Warren Buffett = Smartest business man in the world

[THam12]

As if the world hadn't already known how smart this man was, he reminds us again.

He has generated some of the most amazing marketing, without even allowing consumers to realize it.

He took one of the most popular sporting events and "gambling" games and created a HUGE prize.
A prize that he knows he will not have to pay, he knows his odds. He then allows everyone to sign up, grabs their email address and BOOM, EVERYONE is talking about it. His name is all over EVERY news station, in every paper, every website...

It's simple, generate conversation, entice people to learn more.

I salute Mr. Buffett. He has once again shown that he is a man to learn from. This is how you do business. This is how you win at life.

[TheMoneyShot]

I believe originally this contest was scheduled to be a top prize of 25 million for a perfect bracket. Either Buffett made it 1 billion or Dan Gilbert did. I wonder how easy it is to hack into this database and rig it so there's a perfect bracket??? I'm sure some idiot will try it.

[ChalkyDog]

It's genius. Have you seen the info you have to give up, or the terms and conditions?

He is choosing an impossible task, and making people who want to try and complete the task, give up a wealth of personal information to include cell phone number which opens you up to receiving Yahoo marketing texts directly to your cell.

All at a cost of Zero to him and the companies personally. People are lining up to do this.

That hasn't even touched on the marketing/branding aspect.

[No coincidences]

Odds of a perfect bracket are 9.2 quintillion to 1.

http://ftw.usatoday.com/2014/03/ncaa-tournament-odds-perfect-bracket-yahoo-warren-buffett/

[ChalkyDog]

Odds of a perfect bracket are 9.2 quintillion to 1.

http://ftw.usatoday.com/2014/03/ncaa...arren-buffett/

Crazy number. It's not practically correct, but theoretically on point.

More like 128 billion to 1, and actually probably a lot less than that. For instance, any combination of a double digit seed winning the championship are absolutely useless combinations.

That said, 100 billion to 1 or 9 quintillion to 1 - basically impossible remains basically impossible.

[InTheDrink]

autistic kid got the first 48 right a few years back

http://voices.suntimes.com/sports/sports-prose/alex-herrmann-the-autistic-kid/

id love for it to be done just to shove it up their ass....which i assume wouldnt even really matter because its probably insured

[TheCentaur]

which i assume wouldnt even really matter because its probably insured

Wouldn't even need to be insured. Guy is worth close to 60 billion. If you were worth say 60k and you lost 1k it wouldn't be the end of the world, especially if you got a ton of advertising value from it

[ChalkyDog]

autistic kid got the first 48 right a few years back

http://voices.suntimes.com/sports/sports-prose/alex-herrmann-the-autistic-kid/

id love for it to be done just to shove it up their ass....which i assume wouldnt even really matter because its probably insured

It's a Quicken Loans bracket challenge technically.

It's insured by Warren Buffett's Berkshire Hathaway.

[farmhouse1]

It's genius. Have you seen the info you have to give up, or the terms and conditions?

He is choosing an impossible task, and making people who want to try and complete the task, give up a wealth of personal information to include cell phone number which opens you up to receiving Yahoo marketing texts directly to your cell.

All at a cost of Zero to him and the companies personally. People are lining up to do this.

That hasn't even touched on the marketing/branding aspect.

Exactly why I said fuxk that shittt. I'm not putting all that info on their

[James D]

My favorite stat is since espn has been doing a pick the tourney contest only one person every went through the first weekend perfect. That's mind boggling considering the games get much much harder to predict each round.

[jtoler]

From all the names and emails he will collect and the fact that a certain percentage will do business with him/Quicken and the people who they will tell which snowballs for years on end and with the brand getting out even more, he will make billions off of that alone.

[newguy]

It's a Quicken Loans bracket challenge technically.

It's insured by Warren Buffett's Berkshire Hathaway.

This is right. Quicken paid buffet some amount to be named sponsor and insure the contest. So it's a marketing cost for quicken. Rick Reilly wrote good article on this at espn. Go check it out. Buffet makes millions off quicken. Quicken gets all these sales leads. Really a win win.

[mikemca]

[k13]

Nothing original about it.

Easy to make money with money.

[Unwritten Law]

I will have the perfect bracket.

[TakingVegasMoney]

This is right. Quicken paid buffet some amount to be named sponsor and insure the contest. So it's a marketing cost for quicken. Rick Reilly wrote good article on this at espn. Go check it out. Buffet makes millions off quicken. Quicken gets all these sales leads. Really a win win.

A win-win until I'm cashing that billion dollar check

[InTheDrink]

My favorite stat is since espn has been doing a pick the tourney contest only one person every went through the first weekend perfect. That's mind boggling considering the games get much much harder to predict each round.

I can't imagine this is true. Link?

