Business
Tech billionaires seem to be doom prepping. Should we be worried?
Zoe KleinmanTechnology editor
BBCMark Zuckerberg is said to have started work on Koolau Ranch, his sprawling 1,400-acre compound on the Hawaiian island of Kauai, as far back as 2014.
It is set to include a shelter, complete with its own energy and food supplies, though the carpenters and electricians working on the site were banned from talking about it by non-disclosure agreements, according to a report by Wired magazine.
A six-foot wall blocked the project from view of a nearby road.
Asked last year if he was creating a doomsday bunker, the Facebook founder gave a flat “no”. The underground space spanning some 5,000 square feet is, he explained, “just like a little shelter, it’s like a basement”.
That hasn’t stopped the speculation – likewise about his decision to buy 11 properties in the Crescent Park neighbourhood of Palo Alto in California, apparently adding a 7,000 square feet underground space beneath.
Bloomberg via Getty ImagesThough his building permits refer to basements, according to the New York Times, some of his neighbours call it a bunker. Or a billionaire’s bat cave.
Then there is the speculation around other tech leaders, some of whom appear to have been busy buying up chunks of land with underground spaces, ripe for conversion into multi-million pound luxury bunkers.
Reid Hoffman, the co-founder of LinkedIn, has talked about “apocalypse insurance”. This is something about half of the super-wealthy have, he has previously claimed, with New Zealand a popular destination for homes.
So, could they really be preparing for war, the effects of climate change, or some other catastrophic event the rest of us have yet to know about?
Getty Images NewsIn the last few years, the advancement of artificial intelligence (AI) has only added to that list of potential existential woes. Many are deeply worried at the sheer speed of the progression.
Ilya Sutskever, chief scientist and a co-founder of Open AI, is reported to be one of them.
By mid-2023, the San Francisco-based firm had released ChatGPT – the chatbot now used by hundreds of millions of people across the world – and they were working fast on updates.
But by that summer, Mr Sutskever was becoming increasingly convinced that computer scientists were on the brink of developing artificial general intelligence (AGI) – the point at which machines match human intelligence – according to a book by journalist Karen Hao.
In a meeting, Mr Sutskever suggested to colleagues that they should dig an underground shelter for the company’s top scientists before such a powerful technology was released on the world, Ms Hao reports.
AFP via Getty Images“We’re definitely going to build a bunker before we release AGI,” he’s widely reported to have said, though it’s unclear who he meant by “we”.
It sheds light on a strange fact: many leading computer scientists and tech leaders, some of whom are working hard to develop a hugely intelligent form of AI, also seem deeply afraid of what it could one day do.
So when exactly – if ever – will AGI arrive? And could it really prove transformational enough to make ordinary people afraid?
An arrival ‘sooner than we think’
Tech leaders have claimed that AGI is imminent. OpenAI boss Sam Altman said in December 2024 that it will come “sooner than most people in the world think”.
Sir Demis Hassabis, the co-founder of DeepMind, has predicted in the next five to ten years, while Anthropic founder Dario Amodei wrote last year that his preferred term – “powerful AI” – could be with us as early as 2026.
Others are dubious. “They move the goalposts all the time,” says Dame Wendy Hall, professor of computer science at Southampton University. “It depends who you talk to.” We are on the phone but I can almost hear the eye-roll.
“The scientific community says AI technology is amazing,” she adds, “but it’s nowhere near human intelligence.”
There would need to be a number of “fundamental breakthroughs” first, agrees Babak Hodjat, chief technology officer of the tech firm Cognizant.
What’s more, it’s unlikely to arrive as a single moment. Rather, AI is a rapidly advancing technology, it’s on a journey and there are many companies around the world racing to develop their own versions of it.
But one reason the idea excites some in Silicon Valley is that it’s thought to be a pre-cursor to something even more advanced: ASI, or artificial super intelligence – tech that surpasses human intelligence.
