In golf and in business

In the post-round interview of Tiger Woods at The Open, Tiger was asked whether he would rather have calm winds as they were during his round or whether he'd prefer the more typical St. Andrews winds of 30+ mph gusts. He answered that he much prefer the gusty winds. Some might find this an odd answer; however, it makes perfect sense. As the commentators joked, the difficult conditions make it easier for the big named players (the cream) rise to the top. In other words, the lack of experience of other players in dealing with the weather effectively reduces the competition for the best players in the field.

Tiger's answer reminds me of Philip Morris' support for additional regulations to ban flavored cigarettes. Such regulation applies to Philip Morris as well as all the smaller niche producers. However, Philip Morris has the market position to deal with such restrictions. The smaller producers, the "micro-brews" of the cigarette industry, are severely disadvantaged and many will go out of business, unable to compete without their niche flavoring. This regulation acts to reduce competition and increase Philip Morris' market share.

So, in golf and in business,the more severe conditions--from weather or from government regulation--more easily allow for the big boys to rise to the top. The difference is that golfers can't control the weather whereas lobbyists can influence public policy.