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Why has Effective Altruism, a philanthropic philosophy built on solving charity like a math problem, become the center of Washington's biggest battle over AI?
From major figures at OpenAI, Anthropic, and Google DeepMind to sharp criticism from defense officials, the movement is facing unprecedented political scrutiny. Senior AI reporter Bea Nolan joins Fortune Daily to break down what Effective Altruists actually believe, why critics claim it threatens technological progress, and what the debate over AI "doomers" means for the future of the industry.
Also on today's episode: 
• Imperia Launch: First Lady Melania Trump rings the NYSE opening bell to debut Imperia, an invite-only network designed as a "Davos for women" connecting female CEOs with global capital and dealmakers. 
• Under the Radar: Business Editor Nick Lichtenberg explores how Gen Z is building wealth with help from parents—and the economic guilt driving families to step in.

Subscribe to Fortune: https://fortune.com/subscribe/ 
Additional images courtesy of Getty Images

00:00 - Why Washington Is Targeting Effective Altruism 
01:48 - Inside the AI Doomer Debate with Bea Nolan 
11:25 - Melania Trump Launches "Imperia" at NYSE 
13:48 - How Gen Z Relies on the Bank of Mom and Dad


Effective Altruism Explained: Why the Pentagon Is Attacking AI 'Doomers' | Fortune Daily

