A few times a year, we seem to come across a news story that isn't just weird: It makes us question the direction the world is heading in, and if we can jump ship. This year, the story that made me want to lie on the floor and drink whiskey from a straw was the public unveiling of Fantex. This startup planned to create stocks based on professional athletes' performances, where a potential investor could buy and trade based on the future earnings of the athlete. Essentially, you can buy and sell stock in a rich human being to increase their worth or destroy them.
The first athlete to sign up was Houston Texan's running back Arian Foster. He would receive $10 million from Fantex and would then give them 20 percent of his earnings in the future. That sounds insane enough for athletes and investors. First of all, getting a pile of money in exchange for siphoning away future earnings seems like a risky financial plan for a professional athlete. And let's not forget that if, say, Foster finds out he has a sore knee he'd better be careful about who he tells, lest insider trading issues arise [source: Lattman and Eder].
Lo and behold, after a terrible injury in November 2013, Arian Foster had to undergo surgery that kept him out for the season. Fantex was forced to postpone the initial public offering [source: Kim].