ITK Daily | March 21
Sahel, 7 States, HP, Eminem, Olympics, plus 1,000 more actionable insights.
ITK Daily is geopolitical business news + intelligence for comms pros.
Always Be Communicating.
Happy Thursday.
Here’s today’s ITK Daily:
*** Ross Rant ***
The Commanding Heights: How Lenin, Hayek, and Keynes can help us navigate the struggle for economic supremacy in 2024
The early 20th century was a period of unprecedented global upheaval and ideological battles.
The devastation of two World Wars, the rise of Communism, and the Great Depression shattered long-held beliefs in capitalism's inherent stability. In this time of upheaval, the very concept of the "Commanding Heights"—critical economic sectors deemed essential for national power—became a central point of conflict between competing economic philosophies.
Full post - click here.
*** Globalization + Geopolitics ***
Bloomberg: Finland is happiest nation again, But US slides down the ranking
+ Finland was crowned the world’s happiest country for the seventh consecutive year in the global life-satisfaction rankings, but a drop in living standards among young Americans meant the world’s biggest economy fell outside the top 20 for the first time.
+ Denmark and Iceland remained second and third, respectively, in The World Happiness Report unveiled on Wednesday by the United Nations Sustainable Development Solutions Network. The US fell to 23rd from 15th, “driven by a large drop in the wellbeing of Americans under 30,” the report said.
WP: Ukraine races to build weapons at home
Biden’s man vows more help coming for Ukraine despite US gridlock: Politico reports in a surprise visit to Kyiv, US President Joe Biden’s National Security Adviser Jake Sullivan urged Ukraine to believe in the US and expressed confidence Congress will vote for supplemental aid.
Reuters: Russia warns United States: use of SpaceX for spying makes its satellites a target
US will pitch Gaza-Egypt border security plan in lieu of Rafah offensive: Politico reports the proposal will be one of many US officials will suggest to an Israeli delegation expected next week.
Israel: House Republicans are considering inviting Israeli Prime Minister Benjamin Netanyahu to address Congress
Leo Varadkar unexpectedly resigned as Taoiseach and Fine Gael leader, saying: ‘I don’t feel I’m the best person for the job any more.’
Ireland’s prime minister calls it quits in surprise move: WSJ reports Leo Varadkar has been prime minister on and off since 2017 but says it is time to go as his party lags behind in the polls.
UK votes: Just 45% of Conservative voters believe Rishi Sunak should lead the party into the next election.
Marine Le Pen's delicate approach to the international affairs: While the far-right leader wants to be seen as the future French president, she has kept a low profile on current international issues – particularly Ukraine and Gaza – and has struggled to forge foreign connections. Le Monde
The European Union will allow SpaceX to launch its satellites from the continent.
Bloomberg: Web traffic bounces from Angola to Brazil and back to dodge West Africa fault
+ Subsea cable repairs expected to take at least three weeks
+ Cables off western coast may have been damaged in landslide
The Cold War returns to the Sahel: The decision of Niger's ruling junta to demand the immediate withdrawal of US troops from the country marks the country's will for a genuine reversal of alliance, with Niamey now an ally of Moscow. Le Monde
Bloomberg: Venture capital inflows to African startups drop 31%
+ Flows decline to $4.5 billion as foreign investors flee
+ Number of deals drop 31% to 545, led by the finance sector
When African women are raped, where is the outrage? Maebel Gebremedhin
+ Maebel Gebremedhin is the co-founder and president of Tigray Action Committee and United Women of the Horn.
Analysis: Xi-Putin honeymoon at risk as Chinese flood into Russia: History tells of Ukrainians being exploited to counterbalance a large Chinese presence. Nikkei
How China aims to overpower the West’s technology supremacy: President Xi looks to harness AI and financially boost electric car and phone manufacturers as the US sets its sights on blacklisting Chinese companies. The Times
Vietnam's president resigns after just over a year in office: NBC News reports the government said in a statement that Vo Van Thuong had violated party rules.
AP: North Korea claims progress in developing a hypersonic missile designed to strike distant US targets
Taiwan warns of 'enormous' Chinese bases near its S. China Sea holding: Reuters reports Taiwan's foreign minister said on Wednesday that China has built "enormous" military bases on three islands surrounding Taiwan's main holding in the South China Sea, but Taipei is not looking to further escalate tensions in the strategic waterway.
Britain and US race to expand Pacific defense pact before election turmoil: Japan and Canada could join AUKUS before the end of 2024. Politico
Nikkei: Prabowo officially elected as Indonesia's next president, calls for unity
Bloomberg: Bitcoin is trumping dollars for many inflation-weary Argentines
+ Argentines’ Bitcoin demand rises to highest level in 20 months
+ Stronger peso in parallel markets discouragees dollar savings
Canada: Former PM Brian Mulroney's state funeral will take place in Montreal on Saturday.
US-backed plan for Haiti provides guidance but few details: Politico reports it is already garnering critics among Republicans and Haiti advocates, who say it won’t help the nation quell powerful gangs.
*** US Politics + Elections ***
The 2024 presidential election comes down to only seven states: Why the candidates will talk about cars (Michigan) and water (Arizona). Karl Rove
Biden won the endorsement of the United Steelworkers.
