Roger Mitchell on Investing in Sports Amid the Fourth Turning | #546
The Meb Faber Show - Better Investing
Meritocracy: The Double-Edged Sword of Sports
European sports exemplify total meritocracy, where players can rise through divisions based on performance, leading to opportunities in elite competitions like the Champions League. Success is rewarded with promotion while failure leads to relegation, fostering a competitive environment. However, this system poses financial challenges, revealing a stark contrast with American sports constructs, which do not operate on the same merit-based principles. This duality highlights both the merits of rewarding effort and the vulnerabilities within the business model of sports.
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