alt Hacker NewsHonestly, I would argue Uber advocates had a valid point. Taxi medallion laws were created to artificially screw with the market by limiting supply of taxi cabs to far below a reasonable number that would’ve been on the road otherwise. This was 100% to the benefit of the taxicab industry and came at the expense of people who wanted to ride in cabs.
I do have some sympathy for the cab drivers who used to be able to earn a better living, but the only reason that was possible is that city government gave them a sweetheart deal, which isn’t fair. It makes exactly as much sense as having barber medallions or pharmacist medallions. If they had those, it might cost $85 for a basic haircut, and pharmacist and barber medallion owners might make a ton of money (remember, you can rent out medallions, so they became investment vehicles), but those are prices we’d all be paying for.
Regulations that just pick winners and losers, making most of us the losers, are stupid - and should be loopholed-around if it’s possible.
>Taxi medallion laws were created to artificially screw with the market
My area had no taxi medallion laws or system.
That's part of the problem. The excuses were always bullshit made up from generalizations of local problems. Uber wasn't needed to "Bust the taxi monopoly" because in most places there was no taxi monopoly, at least, not until Uber showed up and made one.
The excuse was never meant to be actually valid though. It was always just a simple "gotcha" that could be employed as a thought terminating cliche by people who had already made up their mind on which outcome they wanted.