Andrew Milgram

We're, I think, the obvious sort of candidate to do it.

I think there is legitimate concern about what the shape of this market looks like as we go into things like autonomous vehicles.

What does the future hold?

I think the almost simpleton's answer to that is, oh, well, you can't fight technology.

And the reality is, while I think autonomous vehicles pose a real threat to the livelihood of the individual driver, when I separate driver from asset,

and I think about what are New York City's interests, I think the medallion has, again, persistency to it.

The medallion system was introduced in the 1930s by Fiorello LaGuardia, the famous mayor at the time, under what was called the Haas Act.

Because in the days during and after the Depression, New York City streets get super clogged because people were out of work and they would get in their car and drive people around as a service.

LaGuardia looked at the system, said, this is terrible.

Nobody can get around.

We need to shrink congestion, get cars off the street so that the city can operate.

They introduced the medallion system.

Look, that basic intuition, that basic imperative hasn't changed.

In the world of autonomous, actually, I think it accelerates in some ways.

You and I are sitting in Greenwich, Connecticut.

While we were doing this interview in a fully autonomous world, theoretically, we could sit down and send our cars to do a little work in New York while we're doing this.

They'd be back by a certain time.

That's not great for New York City's operation.

I would also say that people with less scruples might say, go down to New York City and work, but don't take any rides north of 125th Street.

Things that would just be absolutely repugnant operationally, but also in strict violation of New York City's operating rules around taxis and how rides can be taken and serviced.