worth

when you need to buy the most expensive cable and when the 5 euro one is worth it

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You go to a store like Amazon and type ‘HDMI cable’ in the search engine. The results show a lot of options and all, at a glance, they are almost identicalyes. Yes, there are braided cables, cables of different lengths, or you can even find cables of other colors, but there doesn’t seem to be much difference between them all. Despite this, there are very cheap cables and others that cost more than 20 euros. Your first impulse may be to go for the cheapest one that has the meters you need. Ideally, you should spend a moment on the details, since the cheapest ones are usually HDMI 2.0, while the most expensive ones are HDMI 2.1. What does that mean for you? Let’s take a look at it so you know if it’s worth investing a little more or if one of these cheap cables works for you. Choosing an HDMI 2.1 cable In short, HDMI 2.1 cable is better. The main difference between this and HDMI 2.0 is that it has greater bandwidth (more than double, in fact). In practice, this means that the cable can handle and transport more information per second. Since we are talking about an HDMI cable, we are referring to image and sound. Precisely because it has more bandwidth, this cable can move higher resolution at higher hertz. It is the right one if you plan to see 8K resolution content (although for commercial 8K content there is still) or if you are looking to play something at 4K at 120 Hz. The latter is what leads many people to go for one of these cables because it is the way to get the most out of a PlayStation 5 or one Xbox Series X. To the greater bandwidth of this cable, we must add some technologies such as dynamic HDR or others that are also great for video games and that are not present in HDMI 2.0. The most important one is called VRR (either Variable Refresh Rate), which basically makes the console or PC and the TV “agree” so that the image does not jerk. We have two examples of VRR with two technologies that are usually present in many monitors, such as NVIDIA G-Sync or AMD FreeSync. There is also ALLM, which makes the TV’s Game Mode activate automatically when you connect the console. This is very convenient because it will save you from doing it manually every time, but it is great when playing because reduce latency. That is, it minimizes the time that passes between you pressing a button and the action being displayed on the screen. For competitive games it is key. If you have a good sound bar for TV at home and you want to connect it via HDMI, then choosing an HDMI 2.1 cable may be a good idea. Here comes into play what is called eARCwhich allows you to command uncompressed audio in the highest quality from the TV. Where is the “but”? So that all these things that we tell you are worth something, It is necessary that both the TV and the console or PC are compatible. You can use the cable if they are not, but you will have spent more money and you will not be taking advantage of it. The good thing is that check if your TV or monitor has HDMI 2.1 It’s not difficult. Choose an HDMI 2.0 cable The best cable doesn’t have to be what you need. The HDMI 2.0 cable has less bandwidth, as we said above, but it is still more than enough for 4K and 60 Hz content. This combination, today, is the most common when playing with all consoles. Plus, it still supports HDR. For this reason, it can be great for consoles from previous generations (PlayStation 4 or Nintendo Switch, for example) or for a TV Box. Another asset that this HDMI 2.0 cable has: the price. Generally, this type of cable It is significantly cheaper than HDMI 2.1. That, which is great for our pocket, also allows us to buy one of better quality without having to spend a good pinch. Because yes, the quality of the cable or connector matters (a lot). And the distance, because the longer the cable is, the more likely it is to suffer losses or interference. What is the main drawback of this cable? May it become obsolete soon. If you don’t plan to change your TV or console right now, HDMI 2.0 is perfect. Now, when you switch to a newer device that supports HDMI 2.1, you will have to buy a new cable if you want higher resolution and more fps. In other words: if renewing consoles or TVs in the short or medium term is on your mind, buy an HDMI 2.1 directly. The good and the bad of both options, face to face HDMI 2.1 HDMI 2.0 THE GOOD 🟢 It reaches up to 8K and 60 Hz (or 4K and 120 Hz) and has exclusive technologies It’s cheaper and still capable with 4K and 60 Hz THE BAD 🔴 It is more expensive and you will not get the most out of it if your TV is not compatible It will soon become obsolete if you plan to renew your TV or console. Ideal for: Play at higher fps and higher resolution with a PS5 or Xbox Series X and to play audio in the best quality Consoles from past generations or watch movies, series and football if you don’t have an 8K TV We do the math to see which one can compensate you more. Both options have their advantages and disadvantages, so now let’s see which one may interest you more depending on which cases. Here it will depend a little on what you are looking for, but especially on What TV or monitor are you going to use the cable for?. The advantages in resolution, Hz and technologies of HDMI 2.1 are obvious, … Read more

Databricks is worth 134 billion without ever having gone public thanks to AI. And it’s not an AI company

