No, I am not citing a line from 300 right before the Spartan kicks the Persian into the pit, but that is a good scene in case you want to watch that again
.
I am talking about the event that occurs every year in March in the US.
I am talking about the event that I once skipped school for back in high school so I could watch all the games at Buffalo Wild Wings.
I am talking about the event which is costing companies about $15B in productivity losses due to employees not actually working.
I am talking about MARCH MADNESS!
And since you are reading this on a Sunday you already know that the madness has ensued.
Tourney favorites are knocked out, Cinderella's been crowned and heart-wrenching moments have already been on display for all the world to see.
Who knows how the next few weeks will play out, but if it is anything like the first 3 days, then I suggest you get your popcorn, sit back, and relax, as we consume some amazing games.
Just like every Sunday blog, I want to drop some knowledge on you.
March Madness is full of interesting facts and trivia. Here are some fun ones:
- The Origin of "March Madness": The term "March Madness" was first coined by Henry V. Porter in 1939 to describe the excitement of the Illinois High School Association (IHSA) basketball tournament. It was later popularized to describe the NCAA tournament.
- Billion Dollar Bracket Challenge: Warren Buffett's Berkshire Hathaway once offered a billion-dollar prize for anyone who could perfectly predict the outcome of all 63 games in the NCAA Men's Basketball Tournament. Needless to say, no one has ever won. As an employee of Berkshire Hathaway, Warren had an employee-only bracket that I also never got close to winning.
- Cinderella Stories: March Madness is famous for its Cinderella stories, where lower-seeded teams unexpectedly make deep runs in the tournament. One of the most memorable Cinderella stories is the 1983 North Carolina State Wolfpack, which won the championship as a No. 6 seed.
- The First Tournament: The first NCAA Men's Basketball Tournament was held in 1939, with only eight teams participating. The Oregon Ducks won the championship that year.
- The Bracket: Filling out brackets has become a national pastime during March Madness. It's estimated that millions of brackets are filled out each year, with friends, family, and even workplaces organizing bracket pools. Roughly 50% of the workforce creates a bracket.
- Perfect Bracket Odds: The odds of filling out a perfect bracket by randomly selecting winners for each game are astronomical—about 1 in 9.2 quintillion.
- March Madness Economic Impact: March Madness has a significant economic impact, with billions of dollars spent on advertising, ticket sales, merchandise, and tourism related to the tournament. It's estimated that the tournament generates over $1 billion in television advertising revenue alone.
March Madness isn't just about basketball, it offers several valuable life lessons too:
- Persistence Pays Off: Teams in March Madness often face tough opponents and challenging situations. The ones that succeed are those that persevere through adversity, never giving up even when the odds seem stacked against them. This teaches us the importance of resilience and staying committed to our goals, even when faced with obstacles.
- Teamwork is Key: Basketball is a team sport, and success in March Madness often depends on how well teams work together. Players must communicate, trust each other, and collaborate to achieve their goals. This highlights the importance of teamwork in any endeavor, showing that when individuals come together and support each other, they can accomplish great things.
- Preparation is Crucial: March Madness teams spend countless hours practicing, analyzing opponents, and developing game plans. This preparation is essential for success on the court and emphasizes the importance of preparation in life. Whether it's studying for an exam, preparing for a presentation, or pursuing a personal goal, thorough preparation increases the likelihood of success.
- Embrace Opportunities: March Madness is full of unexpected twists and turns, with underdog teams seizing the opportunity to make a name for themselves. This teaches us to embrace opportunities when they arise, even if they seem daunting or unconventional. Sometimes, taking a chance and stepping outside our comfort zone can lead to remarkable achievements.
- Stay Humble: Upsets are common in March Madness, with higher-seeded teams often falling to lower-seeded opponents. This serves as a reminder that no one is invincible and that humility is important, both in victory and defeat. It's essential to remain grounded, show respect for others, and never underestimate the capabilities of those around us.
- Believe in Yourself: March Madness is a showcase of incredible athleticism, skill, and determination. Many games are won not just by physical prowess, but also by mental toughness and self-belief. This teaches us the importance of confidence in ourselves and our abilities. Believing that we can overcome challenges and achieve our goals is often the first step towards success.
- Celebrate Achievements: Making it to March Madness is a significant accomplishment for college basketball teams, regardless of whether they win the championship. This teaches us the importance of celebrating achievements, no matter how big or small. Recognizing our progress and acknowledging our successes boosts morale, fosters positivity, and motivates us to continue striving for excellence.
There you have it. The 7 lessons that March Madness can teach us all. Now go turn the TV on and get yourself comfy for a great day of sports.
Dan Cosgrove is a partner at Anthem Capital.
Dan is a native of Cincinnati and is based out of Boston with his wonderful wife, cute baby, and a dumb dog named Waffles.
He is a business owner and real estate investor who would love to connect
to see how he can add value and joy to your life.
