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New Delhi, The brand value of the <keyword id="6354831" type="COMPANY" weightage="20" keywordseo="indian-premier-league">Indian Premier League</keyword> (<keyword id="6354312" type="COMPANY" weightage="20" keywordseo="IPL">IPL</keyword>) went down for the first time in six years - by 3.6 per cent over one year. From Rs 47,500 crore in 2019, it fell to Rs 45,800 crore in 2020, the first decline since 2014, a report said on Wednesday. And in terms of US dollars, <keyword id="10904414" type="UNKNOWN" weightage="20" keywordseo="ipl-ecosystem-valuation">IPL ecosystem valuation</keyword> in 2019 was $6,780 million while in 2020 it was $6,190 million -- a change of 8.7 per cent, from Duff &amp; Phelps, a Kroll Business, which specialises in brand valuation, said in its report. "Year 2020 was a challenging one with economic distress and uncertainty due to the COVID-19 pandemic. The sports economy was not immune to this crisis, and the pandemic disrupted the sporting calendar for the year, with a string of tournaments being postponed or cancelled." IPL was relocated to the United Arab Emirates (UAE) as the Indian government had paused sporting activities due to Covid-19. But the Indian cricket board was keen to organise the IPL, and that's why the tournament was shifted, like it did in 2009, when it was played in South Africa. "The IPL also felt the heat of the pandemic, and the findings of the seventh edition of this annual IPL study suggest that the IPL ecosystem value has decreased by 3.6 per cent in constant currency terms to Rs 45,800 crore from Rs 47,500 crore last year," said the report. Duff &amp; Phelps undertook a study during the initial lockdown period (April 2020) to analyse the initial impact of COVID-19 on the value of the IPL ecosystem, which was estimated in the IPL Brand Valuation Report 2019. Based on the scenarios it considered, the IPL ecosystem value was estimated to be impacted by nearly $1 billion only due to cancellation and without capturing the impact of the economic slowdown that might follow. "In our impact study, we had mentioned that depending on the extent of the post COVID-19 slowdown, most <keyword id="6371232" type="UNKNOWN" weightage="20" keywordseo="sponsors">sponsors</keyword>hip contracts may get renegotiated next year, as the spending power of the advertisers and sponsors is likely to be impacted by the economic slowdown," Duff &amp; Phelps said. This does appear to have played out when <keyword id="215177" type="DOMAIN" weightage="20" keywordseo="Vivo">Vivo</keyword> decided to pull out of the title sponsorship at the last moment, and IPL had to scramble to get a new sponsor at the eleventh hour. The new sponsor entered at a steep discount, and the IPL had to take a hit of Rs 218 crore in sponsorship revenues. In 2020, the IPL had lower sponsorship revenues as compared to previous years. Much of this is attributed to Vivo pulling out of the title sponsorship deal and being replaced by Dream11. Dream11 paid Rs 222 crore for the season, as against Vivo's cancelled contract of Rs 440 crore/season for the IPL title sponsorship. The individual franchisees have also witnessed a reduction in their brand values over the last year, mainly due to reduced franchisee-related sponsorship revenue, loss of gate receipts, reduced food and beverage (F&amp;B) revenue and certain teams' on-field performances. The report further stated that champions Mumbai Indians remained the most valuable franchise with a brand value of Rs 761 crore. However, this is down by 5.9 per cent from Rs 809 crore in 2019. The highest drop in brand value was suffered by three-time champions Chennai Super Kings, who were evaluated at Rs 611 crore which is down 16.5 per cent from Rs 732 crore after IPL 2019. Kolkata Knight Riders have seen the second highest brand reduction at 13.7 per cent from Rs 629 crore after IPL 2019 to Rs 543 crore last year. "Similar to the impact on other businesses and the overall economy, the pandemic led to a decline in the IPL ecosystem value. However, with people forced to spend time at home, there was an increase in IPL television viewership. The 2020 edition was a huge success for broadcasters as it broke viewership and advertising revenue records. Television ratings skyrocketed and advertisers tapped into this opportunity to scale up their brand image. Despite the challenging year, this momentum is indicative of how strong the IPL brand has become," said Santosh N., External Advisor, Duff &amp; Phelps India Pvt Ltd. However, IPL's impact on its sponsors and partners continues to be remarkable, said the report. Following the announcement of central sponsorships by the <keyword id="82275" type="COMPANY" weightage="20" keywordseo="Board-of-Control-for-Cricket">Board of Control for Cricket</keyword> in India (BCCI), the title sponsor Dream11 secured USD 225 million in funding, one of the official sponsors Unacademy joined in with a funding of USD 150 million, and another official sponsor, Cred, secured USD 80 million. "With the economy opening and Covid-19 cases decreasing in India, we expect sponsorship deals to be back to their pre-COVID-19 levels. We have now entered a more stable phase in terms of the IPL ecosystem's value; the value appreciation is not expected at the rate of previous years. However, an increase in the number of teams in 2022 and the renewal of media rights in 2023 could enhance the IPL ecosystem value in the future," Santosh said. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/checkout-review-of-oppo-fitness-band-related-to-design-performance-price-and-battery-life/articleshow/81423414.cms">Oppo Band Style review – getting the basics right with a twist of flair</a> <a href="https://www.businessinsider.in/international/news/narendra-modi-joe-biden-yoshihide-suga-and-scott-morrison-are-set-to-meet-for-the-first-ever-quad-leaders-summit-on-march-12/articleshow/81424117.cms">The first-ever leaders summit of the QUAD may be another signal that it's ready for something more formal</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-share-allotment-status-of-mtar-technologies-ipo/articleshow/81424102.cms">MTAR Technologies IPO: Here is how to check share allotment status</a> <a href="https://www.businessinsider.in/tech/enterprise/news/tcs-cfo-explains-how-the-role-of-a-finance-head-has-been-changed-by-the-pandemic/articleshow/81423884.cms">EXCLUSIVE: TCS CFO explains how the role of a finance head has been changed by the pandemic</a>

IPL brand value falls for first time in 6 yrs, says report

<ul><li>Mumbai Indians retained the top spot in the franchise brand rankings for the fifth consecutive year, with a brand value of INR 761.0 crore, down 5.9% from last year.</li><li>Chennai Super Kings (CSK) and Kolkata Knight Riders (KKR) have seen their brand value erode by approximately 16.5% and 13.7%, respectively, compared to last year.</li></ul>Duff &amp; Phelps, A Kroll Business, today released key findings from its IPL Brand Valuation Report 2020, a study of brand values in the Indian Premier League (IPL). 2020 was a challenging year with economic distress and uncertainty due to the COVID-19 pandemic. The sports economy was not immune to this crisis, and the pandemic disrupted the sporting calendar for the year, with a string of tournaments being postponed or cancelled. The IPL also felt the heat of the pandemic, and the findings of the seventh edition of this annual IPL study suggest that the IPL ecosystem value has decreased by 3.6% in constant currency terms to INR 45,800 crore from INR 47,500 crore last year. The individual franchisees have also witnessed a reduction in their brand values over the last year, mainly due to reduced franchisee-related sponsorship revenue, loss of gate receipts, reduced food and beverage (F&amp;B) revenue and certain teams’ on-field performances. “Similar to the impact on other businesses and the overall economy, the pandemic led to a decline in the IPL ecosystem value. However, with people forced to spend time at home, there was an increase in IPL television viewership. The 2020 edition was a huge success for broadcasters as it broke viewership and advertising revenue records. Television ratings skyrocketed and advertisers tapped into this opportunity to scale up their brand image. Despite the challenging year, this momentum is indicative of how strong the IPL brand has become,” said Santosh N, External Advisor, Duff &amp; Phelps India Pvt. Ltd. “With the economy opening and COVID-19 cases decreasing in India, we expect sponsorship deals to be back to their pre-COVID-19 levels. We have now entered a more stable phase in terms of the IPL ecosystem's value; the value appreciation is not expected at the rate of previous years. However, an increase in the number of teams in 2022 and the renewal of media rights in 2023 could enhance the IPL ecosystem value in the future,” Santosh added. Commenting on the future of the sports ecosystem in India, Varun Gupta, Managing Director and Asia Pacific Leader for Valuation Advisory Services at Duff &amp; Phelps, A Kroll Business said, “The IPL reflects the evolution of the modern cricket business, with clubs benefitting not only from the sport's enduring popularity in India but also from the game going global and from some great marketing initiatives. We believe that for growth trajectories to maintain their momentum, all teams need to continue broadening their footprint, forming relationships and generating revenue opportunities in growth markets.” In 2020, IPL season 13 has seen lower sponsorship revenues as compared to previous years (Dream11 paid INR 222 crores for the season, as against Vivo’s cancelled contract of INR 440 crores per season for the IPL title sponsorship). However, IPL’s impact on its sponsors/partners continues to be remarkable. Following the announcement of central sponsorships by the Board of Control for Cricket in India, the title sponsor Dream11 secured USD 225 million in funding, one of the official sponsors Unacademy joined the unicorn club with funding of USD 150 million, and another official sponsor CRED secured USD 80 million, bringing it closer to unicorn status.

