I agree that this is anti-consumer. But I can imagine similar schemes that aren't.
Say a city decides to have a market in the park every Sunday. They issue resellable medallions for stalls, food carts, etc. A few years later, they cancel the market or the medallion system or otherwise make the medallions worthless.
With uber there is some ambiguity. Maybe uber aren't cabs. If some awesome new public transport system lowered demand for cabs the city wouldn't be responsible. Claiming that they aren't cabs is how/why uber get around the medallion system in the first place. Taxis and medallion issuers are challenging this in someplace.
In any case, I think there is a genuine question here. Even if medallions were wrong in the first place, issuing them was the wrong, not buying one. Buying a medallion is the only way to operate a cab. I don't understand the downvote-anger.
Say a city decides to have a market in the park every Sunday. They issue resellable medallions for stalls, food carts, etc. A few years later, they cancel the market or the medallion system or otherwise make the medallions worthless.
With uber there is some ambiguity. Maybe uber aren't cabs. If some awesome new public transport system lowered demand for cabs the city wouldn't be responsible. Claiming that they aren't cabs is how/why uber get around the medallion system in the first place. Taxis and medallion issuers are challenging this in someplace.
In any case, I think there is a genuine question here. Even if medallions were wrong in the first place, issuing them was the wrong, not buying one. Buying a medallion is the only way to operate a cab. I don't understand the downvote-anger.