In France we do have a limited supply of taxi licences. But they are usually owned by the driver.
Since they worth a lot (~250k€) and that taxi driver is a liberal profession, they acts as a retirement plan / life insurance.
This is why taxi unions gets really upset when there is a governmental plan to raise the amount of licences, or when any unregulated competition shows up (motorbike taxis, "private drivers", and now Uber).
Yup. Especially in SF, the medallion owner just won the lottery and rents it out. No one is going to risk going to jail to protect their boss' monopoly.
Since they worth a lot (~250k€) and that taxi driver is a liberal profession, they acts as a retirement plan / life insurance.
This is why taxi unions gets really upset when there is a governmental plan to raise the amount of licences, or when any unregulated competition shows up (motorbike taxis, "private drivers", and now Uber).