In this issue:

• Understanding Affirm

• Fin Du Tech: Google

• Platform Politics

• The Amazon Third-Party Rollup Continues

• Bipartisan China Hawkishness

• Details Compound

• Opco/Propco Split

Understanding Affirm

Finance is a fascinating industry because it’s one abstraction built on another built on another. There is no such thing as value, net present or market, except in…