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Databricks has closed a financing round of more than 7 billion dollars (5,000 million in capital and 2,000 million in debt) that values ​​the company at 134 billion dollars. It’s a dizzying figure for a company that the vast majority of people have never heard of. The San Francisco firm is not, technically, an AI company either. Its business is enterprise-scale data management and analysis. What Databricks does is provide the invisible infrastructure that allows other companies to store, process and extract value from enormous amounts of information. Without that, training AI models would be impossible. Why is it important. Databricks is the cover of the boom of AI. OpenAI, NVIDIA or Google grab the headlines, but it’s companies like this that build the plumbing that makes everything else possible. Its valuation is 134,000 million. Without ever having gone public. That places it even above established technology giants. It is at the level of Qualcomm or Sony. Beats Xiaomi or Adobe. And it does so with a less business model sexy but more profitable: B2B infrastructure than it leaves gross margins greater than 80%. In figures. The Databricks numbers They explain a growth that justifies the enthusiasm of its investors. Annualized revenues exceeding $5.4 billion in the fourth quarter, with 65% year-over-year growth. More than 800 clients that generate more than a million dollars annually. Positive free cash flow over the last year. Its AI product line has surpassed $1.4 billion in revenue with a net retention rate of over 140%. Between the lines. The participation of JPMorgan Chase, Goldman Sachs, Morgan Stanley, Microsoft and sovereign funds like Qatar’s in the latest round says a lot: these large investors are betting on the infrastructure, not the final application. The implicit message is something we’ve been hearing since the first few months after the ChatGPT moment: in the AI ​​race, those who sell picks and shovels can earn more than those who pan for gold. Databricks provides the platform where companies store their proprietary data and train their custom modelssomething that the public APIs of OpenAI or Anthropic cannot offer. Yes, but. Its CEO, Ali Ghodsi, has said that “now is not a good time to go public,” even though his company meets all the financial requirements to do so. The strategy is to accumulate enough cash enough to withstand any market correction like the one in 2022. And seen the vertigo it produces any headlines on capex figuresit makes sense to make a cushion for what may happen. The context. Databricks represents an important change in how the technology sector is structured. For years, traditional SaaS companies dominated the B2B landscape. Now, AI infrastructure and data platforms are achieving similar or higher valuations. The company is also expanding beyond its traditional business with products such as Lakebase, a database designed specifically for AI agents. Or with Geniea conversational assistant that allows employees to query business data using natural language. If Databricks achieves a strong IPO in an environment where technology valuations are more closely monitored than ever, it would demonstrate that markets are willing to pay very large premiums for AI infrastructure, not just flashy models. And that would change the rules of the game for dozens of similar companies operating in the shadows. In Xataka | Spain, on the verge of adding another AI unicorn: Multiverse negotiates a round to exceed 1.5 billion euros Featured image | Databricks and Xataka with Mockuuups Studio

found RAM memory modules worth 500 euros in the worst time to buy them

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A Reddit user counted this week how he had a singular habit: rummaging through his neighborhood trash can in case he found some hardware treasure. And boy did he find it: among other things, he got two 32 GB DDR4 memory modules. Those modules thrown away as waste are a little treasureespecially because with the memory crisis Its market value exceeds 500 euros. what has happened. The user, who uses the alias “ringosbigfuckingnose” indicated that he makes regular visits to the local landfill in his area to look through the garbage that people throw away in search of components for their old PCs. He pointed out how he often comes across equipment from which he can salvage things, but the other day he found a real treasure: A Samsung monitor A 5.25″ floppy drive A 5-bay Drobo NAS Two 32 GB DDR4 memory modules A 10th generation Core i7 with its fan An ASUS motherboard A real find, without a doubt, but above all for one thing. 64 GB of RAM is 500 euros in your pocket. All of these components have value, of course, but it is especially striking that I found those two memory modules with a total of 64 GB. If you take a look around stores like Amazon or PcComponentes you will quickly see that two 32 GB DDR4 modules have a price that today is difficult to lower than the 500 or almost 600 euros. An absolute treasure. An ingenious solution to the memory crisis. What this user has achieved is to find a unique solution to the RAM memory crisis that has caused prices to rise. they shoot in an absolutely extraordinary way. It’s not likely that many people are throwing away memory modules lightly, but there are certainly plenty of people who find real treasures – especially in the form of old consoles and computers – in garbage dumps and recycling centers. And what for some is trash, for others is a small (or big) gem. On TikTok it’s easy find videos with people finding some devices that may be damaged, but that have possibility of being repaired. Electronic waste that is not waste. The Reddit user commented that he lives in a city of about 8,000 people, and the local landfill has a container for recycling electronic waste, something similar to what happens with the recycling centers or clean points that we find in Spain. It was in that part where this user found all those products as is, available for pickup. electronic waste. As they pointed out in Windows Centralthere are studies that indicate that less than a quarter of electronic waste is recycled properly. That means there is a lot of money wasted in the form of still valid hardware and also minerals and components that can be mined from those components. Image | Eugenia Pan’kiv In Xataka | The AI ​​leaves another news that will make the day worse for gamers: NVIDIA will not launch new graphics this year, according to The Information

