Taxi Medallions 101...

[pbmus]

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[radius777]

1. Collapse of the taxi industry has devastated immigrant

communities, many of whom viewed owning a taxi medallion (as an owner-operator) or a small taxi company as their pathway to the American Dream, with the medallion often serving as collateral to buy a home, send their kids to college, etc.

The taxi industry always had its share of corruption (see Cohen), but the medallion system is a gov't product (issued and sold by the localities) sold with the guarantee of an exclusive market.

To renege on that deal (and allow Uber the same access, when they don't have to purchase an expensive medallion to operate) is breach of contract. The gov't should be required to compensate all of the victims they scammed.

Uber/Lyft is the Walmart of taxi's, where rich white dudes pocket the money, and mainly PoC immigrants work for slave wages, and own nothing of value.