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That they funded the prize with an insurance policy was pure genius.
by rudyfink 18y ago
That they funded the prize with an insurance policy was pure genius.
- shabda 18y agoHow did they do this? I cant find any such reference here, http://en.wikipedia.org/wiki/Ansari_X_Prize http://en.wikipedia.org/wiki/Ansari_X_Prize
- pchristensen 18y agoPeter Diamandis talks about it in this Stanford talk (edcorner.stanford.edu/authorMaterialInfo.html?mid=2002 ) (not loading right now). Basically, he paid $1m (I think) for a $10m insurance policy. He almost lost it because he couldn't make the payments. The Ansari family stepped in and paid the rest of the policy premium so he named it after them.
- brent 18y agoAren't most (all?) high dollar / low probability prizes paid with insurance?
- mhb 18y agoIsn't insurance just a different name for a high dollar / low probability bet? And, nowadays (e.g.,HMOs), low dollar / high probability bets.