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No European Giant Created in 50 Years. That's a Lack of Creative Destruction
Until 2024, no European company founded since 1975 exceeded 100 billion euros in market capitalization — a finding that was central to the Draghi report. This assertion has since been superseded: Spotify, founded in 2006 in Sweden and listed in New York, crossed this threshold in early 2025 to reach
Like Turbulent Teenagers, AI Agents Break Things and Are Not Governed
In the past twelve months, 65% of organizations that have deployed AI agents have suffered at least one cybersecurity incident related to these systems. In 61% of cases, sensitive data was involved. These figures, published in April 2026 by the Cloud Security Alliance and Token Security, do not desc
In the United States, Productivity Rises and Wages Wait
American labor productivity (non-agricultural sector) rose from +1.6% in 2023 to +2.3% in 2024, according to the Bureau of Labor Statistics. This acceleration coincides with the massive diffusion of AI in companies, even though the causal link remains unproven at the aggregate level according to ava
In Switzerland, Choosing a Trade at Sixteen Is Not a Failure
Seventy percent. That is the share of young Swiss people who pursue vocational training after compulsory schooling. In Austria, this figure reaches 68%. These two countries do not produce failures of general education — they have built systems where the vocational pathway is a choice, not a consolat
Italian and Spanish Cooperatives Teach Us How to Share AI's Gains
In Italy, cooperatives employ approximately 1.1 to 1.3 million workers and have 12 million members (shareholders), with total revenue estimated between 127 and 140 billion euros. This sector is not that of a niche activist movement. It is that of an industrially mature sector, present in logistics,
An Indigenous Language Dies Every Two Weeks—and AI Is Beginning to Save Them
Sometime between now and a few weeks from now, a human language will die. Not a minor or marginal language—an entire language, with its grammar, its metaphors, its ways of dividing time and space, its ways of naming plants, winds, relationships between people. According to UNESCO, 40% of the 7,000 l
The Wolf Returns to 34 European Countries. Environmental Success and Political Cacophony
In ten years, the range of the gray wolf has expanded by 25% across the European continent. The species is now monitored in 34 countries. This return is not an ecological curiosity: it is a full-scale test of Europe's capacity to manage a shared resource that no one asked to share. The result, for n
The First Rung of the Ladder Has Shifted
The Stanford HAI 2026 AI Index reports a decline close to 20% in employment of developers aged 22 to 25 since 2024 in companies heavily exposed to generative AI, while Brynjolfsson, Chandar & Chen measure a relative decline of 13% since late 2022 in the most exposed occupations. On the other side, t
Taiwan Cares for Its Seniors with Connected Sports and Relieves Hospital Overcrowding
Nine out of ten seniors improved their muscle mass and mental health after attending connected fitness clubs established by the Taiwan government. This figure, drawn from an analysis of 150,000 visits published in September 2024 in the European Journal of Public Health (Volume 34, Supplement 2), i
'The Seasons of Freedom' by Mathieu Laine — liberal democracy does not die from assault, it falls asleep
Freedom does not collapse. It dissolves. This shift in perspective, simple as it may seem, lies at the heart of Mathieu Laine's essay — and it is precisely what makes it a useful book for the present moment. - The central thesis: freedom traverses a cycle in four stages (liberating spring, summer of
The Future of European Rugby in the Blood of Former Players
Fifty-six former rugby players. Blood tests. And significantly elevated tau protein levels in those who sustained more than five concussions during their careers. The UK Rugby Health study published in July 2024 is not the first to document the neurological sequelae of professional rugby, but it is
Nuclear Fusion Enters American Factories
In January 2026, Commonwealth Fusion Systems installed the first of 18 superconducting magnets for SPARC, its experimental tokamak currently being assembled in Devens, Massachusetts. Six months later, the reactor was approximately 75% constructed. This is not a victory press release, it is an indust
Batteries Have Solved Intermittency. The Rest Is a Question of Industrial Policy.
One evening in March 2026, batteries stored on California's grid covered 40% of the state's electrical load. This is not an experiment. This is not an isolated record. Over the entire first quarter, batteries ensured a significant share of hourly ramp-up capacity in California — that is, the ability
Chile risks squandering its lithium rent
Lithium extracted from the Salar de Atacama represented $2.7 billion in Chilean exports in 2024. Without new productive capacity, Chile's share of global production could fall from 23 to 17% by 2030, according to projections from Cochilco, the public mining agency. The country that holds the world's
Energy Transition Hanging by a Chinese Algorithm
In 2024, wind and solar represent on average 29% of the EU's electricity, with a monthly peak of approximately 33% in April. Certain individual European countries exceed 40% or even 60%, but not aggregated Europe. Yet a large-scale outage in a region dominated by renewables can cause the network fre
AI Consumes More Each Year Even When Each Request Costs Less
The share of energy devoted to inference in the lifecycle of large AI models has progressed significantly in recent years, to the point where it now exceeds that of training. In other words, running AI now costs more energy than building it. And this reversal occurs precisely at the moment when each
Rich Countries Will Run Out of Workers Long Before Running Out of Jobs
Demographic aging has already cost advanced economies 0.10 points of wage growth and 0.13 points of productivity per year between the early 2000s and the late 2010s. This is not a projection. This is what has already occurred, quietly, while public debate focused on financial bubbles and debt crises
AI Accelerates Early Career Starts and Cuts the Trajectory That Follows
A junior consultant equipped with an AI assistant produces today work that only a senior would have delivered five years ago. It's documented, measured, and presented as a victory. What the same studies note in a footnote: that senior never existed. They didn't have time to develop. The debate on AI
One Man, an Army of Agents
The American company with no employees is not a marginal phenomenon. There are approximately 29.8 to 30.4 million of them (data from 2022-2023), which together produce about 6.8% of American GDP. Each month, a growing number of new ones are added. This phenomenon was already circulating before AI. W
What Latin America Knows About the Poor That Europe Refuses to Learn
Twenty years of converging data point toward a rare conclusion in social policy: conditional cash transfers work. In the Brazil-Ecuador-Mexico zone, they are associated with a 24% reduction in mortality among children under five, according to an ISGlobal study published in JAMA Network Open in 202
Young People's Mental Health Resists Simple Solutions
One in five adolescents suffers from a diagnosable mental disorder in OECD countries. This figure has stagnated for ten years despite an explosion in resources devoted to the issue. And among 10-14 year-olds, the suicide rate experienced significant growth in 2020, a year when the entire world barri
The athlete's body becomes a digital asset of the club
A considerable number of musculoskeletal injuries occur each year in global professional sport. This is the figure that wearable manufacturers wave around to justify a market that reaches 98 billion dollars in 2026 and grows by 4% annually. The promise is compelling: sensors fixed to an athlete's bo
Platforms Undermine Trust in Information Downward but Are Still Increasingly Consulted
Global trust in information stands at 37% worldwide in 2026. Trust in social media is at 22%. And for the first time since the Reuters Institute has measured this data, digital platforms — social networks, online video, chatbots — surpass all other information sources combined, with 54% of global au
The European State-Funded Museum Learns to Survive Without It
In 2024, Madrid's Prado received 3.5 million visitors. The Uffizi Gallery in Florence exceeded 4 million for the first time in its history. These figures, presented as victories, mask a growing fragility: both institutions depend significantly on public funding that is contracting, and the model tha