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Uber, Lyft and the hard economics of taxi cab medallions

Rideshare companies such as Uber and Lyft have changed the taxi market dramatically. For one thing, the rideshare revolution reveals the extent to which the medallion system has restricted supply – in the summer of 2016, Uber alone had almost 20,000 active Boston drivers.

 · SF to require Lyft, Uber drivers to obtain business licenses. By Emily Green. Updated 2:15 pm, Friday, April 15, 2016. For the first time, San Francisco is going to require the 37,000 Lyft and Uber drivers who work in the city seven or more days a year to obtain a business license.

Three New York-based credit unions that specialized in loaning money against taxi cab medallions, the hard-to-get licenses that allow the city’s traditional cab fleet to operate, have been.

 · The cab company model, with medallions and so on, was exploitative. It wound up charging customers too much, but it did cover its own costs-mostly. Uber and Lyft charge too little and siphon too much of what they charge back to themselves.

 · You’re lucky that you live in a city with good cab service, Uber and Lyft couldn’t get a stronghold if enough cities had cabs that were up to par. I do agree with you about economics, which is why I encourage Uber drivers who are not satisfied with their economic arrangement to quit, not shake down passengers for tips.

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Uber, Lyft and the hard economics of taxi cab medallions Maybe it’s because Uber stayed private too long, or because Lyft messed up ride-hailing IPOs, or because the timing was bad, or because the long shadow of corporate misbehavior has tarnished the brand.. Lyft and the hard economics of taxi cab medallions. Next Next post: Analysts Refreshing.

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else.2 Taxi drivers have cast Uber as an unsafe and rapacious competitor, leading lawmakers to shut it out of various mar-kets.3 Uber’s claim that its average New York City driver earns over $90,000 a year was so hard to verify that a Slate writer en-titled her article “In Search of Uber’s Unicorn.”4 And in what

“Economic. a NYC taxi medallion is like owning a piece of NYC. I would never bet against them,” he told The Times. Perhaps for now Uber, Lyft and other car service companies have placed a shadow.

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