Yesterday, I drove in the footsteps of James Bond at the Furka Pass.
But something was deeply wrong.
The massive glacier from the movie, the one behind the iconic Hotel Belvedere, was gone!
Vanished in just 60 years.
The hotel, built in the 1880s, was named "Belvedere" for its breathtaking view of that very glacier. Just few hundred meters away.
Today, it overlooks a pile of rocks.
No wonder it's abandoned. 😔
Climate change isn't just real. It's fast. Frighteningly fast.
Forget the political debate for a moment and let's talk business.
The next 2008-style financial crisis won't be triggered by an AI bubble.
(Spoiler: there is no AI bubble).
👉 It will be triggered by climate change.
Here's why:
Extreme natural disasters have skyrocketed.
Some data shows a five-fold increase in 50 years. Other sources say two-fold in just the last 20.
But here’s the problem nobody talks about:
Natural disasters → $$$$ financial damage → $$$$ insurance claims.
When claims get too high, insurers can't cover the losses.
So they simply stop insuring properties in high-risk areas.
Provided they haven't bankrupted in the meantime.
And then the domino effect:
→ No insurance, no mortgage. Banks won't lend without insurance.
→ Property values plummet.
→ Massive wealth destruction.
→ Left without local business, banks close up branches and leave.
A collapse in property prices and banks closing down is a horror movie we've all seen before.
But this time, add catastrophic insurance losses to the mix.
In all of this,
AI might be our only way out.
Sophisticated reasoning models could find AND implement the solutions for us.
Or at least, I hope that's what the 9-figure AI engineers are working on right now!