Is the AirTag 2 worth buying? Key differences from the first generation of Apple

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Now that Apple has launched the new AirTag 2it is good to ask yourself if it is really worth buying it or staying in the first generation. Therefore, in this article we are going to review the key differences between AirTag and AirTag 2. AirTag 2 design and precision AirTag (left) and AirTag 2 (right). Broadly speaking, the design of the AirTag 2 is the same as the first generation AirTag, although there is a small difference that allows us to differentiate them when purchasing them: the silkscreen on the AirTag is in lower casewhile on the AirTag 2 it is capitalized. But if there is a significant change between both generations, it is related to the search, especially in precision. Specifically, the new generation offers a elderly precisionwhich means that it can be found from a greater distance (50% more). Additionally, Apple Watch support is added. There is also a increase in sound volume that we can reproduce to locate it quickly. Two very similar prices Although initially the first generation AirTag was launched at an official price of 35 euros, over time it has risen to reach 39 euros. However, some supplier stores tend to keep it on sale for long periods of time, as is the case with Amazon, which right now has it as 30.99 euros (one unit) or by 89.99 euros (four units). The price could vary. We earn commission from these links On the other hand, the AirTag 2 is not too far from what we currently see in the first generation, since it has officially been launched at a price of 35 euros (one unit) or 119 euros (four units), something that is attractive if we want to have the improvements of the AirTag 2 for a price similar to that of the AirTag, at least if we buy a single unit. The price could vary. We earn commission from these links Is it worth it? To assess whether it is really worth buying the AirTag 2, we can open three fronts. The first is if it is our first Apple locatorand in this case we may be interested in betting on the new, with the improvements that this entails, for a price very similar to that of the first generation. The second front is If we already have an AirTag. In this case, the differences really are not so great as to justify making the jump to the new generation, especially if the locator works perfectly. Finally, it may also be the case that you want buy the pack of four AirTag or AirTag 2. The new generation is also available in this pack at an official price of 119 eurosso if you want to have several Apple locators, it is worth opting for the previous generation pack, since its price is currently 89.99 euros. You may also be interested in these other locators SATECHI FindAll Key Finder with Apple Find My, Wireless Charging, Forgotten Alert with Powerful Sound, GPS Keychain Key Locator for iPhone 17 16 15 Series, iPad, Mac and More – Black The price could vary. We earn commission from these links SATECHI FindAll Air Tag Card GPS for Wallets with Apple Find My, Forgotten Alert, Powerful Sound, Wireless Charging, Lightweight GPS Card, Wallet Locator for iPhone, iPad, Mac – Black The price could vary. We earn commission from these links Some of the links in this article are affiliated and may provide a benefit to Xataka. In case of non-availability, offers may vary. Images | Anna MartiApple In Xataka | The best Airtag for Android. Which one to buy? Tips and recommendations In Xataka | Apple AirTag, Tile, Samsung SmartTag and more: Bluetooth locator buying guide with recommendations and differences

The internet has decided that 2016 was great and worth remembering. But there’s a problem: it wasn’t at all.

