The Diff | Byrne Hobart | Substack

Regulatory Arbitrage, Mean Reversion, Replication, Bees, Specialization, Snap

New Top Community

Plus! Metaverse; No New Normal for Supply Chains; The Top-Heavy Market; "Uninvestable"

May 20

Plus! Who's Hit by Inflation?; Slow Return to the Office; Stock-Based Comp; Cat-and-Mouse; Scale

May 19

Plus! Ads Everywhere; JetBlue Goes Hostile; Institutional Constraints; Family Offices; The Long March Continues

and

May 17

Plus! Diff Jobs, Netflix's Explore/Exploit Strategy; EVs and Platforms; Third-Party Sellers; An Entrepreneurial Country

May 16

Housing, Chips, Books, Yandex, Hedge Funds, Bonds

May 14

Plus! Unstablecoins; Oil and Gas; Transitory at Last (At Least a Bit); Glorious Food; Meanwhile, in China

May 13

Plus! Indexing; High-Yield Spreads; Search, Pt. 1; Search, Pt. 2; Distribution

May 12

Recommendations View all 23

Bonnie Kavoussi

Bonnie Kavoussi

Behind the Iron Curtain

Sergey Aleksashenko

Sunday's Idea Brunch

Edwin Dorsey

Moontower Weekly

Kris Abdelmessih

Moses Sternstein

The Diff

About Archive Authors Recommendations

#nojs-banner { position: fixed; bottom: 0; left: 0; padding: 16px 16px 16px 32px; width: 100%; box-sizing: border-box; background: red; color: white; font-family: -apple-system, "Segoe UI", Roboto, Helvetica, Arial, sans-serif, "Apple Color Emoji", "Segoe UI Emoji", "Segoe UI Symbol"; font-size: 13px; line-height: 13px; } #nojs-banner a { color: inherit; text-decoration: underline; } This site requires JavaScript to run correctly. Please turn on JavaScript or unblock scripts