Markets are Efficient, Over a Pointlessly Long and Uncertain Timeframe
Plus! Bugs, Lags, and Uncertainty; Industrial Policy; Diversification; Insiders; First-Party, Third-Party
-
Unlock Premium to read this post →
-
Colliding Clouds
Unlock Premium to read this post →Plus! Full-Stack; Market Compensation; Market Timing; Market Manipulation; ROI Cycles
-
What do LLMs Want?
Read this article →Plus! Governance; Implementation Risk; Jailbreaking; In-Kind Deals; Revalued Inputs
-
Longreads + Open Thread
Read this article →What Ilya Sees, Bond Vigilantes, LLM Writers, EUV, Posner & Douglas, Research, Poverty, Practice
-
Second-Source Duopolies
Unlock Premium to read this post →Plus! AI and Ads; Capital Structure and Distribution; Strategy; AI Ads, Redux; Moving Backwards
-
"Science Fair Project" Risk
Unlock Premium to read this post →Plus! Accounting; Accounting (Con't.); TPUs and Scale; Ads and Content in Retail; Tacit Knowledge
-
Journeymen, Hobbyists, Superstars
Read this article →Plus! Moving Targets; AI Insurance; AI Debt; Favors for Friends; Alpha
-
Longreads + Open Thread
Read this article →Trump, Conscious AI, Victorians, Galbraith, Prediction Markets, Taxes, Rates, Booms, Antitrust
-
Compensation is Contagious
Unlock Premium to read this post →Plus! Auditors; Interoperability Bad Vibes; Regulation by Friction; Ads and LLMs
-
Every Stage, Every Structure, Every Currency
Unlock Premium to read this post →Plus! NAV; Omnimedia; AI Consumption; Economic Ties; Buying Talent
-
Ads are the Eval
Unlock Premium to read this post →Plus! Price, Queues, Luck, Connections; Software as Equalizer; Cloudflare; The Anhedonic Boom; Age Restrictions
-
The Private Sector's Labor Advantage is Flexibility, not Necessarily Absolute Skill
Read this article →Plus! Not Even the Right Ballpark; Writing Like AI; The Liquidity Premium; Merchandising and Housing; The AI Graph