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They sold the medallions based on a guarantee that they would enforce a monopoly around those medallions. Then they didn't enforce that monopoly. Sounds like
by InitialLastName 8y ago
They sold the medallions based on a guarantee that they would enforce a monopoly around those medallions. Then they didn't enforce that monopoly. Sounds like the city is in the wrong.
- gruez 8y agoand what if the city repeals the monopoly? did the city enter into a contract to guarantee that a monopoly will be in place for n years?
- TheCoelacanth 8y agoThe medallions are only for street hails. Uber does not accept street hails, they just made another way of hiring a car convenient enough to replace a significant portion of street hails. The medallion owners invested in something that became less valuable because of technology (cellphones becoming ubiquitous). They have no one to blame except for themselves.