It was back in 1958 that the concept of “the singularity” was attributed posthumously to Hungarian-born mathematician John von Neumann. It refers to the moment when computer intelligence advances beyond human understanding.
Getty ImagesMore recently, the 2024 book Genesis, written by Eric Schmidt, Craig Mundy and the late Henry Kissinger, explores the idea of a super-powerful technology that becomes so efficient at decision-making and leadership we end up handing control to it completely.
It’s a matter of when, not if, they argue.
Money for all, without needing a job?
Those in favour of AGI and ASI are almost evangelical about its benefits. It will find new cures for deadly diseases, solve climate change and invent an inexhaustible supply of clean energy, they argue.
Elon Musk has even claimed that super-intelligent AI could usher in an era of “universal high income”.
He recently endorsed the idea that AI will become so cheap and widespread that virtually anyone will want their “own personal R2-D2 and C-3PO” (referencing the droids from Star Wars).
“Everyone will have the best medical care, food, home transport and everything else. Sustainable abundance,” he enthused.
There is a scary side, of course. Could the tech be hijacked by terrorists and used as an enormous weapon, or what if it decides for itself that humanity is the cause of the world’s problems and destroys us?
AFP via Getty Images“If it’s smarter than you, then we have to keep it contained,” warned Tim Berners Lee, creator of the World Wide Web, talking to the BBC earlier this month.
“We have to be able to switch it off.”
Governments are taking some protective steps. In the US, where many leading AI companies are based, President Biden passed an executive order in 2023 that required some firms to share safety test results with the federal government – though President Trump has since revoked some of the order, calling it a “barrier” to innovation.
Meanwhile in the UK, the AI Safety Institute – a government-funded research body – was set up two years ago to better understand the risks posed by advanced AI.
And then there are those super-rich with their own apocalypse insurance plans.
Getty Images“Saying you’re ‘buying a house in New Zealand’ is kind of a wink, wink, say no more,” Reid Hoffman previously said. The same presumably goes for bunkers.
But there’s a distinctly human flaw.
I once met a former bodyguard of one billionaire with his own “bunker”, who told me his security team’s first priority, if this really did happen, would be to eliminate said boss and get in the bunker themselves. And he didn’t seem to be joking.
Is it all alarmist nonsense?
Neil Lawrence is a professor of machine learning at Cambridge University. To him, this whole debate in itself is nonsense.
“The notion of Artificial General Intelligence is as absurd as the notion of an ‘Artificial General Vehicle’,” he argues.
“The right vehicle is dependent on the context. I used an Airbus A350 to fly to Kenya, I use a car to get to the university each day, I walk to the cafeteria… There’s no vehicle that could ever do all of this.”
For him, talk about AGI is a distraction.
“The technology we have [already] built allows, for the first time, normal people to directly talk to a machine and potentially have it do what they intend. That is absolutely extraordinary… and utterly transformational.
“The big worry is that we’re so drawn in to big tech’s narratives about AGI that we’re missing the ways in which we need to make things better for people.”
Getty ImagesCurrent AI tools are trained on mountains of data and are good at spotting patterns: whether tumour signs in scans or the word most likely to come after another in a particular sequence. But they do not “feel”, however convincing their responses may appear.
“There are some ‘cheaty’ ways to make a Large Language Model (the foundation of AI chatbots) act as if it has memory and learns, but these are unsatisfying and quite inferior to humans,” says Mr Hodjat.
Vince Lynch, CEO of the California-based IV.AI, is also wary of overblown declarations about AGI.
“It’s great marketing,” he says “If you are the company that’s building the smartest thing that’s ever existed, people are going to want to give you money.”
He adds, “It’s not a two-years-away thing. It requires so much compute, so much human creativity, so much trial and error.”
Getty ImagesAsked whether he believes AGI will ever materialise, there’s a long pause.
“I really don’t know.”
Intelligence without consciousness
In some ways, AI has already taken the edge over human brains. A generative AI tool can be an expert in medieval history one minute and solve complex mathematical equations the next.
