In 1993, State Street launched the SPDR S&P 500 ETF (ticker: SPY), the first exchange-traded fund in the United States, with $6.5 million in assets under management. Thirty-two years later,…
For the first time in nearly two decades, interest rates are behaving normally. The era of zero interest rate policy (ZIRP), which lasted from 2008 to 2022 with only a…
As of early 2025, seven companies — Apple, Microsoft, Alphabet, Amazon, NVIDIA, Meta and Tesla — account for approximately 32% of the S&P 500’s total market capitalisation and have been…
Bear markets are not anomalies. They are a feature of financial markets, as predictable as gravity and as unwelcome as a tax audit. Since 1928, the S&P 500 has experienced…
Deja Vu with a Twist Bitcoin entered 2024 trading around $44,000 and hit new all-time highs above $73,000 by March. By early 2025, it was trading in the $80,000-$100,000 range…
The Regulatory Trilemma AI regulation in 2025 is split into three competing philosophies: the European Union’s comprehensive, risk-based approach; the United States’ fragmented, innovation-friendly framework; and China’s state-directed, security-focused model.…
Where the Rubber Meets the Road Ten years ago, self-driving car timelines were wildly optimistic. Elon Musk promised full autonomy by 2017. General Motors said 2019. Ford said 2021. None…
Carbon, Water, and Compute Training large language models consumes staggering amounts of energy. The exact figures are closely guarded by AI companies — competitive intelligence wrapped in PR sensitivity —…
From Serendipity to Search Drug discovery has historically been a painfully slow, expensive, and failure-prone process. The average new drug takes 10-15 years and costs $1-2.6 billion to bring to…
The State of Frontier AI in 2025 The AI industry moves fast enough that writing about it risks immediate obsolescence, but here’s where things stand. OpenAI released GPT-4 in March…
