RSG 267 - Dawood Mian from Auto Marketplace on NYC Ridehail Market, TLC , Waymos, etc.

In this episode, Harry chats with Dawood Mian, founder of Auto Marketplace, to unpack why New York City’s TLC market is unlike any other and what that means for Uber and Lyft drivers, fleet owners, and the rollout of autonomous vehicles (AVs). Dawood explains NYC’s unique regulatory layers, how vehicle caps and driver pay formulas shape earnings, and why insurance dynamics make the city both lucrative and highly disruptable.

From TLC plate economics to medallion politics and AV entry paths, Dawood breaks down the real-world business models at play. He also shares hard numbers on trip volumes and revenue, and lays out the practical hurdles AV fleets will face in NYC including depots, charging locations, fraud risk, and curb-space competition.

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Quick Takeaways

• NYC is the only U.S. market where Uber and Lyft must follow existing TLC rules with licensed drivers and commercial insurance.

• The market size is massive: ~647,819 ride-hail trips per day and ~138,644 taxi trips per day as of September 2025, with average revenue estimates of ~$35 per ride-hail trip and ~$25 per taxi trip.

• Insurance is unique in NYC: vehicle or fleet owners carry the policy, not the platforms, which changes incentives and margins.

• TLC has capped vehicle licenses since 2018; today there are about 104–105k active TLC plates, reviewed annually for possible releases.

• A surprise 10k EV plate release in October 2023 preceded widespread app lockouts, showing how added supply impacts utilization.

• Uber can now dispatch yellow cabs via integrations like Curb; roughly 20% of yellow cab trips are originating through Uber.

• The NYC driver mix is roughly 60–70% owner-operators and 30–40% renters; four mega-fleets control a large share of corporate plates.

• A leaner “plate-rental” model (renting the TLC plate, driver owns the car) is gaining traction versus full vehicle rental fleets.

• Typical annual TLC liability insurance ranges: ~$6k–$8k for fleets, ~$4.5k–$6k for individual owner-operators, higher for poor loss runs.

• TLC plates held in LLCs can trade hands; recent pricing is roughly $15k per plate in multi-plate LLCs or $25k–$30k for single-plate LLCs.

• Waymo’s likely entry path: rent or buy TLC plates to launch dozens of vehicles, then lobby for a distinct AV license class long-term.

• Biggest AV hurdles in NYC: depot real estate, charging infrastructure, fleet ops at scale, aggressive driving culture, weather, and fraud risk.

• Charging is a choke point: only a few hundred fast chargers in the city and expensive land makes dense EV operations tough.

• Regulators are shrinking curb space with bus lanes, bike lanes, and congestion fees, so any fleet plan must factor tighter curb access.

• Expect political pressure from drivers and medallion stakeholders; some may push for AVs to operate under medallion or TLC license regimes.

• Dawood Mian on LinkedIn: https://www.linkedin.com/in/dawoodmian/

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