36. ATMs

Imagine you're at a dive bar on a Saturday night, credit card in hand, but the bartender insists on cash only. In the corner sits an ATM—your quick fix. These machines, once a bank branch novelty, now number around half a million in the U.S., with most standalone units in bars, stores, and salons owned not by banks but by independent operators who profit from surcharges.

From Bank Tellers to Machines

ATMs emerged as banks grappled with suburban expansion, booming customer bases—including working-class manufacturing employees and more women—and labor issues like unionizing tellers in Europe. The first ATM appeared in London in 1967, followed by Chemical Bank in New York in 1969. Early models used tokens, jammed often, dispensed wrong amounts, and looked like 1950s sci-fi props, taking 15 years to mature.

Technological shifts in the 1980s—digital telephony, Windows OS, and cheaper portable units dropping from $15,000 to $2,000—made ATMs ubiquitous. Networks allowed access across banks, spawning independent operators who placed machines anywhere with foot traffic, from delis to high schools.