Features

fortunedaily

You know, he said the administration is trying to pin concerns about AI safety and a desire for regulation on this sort of shadowy group of people that yes, has some odd beliefs to distract from the fact that AI risk is actually becoming a really real and much broader public concern. Hello from New York. I'm Ellie Austin and this is Fortune Daily. Americanism not effective altruism. That's what the Department of War posted on X earlier this month. But what is effective altruism? It's a great question, and I have to say I didn't have a clue until a day or so ago. So it turns out it's a philanthropic philosophy pioneered over a decade ago by two Oxford academics, and it's about approaching charity like a math problem. And figuring out how to save the most lives per dollar. Advocates of EA as it is known for short, include senior figures at OpenAI, at Anthropic, and Google, DeepMind. Meanwhile, the administration believes that EA is what's standing between America and global AI domination. Uh, Pete Hegseth has been particularly vocal on this subject, calling EA sanctimonious. So Fortune. Senior AI reporters Emily Fellini and B Nolan have been reporting on how a fringe movement of mostly young, highly educated utilitarians became Washington's favorite AI villain, and B Nolan is about to join me to explain more. The, hello and thank you so much for joining us from London. So I briefly explained in the intro what effective altruism is, but I also explained that I had never heard of this term until two days ago. So I think you can probably be more eloquent. Give us a rundown of what this movement is. So at its simplest, effective altruism is a philosophical movement, and it's this idea that people should try and use like rational processes to try and do the most good for the most amount of people. Actually traces back to 2009 and these two Oxford philosophers, they founded this thing called Giving What You Can, and it was a pledge that you would donate like 10% of your charity, 10% of your income to charity. Um, the idea was to treat like charity and ethics as like a math problem and you would try and figure out what causes saved the most lives or did the most good per dollar spent. Unpack that for me. So instead of spending it on a charity in the US. You could send money abroad and perhaps that would save more lives or do more good. Another big part of this that links to that is this thing called earn to give. So the idea is that you can do more good by making more money, basically pursuing a high career and then giving that income to these really effective charities. In a way it's an argument for capitalism. Yes, it's very linked to the idea of capitalism. It's also very linked to these analytical math problems, right? Like most people don't treat ethics like maths in this way. I guess the issue is it can lead you to some perhaps immoral places. So if you're trying to do the most good. You could justify a lot of things to get to your outcome, so the ends justify the means in a lot of places. Give us an example of how it could, because to me on the surface this sounds this sounds like a good move for humankind. Um, tell us how it could be used immorally or leveraged immorally. I guess it's an older philosophical problem, right? If you could save 100 lives but you'd have to personally kill one person. Would you choose to do that? Technically, EA and utilitarianism, which is what this is based in, would say that the moral thing to do would be to kill that person. OK, now imagine if that person was your mother. Would you still kill that person to save 100 others? I mean, most people would say no, and it would be ethically immoral to do that, but EA technically have taken to his extremes, would say it was immoral not to do. So you mentioned that EA was born over a decade ago at this point. Why is it finding itself in the headlines now and why has it become so woven into the debate over AI and safety? Yes, it is a bit of a wormhole, but there is, they've always been concerned with AI, and part of this is because they're obsessed with this thing called long-termism, which means when you say they, you mean advocates of EA, yeah, people who subscribe to the philosophical movement. They have been really interested in this idea that you need to protect future generations from risk, so they care a lot about things like climate change and things like that. They also were very early adopters of this idea that we've been hearing about a lot that AI could potentially wipe out humanity. Like then stopping that becomes a moral directive, right? You need to make sure AI is safe and engage in safety research and try and steer AI to be moral in order to stop it, to try and stop it trying to murder all of us. And who is our typical effective altruist? Is there a demo that you can paint for us? I don't know. I think I wouldn't want to tarp everyone who believes in this with the same brush. There are lots of different strands of it. Like some people are genuinely just interested about how they can give to charity and perhaps how they can give to charity more effectively. It's really popular in Silicon Valley because it takes on ethics with this really analytical mindset. So like I said earlier, it's like reducing these ethical problems to maths, and a lot of people who work in Silicon Valley and work in computer science like. That is the way their brain works, so they lean more towards that. Yeah, it makes sense. I think I'm right in saying that one of the early advocates of Sam Bankman Fried, the founder of the crypto exchange FTX, he is in prison now for fraud. How much does his character, his trajectory loom over and define the movement at this point in 2026? Honestly, quite a lot. He was one of the earliest adopters. He was also one of the biggest bankrollers, so he was a really good example of this urn to give. So he was like, I'm going to go start this huge crypto exchange program. I'm going to make loads of money and then I'm going to contribute it all back to charity. But obviously, as we know now, in the course of doing that, he committed a lot of immoral acts to get to that end. And then people who criticize EA use that as a very good example of how the means do not always justify the ends. Your sources in the piece suggest that this heightened anxiety around EA that we're seeing coming out of the administration at the moment is really a proxy fight and that going over EA is actually a way to discredit AI anxiety. Yesterday at the UN, President Trump described sort of the doomsday AI argument as a hoax. Do you believe that's true? What did your reporting tell you about this theory? Yeah, I mean, I think one of my sources put it like this, which I thought was a really good way to describe it, you know, he said the administration is trying to pin concerns about AI safety and a desire for regulation on this sort of shadowy group of people that, yes, have some odd beliefs to distract from the fact that AI risk is actually becoming a really real and much broader public concern. So in terms of the administration they're very keen to keep regulation off the table. So if they can blame the push for regulation and the push for AI safety on a small group of people with Outside interests like that might make sense for them. I mean that isn't what we're seeing right now in the headlines. I mean just in the general news agenda, I think it's clear that, you know, Jensen Huang is talking about the need for regulation and so I wonder how much that argument is going to hold up in the coming weeks. Um, EA is a movement that some people right now are a bit reticent to be associated with for the exact reasons that you just described. How difficult was it to get people to talk to you for your piece? I mean, interestingly, not that hard. I had a lot of people who worked in AI safety and were researchers on that and had taken money from EA affiliated charities to work on their early research, and they really wanted to make this distinction that just being concerned with AI risk. mean that you're an effective altruist. Like there are lots of people who take this very seriously as an academic issue and sort of by virtue of EA being one of the only people funding research like this, they ended up being quite involved with it, but that doesn't mean that these two things should be lumped together. There's a bit of a tension as I understand it, because on the one hand everything we've been talking about over the past few weeks on this show and beyond is that these AI companies don't care about our future. They don't care about our safety. But now EA posits that actually there's people working at high levels of anthropic and open AI and DeepMind who do really care about the future of humanity. And that's why they've chosen to go into the AI business. I mean, it's interesting. I think one of the criticisms here that might make sense is that AI gets criticized a lot for