Zohran Mamdani: “The city starts to sell [medallions] all the way up to a…”

“For a long time, these medallions were sold by the city to largely immigrants as a surefire ticket to the middle class. In the early 2000s, the value continues to be around 200. The city starts to sell [medallions] all the way up to a million dollars. This is prior to Uber and Lyft. Even at that point, the way in which the price is outstripping the value, it sets these drivers up for failure.” (28:17–28:22)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.