Ray Dalio argues markets trade on future cash flows, not geopolitics. Wars create winners (neutral countries), losers, and debt burdens. He sees US credibility declining, China rising via a 'tribute system', and advises investors to diversify strategically, hold gold, and value liquidity in turbulent times.

Sebastian Mallaby discusses the tension between scientific discovery and commercial profit in AI. He highlights Demis Hassabis's scientific curiosity vs. Zuckerberg's commercialism, Musk's ambition, and Altman's power drive. He warns of a 50% chance OpenAI goes bust by summer 2026 and calls for an FDA-like body for AI safety.

Hank Paulson warns the US is falling behind China in electricity generation needed for AI data centers. China invests massively in renewables and has plenty of power, while the US faces shortages and rising prices. He calls this the biggest potential drag on US AI leadership.

Whitney Tilson criticizes Mayor Mamdani's targeting of Ken Griffin with a pied-a-terre tax, arguing it's counterproductive. He says NYC has a spending problem, not a revenue problem, and needs to be more business-friendly to retain wealthy residents and jobs.

Whitney Tilson criticizes Mayor Mamdani's approach of targeting Ken Griffin with a pied-a-terre tax, arguing it's 'dumb' to paint billionaires as evil since 1% of taxpayers pay 47% of income tax. He says the city has a spending problem, not a revenue problem, and needs to be more business-friendly to retain wealthy residents and jobs.