The IPL ecosystem value has decreased by 3.6% to Rs 45,800 crore in 2020 from Rs 47,500 crore in 2019: Duff & Phelp

<a href="https://www.insider.com/category/me-first"></a><div type="image" title="Naomi Osaka looks pensive while wearing a black and orange tennis shirt and visor and holding two tennis balls" height="916" width="1221" msid="92443800" hostid="261" sizebytes="82494"></div><ul class="summary-list"><li>In an <keyword id="11898458" type="UNKNOWN" weightage="60" keywordseo="essay" source="Orion">essay</keyword> for Insider, <keyword id="11901215" type="UNKNOWN" weightage="60" keywordseo="naomi-osaka" source="Orion">Naomi Osaka</keyword> reflects on her mental-health journey and business ventures.</li><li>"I have a duty to use my platform to help create a more progressive world for others," Osaka wrote.</li></ul>As a young girl, I was always tasked with writing down a list of tangible goals I wanted to accomplish in my lifetime. I'm not sure if I ever really put pen to paper, but being a professional tennis player was at the top of my list. Little did I know that all my dreams would come true and I would end up <a href="https://www.insider.com/naomi-osaka-career-biography-photos-2019-1" target="_blank" rel="nofollow noopener sponsored">moving the needle</a> for marginalized communities.I'm proud to have accomplished many historic firsts, such as becoming the first Asian ranked as the <a href="https://www.espn.com/tennis/story/_/id/25855373/stats-naomi-osaka-first-asian-world-no1-marathon-australian-open-final-vs-petra-kvitova" target="_blank" rel="nofollow nofollow noopener sponsored sponsored">No. 1 tennis player in the world</a>, the first Japanese player to <a href="https://olympics.com/en/news/naomi-osaka-makes-history-with-us-open-win" target="_blank" rel="nofollow noopener sponsored">win a Grand Slam singles title</a> (I've now won <a href="https://olympics.nbcsports.com/2021/02/20/naomi-osaka-australian-open-jennifer-brady/" target="_blank" rel="nofollow noopener sponsored">four Grand Slams</a>), and the first tennis player to <a href="https://www.insider.com/naomi-osaka-lits-tokyo-olympics-cauldron-during-opening-ceremony-2021-7" target="_blank" rel="nofollow noopener sponsored">light the torch at the Olympic Games</a>.Those are notable firsts, but they never felt like enough. I didn't understand why until I realized I kept losing sight of the most important goal: putting myself first.The journey toward <a href="https://www.insider.com/naomi-osaka-felt-ungrateful-enjoying-life-as-a-tennis-star-2021-8" target="_blank" rel="nofollow noopener sponsored">prioritizing mental health is complicated</a>, and there is no definitive finish line. As many know, especially professional athletes, there are few conversations around what it means to put your <keyword id="11902572" type="UNKNOWN" weightage="60" keywordseo="mental-health" source="Orion">mental health</keyword> before winning and how challenging it can be. After all, the only "first" we ever strive for is first place.<div type="image" title="Naomi Osaka wears a green tennis outfit while holding a tennis racket and looking focused during a match." height="3332" width="5000" msid="92396260" hostid="261"></div>Fortunately, I'm surrounded by a network of people who have taught me a valuable lesson during this journey: Confidence and self-assurance are just as valuable as physical skills. Champions need to have a <a href="https://www.insider.com/naomi-osaka-twitter-note-celebrate-herself-stop-self-deprecating-mindset-2021-8" target="_blank" rel="nofollow noopener sponsored">healthy, productive mindset</a> — and that can be learned, just like we learn to serve or shoot in tennis.Tennis is an especially mental game. You're a team of one on the court, which means only you can get in your way. That's why I'm lucky to have family, friends, and people I admire that remind me to believe in myself whenever I'm unable to. These are all things that I continue to learn and share openly with others because advocating for mental well-being should be at the forefront of conversations about holistic <keyword id="11894571" type="UNKNOWN" weightage="60" keywordseo="health" source="Orion">health</keyword>.Being one of the first athletes to inspire <a href="https://www.insider.com/naomi-osaka-french-open-withdrawal-inspired-changes-to-press-expectations-2022-6" target="_blank" rel="nofollow noopener sponsored">widespread conversations about mental health</a>, especially as it relates to athletes of color, holds a special place in my heart. My mom is Japanese, and my dad is Haitian, so I identify with both communities. With so few role models in the tennis world that were Asian or Black, this left me with very few footsteps to follow.My upbringing propelled me to start my foundation <a href="https://www.laureus.com/news/play-academy-with-naomi-osaka-expands-to-los-angeles-and-haiti-to-empower-more-girls-through-play-and-sport" target="_blank" rel="nofollow noopener sponsored">Play Academy with Naomi Osaka</a>, which helps girls like me who may feel discouraged from playing <keyword id="11893855" type="UNKNOWN" weightage="100" keywordseo="sports" source="Orion">sports</keyword>. Young women from all cultural backgrounds deserve to enjoy the blessings and virtues that sports have to offer. I am hoping to show them what they can achieve on and off the court by using their voices to spark change and create business opportunities for themselves.<div type="image" title="Naomi Osaka participates in Play Academy program activities with a group of kids at First Break Academy Carson, California." height="2955" width="4332" msid="92396262" hostid="261"></div>Achieving greatness is less challenging if a path has already been forged for you. But for those who don't have an established, viable course, it's easier for self-doubt to fester: Why hasn't this been done before? Does a girl like me have the right to dream this big?It's a daunting mental psych-out, but I look to inspirations such as Billie Jean King and the Williams sisters to overcome it.I want to create a world in which young girls and female athletes have relatable role models and <a href="https://www.insider.com/naomi-osaka-discusses-olympic-games-mental-health-training-2021-6" target="_blank" rel="nofollow noopener sponsored">dreams that feel attainable</a>. If they're represented, they're more likely to feel confident. And it goes beyond seeing someone who looks like them succeed; It's about having equal access to all opportunities at the most basic levels.That is why, in addition to <a href="https://www.modernhealth.com/post/tennis-player-naomi-osaka-joins-modern-health" target="_blank" rel="nofollow noopener sponsored">partnering with Modern Health</a>, I recently launched my sports-management company, <a href="https://www.si.com/tennis/2022/05/11/naomi-osaka-starting-sports-agency-evolve-makes-history-report" target="_blank" rel="nofollow noopener sponsored">Evolve</a>, with my business partner Stuart Duguid. Being at the helm of my own agency will enable me to do things my way and provide accessible pathways to success for more people.I also <a href="https://www.instagram.com/p/CfE7IGmpUXE/?utm_source=ig_web_copy_link" target="_blank" rel="nofollow noopener sponsored">recently announced Hana Kuma</a>, a media company in partnership with LeBron James and Maverick Carter's <a href="https://www.springhillcompany.com/" target="_blank" rel="noopener">SpringHill Company</a> to tell more stories about people like me and to lift up global creators who have specific but universal stories to tell. Working alongside people I admire and trust to create companies that support and empower is something I am really proud of.Additionally, I created <a href="https://www.kinlo.com/" target="_blank" rel="nofollow noopener sponsored nofollow sponsored">Kinlò</a>, a sun-care line for people with melanated skin tones. There have been very few conversations around the importance of sun care for people with melanated skin tones, even though we are just as susceptible to skin cancer as those with fair skin tones. I created a brand to help remedy that plight because everyone should have access to products that were made for them — products that make them feel seen, worthy, and confident.All of this fuels me because I know I am helping someone else see the potential within themselves. Meanwhile, I'm realizing that many people struggle with self-valuation, and I was never actually alone in this feeling.Putting myself first has helped me learn to be confident, trust myself, and recognize that I know what is best for me. I created boundaries to disarm the things that were draining me and made room for the things that galvanized me.Being "the first" in many of my professional pursuits is an indescribable feeling, and it comes with many responsibilities. I have a duty to use my platform to help create a more progressive world for others, but I can't do any of that if I don't honor the most important thing: myself.

