'People will forgive you for being wrong, but they will never forgive you for being right - especially if events prove you right while proving them wrong.' Thomas Sowell
Search This Blog
Showing posts with label auction. Show all posts
Showing posts with label auction. Show all posts
Wednesday, 5 January 2022
Wednesday, 31 January 2018
Lessons from the IPL Auction 2018
Suresh Menon in The Hindu
Both Neville Cardus and C.L.R. James asked whether cricket is an art, and answered in different ways. Cardus compared cricket to music while for James it belonged alongside theatre, opera and dance. Thus, art, yes, but the performing arts, and for what happens on the field.
It is now safe to say that cricket belongs to the visual and plastic arts — painting and sculpture — but not for what happens on the field. The IPL auction has added another dimension with the question: what is the value of a player? Is he like a Jeff Koons or an M.F. Hussain?
Is Jayadev Unadkat worth ₹11.5 crores? Is Hashim Amla not worth anything at all? The comparison with art is inevitable. A painting is worth exactly what someone is prepared to pay for it. In his book The Value of Art: Money, Power, Beauty, the art dealer Michael Findlay gives a more sophisticated explanation.
“The commercial value of art,” he says, “is based on collective intentionality. Human stipulation and declaration create and sustain the commercial value.” Replace “art” with “cricketer” and that still holds. If, based on sports metrics and private algorithms, Mumbai Indians think Krunal Pandya is worth ₹8.8 crores, you cannot argue.
On a weekend when every Test-playing country was engaged in an international, the focus was on a hotel ballroom in Bangalore. You can read all kinds of meaning into this. “It will be a distraction,” South Africa’s captain Faf du Plessis had said earlier. Kamlesh Nagarkoti, at the Under-19 World Cup in New Zealand said, “I went and sat inside the washroom even as my bidding was going on.” It went on and on and didn’t stop till it had reached ₹3.2 crores.
It was possible to switch channels between the auction and the incredible Indian performance at the Johannesburg Test. Virat Kohli certainly wasn’t distracted — his ₹17 crores was already in the bank. It would be interesting to discover which event garnered the more eyeballs; that should tell us the direction the sport is taking. In The Australian, Gideon Haigh wrote a piece headlined: IPL auction now the real centre of world cricket.
A union minister tweeted that most players didn’t deserve half the amounts they were bought for. Politicians are allergic to such transparent contract negotiations. However, what he and others find difficult to deal with is the fact that the market decides value. And the market can be cruel and ageist, often casually dispensing with high-performing players of the past. It is influenced by the ego of the bidder too. Monetary value is not always the same as cricketing worth.
Part of the confusion is caused by top players going unsold. In the recent Test, Amla and Ishant Sharma put in inspiring performances, yet find themselves with no role in the IPL. The way to reconcile this is to acknowledge that IPL and Test cricket are as different from each other — tactically, physically, psychologically, emotionally — as soccer and cricket or kabaddi and tennis. They just happen to use the same equipment.
It took the franchises some time to realise this. The inaugural auction had nothing to go by and established Test players were most sought after. Royal Challengers had Rahul Dravid, Jacques Kallis, Wasim Jaffer, Shivnarine Chanderpaul. Today they would have to depend on pity-selection by friends in the franchises, if at all. Cricket has changed, the IPL most of all, and auctions, even if not fully professional yet are headed in that direction. Data is king. How good are you between overs 11 and 16, for example?
Both Neville Cardus and C.L.R. James asked whether cricket is an art, and answered in different ways. Cardus compared cricket to music while for James it belonged alongside theatre, opera and dance. Thus, art, yes, but the performing arts, and for what happens on the field.
It is now safe to say that cricket belongs to the visual and plastic arts — painting and sculpture — but not for what happens on the field. The IPL auction has added another dimension with the question: what is the value of a player? Is he like a Jeff Koons or an M.F. Hussain?
Is Jayadev Unadkat worth ₹11.5 crores? Is Hashim Amla not worth anything at all? The comparison with art is inevitable. A painting is worth exactly what someone is prepared to pay for it. In his book The Value of Art: Money, Power, Beauty, the art dealer Michael Findlay gives a more sophisticated explanation.
“The commercial value of art,” he says, “is based on collective intentionality. Human stipulation and declaration create and sustain the commercial value.” Replace “art” with “cricketer” and that still holds. If, based on sports metrics and private algorithms, Mumbai Indians think Krunal Pandya is worth ₹8.8 crores, you cannot argue.
On a weekend when every Test-playing country was engaged in an international, the focus was on a hotel ballroom in Bangalore. You can read all kinds of meaning into this. “It will be a distraction,” South Africa’s captain Faf du Plessis had said earlier. Kamlesh Nagarkoti, at the Under-19 World Cup in New Zealand said, “I went and sat inside the washroom even as my bidding was going on.” It went on and on and didn’t stop till it had reached ₹3.2 crores.
It was possible to switch channels between the auction and the incredible Indian performance at the Johannesburg Test. Virat Kohli certainly wasn’t distracted — his ₹17 crores was already in the bank. It would be interesting to discover which event garnered the more eyeballs; that should tell us the direction the sport is taking. In The Australian, Gideon Haigh wrote a piece headlined: IPL auction now the real centre of world cricket.
