Have Margins Permanently Reset Higher Post-Pandemic?
Plus! Integration, Spinoffs, and Newsletters; National Champions; Risk and Risk Management; Unwinding; Quick Flips
All posts
In chronological order
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In a Stable Career Track, Where Does the Risk Go?
Read this article →Plus! AI Lobbying; Fraud and Credit; How Markets Clear; Deglobalization in Miniature; Crypto Exchanges and Airdrops
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Longreads + Open Thread
Become a member to gain access →NFTs; AI; Trading Careers; Movies; LLMs; Supply Chains; LBJ; Expected Returns
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Are Regional Carriers a Good Leasing Business or a Bad Airline Business?
Unlock Premium to read this post →Plus! Pre-Mortem; China's Financial Reopening; Emissions Accounting; Outsourcing; Amazon Retail from A to Z
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Is AI a Candidate for an "Apocalypse Trade?"
Unlock Premium to read this post →Plus! Recruiting; Centralization and Software Failures; Salami-Slicing Amazon; Digital Real Estate; Legibility
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Heuristics for Spotting Cheating
Unlock Premium to read this post →Plus! Technology, Branding, and Distribution; Backward Compatibility; Short Selling and Short Sellers; A Non-Retail Options Boom; Meta's Priorities
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Is the Business of AI More Like Steel or VBA?
Become a member to gain access →Plus! Formalizing an Economy; Shoplifting Plane Shortage; Mastodon Metrics; The Mystery of the UAE Holding Company; Diff Jobs
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Longreads + Open Thread
Become a member to gain access →15-Minute Delivery; Media Moguls; Airline Rules; Honest Media; Words; Economics; Talent; McCarthy
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Cintas: Power-Law Results from Uniform Distribution
Unlock Premium to read this post →Plus! Bank Runs; Moderation in Moderation; Commodity Layer; No Non-Competes; Kids' Media
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Why do "Value Traps" Persist?
Unlock Premium to read this post →Plus! Why do "Value Traps" Persist?; AI and Search; Mining Inflation; Labor Inflation, Globally; DoorDash and the Reverse Supply Chain; Supply and Demand in Podcasting
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Closing Industry Frontiers
Read this article →Plus! The Slow Move to Subscriptions; TINA Trades; Geoengineering; Warning Signs; Elasticity in Electricity; Diff Jobs
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Zelle and Slicing Up the Payments Layer
Unlock Premium to read this post →Plus! Counterfeiting; Central Bank Politics; Layoff Alternatives; Liquidity; Window Dressing