Plus! Sticky Wage Growth; The Coal Boom; Equity and Collateral; Building an Apple Car vs Appleifying a Built Car; Diff Jobs | Continue reading
Plus! Reactive Strategy; Working it Out; Standardizing the Metaverse; Probability; When Payments Work; Introducing Diff Jobs | Continue reading
Plus! Developing Vietnam; Liquidity, Discount Rates, and Theft; Shortages; Pigs and OPEC; Statistical Privacy | Continue reading
Plus! Another Gulf Carrier?; Air Buyout; The AI Layer; Didi and Information Asymmetry; Strategic SPACs | Continue reading
Plus! "Real Men Have Fabs"; Rollups; Platform Control; Outperformance; Chips and China; Double Zero | Continue reading
Plus! The Balance Sheet-Constrained Bank; The Global Kuznets Curve in Action; Net Zero; Real-Time; Aviations Big Two (Plus One) | Continue reading
On the other hand... | Continue reading
Plus! Negative-Marginal-Cost Billboards; Spillovers; Piecemeal Privatization; Financial Protectionism | Continue reading
Plus! Online-to-Offline; Consolidation; Unintended Consequences; Supply Chains as Banking Systems; International Software Nationalism | Continue reading
Plus! Hulu's Regulatory Arbitrage; Post-Archegos; Patents; Emissions: a Global Problem | Continue reading
Plus! Valuementum; Quants and Lumber; Cheap Hacks; Tax Adjustment | Continue reading
Plus! Sanctions, Cautiously; Adtech Always Adds Layers; Unfundable Mines; Less Marginal Business | Continue reading
Plus! Travel Recovery; Targeted Restrictions; Another Retail Ad Product; Semi-Public | Continue reading
Plus! The Great Inflation; Two-Way API Businesses; Zoom and Cities; From ETrade to eToro; Hardware-as-a-Service | Continue reading
Plus! Limits to Hardware-as-a-Service; Shareholder Activism in Japan; Flipping (pt 1); Flipping (pt 2); Better Disclosure | Continue reading
Plus! Security; Different Abstractions; Facebook Futurism; SPAC Apathy | Continue reading
Plus! Price Signals; Texas Energy's Banking Crisis; Greensill's Arbitrage(s); Which Long Run?; The Supply-Side/Demand-Side Seesaw | Continue reading
Plus! Technology Prosthetics; Brutal Coopetition; From Quotation System to Market-Maker; GameStop Risk; The Bull Market in Conservation | Continue reading
Plus! Distributed Business Clusters; More on Texas; The India Model; Clean Shipping; Price Discrimination | Continue reading
Plus! Facebook's Outsourcing Moderation; Amazon's Outsourced SEO; Scarce and Free Resources; Moderating Social (Pt. 3); Business Travel and Veblen; Intel's Semi-Hack | Continue reading
Plus! Media Disintermediation; Amazon’s Tactical PR, Con’t.; Roll Your Own Green Zone | Continue reading
Plus! The Gini Coefficient Bull Case for SaaS; Big Banks as Common Carriers; Yuan Bonds; In-House Chips; Understanding Consulting | Continue reading
Plus! Bitcoin, Flows, Autochthony; Digital Media, Distribution, Autochthony; Leaving “Little Taipei”; Scrap | Continue reading
Plus! Measuring Eyeballs; Property Rights; Reputational Bug Bounties; Running Out the Clock on Tariffs | Continue reading
Plus! Vaccine Economics and Emerging Markets; Big Tech and the Missing Middle; The Personal, The Political, and Ant; Form, Function, and Ads; More... | Continue reading
Plus! Pirate’s Treasure, Redux; Takedowns; Antitrust and Laggy Beliefs; Money, The High-Order Bit; More... | Continue reading
Plus! The Muni Crisis, Worker Mobility, Supply Shocks | Continue reading
Plus! Pretty Bad Privacy; Exercising the Whistleblower Option; Who Owns Streamed Games; Rebooting Transit; Rationalists and Thymos; More... | Continue reading
Plus! Yelp’s Crypto-Coinbase Moment; Life at a Hypergrowth Startup; Microsoft’s App Principles; Square and Bitcoin; More... | Continue reading
Plus! Office Politics, Redux; Vaccine as Perk; Who Owns User Data?; Tech Sees Like a State, Test-and-Trace Edition;The Negotiate-With-Hackers Hack; More... | Continue reading
Plus! Google: Benefits and Retention; Tail Risk on Trial; Policy Homogeneity; Procurement; Density Redistribution; Crisis Hormesis; The Other Derivatives Narrative | Continue reading
Plus! Belt & Road & Vial; CCP and SMBs; Hire Fast, Transfer Fast; Life Imitates Science Fiction; More... | Continue reading
Plus! France’s New Industrial Policy, China Exit Subsidies, China Chips, Basic Income With Right-Wing Populist Characteristics, Facebook’s Election Redistribution, Antitrust Timing | Continue reading
Plus! Fed Maximalism, CFOs, TikTok, IPOs vs Direct Listings, Death and Base Rates, Rapid testing, Wuhan, Politics in a One-Party State | Continue reading
Plus! Wirecard, Yuan, Housing, Financial Education for Future 1%ers, Alphabet Insurance | Continue reading
Plus! Wirecard, Yuan, Housing, Financial Education for Future 1%ers, Alphabet Insurance | Continue reading
Plus! Subscriber Call, PPE Nationalism, Vaccine Internationalism, Macro Renaissance, Technology-Governance Fit, more... | Continue reading
Plus! Earnings, Seeing For the State, Gerontocracy, Kids' YouTube M&A, and much, much more... | Continue reading
Plus! State Capacity Liquidationism, Hong Kong, Infrastructure, Big Tech | Continue reading
Plus! More on the Twitter Hack; Corruption, Liquor, and the China Bubble; Q/Q vs Y/Y; more... | Continue reading
Plus! V-Shaped Recovery, Tech Sees Like a State in Indonesia, Clever Currency Games, more... | Continue reading
Plus! Narrative Arcs, Live Data, Bailouts, Hacks, Boycotts, Hong Kong, More... | Continue reading
Plus! Google Paying Publishers, Quant Crowding, Compare and Contrast, Stimulus for the Dead, Social Credit, more... | Continue reading
Plus! Apocalypses Averted, Bureaucracy APIs, Seeing Like a State, Prediction Markets, Carta, more... | Continue reading
Plus! Big Tech M&A, European Vacations, Reverse Hong Kong, Microsoft-on-Microsoft Disruption, and more... | Continue reading
Plus! Multilateralism, Unilatéralisme, Wanamaker Updated, Domestic Fabs, and More... | Continue reading
Plus! Fast Grants, (literal) Bandwidth, Electricity, (metaphorical) Bandwidth, Paradigm Shifts, More... | Continue reading