Dan Gilbert, owner of Quicken Loans is offering a one billion dollar prize for a 2014, 64 team NCAA Perfect Bracket prediction. The offer is being insured by Warren Buffet's Berkshire Hathaway.
Besides one billion dollars to the person who picks all 64 NCAA's team's tournament destiny, twenty $100,000 awards will go to the next 20 best predictors, and perhaps most importantly, a million dollars will be donated to Cleveland and Detroit inner city educational non-profit organizations.
What I find wanting is the golden opportunity that has been missed with this contest. This was a chance for the 1% to offer a 1% of 1 billion dollars (10 million) to the person with a perfect bracket, and the other 99% (990 million dollars) for non-profits to be determined by the perfect bracket 10 million dollar winner.
Does anyone really think that less people would enter this contest if they could only win 10 million dollars instead of a billion. If we think about this for a moment, would not the lure to give away the other 990 million dollars to non-profits of their choice be just as great as winning one billion dollars for oneself? I don't think there would be any less participation if the contest had been configured to give 990 million to non-profits and 10 million to the perfect bracket winner.
A chance to let the average person dream about how they would change the world for the better has been lost, and instead we just have a billion dollar prize that most likely will be won by nobody while reinforcing the me first mentality that is already far to prevalent in today's society.
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