The Alaskan and Klondike Gold Rushes of the late 19th century captured the world’s imagination with tales of adventure and instant riches. But Russia’s Siberian gold discovery tells a markedly different story. This “gold rush that wasn’t” highlights the stark contrast between two approaches to gold discovery. The Siberian Discovery In 1827, two wealthy Russian… Continue Reading
Capitalism, supercharged by artificial intelligence, is reaching an unprecedented inflection point. The ultimate merger of wealth and technology is giving rise to a new form of elitism – one in which the rich, enabled by AI, no longer need the rest of humanity. The result is not class struggle, but the elimination of class itself… Continue Reading
In the realm of venture capital, AI startups are “defying gravity” when it comes to company valuation. Despite a broader contraction in the venture investing market, these companies are raising astronomical sums at jaw-dropping valuations, often before generating any revenue, let alone showing profitability. The Unprecedented Rise AI startups are securing funding rounds that would… Continue Reading
You may have noticed that major energy producers Saudi Arabia, UAE and Iran have joined BRICS or plan to do so. The block already includes two of the world’s largest economies China and India. Add to this the global heavy weights in the energy sector and the block’s power appears to be growing apace. Now,… Continue Reading
For those contemplating the sale of their assets there is a historic lesson to learn. The 1867 sale of Alaska by Russia to the United States for $7.2 million or about two cents per acre, has long been regarded as a historic bargain. But it also highlights how Russia undervalued the territory’s immense potential. At… Continue Reading
You may have heard the term “crony capitalism”. What’s in the name? Well, crony capitalism is all about very cozy and close relationships between big business and big government. As such it flies in the face of free and open markets in several ways: Lopsided Competition Importantly, crony capitalism creates an uneven playing field where… Continue Reading
Money printing is a monetary policy tool used by the US Federal Reserve (the Fed) to stimulate the economy. While it can provide short-term economic relief, it has long-term consequences that can erode the value of the US dollar. Here’s how: Increased Money Supply When the Federal Reserve prints money, it increases the overall money… Continue Reading
The US dollar, commonly known as the “greenback,” holds a unique and influential position in the global economy. Today it is the world’s primary reserve currency. As such it serves as the dominant medium of exchange in international trade and finance. So what are the history, reasons, and implications of the US dollar’s status as… Continue Reading
In business, meetings of decision makers are often seen as valuable networking opportunities and sources of valuable insights. However, not all gatherings are created equal, and the Davos meeting of elites is a prime example. Perhaps larger corporations may find such events useful. But gatherings of this kind often prove to be irrelevant for small… Continue Reading