Sports is zero-sum in the way that there's a fixed amount of money to be distributed from ticket sales and TV rights. That money goes to the top few hundred at

Sports is zero-sum in the way that there's a fixed amount of money to be distributed from ticket sales and TV rights. That money goes to the top few hundred athletes/clubs/franchises in every sport - doesn't matter whether there are a million or a billion aspiring players. Pertinently, active investment management - Buffett's forte - is similarly zero-sum in the way fees on managed assets accrue, although the stock market as a whole isn't.