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This is going to have a cascading economic impact. There are the channels that cover the tournament (e.g., ESPN), the tournament bracket sites that get ad reven

by mfer 7y ago

This is going to have a cascading economic impact. There are the channels that cover the tournament (e.g., ESPN), the tournament bracket sites that get ad revenue, the local businesses around the stadiums that host the games, and so much more.

elhudy 7y ago
I'd like to know the impact on Vegas
- rurp 7y ago
  Sports betting revenue makes up a surprisingly small percent of Vegas gaming revenue, something like %1.5 last I looked. However, I expect the general trend of people avoiding traveling and crowded places will have a massive effect on Vegas revenue as a whole.
joezydeco 7y ago
Illinois just approved sports books and casinos were rushing to open their betting windows before the tournament. Oops.
outoftouchtech 7y ago
This isn't meant to be directed at you, but it's hilarious to me what people are focusing on, or what supposedly triggers concern. And just what economic bubbles folks are in, with such little perspective for those around them that share common infrastructure that is going to be stressed in the coming weeks and months. Look. I have multiple friends who have already had all of their shifts canceled for the rest of March. And guess what, nothing is going to be better April 1st. Those folks don't have investment funds to sell. They don't have 401Ks to skim from early, at great cost. They don't have friends and family with money and their emergency fund wouldn't even cover the costs of HALF of a Coronavirus test, let alone a weeks worth of rent. We need to be talking about suspending evictions, delaying mortgage payments, nationalizing health care, and more. And if you think this is over the top, go watch and read about Italy and get back to me in 2.5 weeks. I can't wait for the rest of America to understand just what a precarious and fragile system we've built.
- astrophysician 7y ago
  I mean, I don't know the OP's intention here but I think they're probably right, all of these actions will have an economic impact. It's not a statement about whether or not we should or shouldn't do something, I think we need to take lots of big proactive measures, but big proactive measures have lots of collateral damage that isn't negligible. Economic impact will be felt by everyone, from the top to the bottom of the income ladder, so that's also a legitimate pain point... > suspending evictions, delaying mortgage payments, nationalizing healthcare I mean sure, I don't think I would disagree with any of that at all (good luck with the last part though, we've been trying that for 40 years), but to say that this wouldn't have a detrimental impact on the economy is a bit confusing to me...it will and that will hurt, but the idea is that it will hurt less than something like COVID running rampant or without measures to protect workers who will be hurt most by the economic fallout.
- bhb916 7y ago
  Fragile systems are generally built using single points of failure. Centrally planned solutions are generally rife with them. I will trust the robustness of a system made up of 327.7M individual plans then the command solutions you are suggesting. We will fair much better than Italy even if the disease is more widespread here.
  - entee 7y ago
    That's not likely. Italy has more hospital capacity per capita than we do [1], has lower cost hospital care, and has been more proactive about testing (almost 8x tests performed) [2]. More beds means less strain when things get bad. Lower costs means people don't wait to get care when needed. More testing means we know where to dedicate resources. The US is flying blind with a fragmented, expensive medical system that discourages those who need care or testing from getting that care. What might save us (marginally) is that much of the country is fairly rural, and we're far less dense so the spread rate might be lower. However strictly none of the doctors I've spoken to (one of whom is an infectious disease specialist at SF General) believes we have the capacity to deal with the crisis. To a person they say that if it starts spiraling in the US it will get very bad, very fast. By the way, those countries or areas that avoided the worst of it (Taiwan, Singapore, several provinces in China outside Wuhan, to a limited extent South Korea) have taken centralized, planned, dramatic action to do so. This is one place where central planning is probably the better choice. [1] https://en.wikipedia.org/wiki/List_of_OECD_countries_by_hospital_beds https://en.wikipedia.org/wiki/List_of_OECD_countries_by_hosp... [2] https://www.worldometers.info/coronavirus/covid-19-testing/ https://www.worldometers.info/coronavirus/covid-19-testing/
LeifCarrotson 7y ago
But interestingly, it won't affect the players' immediate economic futures, as they're all prohibited from being paid by the NCAA.
- jumpman500 7y ago
  Hmm you don’t think there’s any seniors that could play so well that they’d make the NBA draft?
  - birken 7y ago
    It isn't likely. An NBA caliber player that is a senior will likely have played 100+ NCAA basketball games. A few good/bad games in the tournament isn't going to change their overall chance of getting picked in the NBA draft. And the NBA draft is very shallow to begin with, only 60 picks total and still some of those players don't make the teams. In the NFL and MLB it is very common for undrafted/late round picks to become stars, but not common at all in the NBA where your physical ability (which is easily measurable) is so important for excelling. There also is the G-League which is essentially the NBA minor league. Anybody on the bubble of making the NBA who wants a job will get a chance in the G-League, and if they were truly NBA caliber then they'd prove themself and get the opportunity.
    - dwighttk 7y ago
      there have been guys who went from a second round pick (non-guaranteed contract) to a first round pick (guaranteed $1M+) on the strength of their tournament play.
      - birken 7y ago
        But of course there is another player who had a bad tournament or whose team didn't make the tournament that dropped from a first round pick to a second round pick based on another player rising. I'm basically trying to answer this question: Is there a player who is talented enough to play in the NBA, but won't get that chance because the NCAA tournament is cancelled. The answer is no. If the player is on the bubble they'll likely get a G-League contract and if they excel in the G-League they'll get a shot in the NBA. If they drop from the first round to the second round, they'll still get a chance. Obviously a good tournament or bad tournament might chance draft ordering and short term compensation, but the average NBA salary is ~7 million dollars. A million dollars here and there isn't going to make a difference if the player is truly NBA caliber.
capkutay 7y ago
Just looking at sports trickle-down economic impact in a vacuum, imagine all the other industries that will have similar consequences. Ones that aren't even visible to the average person but highly impactful on our daily lives. We're going to have to take special measures to make sure critical supply chains stay in tact.

