

The Oldest Yellow-Cab Driver in New York City with His Own Medallion - pepys
http://www.nytimes.com/2014/11/16/nyregion/the-oldest-yellow-cab-driver-in-new-york-city-with-his-own-medallion.html

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eplanit
According to
[http://www.bls.gov/data/inflation_calculator.htm](http://www.bls.gov/data/inflation_calculator.htm),
the $25,500 he paid in 1968 is equivalent to $174,419.27 in 2014. And, he paid
that because (or despite) feeling he had few options ("stuck in the racket").
Further, this does not include his investment in his vehicle. The medallion
fee is a huge (seems opportunistic and cruel, in fact) barrier to entry
relative to the newer models of Lyft and Uber.

~~~
GFK_of_xmaspast
Uber is a perfect example of the inefficiency of the public sector: nobody can
squeeze money out of you at all levels of interaction like a corporation.

