Day: October 20, 2022

All the Metals We Mined in 2021: Visualized


This post is by Govind Bhutada from Visual Capitalist


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infographic showing all the metals mined in 2021

All the Metals We Mined in 2021

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“If you can’t grow it, you have to mine it” is a famous saying that encapsulates the importance of minerals and metals in the modern world.

From every building we enter to every device we use, virtually everything around us contains some amount of metal.

The above infographic visualizes all 2.8 billion tonnes of metals mined in 2021 and highlights each metal’s largest end-use using data from the United States Geological Survey (USGS).

Why Do We Mine So Much Iron Ore?

Iron ore accounted for 93% of the metals mined in 2021, with 2.6 billion tonnes extracted from the ground. It’s important to note that this is ore production, which is typically higher than metal production since metals are extracted and refined from ores. For example, the iron metal content of this ore is estimated at 1.6 billion tonnes.

Metal/Ore2021 Mine Production (tonnes)% of Total
Iron ore2,600,000,00093.4%
Industrial metals181,579,8926.5%
Technology and precious metals1,474,8890.05%
Total2,783,054,781100.0%

With 98% of it converted into pig iron to make steel, iron ore is ubiquitous in our lives. Steel made from iron ore is used in construction, transportation, and household appliances, and it’s likely that (Read more...)

UK Prime Ministers with the Shortest Term Length


This post is by Nick Routley from Visual Capitalist


Infographic showing UK prime ministers who had the shortest term

The Briefing

  • Eight Prime Ministers in UK history have had terms shorter than one year
  • In October 2022, Liz Truss became the shortest-serving PM, with just 44 days in the role

UK Prime Ministers with the Shortest Term Length

After six weeks that many have described as “chaotic”, UK Prime Minister Liz Truss has resigned. In stepping out of the PM role, Truss is stepping into the history books as the shortest-serving PM in UK history.

While Truss’s term is noteworthy for its briefness, she is not the only politician to have a whirlwind tour of Number 10 Downing Street. Of the 56 people who have held the PM position, eight have served less than a year:

Prime MinisterLength of TermPartyStart of TenureReason for Exit
Liz Truss44 daysConservative2022Resigned
George Canning119 daysTory (Canningite)1827Died
F. J. Robinson, 1st Viscount Goderich144 daysTory (Canningite)1827Replaced
Andrew Bonar Law211 daysConservative (Scot. Unionist)1922Illness
W. Cavendish, 4th Duke of Devonshire225 daysWhig1756Replaced
W. Petty, 2nd Earl of Shelburne266 daysWhig (Chathamite)1782Replaced
J. Stuart, 3rd Earl of Bute317 daysTory1762Resigned
Sir Alec Douglas-Home363 daysConservative (Scot. Unionist)1963Election

The next shortest term in the post-war period goes to Sir Alec Douglas-Home, who served just a hair under one year.

Why So Short?

There are a variety of reasons why leaders have served such short terms.

Much like Liz (Read more...)

AI: Startup Vs Incumbent Value


This post is by Elad Gil from Elad Blog


In each technology wave the value, revenue, market cap, profits and great people captured by startups versus incumbents differs. In some waves it all goes to startups, while in others it goes to incumbents or is split between them. Unexpectedly, the prior wave of value from AI roughly all went to incumbents over startups, despite a lot of startup activity. This post explores that dynamic and posits the current unsupervised learning wave of AI will contain strong startup success, in addition to incumbent value.

Some history

In the first internet wave most of the value went to startups (Google, Amazon, Paypal, Ebay, Salesforce, Facebook, Netflix) while some was captured by incumbents (Microsoft, Apple, IBM, Oracle, Adobe) who extended their franchises onto the internet. Perhaps this was a 60:40 or 70:30 startup:incumbent split.


For mobile, most of the value went to incumbents (Apple, Google, and then every mobile version of an incumbent’s app - e.g. “Mobile CRM” was not a stand alone startup but rather Salesforce on your iphone) while there will still significant capture by startups (Whatsapp, Uber, Doordash, Instagram, Instacart etc). Perhaps this was a 20:80 startup:incumbent split.


Crypto in contrast has been roughly 100% startup capture (Bitcoin, Ethereum, Coinbase, Binance, FTX, etc) with very little participation in value creation by existing financial services or infrastructure companies. Perhaps the biggest incumbent participants in crypto have been semiconductor companies like AMD or NVIDIA whose chips are sometimes used for token mining.


(Please note the term "startup" is meant to mean (Read more...)

Panic with Friends: Bobby Matson of Payitoff.io on Navigating the Complex World of Student Loan Repayment


This post is by Howard Lindzon from Howard Lindzon