Episode 53: The Collapse Of The NYC Taxi Industry And Bankrupt Medallion Owners

Lucky Boys Podcast

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4y ago 1:30:40

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Will and Norm discuss the growing crisis of the NYC taxi industry with cabbie and medallion owner, Augustine Tang. The NYC taxi medallion was once worth $1.3 million dollars, but has lost over 90% of its value in present day. He shared with us the suicide rate among drivers has dramatically increased due to the mounting debt they face as they struggle to pay their bills during the pandemic and due to the relentless competition from tech companies such as Uber and Lyft.

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