Perspectives

During my trip to San Francisco for one of the world's largest tech conferences, I brought along two extraordinary books to read. Although they are quite different, both share a strong focus on innovation and its impact on the economy. Carlota Perez and Peter Thiel are rarely read together, yet they converge on a powerful idea: technological revolutions do not reward intelligence alone—they reward those who control how intelligence becomes productive. San Francisco, Fisherma

At World Economic Forum at Davos this year, AI was everywhere. But AI wasn’t the main character. Capital was. (AI Generated) Across sessions, whether the topic was AGI, geopolitics, markets, or humanity, the same chain kept reappearing, sometimes explicitly, often indirectly: AI is changing everything. AI needs compute. Compute needs energy. Energy needs infrastructure. Infrastructure needs capital. And capital, unlike narratives, has constraints. What struck me most was not