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The problem is not ride sharing, its the fact that being a taxi driver in NYC is viewed as an investment rather than a job. That you have to purchase a medalli
by admax88q 8y ago
The problem is not ride sharing, its the fact that being a taxi driver in NYC is viewed as an investment rather than a job. That you have to purchase a medallion for insane sums of usually borrowed money.
It's a broken system. Could you imagine if you had to put up $1.3 million to be a factory worker? Money that you're still on the hook for if the factory ends up closing due to lack of demand? Charging people for the privilege of working, and somehow its Uber's fault for not protecting this corrupt and manipulative system.
- user5994461 8y agoIf the medallion was bought 30 years ago as said, it was surely acquired for closer to $3 than to $1 million. He could sell it for a large profit, despite the downtrend in the recent years.
- andrewprock 8y agoThirty years ago they were about $250,000 in today's dollars. He would be lucky to recoup that in the current market.