Naomi Osaka: I broke barriers, but I should have put myself first

<ul><li>Dream11 founder Harsh Jain shared his plight with finding investors in the first few years of his startup that is now a unicorn.</li><li>At the TiE Global Summit 2019, Jain said that the first 150 investors refused to invest in Dream11 but he learnt a lot from those rejections.</li><li>It raised $110 million from Tencent. It turned unicorn (startup with a valuation of over $1 billion) in November 2019 </li><li>Its popularity skyrocketed after IPL and ICC signed them as the official partner.</li></ul>In 2009, Harsh Jain and Bhavit Sheth were living a fantasy. Those were times when iPhones were just becoming popular and smartphones are not all-pervading like they are –right now. Even for those who owned such phones, 2G powered data did not come cheap. Yet, the Founders of Dream11 were trying to raise money for a fantasy cricket game shaped after EPL, after IPL was launched a year back. “We had 150 people say ‘No’ before we got to our first funding. Perseverance is what it takes. Every single no came with a why, it taught me something about our business and how to grow,” Jain said at the TiE Global Summit (TGS). In a session chaired by Business Insider at the Summit — an annual event which showcased India's vibrant startup ecosystem — Jain shared the journey of his startup that introduced '<keyword id="6370198" type="UNKNOWN" weightage="20" keywordseo="fantasy-gaming">fantasy gaming</keyword>' as a business to India. The Indus Entrepreneurs (TiE) is a global not-for-profit organisation founded in 1992 by a bunch of Silicon Valley entrepreneurs who had roots in the subcontinent. TiE helps startups with mentoring, networking, education, funding, and incubation. Dream11 founder Harsh Jain was a headliner at this year's edition of the TGS. The Dream journey Within nine years, Dream11 raised $110 million from Tencent. It turned unicorn (startup with a valuation of over $1 billion) in November 2019 after a secondary investment from Steadview Capital, an Asia-focused alternative asset manager. Its popularity skyrocketed first after IPL and ICC both signed them on as the official partner. It now has 75 million users on its platform and has a robust model to go with - as it earns 15-20% of a gamer’s winnings. Jain believes that there is a lot of potential ahead for fantasy gaming. “India is a large market to address where 700 million people expected to use sports online in India in the next few years,” he said. Other than providing a platform for gaming, Jain believes that their offering provides with something more--- a way to overcome tediousness. “Indians are bored that's why they keep looking at their phones. Suddenly because of Jio everyone has data and access, we need to engage them and provide entertainment. The reason why Dream11 is popular because we give that on something they love – sports,” he said. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/dream11-will-sell-sports-merchandise-and-game-tickets-on-fancode/articleshow/72066243.cms" data-type="tilCustomLink" target="_blank">Dream11-backed Fancode will sell sports merchandise and game tickets</a>

‘I heard 150 noes before first funding’- reveals one of India's newest unicorns Dream11

<ul class="summary-list"><li><keyword id="1893821" type="PERSON" weightage="60" keywordseo="Simone-Biles">Simone Biles</keyword> continues to push the bounds of <keyword id="8684" type="SPORT" weightage="60" keywordseo="gymnastics">gymnastics</keyword> - and physics - in her final year competing.</li><li>Despite Biles' unprecedented feats, her scoring potential in competition is restricted.</li><li>Gymnastics leaders blame limits on concerns for safety, but Biles suspects otherwise.</li></ul>Simone Biles has been dominating her competition for her entire career.And she could be crushing her opponents by even wider margins - if only the powers that be in international gymnastics would let her.<div type="image" title="simone biles" height="1547" width="2063" msid="83061174" hostid="261"></div>The four-time Olympic gold medalist made history at the US Classic this weekend when she landed a Yurchenko double pike vault. And even though the feat is <a href="https://www.insider.com/video-simone-biles-yurchenko-double-pike-vault-us-classic-2021-5">so challenging - and dangerous - that no woman had ever dared to try it in competition before her</a>, the authorities of elite gymnastics awarded Biles a score on par with many of her other, less difficult vaults."It doesn't seem to be consistent with what they've done with other vault values," United States women's national team coordinator Tom Forster said of the scoring evaluation, per <a href="https://www.nytimes.com/2021/05/24/sports/olympics/simone-biles-yurchenko-double-pike.html">The New York Times</a>. "I don't know why they do that."<h2>Despite Biles' unprecedented feats, her potential point totals in competition are significantly restricted</h2>Scoring in high-level gymnastics is markedly different than in most other <keyword id="6356028" type="UNKNOWN" weightage="100" keywordseo="sports">sports</keyword>. Rather than athletes earning points throughout a performance, the decision-makers at the International Gymnastics Federation (FIG) pre-assign scores to routines based on the difficulty of the skills involved. Then, judges evaluate execution in real-time, docking points from the potential total every time a gymnast makes a mistake during their program.<div type="image" title="simone biles" height="1666" width="2222" msid="83061177" hostid="261"></div>Because Biles regularly achieves physical feats other gymnasts can only dream of, the degree of difficulty associated with her routines - particularly on floor, balance beam, and vault - warrant some of the highest possible scores the FIG doles out. Biles enjoys a huge margin of error as a result; she can get away with faltering during a performance because her floor is higher than most of her opponents' ceilings.But that's the system that the FIG established. So as she's pulled off increasingly complex - and hazardous - skills, Biles expected her point values to increase accordingly. They haven't."They had an open-ended code of points," Biles said after the US Classic, per The Times. "And now they're mad that people are too far ahead and excelling."<div type="image" title="simone biles" height="1666" width="2222" msid="83061178" hostid="261"></div>This weekend's vault wasn't the first skill the 24-year-old felt was undervalued by the FIG. Ahead of the 2019 World Championships, Biles expressed how "pissed off" she was over the gymnastics governing body's "unfair" valuation of her eponymous balance beam dismount."Am I in a league of my own? Yes, but that doesn't mean you can't credit me for what I'm doing," <a href="https://olympics.nbcsports.com/2019/10/03/simone-biles-gymnastics-worlds/">Biles told NBC Sports</a> at the time. "They keep asking us to do more difficulty and to give more artistry, give more harder skills. So we do, and then they don't credit it, and I don't think that's fair."<h2>Gymnastics leadership blames restrictions on safety, but Biles suspects otherwise</h2>Biles suggested that the FIG has serially undervalued her skills because "they don't want the field to be too far apart," she told The Times. If the FIG keeps her provisional scores low, Biles' thinking goes, than other gymnasts may have a fighting chance.But there's another force at play, and it's one Biles acknowledged during the fight over her balance beam dismount two years ago. Rewarding harder, more perilous skills with significantly higher payouts incentivize athletes to take risks.<div type="image" title="simone biles double pike" height="2380" width="3174" msid="83061179" hostid="261"></div>For Biles, there's little downside to risky exploration; but she's arguably the most athletic person on the planet. For other elite gymnasts - many of whom are still teenagers - experimenting with dangerous skills can become lethal with just the smallest of missteps.And in response to Biles' critique of her balance beam dismount valuation in 2019, the FIG's leadership insisted that encouraging athletes to put themselves in harm's way would be irresponsible."There is added risk in landing of double saltos for beam dismounts (with/without twists), including a potential landing on the neck," the FIG statement read, per NBC Sports. "Reinforcing, there are many examples in the Code where decisions have been made to protect the gymnasts and preserve the direction of the discipline."<div type="image" title="simone biles" height="1352" width="1803" msid="83061180" hostid="261"></div><h2>Reward no longer dictates risk for Biles, who strives for new heights simply 'because I can'</h2>Without the incentive of a major point payout, one might suspect Biles would stop pushing the bounds of gymnastics - and physics - in her final year competing. Instead, she's once again upped the stakes heading into her <a href="https://www.insider.com/simone-biles-retiring-after-olympics-dreads-extra-usa-gymnastics-year-2020-7">swan song at this summer's Tokyo Olympics</a>.Her Yurchenko double pike vault at the US Classic was just the latest example; Biles pulled off the historic feat knowing full well that she wouldn't be compensated adequately.<div type="image" title="simone biles" height="1386" width="1849" msid="83061181" hostid="261"></div>"I feel like now we just have to get what we get because there's no point in putting up a fight because they're not going to reward it," she said after the event, per The Times. "So we just have to take it and be quiet."So why does Biles continue to aim so high? She offered some insight to Will Graves in his <a href="https://apnews.com/article/olympic-games-2020-tokyo-olympics-sports-e25adf4e85aee35db667e606ced7be5d">profile for the Associated Press</a>. "Now, it's just for myself."

