1. Energy Markets, Geopolitics and the Strait of Hormuz (J.P.Morgan)
Escalating tensions involving Iran have brought renewed attention to one of the most important chokepoints in the global energy system: the Strait of Hormuz. This narrow shipping corridor connects the Persian Gulf to global markets and carries a significant share of the world’s oil and natural gas, along with fertilizers and helium, a key industrial gas used in semiconductor manufacturing.
J.P. Morgan’s recent energy analysis linked above notes that roughly one fifth of global oil consumption and more than a quarter of maritime oil trade pass through the strait, which helps explain why geopolitical tensions in the region can quickly translate into volatility in oil prices. The report also highlights how exposure to energy shocks varies across economies. Countries that combine high fossil fuel consumption with high import dependence tend to be most vulnerable when prices spike. Several European and Asian economies fall into this category.
One useful perspective from the report is that the global economy has become less oil intensive over time. Improvements in efficiency, technological change and diversification of energy sources mean that each unit of economic output requires less oil than in past decades. While geopolitical shocks can still drive short-term volatility, the broader economic impact may be more muted than in earlier periods, an important reminder for long-term investors.
2. Pearl #2 was promoting an Earth Week webinar which has passed.
3. Landmark Verdict Says Meta Harmed Children, Allowing Adults to Prey on Them
In March, a jury found Meta liable for harming children, citing failures to prevent exploitation, predator contact, and exposure to harmful content on its platforms. A separate case reached a similar conclusion, finding that platform design contributed to addictive use patterns and mental health harm. These rulings come against a broader backdrop. U.S. teens now spend an average of 4.8 hours per day on social media alone, with total screen time often far higher, exceeding 9 hours per day when gaming, messaging, and video are included.
In The Anxious Generation, NYU professor Jonathan Haidt describes this as a large-scale shift in childhood, driven by smartphone-based engagement and reduced real-world interaction. What’s emerging is not just a debate about individual platforms, but about the cumulative impact of always-on digital environments on how young people spend their time and attention.
This is not abstract. As a parent, I’ve watched how quickly screens can become central in a child’s life, often in ways that are difficult to manage or unwind.
For investors, scrutiny is unlikely to remain confined to a single company. Legal, regulatory, and societal pressure may increasingly focus on how these products are designed and the role they play in shaping behavior.
If any of these spark a thought or raise a question, I welcome the conversation.
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