133. Taxi Medallions – some cities require a taxi medallion in order to operate a taxi; this limits competition and places a large barrier to entry.

Someone trying to add taxis in order to take advantage of demand will be unable to do so unless they can acquire a taxi medallion.

For years, taxi medallions appreciated and banks readily made loans available to those looking to buy them, then Uber and Lyft came along and decimated the value of taxi medallions.

NYC taxi medallions are actually mounted on the hood of the taxi cab for police and the general public to see.

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