New York City Taxi Medallions Are Being Sold Off for $650,000
In 2013, New York City taxi medallions—the metal ornament every driver needs to operate—were going for as much as $1.32 million, but now they’re being sold off for as little as $650,000. The rapid decline is thanks to Uber, which has been just as disastrous for the taxi industry as it has been convenient for customers.