>Wow, $120 for a premium shift today is so much cheaper than 10 years ago. I could be wrong but I remember reading back then cabbies we’re paying around $220 and in some cases not even getting a cab to drive as they were all taken.
Note that I didn't say it was $120 for a premium lease, I said $120 for a night shift lease Sunday-Wednesday, with premiums on top of that for Thursday-Saturday nights.
What's more, the Taxi and Limousine Commission (TLC) that regulates Taxis and For Hire Vehicles (FHV), has capped the maximum lease rates, since every time the fares increased, fleet owners would raise lease rates to take almost all the additional revenue.
I'm not claiming that folks make lots of money driving medallion taxis in NYC (in fact, the bottom has pretty much dropped out during the pandemic).
Rather I don't think that the analysis in the article is nuanced enough to make any comparisons with Uber/Lyft and other FHV drivers.
Note that I didn't say it was $120 for a premium lease, I said $120 for a night shift lease Sunday-Wednesday, with premiums on top of that for Thursday-Saturday nights.
What's more, the Taxi and Limousine Commission (TLC) that regulates Taxis and For Hire Vehicles (FHV), has capped the maximum lease rates, since every time the fares increased, fleet owners would raise lease rates to take almost all the additional revenue.
I'm not claiming that folks make lots of money driving medallion taxis in NYC (in fact, the bottom has pretty much dropped out during the pandemic).
Rather I don't think that the analysis in the article is nuanced enough to make any comparisons with Uber/Lyft and other FHV drivers.
[0] https://www.nycitycab.com/Business/FleetTaxisforleaseList.as...