Freakonomics Radio 652. Inside the Horse-Industrial Complex
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Nov 7, 2025 
Mark Taylor, President of TaylorMade Farm, shares insights on why Kentucky thrives as the thoroughbred industry's hub. Former champion jockey Richard Migliore delves into the physical and mental challenges of jockey life. Emily Plant, a thoroughbred researcher, discusses the intricacies of high-end breeding practices and the economics of stud fees. The trio explores the transparency of horse auctions, modern breeding technology, and the impact of immigrant workers on the backstretch, painting a vivid picture of the industry's complexities.
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Early Contract Life As A Jockey
- Richard Migliore recounts signing a five-year contract at 15 and earning about $100 a week while living in a tack room.
- He later bought out the contract as it inhibited his career despite the early opportunities it provided.
Eat For Energy, Not Pleasure
- Manage diet deliberately as a jockey: eat for energy, not enjoyment, to sustain career longevity.
- Focus on nutrient-dense foods and electrolytes rather than caloric indulgence during the season.
Purses Drive Jockey Income
- Jockey pay mixes flat mount fees with a share of purse percentages, making percentages the main income driver.
- Winning and mount volume matter far more than the flat per-ride fee for career earnings.