TIL the value of a taxi medallion (permit allowing a taxicab to operate) in New York City peaked in 2013 at over $1 million. By 2019, medallions were being sold for as low as $136,000. Since many cab drivers took out loans to buy when values were high, many have been forced to declare bankruptcy.
Remember when taxi drivers were paying the State for a legal monopoly on giving rides and charging for it, until Uber came along and destroyed their business model.
If only we could disrupt the hot dog industry in a similar way…