354 karma · joined January 15, 2012
I created http://sportsbettingcalcs.com/#kelly_calculator which I have pre-filled with an example which is much more intuitive to me. This calculator is more advanced, as it can maximize over multiple bets, but I'm finding it difficult to use. Another calculator which I have no affiliation with is http://www.sportsbookreview.com/picks/tools/kelly-calculator...
Look at any comparable business and the talent makes a way bigger % of the money, actors in the movie industry, musicians in the music industry, professional athletes in NFL, MLB, NHL, NBA etc. These are all "jobs" that people would gladly do for low pay just like the Olympics if that was their only choice. Does that mean that the other industries are overpaying their talent? No imo. It's reasonable to expect that the people that provide the talent and a large part of the value to the industry deserve a large portion of the rewards.
Professional athletes and hollywood have strong unions to fight for fair pay(they used to be exploited for low pay), the music industry is a semimonopoly and does screw artists, but at least there is some level of competition. If you don't like one record company you can always switch labels.
The problem with the Olympics and what makes them so valuable to begin with is their rarity. They only come around once every four years. A top tier athlete may only make one Olympics in his/her lifetime and perhaps as many as ~three. Are you really going to organize and "holdout" for a whole Olympic games with your fellow athletes to maybe better the financial position for all your fellow Olympians? It's one thing to sit out a season when your expected career is 10 seasons and you may only have to sit out 1/3 of one season, it's entirely different when you may have to sit out your entire career. The athletes are being exploited because
1. IOC is a monopoly
2. Their careers are short
3. It's too risky to organize because the risk of not competing is too high. They've trained so hard to get there, to not compete is not really an option.
4. Olympics only happen once every four years.
It's a very similar situation as the NCAA except for #4. If you want to make it "not about the money" that's fine by me, make tickets to attend these events cheap or free, let any network cover the games(why does NBC get a coverage monopoly?), get rid of the endorsements and ads, make all the IOC "volunteer" administrators unpaid, but it's never going to happen. When coaches and administrators are making millions and the talent is making close to zero, the talent is clearly being exploited.
Of course this ignores financial aid so Yale's operating costs are much less than $500 mil/year. If you're going to donate to a university your money will go much further at a small college that actually needs your money and will actually spend it rather than hoarding it. TMQ had some great articles about this topic back in the day. http://espn.go.com/nfl/story/_/page/TMQWeekFour140930/robert... Halfway down.
Source: http://www.forbes.com/sites/kerryadolan/2015/03/02/inside-th...
1. The price keeps skyrocketing, so people hoard or buy 2. The price keeps skyrocketing, so people hoard or buy 3. The price keeps skyrocketing, so people hoard or buy 4. The price keeps skyrocketing, so people hoard or buy
etc... it all works out until it doesn't... it's long overdue for a major correction
It seems like a lot of these new startups are the same old business model but skirt costly taxes and regulation (Uber for taxis, Airbnb for hotels, Bitcoin for money transfers)
It's just that we have a hard time imagining why we would ever need such a powerful CPU which is why you are saying this. Why would someone in 2005 ever imagine we need such a powerful computer in our pocket in 2013? What possible uses could we have for it?
~/.bitcoin/blocks $ ls | xargs strings -n 20 | tee ~/Downloads/hiddenblockchain.txt
https://en.bitcoin.it/wiki/Original_Bitcoin_client/API_Calls...
Are they just sending coins to an invalid address (their string)?
It's my homepage and I'm sure millions of other people's homepages. Setting your homepage to an internet company's site is pretty much their whole goal. It's insane to me that they will give this up.
"I timed it and it took about 16 hours over the course of three days to get this app up and running."
Lol. That's hardly one day then and as people have said it's not close to being a clone.
Searches all the files in current directory and all subdirectories for files that contain "hello". Add -l option to grep to only display the filenames instead of filename and match.
Also, everyone is trying to do cost calculations based solely on their transaction costs. You are not counting all the customer support they have to provide to setup all the accounts and maintain them which is significant.