When Theory Becomes Reality Stunning capabilities are emerging from large language models like GPT 4 that, until very recently, were thought to be only theoretical. We could never have the data sets or the processing power to generate real and usable results. Well, all that has changed — rather suddenly. …

In this video, I present the case for optimism. Isolationism, fragmentation, and pessimism always fail. Globalization has been everyone’s favorite punching bag for a while. It is hard to feel optimistic about its prospects. However, globalization has a better future. Cooperation, integration, and comparative advantage win in the end. It is time to be optimistic once again.

Artificial intelligence is disruptive and transformational — when applied within narrow and specific parameters. But it is not intelligence.

Our most challenging problems cannot be solved simply with behavior modification, conservation, or even existing technology. Only new, innovative solutions can address our most difficult challenges. Basic scientific discovery, enterprise-based innovation, commercial discipline, and competition are the only viable solutions. Innovation, creativity, and competitive dynamics create the most effective innovations, the best solutions, and the most sustainable companies.

Margin Call versus The Big Fix People are analyzing Silicon Valley Bank’s failure as a simple mismatching of cash flows and obligations. Silicon Valley Bank had long-term debt paying low fixed rates, and as their funding cost rose, they were losing money. Then, when companies needed additional liquidity, they had…

Nicholas Mitsakos Artificial General Intelligence Is a False Promise Artificial intelligence is disrupting all software and services — when applied within narrow and specific parameters. It performs useful tasks and provides meaningful information for decision-makers but within well-defined data sets. AI still has significant limitations, and large language artificial general…

Hydrogen While electric vehicles get most of the headlines, EVs are questionable “green” solutions, at best. Advancements in hydrogen and geothermal energy are creating more promising and impactful alternative energy strategies. In Germany large-scale production of green hydrogen (a clean substance using electricity to split water into oxygen and hydrogen)…

The Case for Optimism Isolationism, fragmentation, and pessimism always fail. In 1930, as global economies began to suffer, economic pessimism permeated the world and led to a spiral of protectionism, disintegrating trade, political isolation, and ultimately global destruction. John Maynard Keynes presciently said, “we are suffering from a bad attack…

New Thinking, Intractable Problems, and Existential Crises Our most intractable problems cannot be solved with behavior modification, conservation, or our existing technology, regardless of its advanced or widespread applications. Only new knowledge creating innovative solutions can address our most intractable problems. This can only be achieved through basic scientific discoveries…