[pavel_lishin]

> The perpetual owners of taxi plates, about 5800 people, will receive a $20,000 payment for the plate. Multiple plate owners will receive a maximum of $40,000.

> Both taxi and Uber drivers will also have to pay the government a $1 levy per trip for a maximum of five years to fund the compensation package.

So, "here's $20k, now start paying us back"?

I wonder how long it takes to accrue 20k rides in a taxi.

[joseakle]

For an average of 7 rides/day ~7 years, 20 rides/day ~3 years. Assuming the car is working daily.

[repsilat]

Having a taxi collect a $1 just to redistribute it back to taxi drivers seems a little pointless. The real impact will be in the levy money collected by Uber drivers, so the ratio of Uber drivers to taxi medallions is very relevant.