What's a Ponzi Scheme? What Isn't?
Plus! Meta; ROE and CAPM; Expensive Cheap Energy
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Adding Endpoints, Chaining Standards: Trading Companies as a Model for the API Economy
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Ports and Trans-Pacific Flights are to Fiscal Policy as Swap Lines are to Monetary Policy
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What Do You Do With a Variant View?
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Longreads + Open Thread
Become a member to gain access →Ports, Bits About Money, Sneakers, Carbon, Omakase, Nietzsche
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Blimps, Bots, and the Future of Cargo
Read this article →Plus! Bitcoin's Long March: Pensions; Last Mile; Google's Laffer-Style Tax Cut; Sales
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GLG: Who Researches the Researchers?
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Gamestop Remains a Mystery
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Who Regulates Crypto, and How?
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Longreads + Open Thread
Become a member to gain access →Instant Delivery, Slack, Social Science, Nuclear, Returns, FedEx
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FedEx: Two Bets on Network Effects
Read this article →Plus! Aging Into Owning the Metaverse; Fake Reviews; Ads and Addicts; Coal; Diff Jobs
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The Business of Micro Rental
Unlock Premium to read this post →Plus! Every Business Turns Into an Ad Business; Financial Decoupling; Still Room to Scale; Pay-for-Inclusion; Amazon and Costco; Bitcoin: Made in America