focusing way too much on these long term risks that might never actually happen. So I think you've heard people say, you know, there's a 10% AI chance AI might wipe out humanity. OK, well there's Much higher percentage chance that it might be used to spread misinformation. It might be used for mass scale hacking, and by focusing on these longer, almost sci-fi risks, they get accused of overlooking these more immediate ones, which a lot of the people in the lab, in the labs, they're very concerned with existential risk. So what actually is the outlook on regulation right now? Has anything actually shifted since Jacob Coxon resigned from? A couple of weeks ago and published that very controversial essay post. I think the main thing is, as I'm sure you've seen, we've all seen is that the public concern about AI risk has really skyrocketed and people in Congress have been responding to that. There has been a push from both Republicans and Democrats to get some regulation on the table and control some of this stuff. It doesn't necessarily mean there's going to be this slowdown that people are asking for, but maybe there's a sort of Consensus forming that having some rules around this technology if it is so dangerous wouldn't be the worst thing in the world. You mentioned um effective altruism charities a moment or so ago. If people want to find out more about this, where should they look? What are some of those charities? One of the main ones is um open philanthropy, and that later became Coefficient Giving. Um, they were founded by one of them was founded by one of the co-founders of Facebook, interestingly, so they do have deep roots to Silicon Valley. Um, yeah, you could find you they disclose their funding and where it goes, so you could look into um their disclosures around that. Um, but generally they have steered a lot of their funding towards addressing these existential risks, so you'll find effective altruists and effective altruist money popping up in lots of places when it comes to AI safety and also AI pro AI regulation. Thank you so much for explaining this weird and wonderful world of AI effective altruism to us. Speak soon. Thanks, Ellie. So that's First Lady Melania Trump ringing the opening bell at the New York Stock Exchange this morning, and the exchange is serving as the backdrop for her newly launched initiative, um, which was announced last night, and it's being framed as quote a Davos for women. So what is it? Well, it's called Imperia, and it is an invite only network for. Female CEOs and C-suite leaders with the goal of supposedly connecting the people who move capital, who make deals, and who shape policy. Here at Fortune, I lead our most powerful women summit, uh, which has been going on for almost 30 years now, bringing together women from the most powerful companies globally. And I'm often asked whether in 2026 we actually still need a business conference with only women in the room. My answer is women currently run around 15% of Fortune 500 companies, 15. Now, believe it or not, that is actually a record, but it is still a woefully low number. So yes, I believe that until leadership of the world's largest companies inches closer towards parity, we do indeed need to bring female CEOs and other senior leaders together to share insights and to Discuss the unique challenges that they still face en route to the corner office. With all of that in mind, I applaud the First Lady's intention, um, even if it is dissonant with her husband's pretty firm rollback of DEI policies across corporate America and also across the military and more. At this point, additional details on Imperia are thin, so watch this space, it will be interesting to see how it evolves, who gets involved, and whether it actually leads to concrete deal flow, to investment, and to real opportunity for a diverse lineup of female leaders. Contrary to popular opinion, Gen Z isn't giving up on building wealth. They're just leaning on mum and dad to do it, and parents are feeling guilty about the economy that they're handing over to their kids. Business editor Nick Lichtenberg has the story in Under the Radar. Nick, hello. So on Monday you went to the release of the US bank's, uh, newly released 2026 wealth report, and it's really fascinating what it showed us about, I think how Gen Z are thinking about wealth accumulation. There's this common thinking that actually Gen Z don't care about becoming rich. Um, they are out there enjoying real life experiences and big iced coffees, um, for $8 a pop. Is that true? Is that what this data shows us? No, so the, the, uh, executives at US Bank, similar to other sources I've talked to, are totally different organizations, they've said like Gen Z really is just not that different when you really look under the hood and you ask them what they want and what their aspirations are and what their strategies are. Like the economy is the thing that's different. Gen Z is, is no different from any other generation in terms of what they want. They want to build wealth and they want a good career and I had a separate report out from Boston Consulting Group saying if you look closely, Gen Z is actually doing better than previous generations did at the same age, but it just doesn't feel that way to almost anyone. By what metrics are they doing better? How do we explain that in terms of the wealth they've accumulated at a young age, but I think because We feel like iced coffee, for example, is so expensive. Like you could spend $8 on an iced coffee without realizing it. Just things feel so expensive and so the US bank executives said, I asked them actually is the bank of mom and dad still a thing? It's kind of a cliche that Gen Z, you know, they moved back in after college and they're still relying on the bank of mom and dad, and they said, yeah, that's a real thing, uh, that they track, um, and that it didn't come through. In quite these words, but one of the executives said that there's a guilt feeling that parents have about, you know, sorry we handed this economy that's so expensive over to you guys. And so how does that guilt manifest? What do they give to their children if they're able to? I think it's a lot of general spending money. Like people in their early twenties, they feel less stigma asking for this, and parents feel less stigma giving it to them. Um, that's interesting, um, and the bank of mum and dad is, is nothing new obviously. So did we millennials not depend on it? What does the data show? I mean, I feel like if you spoke to my parents, they would say it was also a thing when we were in our twenties. Yeah, I think there's, there's some of that and you know, millennials were known for burning ourselves out and for hustling too much and for being a little workaholic and Gen Z, we, we do have lots of different indicators showing that there's a different mentality around, uh, boundaries between work and life and. I would say millennials had an unhealthier sense of that. What shock does Gen Z have about home ownership, for instance? So that is the one area that everyone identified as a real problem. Like the average starter home cost is way over 350,000. I think it's close to 400,000 across the country, across the country, and That's the one area where the economy, like viscerally it feels so, so unaffordable. We have Gen Z watching. What are the main takeaways from the report and what should they be doing right now with the money they do have available to them to maybe target owning a home within the next decade? Yeah, I would say that, um, so some of the executives said Gen Z surprised them with how conservative they actually are. And I asked them if financial nihilism, which we hear about, is a real thing, financial nihilism is this phrase for Gen Z's love of cryptocurrencies and alternative investment prediction markets, meme stocks, um, even Pokemon cards, comic books, um. Really affluent Gen Zers buying dinosaur bones we hear about, uh, but I asked, is this really a thing, and the executives said, you know, at the fringes there's more interest, a little bit, but by and large, no, that is not a thing, and Gen Z wants the same thing that any generation wants and the housing market, you know, we're living longer lives. Invest wisely and conservatively and kind of pay your dues, and you will eventually get your chance to get into that. The housing market and all the other markets that adults belong to and maybe give up on the dinosaur bones. Yeah, maybe dinosaur bones maybe for a very niche niche group. Where do you buy a dinosaur bone? You know they have auctions at Sotheby's for dinosaur bones. Fascinating. Of course everyone wants the T. rex, but there's only a little bit of those. A segment for another day, Nick, thank you. That's it for Fortune Daily. I'm Ellie Austin, please remember to like, to subscribe and to let us know in the comments on our YouTube what you thought of today's topics. I'll see you tomorrow.

