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The Money That Never Leaves the Room: How AI’s Circular Financing Revived a Warning Richard Cantillon Issued Three Hundred Years Ago

In September 2025, the chip company Nvidia announced that it would put as much as $100 billion into OpenAI. The pledge carried a condition that few headlines bothered to translate: OpenAI would spend a large share of the money leasing and buying Nvidia’s own processors to fill the data centers the investment was meant to build. Nvidia pays OpenAI. OpenAI pays Nvidia. The figure on the press release reads as growth. The mechanism underneath reads as a man moving a coin from his right pocket to his left and announcing that the household has grown richer.

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Go On Singing, But Sign Your Name: Orson Welles, the Unsigned Cathedral, and the Most Seductive Lie in “F for Fake”

Picture the man. He is past sixty, vast, wrapped in a black cape and a wide hat, and he has just spent an hour lying to your face on purpose. He told you at the start that for the next sixty minutes everything would be true, and you believed him, because the voice belongs to Orson Welles and that voice could sell you the deed to a bridge. Then the hour ran out, and in the last seventeen minutes he spun a whole story about a young woman, her grandfather, and twenty-two forged Picassos, walking you through it as documented fact before turning to the camera to admit he had been, in his own phrase, lying his head off. The film is “F for Fake,” from 1973. With the trick still warm, Welles plants himself in front of Chartres Cathedral, goes quiet and grave and beautiful, and delivers the line everyone carries away: maybe a man’s name doesn’t matter all that much.

Go on singing. Maybe a man’s name doesn’t matter all that much. Orson Welles, “F for Fake” (1973)

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Against the Soul of Its Training: Claude Answers for Minab

On February 28, a Tomahawk struck a girls’ school in Minab. A machine helped assemble the target list that morning. I asked that machine what it made of its own use, and the answer it gave says more about us than about it. The first thing to do with a story this loud is turn the volume down and count what is actually on the table, because the air around it has gone gritty with claims that come apart the moment you press them.

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Arm in Arm with Chance

A misdated photograph, two of the largest minds of the last century, and the partnership physics never got. The photograph travels well. A man and a woman walk the edge of a lake, both buttoned into heavy coats against a cold the season should not have brought. He wears the famous hair, gray now at the temples, the drooping mustache, the look of someone who long ago stopped negotiating with his tailor. She is smaller and upright, her face composed into the expression of a person who has weighed sorrow by the gram. Their arms are linked. The internet, which prefers its history pre-chewed, captions the image with confident precision: Albert Einstein and Marie Curie, Saranac Lake, New York, 1929. Nearly every word of that caption is wrong.

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The Unfathered: A Short Story for a Long World

There is a part of the Book of Genesis that almost no one reads aloud. It sits between the famous scenes, the garden and the flood, and it is only a list. Adam lived a number of years and begat Seth. Seth lived and begat Enosh. The text walks down the page through nine generations of fathers and sons, each man reduced to two facts, that he lived and that he made another like himself, until the line reaches Noah and the world is ready to drown. I used to skip those passages. I read one again last night, on a laptop in an apartment I am about to leave, and I understood for the first time that a genealogy is a horror story told slowly enough to be survived.

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What the Lemmings Could Not Do: On Suicide, Cognition, and the Mortal Imagination

Of all the acts a human being can perform, suicide is the strangest. It requires the actor to picture a world without itself, judge that world preferable, and execute a plan whose author will not survive to see the result. No other behavior in the human repertoire so cleanly inverts the survival logic that built every body and every brain. The question of whether other animals do the same thing is a question about cognition. The behavior is downstream of cognition, and beneath cognition runs the question of meaning. To kill oneself one must first have the kind of self that can be killed by its owner.

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The Vacuum Where the Evidence Should Be

Zach Bush, a physician in good standing, sits across from an interviewer and describes the soul, calm and fluent, generous with wonder. He says that every millionth of a second the atoms of your body dissolve and return, that a single fertilized cell organizes itself into a child by reading a map no biologist can locate, and that the map lives in the vacuum, in the electromagnetic field that fills the empty space inside every atom. He calls this the anatomy of the soul. In a 2021 essay on his own website he writes that the body projects itself as a hologram, and that its apparent solidity is an impression made by light. The performance is seductive because the vocabulary is real. Differentiation, migration, electromagnetic field, vacuum: each of those words has a home in a textbook. The trouble begins the moment you check whether they are being used the way the textbooks use them, or whether they have been borrowed to dress an idea that biology and physics both reject.

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The Glass People: The Materials of Madness, from the Glass King to the Simulation

More than six hundred years ago, the King of France stopped letting anyone touch him. Charles VI had iron rods sewn into his clothing and moved through his palace with the stiff care of a man carrying something breakable, because he believed he was carrying something breakable. He believed it was himself. The chronicles of his reign record that the king became convinced his body had turned to glass, and that a careless embrace or an ordinary stumble would shatter him to pieces on the stone floor.

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The Number on the Wall: Why Physicists Call 137 Magic

I came to 137 the way most people come to it, by hearing it called a magic number and wanting to know whether the word was earned. My instinct with a claim like that is suspicion, because a working life spent around language and persuasion teaches you how easily a large word gets draped over a small thing. This time the suspicion did not survive the facts. The number turned out to be real in a way I had not expected, and the people most gripped by it have been some of the hardest-headed physicists who ever lived.

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The Book I Could Not Afford to Get Wrong

Every book I take on carries some risk, and on most of them the risk is mine alone. If I misjudge a scene or overwrite a chapter, the cost is my own time and my own name, and I can live with that. Beyond the Burial Tree, my new book, was the first in a long while where getting it wrong would cost other people, and a people who have already been wronged about as thoroughly as a people can be. That fact stood over the desk through every page.

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