NEW YORK: Yellow Taxi Drivers Life In 2018

Yellow Taxis is what people believe that it is and was the pride of New York. However, after uber and lyft came along the Yellow taxi Bussiness went down dramatically and people started to take uber and instead of the yellow taxi because uber and lyft are offering cheap rides compare to taxi, which lead to the problem of taxi medallion owners committing suicides and doesn't know what to do in this dilemma of paying off their medallion. Since there was no uber and lyft back in 2011 and 12 people were to think its a great investment to buy a taxi medallion at that time the medallion would cost 1 million US dollars, after uber and lyft came along the prices went down dramatically from 1 million to 2,00.000 which has devastated the medallion owners. The Number of taxies medallion was finite just to make sure of oversupply doesn't happen, which lead the prices up to 1 million dollars. Drivers who used to drive yellow taxi would make 300 to 400 dollars just on Friday and Saturday night but that's totally changed since uber and lyft had been initialized. Back in 2016 when uber was launched in the city they would pay every driver 1000 dollar bonus just to bring them to their side and leave the yellow taxi. However, because of low business and doesn't know how to repay their debts of buying the medallions, taxi drivers are committing suicides. "Taxi drivers held an emergency protest outside City Hall on Wednesday following the recent suicide of Nicanor Ochisor, a 65-year-old yellow-taxi driver, who took his own life at his home in Queens. He is the fourth driver to die in four months" RT NEWS In order to overcome these issues, Yellow taxi drivers gathered in front of the city hall to ask the government to do something about this issue of people are taking their own lives.