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Uber and Lyft are demolishing New York City taxi drivers

The price of taxi-cab medallions in New York seem to have hit a new low. Early this month, a medallion — basically the right to operate a yellow cab in New York — was listed for $250,000 on (We first spotted this detail on DonutShorts' twitter feed. It was originally tweeted by @tavit87.) That's a stark contrast from 2014, when the value of a medallion was listed around $1.
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