In the skies above our heads, humanity’s titanic geopolitical superpowers are yet again duking it out for supremacy among the stars. Only this time, unlike the 1960s, there’s three of them. Or is there? It’s complicated. Join us today as we helmet up and examine the new space race unfolding right now between the US, China and Russia.
What you might call the oldschool or ‘classic’ space race started in the 1950s, peaked during the 60s, and petered out by the mid 70s. It was, to be sure, an unofficial race. Nobody waved a novelty green flag to set things off. But the two largest economic and technological powers of the day – the United States of America and the Soviet Union – fought bitterly to be the first to make meaningful headway into the cosmos.
A year into the coronavirus pandemic, many schools are only partially open for fear they could fuel the spread of the virus. Experts explain what the actual risks are for spreading Covid-19 in schools and how proper controls can change that equation. Illustration: Preston Jessee for The Wall Street Journal
Water is fundamental to life, yet it’s also a scarce commodity. In many cases, greed and mismanagement are causing this life-giving essential to run dry. What happens when water is monetized? From Australia to California, from New York to London and Brussels, this investigative documentary tells the story of the global struggle over water.
Following rushes to secure gold and oil, the age of the water rush is now here. As well as growing populations and expanding agriculture, there are the problems of environmental degradation and climate change. Global demand for water is skyrocketing. By 2050, at least one in four people will live in a country with a chronic water shortage. The situation has awakened the greed of giant financial institutions, which are going on the offensive, investing billions in the sector. Goldman Sachs, HSBC, UBS, Allianz, Deutsche Bank and BNP are among those pouncing on the commodity known as “blue gold.”
But can fresh water really be considered a commodity on par with oil, coal or wheat? Should the players in these markets – banks and investment funds – be allowed to bet on the value of water? Will concern for profits undermine water’s essential function? Or should this precious resource be declared off-limits to financial speculators? A battle has broken out between those who advocate the monetization of water, and those who defend it as a human right. It’s a battle being fought on many fronts: ideological, political, environmental and, of course, economic. And the fate of the nearly ten billion inhabitants of our planet hinges on its outcome.
Tesla’s gigafactory and Apple’s second-largest campus aren’t the only big businesses coming to Texas. From Oracle to Hewlett Packard Enterprise, Elon Musk to Joe Rogan, Texas has lured an increasing number of big businesses and billionaires away from California since the pandemic began. While California’s population and job growth both slowed to a trickle, Texas added more residents than any other state in 2020. CNBC talks to those moving and longtime Texans about the reasons behind the trend and what it could mean for the future of the Lone Star State.
It’s hard to think of a bigger restaurant success story over the last decade than Shake Shack. The high-end burger chain began as a hot dog cart in 2001 in New York City’s Madison Square Park by famed restaurateur Danny Meyer. The menu was handwritten written by Meyer on a single sheet of paper in about 10 minutes and is about 85 percent the same today.
But there’s so much more to this story. Like for three years after 9/11 that hot dog cart paid the bills at the crown jewel of Meyer’s restaurant empire, Eleven Madison Park. Or how he wasted over a million developing a line of French fries only to throw them away out of pure pride. If Danny Meyer is the heart and soul of Shake Shack, its longtime CEO Randy Garutti is the engine that powers it. Here’s how they built Shake Shack.
Following the GameStop trading frenzy, the SEC is expected to take a fresh look at payment for order flow, a decades-old practice that’s at the heart of how commission-free trading works. WSJ explains what it is, and why critics say it’s bad for investors. Illustration: Jacob Reynolds/WSJ
Israel is allowing vaccinated citizens to access gyms, restaurants and live concerts. As the country races to immunize all adults against Covid-19 and reopen fully, it is even offering free drinks and pizza to entice those who are hesitant to get the shot. Photo: Tamir Elterman
The pandemic has upended the way people buy—online retail has soared as high-street shops and malls close. Brands are now racing to exploit one of the most important weapons in the battle for buyers: their customers’ data.
As Tesla looks to expand to new markets, rumors are circulating that India could be next. While the 5th largest auto market could be big for the ev manufacturer, it’s filled with challenges and increasing competition.
There is an electric vehicle revolution sweeping the world, but India is lagging behind. Elon Musk has said that Tesla will enter India this year, but it’s not clear if that will actually happen. On January 8th, Tesla took its first step towards launching in the country, registering Tesla Motors India and Energy Private Limited in Bengaluru.
But when Tesla does eventually come to India, it won’t be easy. The electric vehicle industry is in its infant stages there, lacking much of the infrastructure needed for widespread adoption. And the most popular vehicles are motorcycles, rickshaws and budget passenger cars. Watch the video to find out what Tesla will be up against in India.
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