Steve Chapman on Putting the Taxi Cartel in the Rearview Mirror


mrlerone / Foter / CC BY-NC-ND

If driving a taxi in Chicago is your dream job, have I got a deal for you. You get to fight traffic, deal with drunks and deadbeats, work long hours and breathe exhaust fumes nonstop. And I can get you into it for just $360,000. That's what you can expect to pay for the city medallion required to operate a cab. Steve Chapman explains that, thankfully, this business model is in peril, because of ride-sharing services like Uber and Lyft.