The first railroad over the Appalachians bankrupted the first two groups of investors. The third attempt managed to run a line through and it changed the world. Because unfathomable amounts of cheap grain from Ohio appeared on the international market.
Big issue with rail is there are huge network effects are impossible to price in pure market. Which is why except for the US and Britain most countries built state owned rail. Britain and the US eventually nationalized or quasi nationalize rail. And attempts at privatization seem to fail.
Big issue with rail is there are huge network effects are impossible to price in pure market. Which is why except for the US and Britain most countries built state owned rail. Britain and the US eventually nationalized or quasi nationalize rail. And attempts at privatization seem to fail.