The author has a very perverse mode of thinking, at least to me personally. He praises the fact that medallions and price controls cause artificial shortages and blames Uber for devaluing the medallions through their competition. That&#x27;s the most bass-ackwards thing I&#x27;ve read in a while. Yes, taxi companies can&#x27;t compete, because they&#x27;re a state cartel. The author complains about Uber becoming a monopoly, but laments the poor state-protected taxicab monopolists because their artificially fixed hundred-thousand dollar medallions are depreciating!<p>Apparently we are at whim of a &quot;single private company&quot; controlling our transportation, but somehow being at the whim of state governments is not an issue at all.<p>Circumventing local regulations makes you a greedy monopolist, but instituting outrageous item and price controls doesn&#x27;t.<p>And of course, the ultimate irony: complaining about monopolization and cartelization while praising unions. I&#x27;m not opposed to unions, but they are demand-side bargaining cartels and to be in denial over this makes you look disingenuous.<p>If this is &quot;capitalism at its worst,&quot; I can only be horrified at imagining what the author thinks &quot;capitalism at its best&quot; will be. Food rationing, I presume.<p>Terrible article. Only gives more ammunition against left-leaning commentators and nothing else.