Tag Archives: cash

Is there prize money given with olympic medals?

There’s no pay from the IOC (International Olympic Committee) when they win a medal. But many countries Olympic committees pay their athletes for winning medals. Among them, The U.S., Russia, Canada, China & Italy and many more countries.

$20K-$50K per gold medal is typical in bigger countries. The smaller countries actually tend to pay more, $50K-$100K, since a single gold is more important to their country. Some athletes receive cars, houses and promise of jobs when they retire.

 

Source: Yahoo! Answers

 

In the U.S., our athletes receive, from the U.S. Olympic Committee, $25,000 for gold, $15,000 for silver, and $10,000 for bronze.

Swimmers, receive even more thanks to an organization called USA Swimming, who chips in an additional $75,000 for gold, as has been highly publicized for Missy Franklin.

 

 

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How Linkedin gets 20x more money per user than Facebook

Forbes has LinkedIn CEO Jeff Weiner on the cover—but the professional social network’s business model is the real hero of the story.

Here are some of the amazing statistics Forbes’ George Anders reports:

  • LinkedIn users spend an average of 18 minutes a month on the site. Facebook users spend 6.4 hours a month.
  • But LinkedIn gets $1.30 in revenue for every hour those users spend on site. Facebook: 6.2 cents.
  • Anders describes LinkedIn’s most expensive product offering, LinkedIn Recruiter, as a “Bloomberg terminal” for talent scouts. It costs up to $8,200 a year per “seat,” or user license.
  • Adobe, a big LinkedIn customer, has 70 seats. At list prices, that’s about half a million in revenue a year from a single client.
  • LinkedIn’s top salespeople make as much as $400,000 a year selling Recruiter.
  • LinkedIn spends 33 percent of revenue on sales and marketing.
  • LinkedIn’s profits are expected to double this year to $70 million.

 

Via - How LinkedIn Gets TWENTY Times More Money Per User Than Facebook

 

**Note: Facebook’s profit in the last quarter was $205 million on revenue of $1.1 billion.

 

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A different kind gold rush – scientists pay for meteorites, $1,000 a gram

In the Gold Rush town of Rescue, Brenda Salveson, a wife and mother of two, read a local news article about the meteorites. The area scattered with them, about three miles wide and 10 miles long, included Henningsen Lotus Park, where she walks her dog every morning. She noted what to look for: a rock that seemed out of place — different from anything around it. It would be dark and delicate.

On Wednesday, near the end of her stroll with Sheldon her dog, Salveson picked up a rock the size of a spool of thread that seemed to match the description.

She walked over to a group with metal detectors.

“I opened my hand and they all let out a collective gasp,” she said.

The geologists, as they turned out to be, wrapped the 17-gram stone in foil and told Salveson to get it into a bank vault.

A few minutes before, a firefighter had stopped to search at the park on his way to work and found a 2-gram meteorite in less than 20 minutes. A dealer paid him $2,000 on the spot.

- Meteorite hunters strike pay dirt

 

// Photo – Navicore

Talk is cheap…so make a Long Bet (for charity) to prove your prediction

Pronouncements about the future come easy. Even when made with an air of authority, they’re usually just cheap talk, rarely revisited. Only the tiny fraction that have proven correct tend to be remembered, when their authors want to take credit.

But what if there were some cash at stake?

The Long Bets Foundation, a new project masterminded by Well founder Stewart Brand and Wired editor-at-large Kevin Kelly, hopes to raise the quality of our collective foresight by incorporating money and accountability into the process of debate.

The idea is simple. If someone makes a grandiose claim, any skeptic can challenge it – “Would you bet on that?” – and the Long Bets Foundation will keep tabs on the wager, whether it takes five years or five decades to come to pass. If proven right, a predictor can relish the victory; if wrong, the challenger gets the glory.

 

 

The Bets:

- Over a ten-year period, the S & P 500 will outperform hedge funds, when performance is measured on a basis net of fees, costs and expenses. – $1,000,000 – (Warren Buffet vs. Protege Partners, LLC)

 

- At least one human alive in the year 2000 will still be alive in 2150. – $2,000 (Peter Schwartz vs. Melody Haller)

 

- Large Hadron Collider will destroy Earth. – $1,000 (Joe Keane vs. Nick Damiano)

 

- By 2020, a professional sports team (NFL, NBA, MLB, NHL, MLS) will integrate and have a woman as a team member/player. – $500 (Thomas Leavens vs. Martin Nisenholtz)

 

- By 2025, the states will have voted on at least one constitutional amendment to cede US federal power to a global government. – $800 (Thomas Quigley vs. Steven Midgley)

 

See more on the record bets.

 

By preserving the terms of the wager in public view, Long Bets promises to be more than a service for confident prognosticators. Over time, it hopes to foster better understanding of how predictions in aggregate work out in reality – what kinds of truths are easiest (or hardest) to forecast, and what kinds of people are right (or wrong) most reliably.

According to the Long Bets Foundation, all stakes are treated as charitable donations, tax deductible when the bet is made. Bettors designate nonprofits to receive the proceeds. Meanwhile, the foundation holds the funds in an investment account for the life of the bet, with half of the growth covering administrative costs. A competition designed to thrive in the public eye, Long Bets uses time as a teacher.

via Wired, May 2002

The Future of the Queue

For the 5th Ignite DC, Steve submitted a proposal. It was accepted and he was asked to present at the event. Below are the full text of the proposal and a video of the talk.

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Proposal

Have you been to an Apple store lately and noticed that nobody is queuing?

Their are no cash registers, no counter, and no cashier. Just a large group of over-friendly employees hanging out talking geek. When you want to buy something they pull out an iPhone to charge your card and print a receipt. Then a magical stockperson appears from the “back” with your new device.

Apple is the first retail operation to make the switch to mobile cashiers. But what happens if this catches on elsewhere…no more waiting for the check at restaurants and maybe no more of those creepy crawly slow lines?

A deep dive into this technology shows that smartphones are taking over. Who knows where this will go. Will the people be replaced by apps? Will mobile cashiers now be wandering around with devices the size of Zack Morris 1980s cell phone?

With all the reports of micro sales in the 100s of millions from paypal to apple to facebook, something is definitely up. Twitter founder Jack Dorsey, actually left Twitter to start his own micro payment company (square).

Join me as I explore this new technology and what it means, from the death of queuing to the self-serve starbucks and possibly the removal of all human interaction from our daily lives…

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Talk