The olympics are a waste of money and time because it is 3 hundred million dollars. This is too much. Lots of people get sad if they don't get in and there team didn't win. Lots of people get hurt either if they are an athlete and fall over or if they are an audience member and get a virus. Clearly the Olympics are a waste of time and we should not have them.
The Olympics serve a purpose for a lot of reasons. It is a good faith effort by all the countries of the world to come together for something positive. This is rarely done in any platform other than sports. Another positive to the Olympics is the financial impact to the host cities and countries.
The Olympics is a time where many countries send the best of the best to compete against people from other countries. Even though it is a competition, it always seems to bring the world together, even if just for the short period of time every two years. For that reason alone they are not a waste of time.