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  1. The Economist6 min

    Why are so many Colombians becoming mercenaries? | The Economist

    Carla Subirana Artús, Rosie Blau

    Colombia is rapidly emerging as a primary global source of mercenaries driven by a cohort of 13,000 soldiers exiting the military under President Gustavo Petro's policies combined with a lack of domestic veteran support. These former soldiers are increasingly recruited via social media to serve in high-risk foreign conflicts ranging from Sudan to Ukraine, while their deployment facilitates serious international crimes such as the assassination of Haiti's president. Although Colombia ratified the UN Anti-Mercenary Convention, experts argue that without comprehensive domestic pension reforms, the economic incentives for this growing export of armed labor will remain unchecked.

  2. The Economist16 min

    How to play chess like a grandmaster | The Economist

    Jennifer Shahade, Alok Jha

    This analysis positions chess as a rigorous framework for human cognition, illustrating how expert players balance intuitive pattern recognition with deliberative calculation across the game's three distinct phases. The discussion highlights how modern AI engines, which prioritize probabilistic outcomes over traditional material evaluation, have paradoxically driven human players toward more aggressive and creative styles rather than rendering the game obsolete. Ultimately, the enduring surge in chess popularity despite AI dominance serves as a resilient precedent for human adaptation in an increasingly automated landscape.

  3. The Economist7 min

    Finland’s president: are Europe and America’s interests still aligned?| The Economist

    Alexander Stubb, Donald Trump, David Rennie

    Recent US policy shifts driven by MAGA ideology and an "America First" pecking order have inflicted irreparable damage on transatlantic morale, despite maintaining strategic alignment on Arctic defense and containing Russian influence in Europe. While Finland has bolstered its self-reliant military with conscription and advanced weaponry, the alliance remains fragile due to lingering US control over critical assets like long-range missiles and Starlink capabilities. Bilateral cooperation continues through massive joint exercises in Northern Norway and Finnish acquisition plans, yet the relationship risks escalation if diplomatic off-ramps at venues like Davos fail to prevent trade wars or military threats over issues such as Greenland.

  4. Goldman Sachs16 min

    The New AI Trades

    Ryan Hammond, Allison Nathan

    In early 2026, software stocks suffered a 25% valuation collapse as forward earnings multiples compressed, while investors grappled with AI-driven disruption risks across sectors like legal and media. Simultaneously, five U.S. hyperscalers are projected to spend $660 billion on capital expenditures this year, a surge consuming 90% of their operating cash flows that has forced reduced buybacks and increased debt reliance. Amidst these headwinds, Goldman Sachs forecasts an S&P 500 recovery driven primarily by 12% fourth-quarter earnings growth and a market rotation toward cyclical sectors rather than AI-centric leaders.

  5. 20VC with Harry Stebbings16 min

    The Ruthless Sales Culture Behind ElevenLabs Growth | Carles Reina

    Carles Reina, Harry Stebbings

    11 Labs enforces an aggressive sales culture by setting quotas at 20 times base salary, a structure that has driven an 80% success rate over two and a half years while distinguishing itself through a dual-compensation model that aligns Account Executives and Customer Success Managers on retention. Leadership maintains this high-performance environment through mandatory remote pipeline reviews, ruthless public accountability for missed targets, and a strategic pivot from inbound reliance to a 40% outbound sales mix. The organization manages turnover by terminating underperformers with severance while retaining long-cycle sellers, ultimately fostering a remote-first team that prioritizes autonomous, road-warrior execution.

  6. The Economist6 min

    How to protect your investments from an AI bubble | The Economist

    Joshua Roberts, Rosie Blau

    Investor sentiment regarding artificial intelligence has shifted from optimism to apprehension as analysts draw parallels between current valuations and historical technology bubbles where share prices vastly outpaced earnings. While traditional hedges like bonds and gold have proven unreliable during recent market turbulence, experts highlight high-dividend and low-volatility equities as more effective defensive strategies. Ultimately, the prevailing consensus advises against timing exits during downturns, reinforcing a long-term "buy and hold" approach as the most robust method for navigating potential market corrections.

  7. The Economist9 min

    Is Takaichi Sanae the most powerful woman in the world? | The Economist

    Takaichi Sanae

    Sanae Takaichi became Japan's first female Prime Minister after securing an unprecedented LDP majority, launching an aggressive push to expand defense spending to 2% of GDP and revise the constitution to formalize military status. Her administration has explicitly abandoned strategic ambiguity by asserting that a Chinese attack on Taiwan constitutes a threat to Japan's essential interests, a move that triggered severe diplomatic retaliation and a tourism ban from Beijing. This hardened security posture aims to counter China's rapid military expansion and reduce reliance on the US alliance, though it creates significant domestic and international hurdles for her constitutional revision agenda.

