Let's take a closer look at facts and data. What happened in China (Chart 1): China's AI and chip index lost 40%, about $480B, in four months. In January, Zhipu and MiniMax became the first AI labs in the world to go public. Small investors asked for 1,800 times the MiniMax shares on offer. By May, Zhipu traded at 17 times its IPO price. Then it all reversed. On 22 Oct, MiniMax was worth less than at its IPO, 88% below its peak, Zhipu 77%. Why? 1. China's economy: The governm

Several LinkedIn charts this month rank "best and worst education systems" using the new PISA 2025 results. Most are sloppy at best. One plots Russia, which did not take the test. Another puts "China" on top, when the OECD tested four wealthy regions, not the country. Some use a cost-of-living axis that says nothing about education. So, to get the facts right, I checked the data, in accordance with one of my leadership principles - "Substance: accurate facts and critical thin

When mortgage rates rise sharply, homes become hard to afford even if home prices stop rising. For example in the U.S., the monthly payment has risen 77% relative to income between 2020 and 2025. Like many of you, I worry about the cost of buying a home, for ourselves, for our children or for someone we love. So today's Wall Street Journal op-ed celebrating the rise of mortgage rates, "Hurray for Higher Mortgage Rates", caught my attention. It basically argues that higher rat