The word “risk” traces its roots to the Arabic “al-rizq”, but it was Genoese sailors that gave it the meaning we know today. Because canon law banned the payment of interest on loans, sailors had to find another way to entice investors to shoulder part of their journey’s expenses. Called “resicum” (and later, “risk”), this new approach allowed investors to finance a captain’s trip in exchange for a promise of 75% of the journey’s potential profits; a high reward that rationalised the risk the investors undertook by funding the trip. Read full article here
Technology
The First Solar-Powered Car Comes at a Hot Price
The Lightyear O is a revolutionary electric car powered by the sun. Developed by a Dutch startup, the four-door sedan has over 50 square feet of solar panels on its roof and hood, generating up to 43 miles of energy a day. With production now underway in Finland, the car does come with a hefty price tag at $262,000, but the company hopes to introduce a more affordable version, the Lightyear 2, by 2025. Read full article here
Merv
January 27, 2023
