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Re:Zenefits Scandal Highlights Perils of Hypergrowth at Star... by abduhl on Thursday February 18, 2016 @01:46PM (#11128175)
This source would disagree with you about the reason for taxi medallions:

https://books.google.com/books?id=VXpyNs5EaHEC&pg=PA119&lpg=...

It confirms the story that I have heard previously that taxi medallions were introduced to protect consumers. This doesn't mean that profit was not a reason but I'd like to see something that shows the "explicit" reason you state.

Re:Zenefits Scandal Highlights Perils of Hypergrowth at Star... by kazinator on Thursday February 18, 2016 @04:02PM (#11129291)
I suspect it's not just for the consumers but for the image of the city. Cabs are one system that visitors interact with immediately, before nearly anything else. Grotty cabs make a bad impression.
Re:Zenefits Scandal Highlights Perils of Hypergrowth at Star... by jon_richards on Thursday February 18, 2016 @04:48PM (#11129582)
So does a 2 hour taxi line.