Ghost Mail Weekender

Happy Sunday Voornaam,

It's been another week of the Olympics in the headlines and on the TV. There's been no shortage of controversy at these Olympics, ranging from that opening ceremony through to the water quality of the Seine and all kinds of debate around how to treat people with genetic traits that make them unusual.
It really has been odd to see the double-standards, with Caster Semenya having received so much support locally, while other athletes in potentially similar positions have had the opposite. Bias is such a core part of what it means to be human, which is why behavioural finance is a fascinating field of study in investing.
With the miracle of the internet, what should be a unifying event has largely become a circus of people live-tweeting their hot takes on topics ranging from the most divisive opening ceremony in recent memory, to the world both discovering and simultaneously becoming obsessed with Stephen Nedoroscik (aka Pommel Horse Guy). It's a good time to own a social media platform, if nothing else.
Through some of the darkness, there's at least the joy of internet humour. One of our favourite Olympic finds of the last week has been the 10 Metre Air Pistol
Shooting event, where two athletes we’ve never heard of before have instantly established themselves as the coolest people we’ve ever seen.
The first is Kim Yeji, who won the silver medal for South Korea on the 28th of July. Sporting a black jacket, white cap and futuristic-looking glasses that block out her non-aiming eye, Yeji claimed the silver medal with the kind of ice-cold nonchalance that us mere mortals can only dream of.
Just look at that stance:

On the opposite end of the spectrum but equally impressive, Turkish air pistol shooter Yusuf Dikec bagged a silver medal with no ear protection, no specialised lenses and one hand slung in his pocket. The 51-year-old is participating in his fifth Olympic Games this year.
Fun fact: most shooters aim with one eye closed, which is why those steampunk-esque glasses are a common sight in the shooting event. The fact that Dikec was shooting with both eyes open implies that he was taught to shoot in the military. You may be cool, but you’ll probably never be ex-soldier-arrive-and-drive-at-the-Olympics cool.

Read on for the story of the Olympic Torch and what goes into keeping it lit. For a final bit of Olympic joy, Dominique's fast facts bring you some fascinating tidbits from the history of the event.
Don't fear - we aren't focusing only on the Olympics today. Dominique's weekly column is a brilliant look at first mover disadvantage and how this seems to be playing out for ChatGPT. It's not to be missed and you can enjoy it here.
Have a great Sunday!
The Finance Ghost (follow on X) | Dominique Olivier (connect on LinkedIn)

What ChatGPT can teach us about first mover disadvantage

Torch-lighting is serious business

TL:DR: No ordinary BIC lighter will do when it comes to lighting the world’s most important torch. Instead, the Olympic Torch is lit by Apollo himself.
Ever heard of the Hellenic Olympic Committee?
It sounds like a group of middle-aged women named Helen coming together to discuss the athletes’ outfits at the opening ceremony (“Why are they dressed in beige? They look like tour guides!”) - but it’s actually much older and more impressive than that. This is the governing Olympic body of Greece, which organises the country's representatives at the Olympic Games and other multi-sport events.
Most impressively, however: this is the committee that has overseen the lighting of every Olympic torch since 1936.
We knew that the Olympic torch was part of an impressive relay effort between countries before it arrived at its destination in the host country, but what we didn’t realise is that this journey always starts in the ruins of the temple of Hera in Olympia, Greece.
A few months before the Games start, the Hellenic Olympic Committee holds a special ceremony in Olympia, where the ancient Olympic Games once took place. During this event, the high priestess lights the flame by using a parabolic mirror to catch the sun's rays. The process is accompanied by a prayer to Apollo, the sun god, for assistance in lighting the torch.
The ceremony includes a performance by young Greek dancers, dressed as priestesses and Kouroi, who present a dance inspired by ancient traditions. Once the flame is lit, it's placed in an urn and taken to the ancient stadium by Hestiada, the priestess responsible for keeping the fire. There, the high priestess passes the flame to the first torchbearer along with an olive branch, a universal symbol of peace.
In 1976, the flame was transported via radio wave for one leg of its relay. The flame's heat was detected by sensors in Athens, converted into a radio signal, and sent via satellite to Ottawa. There, the signal triggered a laser beam that re-lit the flame. The torch itself, though not the flame, has even been taken into space by astronauts in 1996, 2000, and 2014. Over the years, the torch has travelled in many unique ways, including being carried in a Native American canoe, on a camel, and even aboard the Concorde. It has also crossed water on at least two occasions: during the 1968 Winter Olympics, a diver carried the torch across the port of Marseilles, keeping it aloft above the water, while in 2000, an underwater flare was used by a diver to transport the flame across the Great Barrier Reef on its way to the Sydney Games.
And if you’re wondering what happens if the flame goes out somewhere along its journey, don’t fret: two torches are lit in Olympia, with one intended to be used to relight the main torch, should it go out. That way, the Hellenic Committee ensures that Apollo’s blessing makes it to the host city come rain or shine.

Dominique's fast facts: Still the Olympics

An assortment of facts that will take you only a minute to read.

During the 1936 Berlin Games, two Japanese pole-vaulters tied for second place. Instead of competing again, they cut the silver and bronze medals in half and fused the two different halves together so that each of them had a half-silver and half-bronze medal.

Although women have been allowed to compete in the Olympics since 1900, the 2012 London Games were the first Olympics in which all of the participating countries sent female athletes.

From 1912-1948, artists also participated in the Olympics. Painters, sculptors, architects, writers, and musicians competed for medals in their respective fields.

The five rings of the Olympic symbol represent the five inhabited continents of the world. The six colours – blue, yellow, black, green, red, and the white background – were chosen because every nation’s flag contains at least one of them.

Johnny Weissmuller, an athlete-turned-actor who played Tarzan in 12 movies, won five Olympic gold medals in swimming in the 1920s.

During the 2012 London Games, the Olympic Village required 165,000 towels for just over two weeks of activity.