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New York City Taxi Medallions Have Plunged in Value By 90% In Less Than A Decade
Survivalnomics ^ | 12/30/2021 | Tyler Durden

Posted on 12/30/2021 8:47:40 PM PST by SeekAndFind

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1 posted on 12/30/2021 8:47:40 PM PST by SeekAndFind
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To: SeekAndFind

I’d still rather take a cab. Dispatcher on the other end of the radio, auto inspections 2x a year, and background checked and ID’d drivers.And you can tell a taxi from some jerk trying to impersonate an uber.


2 posted on 12/30/2021 9:01:32 PM PST by blueplum ("...this moment is your moment: it belongs to you... " President Donald J. Trump, Jan 20, 2017) )
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To: SeekAndFind

The reason taxi medallions were so expensive is because the cab companies paid off the politicians to price out startup taxi companies.


3 posted on 12/30/2021 9:01:39 PM PST by Blood of Tyrants (Do we value what the Founding Fathers gave us enough to fight for it?)
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To: SeekAndFind
I have never heard of a single, sensible reason why the number taxi medallions were limited so much that their price hit a million dollars. Maybe the city had an argument that taxis have to be in good shape and inspected regularly for safety, but that can be handled by a couple inspections a year - no reason to limit their number.
4 posted on 12/30/2021 9:05:44 PM PST by KarlInOhio (I stand behind Alec Baldwin. It is far too dangerous to stand in front of him.)
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To: blueplum

Your ride share app has both yours and drivers gps on constantly and they also do most of taxi. Far more secure that way. Taxi industry is outdated and in most cities are negative value both in cost and service.


5 posted on 12/30/2021 9:15:54 PM PST by rb22982
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To: SeekAndFind

Start app, enter address, select driver, watch whole process proceed on map, get in, get out, done. Payment automatically reconciled. Works dang near anywhere, with just two apps.

Can’t grasp how “cabs” exist now.


6 posted on 12/30/2021 9:18:15 PM PST by ctdonath2 (Statistics don't matter when they happen to you.)
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To: Blood of Tyrants
Yep.

These were not independent drivers but large cab companies.

7 posted on 12/30/2021 9:20:12 PM PST by Harmless Teddy Bear (add a dab of lavender in milk, leave town with an orange and pretend you're laughing with it)
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To: SeekAndFind

I’m old enough to remember courteous American taxi drivers who happily helped you with your luggage, opened the door for you, and spoke good American English. They had to pass exams showing their knowledge of city streets and could get you to your destination without paper maps or GPS.

Like so much of “the good old days,” that world is gone.

Today I’d much prefer a nice Uber ride. The drivers almost all have very nice, comfortable and late model sedans.


8 posted on 12/30/2021 9:25:02 PM PST by ProtectOurFreedom (81 million votes...and NOT ONE "Build Back Better" hat)
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To: ProtectOurFreedom

“The drivers almost all have very nice, comfortable and late model sedans.”

Both Uber and Lyft have vehicle type and age requirements. You’ll never find a driver for either piloting a cherried out ‘68 Impala.


9 posted on 12/30/2021 9:36:56 PM PST by HKMk23 (The right of freedom of religion shall not be derogated even if the life of the nation is at stake.)
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To: ctdonath2

Cabs have similar apps.


10 posted on 12/30/2021 9:37:47 PM PST by Persevero (You cannot comply your way out of tyranny. )
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To: SeekAndFind

The last time I rode in a cab it was filthy, it stank, the driver could barely speak a word of English and the radio was blaring some kind of belly dancing “music”. Never again will I ride in a cab. I’ve used Uber and Lyft and have had zero issues with them.


11 posted on 12/30/2021 10:23:45 PM PST by AlaskaErik (In time of peace, prepare for war.)
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To: SeekAndFind

The only thing dirtier than a NYC taxi is the home country of the Paki driving it.


12 posted on 12/30/2021 11:32:17 PM PST by HYPOCRACY (This is the dystopian future we've been waiting for!)
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To: Blood of Tyrants

Precisely. The whole system is nothing but pure rent-seeking, one of the best examples out there.


13 posted on 12/31/2021 1:58:08 AM PST by FreedomPoster (Islam delenda est)
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To: AlaskaErik

>>The last time I rode in a cab it was filthy, it stank, the driver could barely speak a word of English and the radio was blaring some kind of belly dancing “music”.

Same here - except the last Uber I took also had non-english speaking driver with middle eastern music blaring so loud I couldn’t even communicate with the driver. Car was cleaner though.


14 posted on 12/31/2021 2:18:58 AM PST by qwerty1234
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To: HKMk23

We like Uber.

A few short years ago, we took an Uber in Denver, CO.
Nice guy, former Marine. But his big ratty Jeep was falling apart. I gave him a best review, but told him personally that his ride was junk.


15 posted on 12/31/2021 2:27:56 AM PST by sonova (That's what I always say sometimes.)
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To: blueplum

huh?


16 posted on 12/31/2021 4:29:06 AM PST by nikos1121
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To: SeekAndFind

Once again the idiocy and ignorance of diblasio and left wing NY politicians to the rescue. They scream and cry about globull warming and climate change- so what do they do in this craphole state?? Right- put 150,000 ubers and lyfts on the streets which not only devastates the taxi business but- wait for it- clogs all the streets and highways with exhaust emitting traffic!!!!


17 posted on 12/31/2021 4:55:26 AM PST by God luvs America (63.5 million pay no income tax and vote for DemoKrats...)
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To: God luvs America

In NYC it is difficult to find parking, and parking lots charge a huge amount of money. Taking carbs or public transportation is the only way to get around Manhattan and most of the rest of NYC.


18 posted on 12/31/2021 5:03:07 AM PST by SauronOfMordor (A Leftist can't enjoy life unless they are controlling, hurting, or destroying others)
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To: SeekAndFind
Back in Dec. of 2016, the cousin of a good friend of mine was attacked by his Uber driver who repeatedly stabbed him. Fortunately the cousin was able to subdue the Uber dude till police arrived.

The reason for the attack was that the driver thought the cousin had dissed his car....(???)

19 posted on 12/31/2021 5:09:00 AM PST by Hot Tabasco (My favorite word is Tweezer)
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To: SeekAndFind

The NYC taxi medallion business was a huge racket for decades. It was tightly controlled by a few large owners among a small number of independent operators. There was a monopoly and every time a single medallion would come up for auction it would sell for millions. Now they are worth a small fraction of that. Owners who saw the light of Uber changed their business model and have succeeded while those who clung to the old model were left in the dust.


20 posted on 12/31/2021 5:31:28 AM PST by thefactor (yes, as a matter of fact, i DID only read the excerpt )
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