Hotter air is thinner air, which makes it more difficult — and sometimes impossible — for planes to generate enough lift.
As the global climate changes, disruptions like these are likely to become more frequent, researchers say, potentially making air travel costlier and less predictable with a greater risk of injury to travelers from increased turbulence.
A no-fly window of even a few hours at a particular airport could have a ripple effect across airline operations while further squeezing airlines’ already tight profit margins.
This deal bought Buffett a favour from the government for upcoming infrastructure investments. He meet with PM Trudeau and Finance Minister Morneau just before this deal.
Buffett sees a Canadian house crash coming. By taking a 38% stake in a tiny bank that he can keep capitalized through a crash, this gives him a vehicle to buy some of the larger banks if/when they run into trouble. Say housing is down 50% in Canada (which is how much I think housing drops); my personal view is that CIBC is in big trouble in that scenario. BRK, through HGC, can buy CIBC. That would be a meaningful investment, and it breaks BRK into the profitable Canadian banking oligopoly. By owning 40% of HCG, perhaps Buffett can get around any foreign ownership restrictions when looking to buy some or all of a Big 6 bank.
But quantum computing — which unlike classical computing, is based on nature’s more complex operating system of quantum mechanics — will take the world by surprise. Even established veterans of the first few computing revolutions could be caught off guard, unable to foresee the jump from impressive demo to devastatingly impressive production machine. How so? Because it turns out that quantum computing has its own Moore’s law, and that law takes exponential scaling to a whole new level.
In the quantum hyperscaling Moore’s Law, the speed of a quantum computer is exponential in the number of coherent quantum elements or “qubits” — that is, 2^q. But successfully incorporating technological advances in using silicon technology would enable the qubits themselves to follow Moore’s law (q = 2^n)… making the resulting performance power of the quantum computer 2^2^n. This means that the performance of quantum computing is exponentially more rapid than Moore’s Law. It’s as if Moore’s law itself sped up like Moore’s law.
“That 20 percent is a very important number because if you look at other adoption cycles, whether it’s notebooks, smartphone penetration, the x86 server, even digital music and video games, when you get to that 20 percent penetration point, that curve inflects and growth accelerates.”
Unlike the Industrial Revolution and the computer revolution, the A.I. revolution is not taking certain jobs and replacing them with other jobs.
This transformation will result in enormous profits for the companies that develop A.I., as well as for the companies that adopt it.
The solution to the problem of mass unemployment, I suspect, will involve “service jobs of love.”
…most of the money being made from artificial intelligence will go to the United States and China. A.I. is an industry in which strength begets strength…
While a large, growing population can be an economic asset, in the age of A.I. it will be an economic liability because it will comprise mostly displaced workers, not productive ones.
…the U.S. is primarily concerned with consumer welfare, and the primary proxy is price. In other words, as long as prices do not increase — or even better, decrease — there is, by definition, no illegal behavior.
The European Commission, on the other hand, is explicitly focused on competition: monopolistic behavior is presumed to be illegal if it restricts competitors which, in the theoretical long run, hurts consumers by restricting innovation.
Market dominance is, as such, not illegal under EU antitrust rules. However, dominant companies have a special responsibility not to abuse their powerful market position by restricting competition, either in the market where they are dominant or in separate markets. Otherwise, there would be a risk that a company once dominant in one market (even if this resulted from competition on the merits) would be able to use this market power to cement/further expand its dominance, or leverage it into separate markets…
Don’t trust bank stress-test results.
Regulators should require banks to maintain higher leverage ratios, another measure of capital adequacy. And yet this is a regulatory requirement the Trump administration wants to loosen.
Don’t reach for yield if you’re not ready for the risk.