Simone Biles is so dominant that scoring rules are holding her back for the safety of others, but she thinks the reason is more nefarious

<ul><li><keyword id="48485" type="ORGANIZATION" weightage="20" keywordseo="Bombay-high-court">Bombay High Court</keyword> has dismissed a PIL which claimed <keyword id="6214644" type="UNKNOWN" weightage="20" keywordseo="Dream11">Dream11</keyword> encourages gambling. </li><li>The High Court order has said that it is a game of skill, and not chance. </li><li>Earlier, the Punjab and Haryana High Court too had declared the Dream11 format of fantasy sports as legal.</li></ul>Indian gaming unicorn Dream11 has got another big boost – from Bombay High Court no less. The <a href="https://www.livelaw.in/news-updates/dream-11-bombay-hc-dismisses-pil-fantasy-league-145760">High Court</a> dismissed a PIL filed by an advocate and said that Dream11 is a game of skill and not of chance. The PIL had claimed that online fantasy league game encourages gambling. This comes after the Punjab and Haryana High Court too declared the Dream11 format of fantasy sports as legal. The order said that the game requires considerable skill and judgment. This order was further ratified by the Supreme Court. The Indian fantasy gaming industry is projected to be a ₹118.8 billion market by 2023. While cricket holds the majority of the market share, other games are picking up too. Dream11 has had a great run this year – from turning a unicorn with a billion Dollar valuation, in April 2019. Its users also swelled to 67 million after IPL in 2019, and was also the official partners for the league. With the ongoing World Cup, Dream11 aims to gain even more. “We expect to have 90 million users by the end of the World Cup and 100 million by the end of 2019,” Bhavit Sheth, COO, Dream11 had told Business Insider in an interview earlier. Sheth and Harsh Jain had co-founded the startup, 11 years ago. See Also: <a href="https://www.businessinsider.in/icc-cricket-world-cup-2019-dream11s-userbase-can-hit-90-million/articleshow/69580087.cms">As England vs South Africa game kicks off, the World Cup is fuelling Dream11's dream run in 2019</a> <a href="https://www.businessinsider.in/kapil-dev-becomes-brand-advisor-for-apne11/articleshow/69766260.cms">This 1983 cricket World Cup star just turned brand advisor for India’s latest fantasy gaming startup</a> <a href="https://www.businessinsider.in/mobile-premier-league-raises-series-a-funding-of-35-5-million-from-sequoia-india-times-internet-and-goventures/articleshow/69017909.cms">This 7-month old startup has $35.5 million funding from Sequoia and Virat Kohli as its brand ambassador</a>

Two Indian courts have now ruled that online fantasy leagues are legal and a game of skill

