<story><title>Take Buffett&apos;s Billion</title><url>http://www.takebuffettsbillion.com/</url></story><parent_chain><item><author>startupfounder</author><text>Buffett is making big money on this deal, increasing his personal brand and here is how (my guess):&lt;p&gt;Quicken is paying Buffett for the advertising exposure right before tax season.&lt;p&gt;Quicken is also taking out prize indemnity insurance[0] from National Indemnity Company[1] which Buffett owns.&lt;p&gt;Even if someone happens to beat the odds (which they won&amp;#x27;t) it&amp;#x27;s still a win-win for Buffett because he has stacked the odds in his favor.&lt;p&gt;Its 40 annual payments of $25M or a single payout of $500M. Also, they are only allowing 10M people to register.[2]&lt;p&gt;We should all take a note from his playbook on this one.&lt;p&gt;[0] &lt;a href=&quot;http://en.wikipedia.org/wiki/Prize_indemnity_insurance&quot; rel=&quot;nofollow&quot;&gt;http:&amp;#x2F;&amp;#x2F;en.wikipedia.org&amp;#x2F;wiki&amp;#x2F;Prize_indemnity_insurance&lt;/a&gt;&lt;p&gt;[1] &lt;a href=&quot;http://en.wikipedia.org/wiki/National_Indemnity_Company&quot; rel=&quot;nofollow&quot;&gt;http:&amp;#x2F;&amp;#x2F;en.wikipedia.org&amp;#x2F;wiki&amp;#x2F;National_Indemnity_Company&lt;/a&gt;&lt;p&gt;[2] &lt;a href=&quot;http://www.latimes.com/business/money/la-fi-mo-warren-buffett-billion-dollar-bet-ncaa-basketball-20140121,0,1345560.story#axzz2reJ7kr1a&quot; rel=&quot;nofollow&quot;&gt;http:&amp;#x2F;&amp;#x2F;www.latimes.com&amp;#x2F;business&amp;#x2F;money&amp;#x2F;la-fi-mo-warren-buffet...&lt;/a&gt;</text></item></parent_chain><comment><author>startupfounder</author><text>Fun Side Note:&lt;p&gt;The $10M Ansari XPRIZE payed out to Burt Rutan &amp;amp; SpaceShipOne was &amp;quot;hole-in-one&amp;quot; indemnity insurance because the insurer took the bet that a team couldn&amp;#x27;t get to space twice within the allotted time period. The Ansari family put up the money to pay the premium to get the $10M insurance. Genius.&lt;p&gt;This is also a fascinating story about thinking outside the box on a galactic scale.&lt;p&gt;&lt;a href=&quot;http://www.thespacereview.com/article/234/1&quot; rel=&quot;nofollow&quot;&gt;http:&amp;#x2F;&amp;#x2F;www.thespacereview.com&amp;#x2F;article&amp;#x2F;234&amp;#x2F;1&lt;/a&gt;&lt;p&gt;&lt;a href=&quot;http://www.ted.com/talks/peter_diamandis_on_our_next_giant_leap.html&quot; rel=&quot;nofollow&quot;&gt;http:&amp;#x2F;&amp;#x2F;www.ted.com&amp;#x2F;talks&amp;#x2F;peter_diamandis_on_our_next_giant_l...&lt;/a&gt;</text></comment>
<story><title>Take Buffett&apos;s Billion</title><url>http://www.takebuffettsbillion.com/</url></story><parent_chain><item><author>startupfounder</author><text>Buffett is making big money on this deal, increasing his personal brand and here is how (my guess):&lt;p&gt;Quicken is paying Buffett for the advertising exposure right before tax season.&lt;p&gt;Quicken is also taking out prize indemnity insurance[0] from National Indemnity Company[1] which Buffett owns.&lt;p&gt;Even if someone happens to beat the odds (which they won&amp;#x27;t) it&amp;#x27;s still a win-win for Buffett because he has stacked the odds in his favor.&lt;p&gt;Its 40 annual payments of $25M or a single payout of $500M. Also, they are only allowing 10M people to register.[2]&lt;p&gt;We should all take a note from his playbook on this one.&lt;p&gt;[0] &lt;a href=&quot;http://en.wikipedia.org/wiki/Prize_indemnity_insurance&quot; rel=&quot;nofollow&quot;&gt;http:&amp;#x2F;&amp;#x2F;en.wikipedia.org&amp;#x2F;wiki&amp;#x2F;Prize_indemnity_insurance&lt;/a&gt;&lt;p&gt;[1] &lt;a href=&quot;http://en.wikipedia.org/wiki/National_Indemnity_Company&quot; rel=&quot;nofollow&quot;&gt;http:&amp;#x2F;&amp;#x2F;en.wikipedia.org&amp;#x2F;wiki&amp;#x2F;National_Indemnity_Company&lt;/a&gt;&lt;p&gt;[2] &lt;a href=&quot;http://www.latimes.com/business/money/la-fi-mo-warren-buffett-billion-dollar-bet-ncaa-basketball-20140121,0,1345560.story#axzz2reJ7kr1a&quot; rel=&quot;nofollow&quot;&gt;http:&amp;#x2F;&amp;#x2F;www.latimes.com&amp;#x2F;business&amp;#x2F;money&amp;#x2F;la-fi-mo-warren-buffet...&lt;/a&gt;</text></item></parent_chain><comment><author>ssharp</author><text>The deal is with Quicken Loans, not Quicken&amp;#x2F;Intuit. The companies are no longer related and have separate ownership.&lt;p&gt;Quicken Loans is owned by Dan Gilbert who also owns the Cleveland Cavaliers, so he&amp;#x27;s obviously interested in basketball.</text></comment>