> 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), n

> 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?