<ul class="summary-list"><li><keyword id="6130340" type="DEFINITION" weightage="60" keywordseo="Jake-Paul">Jake Paul</keyword>, a <keyword id="6355064" type="UNKNOWN" weightage="60" keywordseo="Celebrity">celebrity</keyword> that built his fame on <keyword id="10879" type="CITY" weightage="60" keywordseo="YouTube">YouTube</keyword>, is veering towards becoming a full-time professional fighter. </li><li>A career in combat <keyword id="6356028" type="UNKNOWN" weightage="60" keywordseo="sports">sports</keyword> is, ironically, one where he can do less damage. </li><li>Paul's chaotic years on YouTube have included allegations of abuse from his ex-girlfriend, accusations of exploiting children, and an FBI raid.</li><li>He may have found the perfect home in <keyword id="6362171" type="UNKNOWN" weightage="60" keywordseo="Boxing">boxing</keyword>, where such stunts are commonplace, and fans are older and are more adept at deciphering what's real and what's for show.</li></ul>YouTuber-turned-boxer Jake Paul complained <a href="https://www.youtube.com/watch?v=jC0BbeFd2zA&amp;ab_channel=JakePaulPaul" target="_blank" rel="noopener">in a viral hit</a> posted to his channel in August 2017 that the media had the wrong impression of him. He whined that despite his best efforts, the only stories people heard about him were negative - <a href="https://mashable.com/2017/07/18/jake-paul-neighbors/" target="_blank" rel="noopener">terrorizing his neighborhood</a>, and <a href="https://www.vanityfair.com/hollywood/2017/07/jake-paul-disney-bizaardvark-neighbors-controversy" target="_blank" rel="noopener">parting ways with his television show</a> on the Disney Channel after his problematic antics, for example. As such, Paul has cultivated what is widely recognized as a negative reputation among <keyword id="1112328" type="PERSON" weightage="60" keywordseo="Influencers">influencers</keyword>.But being vilified in the media may be exactly what Paul needs to succeed in his new career path as a boxer, an arena where Paul's found an easy home. <keyword id="37125" type="PERSON" weightage="60" keywordseo="controversy">Controversy</keyword> is ubiquitous in combat sports, and Paul may be a perfect reflection of its characters for the social media age. He's already challenged Conor McGregor to <a href="https://www.insider.com/watch-jake-paul-drop-sweary-50-million-conor-mcgregor-offer-2020-12">meet him in the ring for $50 million</a> and won a match against NBA player Nate Robinson on November 28 with a shocking knock-out.While Paul is quite literally causing physical damage in the ring, his boxing career will surely do less damage than his career as an influencer catering to children.<h2>Paul is no stranger to being divisive</h2>Paul started his internet career as a young teenager from Ohio making 7-second videos on Vine in 2013. He and his <a href="https://www.businessinsider.com/who-is-logan-paul-2018-2" target="_blank" rel="noopener">older brother Logan Paul</a> quickly became two of the platform's biggest stars, before <a href="https://www.businessinsider.com/twitter-shutting-vine-down-2016-10" target="_blank" rel="noopener">the app was discontinued in 2016</a> and they <a href="https://www.vox.com/2016/10/29/13462916/vine-stars-shut-down-youtube-instagram" target="_blank" rel="noopener">migrated to YouTube</a>.But over the next few years, Paul's persona evolved from family-friendly pranks and skits to the classic trope of the kid who grew up in the spotlight. Fame and money appeared to go to his head, and he started causing problems in his LA neighbourhood, turning it into <a href="https://www.mic.com/articles/182398/social-media-star-jake-paul-accused-of-turning-la-neighborhood-into-a-living-hell-and-war-zone" target="_blank" rel="noopener">"a living hell" and a "war zone,"</a> according to residents, thanks to the partying of his notorious entourage Team 10.<div type="image" title="Jake Paul its everyday bro" height="1080" width="1440" msid="80144271" hostid="261"></div>Driving obnoxiously loud motorcycles up and down his road and <a href="https://www.yahoo.com/lifestyle/youtuber-lit-mattress-fire-empty-202628471.html" target="_blank" rel="noopener">setting mattresses on fire</a> in his back yard earned Paul mainstream disrepute, but legendary status on the internet. The follower count kept climbing, giving Paul no reason to rein in his behavior. Since then he's built <a href="https://www.youtube.com/channel/UCcgVECVN4OKV6DH1jLkqmcA" target="_blank" rel="noopener">a fanbase of over 20 million subscribers</a>.Commentary YouTuber Fraser Macdonald, who posts videos <a href="https://www.youtube.com/channel/UCLuqzTYgef441A0VYecDHxA" target="_blank" rel="noopener">on his channel iNabber</a> where he has 650,000 subscribers, told Insider Paul's decision to lean into his controversial behavior is "a numbers game.""I know a lot of people have thrown around the phrase 'sociopath' when it comes to Jake Paul, but in reality it's all a massive game for him where he is trying to portray himself as a villain to get numbers," he said. "The more controversies, the more views, the more money and overall the more relevance."<h2>Jake Paul has been labeled 'every parent's worst nightmare'</h2>Paul aptly named his fans "The Jake Paulers," <a href="https://www.businessinsider.com/jake-paul-fans-meet-the-teens-and-parents-who-love-the-youtube-star-2017-7" target="_blank" rel="noopener">guiding a generation of kids</a> who <a href="https://mediakix.com/blog/percent-children-becoming-a-youtuber/" target="_blank" rel="noopener">grew up dreaming of being YouTubers</a> to be just like him - loud, cocky, and obstreperous. But that may be a worry to parents with children with aspirations to be like their favorite online nuisance. Paul's past is littered with contentious events, just one of which might tarnish the entire career of someone less privileged.In 2017, Paul was accused of emotional abuse <a href="https://t.co/NaFanbALDz?amp=1" target="_blank" rel="noopener">by his ex-girlfriend Alissa Violet</a>, a fellow YouTuber, who said he had also once dragged her down a flight of stairs and <a href="https://www.youtube.com/watch?v=UXLb8_tGrdM" target="_blank" rel="noopener">smashed her iPhone</a>. Paul has had three other high-profile and <a href="https://www.insider.com/timeline-of-jake-paul-and-tana-mongeaus-relationship-2019-6">controversy-laden relationships</a> since then, most recently with <a href="https://www.news.com.au/sport/sports-life/inside-the-life-of-instagram-model-and-world-series-flasher-julia-rose/news-story/60c891d26abe337696f65423a91aa52f" target="_blank" rel="noopener">World Series flasher</a> and founder of digital glamour magazine Shagmag, Julia Rose.In parading the women that hang around him, Paul has been repeatedly accused by critics of <a href="https://www.polygon.com/2018/1/5/16853894/jake-paul-logan-paul-thumbnail-rap" target="_blank" rel="noopener">making sexually explicit content</a> that is inappropriate for his target audience, which at the height of his YouTube relevancy was, in his own words, <a href="https://www.youtube.com/watch?v=Ck7PwjNEIpY&amp;ab_channel=ABCNewsNews" target="_blank" rel="noopener">between 8 and 16 years old</a>.Paul has also been accused of <a href="https://www.theverge.com/2018/9/4/17818194/jake-paul-youtube-marketing-tactics-illegal-regulation" target="_blank" rel="noopener">"predatory" money-making schemes.</a> He aggressively peddles merch to this young fanbase and <a href="https://www.insider.com/mysterybrand-mystery-box-jake-paul-critics-scam-2019-1" target="_blank" rel="noopener">advertises "mystery boxes,"</a> which have been criticized as being akin to gambling. <a href="https://t.co/bTLUwmVcJs?amp=1">YouTubers Nerd City</a>, who do deep-dive analyses of creators' behavior, labeled him a "parent's worst nightmare" when a review of his channel showed 50% of his video-time was spent trying to get his viewers to buy stuff. His intentions were summed up well with the release of <a href="https://www.youtube.com/watch?v=LvYbhJ6pryA" target="_blank" rel="noopener">a Christmas song in December 2017</a> where he sang the line "buy that merch" over and over again.Paul later launched Edfluence in 2018 - a website where fans could apparently learn to become social media influencers. Online commentators such as <a href="https://www.youtube.com/watch?v=lz7UgBP-m7w" target="_blank" rel="noopener">YouTuber Drew Gooden criticized</a> the videos as lazy and unscripted, and noted that after a $7 entry fee was paid, children could unlock more levels with their parents' credit card, racking up increasing costs without needing further permission.The Edfluence website quietly disappeared without any explanation less than a year later, but not before <a href="https://twitter.com/Edfluencers/status/1067178997845381120" target="_blank" rel="noopener">promoting a 50% offer</a> on its Twitter page to get in a few last sales. Paul launched another, almost identical venture, called <a href="https://www.insider.com/jake-paul-launch-financial-freedom-movement-aimed-at-young-people-2020-2" target="_blank" rel="noopener">the Financial Freedom Movement</a> in February 2020, which he has barely mentioned since.While adults can assess risks and make educated choices, young viewers "have a reduced ability to exert self-control and more difficulties in understanding valuation and probabilities," states <a href="https://www.europarl.europa.eu/RegData/etudes/STUD/2020/652727/IPOL_STU(2020)652727_EN.pdf" target="_blank" rel="noopener">a study on "loot boxes" published by the European Parliament in August 2020</a>. Thus they are less likely to consider the consequences of following an influencer's lead - spending all their pocket-money on online games, schemes, and clothing under the illusion it will make them as rich and popular as the stars they idolize.Throughout the remainder of 2020, Paul's attention has been focused elsewhere. He was one of the many <a href="https://www.insider.com/why-some-influencers-cant-stop-pandemic-partying-even-after-backlash-2020-12" target="_blank" rel="noopener">LA influencers that ignored COVID-19 guidelines</a>, being spotted in crowds of looters at an Arizona mall in May and getting tear-gassed (after which he was <a href="https://www.nytimes.com/2020/06/04/style/jake-paul-charged-protests.html" target="_blank" rel="noopener">charged with criminal trespassing</a>), and <a href="https://www.insider.com/jake-paul-party-video-calabasas-mayor-covid-19-bryce-hall-2020-7" target="_blank" rel="noopener">hosting a massive rager</a> at his mansion in July where he invited hundreds on unmasked guests to get drunk and swing from heavy machinery.His house was also <a href="https://www.insider.com/jake-paul-fbi-investigation-raid-looting-accusations-armani-izadi-andrew-2020-8" target="_blank" rel="noopener">raided by an FBI swat team</a> in August.Macdonald said Paul's controversies are "the only thing keeping him relevant" online."No one cares about Jake Paul's videos," he said. "They simply care about the dangerous things Jake Paul is doing."<h2>Jake Paul is a maverick hero to children</h2>To a young, developing mind, Paul is a rebel. He doesn't stick to the rules, earning him a maverick reputation. As much as Paul may attempt to excuse his behavior as being a joke or playing a character, there's no doubt children growing up with him as their hero will be more prone to thinking causing disrespectful chaos could be a way to achieve money and fame.As Chris Stokel-Walker discussed in a paper titled "The dark psychology behind YouTube's success," <a href="https://www.sciencedirect.com/science/article/abs/pii/S0262407919307419?via%3Dihub" target="_blank" rel="noopener">published in New Scientist</a>, viewers can become addicted to the increasingly bad behavior of the YouTubers they admire. As the influencer pushes boundaries to chase relevancy, their behavior on-screen gets more and more extreme, and young viewers <a href="https://www.rawhide.org/blog/infographics/does-media-exposure-create-desensitization/" target="_blank" rel="noopener">may become desensitized</a> and more likely to repeat what they see - just without the funds and safeguards available to famous YouTubers.<h2>Controversy is commonplace is boxing</h2>When it comes to boxing, however, you're dealing with an older fanbase.<a href="https://www.magnaglobal.com/wp-content/uploads/2017/06/MAGNA-SBJ.pdf" target="_blank" rel="noopener">A study for Sports Business Journal by Magna Global</a>, for example, found that the median age for viewers watching boxing on television was 49 in 2016, with only 10% of the audience being under 17 years old. <a href="https://medium.com/@bob_6051/inside-the-numbers-mma-and-boxing-fans-cfef9e96522a" target="_blank" rel="noopener">Data from World's Greatest</a>, a video platform by and for athletes, found the majority (41%) of boxing and MMA fans are 25-34 years old, while 6% are 13-17."I think Jake is definitely trying to get a more mature audience nowadays, but I don't really think it'll work," said Macdonald, who isn't convinced Paul will win over loyal devotees of combat sports. "Most boxing fans seem to laugh at YouTubers getting into boxing, and most boxing fans probably think Jake Paul is a moron."However, there's no question YouTubers are bringing in a new audience. <a href="https://www.insidersport.com/2019/11/08/how-boxing-is-engaging-new-demographics-with-ksi-vs-logan-paul/" target="_blank" rel="noopener">According to data obtained by Insider Sports</a>, 52% of the people who watched Logan Paul vs KSI were under 24, while that age bracket only made up 9% of a match around the same time between Deontay Wilder and Tyson Fury.<div type="image" title="Logan Paul (red/white/blue shorts) and KSI (black/red shorts) exchange punches their pro debut cruiserweight fight at Staples Center on November 9, 2019 in Los Angeles, California. KSI won by decision." height="2584" width="3446" msid="80144272" hostid="261"></div>Combat sports audiences thrive on major controversies. It's where Mike Tyson made his debut shortly after coming out of a juvenile detention center, went to prison for three years, then returned to bite of the ear of contender Evander Holyfield during a match. It's also where Floyd Mayweather Jr., who has been sent to prison and put on house arrest several times, egregiously flaunts his wealth. Conor McGregor, who Paul is eager to fight, has been accused of numerous wrongdoings, including sexual assault.Paul's hijinks, in comparison, seem tame - <a href="https://twitter.com/jakepaul/status/1338928886218772481" target="_blank" rel="noopener">throwing wet toilet paper and water balloons</a> at Dillon Danis, and <a href="https://twitter.com/jakepaul/status/1341823429045993472" target="_blank" rel="noopener">feuding with Dana White on Twitter</a>, for example. He seems to be stuck in-between wanting to keep his young fanbase with childish pranks they'll enjoy, while also trying to make a name for himself in a grown-up world where the people he comes up against are a lot more intimidating. <a href="https://twitter.com/NateDiaz209/status/1338669298038919169" target="_blank" rel="noopener">Nate Diaz recently warned</a> he was going to end up getting his "a-- whooped for real."<h2>Saying goodbye to the 'problem child era'</h2>In some ways, Paul does seem to be taking his new career path seriously. He trains hard, and has just announced <a href="https://www.insider.com/jake-paul-selling-team-10-mansion-2020-12" target="_blank" rel="noopener">he's selling his Calabasas mansion</a> and is leaving LA altogether.If this all means making fewer YouTube videos, it may have parents everywhere breathing a sigh of relief. Paul's fanbase will likely evolve and grow into one that understands that while controversy makes good television, it's not something you have to copy to be successful.Boxing, where publicity stunts are commonplace, and fans are less impressionable, may be the perfect place for someone like Paul to end up.But if he wants to be respected there, he might have to stop trying to cater to both audiences and grow up, rather than playing the victim when he's called out for being a bad influence. Otherwise, Paul may find his new burgeoning audience will never take him seriously.<ul class="read-more-links"><li>Read more:</li><li><a href="https://www.insider.com/why-some-influencers-cant-stop-pandemic-partying-even-after-backlash-2020-12" target="_blank" rel="noopener">Why some influencers can't stop partying during the pandemic, even after condemnation and backlash</a></li><li><a href="https://www.insider.com/whats-will-happen-to-influencer-houses-during-coronavirus-2020-3" target="_blank" rel="noopener">Stars living in influencer houses may be risking their health, but their content is in higher demand than ever</a></li><li><a href="https://www.insider.com/how-shane-dawson-went-from-king-of-youtube-to-canceled-2020-7" target="_blank" rel="noopener">How Shane Dawson went from 'King of YouTube' to the biggest fall from grace the platform has ever seen</a></li><li><a href="https://www.insider.com/tana-mongeau-racist-tweets-allegations-response-to-her-past-2020-7" target="_blank" rel="noopener">Tana Mongeau may finally have to face her problematic past after former friends accused her of racist microaggressions and gaslighting</a></li><li><a href="https://www.insider.com/jake-paul-selling-team-10-mansion-2020-12" target="_blank" rel="noopener">Jake Paul is selling his Team 10 mansion, saying goodbye to the 'problem child era'</a></li></ul>

