Many criticize the state and local officials who profited (or generated tax revenue) from exploiting those in the medallion system. My understanding is we are seeing a reformed taxi system on the other side of a truly horrible bottom, especially for those who bought the grossly inflated medallions. That the taxi system is/was exploitative and that ride share is/was exploitative are not exclusive though.

Ref:

- Overview: https://documentedny.com/2021/11/23/taxi-cab-medallion-expla...

- NY govt role: https://www.nytimes.com/2019/05/19/nyregion/taxi-medallions....