This video podcast passionately argues for the reclassification of knowledge as a primary factor of production, alongside land, entrepreneurship, labor, and capital. The speaker underscores this point by highlighting the intense competition among leading technology companies like Meta and Google in the AI era. These companies are not merely acquiring technology or code but are strategically recruiting top talent and integrating knowledge systems, recognizing that the true asset lies within the minds of individuals and the collective intelligence they bring.

The podcast illustrates this with concrete examples: Meta’s aggressive hiring from Apple and its integration of talent from Scale AI and Safe Super Intelligence (co-founded by OpenAI team members), and Google’s swift acquisition of the CEO and R&D team from Windsurf. These actions demonstrate a clear focus on securing “people with the knowledge,” emphasizing that new code can always be built, but the underlying intellectual capital is irreplaceable.

A key characteristic of knowledge highlighted is its unique scalability – it “grows when shared,” making it the most scalable factor of production. This contrasts with the finite nature of traditional factors. Knowledge is presented as a catalytic force that will “change the trajectory of the 21st century,” driving productivity more effectively than physical resources. It is deeply “embedded in people, systems, institution,” manifesting as applied intelligence through innovation. Furthermore, knowledge is the “fuel” for the digital economy, with AI at its core, as algorithms (codified knowledge) drive modern economic activities.

The lecture also clarifies the “duality” of knowledge: it serves both as a “tool” that facilitates new creation and innovation, and as a “product” that can be bought and sold, becoming a valuable commodity in itself. This dual role makes it a central element in the production process.

The broader implications of knowledge as a factor of production are far-reaching. It is seen as a creator of “abundance” and “multiplicity,” opening diverse paths for growth. It generates “leverages” that can fundamentally “shape the destinies of nations,” with firms that prioritize knowledge consistently outperforming their peers. The lecture concludes by asserting that wealth now accumulates where knowledge is best applied, making its acquisition a crucial pursuit for individuals and nations alike in the 21st century.

Download the podcast summary here.

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Once the undisputed king of semiconductors, Intel now finds itself in a moment of crisis—one marked by stagnant innovation, lost market share, and internal reckonings.

In a leaked internal Q&A with employees this week, new CEO Lip-Bu Tan offered a rare, sobering assessment: “We are not in the top 10 semiconductor companies anymore.”

That candid statement, first reported by OregonTech, puts into sharp relief what many in the industry have already suspected: Intel is no longer a leader, but a legacy player struggling to find its footing in a hyper-competitive chip ecosystem dominated by rivals like Nvidia, AMD, Apple, TSMC, and Samsung.

Tan’s admission underscores a multi-year unraveling of Intel’s dominance across virtually every sector it once controlled—desktop CPUs, data center processors, GPUs, fabrication, and even AI hardware.

From Monopoly to Marginalized

Two decades ago, Intel commanded the computing world with x86 CPUs that left little room for competitors. But the company’s rigid reliance on in-house manufacturing and a slow response to emerging technologies allowed competitors like AMD to surge ahead. AMD’s Ryzen and EPYC architectures not only restored competition in consumer PCs and servers—but they also dethroned Intel in key markets.

Today, AMD powers flagship gaming consoles (PlayStation 5 and Xbox Series X), handheld devices like the Steam Deck, and has grabbed a meaningful chunk of the server CPU market once monopolized by Intel. Meanwhile, Apple’s transition to ARM-based silicon and the rise of AI-focused chipmakers like Nvidia further squeezed Intel’s once-dominant position.

Intel tried to modernize its CPUs with the big.LITTLE hybrid architecture in its recent Arrow Lake chips, mirroring ARM’s design philosophy, but the launch underwhelmed. The architecture failed to reverse AMD’s momentum and barely impacted the market. On the GPU front, the company’s Arc graphics cards came late and lacked the punch to challenge Nvidia or AMD’s dominance.

