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In fact, the news from Wall Street lately has mostly been about retreat from climate goals, rather than recommitment. Banks and asset managers are withdrawing from international climate alliances and chafing at their rules. Regional banks are stepping up lending to fossil fuel producers. Sustainable investment funds have sustained crippling outflows, and many have collapsed.

In some cases, it’s a classic prisoner’s dilemma: If firms collectively shift to cleaner energy, a cooler climate benefits everyone more in the future

in the short term, each firm has an individual incentive to cash in on fossil fuels, making the transition much harder to achieve.

when it comes to avoiding climate damage to their own operations, the financial industry is genuinely struggling to comprehend what a warming future will mean.

A global compact of financial institutions made commitments worth $130 trillion to try to bring down emissions, confident that governments would create a regulatory and financial infrastructure to make those investments profitable. And in 2022, the Inflation Reduction Act passed.

What about the risk that climate change poses to the financial industry’s own investments, through more powerful hurricanes, heat waves that knock out power grids, wildfires that wipe out towns?

“If we think about what is going to be the best way to tilt your portfolios in the direction to benefit, it’s really difficult to do,”

“These will probably be great investments over 20 years, but when we’re judged over one to three years, it’s a little more challenging for us.”

Some firms cater to institutional clients, like public employee pension funds, that want combating climate change to be part of their investment strategy and are willing to take a short-term hit. But they aren’t a majority

And over the past couple of years, many banks and asset managers have shrunk from anything with a climate label for fear of losing business from states that frown on such concerns.

On top of that, the war in Ukraine scrambled the financial case for backing a rapid energy transition. Artificial intelligence and the movement toward greater electrification are adding demand for power, and renewables haven’t kept up

All of that is about the relative appeal of investments that would slow climate change

If you bought some of the largest solar-energy exchange-traded funds in early 2023, you would have lost about 20 percent of your money, while the rest of the stock market soared.

There is evidence that banks and investors price in some physical risk, but also that much of it still lurks, unheeded.

“I’m very, very worried about this, because insurance markets are this opaque weak link,” Dr. Sastry said. “There are parallels to some of the complex linkages that happened in 2008, where there is a weak and unregulated market that spills over to the banking system.”

Regulators worry that failing to understand those ripple effects could not just put a single bank in trouble but even become a contagion that would undermine the financial system.

But while the European Central Bank has made climate risk a consideration in its policy and oversight, the Federal Reserve has resisted taking a more active role, despite indications that extreme weather is feeding inflation and that high interest rates are slowing the transition to clean energy.

“The argument has been, ‘Unless we can convincingly show it’s part of our mandate, Congress should deal with it, it’s none of our business,’”

a much nearer-term uncertainty looms: the outcome of the U.S. election, which could determine whether further action is taken to address climate concerns or existing efforts are rolled back. An aggressive climate strategy might not fare as well during a second Trump administration, so it may seem wise to wait and see how it shakes out.

big companies are hesitating on climate-sensitive investments as November approaches, but says that “two things are misguided and quite dangerous about that hypothesis.”

One: States like California are establishing stricter rules for carbon-related financial disclosures and may step it up further if Republicans win

And two: Europe is phasing in a “carbon border adjustment mechanism,” which will punish polluting companies that want to do business there.

at the moment, even European financial institutions feel pressure from the United States, which — while providing some of the most generous subsidies so far for renewable-energy investment — has not imposed a price on carbon.

The global insurance company Allianz has set out a plan to align its investments in a way that would prevent warming above 1.5 degrees Celsius by the end of the century, if everyone else did the same. But it’s difficult to steer a portfolio to climate-friendly assets while other funds take on polluting companies and reap short-term profits for impatient clients.

“This is the main challenge for an asset manager, to really bring the customer along,” said Markus Zimmer, an Allianz economist. Asset managers don’t have sufficient tools on their own to move money out of polluting investments and into clean ones, if they want to stay in business,

“Of course it helps if the financial industry is somehow ambitious, but you cannot really substitute the lack of actions by policymakers,”

According to new research, the benefit is greater when decarbonization occurs faster, because the risks of extreme damage mount as time goes on. But without a uniform set of rules, someone is bound to scoop up the immediate profits, disadvantaging those that don’t — and the longer-term outcome is adverse for all.

