WeekWise LXXVII
#77 WW: Spain’s Blackout, Warren Buffett to Step Down at 94, and ChatGPT Adds In-App Shopping via Shopify.
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I'm Adolfo Güell, and every week, I spend countless hours selecting curated content—whether it's posts, news, or podcasts—centered around my passions: technology, macroeconomics, innovation, and more. This newsletter is my way of sharing the top-notch content I've come across.
I hope this weekly newsletter introduces you to exciting new content and talented creators.
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On April 28, 2025, Spain and Portugal experienced one of the most severe blackouts in European history. At 12:33 PM, the Iberian Peninsula suddenly lost 15 gigawatts of electricity—about 60% of Spain’s national demand—plunging millions into darkness. The outage disrupted hospitals, airports, trains, internet services, and mobile networks. Although power was largely restored within 24 hours, the exact cause remains under investigation.
What Happened?
According to Spain’s grid operator, Red Eléctrica, the blackout was triggered by two abrupt losses of power generation within five seconds, likely in the southwest region. This sudden imbalance overwhelmed the system, causing a cascade of automatic shutdowns. While some speculated about cyberattacks or rare atmospheric phenomena, authorities have ruled out sabotage and unusual weather conditions.
The Role of Spain’s Energy Mix
Spain’s energy mix is heavily reliant on renewables, with wind and solar accounting for nearly 59% of electricity generation. While environmentally beneficial, these sources lack the "electrical inertia" provided by traditional power plants. Inertia refers to the kinetic energy stored in spinning turbines of fossil fuel or nuclear plants, which helps stabilize the grid during sudden disturbances. The absence of sufficient inertia from renewables may have contributed to the grid's vulnerability.
Consequences and Recovery
The blackout had widespread effects:
Transportation: Trains and metros halted, stranding approximately 35,000 passengers.
Healthcare: Hospitals operated on emergency generators, prioritizing critical patients.
Communication: Mobile networks and internet services were disrupted, leaving many without access to information. Restoration efforts involved restarting hydroelectric plants and gradually reconnecting regions. International support, including electricity imports from France and Morocco, aided the recovery.
Looking Ahead
The incident has sparked discussions about the stability of renewable-heavy grids and the need for infrastructure that can provide inertia. Experts suggest investing in technologies like synchronous condensers and enhancing grid interconnections to prevent future blackouts.
As investigations continue, Spain and Portugal aim to learn from this event to strengthen their energy systems and ensure resilience against similar disruptions.
Sources: What Caused the European Power Outage? [Wired], Power returns to Spain and Portugal. The outage’s cause remains a mystery [AP News] & Don't blame renewables for Spain's power outage [Reuters].
This week marked a historic shift in global investing: Warren Buffett announced he will step down as CEO of Berkshire Hathaway by the end of 2025, concluding a legendary 60-year tenure. Buffett, now 94, has transformed Berkshire from a struggling textile mill into a $1.16 trillion giant. He will remain as Chairman of the Board, while Greg Abel—currently overseeing non-insurance operations—will take over as CEO.
At Berkshire Hathaway’s 2025 annual shareholder meeting, Buffett also addressed the company’s cautious strategy. He explained that Berkshire is holding record levels of cash—$348 billion—because they are waiting for “extraordinarily attractive” opportunities, preferring patience over overpaying in what he called an overheated market.
For ten consecutive quarters, Berkshire has been a net seller of equities, trimming positions in Apple, Bank of America, and Chevron, while fully exiting stakes in HP and Paramount Global. Today, its portfolio is more concentrated than ever, anchored by long-term bets on Apple, Coca-Cola, American Express, and Occidental Petroleum.
Buffett’s track record is nothing short of legendary. Since taking the helm in 1965, Berkshire Hathaway has returned 5,502,284% to shareholders, compared to just 39,054% for the S&P 500 in the same period.
Following the retirement announcement, Berkshire’s Class B shares dipped nearly 2% in premarket trading, reflecting investor uncertainty about the firm’s next chapter. Still, many view Abel as a steady hand to carry forward Buffett’s famously conservative, long-term approach.
Sources: Buffett to step down as Berkshire CEO after 60 years at helm, passes baton to Abel [Reuters] & Buffett’s Berkshire Lifts Cash Pile to Record $347.7 Billion [Bloomberg]
OpenAI has quietly integrated Shopify's checkout system into ChatGPT, enabling users to browse, compare, and purchase products directly within the chat interface. This move transforms ChatGPT from a conversational assistant into a full-fledged shopping platform.
How It Works
When a user inquires about a product, ChatGPT can now display real-time information such as images, prices, reviews, and a "Buy Now" button. Clicking this button initiates a secure checkout process powered by Shopify, all without leaving the chat window. This seamless experience streamlines the traditional online shopping journey, reducing the need to navigate multiple websites or tabs.
Implications for E-Commerce
This integration offers significant benefits for both consumers and merchants:
For Consumers: The shopping process becomes more efficient and personalized, with AI-driven recommendations and a simplified checkout experience.Amasty+2Windows Forum+2Medium+2
For Merchants: Shopify's vast network of sellers gains immediate access to ChatGPT's extensive user base, potentially increasing product visibility and sales without additional integration efforts.
Industry Context
The integration aligns with broader trends in AI-driven commerce. Competitors like Microsoft have introduced similar features, such as the Copilot Merchant Program, allowing merchants to embed product catalogs directly into AI applications. This development underscores the growing importance of conversational interfaces in the e-commerce landscape.
Source: OpenAI upgrades ChatGPT search with shopping features [TechCrunch]
Some other reads I enjoyed…
What Stripe’s Acquisition of Bridge Means for Fintech and Stablecoins [Andreesen Horowitz]
Introducing Qwen3 [Alibaba Qwen on X]
Critical Minerals Are a US Headache, Not an Emergency [Bloomberg]
US Real GDP came in at a -0.3% annualized growth rate in Q1 2025 [Joey Politano on X]
The Link between Cannabis and Psychosis in Teens Is Real [Scientific American]
🇪🇸 Good policies vs. productive policies: the debate that has ignited the great blackout [El Confidencial]
Google is putting AI Mode right in Search [The Verge]
iOS developers can now offer commission-free payments on web [Vercel]