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The aesthetics of 2016 comes back strong: filters that They imitate the Instagram of then (according to Wikipedia, more than 200 million videos with filters that imitate visuals), trends that they recover photos from thenrecreations of the summer of ‘Pokémon GO’, tributes and memories to David Bowie. Generation Z users, many of them teenagers at the time, they rebuild 2016 like a golden age (there has been a 450% increase in searches of the term “2016” on TikTok). The contradiction is obvious: That same year, numerous media declared it one of the worst in recent history. What happened. On January 10 he died David Bowie; they followed him Prince, Leonard Cohen, George Michael, Carrie Fisher. On June 23, the United Kingdom voted to leave the European Union. On November 8, Donald Trump won the US election. Media like slate either Newsweek They wondered if it was the worst year in history. Less than a decade later, that same year it has become an object of nostalgia. Starting shot. The Bowie’s death January 10 marked the year since its inception. Two days before he had published ‘Blackstar’, an album that today is interpreted as a farewell but that then went unnoticed in its testamentary dimension. The shock was immediate: an artist who had hidden his cancer for 18 months disappeared without warning, and memes filled that void almost immediately. The artists mentioned above followed, and each death reinforced the same idea: 2016 was cursed. In Xataka All the reasons you should listen to David Bowie if you haven’t already Imbalance. Trump and Brexit shattered the expectations of progress and openness that dominated Western political discourse. In‘The future of nostalgia’already in 2001, Svetlana Boym distinguished between “restorative nostalgia” (which seeks to reconstruct a mythical home) and “reflective nostalgia” (which enjoys longing without seeking to recover anything). Nostalgia for 2016 is of the first kind: it invents a year that never existed. Boym noted that restorative nostalgia “does not recognize itself as nostalgia, but as truth and tradition.” Just what happens when TikTok recreates the summer ofPokémon GO as if it had been edenic. This has already been said. There are theorists who have reflected on the phenomenon to remember 2016 just ten years later. David Foster Wallace documented in the 1990s what he called “nostalgia for the present”: the urge to long for something that is not yet over. 2016 fulfills that paradox: it has become an object of nostalgia before being historically processed, while its political consequences remain active. The temporal distance necessary for nostalgia, usually two or three decades, has been compressed to the point of almost disappearing. {“videoId”:”x9785qi”,”autoplay”:false,”title”:”Prince – Partyman”, “tag”:””, “duration”:”233″} Retromania. It is inevitable to refer to ‘Retromania‘a 2011 essay in which Simon Reynolds argued that since the 2000s, pop culture had reversed its direction: instead of generating the future, it was dedicated to reactivating the past. Reynolds documented band reunions, deluxe reissues, revival festivals, nostalgic samples. Fifteen years later, his thesis has intensified: no society has ever been so obsessed with the cultural artifacts of its most recent past. The return to 2016 confirms his diagnosis: a decade is enough to activate nostalgia. Hauntology. Mark Fisher elaborated on this idea in ‘The ghosts of my life’where he developed the concept of “hauntology” that Derrida had coined: we are inhabited by futures that did not materialize. Fisher, who died in 2017, argued that contemporary culture had lost its ability to imagine alternatives to the present. The past cannot be recovered; Their ghosts haunt a present incapable of projecting forward. Nostalgia for 2016 materializes this paralysis: one longs for a year defined by its catastrophic nature because there is a lack of vocabulary to articulate desirable futures. In Xataka A rosy past: why our brains can’t fight nostalgia Nostalgia mode. Finally, Fredric Jameson had anticipated this phenomenon in ‘Postmodernism: or the cultural logic of late capitalism’ in 1991, when describing the “nostalgia mode”: postmodern culture reproduces styles from the past by emptying them of historical reference and reducing them to an aesthetic surface. Instagram and TikTok accelerate this process. What was present yesterday is content today vintage available for consumption. The Spotify playlists of 2016 and the summer of ‘Pokémon GO’ are remembered, but not the bad thing. The algorithm creates a sweetened version of the past that eliminates conflict. It could be worse. 2026, without going any further. The nostalgia of 2016 reveals an escape from much more present horrors: those of 2026. That year has been dwarfed as a “bad year” because a decade later Trump returns to the presidency in a much more virulent way, with attacks on international law and invasion of countries, the war in Ukraine has no signs of ending, Gaza is going through a humanitarian disaster that shames the planet, political and media polarization has become radicalized, housing has become inaccessible… Carrie Fisher, who died in 2016 If in 2016 there were those who considered it exaggerated to talk about authoritarian drift, 2026 materializes that exaggeration: the alarms that seemed like hyperbole turned out to be prophetic. Nostalgia for 2016 is not innocent: it is the implicit recognition that the situation has worsened, that that year, with all its disasters, was preferable to the present. It’s coming. The cycle accelerates. If 2016 is already an object of nostalgia in 2026, what year will be nostalgic in 2030? 2020, the year of the global pandemic? 2024? Culture is caught in a loop where the present devours itself before it has been digested, where the ability to imagine alternatives has atrophied to the point that we can only look back. Even when what we see behind is disaster. In Xataka | People are so fed up with the current Internet that they are returning to MySpace. Not out of nostalgia, but out of rebellion (function() { window._JS_MODULES = window._JS_MODULES || {}; var headElement = document.getElementsByTagName(‘head’)(0); if (_JS_MODULES.instagram) { var instagramScript = document.createElement(‘script’); instagramScript.src=”https://platform.instagram.com/en_US/embeds.js”; instagramScript.async = true; instagramScript.defer = true; headElement.appendChild(instagramScript); – The news … Read more

The Spanish business that Vodafone sold as ballast is now worth three times as much. Zegona has shown that the problem was the owner

