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> Not necessarily labor You can say that again. The result of the medallion systems was that often taxi drivers had to pay to work, by renting a medallion from

> Not necessarily labor You can say that again. The result of the medallion systems was that often taxi drivers had to pay to work, by renting a medallion from wealthy owners. Even in countries where the owner of the medallion couldn't rent it, they were sold at very high prices when the owner retired, making it into a middle-class privilege.

ColonelSanders 7y ago
I appreciate your concerns and I think you're doing the right thing! May I ask which countries you're referring to? In USA, I know immigrants who are awarded medallions via lottery and who take a loan and pay off their medallion - like an investment. It potentially helps them break into the middle class. The medallion ended up becoming an entity that was stable that the freelance economy would peg to something. Not saying it was perfect, but it prevented the system from being flooded with drivers. NYC medallions used to be $1m in 2013. They're less the $200k these days. There's consequences to people who were just starting out, who saved for medallions, who now have their investment paid for over decades lost. Working and earning something isn't privilege to me, that's gumption. Whenever I see that word online very rarely does it take into account hard work. 20 or 30 years driving 70+ hours a week? And they're an immigrant just trying to live the American dream? Let them have happiness in life. And we should be celebrating their work and effort. They are absolute heroes for sticking to something so persistently. Let's talk about fairness for new drivers. Doesn't necessarily have to be at the expense of others!
- icebraining 7y ago
  > NYC medallions used to be $1m in 2013. Exactly. Which is why most of them are owned by companies (almost 1/3 by a single one: Marblegate Asset Management), not by plucky immigrants pulling themselves by their bootstraps. Those are the ones renting the medallions and not saving anything close to $1M even in 20 years. The average income of a NYC taxi driver in '93 (so long before Uber and such changed the market) was $19k/year! Sure, in some markets the city occasionally issued some medallions for lower prices, but how is a lottery earning something through gumption? It's literally blind luck! > 20 or 30 years driving 70+ hours a week? And they're an immigrant just trying to live the American dream? How can we be criticizing Uber for exploiting their workers, while promoting working 70+ hours a week? How is that not exploitative?

ColonelSanders 7y ago

I appreciate your concerns and I think you're doing the right thing! May I ask which countries you're referring to? In USA, I know immigrants who are awarded medallions via lottery and who take a loan and pay off their medallion - like an investment. It potentially helps them break into the middle class. The medallion ended up becoming an entity that was stable that the freelance economy would peg to something. Not saying it was perfect, but it prevented the system from being flooded with drivers. NYC medallions used to be $1m in 2013. They're less the $200k these days. There's consequences to people who were just starting out, who saved for medallions, who now have their investment paid for over decades lost. Working and earning something isn't privilege to me, that's gumption. Whenever I see that word online very rarely does it take into account hard work. 20 or 30 years driving 70+ hours a week? And they're an immigrant just trying to live the American dream? Let them have happiness in life. And we should be celebrating their work and effort. They are absolute heroes for sticking to something so persistently. Let's talk about fairness for new drivers. Doesn't necessarily have to be at the expense of others!

icebraining 7y ago
> NYC medallions used to be $1m in 2013. Exactly. Which is why most of them are owned by companies (almost 1/3 by a single one: Marblegate Asset Management), not by plucky immigrants pulling themselves by their bootstraps. Those are the ones renting the medallions and not saving anything close to $1M even in 20 years. The average income of a NYC taxi driver in '93 (so long before Uber and such changed the market) was $19k/year! Sure, in some markets the city occasionally issued some medallions for lower prices, but how is a lottery earning something through gumption? It's literally blind luck! > 20 or 30 years driving 70+ hours a week? And they're an immigrant just trying to live the American dream? How can we be criticizing Uber for exploiting their workers, while promoting working 70+ hours a week? How is that not exploitative?