> If Philadelphia truly needs more cabs, then Uber can't be > blamed for the collapse in medallion prices since it's > clearly NOT filling a market need. A med

> If Philadelphia truly needs more cabs, then Uber can't be > blamed for the collapse in medallion prices since it's > clearly NOT filling a market need. A medallion has traditionally been a long-term asset. The city sells it to you, and it's yours to keep and use, or sell along to someone else. With Uber/Lyft getting around the medallions by avoiding the need for literal street hailing, the long term prospects for medallions are much reduced. Even if we need more cabs right now, buyers may not be seeing much of a future in the market.