Competition hacks taxi business

In the years since Uber and Lyft launched, the Boston taxi industry has been ravaged, with revenue and trips plummeting, roughly half the city’s cabbies leaving the business and the price of once-coveted medallions falling about 95 percent, a Herald review shows.

“I’m working more and I’m making less,” said Valery Jean, a Boston taxi driver. “It’s a dying industry, I’m doing my best to stay in this.”

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