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Step by Step: How Elon Musk Built His Empire (by Anna Vital)“The next Bill Gates will not build an operating system. The next Larry Page or Sergey Brin won’t make a search engine. Tomorrow’s champions will not win by competing ruthlessly in today’s marketplace. They will escape competition altogether, because their businesses will be unique.”– Peter Thiel in “Zero to One” In the bookZero to One, prominent entrepreneur and investor Peter Thiel shares his vision on what it takes to create an extraordinary company. Specifically, Thiel believes that instead of making incremental upgrades to an existing product or service, a company must aim to do something completely new to avoid ruthless competition. While Thiel has worked with many impressive people over the years, Thiel points to Elon Musk as a particularlysuccessful memberof the Paypal Mafia that has gone “zero to one” many times. THE RÉSUMÉAt only the…

Taiwan Olympic quest costs $103M

From ABS-CBN News.

TAIWAN – The Taiwanese government is using 90 percent of its revenues from lottery games to put up what is conceivably the biggest budget ever in its quest for Olympic fame, hoping it could improve on its four-bronze medal finish in the Beijing 2008 Olympics with its participation in the London Olympics and beyond.

This island state of 23 million just north of Batanes has earmarked NT 4.3B (roughly US$103 million) – NT 2.1 billion of which comes from national funds – to bankroll a one-and-a-half year program that includes recruitment, selection, training and actual participation of the final list of players, including those of the Paralympic Games which takes place after the regular Olympics.

The program, which includes 26 of the 28 Olympic sports minus baseball and basketball, has produced a final roster of 42 athletes who have qualified from 14 sports for the Olympic Games slated July 27-Aug. 13 in London.

The training expenses include regular monthly allowances of about $2,000 per national player and a provision for bonuses for gold, silver and bronze medal finishes of every player and his coach.

Dana Tai, Taiwan’s Sports Affairs Council Minister, said the government has put up NT 2.5B this year, with its national lottery expected to raise NT 2.1B from 90 percent of its revenues.

Tai, a former national athlete who is now into triathlon, said that through her recommendations, the lottery games are now being used extensively for Taiwan’s sports program, which covers 26 sports, with elite sports as the major beneficiary.

She said the lottery games, a big source of government revenue, used to channel a bigger percentage to the poor sector of society but had shifted to sports as the island nation fuels its long-range campaign for a place among the superpowers of Olympic sports. In 2008, it had two bronze medals each from taekwondo and weightlifting, a drop from its 2-2-1 output in 2004.

Taiwan lottery is the counterpart of the Philippines’ Philippine Charity Sweepstakes Office, which runs the lotto games, and the Philippine Amusements and Gaming Corp., which funds the operations of the Philippine Sports Commission from 2.5 percent of its revenues from the casinos.

The PSC and the Philippine Olympic Committee have, in fact, questioned Pagcor’s interpretation of the law on what percentage should be allotted to the PSC on a monthly basis.

Still, the six percent revenue being pushed by the PSC and POC is way below what is now being allotted to sports by the Taiwanese government.

The government fund comes from the General Appropriations Act of Congress but this is allotted to the PSC for its general and administrative expenses, with part of it going to the countryside development fund (CDF) for grassroots development and the national games.

The Pagcor funds are for elite training. The assistance to athletes from Pagcor is subject to the availability of these funds.

Read the rest of the article here.

When will the Philippines ever dedicate this much funding for Philippine sports? Sadly, I think it will be never.


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