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How green is your electric vehicle, really? - The Economist   

Except it doesn’t. Just look at the future line-up that Fisker, an EV startup, unveiled on August 3rd. It included: a souped-up, off-road version of the Ocean, which Henrik Fisker, the carmaker’s Danish co-founder, said would be suitable for a monster-truck rally; a “supercar” with a 1,000km (600-mile) range, and a pickup truck straight out of “Yellowstone”—complete with cowboy-hat holder. Granted, there was also an affordable six-seater called Pear. But though Fisker says sustainability is one of its founding principles, it is indulging in a trait almost universal among car firms: building bigger, burlier cars, even when they are electric.

There are two reasons for this. The first is profit. As with conventional cars, bigger EVs generate higher margins. The second is consumer preference. For decades, drivers have been opting for SUVs and pickup trucks rather than smaller cars, and this now applies to battery-charged ones. EV drivers, who fret about the availability of charging infrastructure, want more range, hence bigger batteries. BNEF, a consultancy, says the result is that average battery sizes increased by 10% a year globally from 2018 to 2022. That may help make for a more reassuring ride. But eventually the supersizing trend will prove to be unsustainable and unsafe.

Already it is verging on the ludicrous. General Motors’ Hummer EV weighs in at over 4,000kg, nearly a Kia Niro more than its non-electric counterpart. Its battery alone is as heavy as a Honda Civic. General Motors also recently unveiled a 3,800kg Chevrolet Silverado electric pickup, which can tow a tractor and has a range of up to 720km. This year Tesla plans to start production of its electric “Cybertruck”, described by Elon Musk, its boss, as a “badass, futuristic armoured personnel carrier”. Such muscle trucks may be the price to pay to convince hidebound pickup drivers to go electric. Yet size matters to suburbanites, too. The International Energy Agency, an official forecaster, calculates that last year more than half the electric cars sold around the world were SUVs.

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The insider: how Michael Lewis got a backstage pass for the fall of Sam Bankman-Fried - the Guardian   

Right around the time the gales of the financial crisis were tearing up Wall Street in 2009, Meredith Whitney started her own financial research firm. Whitney, a stock market analyst, had predicted the crash of the previous year, and among the journalists who had sought her out had been Michael Lewis. When her new Manhattan office opened and she threw “a party for all the muckety-mucks”, she invited Lewis. He had just published a magazine article calling Wall Street’s titans greedy and stupid, so thrusting him into a gathering of those selfsame titans was like taking a Broadway heckler into the play’s dressing rooms. “But all these former heads of investment banks, all these current bankers – they ran, not walked, to the office, just to meet him,” Whitney said. “One hedge fund manager walked in with 15 copies of Lewis’s books. Michael signed them all.”

Lewis enjoys a rare kind of celebrity among the moneyed men and women of the US. They believe he gets them, that he is the Hemingway of their bullring. He used to be one of them, after all: a Salomon Brothers bond salesman in the late 1980s, and therefore part of the extravagant avarice that defined Wall Street in that decade. Then he quit to write a memoir about it, Liar’s Poker. It was the first in a series of blockbusters about the thin top slice of American society: the one in which Whitney and her muckety-mucks reside, alongside other mavens, savants and powerbrokers. They drive its commerce and politics, its sports and culture – and Lewis is their bard. He’s the kind of writer Vanity Fair will call upon to interview Barack Obama one day, Arnold Schwarzenegger the next. When a rumour surfaced that Vanity Fair used to pay Lewis $10 a word – while most journalists otherwise languish in the 50-cent range – it almost didn’t matter if it was true. (It was, it turned out.) The rumour merely confirmed what everyone knew: Lewis is the most prestigious narrator of American life.

Strictly speaking, those profiles of Obama and Schwarzenegger are aberrations. Lewis’s ambition is to show how our world is revolutionised by nobodies – by clever people who are modestly known in their own fields but certainly not household names. He finds these people so unfailingly that it counts as his most brilliant skill. He tells their stories with verve, but he also makes a kind of implicit prediction every time. His oddballs may think about their work in deviant ways, Lewis argues, but hindsight will prove them right. And as the discoverer of such wise minds, Lewis himself acquires a similar reputation for sagacity – for seeing what others don’t see.

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