Archived Boston cab drivers have a plan to push more customers to Uber (bostonglobe.com)
submitted ago by BillCo
Posted by: BillCo
Posting time: 5.3 years ago on
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Archived on: 2/12/2017 1:51:00 AM
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Archived Boston cab drivers have a plan to push more customers to Uber (bostonglobe.com)
submitted ago by BillCo
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[–] RabidRaccoon 0 points 4 points 4 points (+4|-0) ago (edited ago)
Well it depends. If you're some random wannabe taxi driver and you bought a medallion because it was the only way you could operate, I sympathize.
On the other hand reading this
http://bostinno.streetwise.co/2014/06/06/how-much-do-boston-taxi-medallions-cost-2/
I don't sympathize with someone who bought up 384 medallions, rented them out and used the rent to buy more of them. That is literally rent seeking behaviour
https://en.wikipedia.org/wiki/Rent-seeking#Description
I.e. it seems like if you abolished the medallion system all that would happen to most drivers is that they'd stop paying rent to someone like Mr Tutunjian.