The U.S. entertainment and media industry (i.e., show business) is part of the tertiary sector of the economy. The industry has traditionally been divided into five segments: film, printed books and newspapers, radio, linear television, and experiences (live events, theme/amusement parks, cruises, and casinos). However, the rise of (1) social media and (2) new technologies enabling the delivery of entertainment on-demand in digital form have led to a blurring of these lines. Consumers now have access to social media platforms offering user-generated content and the ability to enjoy creative content by streaming it to directly to their mobile devices.

The Financial Services Industry is massive and growing. The industry accounts for 7.8% of total U.S. gross domestic product ($2 trillion). There are 531,000 financial and insurance establishments in the industry that employ 6.7 million people. Everyone uses financial services in one form or another. However, it is bewildering to grasp the industry. The financial services industry serves three broad customer markets: (1) government entities (banking services, monetary authority, tax collections, and debt and mortgage-backed securities offerings), (2) commercial enterprises (banking services, commercial loans, treasury and payment processing, trade, real estate asset management, investment banking, M&A advisory, institutional brokerage, commercial cards, commodities trading, and business insurance, and (3) individuals (banking, financial planning, stock brokerage, mutual funds, personal lines insurance, credit cards, and home, auto and student loans).

The U.S. “Building and Construction Industry” is enormous, covering planting trees in the state of Washington, to buying a refrigerator from Home Depot in Atlanta, and everything in between. This vast industry is the largest in the economy, accounts for 13% of gross domestic product ($3.03 trillion), and employs 11 million people (6.8% of the U.S. workforce). Broadly speaking, the Building and Construction Industry consists of three sectors: (1) upstream, which covers land acquisition and development and the manufacturing and dealing of building materials such as metal, wood and plastic, heavy machinery, work vehicles, and other components used in building construction, (2) midstream, which consists of erecting structures in three markets: (a) homebuilding for single-family homes, (b) commercial real estate, and (c) infrastructure, and (3) downstream, which encompasses real estate leasing and sales and property management.

The U.S. defense industry comprises over 100 participants but is top heavy as 10 defense contractors account for 50% of total defense revenue. The largest manufacturers are Lockheed Martin, Boeing, Raytheon Technologies, General Dynamics, and Northrup Grumman. The defense industry sells military products to essentially one customer--the U.S. government (and primarily the Department of Defense). In turn, the U.S government sells certain systems to allies. The defense industry is divided into five product segments: Aeronautics, Defense Systems, Intelligence and Mission Systems, Space and Satellite Systems, and Marine Systems. These systems are rarely produced by only one defense contractor. Instead, one prime contractor typically obtains (and then assembles into a completed system) key components and sub-assemblies from other defense contractors and large industrial companies such as GE, Honeywell, Cummins, and Caterpillar. These companies also provide aftermarket maintenance, modernization and sustainment services for these defense systems.

Semiconductors are one of the most essential products of modern living, but they are confusing to many. It doesn’t help that they are hidden inside electronic devices and go by many different names (microprocessors, CPUs, chips, chipsets, integrated circuits, GPUs, microcontrollers, and system on a chip). Semiconductors are tiny electronic circuits made up of materials that partially conduct electricity. They are the brains for millions of electronic devices, such as personal computers (PCs), smartphones, appliances, weapons systems, TVs, car infotainment systems, medical and industrial equipment, and data center servers. The semiconductor industry comprises pure-play foundries, chip designers, and integrated design manufacturers based in the U.S., Taiwan, South Korea, Japan, Germany, Switzerland, the Netherlands, and China. The leading players in selected markets are (a) Qualcomm in chipsets for mobile devices, (b) Intel Corporation and AMD in processors for PCs, (c) NVIDIA in graphics processors for gaming and video streaming on PCs, and (d) Infineon Technologies in chips for car electronic systems.

The healthcare industry comprises 18% of GDP (or $4.4 trillion), making it the second largest economic sector in the U.S. The average American spends more than $11,000 per year on physician care, medical insurance, prescription drugs, first aid supplies, wheelchairs, canes, and other medical supplies.

The health care system includes life sciences R&D, medical device and pharmaceutical manufacturing and distribution, hospitals, health insurance, and pharmacies, and is heavily regulated. The government is involved at every level of our health care system, from the regulatory approval of new drugs (including vaccines) and medical devices, to setting standards and rates for hospital operations, to the use of tax dollars for funding patient care for seniors and low-income families.

