Selection Effects Make it Surprisingly Hard to Find Good Founders in Deep Tech
Plus! Distribution Wins; IP Leaks; More Full-Stack Media; Market Segmentation; SEO and LLMs
All posts
In chronological order
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What Happens When It's Priced In?
Unlock Premium to read this post →Plus! Representative Shareholder Democracy; Two Inflations; The Long Run; Evaporating Sanctions in Action; China's Real Estate
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It's Hard to Build a Durable Business Selling Durable Goods
Become a member to gain access →Plus! Wrappers and Layoffs; The Movies; Evaporating Sanctions; Bonds; Errors in Translation; Diff Jobs
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Longreads + Open Thread
Become a member to gain access →AI Organizations, Solo Rogue Traders, Magic, Internet Culture, Twitter, Leverage, Nasdaq
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MarketAxess: Liquidity is Contagious
Unlock Premium to read this post →Plus! A Bull Market, Or Else; Mortgaging Assets, Buying Equity; Social Media Economics; Chase; Liquidity Fees and Critical Points
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Modeling the Slog
Unlock Premium to read this post →Plus! Airlines; A Gradual Metaverse; AI Keiretsu; Convergence; Meta and AI
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From Cost Advantage to Pricing Power
Unlock Premium to read this post →Plus! Theories of Private Equity; Rate Caps, Transaction Costs, and Gonzo Financial Journalism; Chips Going Green; Ownership; Rebalancing
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Was it Worth it for Facebook to Become Meta?
Become a member to gain access →Plus! Carbon Accounting; Social Mobility; To Replicate or To Replicate; Energy Transition; Financing; Diff Jobs
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Longreads + Open Thread
Become a member to gain access →Great Work, Titanium, GE, AI, Reader, CAPM, Amazon/Walmart
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Are Brick & Mortar Stores an Asset or Liability in E-Commerce?
Unlock Premium to read this post →Plus! Growth and Value Capture; Threads; Gradual Sanctions; Index Concentration; Bundling
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Nepotism and Comparative Advantage
Unlock Premium to read this post →Plus! Bundling; Full Stack Media; Japan; Threads; Superalignment
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AI Turns UGC into a PVP Zone
Become a member to gain access →Plus! Goldman; ETFs; Dispersion; Softbank; Contrarianism; Diff Jobs