Uber Hit with Cap as New York City Takes Lead in Crackdown

Re:Uber Hit with Cap as New York City Takes Lead in Crackdown by admax88q on Wednesday August 08, 2018 @07:47PM (#17720601)

The problem is not ride sharing, its the fact that being a taxi driver in NYC is viewed as an investment rather than a job. That you have to purchase a medallion for insane sums of usually borrowed money.

It's a broken system. Could you imagine if you had to put up $1.3 million to be a factory worker? Money that you're still on the hook for if the factory ends up closing due to lack of demand? Charging people for the privilege of working, and somehow its Uber's fault for not protecting this corrupt and manipulative system.

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Re:Uber Hit with Cap as New York City Takes Lead in Crackdown by user5994461 on Wednesday August 08, 2018 @07:57PM (#17720663)

If the medallion was bought 30 years ago as said, it was surely acquired for closer to $3 than to $1 million. He could sell it for a large profit, despite the downtrend in the recent years.

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Re:Uber Hit with Cap as New York City Takes Lead in Crackdown by andrewprock on Thursday August 09, 2018 @01:20AM (#17721784)

Thirty years ago they were about $250,000 in today's dollars. He would be lucky to recoup that in the current market.

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