system
Given the following post, respond as if you're commenting on Reddit:
human
ELI5: How are cities going to handle phasing out taxi medallions? Some people have invested millions in medallions and medallions help the city control the number of cab drivers on the road. Will they simply lose all their money?
gpt
Buying a medallion is an investment (and a good one for awhile because cities have been inflating the value through artificial scarcity) and no investment is guaranteed. If you bought a medallion, you assumed the risk that the investment would be a poor one.