This year’s energy crisis is a stark reminder that Asia remains reliant on Middle Eastern oil and exposed to the chokepoints and conflicts that affect its supply—even as China leads the world in clean-energy innovation and manufacturing. Can the region reduce its dependence on fossil fuels and reach peak oil demand as soon as 2030? Converting Asia’s technological edge into long-term energy security requires an alignment of capital, manufacturing capacity, infrastructure modernization and political will, alongside continued technological breakthroughs. Three leaders in the sector discuss the steps needed to accelerate the transition before the next shock inevitably occurs.

Haitian Pang, Chairman & CEO, JX Intelligence 
Youyuan Huang, Executive Vice Chairman and General Manager, BTR New Material Group 
Fang Wang, Executive Editor, Shanghai, Fortune China 

Accelerating the Energy Transition

Conferences

OK, so this discussion will be conducted in English, in Chinese, so please refer to our headset to listen to our smart translation. Well, actually, so, actually, when we see that Asia, this is a huge market, even though we have very well developed new technology, but still Asia rely on the petroleum and energy from Middle East, which lead to some problem of the security. So now we invite the three distinguished guests to have the discussion. And 3, all of them coming from mainland China. I would like to share something of their background with you. So, They are, they, they are coming from the energy industry. So they also focus on the innovation of new material, etc. So today, I mean, one of the top topic is not the overcapacity, is the safety or how to have a better utilization of the recycled or new or green energy from China. So we would like to invite the three distinguished guests to share with us. So, first of all, I would like to start from Daniel. So Daniel, Daniel Liu, the vice president of Ginola. So please share something with us, something the background and also the situation of the energy, the energy transaction. So that happened in Asia. OK. Thank you. Well, in the past decade, I have run all over Asia Pacific region, over 20 countries and regions. And yeah, I saw a lot and also I interviewed a lot of people. And I, I'm glad to share with you that the transaction of energy in China is quite successful. It's something I sometimes I'd like to use the word radical. It's quite radical, but it's quite successful. We got some data. So for example, now, the power generation is over. 1.5 trillion uh 10 trillion, oh sorry, it's not 1. something, it's 10 trillion kilowatts. So it's quite huge. Such kinds of the big power generation amount is not just coming from the coming from the petroleum or coming from the coal or charcoal, etc. And a lot of them coming from the voltavoltaic. So it's coming from the solar energy. So as being a traditional coal user, charcoal user, petroleum user, China make a big step forward compared to India, you know, India got also the same population over 1.5 billion. So in the past, India also invest a lot in order to realize the energy transaction. But because of, I mean, technology or something. That the transition of the energy structure compared to China, India is left behind. Let's look at Southeast Asia. So for Southeast, for example, like the Philippines, Philippines, it owns over 7000 islands, similar to Indonesia, they also have a lot of demand. But how to combine the fossil energy together with the future, for example, the, the wind energy, right on the ocean, the wind energy got a big potential. This is something we need to consider as a big market for us. OK, thank you. Next, we'd like to invite, uh, Mr. Fang from battery. So. So, so, so, so that uh we know that you, you, you, you're focusing on the development of the battery technology. So I would like to ask your question that uh what is your idea about the development of the energy storage, energy storage, and what is your current development in China? And what the comparison between China and the other countries? In perspective of the technology development of the energy storage. OK, so the energy storage technology acquired a big growth in the past 3 years. According to the current data at the end of this year, that we expect to export over 1000 big units of the energy storage. There's over 1000 big scale, big scale energy storage units were exported from China to the rest of the world, to the other country. So that means that all, all, I mean all the industries or the government also that put a big attention to the energy storage technology. So because of what, a lot of things, number one, it could help to reduce the cost of energy, right? Yeah, #2, it could provide a stable power supply. For many countries, power generation is only #1, but #2, but power generation, you generate the power, but it's not stable, right? So the peak, you at the peak and get the value. So the peak supply and value supply, counterbalance them. So the energy storage. That unit could help to balance the two. China already established a complete industry chain. It's very reliable and of course it's quite competitive. It's affordable for many countries, for many players to import the facilities of their energy storage from from China, especially Southeast Asia. And China also a lot of the energy storage unit maker, they also shift their production line from mainland China to Southeast Asia. Indeed. Quite popular, yes. So go to Southeast Asia. Now this has become very popular because of the demand, you know that's the power supply is not very stable in Southeast Asia. So but if they want to build up a big power grid, the investment will be huge. So if they import the power energy storage unit from China, they can save the cost. And they also can control the power cost for household. Yeah, so for Gino, your company, your power generation, and also another one, OK, Dr. Huang, on behalf of the energy storage and Haikian is on behalf of the smart grid, smart energy application, right? So all of you doing something about the physical infrastructure or physical products. So it sounds like you're very, I mean, physical guy. I want to ask you physical guys that today, you know, the power grade, it's become more complicated and sometimes it's out of your way of prediction. So because you see that before we generate the power by burning the coal, charcoal, or burning the petroleum. Now, we have different sources of the power generation, right, from solar, from wind, from everything. So we please explain to us how could we have a better Uh, balancing technology or good application technology to the balance them. Make sure that people could utilize the power more in a more effectively. OK, yes, for human being, now, you know that we also, we, we, we, we live in a different region, right? So some of them live in, uh, like