[melomal]

> But if you're buying a ticket for something that doesn't exist yet, that's an investment.

Out of curiosity, does this include concerts and events?

[Animats]

That's usually regulated by states.

California Business and Professions Code 22507: "the ticket price of any event which is canceled, postponed, or rescheduled shall be fully refunded to the purchaser by the ticket seller upon request."[1] The seller thus has the financial risk if the event is cancelled. This is coming up a lot during the epidemic.

[1] https://www.nbcbayarea.com/investigations/consumer/little-kn...