Freudian psychoanalysis offers yet another account. As Mr. Chopra’s summary has it: “Anxiety is a signal to us that we harbor repressed emotions, desires, and sexuality.”

Finally, there is the idea of “materialist alienation,” advocated by both Karl Marx and Herbert Marcuse. This theory identifies the sources of anxiety in the material and economic conditions of society rather than in the individual psyche:

Although Mr. Chopra, a philosophy professor emeritus at Brooklyn College, notes many overlaps and commonalities in the four approaches, their differences make them inconsistent as a set. It isn’t clear that they are centrally concerned with anxiety at all.

ukkha in Buddhism isn’t usually understood to refer to anxiety but rather to a state of discontent.

Mr. Chopra acknowledges that one of his key existentialist figures, Nietzsche, never uses the term. Alluding to Marx’s alienated labor, Mr. Chopra asks: “What does such alienation feel like?” His answer: “Like anxiety, for it is anxiety.

Mr. Chopra interprets everything through the lens of anxiety and as a result either magnifies its significance or sees it where it is not. He says, for example, that from his own experience he has concluded that being “indecisive, distracted, insecure, or anxious . . . amounted to the same thing.” But for many people those conditions are very different.

Mr. Chopra is a serial user of the “presumptive we”: using the first-person plural to speak for all of us when he is really speaking for some or sometimes only himself.

At times Mr. Chopra writes of anxiety as though it were a key to self-definition, saying, at one point “thus does anxiety inform me of who I am.” Tell me your anxieties and I’ll tell you who you are may sound profound, but replace “anxieties” with “dreams,” “loves,” “hopes” or “values” and it is just as true.

Even philosophy in Mr. Chopra’s view springs not from wonder, as Aristotle and Plato claimed, but from anxiety. However, neither those giants of thought nor others who followed them for centuries had much to say about it

That “anxiety is a basic human affect and signature of human consciousness” is made somewhat problematic, he concedes, by the fact that it only emerged as “an explicitly named and identified problem in the nineteenth century.”

Still, Mr. Chopra is right to want to normalize the anxiety that people really do feel, saying that it is wrong to think that mental health consists in being anxiety-free. His basic therapeutic advice—not to push anxiety away but “to see what it ‘points to’ ”—is also spot-on

his book is a good primer on the major philosophers of anxiety, or at least its close relations.

AIs like ChatGPT rapidly got better in their early days, but what we’ve seen in the past 14-and-a-half months are only incremental gains, says Marcus. “The truth is, the core capabilities of these systems have either reached a plateau, or at least have slowed down in their improvement,” he adds.

the gaps between the performance of various AI models are closing. All of the best proprietary AI models are converging on about the same scores on tests of their abilities, and even free, open-source models, like those from Meta and Mistral, are catching up.

models work by digesting huge volumes of text, and it’s undeniable that up to now, simply adding more has led to better capabilities. But a major barrier to continuing down this path is that companies have already trained their AIs on more or less the entire internet, and are running out of additional data to hoover up. There aren’t 10 more internets’ worth of human-generated content for today’s AIs to inhale.

A mature technology is one where everyone knows how to build it. Absent profound breakthroughs—which become exceedingly rare—no one has an edge in performance

companies look for efficiencies, and whoever is winning shifts from who is in the lead to who can cut costs to the bone. The last major technology this happened with was electric vehicles, and now it appears to be happening to AI.

the future for AI startups—like OpenAI and Anthropic—could be dim.

Microsoft and Google will be able to entice enough users to make their AI investments worthwhile, doing so will require spending vast amounts of money over a long period of time, leaving even the best-funded AI startups—with their comparatively paltry warchests—unable to compete.