in Southeast Asia or or at the coastline of uh uh of the continent, and some live in the rural area or in the mountainous area. And also, for example, in the northwest part of China, so that the wind is strong in the in the desert or around the desert, right? So, if we supply the power from the south or north or east to the north northwest, it costs a lot of costs a lot by uh transporting. Transporting those power from the east to the west, from south to the north. Uh, and also the inspection. But before we ask the human being to do the inspection along the whole transportation line of the power, and it costs a lot, right? And the symptoms are quite dangerous. For example, in the extreme climate, in the rainstorm, in the snowstorm, if we ask the staff to go climb up. Come up to do the inspection to the power transformer or the transportation line, etc. wow, you know, that's quite dangerous. But now we, we have the AI, we have the robots to do it, right? We have the UAE to do it, the drone to do it. And then we also get the Power generation sources also become greener than before. We have the solar energy. We have the wind energy, etc. so that the whole industry becomes complicated. Therefore, we need to develop the power management system or the control center that is a smart center could allocate the resources, allocate the power resources. Amount the big to the power grid and then make sure that people when they use their solar panel to generate power, they can get the return from them at the same time, they will go to utilize the power conveniently. So yeah, that is really quite great. So what you have mentioned has come to a new topic, which is quite hot right now. We say it collaboration of computing power, electricity power. So that is something we always say in China. So on one hand, For one hand, we use the electricity power to guarantee the computing power. On the other hand, computing power will help the power generation to be smart generated. So for example, the computing power can help the electricity to do the peak shaving. So I'd like to ask you, Daniel. So, um, from 2026, the new computing center. Um, built in China show. At least consume 80% of green electricity. So the electricity should be green electricity. Is that a burden or is that the opportunity? So for for Jino Solar, are you start to sell the solution rather than just sell. Uh, component part is that burden or opportunity? Well, I think that is very inspiring and for us, we are doing that right now. So just like Mr. Wang said. Asia Pacific region. has been very unbalanced in terms of new energy. And AI will be a very good tool to address the imbalance issue. So we know that in China, we have data center. Um, in the eastern part of the country, but the computing power should be built in the western part of China. So for example, we build a center in the western part of China because the energy cost is much lower and the energy is more enriched. So in China, there's a line that draw from the southwest of China to the northeast of China. And in the east part, there are a lot of companies, so consuming power is very strong and they need a lot of computing power. But in the northwest part of China, which has less population, less industry, less demand. But more energy. So right now, for example, we have the ultra high voltage project. So we use the ultra high voltage project to transmit the power from the west of China to the east where the demand is. Yeah, and in the future with AI we can do the peak shaving. We can adjust the Uh, power Yeah, so the energy storage demand is also going up with the computing power center. So I would like to ask Dr. Huang, so you know that the energy storage accounts for over 40% in terms of the facilities relating to AI. So what kind of material do we need for energy storage? For your company because VTR is making new materials. How do you think about the new materials? Well, AIDC. Energy storage comes from two parts. The first one is UPS system to guarantee very stable supply of power generation. And this system has very strict requirements for the volt, for the volt, um, fluctuation. And then with AI technology, and every time when the power fluctuation happens, The AIDC needs the battery to do the instant response. Even within milliseconds to ensure the stable supply of power generation. Otherwise, if we lose the data. Yes, several days ago we saw a lot of LLM shut down because of the fluctuation of the voltage, right, from of the boat. Yes, especially during the 11 when a lot of people are using their technology to buy the products. So it will have very big challenge on the supply of the power. So this requires very Um, very high demand on the new material for the stability. So it has a high requirement on the material. OK, besides lithium, you're also working on R&D of some other materials like the sodium, etc. Will that be used in the AIDC? Yes, of course. Because, The sodium ion battery has very obvious advantages in the power and also for the thermal. Resistance or or a thermal tolerance, but it has disadvantages in terms of energy density. So for energy density, lithium battery is more ideal. But for the sodium ion technology, I believe that with the industry development, it will be, more ideal choice in the future. OK, so could you please tell us about the AIDC development perspective from China and some other area. So we know that in Malaysia or Thailand they all want to build. AIDC and China has most green electricity and most cheap electricity price. But how about the other countries? Yeah, that is different. Computing power collaborates with electricity? Maybe only happens in China because the demand. And the supply. Well, you know, in China, we can use a lot of green electricity for installation. We also invested in Indonesia, and we know that Indonesia is also built the DC, but based on traditional power generation, maybe thermal power or hydropower. But still, This electricity. are different from China because China is not just for satisfying the demand on using electricity, but also needs to reduce the cost and satisfying carbon reduction. Yeah, so in China, You satisfy the demand for using the electricity, but also needs to be cheap electricity and also needs to be clean and green electricity. So China satisfying three goals together. OK, so how about you, Hai Xian? A lot of people said that, um, Silicon Valley started to talk about China, Wullan Tabo. We know that Wullan Tabo is a place that built the first Energy integrated adjustment platform. So are you also making the deployment in Wulan Chabu in the Mongolia of China? So how does that realize the peak shaving? So why do you think that the Silicon Valley people are so fascinated about that? Well, Wulan Tabu is a very typical case about China for computing power collaborating with electricity generation. A