Productivity rules
Source: Eric Parker on X
Norway’s massive sovereign wealth fund on Wednesday posted first-half profit of 1.48 trillion kroner ($138 billion)
It has been primarily driven by robust returns on its investments in technology stocks. The so-called Government Pension Fund Global — the world’s largest sovereign wealth fund — said it had a value of 17.75 trillion kroner at the end of June. The fund’s overall return for the six-month period was 8.6%, which was 0.04 percentage points lower than the return on its benchmark index. “The result was mainly driven by the technology stocks, due to increased demand for new solutions in artificial intelligence,” CEO Tangen said in a statement. Source: CNBC
Temu overtook eBay to become the 2nd most-visited e-commerce website in the world
Source: SimilarWeb, Juozas Kaziukėnas on X
Naval Ravikant Happiness Theory
Source: artofpoets.com
Athletes from four California universities won 89 Olympic medals. (The United States won 126 total).
Athletes from Stanford University alone won more medals than all but seven countries in the world. Source: Erik Brynjolfsson
March 22, 2000
Difficult to compare the internet bubble with the current ai mania. Source: Andrew Kuhn
BREAKING: Container shipping costs from China have spiked to their highest levels since 2022
Since the beginning of 2024, shipping rates have more than TRIPLED. It now costs ~$9,000 to ship a 40-foot container from Shanghai to New York and ~$8,000 to Los Angeles. This has been driven by a sharp drop in Suez Canal transit volume, disruptions at some ports in Asia, and demand increase due to inventory restocking. Rising shipping costs should be considered as an upside risk to inflation. Source: The Kobeissi Letter
The rich are getting richer faster than ever before
The top 40% of US income earners hold 83% of the total net worth, near an all-time record. The top 20% account for 71% of the total net worth, up 10 percentage points over the last 2 decades. On the other hand, the bottom 40% of income households hold only 8% of the wealth. Moreover, the bottom 20% of earners reflect just 3% of total US wealth. Over the last few years, the rich have gotten a lot richer. Most consumers are struggling. Source: The Kobeissi Letter, BofA
