
‘We cannot make a living’: SF cabdrivers’ debts mount amid Uber, Lyft battle - ikarandeep
https://www.sfchronicle.com/business/article/We-cannot-make-a-living-SF-cabdrivers-14371923.php
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cactus2093
This is just anecdotal, but I’ve found yellow cabs in SF in the past 4 years
to be some of the worst cab experiences I’ve had anywhere. Drivers saying
things that make me really uncomfortable, or seeming a little unstable, also
driving more recklessly than the typical Uber or Lyft driver. To the point
where even if I’m in an area like fisherman’s wharf now where yellow cabs are
plentiful, I’d rather walk a couple blocks to a side street and call a
rideshare car than take a taxi.

I know Uber and lyft are a bit unpopular on here these days but from my
perspective as a rider, even aside from the convenience of hailing a ride
anywhere, they are just such a better experience on average than taxis. The
rating system seems to be a much stronger incentivizer of good behavior than
the old fashioned taxi regulations were.

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mhdhn
Agree. Same in most places. Tel Aviv, LA, Boston, ...

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galfarragem
When you are a tourist, Uber/Lyft are the only way to get a fair fare.

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t34543
As a former resident of NYC there is always an angle for them to scam you.
Tourist or not. Get loud and crazy and suddenly the driver found change,
accepts CCs, etc.

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prepend
The city should not have allowed these medallions to become investment
vehicles.

Taxis are unpleasant so I’m not too sad they are dying off, but I’m concerned
about other areas where the city creates artificial markets that don’t make
sense over time.

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syntaxing
I definitely feel bad for them but they're responsible for their own
decisions...They took the risk to invest into a medallion with the expectation
of a return. But if the end result is crappy, it's part of the expectation.

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devoply
City should refund costs of medallions with a difference in the expected NPV
vs. the current economics of medallions.

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mvid
Can they pay out every bad investment that someone in SF has made?

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devoply
City created a monopoly. When they decided to cancel the monopoly or no longer
enforce it, this should be a part of any such decision.

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pkaye
If medallions were worth $500k+ back then, how much were these cabdrivers
making on their rides to make this profitable?

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Mathnerd314
See [https://kfarr.com/2007/11/15/how-much-is-a-san-francisco-
tax...](https://kfarr.com/2007/11/15/how-much-is-a-san-francisco-taxi-
medallion-worth/)

Medallions in SF are capped at 1500 and the holder is allowed to lease the
medallion out to others. So the holder gets around $22,000 a year leasing it
out, or around $200,000 using NPV discount of 6%. Meanwhile without a
medallion a cabdriver makes $24,000 / year after fees etc.

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Mathnerd314
Similar article about NYC:
[https://news.ycombinator.com/item?id=19955489](https://news.ycombinator.com/item?id=19955489)

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luxuryballs
oh no that sucks