lot of AIBC were built in Wulan Tabu, um, essentially have infrastructure. I think that the biggest cost is coming from the electricity power itself. So in Wulan Tabu, it enjoys great solar power and wind power. So here, You can use very low cost of wind power or solar power to support AIDC. But for AIDC, Well, it has its own problems. So for example, uh, for training, it can wait a little bit for for training, but for Interference and reasoning, AIBC needs to do that instantly, right? And maybe not at night, right? Because only in the daytime you have the solar power. And then for the wind power, you cannot predict the wind power. Uh, you need a smart brain to understand about the physics and the geography of this area. And to predict what kind of energy storage it needs to install to ensure the comprehensive electricity cost to be the lowest, yeah, stable, clean, low cost. And uh AI brain should be important because the upstream is uncontrollable and unpredictable and downstream means you should be more ideal and flexible. So you need a smart AI brain to satisfy the needs both upstream and downstream. AI can play a vital role. Well, so why do you always call physical AI brain? Physical AI is that different from AI? Well, we say physical AI. Physical AI means to understand the physical world and physical rule, including meteorology, including the weather, including the economics. OK, physical AI brain needs to understand the physical world. Yeah, it should simulate the world, understand the world rule. OK, Doctor Huang. China is a leader definitely. But there are still a lot of challenges China face. Would you please talk about some pinpoints in China challenges, particularly, for example, like excessive and excessive supply. So when you come to other countries, like Malaysia or Southeast Asia, do you think they can Bypass our challenges. So for example, some challenges only faced by China, but they don't have such challenges. Well, I think that they can learn the lessons China has has encountered. In other countries, maybe they could not make as big infrastructure as China. Yeah, China has very big infrastructure. Yeah, in other countries, maybe. They need to make the plan and layout based on their own development stage. For example, distributed energy system is more suitable in Southeast Asia, and they can use the low cost energy technology. For example, in Southeast Asia, and some least developed area, distributed energy system is more suitable. So we are also promoting that in Indonesia and Morocco. We work together with the local government to build the energy generation plant and to promote the green use of energy and to the local government we can help them to improve the energy usage. OK. When a Chinese factory open another site in Southeast Asia, you work together with the local government and make the distributed energy system. Will that benefit the community? Yeah, of course. Especially in some countries. The resources of green electricity is abundant. And we're also very happy to see that some country make the national program to promote green electricity. So Haitian, you mentioned about Saudi Arabian 2030 vision. Do you make some deployment in Saudi Arabia? Because Saudi Arabia is a traditional petroleum country, but they also have the energy transition goal. Can you talk about Saudi Arabia 2030 vision? Well, A clean energy transition or lower cost energy transition is continued. This trend is continued. And from our side, First of all, China is leading in the technology. And we guarantee that stable supply and lower cost of supply for electricity. And In Saudi Arabia, even the country is traditionally thrived based on the petroleum, but it also has the ambition because In the desert, in the desert, they enjoy greater solar power. They enjoy greater sunlight. And also in Saudi Arabia. They are quite innovative as well. They think that even we have enough fossil energy, but for the future and sustainability, we need to make preparations. So They build AIDC as well. I think Saudi Arabia is quite an amazing country and I know those people have great mindset towards green electricity. And we also see that in some Southeast Asian countries in some Middle East countries. They are interested in our physical AI products. They would like to talk to China. They would like to accept the Chinese technology. I think that in the future, um, these green transition will be globalized. OK, we know that Jinco so far is still just uh suffering from one thing is that the overcapacity of the this industry. So still that the solar power, I mean the solar power, uh, this industry is still in the in the valley, OK, so we don't know what it can go out of this valley. Would you please analyze something about the whole the Asian market. So how the other countries in Southeast Asia sector would avoid this problem like China, right? The photovoltaic, photovoltaic power overcapacity of the production. Yeah, OK, so in order to avoid the overcapacity of the production like in China, I think this question, it must be, I mean, be aware. So number one. So #2 is that this is about the energy transaction, right? So that's, for example, that if there is abundance, there is abundance uh solar energy resources in one place, for example, like in Ningxia. So the government should have a better plan, the plan in advance and then to core the participation from the enterprises step by step. Otherwise, that if everybody joined into that channel and they step in China. Then it will cause a problem overcapacity again. So that even you go to some other like countries and regions, they would not work like China. So for example, like in Pakistan, over 60% of 60% of the agriculture irrigation were moved or driven by the PV by the solar power. Solar power to the agricultural irrigation in Pakistan over 60%. Yes, it's true. You know, Pakistan used to be, I mean, lack of the water, right, water resources, and then the irrigation costs were high, but now they import the solar energy technology from China and then to help them to support the agricultural irrigation. So they they reduced the cost a lot and another successful case study also happened in South Asia, the Philippines. And also that's, I mean, the cost reduced a lot. So I think in the period of the energy transition, so that we we have some focus on the safety, and also we have the market potential and also we have some idea how to avoid the overcapacity. Thank you for all your sharing, it's very wonderful. We know that this is a correct route, is a correct right road for us to do the energy transition in Asia. Even though China is a leader, but the other Asian countries and regions, they use, they work on their own way towards the future and we believed in the year 2030, definitely we'll reach the goal of low carbon. Thank you for your wonderful sharing.

