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This is the Hankyu Rail system. One of many public rail system interconnecting cities in Japan. All of those public rail system in Japan is privately (may be publicly traded) owned and is regulated by the government for its safety.
I really think this model of privately owned public transportation will make sense in the US as well. When the project of this nature is funded by tax money, there is no incentive for the people running it to make it self efficient.
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