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[–] floormatt3 0 points 3 points (+3|-0) ago 

This is almost better for taxi drivers, from what I understand. A cheaper medallion means less out of their own pockets to keep their big, yellow taxi

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[–] tilken31 [S] 0 points 3 points (+3|-0) ago 

Though, if you bought your Medallion back in 2013, you have now lost 300K of your investment...

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[–] devotedtoneurosis ago 

And face a more competitive market.

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[–] Zodi ago 

Yeah but the reason why they were so expensive before was so you had to work through a company, rather than be your own boss.

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[–] tangerinepeeler 1 point 0 points (+1|-1) ago 

I don't think it's better for them. Yes, it's cheaper, but they don't have the same amount of work they had before, meaning they earn less money.

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[–] jeegte12 ago 

he did say "almost"

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[–] barrinmw 0 points 1 point (+1|-0) ago 

I am conflicted, I don't like Uber as a company, and I don't like Taxis either...hmmm....

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[–] jaceame 0 points 1 point (+1|-0) ago 

and thus continues the great giant douche turd sandwich debate.

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[–] tilken31 [S] 1 point -1 points (+0|-1) ago 

YESSS!

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[–] Gone_Private ago 

Has anyone seen one of these medallions? Do they turn your car yellow?

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[–] shinybedpan 0 points 2 points (+2|-0) ago 

NPR Planet Money had a good episode on Gene Freidman aka The Taxi King of New York. He basically borrowed like crazy to buy as many medallions as he could. I don't know what percentage he holds but I believe he is the single largest owner of medallions. He has been hit hard by this and there is a pretty big chance his cab company will go under in the next 5 years.

Episode 643: The Taxi King

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[–] SirRoderickGlossop 0 points 1 point (+1|-0) ago 

Can you imagine how bummed out you'd be if you'd scrimped and saved for years to get a medallion, then a year after you buy it the price drops through the floor?