Earlier quoted context omitted.
Only if the exam is cheap (not easy) and number of medallions is unlimited. (I got your joke, don't worry)
The prices are listed on this page[1]. Looks pretty expensive to me. [1] https://tfl.gov.uk/info-for/taxis-and-private-hire/licensing...
The private hire license avoids the need for "the knowledge" and to have the traditional London black cab. There are still fees involved, of course - but becoming an Uber driver is much less demanding than becoming a black cab driver.