Jake Paul's fighting career makes a lot of sense and could be less harmful than his work as an influencer

<ul><li><keyword id="6214644" type="UNKNOWN" weightage="20" keywordseo="Dream11">Dream11</keyword> founders tell Business Insider that they expect a huge spike in users this year </li><li>Two big sporting events-- the IPL and the cricket world cup-- in 2019 may drive boost user interest in the country’s biggest fantasy gaming site. </li><li>The business prospects got a big fillip after the country’s cricket regulator, BCCI, declared Dream11 as the official partner for the upcoming cricket league. </li><li>Reports suggest Steadview Capital may invest another $100 million in the company this year to make it India’s first gaming unicorn. </li></ul>Bhavit Sheth and Harsh Jain used to spend a lot of their time playing fantasy games for the English Premier League. And when the Indian Premier League began in 2008, the two 22-year olds realised that it was time to turn their obsession into a business – and the fantasy gaming site Dream11 was born. Today, 11 years later, the Board of Control for Cricket in India has declared Dream11 as the official partner for fantasy games during the upcoming season of the IPL, and arguably the country’s biggest sports icon right now, Mahendra Singh Dhoni, is their brand ambassador. Now, the founders are gunning for the coveted tag of a unicorn – a company that is worth at least a billion dollars. With the IPL and the cricket World Cup lined-up over the next three months, 2018 may be a big year for Dream11. “We expect to have 90 million users by the end of the World Cup and 100 million by the end of 2019.” Sheth told Business Insider. The Indian fantasy gaming industry is projected to be a ₹118.8 billion market by 2023. While cricket holds the majority of the market share, other games too are picking up. At Dream11, 85% of their users play fantasy cricket while other sports like Kabaddi, basketball and hockey are picking up. The startup last raised $100 million in a Series D round at a valuation of a reported $750 million. Its investors include Tencent, Kalaari Capital and private equity firm Multiples Alternate Asset Management. In <a href="https://www.vccircle.com/steadview-capital-may-make-dream11-india-s-first-gaming-unicorn/">March 2019</a>, there have been reports about Steadview Capital looking at infusing $100 million into the startup taking its valuation to over $1.3 billion and making it India’s first gaming unicorn. Dream11 has 52 million users who compete with each other on the site. The users assemble players from different teams to create a virtual line-up of their own, alongside an actual match. Based on the performance of their chosen players on the field, the virtual gamers are ranked on the virtual leaderboards. “We started off as a free-to-play site, trying to get revenue through ads. Three years into the business, we saw that with a niche product like ours which doesn’t have millions of page views, ads were just hampering the user experience on our app,” said Sheth. So, they changed the format. They allowed users to select their players not for the entire season at one go but only for daily matches. But they still hadn’t solved the question - how do they make money? That’s when they came up with the idea to ask users to pay and then they would pool in the money and award the winner. “But we weren’t sure if it was legally allowed in India. After consulting with many lawyers and one-and-a-half years of research, we knew that since this was a game of skill, there were no legal issues,” said Sheth. The Punjab and Haryana high court declared the Dream11 format of fantasy sports as legal and one that requires considerable skill and judgment. This judgement was further ratified by the Supreme Court When in 2014, Dream11 raised its first round of funding they still had just 300,000 users. But thanks to the popularity of IPL, today they stand at 52 million users. In fact, after signing former Indian cricket team captain MS Dhoni as their brand ambassador, just during the 2018 IPL their user base went from 20 million to 40 million. Their initial 10 million users were dominated by Tier 1 cities but now 50% of their traffic comes from Tier 2,3 and 4 cities. “As 22-year-olds we started this business, engineers who didn't know anything about business. We didn't even in our wildest imagination think that we will have over 52 million users in such short time, with only a team of over 200 managing them and be at this scale,” said Sheth. See Also: <a href="https://www.businessinsider.in/gaming-startup-dream11-strikes-gold-as-the-official-partner-of-ipl/articleshow/68426121.cms">Gaming startup Dream11 strikes gold as the official partner of IPL</a> <a href="https://www.businessinsider.in/mobile-premier-league-signs-virat-kohli-as-brand-ambassador/articleshow/68266803.cms">It’s Virat Kohli Vs MS Dhoni in the Indian e-gaming space</a>

2019 may be the biggest year for this 11-year old Indian gaming startup

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">GettyDallas Mavericks owner Mark Cuban.</div></div></div>FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors.<a href="http://wealthmanagement.com/alternative-investments/practical-guide-professional-sports-investments-0">Investing in a sports franchise</a> (Wealth Management)Sports fans dream of owning their own team, but very few can do so. Not only does demand outpace supply, but sky-high valuations make sports teams unaffordable for almost everyone. John Goldman, a partner at Herrick, Feinstein LLP, told Wealth Management, ownership is "partly objective and partly subjective." While you can predict cash flow, you cannot predict how the team will perform. Most likely you will become part of an ownership group, and your investment's performance will be determined by the performance of a general partner. Additionally, Goldman believes it's important each owner knows their own responsibilities and that friction is avoided within the management group. As for what league to invest in, Goldman says teams in the NFL, MLB and NBA are too expensive for most investors and that the MLS and NHL are more affordable. <a href="http://www.businessinsider.com/dow-chemical-and-dupont-are-in-merger-talks-2015-12">Dow Chemical and DuPont are discussing a merger</a> (Reuters)A combination of the two chemical giants would create a $120 billion behemoth. The combined company would then possibly split up into material sciences, specialty products, and agrochemicals businesses, according to people Reuters spoke with about the merger talks. A combination could produce as much as $3 billion in synergies, according to CNBC.<a href="http://www.bloomberg.com/news/articles/2015-12-08/bill-gross-s-investors-pulled-74-million-from-fund-in-november">Investors are pulling their money from Bill Gross</a> (Bloomberg)Investors pulled $74 million from Bill Gross' Janus Global Unconstrained Bond Fund in November. Bloomberg reports the withdrawals dropped the fund's assets under management to $1.32 billion from $1.39 billion and come at a time when the fund is down 1.4% for 2015. So far this year, Gross has outperformed just 54% of his peers.<a href="https://www.nerdwallet.com/blog/credit-card-data/average-credit-card-debt-household/">It'll take a long time for Americans to pay down their credit card debt</a> (NerdWallet)NerdWallet's 2015 American Household Credit Card Debt Statistics Study found Americans hold an average of $15,355 in credit card debt. NerdWallet says someone making the minimum payment each month will take 44 years to pay down their debt. Each year, the average household pays $6,274 in interest alone, which amounts to 9% of the average household income ($72,641).<a href="http://www.creditcards.com/credit-card-news/poll-debt-forever.php">More than one in five Americans say they will be in debt until they die</a> (CreditCards.com)A survey from CreditCards.com found 21% of Americans believe they will never pay off their debts. That number is up from 18% in 2014 and 9% in 2013. The average American thinks they will become debt-free at the age of 54. Interestingly, the survey also found the number of Americans living debt-free climbed to 21%, up from 14% last year. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/hair-surgeon-explains-donald-trumps-hair-2015-12">A hair surgeon explains what's going on with Trump's hair</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="N4M2pleTqshFojtAM7PDyhnn3kvHa-h-" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