Many other AI startups, even well-funded ones, are apparently in talks to sell themselves.

the bottom line is that for a popular service that relies on generative AI, the costs of running it far exceed the already eye-watering cost of training it.

That difference is alarming, but what really matters to the long-term health of the industry is how much it costs to run AIs. 

Changing people’s mindsets and habits will be among the biggest barriers to swift adoption of AI. That is a remarkably consistent pattern across the rollout of all new technologies.

the industry spent $50 billion on chips from Nvidia to train AI in 2023, but brought in only $3 billion in revenue.

For an almost entirely ad-supported company like Google, which is now offering AI-generated summaries across billions of search results, analysts believe delivering AI answers on those searches will eat into the company’s margins

Google, Microsoft and others said their revenue from cloud services went up, which they attributed in part to those services powering other company’s AIs. But sustaining that revenue depends on other companies and startups getting enough value out of AI to justify continuing to fork over billions of dollars to train and run those systems

three in four white-collar workers now use AI at work. Another survey, from corporate expense-management and tracking company Ramp, shows about a third of companies pay for at least one AI tool, up from 21% a year ago.

OpenAI doesn’t disclose its annual revenue, but the Financial Times reported in December that it was at least $2 billion, and that the company thought it could double that amount by 2025. 

That is still a far cry from the revenue needed to justify OpenAI’s now nearly $90 billion valuation

the company excels at generating interest and attention, but it’s unclear how many of those users will stick around. 

AI isn’t nearly the productivity booster it has been touted as

While these systems can help some people do their jobs, they can’t actually replace them. This means they are unlikely to help companies save on payroll. He compares it to the way that self-driving trucks have been slow to arrive, in part because it turns out that driving a truck is just one part of a truck driver’s job.

Add in the myriad challenges of using AI at work. For example, AIs still make up fake information,

getting the most out of open-ended chatbots isn’t intuitive, and workers will need significant training and time to adjust.

That’s because AI has to think anew every single time something is asked of it, and the resources that AI uses when it generates an answer are far larger than what it takes to, say, return a conventional search result

None of this is to say that today’s AI won’t, in the long run, transform all sorts of jobs and industries. The problem is that the current level of investment—in startups and by big companies—seems to be predicated on the idea that AI is going to get so much better, so fast, and be adopted so quickly that its impact on our lives and the economy is hard to comprehend. 

Mounting evidence suggests that won’t be the case.

All the old deficiencies and blind spots of male socialization are still in circulation — the same mass failure to teach boys relational skills and emotional intelligence, the same rigid masculinity norms and social prohibitions that push them away from intimacy and emotionality.

in many ways this environment has apparently had the opposite effect — it has shut them down even further.

The micro-generation that was just hitting puberty as the #MeToo movement exploded in 2017 is now of college (and voting) age. They have lived their whole adolescence not just in the digital era, with a glorious array of virtual options to avoid the angst of real-world socializing, but also in the shadow of a wider cultural reckoning around toxic masculinity.

We have spent the past half-decade wrestling with ideas of gender and privilege, attempting to challenge the old stereotypes and power structures. These conversations should have been an opportunity to throw out the old pressures and norms of manhood, and to help boys and men be more emotionally open and engaged.

in screen-addicted, culture war-torn America, we have also added new ones.

For many progressives, weary from a pileup of male misconduct, the refusal to engage with men’s feelings has now become almost a point of principle

For every right-wing tough guy urging his crying son to “man up,” there’s a voice from the left telling him that to express his concerns is to take airtime away from a woman or someone more marginalized

In many cases, the same people who are urging boys and men to become more emotionally expressive are also taking a moral stand against hearing how they actually feel

For many boys, it can seem as though their emotions get dismissed by both sides. This political isolation has combined with existing masculine norms to push a worrying number of boys into a kind of resentful, semi-politicized reclusion.

