Comment by maudineormsby

I agree with this and your other comment and would add that the distortion of the market caused by medallions is exactly why the market is crashing as hard as it is, and also why Uber and Lyft are so popular - there's pent up demand for transportation via on demand cars that isn't able to be met under the taxi medallion system. Not just demand for more transportation but more cost effective and available transportation as well.