Some tech companies say they don’t always know why their products respond the way they do. Meta says there are some signs of its AI systems improving themselves.
Ultimately, though, no matter how intelligent machines become, biologically the human brain still wins. It has about 86 billion neurons and 600 trillion synapses, many more than the artificial equivalents.

The brain doesn’t need to pause between interactions either, and it is constantly adapting to new information.
“If you tell a human that life has been found on an exoplanet, they will immediately learn that, and it will affect their world view going forward. For an LLM [Large Language Model], they will only know that as long as you keep repeating this to them as a fact,” says Mr Hodjat.
“LLMs also do not have meta-cognition, which means they don’t quite know what they know. Humans seem to have an introspective capacity, sometimes referred to as consciousness, that allows them to know what they know.”
It is a fundamental part of human intelligence – and one that is yet to be replicated in a lab.
Top picture credits: The Washington Post via Getty Images/ Getty Images MASTER. Lead image shows Mark Zuckerberg and a stock image of a bunker in an unknown location
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Business
Beyond oil: How US-Iran war & Middle East crisis may hit India’s economy – sector-wise impact explained – The Times of India
Beyond oil, the Middle East crisis has other implications for the Indian economy, especially if the US-Israel-Iran war continues for a long duration leading to major supply disruptions. In recent days, a series of missile and drone attacks have struck multiple energy and logistics installations across the Gulf region. These incidents have heightened concerns that shipments of oil and gas moving through the Strait of Hormuz – a vital artery for global energy trade – could face disruption.Between March 1 and March 3, important facilities in Saudi Arabia, Qatar, the United Arab Emirates and Oman came under attack. The situation has fueled concerns that the conflict could trigger a wider shock to global energy supplies.But beyond oil, it’s important to note that West Asia plays an important role in supplying India with essential commodities. In 2025, India’s imports from the region of approximately $98.7 billion included critical resources such as energy, fertilisers and industrial inputs.
1. Oil: Immediate risk
Petroleum is the most immediate area of exposure. In 2025, India sourced roughly $70 billion crude oil and petroleum products from West Asia.“Crude oil feeds India’s refineries, which produce petrol, diesel, aviation fuel and petrochemical feedstocks used across the economy. India has about 30 days of stocks, any prolonged disruption in shipments could quickly push up fuel prices, raising transport and logistics costs and feeding into inflation. Farmers would also feel the pressure through higher diesel prices for irrigation pumps and tractors,” says Ajay Srivastava, founder of Global Trade Research Initiative (GTRI).Also Read | Russian crude to rescue! Ships carrying Russia’s oil head to India amid Middle East supply shock: Report
2. LNG Supplies
Supplies of natural gas are also exposed to potential disruptions. In 2025, India sourced liquefied natural gas or LNG worth $9.2 billion from West Asia, which is around 68.4% of its total LNG imports. LNG is also a key input for fertilizer manufacturing units, gas-fired power plants and city gas distribution systems that provide compressed natural gas (CNG) for vehicles and piped gas for household cooking.Signs of this vulnerability have already emerged. Qatar’s Petronet LNG halted LNG deliveries to GAIL starting March 4, 2026 due to restrictions affecting vessel movement.
3. Risks to LPG
Liquefied petroleum gas (LPG) imports from West Asia were $13.9 billion in 2025, making up 46.9 % of India’s total LPG purchases. LPG continues to serve as the main cooking fuel for millions of households. With reserves covering only about two weeks of consumption, any interruption in supply could quickly impact the availability of cooking fuel.
4. Exposure in Fertiliser Supplies
India’s agricultural sector could also feel the impact through fertiliser imports, says GTRI in its report. In 2025, fertiliser purchases from West Asia stood at $3.7 billion. Any disruption in supplies during the crop cycle could lead to reduced fertilizer availability, increase the government’s subsidy burden and eventually push up food prices.Also Read | India’s energy security exposure to Middle East: How much oil, LPG, LNG reserves do we have?
