Explore every episode of the podcast How Many F's in Finance?

Numerous traits have made great white sharks the apex predators of the ocean. Uber was clearly the great white shark of the ride fare world; it annihilated its competition with speed and force. But in our last episode, we saw that Uber was not endowed with superior traits. In fact, in New York City, Uber lagged behind yellow taxis and black cars across numerous points of comparison. So how exactly did Uber succeed? Join us as we explore the devious strategies and tactics Uber used to achieve apex predator status.

In New York City, taxi cab drivers found that they were only making $9 an hour after paying medallion lease fees. Every official voice that cabbies heard encouraged them to buy a taxi medallion for themselves. Unfortunately, Federal Reserve policies had pushed up the price of all assets. So cabbies decided to borrow enormous sums from finance firms and purchased medallions for 600, 700, and even 800 thousand dollars. But just like that meteorite that struck the Earth and made dinosaurs extinct, Uber showed up and annihilated yellow taxi and black car drivers. Medallions eventually crashed to a an absurdly low level of $80,000. Was Uber clearly superior to yellow cabs? Or was Uber plagued with problems such as higher trip costs and sexual assaults committed by Uber drivers? Join us as we take you through an honest, data driven comparison of Uber to yellow cabs.

The Federal Reserve never intended to help ordinary Americans or business owners. The Fed bestowed trillion dollar gifts on a specific group of finance firms. These firms were then supposed to transmit that money to the rest of us. But something happened along the way - that money never trickled down to regular Americans. In this episode, see how banks, credit unions, and specialty lenders deployed predatory lending tactics to take advantage of cab drivers. Also learn about Federal Regulatory Agencies - they were supposed to protect the public from predatory lending. Listen in to find out how well they did their jobs.

Since ancient times, every loan has involved two parties - a borrower and a lender. In this episode, we will examine the mindset of both parties. Why would cabbies making $30,000 a year even contemplate taking on a $700,000 loan? And why would finance firms consider loaning such large amounts to cabbies? In this episode, we will reveal where finance firms obtained the money to make the loans. We will show how powerful voices eroded away the fears of the cabbies. And we will show how the finance firms presented cabbies with a "Deal That Was Too Good To Be True!"

New York City's cabbies were backed into a corner. Facing inflation and endless fees, drivers found that they were not earning a living wage. There was only one way out - they had to make a financial decision that would ruin their lives. Come learn how the Federal Reserve and other forces brought utter destruction to this once thriving industry.