Latest news with #DavidGross
Globe and Mail
9 hours ago
- Science
- Globe and Mail
Crisis in science is turning Nobel laureates into fighters for scientific revolution
Global news media as well as prominent scientists are highlighting the crisis in both physics and cosmology, and predicting a major scientific revolution. This week, an article appeared in The Atlantic magazine [titled 'The Nobel Prize winner who thinks we have the universe all wrong']. It featured Adam Riess, who won a Nobel Prize for the shocking discovery that the expansion of universe is accelerating, due to Dark Energy. But now he thinks that the theory must be wrong. The article warned about scientists talking of revolution. A growing number now say that the 'standard model of cosmology' should be replaced. Adam Riess is among them. Way back in 2013, in a conversation with WIRED, David Gross, a Nobel laureate in physics, warned about the crisis in physics and advocated a revolution. ['Nobel laureate says physics is in need of a revolution'; WIRED; Peter Byrne]. An article in NewScientist (Dan Hooper) was titled 'The four puzzles that tell us a cosmological revolution is coming'. Another article in Live Science (Kelly Dickerson) was titled 'Why a Physics Revolution Might Be on Its Way: Physics may be turned on its head soon'. Global newspapers (BBC News, The New York Times, The Guardian, Forbes, et al) are raising alarm over the crisis in both physics and cosmology. Actually, science is in crisis, because nature does not draw clear lines between biology, chemistry, physics, math, and cosmology. Such demarcations are human-made, and artificial. After all, biology is based on chemistry, which in turn is based on physics. Global news media as well as prominent scientists are predicting that a BIG scientific revolution is imminent. A scientific revolution is INEVITABLE because of four strong reasons: 1) All three conditions are satisfied. The three key steps to overthrow and replace any accepted scientific theory are: a) Reproduce the successes of the presently accepted theory. b) Explain what it cannot. c) Make new predictions that differ and can be tested. 2) Physics and cosmology are both in crisis due to wrong notion about the shape, size and workings of the universe. The universe is actually like a (hyper) balloon, and is expanding. 3) Science rests on faulty Math. Luckily, the mistakes are so easy to comprehend that even the common people can easily understand what is wrong. A baker can understand, and so can butchers or cobblers. 4) Einstein was wrong. His concept of four dimensional SpaceTime continuum is the biggest mistake in science. Time itself is NOT the fourth dimension; time emerges from motion along 4th space dimension. Every scientific revolution in the past has ended up having enormous social and cultural influence. For example, Copernicus's helio-centrism threatened human sense of being right in the center of the universe (and hence the 'sun centric model' was bitterly opposed by the powerful church but ultimately all oppositions proved futile. In fact, the church had to issue a public apology recently for its role). Darwin's theory of evolution challenged the intuition that humans were fundamentally different from other animals. People during that time were outraged and dismissed it as plain nonsense. Yet, yesterday's nonsense ended up as today's commonsense! Einstein's relativity upended all faith in common sense ideas about the flow of time. Time started mixing with space for very fast moving objects, and time revealed its character as another dimension! The upcoming scientific revolution shall be the greatest ever, and force humans to change the way of thinking about the most basic features of the universe, including the nature of space and time. Space and Time underlies Physics and Cosmology, and are the most fundamental concepts imaginable in entire Science. It will be a conceptual revolution that would have implications far beyond the world of science. The scale of social and cultural impact of the upcoming scientific revolution is quite unthinkable. A scientific revolution is unstoppable. No one can stop a revolution whose time has come. [194 National Anthems tunes have been merged into a single tune using World's most intelligent, musical A.I. software 'Emmy', to create this United Nations Anthem (World Anthem). Kindly watch and share: ] Mr. Joseph T. Kurien (a former Cochin University graduate) is an independent researcher and a part-time science writer. He presently works in Manappuram software and consultancy. Media Contact Company Name: Manappuram software and consultancy Contact Person: Joseph T. Kurien Email: Send Email State: Kerala Country: India Website:
Yahoo
4 days ago
- Business
- Yahoo
Lincoln Financial and Bain Capital Announce Closing of Equity Capital Raise and Launch of Long-Term Strategic Partnership
