The second law of thermodynamics states that the entropy of the universe is always increasing'. Entropy, in non-engineering parlance, is a measure of the disorder of a system. We see this law playing out in the global political landscape the rise of unabashed xenophobic nationalism has led to events like Brexit, which will lead to higher business uncertainty across the world, directly impacting the demand environment for Indian IT companies over the next few years. In the first report of our thermodynamics series' (December 2015), we had downgraded the IT sector based on the inefficient capital allocation policy that it had followed over the last...