There are a few things to consider before investing in a sports team

<keyword id="19895142" type="General" weightage="100" keywordseo="Shah-Rukh-Khan" source="keywords">Shah Rukh Khan</keyword>, widely known as the "King of <keyword id="19897820" type="General" weightage="20" keywordseo="Bollywood" source="keywords">Bollywood</keyword>," has officially joined the ranks of India’s wealthiest, debuting on the 2024 <keyword id="21075617" type="General" weightage="20" keywordseo="Hurun-India-Rich-List" source="keywords">Hurun India Rich List</keyword> with an impressive wealth of Rs 7,300 crores. But how did a Delhi boy with dreams of making it big in Mumbai become one of India’s richest individuals? Let’s dive into the ventures that propelled King Khan into the billionaires' club. <h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;"><keyword id="20033371" type="General" weightage="20" keywordseo="Red-Chillies-Entertainment" source="keywords" meta.keywordsubtype="org" meta.entityname="Red Chillies Entertainment" meta.hostid="261" meta.entityid="Red Chillies Entertainment">Red Chillies Entertainment</keyword></h3>Shah Rukh Khan’s production company, Red Chillies Entertainment, has been a significant contributor to his wealth. Founded in 2002, Red Chillies has become a key player in Bollywood, producing blockbuster films and investing in high-quality visual effects. From chart-topping films like Chennai Express and Raees to the massive success of Pathaan in 2023, Red Chillies has consistently delivered box office hits. <div type="Article" hostid="261" msid="112412196" title="&amp;#39;Deadpool &amp;amp; Wolverine&amp;#39; screenwriters reveal secrets and spoilers, including the movie&amp;#39;s original villain and who wrote that Hugh Jackman divorce joke" mstype="2" mssubtype="0"></div>With an estimated revenue consistently in the hundreds of crores and a profit of Rs 85 crores last year, the company has not only cemented SRK’s position as a top actor but also as a successful producer. Furthermore, the company’s VFX division, Red Chillies VFX, has set new benchmarks in the <keyword id="20161413" type="General" weightage="20" keywordseo="Indian-film-industry" source="keywords">Indian film industry</keyword>, working on major projects that have earned critical and commercial acclaim, such as Ra.One, Fan, and Laal Singh Chaddha. These ventures have significantly bolstered SRK’s wealth, making Red Chillies Entertainment a cornerstone of his business empire. <h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;"><keyword id="19899758" type="General" weightage="20" keywordseo="Kolkata-Knight-Riders" source="keywords" meta.keywordsubtype="org" meta.entityname="Kolkata Knight Riders" meta.hostid="261" meta.entityid="Kolkata Knight Riders">Kolkata Knight Riders</keyword></h3>Shah Rukh Khan’s entry into the sports business with the IPL franchise Kolkata Knight Riders (KKR) has been a masterstroke. Co-owned by SRK, Juhi Chawla, and Jay Mehta, KKR has become one of the most successful and profitable franchises not just in the Indian Premier League, but also in the sporting world. The team’s consistent performance on the field has been matched by its financial success off it, with KKR’s brand value rising steadily over the years. As per Forbes, the cricket team was valued at over $1 billion in 2022. This surge in valuation played a crucial role in boosting SRK’s wealth, contributing significantly to his fortune. The success of KKR, coupled with its passionate fan base and strong marketing, has made it a jewel in SRK’s business portfolio, further solidifying his status as a businessman. <h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;">Brand SRK: The most followed Indian on social media</h3>More than just a business mogul, Shah Rukh Khan is also a brand unto himself. With 44.1 million followers on Twitter, SRK is the most followed individual from the 2024 Hurun India Rich List on Indian social media. His massive <keyword id="20462299" type="General" weightage="20" keywordseo="social-media-presence" source="keywords">social media presence</keyword> has translated into lucrative endorsement deals and collaborations with global brands. <div type="Article" hostid="261" msid="112249289" title="One of Singapore&amp;#39;s flashiest CEOs was planning to throw a Tomorrowland-style party for the books. Then the mirage started to fall apart." mstype="2" mssubtype="0"></div>Consistently being one of the most visible endorsers, SRK earns substantially from <keyword id="20004407" type="General" weightage="20" keywordseo="brand-endorsements" source="keywords">brand endorsements</keyword>, with an estimated fee of Rs 4-5 crores per endorsement. His portfolio includes major brands like Hyundai, Dubai Tourism, and BYJU'S, further adding to his immense wealth. His ability to leverage his celebrity status into profitable business ventures has undoubtedly been a key factor in his <keyword id="21015152" type="General" weightage="20" keywordseo="wealth-accumulation" source="keywords">wealth accumulation</keyword>. <h3 style="line-height:1.2;margin-top:14pt;margin-bottom:4pt;">Real estate</h3>Real estate has always been a key component of wealth building, and Shah Rukh Khan is no exception. Shah Rukh Khan’s <keyword id="22962036" type="General" weightage="20" keywordseo="real-estate-ventures" source="keywords">real estate ventures</keyword> extend far beyond his iconic Mumbai residence, Mannat. One of his lesser-known yet highly lucrative ventures is in Dubai, where he and his wife Gauri Khan launched a luxurious beachfront residential project, the "SRK Boulevard," located in the posh Dana Islands. This mega project, worth over Rs 18,000 crore, features 10 residential buildings with high-end facilities, including marine sports and leisure amenities. Designed by Los Angeles architect Tony Ashai, with interiors by Gauri Khan, this project highlights SRK’s foray into international real estate <h3>And of course, films</h3>Shah Rukh Khan’s earnings from films and endorsements are a significant part of his wealth. Known as one of the highest-paid actors in India, SRK reportedly charges over Rs 100 crores per film. This is certainly no small amount, but it is unlikely that filmmakers will find fault with it, considering how his films regularly break box office records. As per IMdB, both 2023 films Jawan and Pathaan grossed over Rs 1000 crores worldwide. All in all, King Khan’s entry into the Hurun India Rich List is significant not just for him, but for the entire entertainment industry. SRK’s success reflects the growing financial clout of Indian film stars and the increasing importance of entertainment in wealth creation. In 2024 alone, Hurun India Rich Listers from the entertainment industry added Rs 40,500 crores to their wealth, with SRK leading the charge. This trend highlights the expanding influence of Bollywood and the entertainment sector in India’s broader economic landscape.

