The curtain is about to rise on a "new Age of Electricity," according to the International Energy Agency's latest annual report. The IEA now forecasts global electricity consumption to increase by nearly 4% annually over the next three years, surpassing its previous projection of 3.4%. This surge is driven by the growing adoption of electric vehicles, expanding data centers, and rising demand for air conditioning. The 3,500 TWh increase won't be felt equally worldwide, however, with developing nations expected to account for 85% of the rise. China, in particular, is set to see its consumption grow by 6% per year, continuing its rapid expansion in energy demand.

While China is leading the charge in global electricity demand, growing economies in India and Southeast Asia are also contributing to the surge. But it's not just developing nations driving this change—advanced economies, where electricity demand has largely remained stable or even declined over the past 15 years, will also see increased consumption. The IEA highlights the rise in air conditioning installations, the growing adoption of electric vehicles, and the rapid expansion of AI data centers as key factors driving demand, particularly in the U.S., where electricity use is expected to grow by 2% annually over the next three years.

In 2024, DoorDash processed a staggering $80 billion in orders and subscriptions, yet still ended up in the red, operating at a loss.

The debate around “private burrito taxi” economics flares up every so often, especially when Twitter users start pondering how much profit companies like DoorDash are making off our convenience-driven cravings. However, despite pulling in massive numbers, DoorDash has struggled to turn a profit. In 2024, the delivery giant processed over $80 billion in gross order value, including almost $21.3 billion from subscription fees and deliveries ranging from groceries to take-out. Yet after splitting those earnings with restaurants, retailers, and drivers, DoorDash posted $10.7 billion in revenue but still ended the year $38 million in the red.

One of the key factors behind this loss is DoorDash’s hefty spending on marketing and innovation. In 2024, the company shelled out more than $2 billion on sales and marketing—part of which went toward pricey Super Bowl ad slots—and around $100 million per month on R&D to expand its service range. Despite operating losses totaling around $3.25 billion over the past five years, DoorDash’s stock is up 2% after an unexpectedly strong Q4. Interestingly, during the Super Bowl, DoorDash drivers in the U.S. collectively earned over $50 million, with Philly-based Dashers alone pocketing $390,000, according to Axios data.

Is Tourism the New Oil? Saudi Arabia Pivots to Travel for Economic Growth

Saudi Arabia is making a bold push to boost tourism as part of its strategy to reduce dependence on oil, the resource that has long fueled its economic rise. After opening its doors to leisure tourists in 2019 and overcoming the pandemic’s impact, the kingdom has seen impressive growth in its tourism sector. According to the World Travel & Tourism Council, tourism contributed a record 11.5% to Saudi Arabia’s GDP last year, with international visitor spending jumping by about 57%. Now, the country is expanding its focus beyond popular destinations like Riyadh, investing millions in projects aimed at attracting visitors to lesser-known cities, with a goal of drawing 5 million new tourists by 2030, as reported by Bloomberg.

Saudi Arabia is betting big on tourism to meet its ambitious goal of attracting 70 million international visitors annually by 2030, part of a $1 trillion initiative to reduce its dependence on oil. The kingdom made notable progress last year, welcoming a record 30 million visitors—an increase of 9.4% from 2023. While this growth was slower than the 65% surge seen the year before, the trend is poised to continue, with major events like Formula One, the 2030 World Expo, and the 2034 FIFA World Cup on the horizon. Tourism is already contributing significantly to the economy, with non-oil sectors accounting for a 1.3% GDP boost in 2024, even as the oil sector faced challenges from production cuts and declining prices. By 2030, oil’s share of Saudi GDP is expected to drop from over 30% to around 24-26%, as investments in areas like sports, data centers, and tourism continue to grow.

New York City is home to 319 skyscrapers, including one with a peculiar quirk: the Seaport 1 building, which leans 3 inches to the north.

While humanity’s ability to build towering structures has reached incredible heights, sometimes things don’t go as planned. The Seaport 1 building, often referred to as “The Leaning Tower of New York,” has become a symbol of controversy, with over a dozen lawsuits and a construction pause that’s lasted nearly five years. Originally intended as a sleek apartment complex, the structure's unconventional shape and tilt have drawn attention, particularly after a cost-saving decision to use a less traditional foundation method. This decision, which deviated from the typical "pile" foundations used to stabilize most of Manhattan’s skyscrapers, led to the lean.

While New York City boasts 319 skyscrapers, it's far from the global leader. Of the 100 cities with the tallest buildings, 40 are in China alone, with Hong Kong reigning as the skyscraper capital of the world with 564 towering structures. Shenzhen, China’s second tallest city, comes in with 440. NYC, however, holds the third spot, with 17 buildings taller than 300 meters. Since 2022, Shenzhen has added 91 skyscrapers, while the Big Apple has seen a more modest increase, bringing its total to 319. While NYC may not be at the top globally, it remains a prominent player in the world’s skyline.

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