[dahdum]

If the cabs are half the price of a rideshare and they have typically have to wait in those long taxi lines before a fare, how are those drivers not the ones being more exploited?

Lyft/Uber take 20-25% of the fare, so the ride share drivers are making more on the trip. They have variable vehicle upkeep costs, but taxi drivers renting medallions and the vehicles are hardly better off.

[bombcar]

Those lines move pretty fast at major areas, and if the total calls/dollars per hour are higher, they may come out ahead. Utilization matters, as does how the taxi company "rents" the vehicles/medallions.

[DragonStrength]

Many criticize the state and local officials who profited (or generated tax revenue) from exploiting those in the medallion system. My understanding is we are seeing a reformed taxi system on the other side of a truly horrible bottom, especially for those who bought the grossly inflated medallions. That the taxi system is/was exploitative and that ride share is/was exploitative are not exclusive though.

Ref:

- Overview: https://documentedny.com/2021/11/23/taxi-cab-medallion-expla...

- NY govt role: https://www.nytimes.com/2019/05/19/nyregion/taxi-medallions....