Bhargava and Shankar prove that as E varies over all elliptic curves over Q, the average rank of the finitely generated abelian group E(Q) is bounded. This result follows from an exact formula for the average size of the 2-Selmer group, which in turn follows from an asymptotic formula for the number of binary quartic forms over Z with bounded invariants. We explain their proof, as well as other arithmetic applications.
