As late as 2012 NYC medallions cost $700,000 per individual and $1 million for corporations. I'm sure medallions in other cities are priced very high too.
http://www.bloomberg.com/news/articles/2012-06-29/new-york-city-june-average-taxi-medallion-sales-price-table-
Now enter Uber and lyft. No medallions required. Now you know why big cities have been restricting Uber and Lyft.
holy crap, I thought at 40k I was probably high
I live in Chicago, and I know they must be high as heck here
that’s crazy
I know our city is pushing to get Uber out they keep claiming they are un-trained and un-safe...
Really? Mohammed is some sort of trained professional?
I’ve never used Uber to be honest, I don’t use cabs either, but from what I’ve seen on articles and reports, the drivers are several pay grades above your typical Chicago cabby. So is the service.