NYC Taxi medallions used to cost about $1M before ridesharing companies arrived. People would take out loans to afford them, or rent them from the real "franch

NYC Taxi medallions used to cost about $1M before ridesharing companies arrived. People would take out loans to afford them, or rent them from the real "franchise owner". Not everybody aspires to a unicorn exit. Predictable returns are worth a lot too, even small ones. The drivers who took out loans for their medallions really got screwed when Uber came in, but if the demand for electricity drops catastrophically, we'll probably have bigger problems than a bit of debt.