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according to further Populi Voicea medium with a good track record in telecom exclusives, Telefónica has started talks with Zegona to acquire Vodafone Spain. The negotiations are recent (just a few weeks) and it was Movistar who picked up the phone first. Telefónica wants to close the operation in the first half of 2026. The rumors come from months ago. The problem is that arrive late, and that has a price. A little more than two years ago, Zegona bought Vodafone Spain for about 5,000 million euros. Vodafone (the British parent) was selling a problematic asset: It was the third operator in a market of four. He was caught between the scale of Telefónica and the agility of the low-cost He inherited a network that required constant investment. And he also inherited a tarnished reputation after years of complaints. For the British group, Spain was a drain of money and effort. For Zegona, a poorly managed gold mine. And in just two years, the fund has proven that he was right: Has returned to its shareholders 1.4 billion euros in dividends (28% of what was paid by Vodafone Spain). Has reduced the number of shares in circulation by 69%. And yet its current capitalization is around 3.6 billion. For fund shareholders, the return has been spectacular: The stock went from 345p when they bought Vodafone (less than 100 when they announced their intentions) to over 1,565p now. It has multiplied by 4.5 in two years. Vodafone Spain generates around 4.5 billion annual revenues and, with more focused management than before and without the bureaucracy of a global giant, it has become a profitable operation that Zegona can continue to exploit… or sell to the highest bidder. Telefónica is now negotiating from a weak position. It needs the operation (Marc Murtra has repeated that Movistar must lead the consolidation of the Spanish market) and the market knows it. An ERE of 4,500 people has just closed. And while Telefónica prepared the house to add more furniture, its price has fallen 27% since the end of October. Zegona, however, its value has skyrocketed. The price of this indecision is between 2,000 and 7,000 million extra euros. regarding what the purchase of Vodafone Spain would have cost in 2023. Zegona is in no hurry. It can wait, it can squeeze, it can even stay as it is. Telefónica now cannot afford that luxury because buying Vodafone Spain is not an expansionist move, it is an almost defensive necessity: needs critical mass before Europe forces further consolidation where Movistar is the main course, not the diner. But when negotiating is a necessity and the other side knows it, the price stops being a variable and becomes a toll. If the operation crystallizes, it will create a giant with more than 45% of the Spanish market, great cost savings by eliminating duplications (headquarters, networks, contracts…) and intense regulatory scrutiny from Brussels. Although not as brutal as it would have been with Vestager because Ribera has another look. Telefónica knows it and so does Zegona. The difference is that one is late and the other can afford to wait. That changes everything in a negotiation. In Xataka | The great dilemma of Spanish telecos: either they become giants or China swallows them Featured image | Vodafone, Telephone

These are not simple collector’s figurines. They are impressive robots worth more than 1,600 euros, and I have tried them

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I’m going to tell you an anecdote. A few weeks ago I received a press release in the mail, one of the hundreds and hundreds that come in a day. This note said something like Robosen arriving in Spain with the Soundwave G1, and of course, my geeky mind clicked. Soundwave is the right hand of Megatron, the bad guy from ‘Transformer’, and I thought “well, another company that makes collector’s figurines.” The thing is that I went to their website and I went completely crazy. I was hoping to find a figure like some I have from ‘One Piece’ and company, but no. What I saw were some animatronics of more than 1,600 euros that take away the hiccups. Not just because of the level of detail, but because of how they move, talk and interact. Then I looked at the spec sheet, saw what they have inside, and thought “why not?” Spoiler: it is not just a figure | Image: Xataka So I wrote to Robosen to ask for the Soundwave, try it and tell Xataka how it is. Hopes? Zero. Not because of them, but because I understand that sending a 1,600 euro robot by courier in the middle of Christmas is something you want, which is something you want, you don’t want it. Well, not one, not two. But three. Robosen gave me not only Soundwave, but Megatron and a limited edition Buzz Lightyear. Like a little child, I spent Christmas trying them and teaching them to every living being that entered the house. Because yes, they are one of those products that you don’t have the opportunity to try every day and that are capable of making you say “wow!”. I’ll tell you how it is. There are figures and FIGURES The Buzz Box is a resounding yes | Image: Xataka The animatronics come packaged with exquisite taste. A product of this type and price must convey premium aroma right out of the box and Robosen has certainly nailed it. Special mention deserves the Buzz Lightyear box, which is the same as the original ‘Toy Story’ box. What I want to get at is that everything comes very well packaged, with its rigid foam and closures to prevent falls during transport. No complaints. “I am Megatron, leader of the Decepticons!” Megatron | Image: Xataka I think the easiest thing is to show the robots one by one, so let’s start with the most impressive one: Megatron. This beast, whose price amounts to 1,612.33 euros At the time I write these lines, he was the one that convinced me to order the robots and try them out. It is inspired, like Soundwave, by the design of 80s cartoons and the attention to detail is spectacular. Megatron in his tank form | Image: Xataka Image | Xataka Image | Xataka Megatron, as every Transformer fan will know, takes the form of a tank, and here it could not be any less. The animatronic features 112 LED lights with red and purple accents, wheels inspired by real tanks, and a shiny metallic finish. That’s on the outside, but Inside it has 118 microchips and 36 high-precision servomotors that make it not only move, because it moves, but also transform. I think a video does it more justice than photos. In both tank mode and robot mode we can interact with the device, either by voice or through the mobile application. These are the only three “buts” that I can say not only to Megatron, but to all the others I have tried: Voice commands only work in English and are predefined. If you don’t know English or your pronunciation is average, it is quite likely that the robots will not understand the command. The application is unique for each robot. It is not like the Xiaomi app, to which you can connect all the company’s devices, but Megatron has its app, Buzz Lightyear has his, etc. You cannot navigate the app if you do not have the robot connected. Image | Xataka For the rest, and removing that, the interaction with the robot is great. You can move it, talk to it to make it say phrases, start little theaters like the one you can see below these lines and, if someone is encouraged and has the patience and, above all, the art that I don’t have for it, program actions to share them with the rest of the world. I had to lower him to the floor because he moves a lot during the scene and the platform reaches as far as it goes. The robot’s movement is extremely precise. The engines make some noise, but nothing out of the ordinary. The voice is heard loud and clear and, when the movement is fast, the effect is very, very successful. By the way, programming can be done either on a PC, or by putting the robot in a position and recording the posture in the app. That’s easy to do. Image | Xataka Natural movement, that is, walking forward or backward, is brutal. Slow, but very, very precise and stable. The first time you move it it seems like real magic. That a robot this size remains this stable while standing and moving is impressive. In tank mode, movement is much more fluid. Those nostalgic for ‘Transformers’ will surely like to know that the phrases have not been generated with AI, but have been recorded by original voice actor, Frank Welkerwho also voiced Soundwave. There are more than 270 original voice lines and you can generally interact with the robot with more than 50 voice commands. Megatron | Image: Xataka Something that has me completely fascinated is that the robot feels alive. If you leave it on stand-by you will see it “breathe” and make small gestures and movements to give a more realistic impression. This is regardless of whether it is in tank mode or robot mode, and yes, in case you were wondering, yes, … Read more

