@sun @cinnamon @lucy It's not a money printer, it's an anchor around their necks

> For years, the price of a New York City taxi medallion—a permit required for a driver to operate a yellow cab—soared higher and higher, reaching more than one million dollars. After Uber and other rideshare companies entered the industry in the early 2010s, medallion prices crashed suddenly and precipitously, plummeting to only around $150,000 in a matter of years. Many medallion owners are hardworking drivers who now face extremely high debt loads and precarious economic circumstances through no fault of their own. This Note explains the severe impact of this medallion debt crisis and how it came to exist. Because efforts to obtain relief through litigation have failed, this Note argues that local, state, and federal government officials should adopt proposals to offer financial assistance to medallion owners. This Note outlines some of these proposals and argues that the unique circumstances of the taxi medallion price crash and debt crisis warrant robust support for medallion owners.



https://hrlr.law.columbia.edu/hrlr-online/distressed-drivers-solving-the-new-york-city-taxi-medallion-debt-crisis/