Weekend Briefing No. 517
All Futurism Is Afrofuturism
Welcome to the weekend.
Prime Numbers
75 — A new study shows that a shocking 75% of industrial fishing vessels and up to 30% of transport and energy vessels are not tracked through conventional reporting means.
71.5 — Fidelity, a mutual fund, has disclosed that it has marked down the value of X (formerly Twitter) shares by 71.5% since Elon Musk’s acquisition, which would indicate that the company is now worth only $12.5 billion.
12 — Out of the 116 directors involved with the 100 top-grossing films of 2023, only 14 of them were women. That’s 12% of directors, up from 9% in 2022.
All Futurism Is Afrofuturism
Though overlooked now, Africa will shape the 21st century due to its expanding population and current poverty. Despite falling fertility rates, population momentum ensures Africa will be very populous by 2100, with high shares of young people, becoming a major source of global migration. Poverty means Africa has massive potential for growth and development as the last major region yet to escape subsistence living standards. Robust economic expansion is already underway and expected to continue translating gains into higher per capita incomes over time. With room to grow and booming populations, Africa's trajectory will heavily influence global dynamics, making the continent's escape from poverty essential for shared prosperity. Noahpinion (14 minutes)
Jannu’s North Face
Jannu's remote 25,295-foot north face has long challenged climbers with its combination of height, steepness and altitude. It’s known as one of the most challenging climbs on the planet. Recently, a team accomplished the first Alpine-style ascent of this route, relying on their skill rather than supplemental oxygen, fixed ropes or porters. Leading mountaineer Conrad Anker called it a generational accomplishment and "an antidote to fixed-rope, high-altitude tourism," as only the most talented dare attempt the 3,000-foot headwall that had turned back all others. While hundreds may reach Everest's summit annually, true glory awaits those with the skill and imagination to be first up Jannu's formidable north face. New York Times (10 minutes)
Bezos just deployed $53 million here — Join Him
Jeff Bezos’ recent $53 million investment — in a single piece of art — left many analysts scratching their heads. Although when you look at the losses crippling many companies in the S&P 500, it makes sense why billionaires like Bezos, Bill Gates and Steve Cohen are diversifying into alternative assets. These are like blue-chip contemporary art, which has outpaced the S&P 500 by 136% over the last 27 years, with a low correlation to stocks. For non-billionaires, investing in art is still easy, thanks to Masterworks. Their platform enables everyday investors to buy a small slice of $1-$30 multi-million paintings from icons such as Banksy and Basquiat. Masterworks buys the art and stores it, holding it for potential appreciation. When they sell it again, you get a prorated portion of any profits. It’s that simple. Masterworks is offering Weekend Briefing readers free, bespoke recommendations in their newest offerings. Click the link to skip the waitlist. Masterworks (Sponsored)
Justice Roberts on AI
Chief Justice John Roberts devoted his annual report to artificial intelligence (AI)'s promise and perils in law, urging "caution and humility" given prior technologies gone awry. While acknowledging its potential to increase access and efficiency, he noted ethical concerns such as privacy, dehumanization, due process and bias. With studies showing a "human-AI fairness gap," Roberts concluded human judgment remains essential. AI may research and streamline well but still struggles judging gray areas. Yet he welcomed properly-used AI to improve filings and match "urgent needs," predicting legal work would soon be "unimaginable without it." Though warning AI cannot replace wisdom, Roberts envisioned an augmented system if deployed carefully. New York Times (6 minutes)
AI and Energy Use
AI's ravenous electricity appetite poses a growing sustainability challenge as adoption surges globally. Experts warn that AI systems may soon require adding a small country's worth of power generation, even as the world tries to electrify and decarbonize amid climate change. While data centers' share of global electricity use has remained around 1%, AI's rapid growth threatens a sea change in internet power needs. Seeking solutions, Microsoft is using AI to hasten nuclear plant approvals and betting on fusion energy to sustainably power its systems. With AI poised to stress worldwide electricity capacity, companies are scrambling to develop green energy sources sufficient to meet AI's colossal future needs. Wall Street Journal (7 minutes)
Carbon Removal Is Hot
Sucking carbon from the sky to cool the planet once seemed far-fetched, but companies are now spending billions to make it happen. Big corporations racing to meet climate goals are buying carbon removal credits from firms promising future atmospheric carbon dioxide extraction. Purchases jumped from $333 million in January-November 2022 to $1.6 billion in the same 2023 period, per CDR.fyi data, accelerating unproven large-scale technologies. While operational hurdles remain, these investments could help neutralize hard-to-eliminate emissions, transforming carbon removal from pipe dream to climate solution. Though operational at scale, carbon removal offers hope for companies struggling to meet climate commitments yet eager to act now. Wall Street Journal (7 minutes)
New Year, New Personality
This is a funny video from the Do Not Destroy guys on “Saturday Night Live.” As they are entering the new year, they are testing out new personalities. Comedy ensues. Enjoy. SNL (3 minutes)
Should We Work Together?
Hi! I’m Kyle. This newsletter is my passion project. When I’m not writing, I run a law firm that helps startups move fast without breaking things. Most founders want a trusted legal partner, but they hate surprise legal bills. At Westaway, we take care of your startup’s legal needs for a flat, monthly fee so you can control your costs and focus on scaling your business. If you’re interested, let’s jump on a call to see if you’re a good fit for the firm. Click here to schedule a one-on-one call with me.
Founder Fridays
Check out my other email, Founder Fridays — a Friday morning briefing helping startup founders and operators scale smarter.
Weekend Wisdom
Courage is found in unlikely places. -J.R.R. Tolkien