Uber and Lyft are demolishing New York City taxi drivers

Publication: Business Insider,

The right to operate a yellow cab (a medallion) in New York is tightly regulated and data (nycitycab.com) shows that the price of taxi-cab medallions in New York seem to have hit a new low. They’re losing value with the cab business taking a hit amid the rise of rideshare apps like Uber and Lyft.

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