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Reproduction speed has crucial implications for the overall economic growth rate. If your factory costs $100 million to build and can produce $3 million worth of widgets in a year, it will take you 33 years to regain the value of the factory. That level of productivity, 3 percent per year, has been an average for the Industrial Revolution over the past couple of centuries. (Note that if the widgets are not simply consumed, but reinvested, say, by improving the capabilities of the factory, the total value will double in 25 years instead of 33, due to the magic of compound interest.)
Where Is My Flying Car?
J. Storrs Hall
Bing’s bot claims to feel good about its business model for now. “No, I do not pay for content,” the bot says when asked about compensating publishers. “I use web search results to provide you with relevant and useful information. 😊”
News Publishers Are Wary of the Bing Chatbot’s Media Diet
wired.com
Stripe Inc. is teaming up with banks including Goldman Sachs Group Inc. GS -0.01%decrease; red down pointing triangle and Citigroup Inc. to offer checking accounts and other business-banking services, the startup’s latest attempt to become the internet economy’s financial supermarket.
WSJ News Exclusive | Stripe to Offer Banking Services in Deal With Goldman Sachs, Citigroup
wsj.com
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