In his book Zero to One, Peter Thiel writes about how great businesses are started by identifying “secrets.”
“Every one of today’s most famous and familiar ideas was once unknown and unsuspected. The mathematical relationship between a triangle’s sides, for example, was secret for millennia. Pythagoras had to think hard to discover it. . .Most people act as if there are no secrets left to find. . .People are scared of secrets because they are scared of being wrong. By definition, a secret hasn’t been vetted by the mainstream. If your goal is to never make a mistake in your life, you shouldn’t look for secrets.”
In a nutshell, this is what I think daily fantasy sports is all about: finding the “secrets” others are overlooking—the pieces of information or strategies that others (or very few people) are using.
I’ve written about this in the past with a concept I called “usable value.” The idea is that there are two types of value, specifically in daily fantasy tournaments: traditional “dollar-per-point” value, and then usable value that accounts for player ownership.
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