The PIF Is Investing in Sports, Not Golf

The Public Investment Fund has put a lot more money into Uber than they put into LiveGolf. The PGA Tour has something like 23 sponsors that do $40 billion of business in Saudi Arabia. I have a theory about why Saudi funding of Live upsets people, whereas they're less bothered by Saudi investments in US companies. When the Saudis invest in companies, they do it on equal footing with everyone else. They pay the same price for a share and they gain or lose in lockstep with the other investors. It feels fair. But with Live coming in and offering huge signing bonuses and big prize money, I think it feels to some people. That's the story that I think is