Capital-Intensity and Legibility
Plus! AI as Half an Interface; Network Effects and Boycotts; OpenAI and Structure; Strategic Reserves; Meta says Yes to Jevons
Plus! AI as Half an Interface; Network Effects and Boycotts; OpenAI and Structure; Strategic Reserves; Meta says Yes to Jevons
Plus! AI Price Discrimination; Openness; Disclosure; Arbitrage; Meta
Plus! Sweeteners; The American Difference; AI Experiments; Media Relations; Sanctions are Hard, Continued
Plus! Open Source AI; Meme Private Credit; Alpha Generators as an Asset Class; Going Hostile; Defense
Tech Right, 10 bits, Smart Screens, AI, Gambling, Memes, Soviet Magic
Plus! Agents; Capital Returns; Creator Underwriting; Crypto Plays; Airlines
Plus! Buildouts; Growth and Churn; Targeting Tweaks; DeepSeek; European Banks
Plus! Meme Coins; Fees; Platforms; Opportunistic Offers; Private Accounting Fraud
Skyscrapers, AI, Congestion Pricing, The Odyssey, History, Markets, Accounting, Loneliness, Slavery
Plus! Equity Comp, Squared; Venture Debt; 5%; Crypto Leverage; Closed-End Funds
Plus! Corporate VC; The New AI Model; The New AI Model, Continued; The Long But Volatile March; Post-IPO
Plus! Crossovers; Politics: Back on Meta; Structure; Gradual Tariffs; Property Rights