those medallions should never have been allowed to grow to such excessive values in such a highly regulated industry. if anything it exemplifies exactly why regulation can stifle innovation and competition. As with other cities deep pockets get control over the bulk of them and then lease usage which makes those leasing worse off than having the ability to compete on an even playing field in the first place.
Yes definitely agree the system was bad -- hence why I am basically a permanent Uber/Lyft customer. Doesn't mean that a fast one wasn't pulled on those who bought into it under the premise that it would be enforced.
