Warren Buffett. He is a symbol of capitalism. Personally, I don’t listen to the guy much anymore because he is more or less a trophy wife. He is just paraded around to entertain the masses…With that said, I would like to tip my hat to the old bastard. He has made one of the most ingenious marketing plays I have ever witnessed. People will be piggy-backing this idea for years to come in some shape or form.
ONE BILLION DOLLARS. It does have a nice ring to it. All you have to do is pick every game correctly in the NCAA Tournament correctly. I’m not the sharpest tool in the shed, but those odds sound pretty slim. Just the same, I am an avid believer in playing lotteries once the pot gets to $220Mish. At that point, you are actually purchasing discounted tickets, but that is neither here nor there. The flashy payout alone is sure to get millions of people to sign up.
Anyone that has ever played in a March Madness bracket knows that nobody is going to win. Therefore, there is no real risk of paying out anything. Further, I feel confident that Buffett assumed the risk via one of his insurance companies so he likely just collects free premium from Quicken. Let me break that down, Quicken gets TONS of free marketing for an insurance policy that will never payout. Buffet gets free publicity for taking Quicken’s money. Now, here’s the BIG kicker. Everyone that signed up to play MUST click the ‘accept ads’ button. Ta-dah. Quicken and Buffett have figured out how to pay themselves to market their product. Amazing.
PS. I made it 3 games before losing. Buffet would be proud as an Ivy League school (Harvard) insured I won’t be retiring next month.
- “They say that nobody is perfect. Then they tell you practice makes perfect. I wish they’d make up their minds.” ~ Wilt Chamberlain
- “Be more concerned with your character than your reputation, because your character is what you really are, while your reputation is merely what others think you are.” ~ John Wooden
- “You can’t live a perfect day without doing something for someone who will never be able to repay you.” ~ John Wooden