I agree we should probably say "licenses" and not "medallions" when talking about policies all over the world, it's just that medallions are known as the worst example of corruption and regulatory capture, protecting incumbents while incredibly claiming this helped stranded people who need to get home when no taxis can be found.

At the peak these licenses were going for a million dollars each.

I think Uber, Lyft, and others are serving a great good in substituting for taxis in filling the need for road travelers. Taxi drivers may argue that the drivers are being abused, but we can't all have (nor do we all want) jobs with lots of protections.

Being a driver should be a job anyone could take while on the road to reaching their dreams in life, and not restricted to a lucky few who demanded the government give them a monopoly on the gig.