Taxi drivers need a license called a medallion to legally be a taxi. There are a finite amount of medallions available, so they’re very expensive. Taxi drivers will take out huge loans to get the medallion. When they retire, they sell the medallion which hopefully increased in price. So it’s a license that’s also a stock.
I've heard about taxi medallions, but never understood what they were. Can I trouble you for a quick run down?
Taxi drivers need a license called a medallion to legally be a taxi. There are a finite amount of medallions available, so they’re very expensive. Taxi drivers will take out huge loans to get the medallion. When they retire, they sell the medallion which hopefully increased in price. So it’s a license that’s also a stock.
Wow it's just like an NFT! :so-true: