Coronavirus: Second-Order Effects

Plus! Push notification ads; Apple shortages, Oyo cuts

Let’s begin by assuming that the world won’t end. I like this as a base case, because it simplifies certain things; no need to model infinite counterparty risk and wild increases in discount rates, for example.

I’ve argued before that if you think the world will end, you should buy risk assets, on the grounds that they’ve dropped due to apocalypse risk, …

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