Musk and Altman
Wednesday, February 12th, 2025
World Events — German Businesses Are Suffering From Red Tape
The Economists
German businesses are currently grappling with a multitude of challenges, primarily driven by high costs and suffocating red tape, leading to widespread pessimism among business leaders regarding the upcoming election's potential to enact meaningful change. The manufacturing sector has experienced a significant downturn, with industrial output declining by approximately 10% over the past two years and major players like Volkswagen reducing their production footprint within the country. Executives across various industries voice concerns about specific issues, including burdensome regulations like the supply chain monitoring law, elevated energy expenses compounded by measures such as the Gasumlage, and the absence of reforms in critical areas like the public pension system. While Friedrich Merz, leader of the CDU and the likely next chancellor, has promised to address these concerns through measures like corporate tax cuts and bureaucratic streamlining, skepticism persists among business leaders due to the anticipated coalition government structure, which is expected to complicate and potentially dilute the implementation of business-friendly policies. Consequently, the future of German industry hangs in the balance as the country approaches its election, with many viewing the outcome as a pivotal moment that will determine its economic trajectory for years to come.
Tech — Musk and Altman
The Economists
Elon Musk’s unsolicited $97 billion bid to acquire OpenAI’s nonprofit arm has intensified his feud with Sam Altman, OpenAI’s CEO, and complicated the company’s transition to a for-profit structure. Musk, a co-founder of OpenAI who left in 2018, claims the shift betrays the organization’s original mission of developing AI for humanity's benefit, though critics see his offer as an attempt to hinder OpenAI, a rival to his own AI company, xAI. Altman swiftly rejected the bid, mocking Musk on social media and reaffirming that OpenAI is not for sale. The offer, however, pressures OpenAI to justify its valuation as it negotiates raising $40 billion from investors like SoftBank. Musk’s tactics also include urging legal scrutiny of OpenAI’s restructuring, potentially complicating its plans to allocate equity between its nonprofit and for-profit entities. This latest clash underscores the personal and professional rivalry between Musk and Altman, with broader implications for the competitive landscape of artificial intelligence.
Business — BP is Underperforming
The Economists
BP’s struggles to balance profitability with its green ambitions came into sharp focus with its latest earnings report, revealing a 61% drop in fourth-quarter profits and a decline in annual profits from $13.8 billion in 2023 to $8.9 billion in 2024, driven by lower oil prices, shrinking refining margins, and costly low-carbon investments. The dismal financial results have intensified shareholder frustration, further fueled by reports that activist hedge fund Elliott Investment Management has taken a significant stake in BP, potentially pushing for a strategic overhaul prioritizing financial returns over renewable energy initiatives. CEO Murray Auchincloss has promised a “fundamental reset” of BP’s strategy, with analysts speculating that the company may follow Shell’s lead by scaling back underperforming green projects and focusing on lucrative hydrocarbon assets. Some even suggest that BP could consider listing in New York to tap into higher valuations enjoyed by U.S. oil majors like ExxonMobil and Chevron. With half of its profits already derived from American operations, BP’s evolution from a British oil giant into a more U.S.-centric enterprise seems increasingly plausible as it grapples with its identity and future direction.
Health — A Loving, Lasting Friendship
Very Well Mind
Lasting friendships rely on the establishment and maintenance of clear boundaries, which foster mutual respect, empathy, and trust between friends. Setting boundaries involves communicating one's needs and expectations in the relationship, such as expressing discomfort with certain actions or designating specific topics as off-limits, while also being receptive to and honoring the boundaries of others. When boundaries are respected, friendships are strengthened; however, violations can lead to hurt feelings and potentially irreparable damage. Open communication, active listening, and the use of "I statements" are effective strategies for defining and reinforcing boundaries, ensuring that both individuals feel valued and understood within the friendship.
Lunch Time — Zesty Tuna Sandwich
This tuna sandwich offers a protein-packed twist with the addition of chickpeas, some of which are mashed to improve the texture and bind the filling. Garlic and Sriracha provide a zesty heat, though you can substitute your favorite hot sauce or omit it for a gentler flavor.
Eating Well
Song Rec — Daisy (Wave to Earth)
Quote of the Day
No live organism can continue for long to exist sanely under conditions of absolute reality; even larks and katydids are supposed, by some, to dream. Hill House, not sane, stood by itself against its hills, holding darkness within; it had stood so for eighty years and might stand for eighty more. Within, walls continued upright, bricks met neatly, floors were firm, and doors were sensibly shut; silence lay steadily against the wood and stone of Hill House, and whatever walked there, walked alone. — Shirley Jackson, The Haunting of Hill House