New York City taxis battle Uber and Lyft for riders

New York's yellow taxis are an iconic symbol synonymous with the city. But taxis have had to contend with a host of issues. Medallion prices were artificially inflated in the early 2010's due to predatory lending forcing many owner-operators into bankruptcy. The industry has also been overwhelmed by ride hailing services like Uber and Lyft. Today roughly 13,000 yellow taxis compete with about 80,000 ride-share drivers.