Quote:
Originally Posted by NJ Brazen_3133
They should only have brought asset if they thought fares will be enough to make their money back in reasonable time frame. Or else is not a very safe investment.
If they do the math, and find that no one is selling at any price that makes sense, then dont buy. The seller will have to sit on it and do his own work.
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The problem with this is was there investment was based on the fact you needed a medallion in order to pick up a fare. You paid to be a part of the business.
Lyft/Uber circumvented this. We would have a tiny fraction of rideshare drivers if they all had to pay 1M to start.
The city can't sell medallions now.
They were the ones who got the money for offering exclusivity while offering minimal protection.
The taxi riders should drive their cars right into city hall when politicians are entering the building.