Most Expensive Mistakes in all History - Part 2

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- One small slip-up can cause a catastrophic fallout like no other. Following on from part one, here's some more monumentally expensive mistakes that will go down in history for all the wrong reasons. (playful music) Number 10, Superman's Moustache. Cinema audiences may have noticed something strange about Henry Cavill's performance as Clark Kent, AKA Superman in the 2017 movie "Justice League." Critics quickly began talking about the actors haphazardly blurry upper lip, which made Superman look perplexingly non-human in various closeup shots throughout the film. As it turns out this unnerving facial deformity was actually the result of an embarrassing and costly mistake, especially considering "Justice League" ended up being the lowest grossing movie in the DC Extended Universe. After filming wrapped, Warner Brothers realized they needed to schedule some urgent reshoots for extra scenes. But there was one small problem. Cavill was already filming for "Mission Impossible six" and he'd grown up big ole' moustache, especially for it. Despite Warner Brothers arguing how much easier it would be to add a virtual mustache to the actor for "Mission Impossible" than to remove it for "Justice League" and even offering to pay for the work themselves, Paramount banned Cavill from shaving his facial hair. With no other option, Video FX artists had to painstakingly remove the 'stache scene by scene, which along with the payout of organizing the reshoots ended up costing a whopping $25 million. A hefty fine to pay for just one moustache. Number nine, Lottery Loss. Most people can only dream about winning the lottery. But for one anonymous pensioner in Coventry, England, that dream very nearly became a reality. In October 2010, the EuroMillions jackpot was worth a staggering, $145 million. The biggest lottery prize in British history thus far, and hopeful ticket holders, eagerly awaited their numbers to come up. After the announcement on October 8th over a 1000 people submitted claims that they were the possible winner, including a 70 year old woman who came forward to confess that her husband might've thrown away her winning ticket. She claimed that she played the lottery every week, and always wrote down her numbers in a notepad before passing the ticket to her husband for safekeeping. After hearing speculation that the winning ticket was purchased in Coventry, she checked her numbers and couldn't believe her luck, until she realized the ticket was nowhere to be seen. The discarded winnings would have made her the 589th richest person in Britain, ranking higher than Phil Collins and David Bowie, before his death, making this one costly mistake. After coming to terms with the unfortunate situation, the pensioner said she had forgiven her husband at 50 years, but I'm sure he won't be taking the trash out ever again. Number eight, Splendid China. Successful theme parks can be total money-making machines. But Florida's Splendid China park proved that it's not easy getting a brand new attraction off the ground. This 75-acre model replica park in Citrus Ridge, near Orlando cost $100 million to build and was intended as a companion to Splendid China theme park in Shenzen, China. But it ended up being a cash devouring graveyard instead. After opening to some three and a half million visitors, in 1993, the Chinese government bought out its American partners to gain full ownership of the park. With property developer, Josephine Chen, who came up with the idea at the helm. Soon after concerns arose that the park was being used as a gateway for communist propaganda, and Americans started losing interest. Protests also began regarding the recreation of religious exhibits that were not of Chinese origin, like the Potala Palace built by the Tibetan people, which was home to successive Dalai Lamas since 1645. In November, 1995, the Florida's Pinellas County School Board voted to ban trips to the park. And even a sudden name change to Chinatown in 1996, couldn't save it. By 1999, it was reported that Splendid China had lost 9 million each year, or about 200 million in total. And its inevitable closure was set for December 31st, 2003. The site went up for sale just 30 million in 2009, but suffered brutal looting and vandalism, which left it completely barren. Demolition officially began in May, 2013 and by March, 2016, the park was gone completely. Number seven, Cerro Grande Fire. On May 10th, 2000 a wildfire known as the Cerro Grande Fire became one of the most destructive events the state of New Mexico has ever seen. The blaze was intended as a deliberate controlled burn during a 10-year plan to protect the Bandelier National Monument, and reduce the national fire hazards and its surrounding areas. Drought conditions in the late '90s made the area