A New Tech-Driven Middle-Income Trap
Plus! Making a Market; Pricing and Search; Ecosystem; Lobbying and Liquidity; AI, Writers, and Hollywood
All posts
In chronological order
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The Market for Long Ideas Clears Better than the Market for Short Ideas
Unlock Premium to read this post →Plus! Secrets; Indexing and Pricing Power; Elsewhere in ETFs; Trapped Profits; Bard
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Making a Match
Read this article →Plus! Diff Jobs; Instacart: Ahead of the IPO; Movie Clips and the Piracy Equilibrium; EVs and Public Choice Theory; Banks Retrench; China's Lost Decade?
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Longreads + Open Thread
Read this article →Beauty Premium, Yahoo, Writing, Merchant Banks, Baby Boom, Guidance, Hedge Funds
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Birkenstock: A 250-year-old Growth Story
Unlock Premium to read this post →Plus! M&A and Price Signals; AI and Pricing Power; Medium Tech Structured Deals; Two Trade Systems
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North Korea's Economy: Maintaining a Positive Trade Balance by Exporting Bads and Disservices
Unlock Premium to read this post →Plus! The Basis Trade; FaZe Clan; Defensible Durables and the Right to Repair; Portable Mortgages; ARM
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The Economics of Alpha Capture
Unlock Premium to read this post →Plus! Stocks and Bonds; Controlling the Value Chain; Call Options on Skirting Rules; Cornered by Advertising Narratives; Duration Bets
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Price-First or Thesis-First Research?
Read this article →Plus! Aging Up; Housing; Virality; LLM Arms Races; The Uber of X
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Longreads + Open Thread
Read this article →OpenAI, Final Fantasy, Razors and Blades, Multistrategy, Risk
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The Nvidia Debate
Unlock Premium to read this post →Plus! Flexport; Generative Copy; Correlations; It's All Ads; Use-It-Well-Or-Lose-It
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WeWork's Bankruptcy-Without-Bankruptcy
Unlock Premium to read this post →Plus! Always a Bull Market Somewhere; Omnichannel; High-Risk Payments; The Flow of Information; Sellers and Buyers
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The Supply Chains of Bits and Atoms
Read this article →Plus! 7nm; New Yahoo; Red Teams and AI Unit Economics; Horizontal Expansion; Private Markets; Diff Jobs