by mfer 7y ago

elhudy 7y ago

I'd like to know the impact on Vegas

rurp 7y ago
Sports betting revenue makes up a surprisingly small percent of Vegas gaming revenue, something like %1.5 last I looked. However, I expect the general trend of people avoiding traveling and crowded places will have a massive effect on Vegas revenue as a whole.

joezydeco 7y ago

Illinois just approved sports books and casinos were rushing to open their betting windows before the tournament. Oops.

outoftouchtech 7y ago

This isn't meant to be directed at you, but it's hilarious to me what people are focusing on, or what supposedly triggers concern. And just what economic bubbles folks are in, with such little perspective for those around them that share common infrastructure that is going to be stressed in the coming weeks and months. Look. I have multiple friends who have already had all of their shifts canceled for the rest of March. And guess what, nothing is going to be better April 1st. Those folks don't have investment funds to sell. They don't have 401Ks to skim from early, at great cost. They don't have friends and family with money and their emergency fund wouldn't even cover the costs of HALF of a Coronavirus test, let alone a weeks worth of rent. We need to be talking about suspending evictions, delaying mortgage payments, nationalizing health care, and more. And if you think this is over the top, go watch and read about Italy and get back to me in 2.5 weeks. I can't wait for the rest of America to understand just what a precarious and fragile system we've built.

astrophysician 7y ago
I mean, I don't know the OP's intention here but I think they're probably right, all of these actions will have an economic impact. It's not a statement about whether or not we should or shouldn't do something, I think we need to take lots of big proactive measures, but big proactive measures have lots of collateral damage that isn't negligible. Economic impact will be felt by everyone, from the top to the bottom of the income ladder, so that's also a legitimate pain point... > suspending evictions, delaying mortgage payments, nationalizing healthcare I mean sure, I don't think I would disagree with any of that at all (good luck with the last part though, we've been trying that for 40 years), but to say that this wouldn't have a detrimental impact on the economy is a bit confusing to me...it will and that will hurt, but the idea is that it will hurt less than something like COVID running rampant or without measures to protect workers who will be hurt most by the economic fallout.
bhb916 7y ago
Fragile systems are generally built using single points of failure. Centrally planned solutions are generally rife with them. I will trust the robustness of a system made up of 327.7M individual plans then the command solutions you are suggesting. We will fair much better than Italy even if the disease is more widespread here.
- entee 7y ago
  That's not likely. Italy has more hospital capacity per capita than we do [1], has lower cost hospital care, and has been more proactive about testing (almost 8x tests performed) [2]. More beds means less strain when things get bad. Lower costs means people don't wait to get care when needed. More testing means we know where to dedicate resources. The US is flying blind with a fragmented, expensive medical system that discourages those who need care or testing from getting that care. What might save us (marginally) is that much of the country is fairly rural, and we're far less dense so the spread rate might be lower. However strictly none of the doctors I've spoken to (one of whom is an infectious disease specialist at SF General) believes we have the capacity to deal with the crisis. To a person they say that if it starts spiraling in the US it will get very bad, very fast. By the way, those countries or areas that avoided the worst of it (Taiwan, Singapore, several provinces in China outside Wuhan, to a limited extent South Korea) have taken centralized, planned, dramatic action to do so. This is one place where central planning is probably the better choice. [1] https://en.wikipedia.org/wiki/List_of_OECD_countries_by_hospital_beds https://en.wikipedia.org/wiki/List_of_OECD_countries_by_hosp... [2] https://www.worldometers.info/coronavirus/covid-19-testing/ https://www.worldometers.info/coronavirus/covid-19-testing/

LeifCarrotson 7y ago

But interestingly, it won't affect the players' immediate economic futures, as they're all prohibited from being paid by the NCAA.

jumpman500 7y ago
Hmm you don’t think there’s any seniors that could play so well that they’d make the NBA draft?
- birken 7y ago
  It isn't likely. An NBA caliber player that is a senior will likely have played 100+ NCAA basketball games. A few good/bad games in the tournament isn't going to change their overall chance of getting picked in the NBA draft. And the NBA draft is very shallow to begin with, only 60 picks total and still some of those players don't make the teams. In the NFL and MLB it is very common for undrafted/late round picks to become stars, but not common at all in the NBA where your physical ability (which is easily measurable) is so important for excelling. There also is the G-League which is essentially the NBA minor league. Anybody on the bubble of making the NBA who wants a job will get a chance in the G-League, and if they were truly NBA caliber then they'd prove themself and get the opportunity.
  - dwighttk 7y ago
    there have been guys who went from a second round pick (non-guaranteed contract) to a first round pick (guaranteed $1M+) on the strength of their tournament play.
    - birken 7y ago
      But of course there is another player who had a bad tournament or whose team didn't make the tournament that dropped from a first round pick to a second round pick based on another player rising. I'm basically trying to answer this question: Is there a player who is talented enough to play in the NBA, but won't get that chance because the NCAA tournament is cancelled. The answer is no. If the player is on the bubble they'll likely get a G-League contract and if they excel in the G-League they'll get a shot in the NBA. If they drop from the first round to the second round, they'll still get a chance. Obviously a good tournament or bad tournament might chance draft ordering and short term compensation, but the average NBA salary is ~7 million dollars. A million dollars here and there isn't going to make a difference if the player is truly NBA caliber.

capkutay 7y ago

Just looking at sports trickle-down economic impact in a vacuum, imagine all the other industries that will have similar consequences. Ones that aren't even visible to the average person but highly impactful on our daily lives. We're going to have to take special measures to make sure critical supply chains stay in tact.