Following Chamath Palihapitiya’s publication of his investment thesis on Mitra Chem, I wanted to share some of my writings on the lithium industry in a similar format (1-pager). I also believe that, amid growing concerns over the Omicron variant and faster-than-expected tapering, here is now the best period to get knowledge about secular growth and megatrends, and position

I’ve been interested in this industry since early 2021 and I found it appealing from both a top-down and bottom-up perspectives. I will not share any view on specific stocks but I must report that I do own shares in Albemarle and SQM since early 2021.

Actors

• Lithium Producers: Ganfeng, Tianqi Lithium, Albemarle, SQM, Livent, Orocobre, Lithium Americas
• Spodumene* Producers: Pilbara, Mineral Resources, etc..
• Tons of small-cap “emerging projects”: Piedmont Lithium, Ioneer, Neo Lithium, Bacanora Lithium, Savannah Resources, etc..

The five first mentioned lithium producers above account for 80% of the annual global production of lithium.

* raw resource mined to produce lithium carbonate or hydroxide

Global Environment

• Climate change requires the global ramp up of electrification across a wide range of carbon-based sectors, including transportation responsible for 16.2% of global greenhouse gas emissions in 2016 (World Resources Institute, 2020).  Lithium is an essential component of this shift thanks to its electrical properties.
• Traditional market usage and accelerating EV adoption, coupled with growing charging infrastructure and government support, are placing inevitable strain upon the lithium supply chain.
• China is dominating the global share of conversion facilities and battery production. Over reliance on other countries leaves the USA and Europe at a significant risk to achieving an independent sustainable energy future. It will lead to investment opportunities for lithium producers with conversion capabilities and battery producers located in the USA/Europe.

Drivers, Expectations and Opportunities

• Primary driver of lithium demand is EV demand, itself driven by:
  • Regulatory framework, government incentives and strong OEMs commitments
  • Growing charging infrastructure and improving battery technology with full manufacturing cost parity with combustion engine cars to be reached by 2025-26
  • 2020 vs. 2030e vs. 2040e global new EV sales market penetration: 4% vs. >40% vs. >70%. EV were 7.2% of total passenger car sales in 2Q 2

From what I've heard, the grade is easy in general but the reading can be dense.

What i want to know is if there is any group project component in the course, and how heavy discussion component weigh in overall grade. Thanks

Hi everyone, Can you please do this survey for my team project in global perspectives? It means a lot to me and my team and will only take a few minutes! https://forms.gle/xy3QsfuJT7QJZCa6A

I will be teaching a Global Perspectives course next term, having never taught it, I feel a bit naked. I have looked at the scheme of work and the syllabus and that does give me some idea. I would love and potentially pay for some resources to help me on way. From what I am told, the students will not sit for any exam, so it is a relatively easy class on my end. I should also mention I am in China, probably need to omit a few topics, no? Thanks so much, for any advice or ideas at all.

I’m taking GHP in person with Robson and Drugs, Culture, and Society hybrid with Lopez. I’ve heard both are easy As but what’s the workload like?

For some context I will start by saying, I am a relatively new player. I started at the end of March this year but I have been enjoying the game a lot. Thanks to welfare PENs, some advice from guildies and some dedication, I am currently sitting at 640gs. I probably don't represent the average, but I do represent a new player who is quite driven to progress in this game. I've been playing T1 node wars since June and my guild recently moved T2+ (Nova OP btw) and it's been a lot of fun - albeit quite sobering to be destroyed by guilds who have a lot more experience and gear.

Yesterday, a new patch went onto Global Labs which introduces stat caps to T2 and T3 (much like the stat caps that already exist on T1). I am not inherently against caps - the fact I was able to learn how to PVP in T1 on a level playing field after only playing the game for 2 or 3 months was great. And it did always seem strange to me the absolute gulf in gear requirements between T1 and T2+. Perhaps stat caps are a logical step.

The implementation is a problem, though.

In my time playing T1 node wars, the caps were brought down significantly - again, not a problem in and of itself - but the caps they used lead to people doing very little damage to each other. There were some classes where it took the entire 5-man flex team focusing that one person to kill them in a double CC. Again, maybe not a problem if it was like that across the board. But the problem is, some classes do a lot better than others with those caps. Some classes can barely tickle someone 1v1, others can kill solo in a double CC. Some classes are somewhat tanky, others require multiple people focus firing them to kill them. It wasn't fun and it lead to a lot of T1 guilds leaving - including my own. I hear with the special evasion capped at 0% in T1 now, it feels a little better, but I digress.

Using Bigandshiny's spreadsheets (taking into account AP:DR, accuracy:evasion, and damage reduction rate), I've done my best to figure out how T2 and T3 might feel with the new caps. It seems likely that T2 will feel similar to T1 damage-wise but with special evasion capped at 20% so people will potentially be even more tanky than T1 currently. T3 looks like it will feel very similar to Mediah siege. So if you've played that, you can expect T3 to feel fairly similar.

Perhaps the tankiness is intended, although I don't think it's particularly fun, but the actual caps are laughably low

I was looking for a book that details the different ways the US uses its economic might to influence world affairs for its benefit. Things like how it uses various institutions to negotiate better terms in exchange for favours like they did with the US and Pakistan. Or how American goods are so highly valued that people are willing to bend over backwards to import them into their country. Or on the power of the dollar. A book that looks at this would be just phenomenal.

Thank you,

I need both requirements fulfilled and don’t know how any of the classes are.