  8. Goldman Sachs10 min

    Still Bullish on Gold

    Lina Thomas, Chris Hussey

    Competing demand from central banks and private investors is driving a self-reinforcing rally in gold prices, while Goldman Sachs forecasts a 2026 target of $5,400 based on declining Federal Reserve rates and fiscal debasement fears. The silver market is experiencing extreme volatility due to a severe liquidity squeeze in London vaults, which Goldman Sachs expects to persist despite the metal's potential as a speculative vehicle. Although geopolitical tensions are fueling broader commodity stockpiling, the firm distinguishes gold's constrained supply as superior to the scalable nature of non-precious metals like copper, which limits their capacity for a sustained super cycle.

  9. The Economist10 min

    How much tax should the rich pay? | The Economist

    Henry, Mike

    Contrary to narratives of neoliberal rollback, recent data reveals a "Robin Hood economy" in the developed world where increased government redistribution has stabilized post-tax inequality despite rising pre-tax disparities. While U.S. top earners now contribute a larger share of federal taxes as high-earning professionals rather than evaders, polling indicates a persistent public perception that their tax burden remains insufficient. This economic reality clashes with philosophical debates between Henry, who warns that fairness requires limiting taxation to preserve incentives, and Mike, who advocates targeting negative externalities and consumption rather than income or capital.

  10. Goldman Sachs13 min

    Stock Market Shakeout

    Shawn Tuteja, Chris Hussey, Sean Tatasia

    Following the most significant volatility since the onset of the COVID pandemic on February 4th, U.S. equities underwent a structural risk reduction driven by excessive long positioning rather than a fundamental market shift. Despite record shorting activity and a divergence between legacy tech and cyclical sectors, the bull market thesis remains intact supported by 11% earnings growth and strong macroeconomic indicators. Market strategists now recommend capitalizing on the recent dip by shifting focus toward the "AI productivity" phase, targeting non-technology companies like banks and retailers that leverage artificial intelligence to improve margins.

  11. The Economist10 min

    What would Kevin Warsh’s Federal Reserve look like? | The Economist

    Kevin Warsh, Zanny Minton Beddoes, Edward Carr, Henry, Zannie, Archie

    President Trump has nominated former Federal Reserve Governor Kevin Warsh as the next Chair, contingent on the White House removing a Senate blockade led by Senator Tom Tillis regarding the investigation into current Chair Jerome Powell. Warsh's proposed strategy, termed "Warshonomics," seeks to lower interest rates by coupling an anticipated AI-driven productivity surge with balance sheet contraction to offset inflationary risks, despite his historical reputation as a hawk. While experts predict Warsh will implement a slightly more dovish policy yielding one or two rate cuts, his ability to align the FOMC with President Trump's demands remains a significant governance risk complicated by potential political backlash.

  12. a16z11 min

    The Story Behind ElevenLabs | Interview with CEO Mati Staniszewski

    Mati Staniszewski, Piotr, Jennifer

    Co-founders Jacek (Marty) and Piotr launched Eleven Labs in early 2021 to pioneer the "vocal Turing test" by synthesizing AI that matches human emotion and intonation, a mission that propelled the remote-first startup from a two-person team to over 300 employees in 11 cities. The company operates under a flat, title-free hierarchy driven by "mini-founders" and high autonomy, allowing it to rapidly scale its proprietary research into multimodal products like Voice Design V3 and Studio 3.0. By integrating direct product feedback loops with raw audio training, Eleven Labs aims to establish voice as the primary computer interface that transcends language barriers and delivers genuine emotional connection.

  13. Goldman Sachs10 min

    Finding Opportunities in Financials

    Christian DeGrasse, Chris Hussey

    Recent earnings revisions and a widening yield curve have driven upward momentum for large and regional banks, supported by improved loan growth and resilient consumer credit quality. Despite a recent sell-off in technology and private credit sectors, analysts view the financial industry as undervalued with positive catalysts expected from upcoming regulatory clarifications and AI-driven operational efficiencies. Looking ahead to 2026, the sector is projected to modestly outperform, although investors remain cautious about potential macro risks such as rising unemployment and soft pricing in the property and casualty insurance market.

  14. The Economist8 min

    Why are so many people joining cults? | The Economist

    Carla Subirana Artús, Rosie Blau

    Contemporary cults have evolved into fragmented digital networks that exploit online isolation to recruit vulnerable individuals through disguised wellness communities and gaming platforms like Roblox. These groups enforce control via charismatic leaders and algorithmic reinforcement, resulting in rising global reports of financial exploitation and physical abuse. While nations like France have criminalized psychological manipulation, experts argue that societal education remains the most effective defense against these rapidly scaling threats.

  15. Goldman Sachs16 min

    Poppi Founders: Disrupting the Beverage Industry

    Stephen Ellsworth, Vanya Kasanof, Allison

    Founders Allison and Steven transformed their apple cider vinegar discovery into Poppy, a modern soda brand that leveraged aggressive marketing tactics like a record-breaking Super Bowl campaign and strategic Amazon launches to bypass traditional industry barriers. Prioritizing long-term brand awareness and cultural agility over immediate sales metrics, the team executed rapid product iterations and viral content strategies that ultimately drove the company toward a two-year acquisition by Pepsi. This sale secured the distribution scale necessary to fulfill the founders' mission of revolutionizing soda consumption, successfully transitioning the brand from a niche startup to a mainstream competitor for the next generation.