tinder-dry and subject to possible ignition under unexpected circumstances like a lightning strike. So Bandelier officials hope the controlled burn within the coniferous and grassy areas. Unfortunately, they didn't account for high winds on the Cerro Grande summit, where the fire was started and the blaze quickly ripped through 150,000 acres of land. Thankfully, no lives were lost, but after multiple evacuations, the fire was not declared fully extinguished, until the 20th of July, by which point the damage was irreversible. Officials were faced with harsh criticism for proceeding with the fire, despite the contradictory weather conditions, and the US General Accounting Office has estimated that the total damages cost around $1 billion. Number six, Spirit of Kansas Crash. The B-2 stealth bomber is an impressive piece of equipment. But on February 23rd, 2008, the Spirit of Kansas 89-0127 became the first of its kind to spectacularly crash just moments after taking off outside Guam. The US Air Force bomber had already logged over 5,100 flight hours, when it was suddenly brought down over the runway. But the state-of-the-art war plane might not have ended up a fiery wreck, had it been for one simple fix. Reports found that the cause of the crash was a few drafts of rainwater, in three of the 24 air pressure sensors that feed data to the flight control system which distorted the planes positioning. Once the moisture evaporated, the crew's recalibrated sensors were providing false data on air speed and pressure, which measure altitude causing the aircraft to stall. During previous B-2 deployments to humid Guam, where planes are mostly stored outside, maintenance personnel had reportedly used an unofficial fix by turning on the heat and boiling off moisture before calibration. If this bootleg procedure had been widely communicated, the first crash in the stealth bombers, 19 year flying history, might've been avoided. Thankfully the two pilots ejected in time, but the $1.4 billion war plane was reduced to scrap metal in minutes, making this one costly human error. Number five, Costa Concordia disaster. On January 13th, 2012 the Italian Costa Concordia ship set sail for a week's cruise around the Mediterranean sea, but it was tragically destined to become one of the most expensive marine losses in history. A few hours after leaving Cavitavecchia, the captain Francisco Schettino, deviated from the standard course by ordering a maritime salute, while approaching the Island of Giglio, an area known for Rocky outcrops. When dangerous terrain became visible, Schettino ordered a change in course, but communication issues with the Indonesian helmsman meant the ship was steered in the wrong direction. In the 13 seconds it took to rectify, the ship ran aground, with 1,023 crew members, and 3,206 passengers on board. Suffering a 174 foot tear on the left port side, and flooding in five key areas, before capsizing and killing 32 people. An operation to refloat and free the ship from the huge rocks it was embedded in began in September, 2013, costing a record-breaking $1.2 billion. The captain and four other crew members were tried for misconduct, and Schettino was sentenced to 16 years in prison for his actions. The total cost of the disaster, is now an estimated $2 billion, more than three times, the $612 million it cost to build. Which included victim's compensations, lawsuits of $93 million, salvage costs and $100 million for the ship to be broken into scrap metal. Number four, New Bay Bridge. When you're redesigning something as monumental as a bridge, disputes are bound to happen. But the debacle over the New Bay Bridge in California ended up taking over a decade longer, and several billion dollars more than the original cost to build. After the Eastern section of the original Bay Bridge collapsed following the Loma Prieta earthquake in 1989, and another quake in 1999, the California Department of Transportation announced the state would spend seven years replacing it. The original state funded proposal of $1.3 billion was for a simple Skyway like California's San Mateo Bridge. But politicians and residents called for a more impressive, Golden Gate style structure. The mayors of San Francisco and Oakland, then began contesting the alignment of the bridge on either side, delaying the process for a further two years. Eventually, a design was agreed on and the date of unveiling was set for 2004. But construction still hadn't started in 2001, and that cost was already up to $2.6 billion. By 2004, steel prices were up 50% and the booming economy pushed the cost of $5.6 billion. And after going back to the drawing board, toll prices were raised to $5, to compensate. Despite further complications including a $25 million fix on shoddy bolts, the New Bay Bridge eventually opened in 2013, with a final price tag of six and a half billion, a 