Generational shifts are actively reshaping the business landscape.

In today’s episode of Fortune Daily, Business Editor Nick Lichtenberg and Reporter Eva Roytburg join us to break down Gen Z’s massive impact on the workplace. We also dive into the recent leadership changes at Google DeepMind and the demotion of Demis Hassabis. Plus, Fortune News Editor Cat Giono joins the show to discuss the "stay-at-home boyfriend" trend and the surprising data backing it up.


Is Gen Z rewiring how we work?

Could there be a bifurcation in the future of Genen Z and the industries they choose to be in? I think so. They think college is not worth it necessarily. They think I'm a smart person. I can start earning income right now. I can be out in the field as an HVAC repairman, but also a social media influencer at the same time. Hello, you're watching Fortune Daily, and I'm Ellie Austin. So Google DeepMind helped create the modern AI race. Now it's facing a leadership shake-up that shows how fast that race can turn. DeepMind co-founder Demis Hassabis is giving up the CEO title and moving to a chairman role, while Chief Technology Officer Core Kabukolu takes over day to day operations and now reports directly to Alphabet CEO Sundar Pichai. Fortune's reporting shows why this has happened. Number 1, Gemini's next flagship model missed 3 deadlines, but also key researchers left for OpenAI and Anthropic, and employees described burnout, low morale, and a leader who was seldom seen in the London office. So what's the bigger takeaway here for leaders and for their companies? Well, in a fast moving market, a great original idea isn't enough. Because you have to ship, you have to keep your best people, and surprise surprise, you have to be present when the organization is under pressure. DeepMind still has enormous advantages. It has Google's chips, the cloud, cash, and billions of users. But this reorg is a reminder that innovation can't be managed from a distance. Because managers will ultimately be judged on their ability to, yes, manage. Because even in the AI age, if talent feels burned out and your people don't see you in the room, an AI pioneer can end up playing catch up. Coming up, generational divides are reshaping work and reshaping leisure, and we're talking to business editor Nick Lichtenberg and Fortune reporter Eva Royberg about how Gen Z's impact is changing the business landscape. Nick, hello hello. So you cover Gen Z as one of your beats. Interestingly, you also have a lot of Gen Z reporters reporting into you. Um, when you started covering this beat, what was the conventional wisdom about the generation, and remind us who is a Gen Z. Uh, so when I started covering this beat, there was a point in my career where I looked around and realized I was the oldest person in the room, and I had been used to, you know. 1020 years of uh journalism experience like looking up to other people in the newsroom like where were you when 1987 crash happened and they were looking at me like where was I when the 2008 crash crash happened but when I uh started covering this really there was no Gen Z coverage there was all this millennial coverage about avocado toast and like buying a $5 Starbucks was irresponsible and they weren't weren't saving enough and then almost overnight. Gen Z, I think the oldest Gen Zer is now 29, and so 56 years ago they were the 23-year-olds, 24-year-olds in the office, but it became they were the, the sequel to the millennial story, and I think that's what's fascinating is that they subvert a lot of the millennial stories that we've been hearing for the last 10 or 10 or 12 years. In what way do they subvert them? I think they intentionally subvert them. I mean, in my experience managing Gen Z is that they like to, uh, roast me, I think is the term, so there was lots of just mockery of every little thing about me from like the way I would sit at my desk to the things I liked reading and covering and. You know, movies I would go see, music choices. I mean, you do sit with your feet up at your desk a lot, so that's fair. I've got long legs. So, OK, so they have, they kind of like to debunk authority a bit anecdotally we've seen in our office. Um, what do the stats show about their role in the workforce and how all the data about how they think about employment? I think this has been an evolving story and a lot of it is around that kind of two year. Uh, snap, so to speak, uh, like a, like in the Marvel Studios there was a snap and everything kind of vanished and then came back together years later and we lost these two years to COVID and so many of us were working remotely and Gen Z, depending on where they sit within the generation they were in high school or college or starting their first job and what I experienced was a lot of hunger for mentorship relations in person. Uh, in-person kind of experience working alongside me and learning from me and then teaching me things too. I've learned so many things from all the Gen Zers I've managed through the years and that has been a change where. Remote work was considered kind of the future at one point and there's been all these debates about the remote work war as we call them sometimes and CEOs trying to bring workers back and really increasingly the last several years, Gen Z wants to be in the office, which is kind of counter to what the public narrative has been at points, and I have a lot of empathy for them that they emerged into the workforce, many of Gen Z at the time of the pandemic. Alongside their trajectory through the workforce, we're also reading a lot about how Gen Z are approaching finances and leisure time more generally. How are the two interlinked and what does this mean for the future of corporate America? I think they want what everyone wants. They want to succeed and they want that pokey kind of American dream thing and. So I mean it's a rude awakening when you're managing someone who was born after 9/11 or who was in grade school when the 2008 crash happened. And they've, they've grown up in this world that's been just very uncertain and chaotic from as long as they can remember. And starter homes have gone up. This stat is so striking to me, 87% in price since 2019. So when you say they want to succeed, is their definition of success different to the one their parents held? Yeah, I think that they're redefining that, and that's what's so interesting about the story, like the millennial story. Is that success was still kind of possible on the old terms if you hustled a lot and then burned yourself out trying to attain it and Gen Z seems to have decided very early on maybe I'm never gonna have these things that were traditional markers of success, so I have to redefine it on my own terms and a lot of that is kind of crap. A lot of those stories are kind of crap anyways and so what do you mean by that? I think when society has told them. Like it's too affordable to achieve this thing that everyone else should achieve by this age. They have, they seem to have concluded, well, we don't want it anyways. We're going to define for ourselves what success looks like. And does that mean leaving corporate jobs, because one thing Gen Z are wrongly or rightly, who knows, accused of is being disloyal to employers in the way that previous generations may have stayed in a job forever. So how does that translate into. Them as employees, there's a lot of evidence, and we've just reported on this recently with Bank of America credit card data. Um, there is no K-shaped spending divide within Gen Z, which means K-shaped means, uh, uh, just a split between wealthy and lower income. And wealthy and lower income Gen Zs are both spending as much as they, um, at equal amounts and their spending saving ratio is exactly the same and the evidence seems to indicate that they're all turning to side hustles and non-traditional ways of bringing in income to keep their spending at the level that they want it to be at