Baadshah of Bollywood Shah Rukh Khan debuts on India's richest list with Rs 7,300 cr — here's how the King made his wealth

<ul class="summary-list"><li>Apple is a master at turning technical computing devices into luxury status symbols.</li><li>Mixed-reality headsets are the company's biggest challenge yet. </li></ul>This is the reality for <a href="https://www.businessinsider.com/apple-vision-pro-mixed-reality-headset-specs-cost-release-date-2023-6">Apple's Vision Pro mixed-reality headset</a>: It's another pair of nerd goggles that will make most people look decidedly uncool.Apple is usually a master at turning technical gadgetry into desirable status symbols. For now, the Vision Pro has failed to do pull this off.Scott Galloway doesn't always make the best calls on the future of technology, but the NYU marketing professor hit the nail on the head when describing the magic of Apple products back in 2017."The No. 1 signal of wealth, the No. 1 signal of power and the No. 1 signal of your likelihood of a random sexual encounter and a greater selection set among potential mates is the iPhone," <a href="https://www.vox.com/2017/9/14/16303784/transcript-author-nyu-professor-scott-galloway-recode-decode-four-book-google-amazon-facebook-apple">he said</a>. "An iPhone is saying to the opposite sex or to a potential mate, 'I have good genes. You should mate with me.'"Owning a fancy iPhone signals success, wealth, and tech savvy.A green text from someone from an Android phone, on the other hand, can elicit judgment, as Android devices are generally cheaper. The response may not be honorable, but it's often the case. It's a big part of what <a href="https://www.businessinsider.com/apple-headset-hype-below-iphone-low-sales-expected-2023-6">made the iPhone</a> the most profitable computing device in history and helped Apple's market valuation skyrocket to $2.8 trillion.A similar thing happens when a person walks by at the airport holding a MacBook, wearing AirPods Max headphones, and sporting a high-end Apple Watch. This person is pretty cool.Now, imagine that same person wearing the Pro Vision headset at the airport. They are going to look either silly or disconnected from reality. At best, wearing this device on your face will suggest that you love video games and Apple devices intensely — so intensely that you may not have much love left for other humans. There's a market for that, but it's a lot smaller than the one created by the iPhone. It's noteworthy that many of the Vision Pro images Apple shared on Monday were of women — rather than geeky male gamers — wearing the device. One photo shows a woman on a phone with the gadget set back on her head -- so you can see her whole face.<div type="image" title="Woman seated in an airplane with Apple's Vision Pro on her head, like glasses." height="1102" width="1469" msid="100776227" hostid="261"></div>I put all this to a close friend who lives, and dates, in New York City. We talk sometimes about technology, Apple, and related topics. She's one of those people who can't help herself from reacting negatively to green iMessage bubbles, so she's an Apple fan usually. Would she be impressed by a guy wearing a $3,499 Apple Pro Vision headset? "Definitely not," she replied. "Won't work."Why?"Nothing that makes you look worse will work on your face," she said. Of course, other Apple devices have stumbled out of the gate, only to go on to major success and prove doubters wrong. AirPods and the <a href="https://www.businessinsider.com/history-of-apple-watch-smartwatch-fitbit-wearable-fitness-facebook-2021-6">Apple Watch</a> come to mind. And this is only the first iteration of Apple's headset. The ultimate goal is probably to pack all the prowess of the Vision Pro into a cool slim pair of glasses. Many people look cool in glasses, including Scott Galloway and my friend who lives in New York.If any tech company can create glasses with these capabilities, it will be Apple. However, Mark Gurman, the top Apple reporter, <a href="https://www.bloomberg.com/news/articles/2023-01-18/apple-postpones-ar-glasses-plans-cheaper-mixed-reality-headset" target="_blank" rel="noopener">recently wrote</a> that Apple's AI glasses were postponed indefinitely due to "technical challenges.""Apple's initial dream of offering a lightweight pair of AR glasses that people could wear all day now appears many years away — if it happens at all," he wrote in January. So, it's nerd goggles for now.

Apple's Vision Pro has a familiar fatal flaw: They are nerd goggles that will make most people look uncool

<ul class="summary-list"><li>Jaime Rogozinski, the founder of Reddit's WallStreetBets forum, is suing the social media platform.</li><li>He wants $1 million in damages, per Reuters, after being banned as moderator of the birthplace of the meme-stock craze.</li></ul>The founder of <a href="https://www.insider.com/wallstreetbets-reddit-history-gme-gamestop-stock-dow-futures-yolo-2021-1">WallStreetBets</a> is suing Reddit for ousting him as moderator of the forum, the birthplace of the meme stock craze.Jaime Rogozinski alleges that Reddit wrongfully terminated him in April 2020, according to a <a href="https://www.dropbox.com/s/qga0rufubz7gyen/Dkt_0001%20Complaint%20Rogozinski%20v%20Reddit%20%282-15-23%29.pdf?dl=0">complaint</a> filed in federal court in Oakland, California on Wednesday.Rogozinski is seeking $1 million worth of damages for breach of contract and violation of his publicity rights, per <a href="https://www.reuters.com/legal/founder-wallstreetbets-which-helped-ignite-meme-stock-frenzy-sues-reddit-2023-02-16/">Reuters</a> – and his lawyers used a quote from the 1989 Kevin Costner film "Field of Dreams" to sum up his allegations."'If you build it, they will come,' entrepreneurs tell themselves," they said in the complaint."Reddit's dreams, however, turned out to be Mr. Rogozinski's nightmare as the company insists, 'if you build it, we will take it from you'"."While other social media platforms endeavor to compensate their content creators, Reddit works to capture, take credit for, and monetize other people's creations."WallStreetBets skyrocketed in popularity in 2021 as retail investors used the subreddit to identify and then pump so-called <a href="https://markets.businessinsider.com/news/stocks/what-is-a-meme-stock-reddit-wallstreetbets-gamestop-amc-2021-6-1030515649">meme stocks</a>.Forum chatter produced huge swings in the share prices of companies like <a href="https://www.businessinsider.com/why-gamestop-stock-reddit-wallstreetbets-2021-1" rel="">GameStop</a> and <a href="https://markets.businessinsider.com/news/stocks/amc-entertainment-stock-price-avoids-bankruptcy-1-billion-cash-infusion-2021-1-1030000034" rel="">AMC</a>, with GameStop surging nearly 1,000% during a two-week period in January 2021.Rogozinski says he was ousted by Reddit after writing a book titled <a href="https://affiliate.insider.com?amazonTrackingID=biauto-61757-20&amp;postID=63edb45e507e5b7c9223a862&amp;site=bi&amp;u=https%3A%2F%2Fwww.amazon.com%2FWallStreetBets-Boomers-Worlds-Biggest-Millennials%2Fdp%2FB084DFNN2F" target="_blank" rel="noopener">"WallStreetBets: How Boomers Made the World's Biggest Casino for Millennials"</a> in January 2020 and applying to trademark the forum's name two months later. He also launched an e-sports trading competition with the aim of raising brand awareness, he said.In the suit, Rogozinski accused Reddit of undermining his trademark rights.The platform removed him from his position as a moderator of WallStreetBets in March 2020 on the basis that he had violated company policy by "attempting to monetize a community".But Rogozinski — who founded WallStreetBets in 2012 — said in his complaint that its justification was a pretext. He claimed his true offense was "trying to control the brand he created in the first place, a famous brand that helped Reddit ride to a <a href="https://markets.businessinsider.com/news/stocks/reddit-revives-ipo-plans-go-public-lower-valuation-meme-stocks-2023-2">$10 billion valuation"</a>.The social media company was valued at $10 billion in an August 2021 private funding round, but was recently valued by Fidelity at $6.6 billion, <a href="https://affiliate.insider.com/?postID=63ecc18b32953015855c5ea7&amp;site=mi&amp;u=https%3A%2F%2Fwww.theinformation.com%2Farticles%2Fstripe-and-instacart-fare-poorly-in-fidelity-value-markdowns%3Frc%3Drlufcw&amp;amazonTrackingID=null&amp;platform=browser&amp;sc=false&amp;disabled=false&amp;utm_medium=ingest&amp;utm_source=markets" target="_blank" rel="noopener">per The Information</a>.Reddit is now asserting its ownership over all of its subreddit brands as part of its revival of its <a href="https://markets.businessinsider.com/news/stocks/reddit-revives-ipo-plans-go-public-lower-valuation-meme-stocks-2023-2">plans to go public</a>, according to the lawsuit."This is a completely frivolous lawsuit with no basis in reality," a Reddit spokesperson said in response to Insider's request for comment.The spokesperson added that Rogozinski was removed as a moderator of WallStreetBets by Reddit and banned by community moderators "for attempting to enrich himself.""It's telling that he is filing this suit three years after he was banned from r/WallStreetBets and long after the community rose in mainstream popularity without his involvement," they said. "We'll respond directly in court and continue to protect the best interests of the communities and moderators on our platform."The community had 1 million subscribers when Rogozinski filed to trademark the WallStreetBets name in March 2020. It now has 13.6 million subscribers, according to data from Reddit. Rogozinski's legal representative did not immediately respond to Insider's request for comment, which was sent outside regular business hours.The case is Rogozinski v Reddit Inc., 23-cv-00686, US District Court, Northern District of California (Oakland).

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There are a few things to consider before investing in a sports team

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Baadshah of Bollywood Shah Rukh Khan debuts on India's richest list with Rs 7,300 cr — here's how the King made his wealth

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Apple's Vision Pro has a familiar fatal flaw: They are nerd goggles that will make most people look uncool

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WallStreetBets' founder is suing Reddit over ousting him from the meme-stock forum, reportedly saying he wants $1 million after the 'nightmare' ban

Huileng Tan,George Glover

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