Patrick Young (InTrades fifth Beatle) still cant figure out the industry he helped created.

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Well, we&#8217-re here to help out the lost souls. :-D

Patrick Young:


Director and Founder: Intrade

Privately Held- 11-50 employees- Capital Markets industry

September 1999 – February 2002 (2 years 6 months)

I was one of the founders and a director of the company Intrade which set up one of the first sports exchanges in Europe.

Nowadays there is a vogue for calling these businesses prediction markets&#8230-which presumably mans there must be markets that don&#8217-t predict events and trade on past [occurrence]?

No, it means that prediction markets are optimized for simplicity and usability &#8212-as opposed to the other derivative markets, which are quite complicated and inaccessible to the mainstream people.

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