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On Tuesday, New York Governor Kathy Hochul signed the nation’s first statewide ban on new AI data centers. Data center development, she explained, “threatens to hike up utility bills, deplete our natural resources, and create uncertainty for New Yorkers.” Officially it’s a one-year moratorium while Albany designs a “regulatory framework.”
Hollywood is synonymous with California. It’s where the entire industry of motion pictures was born and raised for a century. The sign in the hills above Los Angeles might be the most famous advertisement on earth, and the industry built the state’s fame, its mythology, and a good part of
On July 7, Bloomberg published an article with the headline: “Gold’s Bull Market Has Ended and Now All Eyes Are on Bears,” explaining how many retail investors have headed for the exits. That same day, the People’s Bank of China, the country’s central bank, reported its largest monthly gold purchase
Washington has a comforting story about Social Security: yes, the trust fund is running out of money, but not until 2032. That leaves six more years to form the commissions, schedule the hearings, and study a problem that has been obvious for decades. But last week, a man who used
The lights went on at approximately 3pm on September 4, 1882 in New York City. Thomas Edison (with major funding from JP Morgan) had spent roughly two years building the first-ever commercial power plant, located in Manhattan’s financial district. Its total capacity was about 600 kilowatts… barely enough to power
[Editor’s note: This letter was written by Schiff Sovereign’s CEO, Viktorija] Picture the kind of life that, in the West, only the genuinely rich can afford: a full-time housekeeper who cooks and cleans, a concierge doctor you text with directly whenever you need, dinner out with friends several times each
On the afternoon of September 6, 1901, President William McKinley stood in a receiving line at the Pan-American Exposition in Buffalo, New York, shaking hands with a crowd of well-wishers. One of the people in the crowd was a young man named Leon Czolgosz… who was patiently waiting with a
Yao Tongbin was one of the most important scientists in Maoist China. He had earned a doctorate in metallurgy in England, spent three years at a research institute in West Germany, and left it all to return to China in 1957. He spent the next 11 years building China’s first-ever
In December 1916, with German and Austro-Hungarian armies closing in on Bucharest, the Romanian government made a decision that must have felt entirely sensible at the time. Romania had gambled its way into the Great War a few months earlier, sending its army across the Carpathian Mountains to grab Austro-Hungarian
There’s a reason why your next iPhone is about to get a lot more expensive: the northern long-eared bat. This species of bat is federally recognized as endangered, and it nests in a stretch of forest in upstate New York. And it’s the reason why tech companies can’t build a
[Editor’s note: This letter was written by Schiff Sovereign’s CEO, Viktorija, who is originally from Lithuania but splits her time between Mexico and Panama.] The first time I came to Panama was about 16 years ago, and I felt like someone was always yelling… either yelling at me, towards me,
It was the spring of 1982. Ronald Reagan was just over a year into his first term, and the US economy was still in pretty rough shape. Interest rates remained sky-high, inflation was still hovering around 7%, and deficits continued to rise. But even with all that despair, the US
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