In New York, taxi medallions allow drivers to own and operate their vehicles instead of leasing them. But the growth of ride-hailing apps such as Uber and Lyft has weakened the values of medallions, which has dropped from $1 million in 2014 to less than $200,000 in 2018.
Mr. Khosrowshahi proposed the idea of a surcharge on ride-hailing apps after learning about the struggles of taxi medallion owners.
“In circumstances where medallion owner-operators are having a hard time, where technology has changed and demand patterns [have] changed their environment, we would support some kind of fee or pool to be formed, a hardship fund, call it,” Mr. Khosrowshahi told Fortune.
But some medallion owners said Mr. Kosorowshahi’s sentiment is too little too late.
“It’s too late for his damage control tour,” said Bhairavi Desai, president of the New York Taxi Workers Alliance. “Dara Khosrowshahi’s proposals are a slap in the face to struggling drivers and an attempt to get out of being regulated.”
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