Quote:
Originally Posted by Macroni
Here in Philadelphia, a taxi medallion was valued at $500,000, they are now reduced to $10,000 at the latest auction. Uber has changed the marketplace.
I do not understand how an unregulated vendor can just enter a marketplace and be able to operate unrestricted while the incumbent is still required to maintain the standards established by the community in the same marketplace. I do not understand how these small business owners can have not only their livelihood disrupted but their substantial investments in the medallions wiped out.
I understand the horse whip factory closing but this seems different. Especially considering they lost $1.2 Billion dollars. This gives the impression that their product is being sold under the true cost of a viable enterprise.
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Pretty much my feeling.
Not that I like the pricing or product provided by the previous "standard" but it's really unfair.
I have a regular driver that I've been using for years.
Last trip he told me he's ditched the traditional route. He'd tried the ride share model and was barely covering expenses.
He's now independent and it was only possible due to licensing restrictions being eased. He used to have to pay for licensing and take a yearly test for each county he wanted to operate in.
Still his revenue is off significantly for the same amount of work and he's considering hanging it up all together.
It's not like he was making a killing before but at least he was making a living.