Semiconductor International, not the usual place you find a discussion about horse racing, takes us to Saratoga Springs to tell us a tale of two bets, one that paid off, one that didn't. The winner was New York's investment in semiconductor fabs in upstate New York. The loser was the state of Texas, whose subsidies for Texas Instruments' empty fab in Richardson have yet to yield results.
There are no lessons here to help us make better bets in the future, but maybe the story offers consolation to the taxpayers in Texas to learn that maybe it wasn't necessarily a stupid bet. Some horses pay. Some don't. That's how gambling works.
Hat tip to Pris Hayes. Follow her on Twitter.
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