Klarna and the Two Pivots of 2022
Plus! Diff Jobs; Crypto Adoption; Art Margin Calls; Liquidations; Corporate Espionage; DeepSeek
All posts
In chronological order
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Longreads + Open Thread
Read this article →Equity Nation, Hansa, Commodities, DOGE, LLMS, Recessions, AI, Rhodes, The GFC
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Deals and Hype Trades
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Central Banks and the Guidance Paradox
Unlock Premium to read this post →Plus! Crowded Trades; CoreWeave; The Bots; Accounting; Political Meme Stocks
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Will There Ever be a Company-Killing Hack?
Unlock Premium to read this post →Plus! Divided Attention; Demand; Buying Low?; The Stuff Tax; Mispriced Derivatives
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Text and Telos
Read this article →Plus! Diff Jobs; Scaling; Retail Investors; Comparative Advantage; Transaction Costs and Corporate Structure; DeepSeek Governance
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Longreads + Open Thread
Read this article →Personal Essays, Lies, Popes, GPT-4.5, Banks, Buy-and-Hold, Advanced Portfolio Management, Trade, Karp
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Two Kinds of News Business
Unlock Premium to read this post →Plus! AI as an Interface; Post-Post; Meta-Moderation; Custom Finance; Voice and Search
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The CoreWeave Triangle
Unlock Premium to read this post →Plus! Gimmicks; Correlations; Continuous Search; Re-Emerging Markets; Tax Incidence
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PE: Cycles and One-Off Events
Unlock Premium to read this post →Plus! Streaming and Marketplaces; Automating Applications; Edge AI; Tariff Day; The AI Buildout
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AI's Impact on the Written Word is Vastly Overstated
Read this article →Plus! VC IPOs; Sovereign Wealth Funds; The Return of Structured Products; LLM Moderation; Risk Management; Diff Jobs
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Longreads + Open Thread
Read this article →Hackers, Safety, EBITDA, More Hackers, Feudalism, Randomness, CEOs