5. Diamond Trade and Exports
India’s diamond export sector is also closely tied to supplies from the Gulf. Diamonds of around $6.8 billion were imported from the Middle East in 2025, which is 40.6% of its total imports of these stones. Rough diamonds are in turn processed in India’s cutting and polishing centres, especially in Gujarat’s Surat, before being exported to international markets as polished gems. Any interruption in the flow of raw diamonds could slow manufacturing activity and have an impact on employment within the jewellery industry.
6. Industrial Raw Material Supplies
A number of industrial inputs sourced from the Gulf are also crucial for India’s manufacturing sector. India bought polyethylene polymers of around $1.2 billion from West Asia in 2025. Polyethylene is widely used in products such as packaging materials, plastic piping, storage containers, consumer goods and agricultural films used in irrigation systems.
7. Construction-Related Materials
India’s construction industry also relies heavily on mineral imports from the region. In 2025, the country imported limestone worth $483 million from West Asia. Limestone is a key ingredient in cement production, and hence any shortage could raise the cost of cement, thereby possibly slowing infrastructure development.
8. Metals Supply Chains
Supply links with West Asia also extend to the metals sector. India imported direct reduced iron of around $190 million from the Middle East region in 2025. Additionally, the country sourced copper wire worth $869 million from West Asia. Copper wire is widely used in power transmission networks, electrical machinery and renewable energy infrastructure.As GTRI notes: Together, these figures highlight how closely India’s economy is tied to West Asian supply chains. “If disruptions to shipping through the Strait of Hormuz continue beyond a week, the effects could quickly spread from energy markets to fertiliser supplies, manufacturing inputs, construction materials and export industries such as diamonds. What begins as a regional conflict could rapidly evolve into a broader supply shock for the Indian economy,” the GTRI report concludes.
Business
Aviva flags potential for Iran conflict to send claims costs rising
The boss of insurer Aviva has cautioned that a lengthy conflict in the Middle East could send the cost of vehicle parts and repairs surging in an echo of the aftermath seen after Russia’s invasion of Ukraine.
Chief executive Amanda Blanc said the group has seen limited claims so far relating to the US-Israel war with Iran, but flagged the potential for claims costs to jump if supply chains are badly disrupted for a long time.
She said: “We have a good case study on this in terms of the Ukraine situation back in 2022 and the impact on the supply chain, which had an inflationary impact on vehicle parts and replacement vehicles.
“Obviously, if this goes on for a prolonged period of time, we would expect that this could have some impact, but to speak about this from an Aviva perspective, we are very well placed to manage that with our supply chain and our owned garage network.”
Ms Blanc added: “We will take action as necessary to make sure we look after our customers and price accordingly for any new inflationary impact.”
She said there had been “very limited” travel claims so far.
Ms Blanc added: “We have had calls from customers asking about whether they should travel and those sorts of things, and we are pointing them to the Foreign Office guidance on that.”
Full-year results from Aviva on Thursday showed annual earnings leaped 25% higher, while the firm also announced it was resuming share buybacks as it continues to benefit from its £3.7 billion takeover of Direct Line.
The group unveiled an earnings haul of £2.2 billion for 2025, up from £1.8 billion in 2024, including a £174 million contribution from Direct Line, helping the group hit its financial targets a year early.
Aviva unveiled a £350 million share buyback after putting these on hold due to the Direct Line deal, which completed last year.
Ms Blanc cheered an “outstanding performance”.
She said: “We have transformed Aviva over the last five years and whilst we have made significant progress, there is so much more to come.”
Artificial intelligence (AI) is also a big area of focus for the firm, according to Ms Blanc.
“We have clear strengths in artificial intelligence which are creating major opportunities to transform claims, underwriting and customer experience,” she said.
Business
South East Water faces £22m fine for supply failures
The firm was unable to cope during high demand, Ofwat says, leading to “immense stress” for customers.
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