Over a quarter of men under 30 say they have no close friends

Teenage boys now spend two hours less a week socializing than girls and they also spend about seven hours more per week than their female peers on screens.

my own research has fed my fears.

the same theme came up over and over for boys who on the face of it had little else in common. They were lonely.

almost all of them had the nagging sense that something important was missing in those friendships. They found it almost impossible to talk to their male peers about anything intimate or express vulnerability.

One teenager described his social circle, a group of boys who had been best friends since kindergarten, as a “very unsupportive support system.” Another revealed that he could recall only one emotionally open conversation with a male friend in his life, and that even his twin brother had not seen him cry in years

they felt unable to articulate this pain or seek help, because of a fear that, because they were boys, no one would listen.

As one 20-year-old put it, “If a man voices any concern, they get deflected with all of their so-called privileges.” He added: “They’d be like, ‘Whatever. Women have suffered more than you, so you have no right to complain.’”

Almost without exception, the boys I talked to craved closer, more emotionally open relationships, but had neither the skills nor the social permission to change the story.

Perhaps it’s not surprising that boys don’t know how to listen and engage with their friends’ emotions on any deeper level; after all, no one really engages with theirs.

in a sexist society, male opinions hold outsized value. But the world — including their own parents — has less time for their feelings.

One study from 2014 showed that parents were more likely to use emotional words when talking with their 4-year-old daughters than those speaking to their 4-year-old sons.

A more recent study comparing fathers of boys with fathers of girls found that fathers of boys were less attentively engaged with their boys, spent less time talking about their son’s sad feelings and instead were more likely to roughhouse with them. They even used subtly different vocabularies when talking with boys, with fewer feelings-centered words, and more competition and winning-focused language.

Spend any time in the manosphere, and it’s easy to start to hate men and boys. The extreme misogyny, the gleeful hate speech, the violent threats and thrum of menace make it hard to summon much sympathy for male concerns, and easy to forget the ways that patriarchy harms them, too.

in the grip of the culture wars, caring about boys has become subtly coded as a right-wing cause,

Men have had way more than their fair share of our concern already, the reasoning goes, and now it’s time for them to pipe down

But for boys, privilege and harm intertwine in complex ways — male socialization is a strangely destructive blend of indulgence and neglect. Under patriarchy, boys and men get everything, except the thing that’s most worth having: human connection.

The prescription for creating a generation of healthier, more socially and emotionally competent men is the same in the wider political discourse as it is in our own homes — to approach boys generously rather than punitively

We need to acknowledge boys’ feelings, to talk with our sons in the same way we do our daughters, to hear them and empathize rather than dismiss or minimize, and engage with them as fully emotional beings.

What is A.I. even for?

“A.I. slop”: often uncanny, frequently misleading material, now flooding web browsers and social-media platforms like spam in old inboxes. Years deep into national hysteria over the threat of internet misinformation pushed on us by bad actors, we’ve sleepwalked into a new internet in which meaningless, nonfactual slop is casually mass-produced and force-fed to us by A.I.

It has already helped drive down the cost and drive up the performance of next-gen batteries and solar photovoltaic cells, whose performance can also be improved, even after the panels have been manufactured and installed on your roof, by as much as 25 percent

while the internet was never perfectly trustworthy, one epoch-defining breakthrough of Google was that it got us pretty close. Now the company’s chief executive acknowledges that hallucinations are “inherent” to the technology it has celebrated as a kind of successor for ranked-order search results, which are now often found far below not just the A.I. summary but a whole stack of “sponsored” results as well.

Where not long ago we used to find the very best results for Google searches, we can now find instead potentially plagiarized and often inaccurate paragraph summaries of answers to our queries

Machine learning may help make our electricity grid as much as 40 percent more efficient at delivering power as it is today, when many of its routing decisions are made by individual humans on the basis of experience and intuition

This month, KoBold Metals announced the largest discovery of new copper deposits in a decade — a green-energy gold mine, so to speak, delivered with the help of its own proprietary A.I., which integrated information about subatomic particles detected underground with century-old mining reports and radar imagery to make predictions about where minerals critical for the green transition might be found.

