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.

Patrick Young = The InTrade co-founder you never heard about

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The greatest benefit of being the most popular blogger on prediction markets is the private e-mails I get from all the corners of the globe. I come to meet, over the Internet, the world&#8217-s finest luminaries &#8212-from the Academia or from the entrepreneurial world.

Now, try to guess who that guy is:

  1. He wrote about prediction markets (before that moniker was applied) and betting exchanges in his book &#8220-Capital Market Revolution!&#8220-, published in 1999 &#8212-while Andrew Black was developing BetFair.
  2. He co-founded GSX/Tradesports/InTrade in 2000.

You have probably never heard of him&#8230- but you should compute him starting today &#8212-Patrick Young. And, of course, he blogs and twitters&#8230- Don&#8217-t miss his ultra-copyrighted podcast on the &#8220-fascinating&#8221- American Civics Exchange&#8230-