Many believe that Javier Milei is the beneficiary of the generosity that Donald Trump shows with money that is not his own, but taxpayers', and that he has used liberally to rescue the Argentine State. But there is another winner. A 60-year-old man named Rob Citrone, founder of the hedge fund Discovery Capital, who has invested (almost) everything in Argentine assets. So if the country goes bankrupt, Citrone does too. That's why the financier has called his friend and former colleague from the times when they both worked for George Soros, the US Treasury Secretary, Scott Bessent, and asked him to rescue Argentina (and, in the process, himself). Thus, the $20 billion from the US sent to Argentina by Donald Trump (a nationalist who rejects using tax money to help Ukraine) to save Milei (an ultraliberal who opposes States getting involved in politics) has also helped Citrone.
Netanyahu opens a new front: Gaza, Iran... and also TikTok
How many fronts is Israel at war on? According to the Prime Minister of that country, Benjamin Netanyahu, eight: Gaza, West Bank, Lebanon, Syria, Yemen, Iran, Iraq... and world public opinion in general, and the US in particular. On that last front, social media is "the most important weapon," especially TikTok, as Netanyahu himself stated two weeks ago at the Israeli Consulate General in New York. Although peace seems close on the Gaza front, no ceasefire is expected in the online war. Israel has a budget of 545 million shekels (143 million euros) for 2025 to defend its positions on social media using influencers and Artificial Intelligence (AI). Social media is now the propaganda tool for the small (Israel, Dubai, New Zealand) and the poor (Russia), allowing them to reach audiences they would never have accessed in the pre-Internet era.
From 'non-dom' to 'ciao-dom': British rich pack their bags for Italy
Milan is emptying London and, to some extent, Paris. Thanks to the favorable tax framework established by the Government of Giorgia Meloni, the city is attracting billionaires leaving the British capital since the Government of Rishi Sunak ended the non-dom, a very favorable tax regime for those with income outside the UK. Milan's success is such that the French Government, with its usual humility, complained this summer to Italy because their millionaires are also moving to Milan. This is striking, given that France successfully launched a campaign a decade ago to attract the London financial sector fleeing Brexit. Milan, however, faces tough competition in draining London. Last week, Nik Storonsky, the founder and CEO of the online bank Revolut, Europe's most valuable startup, announced he is leaving London, where the company was born and is headquartered, and moving with his family to Dubai.
Since the collapse of the USSR, Cuba has tried to imitate China. And although it has failed in economic reform, technological transformation, and improving living standards, it has successfully copied Beijing in maintaining an autocratic system of government and using prisoners in sectors aimed at export. China puts prisoners to work collecting cotton that will be used in textiles exported worldwide. Cuba puts them to roll cigars - including the famous Habanos - for export. This was confirmed last week, in response to a complaint from the NGO Prisoners Defenders, by the Cuban companies Tabacuba (state-owned) and Habanos S.A. (curiously, a Cuban-Chinese joint venture). According to Havana, prisoners only roll cigars to learn a trade that will facilitate their reintegration into society. And, incidentally, earn some foreign currency, much needed in a country that is struggling.
From search engine to searched: ChatGPT threatens Google and wants Sora to be TikTok
Will AI chatbots take over social media? And Google? That seems to be the idea being sold to us by the Financial Times. First, it published an article last weekend stating that social media consumption has been declining worldwide for three years, with some exceptions, the most significant being the US. But on Wednesday, the same newspaper published an investigation demonstrating how humans are increasingly hooked on AI chatbots, especially ChatGPT, which 700 million people connect to each week. The popular bot is used for everything, including relationship advice and personal matters (2% of all interactions) and increasingly in multimedia. Interestingly, this week's most downloaded app in the US is Sora from ChatGPT, which allows creating virtual reality videos and could become a threat to Instagram and TikTok.