.I. is designing new proteins, rapidly accelerating drug discovery and speeding up clinical trials testing new medicines and therapies.

perhaps that a more optimistic perspective can be drawn by analogy to what economists call the “environmental Kuznets curve,” which suggests that, as nations develop, they tend to first pollute a lot more and then, over time, as they grow richer, they ultimately pollute less.

Even in describing regular old pollution, this framework has its shortcomings, especially because it treats as automatic eventual progress that has always required tooth-and-nail fights against some very stubborn bad actors

A.I. is generating an awful lot of genuine pollution, too — both Google and Microsoft, which each pledged in 2019 to reach zero emissions by 2030, have instead expanded their carbon footprints by nearly 50 percent in the interim.

But what kind of men were featured? They’re all rich and powerful, and as a longtime fan of professional wrestling, I loved watching Hogan as a kid, but none of them are the kind of man I’d want my son to be. White was caught on video slapping his wife. Kid Rock has his own checkered past, including a sex tape and an assault charge related to a fight in a Nashville strip club. Hogan faced his own sex scandal after he had a bizarre sexual relationship with a woman who was married to one of his close friends, a radio host who goes by “Bubba the Love Sponge.”

We know all about Trump, but it’s worth remembering some of his worst moments — including a jury finding that he was liable for sexual abuse, his defamation of his sex-abuse victim, the “Access Hollywood” tape and the countless examples of his cruelly insulting the women he so plainly hates.

I highlight McRaven for a reason; he has perfectly articulated how to attack MAGA masculinity. Ten years ago, he gave one of the most powerful commencement speeches in recent American history. He addressed the graduates of the University of Texas, Austin, and three YouTube versions have racked up more than 70 million views combined.

It’s known — oddly enough — as the “Make Your Bed” speech. While it wasn’t aimed only at men, every person who forwarded it to me was a man. It appealed to universal values, but it connected with men I know at a deep and profound level.

McRaven draws on his SEAL training to teach students how to change the world. It begins with the small things, like accomplishing that tiny first task of making your bed, because “if you can’t do the little things right, you’ll never be able to do the big things right.”

Republican manliness was the capstone of the convention.

I wonder if Democrats should answer the Republican men’s night with a men’s night of their own — a night that features heroes instead of bullies and showmen, a night that answers the Republican appeal to men’s basest instincts with an appeal to their highest ideals.

Trumpist masculinity is rooted in grievance and anger. McRaven’s message centers on honor and courage.

When you center masculinity on grievance and anger rather than honor and courage, you attract men like Hogan and Kid Rock and White. Worse, that is how you mold the men in your movement, including men like Vance.

Many conservatives rightly decry the way in which parts of the far left tend to use the words “straight white male” as a virtual epithet, as if there were something inherently suspect in the identities of tens of millions of men and boy

if men feel that Democrats are hostile to them, they’ll go where they feel wanted, the gender gap will become a gender canyon, and more men will embrace Trumpism because that’s just what men do.

We aren’t simply electing women and men; we’re electing role models, and Trump has unquestionably been a role model for countless men. He has molded not just the policies but also the ethos of the Republican Party. But America’s men need different role models and a different ethos.

let’s return for the moment to the Navy SEAL who served his country for decades, who helped kill one of America’s deadliest foes and who declared to American college graduates, “You must have compassion. You must ache for the poor and disenfranchised. You must fear for the vulnerable. You must weep for the ill and infirm. You must pray for those who are without hope. You must be kind to the less fortunate.”

The address builds to a conclusion that is alien to Trumpist masculinity: “Start each day with a task completed. Find someone to help you through life. Respect everyone. Know that life is not fair and that you will fail often. But if you take some risks, step up when the times are the toughest, face down the bullies, lift up the downtrodden and never ever give up — if you do these things, the next generation and the generations that follow will live in a world far better than the one we have today.”

there’s a better way for men — for all of us. It’s rooted in honor, courage and love. Or as McRaven put it, “For what hero gives so much of themselves without caring for those they are trying to save?