Technology, Politics, Mind. Since 2014.
Est. 2014
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The hidden machinery of money and power — the secret owners, staggering fortunes, and frauds behind the companies and institutions you think you know. Every film is built on court records, regulator filings, and original investigative reporting.

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Technology

Innovation ecosystems and the people building them. European startup news, global ecosystem coverage, and the engineering inside the companies shaping the technology economy.

  1. On May 24, 1844, Samuel Morse sat in the US Capitol and tapped out 'What hath God wrought' to his assistant Alfred Vail 60 kilometres away in Baltimore, a phrase chosen not by Morse but by Annie Ellsworth, the young daughter of a friend, who picked it out of the Book of Numbers and then traced every letter of it on the tape in ink herself
  2. How does a single company in a Dutch town of roughly 48,000 people build the only machines able to print the world’s most advanced chips, with its newest model costing about €350 million?
  3. Fresh disclosures revealed separate containment failures at two of the biggest AI labs in the same week, and the timing overlaps closely with a kill-switch bill that had just entered Congress
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Politics

The political and policy forces shaping technology. Capital, regulation, geopolitics, surveillance, antitrust, and the politics of innovation.

  1. Singapore's millionaire density hit 1 in 6 households — and the mental health data is telling a very different story about what that wealth is buying
  2. South Korea approved single-stock leveraged ETFs, then banned new ones two months later — inside the margin unwind that pushed forced selling to seven times last year's pace
  3. Antonio Damasio's 'somatic marker' theory argued that bodily signals help guide decisions before conscious reasoning, and patients with damaged emotional circuits showed why intellect alone may not be enough
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Mind

The human behaviour behind the work. Decision-making, attention, identity, performance, and the everyday observations that explain how people live and work.

  1. An elderly man in London lost his wife and then his son, and didn't know what to do with the grief, so he started running. Eleven years later, at 100, he crossed the finish line of a full marathon in just over eight hours.
  2. Steven Levitt ran an experiment with more than 20,000 coin tosses over decisions people could not make, and the ones the coin told to make the change were happier six months later: his conclusion is that people may be excessively cautious about life-changing choices
  3. Retirement planning is almost entirely about money, yet a meta-analysis of 94 tests found what predicts follow-through is naming when, where and how you will do a thing: the plan that holds is not the ambitious one, it is the one with a day attached
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What’s building in

Cities

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Europe

London
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How did a treaty agreed in 1987 and eventually ratified by every nation shrink a hole in the atmosphere the size of North America back toward 1980 levels?
  1. In 1939, a self-taught excavator named Basil Brown was digging a mound on Edith Pretty's estate in Suffolk when his trowel traced the outline of a 27-metre Anglo-Saxon ship whose timber had long since rotted, leaving only iron rivets holding the shape of a vessel in the sand
  2. How does a bundle of glass fibres thinner than a garden hose, lying on the ocean floor under four kilometres of water, carry more than 95 percent of all intercontinental internet traffic?

North America

New York
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We tend to picture gold as an Earth metal pulled from mines, but every atom of it, in every wedding ring and central bank vault, was forged in the collision of two neutron stars before the Sun existed and rained onto the young Earth as stellar shrapnel
  1. Nearly every plant on your plate is quietly chemically defended against being eaten — and a growing line of research suggests that faint, low-dose sting may be one of the underrated reasons a vegetable-heavy diet keeps you healthy
  2. In 1991, two researchers at Cambridge pointed a grainy camera at the Trojan Room coffee pot and wired it into the building's network, because they were tired of climbing the stairs to find the jug empty — and without meaning to, they built the first webcam

Asia

Singapore
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A 2026 study revealed how sperm whales stay suspended during their eerie vertical naps: they blow bubbles to stop their buoyant bodies from rising into the waves
  1. In 1944, an IBM machine called the Harvard Mark I clattered through a calculation for the Manhattan Project at three additions per second, fed by paper tape and operated by a young Navy lieutenant named Grace Hopper who took the graveyard shift more often than anyone and slept beside it on a cot, waking the moment the relays went quiet because a silent machine meant something had gone wrong
  2. Nobody talks about the layer underneath physical AI, and the man whose code runs on 6 billion devices just raised $5M to own it before the robot fleets arrive

Latin America

São Paulo
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In 1816, a 35-year-old French physician named René Laennec rolled a sheet of paper into a tube and pressed it against a young woman's chest because he was too embarrassed to put his ear there, and the sound of her heartbeat through the cylinder became the first stethoscope
  1. A single bolt of lightning that crossed Texas, Louisiana, and Mississippi in April 2020 stretched 768 kilometres end to end, once the longest single flash ever recorded and roughly the distance from New York City to Columbus
  2. On September 9, 1947, Grace Hopper's team at Harvard pulled a dead moth out of the Mark II computer's relay, taped it into the logbook with the note 'first actual case of bug being found,' and preserved the page that gave software its oldest metaphor

