Prediction markets are booming, offering bets on the next U.S. president, the Super Bowl champion, and when Taylor Swift will get married. We explore how betting markets came to be, along with their implications for markets and the general public.

The closure of the Strait of Hormuz during the 2026 Iran War underscores the enduring importance of chokepoints as geopolitical levers. But investors should not overlook a new set of less visible chokepoints, with the United States at the nexus.

Investors are smitten with chatbots, but progress in artificial intelligence does not end there. The next step is the physical instantiation of intelligence: autonomous robots. The form factor might not be what some expect, but the implication is that the world needs vastly more compute capacity.

Every AI response is a product manufactured at a token factory—a data center. Understanding how a data center works is analogous to understanding the global supply chain that underpins the AI boom. Join us as we dissect the most powerful factories humans have ever built!