The Bacalia Journal

Long-term perspectives on infrastructure, land, technology, and capital.

These essays reflect how we evaluate assets and make decisions as long-term owners. Many perspectives address how long-term assets should be structured to endure business cycles without compromising strategic direction.

Marinas Could Be The Infrastructure Asset Class The Market Is Missing

October 2026

Published in Forbes Business Council. Giuseppe Cicatelli argues that scarce waterfront, high barriers to entry and recurring revenue can justify treating coordinated marina networks as infrastructure, provided owners manage maintenance, resilience, insurance and regulatory risk.

Everyone Wants to Build AI Apps — I'm Betting on What Powers Them. Here's Why.

October 2026

Published in Entrepreneur. Giuseppe Cicatelli explains why he is investing in the infrastructure and inference layer of AI rather than in applications.

Giuseppe Cicatelli on the Financial Revolution Beyond Fintech

October 2026

Published in Block Telegraph. Giuseppe Cicatelli examines how stablecoin payment rails, tokenized securities, perpetual derivatives, AI agents and prediction markets are making finance more continuous and programmable — and why clear ownership, resilience under stress and real safeguards will determine which innovations endure.

Giuseppe Cicatelli on Argentina's Next Chapter: Beyond the Milei Experiment

October 2026

Published in Luxury Miami Magazine. Giuseppe Cicatelli argues that Argentina's stabilization should be judged by whether it builds lasting confidence for people and businesses, pointing to opportunities in energy, mining, infrastructure and finance that depend on durable institutions and the practical delivery of announced projects.

Giuseppe Cicatelli's Long Bet on Puerto Rico

September 2026

Published in CEO Official Magazine. The profile covers Bacalia Group's Puerto Rico portfolio — marinas, parking, hotel and medical-office properties — along with post-hurricane operations, local teams, and the long-term thinking behind Giuseppe Cicatelli's investment approach.

Scarcity Is the Strategy: Inside Giuseppe Cicatelli's Family Office

September 2026

Published in High Net Worth Magazine. The profile examines Giuseppe Cicatelli's family-office approach to scarce assets, including docks and marinas, parking facilities, AI compute, and quantum-technology investments.

Giuseppe Cicatelli: Puerto Rico Needs a New Economic Model

September 2026

Published in Grit Daily. In a written Q&A, Giuseppe Cicatelli discusses how education, talent retention, tourism, technology and infrastructure can help Puerto Rico build a more productive economy.

In Spanish: Ávilared — Giuseppe Cicatelli: Puerto Rico necesita un nuevo modelo económico

Giuseppe Cicatelli on the Next Wave of Frontier Investment

September 2026

Published in Financial Tech Times. A written Q&A on the commercial milestones and investment discipline behind AI, energy, space manufacturing, photonic quantum computing and brain–computer interfaces.

In Spanish: CLM24 — Giuseppe Cicatelli sobre la próxima ola de inversión de frontera

Giuseppe Cicatelli on the Future of Climate-Resilient Marinas in the Aftermath of Maria and Irma

September 2026

Published in Transit Tomorrow. A perspective on coastal infrastructure after Irma and María, connecting engineering, energy continuity, insurance and operational preparedness with long-term marina resilience.

In Spanish: El Periódico de Yecla — Giuseppe Cicatelli y el futuro de las marinas resilientes al clima tras el paso de los huracanes María e Irma

Grand Caribbean Marinas Advances Floating Wave Attenuator Project at Marina Puerto Chico, Expanding Puerto Rico's Blue Economy Infrastructure

September 2026

Company announcement distributed through ACCESS Newswire. Grand Caribbean Marinas reports progress on the floating wave attenuator at Marina Puerto Chico's Docks A1 and A2, supporting coastal resilience and Puerto Rico's marine economy.

In Spanish: El Palomitrón — Grand Caribbean Marinas avanza el proyecto de atenuador de olas flotante en Marina Puerto Chico, ampliando la infraestructura de la economía azul de Puerto Rico

How I Found Opportunity Where Most Investors Saw Risk

May 2026

Published in Entrepreneur. How crisis can create entry points into durable real assets for investors prepared to operate with patience, local commitment, and long-term conviction.

From Debasement To Deployment: Funding The Technologies That Still Drive GDP

May 2026

Published in Forbes Business Council. Giuseppe Cicatelli argues that with debt-driven growth constrained by monetary debasement and demographic aging, funding technologies that raise productivity — AI, automation, robotics and cloud infrastructure — is the remaining path to sustainable GDP expansion.

Natural Capital as Patient Capital

November 2025

The compounding value of stewarded land across generations.

On Prediction Markets as Information Infrastructure

September 2025

Why Polymarket and Kalshi represent a new category of information infrastructure with structural advantages over traditional forecasting.

On Autonomous Trucking as Applied Infrastructure

August 2024

Why self-driving trucks address a structural driver shortage and generate durable value as applied infrastructure.

On AI Chip Infrastructure as Foundational Capital

July 2024

Why Cerebras Systems and Groq represent foundational infrastructure for the artificial intelligence economy.

The Economics of Urban Scarcity

October 2023

How the humble parking facility is being redefined as a dynamic intersection of logistics, energy, and connectivity.

Bacalia Strengthens Its Global Leadership with the Entrance to the World Economic Forum

February 2023

Company announcement distributed through GlobeNewswire. Bacalia Group is selected to join the World Economic Forum's New Champions Community. Giuseppe Cicatelli explains why sustainability and social responsibility are essential for scalable, long-term businesses, highlighting Grand Caribbean Marinas and GrowthX Farms' work in controlled-environment agriculture.

On Concentrated Conviction

October 2022

Why diversification is the enemy of exceptional returns in permanent capital.

On Maritime Infrastructure as Institutional Capital

August 2021

Why marinas represent foundational infrastructure with multi-century durability.

The Case for Patient Capital

September 2020

Why the best returns accrue to capital that can wait.

Bacalia Group Bullish on Puerto Rico

July 2019

Published in The Weekly Journal. Giuseppe Cicatelli discusses Bacalia Group's investments in Puerto Rico since 2014 — marinas in the Fajardo area, a hotel, a medical center and parking facilities — and why he sees nautical tourism as a major opportunity for the island.

Desafíos de la Jornada de la Juventud a Panamá

February 2019

Published in Forbes México (in Spanish). Giuseppe Cicatelli argues that Panama's investment-led growth model must diversify through human capital, productivity and regulation that attracts talent, and sees World Youth Day as an opportunity to promote Panama as a destination for tourism, business and life.