OE
𝔗𝔥𝔢 𝔒𝔭𝔢𝔫 𝔈𝔠𝔬𝔫𝔬𝔦𝔰𝔱
Issue #18
Aug 13, 2026
The Take

NVIDIA IS LINING UP $500 BILLION TO BUILD THE AI FUTURE

Nvidia has partnered with six of Wall Street's biggest asset managers, Apollo, Blackstone, BlackRock, Brookfield, Goldman Sachs and KKR, to mobilise more than $500 billion in financing for data centres and frontier AI labs. The chipmaker isn't just selling the shovels for the AI goldrush anymore. It's funding the entire dig.
→ Reuters
By The Open Economist
🔥Raza Unfiltered

MAPPING THE MOVES THAT MATTER

THIS WEEK: HOT COUNTRIES ARE POORER?

Here's a wild idea: geography might explain more about a country's wealth than anything else.

The claim: for every one degree hotter a country is, its income shrinks by around 8.5%. The logic is that heat quietly puts the brain in power-save mode. People think slower, work less, and produce less, so the whole economy slows down with the weather.

To escape it, some populations moved up into the mountains. Cooler air, clearer heads, higher productivity. But altitude came with its own trap: no flat land, no rivers, no easy roads. Goods became slow and expensive to move, and less trade means less money.

So millions ended up swapping one kind of poor for another. Hot and poor in the lowlands. Cold and poor in the highlands. The map, it seemed, had decided everything.

Except one country broke the rule entirely. Singapore sits right on the equator, in the heat, with no natural advantages, and somehow became one of the richest places on earth.

Which raises the real question: if geography is destiny, how did Singapore escape it?

Watch the full reel on Instagram →
📰5 Things You Missed This Week

INFLATION TICKED UP IN JULY. THE FED IS BOXED IN

July inflation rose 0.1% on the month, a small but unwelcome uptick that keeps the Fed trapped between cutting rates to help growth and holding firm to fight prices. With markets at record highs and a September decision looming, every fraction of a percent now counts.

Finance

BOEING JUST SOLD PART OF ITSELF TO A FLYING-TAXI STARTUP

Archer Aviation jumped 12% after agreeing to buy three Boeing subsidiaries, with Boeing taking a stake in Archer in return. It's a striking role reversal: the aerospace giant handing pieces of itself to a startup betting on electric air taxis.

Business

GOOGLE JUST UNVEILED THE PIXEL 11, WITH AI AT ITS CORE

Google launched its Pixel 11 lineup this week, its biggest bet yet on putting Gemini AI directly in your pocket, testing whether AI phones can finally do something genuinely useful rather than just demos.

Technology

THE HORMUZ DEAL IS SLIPPING AWAY AGAIN. OIL IS CLIMBING

Iran said an agreement with Oman wouldn't be enough to reopen the Strait unless the US ends its blockade and withdraws forces, and Trump then demanded compensation from Iran, pushing a deal further away. Brent crude climbed back above $84.

Geopolitics

FRANCE JUST BANNED COLD CALLING. A WIN FOR EVERYONE'S SANITY

France has banned unsolicited cold calling as of this week, requiring companies to have explicit consent before phoning consumers. A small but genuine quality-of-life shift that other countries may soon copy.

Future of Living
🛠️TOP 5 COUNTRIES WITH NO INCOME TAX
1

United Arab Emirates

The most practical option by far. Zero personal income tax, a genuine residency route through its Golden Visa, and over 140 tax treaties. It's why Dubai has become the world's magnet for entrepreneurs and remote earners. You'll still pay 5% VAT, but nothing on your salary.

2

Monaco

Europe's original tax haven, with a 150-year-old exemption on personal income. The catch is the cost of living, some of the priciest real estate on earth, and you must live there at least 183 days a year to qualify. Zero income tax, but you pay for the postcode.

3

Cayman Islands

The purest model on the list. No income tax, no capital gains tax, no payroll tax, and no tax return to file at all. It funds itself through import duties and financial-services fees, making it a favourite for the globally wealthy.

4

The Bahamas

Zero personal income tax, funded largely by tourism and import duties. Residency is accessible through property investment, and its proximity to the US makes it one of the easier tropical tax-free bases to actually live in.

5

Vanuatu

A Pacific island nation with zero personal income tax, no capital gains and no inheritance tax. It also offers one of the fastest and most affordable citizenship-by-investment programmes in the world, which has made it a quiet favourite among globally mobile entrepreneurs. Remote, but genuinely tax-free.

Nvidia isn't just selling the tools of the AI boom anymore, it's financing the whole thing. When the biggest winner starts funding the game itself, it's worth asking who's really carrying the risk. Back Thursday.

— The Open Economist

You're receiving this because you subscribed to The Open Economist.