By the Emerging Country Debt Team
Virginia's governor signed a law Thursday that allows the state's colleges and universities to directly pay athletes through name, image and likeness deals. The law signed by Gov. Glenn Youngkin bypasses an NCAA rule that prevents schools from paying athletes under NIL guidelines. NIL rules, enacted in 2021, allow college athletes to agree to deals with local and national businesses that compensate them for advertising or personal appearances.
Known for his blunt wit and homespun wisdom, the late Charlie Munger offered an analogy that remains relevant: “If you mix raisins with turds, they’re still turds.” At the 2000 Berkshire Hathaway Annual Shareholders Meeting, a discussion unfolded regarding the speculation frenzy in high-tech and internet arenas. Amidst the dot-com bubble, questions were raised about the long-term economic implications of speculative activities. Don't Miss: Warren Buffett flipped his neighbor's $67,000 life savin