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Norway's Sovereign Wealth Fund: A Petrodollar Powerhouse

2025-02-01

After claiming sovereignty over the Norwegian Continental Shelf in 1963, Norway discovered vast oil reserves. In 1990, the Government Petroleum Fund was established to invest this wealth in a diverse portfolio of assets. Today, this fund is the world's largest sovereign wealth fund, boasting over $1.78 trillion in assets – equivalent to over $319,900 per Norwegian citizen. While equities constitute the majority of the fund's value, Norges Bank Investment Management (NBIM) has increasingly allocated capital to renewable energy infrastructure. Ironically, Norway's ambitious green transition, including its near-complete shift to electric vehicles, is fueled by trillions in petrodollars.

OpenAI: The Next Visa? Challenges and Risks on the Path to Monopoly

2024-12-26

The article compares OpenAI to Visa, arguing its success isn't due to superior technology but to erecting barriers through exclusive deals, government contracts, and licensing restrictions to limit competition. OpenAI attempts to build these barriers by lobbying for government regulation, restricting investors from funding competitors, and securing long-term exclusive contracts with large clients. However, this strategy faces political and competitive headwinds. Similar to Visa's past challenges, the increasing ubiquity of LLM technology threatens the core API business. Competition from Elon Musk and potential relaxation of government regulation further complicate OpenAI's efforts to maintain its dominance. Ultimately, OpenAI's future hinges on whether it can build sufficiently high barriers to entry, both technologically and legally, to avoid repeating Visa's antitrust lawsuit.