The Enhanced Games — tech’s steroid extravaganza — didn’t pay off, as company posts $60 million loss
The Enhanced Games, a sports competition allowing performance-enhancing drugs, has proven to be a commercial failure with a $60 million net loss. Despite high-profile backing, the event failed to generate significant interest or revenue, casting doubt on its future viability.
Why it matters
It highlights the financial risks of disruptive sports business models and the challenges of monetizing controversial niche events.
I traveled to Las Vegas in May to watch the Enhanced Games — a one-of-a-kind sports competition that lets athletes compete while using the kind of performance-enhancing drugs typically banned in professional sports. The games, derided as the “steroid Olympics,” were put on by a telehealth company backed by the likes of Peter Thiel and staffed by veterans of the crypto, AI, and biotech industries.
The event ended up being more than a little anticlimactic. Hailed by its creators as an event that would fundamentally transform the world of organized sports, the games resulted in few exciting feats. Only one world record fell, and it came in swimming, a sport where records are broken often.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in