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> And who can blame them, really. When it costs thousands of dollars to get a medallion, you want to protect your investment and do whatever you can to maximize
by gsnedders 9y ago
> And who can blame them, really. When it costs thousands of dollars to get a medallion, you want to protect your investment and do whatever you can to maximize your profits.
AFAIK, in most places in Europe a taxi license costs tens or hundreds of dollars, not thousands. (There are exceptions, of course, most famously London where the cost is more in time than in direct money, and Paris where licenses are sold second-hand for hundreds of thousands.)
- Steeeve 9y agoA NY Medallion was going for over a million before Uber came along (now ~$850k). Wait lists are typically longer than 10 years.
- AnimalMuppet 9y agoOK, but the article is about Europe. So European prices are relevant, not New York prices.
- rayiner 9y agoIt’s not just the cost of the license. In the US, and presumably in Europe, taxi rates are set by the government. Taxis can’t use things like surge pricing to maximize revenues.