It is definitely unfair that a completely new class of competition is allowed which doesn't have to pay this 150k "medallion" fee. Instead of this 20c fee it would be fair to either reimburse the 150k fee to existing owners of taxis or have uber/lyft pay the same fee. Competition should be fair.

Oh and all the regulation should be the same for taxi vs ridesharing like insurance requirements (commercial insurance is much higher which taxis are required to carry) and inspection requirements etc.