has turned impatience into a business worth 152 million

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A cell phone store salesman who sings opera, shaking with nerves and win a talent show. David Bisbal working in a nursery before leaving in Operación Triunfo. The entertainment industry has been selling the same message for decades: talent is everywhere, you just have to discover it. But there is another, less romantic talent that often goes unnoticed: that of making money where no one else had seen it. Aena has just demonstrated it with its 2024 results. It has turned a testimonial line of business into a gold mine: VIP services. In just six years they have gone from 79 million euros (2019) to 152 million in 2024, the last with the results published. There will be millions more when they publish those for 2025. They have doubled their turnover and now represent more than 10% of the company’s commercial income, compared to the 5% they represented in 2019. He told it The Economist and it is a great perch to tell the change in the way in which Aena extracts value from its airports: it depends less and less on the gross number of passengers, and increasingly focuses on monetizing the experience of those who can and want to pay to avoid the inconveniences of mass transit. The distribution of AENA’s income Aena closed 2024 with revenues of 5,828 million euros, 13.3% more than the previous year. But not all that money comes from the same place, nor does it grow at the same rate, as we can see by reading the company’s income statement. The structure of its income is built on four pillars: 1. Aeronautical revenues → 3,148 million euros, +13.7%. Is the hard core of your business: These are the fees that airlines pay to use the facilities. Landings, takeoffs, use of terminals, passenger assistance… They are regulated income, with prices set according to a framework that limits their growth. They represent 55% of the total. They increase with traffic (309.3 million passengers in Spain in 2024, 9.2% more), but their room for maneuver is narrow. 2. Business income → 1,760 million euros, +14.7%. This is where Aena has learned to play. These are the income generated within the airports, beyond the basic air transportation service. And the growth is greater than that of traffic, which means that Aena is making more money for each passenger. Within this category, the breakdown is striking: Duty free shops (duty free): 527 million euros, the largest component. A growth of 28.2% compared to 2023. Restoration: 347.9 million (+7%). Parking: 204.1 million (+13.3%). Vehicle rental: 207.7 million (+12.5%). VIP Services: 156.2 million (+31.3%). Stores: 136 million (+1.6%). VIP services are not the ones that bill the most, but they are the ones that grow the most. And its margin is brutal: 83.3% of EBITDA in 2024, only surpassed by the commercial business as a whole. 3. Real estate services → 114.3 million euros, +8.4%. This is perhaps the segment less visible but most profitable of the entire Aena structure. With an EBITDA margin of 78.8%, only surpassed by commercial activity, real estate services demonstrate that it does not take a lot of volume to generate a lot of value. This includes the rental of space for air cargo (representing 46% of the total for this line), but also offices, hangars, land and technical premises. It is a long-term business, with stable contracts and recurring clients.. The investor’s dream. Airlines need operational bases, logistics operators require warehouses near the runways, and auxiliary companies request spaces for maintenance. Air cargo in particular has become a strategic asset. With electronic commerce that continues to grow throughout the world, Airports are not only passenger transit, but also logistics centers. Aena knows this and charges accordingly. Cargo revenues reached 52.7 million euros in 2024, consolidating itself as the main component of this segment. It is a less elastic business than commercial business because it does not grow at the same rate as passenger traffic, but it provides predictable income, high margins and little volatility. A corner of almost assured stability. 4. International activity → 727.3 million euros, +17.9%. Aena has been trying for years to replicate the model that is working so well outside of Spain. And the numbers are starting to add up. International activity grew by 17.9% in 2024, the largest increase of all segments, although its profitability is still significantly lower than that of the rest of the group, a 44.9% EBITDA margin vs the 60.2% average. The heavyweight is Brazil. The consolidation of Eleven Airport Block (BOAB)which Aena began operating in 2023, contributed 196.3 million euros in revenue and 102.9 million to EBITDA. There are eleven airports distributed throughout the country, with 27.4 million passengers in 2024. 52.4% EBITDA margin, still far from Spanish standards but on the rise. The other Brazilian asset is the Grupo Aeroportuario del Nordeste (ANB), with six airports that moved 15.9 million passengers. Then there is Luton, London airport in which Aena has a stake. It moved 16.7 million passengers and generated £345.5 million in revenue. EBITDA was £155.3 million with a margin of 44.9%. Excluding the concession fee and extraordinary adjustments, the real margin would be 56.8%. Historical record of income and EBITDA. The international commitment has strategic logic: Spain has a natural growth limit, and diversifying geographically reduces risks. But it also has its complexities. Concessions abroad operate under different regulatory frameworks, with tighter margins and political and exchange risks. Aena is learning that exporting the model is not automatic, but it is fair to admit that the 2024 numbers indicate that it is on the right track. The VIP business What makes the case of VIP services especially interesting is that its expansion does not seem to have peaked. In 2024, Aena inaugurated new lounges in several airports and expanded the existing ones in Ibiza, Tenerife South, Seville, Asturias and Palma de Mallorca. Fast Track revenues (priority access to security control) grew by 36%, and Fast Lane revenues (preferential boarding areas) … Read more