U.S. automakers and their suppliers comprise the country’s largest manufacturing sector and are responsible for 3% of our $24 trillion gross domestic product. Over 1.7 million people in the U.S. are employed by the auto industry, with a further net employment impact on the economy of nearly 8 million jobs (4.5% of all U.S. jobs). Needless to say, the auto industry is a driving force of the economy. Despite the industry’s maturity (dating back to the 1890s!), it is presently among the most dynamic industries as it transforms to low and zero carbon emission vehicles. Today, the vast majority of vehicles (96%) are internal combustion engine (ICE) vehicles. However, governments and consumers are driving demand for eletric vehicles (EVs). Approximately 4% of vehicles are currently hybrids or all-electric, but sales jumped 80% for electric cars in 2020. Auto executives project that 50-90% of new vehicle sales will be all-electric by 2030, which would be a seismic shift in the industry.

Food and beverages are essential to living, and not surprisingly, the food industry is one of the largest U.S. economic sectors. Nearly 1.7 million people are employed in food and beverage manufacturing alone, and in 2020 the industry’s foodservice and food retailing segment supplied $1.69 trillion worth of food to consumers. The industry comprises companies of all sizes, including some of the world’s largest companies and small, family-owned farms. These organizations are engaged in growing crops, raising and harvesting animals for meat, commercial fishing, processing and packaging intermediate and finished beverage and food products, transportation, storage, wholesale distribution, and retailing. Food is ultimately sold into two consumer markets: (1) food consumed at home, where grocery and convenience stores sell to consumers for home consumption, and (2) food consumed away from home, where restaurants, schools, military bases, and hospitals provide on-premises foodservice to diners, students, soldiers, and patients. Each step in the food supply chain is regulated by various government agencies.

Each week we are bombarded with dozens of national economic indicators (GDP), government-related indicators (fiscal expenditure), business-related indices that track producer prices, business confidence, and consumption-related indicators (CPI). As a whole, these indices provide information on how well or poorly the economy or sector is performing (lagging indicators) and what is likely to happen in the future (leading indicators). Despite the apparent conflict among different indices, with a thorough understanding of the basic flows of an economy and what each index measures, we can appreciate the value of the key economic indices. One Page Thinking has created (a) a diagram identifying the key players in the U.S. economy, (b) a glossary highlighting 24 of the most common indices (among hundreds), (c) simplified map of economic flows plotting (i) the national indices and (ii) indices that track government, business, and consumer economic activity.

Each week we are bombarded with dozens of national economic indicators (GDP), government-related indicators (fiscal expenditure), business-related indices that track producer prices, business confidence, and consumption-related indicators (CPI). As a whole, these indices provide information on how well or poorly the economy or sector is performing (lagging indicators) and what is likely to happen in the future (leading indicators). Despite the apparent conflict among different indices, with a thorough understanding of the basic flows of an economy and what each index measures, we can appreciate the value of the key economic indices. One Page Thinking has created (a) a diagram identifying the key players in the U.S. economy, (b) a glossary highlighting 24 of the most common indices (among hundreds), (c) simplified map of economic flows plotting (i) the national indices and (ii) indices that track government, business, and consumer economic activity.

The information technology industry comprises companies engaged in the production, transmission, processing, storing, and selling of information: telecommunications, entertainment media , IT infrastructure and computer manufacturing, software development, cloud services, IT consulting, and defense. It is the sixth largest U.S. economic sector, generating more than $1.8 trillion (10%) of U.S. GDP and employing just over 7% of the U.S. workforce. The digitization of information and drive to make technology more accessible has led to a geometric expansion of data collection, analysis, and use. Every industry sector is being pushed to embrace hybrid private and public clouds, container-based applications, virtualized workloads, and Kubernetes clusters to keep up. Business data has always been a valuable, competitive resource. However, through focused investment in cloud computing, big data, storage management, security, and analytics applications, companies are now collecting, analyzing, and extracting maximum value from their data in structured ways to optimize processes and innovate.

The U.S. federal government provides services to the country through its 4.32 million civilian and military employees across the 15 Cabinet departments, 268 bureaus, and 137 independent agencies. The resources required to fund this massive operation are astounding! The annual budget is proposed by the President for review, debate, and adoption by the House and Senate into the annual appropriations law in time for the fiscal year from October 1 to September 30. On May 28th, President Biden proposed a $6 trillion budget, with discretionary funding increases for education, health, climate change, and the environment, while maintaining spending levels on defense and homeland security. Due to government commitments in programs like Social Security, Medicaid, and Medicare, approximately $4 trillion of the budget is non-discretionary. The government is projected to collect $4.174 trillion dollars in tax revenue, resulting in a shortfall (deficit) of $1.837 trillion, which will be paid for through the issuance of U.S. Treasury bills, notes, and bonds.

