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‘We cannot make a living’: SF cabdrivers’ debts mount amid Uber, Lyft battle
- pkaye 7y agoIf medallions were worth $500k+ back then, how much were these cabdrivers making on their rides to make this profitable?
- steve19 7y agoI have been driven in some quite delapidated cabs in SF. Maybe lack of maintenance or other in-cab monetization such as TV, brochures, or "suggesting" restaurants or clubs to tourists (not sure if this happens in SF, but definitely in other cities).
- Mathnerd314 7y agoSee https://kfarr.com/2007/11/15/how-much-is-a-san-francisco-taxi-medallion-worth/ https://kfarr.com/2007/11/15/how-much-is-a-san-francisco-tax... Medallions in SF are capped at 1500 and the holder is allowed to lease the medallion out to others. So the holder gets around $22,000 a year leasing it out, or around $200,000 using NPV discount of 6%. Meanwhile without a medallion a cabdriver makes $24,000 / year after fees etc.
- luxuryballs 7y agooh no that sucks
- cactus2093 7y agoThis is just anecdotal, but I’ve found yellow cabs in SF in the past 4 years to be some of the worst cab experiences I’ve had anywhere. Drivers saying things that make me really uncomfortable, or seeming a little unstable, also driving more recklessly than the typical Uber or Lyft driver. To the point where even if I’m in an area like fisherman’s wharf now where yellow cabs are plentiful, I’d rather walk a couple blocks to a side street and call a rideshare car than take a taxi. I know Uber and lyft are a bit unpopular on here these days but from my perspective as a rider, even aside from the convenience of hailing a ride anywhere, they are just such a better experience on average than taxis. The rating system seems to be a much stronger incentivizer of good behavior than the old fashioned taxi regulations were.
- mhdhn 7y agoAgree. Same in most places. Tel Aviv, LA, Boston, ...
- galfarragem 7y agoWhen you are a tourist, Uber/Lyft are the only way to get a fair fare.
- t34543 7y agoAs a former resident of NYC there is always an angle for them to scam you. Tourist or not. Get loud and crazy and suddenly the driver found change, accepts CCs, etc.
- kerng 7y agoThis is why most people take an Uber - the taxi experience did not change much. Smelly car, smoking driver, dangerous/lost navigation, no CC reader,... Even if Uber were to raise prices or subsidize less, I doubt people would switch back to taxis.
- mandeepj 7y ago> driving more recklessly than the typical Uber or Lyft driver A lot of uber/lyft drivers have horrible driving skills. They have no respect for walk signal - keep-on honking while pedestrians are crossing.
- devoply 7y agoCity should refund costs of medallions with a difference in the expected NPV vs. the current economics of medallions.
- Mathnerd314 7y agoSimilar article about NYC: https://news.ycombinator.com/item?id=19955489 https://news.ycombinator.com/item?id=19955489
- syntaxing 7y agoI definitely feel bad for them but they're responsible for their own decisions...They took the risk to invest into a medallion with the expectation of a return. But if the end result is crappy, it's part of the expectation.
- prepend 7y agoThe city should not have allowed these medallions to become investment vehicles. Taxis are unpleasant so I’m not too sad they are dying off, but I’m concerned about other areas where the city creates artificial markets that don’t make sense over time.
- pixelbash 7y ago. B ..■¿¿.