The Damage Function In the 1990s, Nobel Prize-winning economist William Nordhaus calculated that a 3°C rise in temperatures would lower global GDP by more than 2%. But new research suggests much more dramatic numbers. Testing Temperature A mere 1°C additional rise in temperature could already amount to as much as a 12% loss in global…Read more
Triumphant Returns A common plot device in books, movies and video games is that of failure and difficulty. The protagonist often runs into an obstacle that they initially can’t get past. They spend time developing and working out their issues, before eventually overcoming their challenge. S&P 500 companies went through such a struggle a year…Read more
Digital Gold Rush If you think AI is just a fad, think again:. Last week, NVIDIA (NVDA), poster child of the industry, reported an astounding $26 billion in revenue for the previous quarter, pushing its stock price above $1,000. NVIDIA, which makes chips that are essential for AI, brought in $14.9 billion in net income,…Read more