Manufacturing Missteps and the TSMC Lifeline

Intel’s internal foundries, once a cornerstone of its success, have turned into a liability. Years of delays and poor yields across its advanced nodes—10nm and 7nm especially—forced Intel to outsource key parts of its chip production to TSMC, the same company enabling its rivals’ success.

By 2025, Intel has reportedly outsourced 30% of its chip fabrication to TSMC, including the GPU tiles on Meteor Lake and the compute tiles for Lunar Lake. This strategic pivot—unthinkable for Intel just a few years ago—is an overdue acknowledgment that its foundry division is no longer world-class.

Now, rumors are swirling about Intel splitting its foundry operations into a separate entity, essentially transitioning into a fabless model like AMD, Apple, and Nvidia. If it happens, it would mark one of the most dramatic reversals in the company’s century-long history.

AI Revolution Leaves Intel Behind

While AI has emerged as the defining trend of this generation—supercharged by the global embrace of ChatGPT and large language models—Intel has watched from the sidelines. It failed to capitalize on the early AI wave, ceding virtually the entire training market to Nvidia, whose data center GPUs now power the AI backbone of the modern internet.

“On training, I think it is too late for us,” Tan admitted during the employee meeting.

Instead, he’s pinning Intel’s AI hopes on edge computing and agentic AI—AI systems embedded in consumer and industrial devices capable of acting autonomously without constant cloud access. While these fields are still developing, Tan sees them as Intel’s chance to re-enter the game from a different angle. He promised more AI-focused hires were coming, saying: “Stay tuned. A few more people are coming on board.”

Cuts, Culture Shift, and a Fight for Survival

Intel has already begun aggressive cost-cutting, including thousands of layoffs worldwide. The company reported a $16 billion loss in Q3 2024, largely due to ballooning R&D costs tied to its lagging manufacturing roadmap.

Tan, who replaced Pat Gelsinger last year amid boardroom frustrations, is said to be pursuing a leaner, more focused Intel, ditching the shotgun approach of trying to be everywhere at once.

“Intel’s resurrection has to be a marathon,” Tan reportedly told employees. “We have to be humble. We need to listen to what the market is telling us.”

Perhaps no example better captures Intel’s fall than the fact that it once considered acquiring Nvidia for $20 billion. That was before Nvidia’s meteoric rise. Today, Nvidia’s market capitalization has surpassed $4 trillion, becoming the most valuable publicly traded company in the world—and a titan that defines the AI era.

In contrast, Intel is stuck cleaning up after billions of dollars wasted on refineries, flawed CPU architectures, and missed AI opportunities. Even its once-proud server dominance is gone—EPYC now leads the conversation.

What Does The Future Hold?

With its 18A node still at least a year away and uncertain prospects in AI and servers, Intel’s road to recovery looks steep. The company is no longer the North Star of semiconductors—it’s a challenger in the industry it once built.

Lip-Bu Tan’s honesty may be a refreshing change from years of denial, but rebuilding Intel’s credibility will take more than humility. It will require bold restructuring, laser-focused execution, and a willingness to shed legacy burdens.

Currently, Intel finds itself on the defensive, while its rivals dictate the future of computing. Whether it can reinvent itself as a nimble, AI-focused powerhouse or continue to drift into irrelevance is a question only time—and Tan’s strategy—will answer.

The Central Bank of Nigeria (CBN) has warned of a significant surge in financial fraud across the country, revealing that reported fraud cases rose by 45% within one year, with over 70% of the losses traced to digital financial channels, particularly unregulated virtual asset platforms.

CBN Governor Olayemi Cardoso, represented by Deputy Governor for Economic Policy Muhammad Sani Abdullahi, disclosed this on Thursday, July 10, 2025, during a public lecture organized by the Economic and Financial Crimes Commission (EFCC) in Abuja. The event focused on the growing threat of financial crimes and the role of national institutions in responding to them.

Quoting findings from the CBN Financial Stability Report 2024, Cardoso said the data showed not only a disturbing rise in fraud but also the vulnerability of Nigeria’s digital financial space to manipulation by bad actors.