Cambricon was a dying company in 2019. Today it is worth 68 billion thanks to an unexpected partner: the US

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Chen Tianshi has multiplied his fortune by more than twelve in two years until reaching 22.5 billion dollars. Your company, Cambricon Technologieshas seen its shares soar 765% in 24 months and its revenues have grown more than 500% in the last year. Why is it important. Cambricon’s meteoric rise is not so much a story of disruptive innovation as of strategic protectionism. And it well exemplifies how US technology sanctions have become the best trading partner for some Chinese companies. The context. In 2019, Cambricon depended more than 95% on Huawei, which canceled all its contracts at once. The company seemed doomed. Then came the US restrictions of 2023 and 2024, which cut off the supply of NVIDIA chips to China. The Chinese government responded by requiring companies to buy “at home.” And that’s how Cambricon went from dying business to national champion. Between the lines. The case shows the difference between competing in a free market and thriving in a protected one. Cambricon has not beaten NVIDIA in technology: its chip Siyuan 590 is several years behind A100. But in a market sealed by government decree, it doesn’t need to be better, just available. The company has accumulated inventory of 2.76 billion yuan ($380 million), something that would be worrying in any sector. But with NVIDIA chips locked, that stocks It has become bargaining power. Some customers pay up to 30% extra for immediate delivery. Yes, but. The question that divides analysts is how long it will last. “Cammbricon’s explosive growth is primarily due to a very low base, and its current valuation may be inflated without sustained political support,” explains Shen Meng, director of investment bank Chanson & Co. Cambricon’s chip works well for inference (when an AI model makes predictions), but it lacks scalability for model training, the most computationally intensive phase. NVIDIA not only sells chips, it sells a complete ecosystem with CUDA which is “extraordinarily difficult to replicate quickly”, according to Sunny Cheungresearcher at the Jamestown Foundation. The contrast. Cambricon has a market capitalization of 558 billion yuan (about $68 billion), 60% less than that of Intel. But it generates just 1.6% of Intel’s revenue. Investors are not buying fundamentals, they are buying national hope. The alarm signal. Cambricon herself has tried to cool the frenzy. In August, with its stock soaring more than 130% in a month, it issued an official warning: its trading price had “deviated markedly” from its fundamentals and investors “could face substantial risks.” When a company warns that its valuation no longer makes much sense, it is worth listening. What does this say about technological warfare?. The Cambricon case shows that US technological sanctions are not holding back China, but rather reorganizing its industry. They are creating a new class of state-aligned tech elites, years after the Chinese government crushed its private giants. The US government has cut off China’s access to advanced chips, but in exchange has given away captive markets to companies like Cambricon. The result is a Chinese semiconductor industry that is weaker technically but more dependent on the government. It’s not the free market that chooses the winners, it’s political favor. The big question. What happens when protectionism is no longer enough? Cambricon achieved its first quarterly profit in the fourth quarter of 2024, four years after going public. It’s not bad either. But its growth depends on the government tap remaining open and Chinese companies having no alternative. If US restrictions are eased or if domestic competitors like Huawei gain traction, the party could end quickly. Chen Tianshi has built a fortune of 22.5 billion on political arena. The history of technology suggests that these types of foundations do not usually last decades. Featured image | Cambricon In Xataka | China was no longer supposed to be able to get its hands on NVIDIA’s most advanced chips. Until he found a shortcut in Indonesia

