Uploaded August 2026 | Updated September 2026, 2 weeks ago
Would you pay $1 million for a piece of tin? đźš•
In 2014, a New York City taxi medallion cost more than a Park Avenue apartment. This wasn't because the metal was valuable—it was because the government artificially capped the number of cabs, creating a state-sanctioned monopoly. We’re breaking down how rideshare apps finally broke the "medallion bubble" and what this teaches us about the dangers of limiting supply in any market.
#economics #monopoly #taxi #nyc #freemarket #supplyanddemand #feexplains #uber
Would you pay $1 million for a piece of tin? đźš•
In 2014, a New York City taxi medallion cost more than a Park Avenue apartment. This wasn't because the metal was valuable—it was because the government artificially capped the number of cabs, creating a state-sanctioned monopoly. We’re breaking down how rideshare apps finally broke the "medallion bubble" and what this teaches us about the dangers of limiting supply in any market.
#economics #monopoly #taxi #nyc #freemarket #supplyanddemand #feexplains #uber
