4 ms·
Medallions had value in that they were seemingly protected by the municipality that issued it. Prior to Uber, a medallion was an asset that appreciated in value
by ppeetteerr 5y ago
Medallions had value in that they were seemingly protected by the municipality that issued it. Prior to Uber, a medallion was an asset that appreciated in value.
- diebeforei485 5y agoThey didn't have any intrinsic value, plus municipalities and some large institutional investors were the only people you could sell a medallion to (other than taxi drivers/owners). On the other hand, Uber drivers can find any buyer for their used cars (which have, in fact, gone up in value since the pandemic began).