Sometime in the near future, a significant portion of the people building today’s AI industry are expected to become very rich. Many are already thinking about what to do with that wealth. The two of us advise some of the most philanthropically motivated people in tech. These are people who genuinely want, and have the
The fact that I am writing this is a bit shocking to me. I have been indifferent to gold for a long time, and for a simple reason: it falls outside my value framework. It has no cash flows. I have no idea what it is worth. I can debate the value of Microsoft or
A graduate with a four-year degree will make nearly a million dollars more than a non-graduate over their lifetime. That gap has narrowed — in part due to growth in the returns to skilled trades – but it remains clear and massive. Earning a post-high school degree, whether an associate’s or a bachelor’s degree, is
Every wave of technological change seems to arrive with a familiar prediction: This time, jobs are going away for good. The effect of automated teller machines (ATMs) on the bank teller profession reveals a more nuanced reality. When ATMs became widespread in the 1980s, many people assumed bank tellers would soon become obsolete. They were
Asia’s energy security depends on the Strait of Hormuz, a waterway it doesn’t control, and the fallout from the return of conflict would extend well past fuel pumps. If Asia doesn’t build deeper, more liquid electricity networks now, it risks losing its slice of the AI value chain. Nearly every major Asian economy now has
At SpaceX’s market debut on June 12, the perfect trade already looked obvious. Shares priced at $135, valuing the company at roughly $1.8 trillion, and closed near $161, pushing its market capitalization above $2.1 trillion. Four days later they reached $225.64, and for one brief week the chart resembled the trajectory of one of the