AI’s Next Bottleneck is Plumbing
Everyone’s watching chips and power. Almost no one is watching the optical shifts that insiders are scrambling to solve. That’s about to change.
Death of the Petrodollar
Death of the Petrodollar
Iran is offering Hormuz passage in exchange for yuan settlement. This could be the wedge that splits the world’s financial system in two.
An Era of ‘Cheap War’
An Era of ‘Cheap War’
Drones are reshaping warfare. And the economics of shooting them down don’t add up. Here’s one company that could change that.
Our Modern Interregnum (Pt. 4)
Our Modern Interregnum (Pt. 4)
The final part of Charlie Ormond’s meditation on our modern era. Today explores three ways our current crisis could end, and a clear investible solution.
Our Modern Interregnum (Pt. 3)
Our Modern Interregnum (Pt. 3)
Part 3 of Charlie Ormond’s meditation on our modern era. Today explores the hidden mechanism behind today’s supply shock.
Our Modern Interregnum (Pt. 2)
Our Modern Interregnum (Pt. 2)
Part 2, In Charlie Ormond’s meditation on our modern era. Today, we look at the inevitable consequences of a system that spent four decades optimising financial structures while neglecting the material ledger.
Our Modern Interregnum (Pt.1)
Our Modern Interregnum (Pt.1)
Charlie Ormond explains how the physical economy took the reins after the “Great Financialisation” period ended during the GFC.
The World on Acid
The World on Acid
A Hormuz shutdown may not just shock energy markets. It could quietly choke the global supply of sulphuric acid, and with it, copper, uranium and cobalt production.
The Thief Came Through the (Chat) Window
The Thief Came Through the (Chat) Window
AI is creating millions of new targets and millions of new attackers. The sector cleaning it all up is currently on sale.
Hormuz Shock
Hormuz Shock
Drone strikes and naval escalation threaten the world’s most important energy corridor. The second order effects could be a headache for our hopes of rate cuts in the near term.
