Word: moneyitis
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...first tweet came through just two hours after the massive earthquake devastated Haiti's capital early Tuesday evening: "Please text 'Yéle' to 501501 to donate $5 to Yéle Haiti. Your money will help with relief efforts. They need our help." Sent from the Twitter account of Haitian-born musician Wyclef Jean, the text message went out to the singer's nearly 1.4 million followers and kicked off what has quickly become the largest text-based fundraising campaign for disaster relief in history. An American Red Cross text-donation campaign, which was launched an hour after...
...have waived their typical waiting period of two weeks to deposit the donations. Firms like Mobile Accord - which manages the Red Cross system, among others - pay out donations on a quarterly basis, after customers have paid their cell-phone carriers and those companies have forwarded the money, 100% of which goes toward relief efforts. (Read "Seismologist Roger Musson: Haiti Quake...
...learn a lot about gambling if you're willing to analyze 27 million hands of online poker. Don't have time for that? No worries; sociology doctoral student Kyle Siler of Cornell University has done it for you. His counterintuitive message: the more hands you win, the more money you're likely to lose - and this has implications that go well beyond a hand of cards...
...limited the games to no-limit Texas Hold 'Em with six players in order to eliminate at least some extraneous variables. It was in the course of crunching all that information that he found the strangely inverse relationship between the number of hands won and the amount of money lost. He also noticed that it was novice players who lost the most...
...fours - or with any cards from twos to sevens. That's because the cards' modest numerical worth is easy to understand: they're valuable but not that valuable. When you get into the more rarefied air of eights to aces, you may start losing perspective and putting up more money. "Small pairs have a less ambiguous value," Siler says. (See more about casinos...