Middle East

Tel Aviv
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US hits Iranian nuclear site as Hormuz shipping stalls and troop deaths mount
  1. Roughly 80% of the cheese in the US and other major markets is now made with an enzyme produced by genetically modified microbes, not from calf stomachs — and most shoppers have no idea
  2. Iran wiped Stryker's devices, ShinyHunters defaced Canvas during finals, and DOGE allegedly uploaded every American's SSN to an unsecured server — and the connective tissue between these stories isn't what most analysts think

Deep dive on

AI

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Editorial columns

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Technology

Canal Letter

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ASML in Veldhoven is the only company on Earth that can build extreme ultraviolet lithography machines, and each one contains a mirror so perfectly polished that if you scaled it up to the size of Germany, its tallest bump would be less than a millimetre high

ASML in Veldhoven is the only company on Earth that can build extreme ultraviolet lithography machines. Inside each one are mirrors so smooth that, scaled to the size of Germany, their tallest bump would sit under a millimetre high — and every leading-edge chip on the planet has passed under their light.
  1. Anthropic’s $1.5B copyright settlement wins final approval, leaving AI fair-use ruling intact
  2. The US fast-charging network quietly stopped being terrible, and the data shows buyer confidence in EVs is collapsing anyway — a gap nobody in the industry knows how to close
  3. Nobody is asking why Apple filed its OpenAI trade secrets suit now, weeks before a rumoured public listing — and the answer sits inside a screenless device shaped by the more than 400 ex-Apple hires OpenAI has quietly made
All in Canal Letter →

Politics

Cabinet

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The EU’s AI Act starts requiring chatbot and deepfake labels on August 2 — while its tougher rules on hiring, biometrics and migration are pushed back to December 2027

The transparency obligations are the cheap ones to meet. The expensive, rights-protective rules are the ones that just got more time.
  1. The EU says Instagram and Facebook’s addictive design likely breaks its rules — and it wants autoplay and infinite scroll off by default
  2. Agility Robotics is going public at $2.5B while Figure AI sits at $39B on less proven ground — and the gap between those two numbers is the entire humanoid robotics thesis in one line
  3. Ford rehired the engineers it replaced with AI — and reclaimed its first JD Power top ranking since 2010
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Mind

Field Notes

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Is all that scrolling really dulling your attention? Researchers combed 71 studies — the link is real, but how compulsively you scroll matters more than how long

A meta-analysis covering 98,299 people finds short-form video use tracks with weaker attention and self-control. The strongest links show up not in hours logged, but in the pull to keep going.
  1. Most of what you do all day runs on habit, not choice — but a new study found the habits are usually working for you, not against you
  2. There’s a reason “I’ll start Monday” keeps working — researchers found people are measurably more likely to hit the gym, start a diet, or set a new goal right after a fresh week, month, or birthday
All in Field Notes →

Funding

The Term Sheet

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Sperm whales sleep vertically in silent pods near the ocean surface, drifting head-up in synchronized clusters for roughly ten to fifteen minutes at a time — the only mammal known to sleep this way, and the behaviour was not filmed until 2008

Sperm whales sleep vertically in silent pods near the ocean surface, drifting head-up in synchronised clusters for ten to fifteen minutes at a time — a posture no other mammal is known to use, and one that went unfilmed until 2008.
  1. Why did an oil-producing country pumping about two million barrels a day make electric cars 96 percent of new sales in 2025 while building the world's largest sovereign wealth fund?
  2. Four US tech giants spent roughly $410 billion on capital expenditure last year, much of it tied to AI, and are steering toward roughly $725 billion in 2026
  3. Ambition doesn't fade in your 40s — a Gallup analysis suggests it quietly redirects, from wanting to be seen as impressive to wanting to be trusted by a small handful of people
All in The Term Sheet →

AI & Deep Tech

Machine Room

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There's a charge added to almost everything you buy that you never agreed to and never see, and it's been quietly climbing for decades.

Merchants have been quietly passing along billions in hidden credit card fees to you every time you swipe, and nobody's talking about it.
  1. How did a Nordic company that started by making rubber boots and paper pulp become the world's biggest mobile phone maker by 2000, then lose almost all of it inside seven years?
  2. Ozempic has no owner. Not a person, not a family, not a parent company, and the reason why is stranger than the drug itself
  3. Many people assume those who build powerful AI must grasp how it thinks, but in an important sense they cannot: even a model's own creators often cannot fully explain why it gave one answer rather than another
All in Machine Room →

Free field brief

The Empire File

How money, ownership, and power actually move behind the companies you think you know. Built for people who watch our documentaries. Sundays you also get The Undercurrent.

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