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If medallions were worth $500k+ back then, how much were these cabdrivers making on their rides to make this profitable?
by pkaye 7y ago
If 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.