and so. Yeah, it's, it's an unconventional and untraditional response to a pretty unconventional and untraditional time they're living in. They're living in. The New York Times recently reported on the spike of Gen Z going into trade schools, and yet at the same time we're seeing the generation adopt AI relatively steadily. So could there be a bifurcation in the future of Gen Z and the industries they choose to be in? I think so. I've talked to several of these entrepreneurs and they're. Really interesting because they. They think college is not worth it necessarily, they think. I'm a smart person. I can start earning income right now, but also I can be out in the field as an HVAC repairman. I'm thinking of one person I profiled last year, but also a social media influencer at the same time, so they're on site and they're taking videos of themselves and selfies and shots of their work and they're, they're telegenic and photogenic. And they are generating an income stream off their YouTube channel at the same time that they're out in the field making a living off of a very old school blue collar trade and so I think that kind of sums up the attitude and a lot of them have grown up thinking I'm old enough where a rock star was a cool thing to be and I think YouTube influencer content creator has replaced rock stardom and there's. A commercial aspect to it which was not really part of getting on stage and playing a guitar. Well, what feedback do you get from Gen Z to your stories because you obviously are not a Gen Z. Um, Shocker, you sit on the cusp, I believe, of G Gen X and millennials. I'm a millennial, so what's the feedback been like? Well, I actually asked for it at one point. I said I wish I got more Gen Z feedback like that. I write about you guys. I know a lot of you guys. I'm sympathetic. Maybe it doesn't always seem like I'm sympathetic in my reporting, but I really am and. One email that really stuck with me was about a lot of anger. Gen Z's angry about the way things are and they feel a little powerless and so a lot of their behaviors are kind of barely covering up all of that anger. Angry about the economy, angry about global warming is a big one. I mean, Greta Thunberg is a very famous sort of Gen Z avatar and. She's just really angry about the world she's inherited and she's trying to do something about it and politically as well. Um, what headlines do you expect to be writing about Gen Z in 5 or 10 years when they transition into management roles? Well, millennials are the majority of managers I reported on last year and uh that was Glassdoor data, I believe, and. They've become a sort of cliche as they've become managers. I think that the, the toxic frenemy is the, uh, the millennial identity as a manager where you, uh, are very friendly with all of your reports until all of a sudden you're not and you don't, you're unclear about your expectations and you have no work-life balance yourself and you're stressing out your whole team while, yeah, you're burning yourself out as millennials are famous for doing and I just think Gen Z is gonna reject all of that. Um, they've been very refreshingly casual, I would say in a lot of their behaviors, but there was great reporting in The New York Times this weekend and in fashion magazines about the return of loafers to the, the Gen Z identity. I mean, I wear sneakers, which makes me a boomer basically, um, so I think that there's gonna be an inversion of a lot of the things that millennials have added to the workplace. Nick, where can people find more of your reporting? Fortune.com. Thank you for joining us. I'll let you get back to your Gen Z team. OK, thank you. So Eva, I didn't feel that we could have this whole conversation about Gen Z without bringing a Gen Z into the room to answer for everything that Nick and I were talking about. You were sitting here when we were chatting. Give me your unvarnished response to everything you heard. I think, I think Gen Z shouldn't be pathologized as every other generation is. Like people called millennials super self-obsessed before boomers were like. The me generation, I think Gen Z, it's easy to cast us as like downtrodden, you know, financial crisis and then pandemic, but I think actually the data suggests that we take a lot of economic power into our own hands. Like during 2021 to 2023, the famous David Autor paper showed that we had increased wage gains and in fact we shifted sort of the power of a tight labor supply to us. Institutions sort of failed us like the. Colleges got way too expensive. The return on the degree is not worth it. Often employees, we find employers are quick to lay off. And so we're now we're solo entrepreneurs. Now we job hop. Now we have all of our side gigs or we're like betting on prediction markets. Like that is very much a generation that is taking control in of itself as opposed to just being subject to the whims of the economy. So what headlines would you like to see someone like Nick writing about Gen Z that he isn't yet? I think I would like to see more about the Gen Z soul entrepreneur. He's also your boss. Yes, well, yeah, well, Gen Z, Gen Z is famously casual, doesn't care about, about these relations, but, but I do care. He does good stories about like the, you know, the 24-year-old woman HVAC professional that like gets all of her clients through TikTok. Like stories like that are excellent. Examples of how we take into, we take conditions into our own hands. We are the head of the AI boom. We were the head of the crypto boom. We take matters into our hands 1100%. So do not me Gen Z. Eva, where can people find you? You could find me on Instagram, E V A R O I T, or read my articles on Fortune.com. Thank you, Eva. Thank you. Next up, Under the Radar with Kat Goro. So the stay at home boyfriend is someone who has either intentionally left the workforce or someone who has either never tried or really has felt dejected that they wouldn't even be able to get into it in the first place. So, when I wrote that headline, I kind of knew exactly the reaction I was hoping to get. I remember saying, OK, stay at home boyfriend because it's not a joke so much so as a Federal Reserve data point. Women On the other hand, happen to have more, let's say, humane, more social jobs. So a large majority of nurses are women, a large majority of teachers are women, a large majority of really like healthcare workers and of, you know, home health aides are women. This is a non-temporary adjustment. Only 3 times it's happened in history. Once during the Great Recession and right before COVID. Since 1990, we've had 7 million jobs where men outnumbered women, and now that's gone to basically zero and has almost, well, actually has, has over surpassed that. We are starting to see men try to go into usually women dominated fields. So again, teaching or nursing, we might start seeing That happen more often, but we also start seeing the opposite too of women going for male dominated fields. So they're going further than the nurse's degree. They're getting their doctorates and becoming surgeons, for example. So it is a weird mix. We don't know what's going to happen in the future, but we do know for the next 15 years, according to Laura Ulrich, the economist at Indeed, that it's not going to be a temporary thing like it happened the last two times. It's going to be permanent. Women will outnumber men. That's Fortune daily. I'm Ellie Austin, see you next time.

The White House finalized a framework for how it will test new AI models for cybersecurity risks — but will keep details of the framework private. Also, Google Deepmind CEO Demis Hassabis shifts role amidst a leadership shake-up; and AI companies are scanning and destroying books through a process known as “destructive scanning.” Fortune AI Reporter Bea Nolan and Senior AI Reporter Emily Forlini break down the biggest AI news of the week.

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