That is really interesting. I never knew that. I will defintely do some more research on this now. I always pondered how the rest of the world handled the sharing-economy.

But i think the medallion system is pretty popular around the world, for that was the old status quo/standard. The new norm now is the abundance of choice through permissionless innovations like Uber and Lyft. Governments have always had a tough time dealing with new technology. But the way some governments have treated Uber and the sharing-economy is quite odd.

I could imagine that is it very expensive to keep a car there (Hong Kong like Washington DC isnt cheap im sure). But it is interesting that the Hong Kong government is responding and planning to develop premium taxis - theyre literally conceding to the success of UberBlack by trying to develop their own way to do it. i mean i see how that is kind of punning but it is interesting that private companies are forcing governments to innovate and compete rather than regulating the industry out of the Hong Kong altogether (like some american states and cities are doing).

Thank you so much for commenting - your insight is very valuable! Glad to connect my friend!