Not so long ago a taxi medallion – or a city-issued license to operate taxi cabs – was a solid investment. Not anymore. Thanks to the rise of ridesharing services like Uber and Lyft, among others, the value of taxi medallions has plummeted. Taxis are far less popular than they used to be, and some experts are even predicting the end of the taxi industry altogether, as consumers switch to alternatives in growing numbers. This slow but sure decimation of the taxi industry can be seen across America. Taxi operators in cities like Boston, New York and Philadelphia, and also…
The Death of The Taxi