The transaction closing marks the start of a multi-faceted partnership that will enable Lincoln to accelerate its strategy, unlock value creation opportunities, and provide growth capital to be deployed in areas of strategic focus. RADNOR, Pa., June 05, 2025--(BUSINESS WIRE)--Lincoln Financial (NYSE: LNC) and Bain Capital today shared the closing of their previously announced long-term strategic partnership agreement. The partnership was first announced by Lincoln and Bain Capital on April 9, 2025, and includes an $825 million strategic growth investment from Bain Capital, which acquired a 9.9% common equity stake on a post-issuance basis in Lincoln, and the establishment of a 10-year, non-exclusive strategic investment management relationship. Under the final terms, Lincoln issued 18,759,497 new common shares at $44.00 per share, based on a 25% premium to the 30-day volume-weighted average price as of April 8, 2025. This capital will be deployed toward Lincoln's strategic priorities—including growing spread-based earnings, advancing portfolio management and asset sourcing efforts, and optimizing the company's legacy life insurance portfolio. Additionally, the transaction provides Lincoln with the financial flexibility to accelerate progress toward its 25% leverage ratio target. "We're incredibly pleased to launch our strategic partnership with Bain Capital, creating significant opportunities for long-term value generation with a focus on advancing Lincoln's goal of sustained profitable growth," said Ellen Cooper, Chairman, President and Chief Executive Officer of Lincoln Financial. "Bain Capital's powerful platform, deep cultural fit and shared values will further differentiate us competitively and enable us to accelerate the execution of our strategy. The strategic and financial benefits of our mutual capabilities position us for enduring future success." "This partnership with Lincoln Financial reflects our conviction in the company's long-term strategy and the opportunity to create meaningful value through a well-capitalized, aligned growth plan," said David Gross, Co-Managing Partner at Bain Capital. "We are excited to support Lincoln in accelerating its portfolio transformation and capital allocation priorities, while leveraging Bain Capital's platform across asset classes to deliver differentiated investment capabilities and long-term scale." About Lincoln Financial Lincoln Financial helps people confidently plan for their vision of a successful financial future. As of December 31, 2024, approximately 17 million customers trust our guidance and solutions across four core businesses – annuities, life insurance, group protection, and retirement plan services. As of March 31, 2025, the company had $312 billion in end-of-period account balances, net of reinsurance. Headquartered in Radnor, PA., Lincoln Financial is the marketing name for Lincoln National Corporation (NYSE: LNC) and its affiliates. Learn more at About Bain Capital Founded in 1984, Bain Capital is one of the world's leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management. To learn more, visit Follow @Bain Capital on LinkedIn and X (Twitter). View source version on Contacts Lincoln Financial Contacts:Tina Investor RelationsKelly Media RelationsBain Capital Contacts (Stanton):Charlyn Luskclusk@ 646-502-3549Thomas Conroytconroy@ 646-502-9006 Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Business Wire
4 days ago
- Business
- Business Wire
Lincoln Financial and Bain Capital Announce Closing of Equity Capital Raise and Launch of Long-Term Strategic Partnership
RADNOR, Pa.--(BUSINESS WIRE)--Lincoln Financial (NYSE: LNC) and Bain Capital today shared the closing of their previously announced long-term strategic partnership agreement. The partnership was first announced by Lincoln and Bain Capital on April 9, 2025, and includes an $825 million strategic growth investment from Bain Capital, which acquired a 9.9% common equity stake on a post-issuance basis in Lincoln, and the establishment of a 10-year, non-exclusive strategic investment management relationship. Under the final terms, Lincoln issued 18,759,497 new common shares at $44.00 per share, based on a 25% premium to the 30-day volume-weighted average price as of April 8, 2025. This capital will be deployed toward Lincoln's strategic priorities—including growing spread-based earnings, advancing portfolio management and asset sourcing efforts, and optimizing the company's legacy life insurance portfolio. Additionally, the transaction provides Lincoln with the financial flexibility to accelerate progress toward its 25% leverage ratio target. 'We're incredibly pleased to launch our strategic partnership with Bain Capital, creating significant opportunities for long-term value generation with a focus on advancing Lincoln's goal of sustained profitable growth,' said Ellen Cooper, Chairman, President and Chief Executive Officer of Lincoln Financial. 'Bain Capital's powerful platform, deep cultural fit and shared values will further differentiate us competitively and enable us to accelerate the execution of our strategy. The strategic and financial benefits of our mutual capabilities position us for enduring future success.' 'This partnership with Lincoln Financial reflects our conviction in the company's long-term strategy and the opportunity to create meaningful value through a well-capitalized, aligned growth plan,' said David Gross, Co-Managing Partner at Bain Capital. 'We are excited to support Lincoln in accelerating its portfolio transformation and capital allocation priorities, while leveraging Bain Capital's platform across asset classes to deliver differentiated investment capabilities and long-term scale.' About Lincoln Financial Lincoln Financial helps people confidently plan for their vision of a successful financial future. As of December 31, 2024, approximately 17 million customers trust our guidance and solutions across four core businesses – annuities, life insurance, group protection, and retirement plan services. As of March 31, 2025, the company had $312 billion in end-of-period account balances, net of reinsurance. Headquartered in Radnor, PA., Lincoln Financial is the marketing name for Lincoln National Corporation (NYSE: LNC) and its affiliates. Learn more at About Bain Capital Founded in 1984, Bain Capital is one of the world's leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management. To learn more, visit Follow @Bain Capital on LinkedIn and X (Twitter).
