JP Morgan commodities team writing what many of us have been thinking: “For the first time since the start of the Iran conflict, we don’t have a baseline view. We simply don’t know how to model the endgame.” I've asked the most informed energy people on the planet one question and no one has an answer..."how does this end?"

The longer you look at this farewell party, the more insulting it gets.

Jacob is correct here—we really do earnestly believe AI could kill all humans! I personally think it is >10% within the next decade. I believe Anthropic is trying its best, but we do not yet have a plan to solve alignment for superintelligence and are not clearly on track to.

To all the people who grew up without internet, how did you deal with boredom at home?

An engineer that built this 400m-running humanoid robot explained the wild form: ▫️initially designed it with human arm swing ▫️but swinging arms too much put heavy load on shoulder joints, led to overheating (and robot couldn’t finish 400m) ▫️robot invented the new running style on its own (hands held up near face to reduce shoulder load while legs could keep trucking) ▫️per Global Times, “in a simulated learning environment…the team gave the robot continuous rewards, and through repeated iteration on the data it gradually settled into a posture that suited it better.” *** Full read here (fascinating): globaltimes.cn/page/202608/1…

Roughly 15 years ago, Italy proved too big to fail. It took an Italian promising “whatever it takes” to keep the Eurozone and the euro together. Today, investors demand a higher yield from France than from Italy. How long until we hear “quoi qu’il en coûte”, the French version of “whatever it takes”, accompanied by massive ECB intervention to keep the Eurozone from falling apart? And yet some still believe the euro could replace the dollar as the world’s reserve currency. The euro will NOT be the next global reserve currency.

Sweden’s got some seriously cool properties, like this private island for $390k 5 rooms, sauna, guest house, own jetty, 1.5km to city center. Just don’t expect much of a tan.

Amigos argentinos — quiero mostrarles una de las tradiciones más extraordinarias de Portugal que casi nadie conoce fuera de Europa. 🇵🇹🇦🇷 El Desfile de la Mordomia de Viana do Castelo. Y ayer — 19 de agosto — volvió a ocurrir. Mil mujeres. De Portugal y de más de 10 países. Desde los 14 hasta los 83 años. Desfilando por las calles de Viana do Castelo con los trajes tradicionales — bordados, coloridos, perfectos — y con kilos de oro de familia colgando al pecho. Oro real. Oro heredado de madres, de abuelas, de bisabuelas. Joyas que tienen décadas, a veces siglos, de historia familiar. El desfile es conocido como la mayor vitrina de oro espontánea al aire libre del mundo. En una edición se estimó que las participantes llevaban más de 94 millones de euros en oro entre todas. 94 millones. Al pecho. Desfilando por la calle. Y las mil plazas se agotaron en dos días. Esto es Portugal. Un país de casi 1.200 años que conserva tradiciones que hacen que el tiempo se detenga. Que las hijas desfilan con el oro de sus madres. Que las nietas llevan el traje de sus abuelas. Que una ciudad entera para para ver pasar la historia viva de un pueblo. Amo Portugal con todo lo que soy. Y amo Argentina con todo lo que tengo. Dos países extraordinarios. Dos pueblos que saben quiénes son. 🙏🇵🇹🇦🇷 ¡VIVA PORTUGAL! ¡VIVA ARGENTINA! 🦁⚡️🇵🇹🇦🇷 #Portugal #Viana #Tradición #VivaPortugal #VivaArgentina