“The CBN Financial Stability Report 2024 reveals a 45% surge in financial fraud cases, with 70% of losses linked to digital channels, including unregulated virtual asset platforms. Furthermore, over 30 Ponzi-style investment schemes exploiting digital currency narratives have been flagged by the SEC and other agencies,” he said.

Cardoso added that these incidents are eroding consumer trust, damaging Nigeria’s financial reputation globally, and threatening the stability of the financial system.

“These developments pose major risks, including loss of consumer confidence, weakening of financial integrity, and reputational challenges for Nigeria in the global financial system.”

According to the CBN, Nigeria recorded over $56 billion in crypto-related transactions between July 2022 and June 2023, solidifying its place as Africa’s leading digital transaction hub. However, Cardoso said this rapid growth in digital financial activity has not come without consequences.

While digital innovation has improved financial access, it has also introduced regulatory and security challenges, particularly in monitoring transactions involving cryptocurrencies and tokenized investments.

“The surge in digital innovation has brought benefits, such as greater financial inclusion and also given rise to complex challenges, such as fraud and money laundering,” Cardoso said.

SEC Blames Crypto Fraud for Waning Investor Confidence

The Director General of the Securities and Exchange Commission (SEC), Emomotiti Agama, also weighed in, highlighting how virtual asset fraud and investment scams are undermining investor trust and damaging financial market credibility.

“Today, as digital innovation transforms financial systems, we face new challenges, particularly the rise of virtual asset fraud and sophisticated investment scams, exploiting unsuspecting investors,” Agama said.

He emphasized that corruption and financial fraud are siphoning resources needed for long-term development and deterring both domestic and international investment.

Agama stressed that the SEC is stepping up efforts to revise its regulatory frameworks to reflect the evolving risks posed by digital investment channels. He also said the Commission is working on educating the public, particularly vulnerable groups, on how to identify and avoid fraudulent schemes.

National Orientation Agency Calls for Cultural Shift

Director General of the National Orientation Agency (NOA), Lanre Issa-Onilu, said the consequences of financial fraud are not just fiscal, but deeply human. He argued that the ripple effects of fraud can be seen in ruined livelihoods and the collapse of small businesses.

“Every Naira lost to fraud causes far-reaching effects. It is about a child pulled out of school, a livelihood ruined, and an enterprise destroyed. These crimes are not abstract. They affect people, and our country pays dearly for it.”

He linked the fraud epidemic to a cultural problem, where the pursuit of sudden wealth has become normalized.

“We launched a nationwide campaign against the spread of the get-rich-quick syndrome. The initiative is helping all Nigerians, especially young people, to understand that lasting success comes from honesty and hard work, and it takes time.”

CAC Urges Stronger Governance

Also speaking at the event, Registrar General of the Corporate Affairs Commission (CAC), Hussaini Ishaq Magaji, warned that the proliferation of fraud, money laundering, and financial manipulation demands proactive regulatory vigilance.

He disclosed that the CAC is in active collaboration with the SEC and other regulatory bodies to tighten corporate governance and improve enforcement across sectors. According to Magaji, transparency and accountability must be enforced at all levels of Nigeria’s financial ecosystem to shield it from criminal exploitation.

“We are aligning with sector-specific regulators to strengthen governance frameworks and ensure that all institutions within the ecosystem operate within the boundaries of legality and integrity.”

The CBN’s latest warning comes as Nigeria grapples with the dual realities of becoming a digital finance leader on the continent while also facing unprecedented exposure to online financial crime. The surge in crypto activity, unregulated platforms, and fraudulent investment schemes has complicated the regulatory environment, raising questions about how to foster innovation without sacrificing security.

The alarm from the CBN and other institutions suggests that Nigeria’s economic future hinges not just on policy reforms or market access, but on winning back public confidence in the financial system—a task that will require strong regulation, public education, and a national value reorientation away from financial opportunism and towards ethical growth.