| Dear Friend, Louis Gave, founding partner and CEO of Gavekal, recently wrote a report that comes to some interesting conclusions, which I want to share here with you. (Louis, by the way, is always one of the most popular speakers and panelists at our annual Strategic Investment Conference. To watch him live next week at the SIC, get your deeply discounted Pass here.) He says, “Knowledge is increasingly the key input in the production process,” and “unlike other resources, [it] is neither scarce, nor does it get depleted as it is used. To the contrary: If you share knowledge, you do not end up with less, but you may well end up with more.” The problem is that companies and nations seem to be hoarding knowledge these days. Louis names three worrisome trends: - Big Tech is increasingly more concerned with protecting monopolies than with fostering competition.
- Instead of upholding free speech, across the West what should be centers of learning (universities), forums for debate (tech platforms), and instruments for seeking truth (the media) are increasingly narrowing the terms of debate.
- The global technology universe is increasingly fragmenting into two, or even three, discrete blocs: a western tech world built on the back of giant US corporations, an emerging market tech world built by Chinese behemoths, and increasingly an Indian tech world that is emerging partly because of the nationalist policies of Narendra Modi’s government. If we accept that the growth of technology is the foundation on which the spread of knowledge rests, this fragmentation can hardly be positive for the future propagation of knowledge.
He says the third point is probably the most important because, “behind it lies the growing threat of a new cold war with the US and its allies on the one hand, and China, possibly in league with Russia, on the other.” You see why I wanted Louis as a participant on our SIC “New Cold War” panel. Joining him will be my old friend George Friedman of Geopolitical Futures, who has his finger on the pulse of world events like no one else, and Emily de La Bruyère, co-founder of Horizon Advisory. Mark Yusko will be the moderator. I hope you won’t miss this informative (and no doubt lively) panel discussion. One thing’s for sure: There will be no shortage of knowledge at this conference. The SIC is only five days away at this point, so don’t wait. Order your 50% discounted SIC Pass today. Your always ready to increase his knowledge analyst, 
John Mauldin
Co-Founder, Mauldin Economics |
