📊 EV’s Charts of the Week #54

Hi, I’m Azeem Azhar. I convene Exponential View to help us understand how our societies and political economy will change under the force of rapidly accelerating technologies.

This is an excerpt from a member-only Charts of the Week edition.


Today's edition has been supported by our knowledge partner, McKinsey & Company.

Hedgehogs 1, Foxes 0. As a wise man once said, foxes know many things, but hedgehogs know one big thing. It’s a useful construct to explain what’s happening in cloud computing. Vertical applications (which specialize in an industry) are attracting more business in more sectors than horizontal applications (which are designed to work across industries).

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DEPARTMENT OF MARKETS

The 100-year run

As we approach the end of 2021, it’s an excellent time to take stock of the global markets. US markets are at their highest ratio of market cap vs. GDP in more than a century. Via The Gold Observer

Bitcoin as a haven asset

The incredible growth of US markets can make you wonder where crypto markets will be in 100 years. The correlation between Bitcoin and US equity markets remains positive... but not hugely so. Via Bloomberg

What is a safe haven anyway?

The price of Bitcoin appears to be tracking household net worth value in the US. Nordea, the bank, reckons the boom in asset prices is one driver of a tighter labour supply? Via Nordea

The select few controlling NFTs

Necessary research shows how lopsided the NFT market is at the moment. 10% of buyer-seller pairs consists of half of the NFT transactions, the remaining 90% the other half, showing a typical unequal power-law distribution. Via Nature

Titans of industry

The top five holdings in the S&P500 now make up 23.5% of the entire index. The firms of the Exponential Age are cementing their leadership. A point to note is that two years ago, one could argue the S&P500 was no more concentrated than in previous highs. But that is clearly no longer the case. (I discuss the rationale is in my book, of course.) Via Charlie Bilello

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