When Competition Matters
Plus! The Varieties of Paywalls; Uber the Platform; Incentive Alignment; Inline AI; Factor Timing
All posts
In chronological order
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Pod Shops Extend Their Pseudopods
Unlock Premium to read this post →Plus! The Amazon Model, Redux; More on Moderation; Bug Bounties; AI Skeptics; Industry Structure
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Look for Boring First
Read this article →Plus! Moderation; ex-SBC; Platform Risk; Strategic Resources; Meta and AI
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Longreads + Open Thread
Read this article →Shopify, Spam, Fintech, Oil, China, Revenue, Degrowth, Books
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Putting the European Telecom Market Back Together
Unlock Premium to read this post →Plus! Press Releases; Outsourcing at the Edge; The Amazon Model; Covenant-Light; The Energy Transition in Reverse
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Cutting The Minimum Wage for Liquidity Providers
Unlock Premium to read this post →Plus! Vendor Financing; Spinoffs; IDing AI; The Fund; Equity Culture
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The Financial System's PE Patch
Unlock Premium to read this post →Plus! RTO; Good News and Bad News About AI; Retail Investors; Instagram; Supply and Demand
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Will The EU Choose to Compete?
Read this article →Plus! Unit Economics; CoreWeave and Capital Structure Arbitrage; AI and the Distribution Problem; Markets and Narratives; Convergence; Diff Jobs
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Longreads + Open Thread
Read this article →Comp, Asness, Cleo, Whistleblowers, Stagnation, EMH, The Great Depression
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The Economy is Usually Not Just the Consumer Credit Cycle
Unlock Premium to read this post →Plus! Think Step-By-Step; A Bull Market in Japan, Gradually Startup Fraud; De Minimis; Waymo
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A Good Slice of a Tough Business
Unlock Premium to read this post →Plus! Accounting Problems; Fractal Complexity; Supply and Demand; Ads and Chatbots; Public/Private Convergence
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The Weird Economy of Online Reputation Management
Unlock Premium to read this post →Plus! 0DTEs; You Can't Get That Diversified in Just One Asset Class; Clouds; Deal Flow and Value-Add; Outflows