A union minister tweeted that most players didn’t deserve half the amounts they were bought for. Politicians are allergic to such transparent contract negotiations. However, what he and others find difficult to deal with is the fact that the market decides value. And the market can be cruel and ageist, often casually dispensing with high-performing players of the past. It is influenced by the ego of the bidder too. Monetary value is not always the same as cricketing worth.
Part of the confusion is caused by top players going unsold. In the recent Test, Amla and Ishant Sharma put in inspiring performances, yet find themselves with no role in the IPL. The way to reconcile this is to acknowledge that IPL and Test cricket are as different from each other — tactically, physically, psychologically, emotionally — as soccer and cricket or kabaddi and tennis. They just happen to use the same equipment.
It took the franchises some time to realise this. The inaugural auction had nothing to go by and established Test players were most sought after. Royal Challengers had Rahul Dravid, Jacques Kallis, Wasim Jaffer, Shivnarine Chanderpaul. Today they would have to depend on pity-selection by friends in the franchises, if at all. Cricket has changed, the IPL most of all, and auctions, even if not fully professional yet are headed in that direction. Data is king. How good are you between overs 11 and 16, for example?
Thursday, 6 June 2013
In the digital economy, we'll soon all be working for free – and I refuse
The digital economy operates as a kind of sophisticated
X Factor: someone will make it, but most won't – and the real loser is society
X Factor: someone will make it, but most won't – and the real loser is society
Never mind checking your privilege. Flaunting those enviable privileges is where it's at. Go to any of our big cities and cash will be flowing through ponced-up restaurants nestled between Poundland and the nail bars. They even wave it in our faces.
Already at a private school that charges £7,000 a term? Then you must need a hand up the ladder. So let Mater and Pater bid as internships for Mary Portas or FabergĂ© are auctioned off. Not so much getting a foot in the door as crowbarring it in with money. Theirs is a world in which austerity remains an abstract idea.
Meanwhile, we have more than a million Neets in the country – young people not in work, education or training. They could do with a helping hand but they have somehow missed the boat. It hardly matters to them that the boat was the Titanic. Their older brothers and sisters have gone to college but are still in a world of part-time pub jobs. They don't have proper salaries and therefore no chance of mortgages. And, of course, in other European countries the situation is even worse.
At this point it is customary to blame the banksters. Or at least the politicians. But there is another group partly responsible for the parlous state in which we find ourselves: the digi-heads of Silicon Valley who told us everything could be kinda free. And easy. In some virtual paradise.
But it's not lovely being asked to work for free, whether you are 18 or 48. On the popular free app known as Facebook, the great music writer Barney Hoskyns put up a manifestothat struck home: he asked "freelance content providers" – be they actors, writers, musicians or photographers – to withdraw from unpaid labour. (I did that a while back – except, of course, for causes I believe in.)
But this is about more than that. It's about technology taking jobs, about what it can and can't provide. Hoskyns quotes Jaron Lanier's new book Who Owns The Future?, in which he argues: "Capitalism only works if there are enough successful people to be customers." Lanier, a computer scientist and a musician, is rightly called a visionary because he sees what is happening, when everything is live-streamed but no one knows the name of the person who made the music any more. Content is free.
Governments play up the idea that a digital future creates jobs rather than eats them up. Culturally, there is now a fantasy world of start-ups and blogs and YouTube TV where a very few people manage to make money but most work simply for "experience".
In an interview with Scott Timberg for Salon, Lanier gives a potent example: Kodak used to have "140,000 really good middle-class employees. Instagram has 13 employees, period." He describes a winner-takes-all world, with a tiny number of successful people and everyone else living on hope. "There is not a middle-class hump. It's an all-or-nothing society."
We can shrug and say it's just another industrial revolution, a move from formal to informal work, the whole "portfolio" number. But where is the social contract, then, if it "doesn't tide you over when you're sick and it doesn't let you raise kids and it doesn't let you grow old"?
The implosion of the middle class produces instability. We cannot all be freelancers for ever. Freelance work, like interning, is fine if you have the funds to manage without a regular income. That is, if you are already wealthy. But the digital economy operates as a kind of sophisticated X Factor. Someone will make it, sure. For more than 15 seconds even, maybe. But most won't. This is why Lanier says the internet may destroy the middle classes, the people who can't outspend the elite. And without that middle group, we cannot maintain a democracy.
He sees musicians and artists and journalists as canaries in the mineshaft of this new economy. Who will pay them? "Is this the precedent we want to follow for our doctors and lawyers and nurses and everybody else? Because, eventually, technology will get to everybody."
Education and healthcare farmed out to the bright-eyed tech nerds? It's already happening. We are already missing the human touch in our hospitals and schools. Gove'snew iPad-levels still cut out the creative subjects from the core – and just when we need the innovations they bring the most. Growth – the holy grail, with nearly half of all European youth unemployed – is impeded when technology eats into job security and therefore has repercussions for pensions and benefits. Those without salaried work cannot hope to support an older generation.
The creative industries, first music and now journalism, saw these changes coming too late. My children have been brought up in a world where they have to compete with those who will work for free. It is only a matter of time until we will all be asked to do the same. And I refuse.
For what is being eroded is not only actual wages but also the very idea that work must be paid for. Huge profits are being made from these so-called opportunities for our youth. But they are, in fact, the exploitation of insecurity. This is not about being anti-technology. It is about being pro-human. Technology is here and it's often great. But we must find a sustainable way of using it so that the stuff we do or make is paid for in living and not virtual wages.
Subscribe to:
Posts (Atom)