Why the Olympics cost so much

This podcast episode examines the multifaceted reasons behind the consistent budget overruns of the Olympics, attributing it to factors like "eternal beginner syndrome," misaligned incentives between the IOC and host cities, and the limited success of cost-cutting measures. It suggests that while the Olympic Games may foster infrastructure development and can be a source of local pride, they should not be treated strictly as a business venture promising economic returns, but rather as an expensive celebration where cities must be ready to invest heavily without expectation of profit.