Oil and gas products are delivered for society’s most vital functions (transportation, heating, electricity, chemicals, food preservation, and materials) through a web of refining, storage, and pipeline transportation systems. The 2021 cyberattack that disabled the Colonial Pipeline, which distributes 45% of motor fuel to the East Coast, exposed vulnerabilities of the U.S. pipeline system. The resulting fuel shortages, panic buying and chaos emphasize the need to understand all phases of the oil and gas ecosystem. Crude oil and natural gas are extracted from beneath the earth's surface and then refined into dry natural gas, natural gas liquids, and petroleum fuels for ultimate consumption. These products are transported primarily through an interconnected system of gathering, feeder, transmission, and service pipelines. Pipeline operators rely on computers to monitor and control pressure, flow rates, valves, and compressors, making pipelines vulnerable to cyberattack. The growth of renewable energy sources will reduce reliance on carbon energy, but oil and gas remain a vital part of the landscape and must be reliable and protected from attack.

Following recent mass killings of school children in Uvalde Texas, and black grocery store shoppers in Buffalo, New York , national attention has once again returned to gun safety and what, if anything, can be done to stem the tide of violence. Guns have been a part of our culture since the founding of the country, and the “right of the people to keep and bear arms” was enshrined in the Constitution in 1791. In 2021, there were over 405 million guns in circulation in the U.S., more than 1.2 firearms for each resident in the total population. Over 42% of all American households own a firearm. Sadly, there are an average of 45,000 deaths annually from gun violence, 54% by suicide and 43% by homicide. Society is challenged to reduce the harmful impact of guns without unduly infringing upon individual rights. Gun owners and their advocacy groups fiercely oppose gun regulation, from bans on assault weapons and high capacity magazines, to closing the “gun show” loophole around background checks and repealing gun industry immunity. However, we each ne mass shooting, the pubic is becoming more insistent that Congress take action.

With ever-increasing urgency, society is demanding that companies serve a social purpose and benefit all stakeholders, including employees, customers, and the communities in which they operate. Corporate social responsibility and sustainability have evolved over the years as companies strive to be an intentional force for good (and be recognized by investors and the public for doing so), rather than their “good deeds” being simply the byproduct of long-term wealth creation for shareholders.

In 2015 the United Nations established Sustainable Development Goals, and since then independent agencies have created frameworks, standards, and ratings to measure Environmental, Social, and Governance (“ESG”) performance. While the buzzwords have changed, the pillars of ESG reflect core values for achieving a sustainable future.

Now that the American Rescue Plan for Covid-19 relief is law, the Biden Administration will turn its attention to the creation of jobs to (a) build a modern, sustainable infrastructure and (b) meet the existential threat of climate change with clean energy production. Biden’s proposal seeks to push the U.S. electricity generation industry to become carbon pollution-free by 2035. Today, fossil fuels are the largest sources of energy for electricity generation (natural gas contributing 40%, coal 19%, and petroleum 0.4%), accounting for 60% of the total, while nuclear energy produces 20% of the total. Renewable energy has grown rapidly to 20% of the electricity generated in the U.S., but this form of generation will need to increase even more to achieve Biden’s 2035 target. Electricity is generated from renewable energy sources comprising wind energy (42%), solar power (12%), hydropower (37%), geothermal energy (2%), and biomass (7%). Investment in renewable energy will continue to increase due to government tax incentives. In addition, many states have mandates that require minimum power generation from renewable energy sources.

While cryptocurrency is not easily understood, and resistence and skepticism abound, the rise of crypto and its endorsement by famous wealthy supporters like Elon Musk cannot be ignored. Whereas “fiat money” (e.g., the U.S. dollar) is created by a central government as a medium of exchange, “crypto” is a decentralized digital currency also designed to be used to buy goods and services but without the backing of a government. The system itself defines whether and how new crypto units can be created and maintains an open record of transactions (the “blockchain”).

Bitcoin was released in 2009 as open-source software. Today there are more than 6,700 cryptos, but Bitcoin remains the largest and most-watched. The Bitcoin market is volatile and seems speculative as an investment, but proponents advocate its digital security, transactional transparency, and market efficiencies as hallmarks of the system. The future of crypto is impossible to predict: ever higher, crash and fail, or widespread acceptance and a state of stability.

In late 2019, a novel coronavirus now known as COVID-19 emerged in China and, because of its highly contagious nature, began sweeping across the globe. As of today, nearly 1.2 million people have died worldwide. Infectious disease experts and researchers started developing a vaccine as quickly as possible, but the road to inoculation from a new virus is long and challenging. Vaccine development, production, and distribution often take 10-15 years and require public and private collaboration.