In 2019, Iberia lost a dog before flying. Now the European Justice says that it is worth the same as a suitcase

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After six years of trials, the Court of Justice of the European Union has issued its verdict: a dog is a suitcase. The question that the European court had to resolve is whether the loss of a pet should entail greater compensation than that contemplated for a suitcase. And the response has been blunt. October 22, 2019. That was the day an Argentine family lost their dog Mona. That day, the family was at the Ezeiza airport, next to Buenos Aires, to travel to Barcelona. Given the company’s regulations, Mona had to travel in a carrier in the hold of the plane, but during the loading operation, the dog escaped from the control of the operators and, scared, ran towards the runway. They explained those days in The Vanguard that Grisel, its owner, was completely sure that she had closed the cage properly. However, once they were seated, a flight attendant approached to notify them of what had happened and confirm that the dog had escaped. The mother, who was accompanying Grisel, then claimed to have seen her dog running away and the workers trying to catch her but they were not allowed to get off the plane. Loss. After this first moment of anguish had passed, the family claimed that the Iberia workers confirmed that the dog had been trapped and that they had to give them a telephone number so that a contact could come get the animal at the airport. However, when Christian, the owner’s brother, went to the airport, they told him that the dog had escaped again and that they had not been able to catch her. Since then, the family did everything possible to investigate in the vicinity of the airport if the animal was nearby but with no luck. Iberia’s response. Then, the family was already indicating that they were unhappy with how Iberia had handled the situation. “We do not have any type of response from the airline. Iberia tells us that as happened in Argentina, nothing can be done from Spain,” they explained to the Catalan newspaper at the time. For its part, from Iberia in Argentina, the company assured Clarion that they were very sorry for what happened and that both Iberia and the airport manager kept the search active. According to her version, the animal “broke one of the sides of the cage and escaped. Before shipping any cage with an animal inside, we always seal the opening doors to prevent the animal from opening it and escaping. However, Mona broke the opposite side of the cage and that’s why she got out.” They confirm that the workers managed to recover Mona but she bit the worker’s arms and face, fleeing again. “Non-material damage”. Given the animal was lost, the family decided to report Iberia to claim compensation for what happened. Given the seriousness of the matter, the family requested that the company pay 5,000 euros for “non-material damages”, which Iberia refused, they explain in Guardian. They explain in the English newspaper that Iberia agreed to compensate for the loss of the animal since it had escaped under the responsibility of its workers. However, they were not willing to pay more than would be paid for the loss of any luggage. That is, they would pay but the same amount that they would pay for the loss of a suitcase. Europe agrees… with Iberia. During a process that has lasted six years, since the Madrid game they escalated the debate in 2024 to the Court of Justice of the European Union who, finally, ruled in favor of Iberia. The company will compensate the family as if they had lost a suitcase. That is to say, just under 1,600 euros which is the maximum amount contemplated for these cases. When the issue was brought to the European court, Iberia defended itself, arguing that “It makes no sense to equate animals with people. The owner, the only one who fully understands the animal, is the one who chooses to expose it to the often stressful and challenging experience of traveling by plane.” And he stressed that “it is his responsibility to prepare it for the trip, assume the risk of exposing it to an inhospitable environment and guarantee its veterinary aptitude. But the most important thing is that only he can assess the deep emotional bond with his pet and, therefore, the moral damage he would suffer if something happened to him during transport.” How is a pet valued? According to the Court of Justice of the European Unionvery simply: a special declaration of the value of the pet. This is what, in the opinion of the European court, the family should have signed and the company accepted. When this agreement is reached, the company agrees to pay a higher compensation if something happens but the passenger also pays a surcharge for the transportation of the animal. This is, in the opinion of Carlos Villa Corta, the family’s lawyer, a “missed opportunity to continue raising awareness about the rights of animals and the people who care for them. The Court of Justice of the European Union considers that pets do not deserve special or improved legal protection compared to a simple suitcase,” in words reported by Guardian. What the European court alleges is that the Montreal Convention that regulates these cases speaks of “people and luggage” and that, therefore, the term people would cover the damages to the “passenger” and that everything else must be considered as luggage. And they emphasize: “the fact that the protection of animal welfare is an objective of general interest recognized by the European Union does not prevent animals from being transported as ‘baggage’ and being considered as such for the purposes of liability resulting from the loss of an animal.” Photo | TA-WEI LIN and Miguel Angel Sanz In Xataka | What the law says about breaking a car window when a dog is suffering from heat stroke

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