[trytrytry]

the guys ego is hyper inflation. dont know why he felt he had to insert himself into this great event..

[tb1984]

I can't imagine this is true. Link?

Odds of a perfect bracket are 9.2 quintillion to 1.

http://ftw.usatoday.com/2014/03/ncaa...arren-buffett/

It's in this link.

[THam12]

the guys ego is hyper inflation. dont know why he felt he had to insert himself into this great event..

"Ego"?
This guy is a multi billionaire who still lives a very modest lifestyle.
Who also gives more of his money to charity than he keeps or gives to his own children.
He has helped many companies by buying them and running them to perfection.

[Louisvillekid1]

Isn't he giving away 100k for each of the top 20?

[scottie2005]

the guys ego is hyper inflation. dont know why he felt he had to insert himself into this great event..

It's not about ego with WB. Not too many insurance companies out there can handle a $1 Billion loss and still be healthy. I can guarantee the premium he is receiving makes it worth his while.

[Wulfman14]

the guys ego is hyper inflation. dont know why he felt he had to insert himself into this great event..

Ego? You see the simple life he lives. How much charity he gives to the bill gates foundation.
ego. Lololololol

[TakingVegasMoney]

Isn't he giving away 100k for each of the top 20?

Yup -- 100k for each top 20. And 2 million to a charity (forgot which one they said. They had him and Dan Gilbert interviewed on Espn radio the other day)

[Dan Kelly]

Buffett and Gilbert were on CNBC promoting this, and Gilbert said that he paid Buffett for the insurance on a Billion $ winner. The interviewer asked how much the insurance was a couple of times, but they just brushed off the question. Gilbert didn't want to say that he paid Buffett 10 cents for the insurance because he would have looked like a fool for overpaying.

BOL

[jonal]

the guys ego is hyper inflation. dont know why he felt he had to insert himself into this great event..

shows how little you know about Buffett, hyper inflation, and ego.

[70kgman]

A perfect bracket in Wager Web's bracket contest is worth a whopping 15K freeplay.

[goduke]

It's not about ego with WB. Not too many insurance companies out there can handle a $1 Billion loss and still be healthy. I can guarantee the premium he is receiving makes it worth his while.

Hes making roughly 15-20 million as a premium

[The Kraken]

Fine print says that only the first 15 million entries are valid. I wonder if they've already surpassed that number but are continuing to collect personal information without informing everyone that they fall outside of that 15,000,000 mark.

It would suck to not know you're outside of that number and then accidentally pick a perfect bracket. I'd likely kill Warren Buffet and a few Quickens Loans execs

[InTheDrink]

Fine print says that only the first 15 million entries are valid. I wonder if they've already surpassed that number but are continuing to collect personal information without informing everyone that they fall outside of that 15,000,000 mark.

It would suck to not know you're outside of that number and then accidentally pick a perfect bracket. I'd likely kill Warren Buffet and a few Quickens Loans execs

there might be a million emails in there that will end up being worth a shit after sorting out the opt ins

all the people in here fawning over warren buffett for this particular thing are getting a little too excited

[Naz18]

autistic kid got the first 48 right a few years back

http://voices.suntimes.com/sports/sports-prose/alex-herrmann-the-autistic-kid/

id love for it to be done just to shove it up their ass....which i assume wouldnt even really matter because its probably insured

Buffett is already giving away at least half his wealth away to charities once he dies...doubt he cares about 1 billion.

[Eddy Munny]

My bracket is gonna be perfect up until the national championship game and then you're gonna see the largest hedge in the history of the world.

[Plaza23]

I didnt sign up because its a scam. Yahoo makes you give them your phone number to enter, and in turn you give them permission to spam text you a bunch of advertisements. Sorry, not going to do it.

[Thor4140]

It's genius. Have you seen the info you have to give up, or the terms and conditions?

He is choosing an impossible task, and making people who want to try and complete the task, give up a wealth of personal information to include cell phone number which opens you up to receiving Yahoo marketing texts directly to your cell.

All at a cost of Zero to him and the companies personally. People are lining up to do this.

That hasn't even touched on the marketing/branding aspect.

When i saw they needed a phone number i tapped out.

[jtoler]

Fine print says that only the first 15 million entries are valid. I wonder if they've already surpassed that number but are continuing to collect personal information without informing everyone that they fall outside of that 15,000,000 mark.

It would suck to not know you're outside of that number and then accidentally pick a perfect bracket. I'd likely kill Warren Buffet and a few Quickens Loans execs

Biggest scam of the century, not only are the odds of winning astronomical, they become even more astronomical by limiting the number of entrants, but thats how many rich get rich by being con artists. The price of giving up personal info is worth alot more than submitting a bracket that nobody will win with, even if they gave you say 50 bucks, still not worth what giving up personal info could cost you.