In May the U.S. Department of Health and Human Services launched “Operation Warp Speed” to develop, produce, and distribute a vaccine with unprecedented speed by the end of 2020. To achieve this, HHS streamlined the vaccine review and approval processes and spent more than $20 billion to (a) reserve adequate doses for U.S. citizens and (b) construct or enhance manufacturing and cold distribution facilities to deliver the vaccine to clinics.

One Page Thinking reflects on how our system of voting in federal elections came to be, its shortcomings, and some ways it could be improved. The Constitution provides that the President shall be elected every four years (through the unique vehicle of the Electoral College), whereas members of the House of Representatives and approximately one third of the Senate are elected (via popular vote) every two years.

Under the Constitution, each state legislature is responsible for regulating “the time, place, and manner” for holding federal elections, but the motivations of these legislatures may give rise to manipulation for political advantage: (a) drawing gerrymandered congressional districts; (b) setting onerous registration and identification requirements; (c) erecting barriers to deny convicted felons the right to vote, and (d) restricting access to polling places and mail-in dropboxes. In addition, the administration in charge of the executive branch may impair the voting process through the manipulation of the decennial census or the U.S. Postal Service.

For the past 150 years, appointments to the U.S. Supreme Court have at times become highly politicized. In 2016, the Republican Senate majority refused to consider Obama’s nomination of Merrick Garland, a moderate, to fill the vacancy left by Justice Scalia's death. This gave Trump the ability to fill the vacancy and prevent a liberal majority on the court. The death of Justice Ginsburg has given Trump another appointment, which would cement a conservative majority for decades to come.

Some Democrats are calling for reform to prevent a conservative majority from blocking progressive legislation or overturning cherished personal freedoms (e.g., reproductive rights, LGBTQ+ rights, environmental protection, and access to healthcare). One reform proposal is to expand the size of the court to create a liberal majority, if the Democrats win the presidency and control both houses of Congress. Because packing the court could further escalate court politics and damage its legitimacy, other reform proposals merit consideration.

Gases that trap heat in the atmosphere, causing climate change worldwide, are called greenhouse gases (GHGs). GHGs consist of carbon dioxide (from fossil fuel combustion), methane (agriculture), nitrous oxide (car exhaust), hydrofluorocarbons (semiconductor manufacturing), perfluorocarbons (aluminum production), and sulfur hexafluoride (electrical transmission).

Climate scientists are focused on slowing the growth of carbon dioxide emissions as it is the primary GHG emitted by human activities (81% of the total). To combat the adverse effects of GHG emissions, 197 countries committed to take steps to mitigate and adapt to climate change in the Paris Agreement signed at the 2015 U.N. Framework Conference on Climate Change. The parties agreed to (a) keep the global average temperature increase below 2℃; (b) reduce GHGs through mitigation actions that each nation determines for itself; (c) conserve natural "sinks" that capture GHGs; and (d) support developing countries to achieve the goal.

The U.S. is a nation of immigrants and has prospered since its founding by integrating talented and industrious foreigners from all over the world. Nonetheless, immigration remains a polarizing issue due to some negative perceptions (e.g., taking jobs take from natural born citizens, consuming public resources without paying taxes, not speaking English, or committing crimes) without regard for the fact that 75% of all foreign-born U.S. residents are in the country legally.

One Page Thinking has created a diagram to help you understand the U.S. populations of authorized and unauthorized residents from a bird's-eye view by dividing the population into four categories: (a) natural born U.S. citizens, (b) foreign-born naturalized U.S. citizens, (c) immigrants with permanent residency (i.e., a green card), and (d) unauthorized residents, which garners the most political attention. Of this group, approximately 800,000 are "Dreamers" - children brought into the country illegally by their parents.

The effects of the COVID-19 pandemic have caused every company to scrutinize costs, cutting them where possible, especially by reducing employee costs. Companies have offered voluntary retirement packages to employees, instituted furloughs, restricted travel, and cut salaries or bonuses. But for some companies, these measures are insufficient, causing them to take advantage of Chapter 11 bankruptcy protection to stay afloat. Since early May, such household names as JCPenney, J. Crew, Pier 1 Imports, Hertz, Chesapeake Energy, Chuck-E-Cheese, GNC, and Neiman Marcus have filed for Chapter 11 bankruptcy.

In an attempt to demystify an admittedly complex area of the law, this diagram helps explain the steps that many struggling companies will have to take in the weeks and months to come.

One Page Thinking has created a Criminal Justice Reform Diagram in an attempt to cut through the noise by identifying proposed reforms and highlighting where they apply in the various stages of the criminal justice system.

With debates about criminal justice reform comes confronting the stark reality of racial disparities adverse to Black-Americans within the criminal justice system. As legislative bodies across the country seek to address criminal justice reform, we hope the Criminal Justice Reform Diagram lends clarity to the ongoing national discussion.