The Financial System's PE Patch
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
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A Good Slice of a Tough Business
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The Weird Economy of Online Reputation Management
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On Currencies
Read this article →Plus! Taiwan and the US; Massaging the Numbers; First Loss; Pods; Fake Offers; Diff Jobs
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Longreads + Open Thread
Read this article →Efficiency, Diversification, Scrolls, Klein, FedEx, Regulations, Capital Gains
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Big Tech as a Fleet Rather than an Aircraft Carrier
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Where Would You Look for Signs of Broad Market Inefficiency?
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What, Exactly are we Trying to Tax?
Read this article →Plus! Correlations; Reorganization; Dating Copilots; Thematic Investing; Bid Density
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Longreads + Open Thread
Read this article →GLP-1s, Privacy, Seeing Like a State, Security, Pseudonymity, The Canon, Buybacks, RJR