Liz Cheney still plans to make a difference in the election David Ignatius
The Trumpification of Kristi Noem: The South Dakota governor’s new teeth are just the latest step in a very MAGA makeover. NYT
CNBC: Behind Trump’s campaign cash crunch: Small-dollar donor fatigue, major donor hesitation
+ The decline in small-dollar contributors could be a significant obstacle, as the former president seeks to cobble together a 2024 war chest.
+ Small-dollar donors are critical to Trump’s ability to raise enough money to fund his presidential campaign.
Why no one will lend to Trump: The Republican candidate’s financial difficulties pose risks for America as well as for himself. Edward Luce
Biden’s EPA gives automakers more leeway to phase out gas-engine cars: WSJ reports EPA’s rules for tailpipe emissions—while the most stringent ever—allow for more time to comply as the market for electric cars evolves.
Biden administration announces rule aimed at expanding electric vehicles: NYT reports the regulation would require automakers to sell more electric vehicles and hybrids by gradually tightening limits on tailpipe pollution.
Biden’s EV mandate blows its cover: The EPA’s new tailpipe emissions rule is a plan to eliminate gas-powered cars. WSJ - Editorial
AZ chips: President Biden announced $20 billion in grants and loans for Intel to expand its semiconductor production in Arizona.
AI is super-charging surveillance tech, and civil rights activists are not happy.
US SEC fines two investment advisers over AI claims: Reuters reports Toronto-based Delphia Inc and San Francisco-based Global Predictions Inc, which did not admit or deny the SEC's charges, agreed to pay a combined $400,000 in fines to settle the civil charges related to "AI washing," the SEC said in a statement.
Gary Gensler warned the Politico Tech podcast that AI could crash markets.
The FAA is working with SpaceX to transition from individual launch approvals to a portfolio of launches.
TikTok is taking a page from the Uber playbook: The app is turning its users into lobbyists of sorts. Slate
*** Disruption + Innovation ***
Amazon will release more than 70 new titles on its Indian streaming platforms in the coming years.
WSJ: Apollo offers $11 billion for Paramount’s Hollywood studio
Sam Bankman-Fried said US prosecutors’ proposal to put him in prison for as long as 50 years paints him as a “depraved super-villain.”
Bloomberg: Apple CEO arrives in China touting its role as iPhone base
+ No supply chain more critical to Apple than China, Cook says
+ Apple CEO’s vote of confidence comes before new Shanghai store opening
Intel is planning a $100 billion spending spree across four states to build and expand factories after securing $19.5 billion in federal grants and loans. The centerpiece of Intel's five-year spending plan is turning empty fields near Columbus, Ohio, into "the largest AI chip manufacturing site in the world."
Reuters: Astera Labs seeks to raise around $713 mln in IPO at $5.5 bln valuation
Bloomberg: Micron soars after AI growth helps bolster revenue forecast
+ Sales outlook far exceeds what analysts were estimating
+ Micron is one of ‘biggest beneficiaries’ of AI boom, CEO says
Novo Foundation, Nvidia team up to build Danish AI supercomputer: Bloomberg reports researchers from Denmark’s public and private sectors will be able to use the computer, which will run on Nvidia’s artificial intelligence technology and will be one of the world’s most powerful machines, according to a statement.
Bloomberg: Google deepens AI push into health care with Fitbit, screenings
Facebook’s algorithm is boosting egregious AI spam.
Is Microsoft building an unassailable lead in AI? Hiring Mustafa Suleyman, the DeepMind co-founder, is a coup for the tech giant’s ambitions. But regulators may be skeptical. DealBook
OpenAI sprinting to keep up with startups on AI-generated video: Software that can create convincing video from text prompts is progressing fast, raising questions about disinformation as well as the economics of AI. Bloomberg
Insider threats are AI developers next hurdle: Axios reports AI developers hiring quickly to keep pace with market demand are struggling with a new threat: spies and employees looking to steal company secrets.
If you’re an AI bull, keep an eye on uranium: The future depends on our ability to generate a lot more electricity. Merryn Somerset Webb
Reddit said to price IPO at $34 a share, in a positive sign for tech: NYT reports the social media company raised $748 million in the offering. Its shares begin trading on the New York Stock Exchange on Thursday.
Bloomberg: HP is turning printers into a subscription
Oil executives cast doubt on future of hydrogen: Politico reports the heads of Exxon Mobil, Saudi Aramco and global trading company Gunvor all said the high cost of producing clean hydrogen was preventing it from displacing oil and natural gas.
How Hertz’s bets on Tesla and a Goldman veteran veered off course: Private equity-backed car rental group is struggling as US drivers shun electric vehicles. FT
An empire divided: The inside story of how GE CEO Larry Culp dismantled a 131-year-old American giant. Bloomberg
*** Culture ***
Artists who use AI are more productive but less original: An analysis of work posted on a popular art-sharing website finds that users who adopted generative artificial intelligence tools increased their output, but saw a drop in novelty. NewScientist
Eminem releasing new album in 2024.
*** Sport ***
IOC President Thomas Bach: 'The Russian government's aggressiveness is growing by the day': In an interview with Le Monde, the president of the International Olympic Committee discusses Paris's readiness for the Olympics, the decision on whether to allow Russian athletes to compete, and what comes after his second term. Le Monde
Enjoy the ride + plan accordingly.
-Marc
ITK Daily | March 21
