Hiring a friend to beat .50/1

[cassette]

I have been making some decent money the last 6 months or so and am looking to invest it. I don’t really like the idea of stocks as I am incredibly ignorant in this type of thing and when it comes down to it there are very few companies that I would like to support anyway.

I also happen to have a few friends that have been wanting to get in on making money in their underwear.

So here is the plan: I will hire a friend to beat .50/1. I will provide a bank roll, coaching, and reading material for the first 100 hours. For this time period I will pay this individual $9 an hour.

My involvement will be somewhat minimal. I expect this individual to be self motivated and dedicated to learning the game in the same manner that they would be dedicated to a job paying a little more than minimum wage. I can provide a list of reading material and the order in which to progress with it. I will spend ~1 out of every 5 hours with this person reviewing hand histories, explaining bonus whoring, sitting in on play, ect.

I expect to be able to teach my friend to beat .50/1 for more than $9 an hour within 100 hours. At this point I will take any profit that they make beyond $9 an hour until I make my $900 back plus a figure I haven’t really determined yet. Maybe another 4 or 5 hundred. Assuming they can beat .50/1 for $15 an hour this should be another 80 hours or so. So in total, this will be about a 6 week commitment from this person. (Assuming 30 hour weeks)

What I get: $500 that I wouldn’t otherwise have. I would also hopefully get a bunch of “refer a friend” bonuses.

What I give: 36 hours of my time spent hanging out and talking poker with a friend. I think that I would also learn from this as a teacher often learns as much as the student.

What my friend gets: 6 weeks of employment at $9 an hour with a substantial raise after this time period. (Not to be mean, but $9 an hour is actually a pretty decent wage for the people that I would consider hiring for this. Most of them are currently washing dishes or performing other “service industry” jobs for $6.65/hr.)

What they give: 6 weeks of their time. Possibly quitting a more stable job.

Obviously if I were to go through with this a lot more detail would be put into it, but this is just a start.

So is this a ridiculous idea?