NYC Taxi News founder Abe Mittleman, taxi industry expert Carolyn Protz and AutoMarketplace’s Dawood Mian discuss the future of NYC’s taxi medallion system, including whether it should continue to exist and if it will survive. Recorded on March 18, 2025.
DISCLAIMER: Nothing in the discussion should be interpreted as financial advice.
Also available on YouTube ⬇️
TABLE OF CONTENTS
0:00 Abe’s opening 0:44 Intro by Carolyn 6:21 Abe supports specific NYC Mayoral candidate 7:10 NYC’s politics is important to for-hire transportation (TLC) industry & related discussion 9:39 NYC today vs. NYC in the past: Is New York on the rise or in decline? 15:19 How was the taxi business in 1970s and 1980s? Could you make money? Dynamics? 18:40 "Arm jobs" 19:50 51% taxi garage commission? 22:20 Genesis of modern TLC Plate and NYC black car & livery industry 26:38 NYC taxi business was resilient throughout economic cycles 27:36 Why didn't "gypsy" or livery cabs flood the streets? 28:55 There was never a TLC plate cap, but there were $50,000 "radios" 30:40 Why should a taxi medallion system, or for-hire vehicle (FHV) license cap, exist? 38:30 Will the taxi medallion system survive? 40:36 Are taxi medallions liquor licenses or air rights? Why do medallions exist? City franchise? 43:58 NYC TLC drivers should be earning $100,000 49:16 Why not have a NYC TLC driver license cap (vs. vehicle cap)? What are TLC plates? 56:40 Do you think drivers will continue to invest in the medallion system, and will politicians work to protect it? 1:03:18 NYC TLC drivers can be seen as an influential political constituency 1:05:26 Is it a good idea to buy* a taxi medallion? (*not financial advice) 1:07:40 Who's selling and buying taxi medallions today?
