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The Teenagers Getting Six Figures to Leave Their High Schools for Basketball
- syspec 5y agohttps://archive.md/KdsDY https://archive.md/KdsDY
- amiamigo 5y agoMan this website is wonderful
- BasilPH 5y agoI just realised it has a an FAQ: https://archive.ph/faq https://archive.ph/faq It's fun read: > How is the archive funded? > It is privately funded; there are no complex finances behind it. It may look more or less reliable compared to startup-style funding or a university project, depending on which risks are taken into account. but doesn't seem to be very up to date > Will advertising appear on the archive one day ? > I cannot make a promise that it will not. With the current growth rate I am able to keep the archive free of ads. Well, I can promise it will have no ads at least till the end of 2014. although true.
- ykevinator2 5y agoThis reminds me of ycombinator. Exploit young people into entering a lottery where the only winner is the diversified investor.
- apsec112 5y agoAnyone who can get into YC can easily find a well-paying job elsewhere, which is not true for a teenage dropout whose only skill is basketball
- m_ke 5y agoThese are some of the best athletes at their age. All of them are guaranteed to make 6 figures playing in Europe if their NBA dreams don't pan out.
- hooloovoo_zoo 5y agoUnless they get injured in which case they make 0.
- thelock85 5y agoIt’s not difficult to get a 7-figure loss-of-value insurance policy at this level of talent.
- hooloovoo_zoo 5y agoLet's say every one of these players is in the top 100 high school prospects (which I doubt). Less than 1/3 of them will even make it to the NBA, let alone make big money there (source https://pudding.cool/2019/03/hype/ https://pudding.cool/2019/03/hype/). Why would anyone insure them?
- thelock85 5y agoI don’t follow those assumptions. There are only 36 roster spots currently in the Overtime Elite league the article references. They are almost certainly all Top 50/100 prospects who can leverage recruitment from the likes of Duke, Kansas and Kentucky to get a call from Overtime. The Ignite team in NBA G League is more exclusive with the latest player signing a 2-year $1M deal. AFAIK only one of 4 HS players to-date from the Ignite team went undrafted after playing. Nonetheless odds of being drafted should affect premium and payout, not decision to insure. People get all kinds of novel stuff insured all the time.
- op00to 5y agoTruly elite level basketball players are likely smart and hard working. Why wouldn’t they find a job easily?
- client4 5y agoIf they get cash up front the time value of money and compounding interest will set them up for a lifetime of higher wage earnings than college -- assuming they don't blow all of it immediately.
- jimbob45 5y agoThey blow it all immediately. It would be better to set up a fund that they can’t touch for 30 years with a small wage on the side but that would be pointless because there would be nothing stopping them from taking out early loans against the fund.
- pembrook 5y agoAh yes. The losers of the ycombinator lottery. Who have to give up their dreams…and schlep over to FAANG to make a paltry $300k/yr for doing largely nothing and with zero risk. Tragic. Sounds exactly like the plight of the inner city kid trying to escape poverty with hoop dreams.