2500% overrun from earliest talks of some $250 million. Number three, Australia's NBN Rollout. In the modern first world, working WiFi is something most people take for granted. But Australians may have a newfound relationship with the pitfalls of digital connectivity, after widespread controversy over botched plans to install nationwide broadband. In 2009, the government funded National Broadband Network company vowed to deploy future-proof network connectivity across the country by 2020. But 10 years on, it has been met with many complications and criticisms. Constant delays and desperate attempts to re-assess the possibility of supplying terrestrial fiber network coverage to 93% of Australian premises caused negative media attention, and public outcry. As the sixth largest country in the world, with a relatively sparse population of just 24.6 million, the reality of bridging the digital divide, where population density is just three people per kilometer squared, is hard to envision. As a result, the project cost jumped from an estimated $29.5 billion, before the 2013 federal election, to some 46 billion afterwards. And it's now expected to cost a staggering 51 billion by 2020. The worst part? Australia still ranks only 60th in the world, for broadband connectivity. Sometimes, it's best to quit while you're ahead. Number two, Ron Wayne's Apple Shares. Most people would kill for a 10% share in Apple nowadays. But one man threw away his golden ticket to wealth, beyond his wildest dreams for just $800. You've probably heard of Steve Jobs and Steve Wozniak, but there was once a little known third founder of Apple, Ron Wayne. Who joined the former young entrepreneurs in 1976 to oversee mechanical engineering and documentation. He even penned the original logo. In return, he gained a 10% stake in the business, but after becoming concerned about possible debts falling on him, he decided to sell his share less than two weeks after drawing up his own contract. Although Wayne had claimed that he doesn't regret the potential screw up, his original share of the company would now be worth 120 billion, making him the richest man in the world, according to the 2019 Forbes rich list. By the end of 2019, the global tech giant valued at 1.2 trillion. So even a small slice of the remarkable company, could be life altering. One thing Wayne does regret though, is not holding onto his original contract, which he also sold for $500 in the '90s. Unfortunately for him, the same contract sold at the Sotheby's auction in 2011, for a whopping $1.6 million. Number one, Chernobyl Disaster. The Chernobyl nuclear disaster of 1986 is undoubtedly the biggest socio-economic accident, in peacetime history. And the death toll, including those who died from cancer years later, is now expected to be over one million. On the 26th of April, the Soviet government ordered the operators of Chernobyl to keep the reactors at full power, after initially asking them to slow it down to low for a test. And a series of complications and design faults in the control rods being handled set off a devastating chain reaction. As high pressure blew the lid off the reactor, the rods ignited into a graphite fire which spewed radioactive molten fuel into the open air, instantly costing the lives of 30 immediate responders. The fire took over a week to extinguish, and the repercussions are still being felt today. Recently a huge gripping claw and Pripyat used to lift graphite rods after the disaster, has been declared so radioactive, that it could kill with a single touch. Although such massive losses are hard to account for, a report from the International Atomic Energy Agency estimates that the disaster, which was caused by misconduct and faulty equipment cost over $235 billion. This includes cleanup costs, social benefits to seven million survivors, and costs of vacated agriculture and logging land, while total spending from the Ukraine after the dissolution of the Soviet Union, set the country back at least a decade in economic development. Which of these monumental mistakes do you think could have been most easily avoided? And do you know of any other constantly mistakes that should've made this video? Let me know in the comments below, and then maybe featured in a future video. Thanks for watching. (playful music)
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Channel: BE AMAZED
Views: 2,902,881
Rating: 4.8515687 out of 5
Keywords: beamazed, be amazed, top 10, expensive mistakes, most expensive, most expensive mistakes ever made, expensive fails, most expensive fails, most expensive mistakes, business mistakes, lost money, costly mistakes, biggest mistakes, worst decisions, expensive mistakes funny
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Length: 14min 4sec (844 seconds)
Published: Sat Apr 04 2020
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