Oil and Water
Plus! Of GPUs and Balance Sheets; Flight Delays and Equilibria; Abstractions; Secondary Bull Markets; The Pot Tax Trade
All posts
In chronological order
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Scale is Hard to Fight
Unlock Premium to read this post →Plus! The Medium and the Message; Universal Markups; The Multi-Manager Squeeze; Growth and Credit; Strange Bedfellows
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Rumor Markets
Read this article →Plus! Diff Jobs; Legitimacy; Tariffs; AI and Complements; Tariffs and Elasticity; Economic Nationalism
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Longreads + Open Thread
Read this article →Breakneck, Working, Political Philosophy, Magic, History, Scale
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Founder as Guinea Pig
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Trench Warfare in AI Data
Unlock Premium to read this post →Plus! Returning to the Traditions of 2025; AI Security; Converts; Defense ESG; Buybacks
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When's the Next Slow Market Recovery?
Unlock Premium to read this post →Plus! Liquid Content; Omnimedia; Who's Still Getting Hired; How Much Chaos is Priced In?; Media Compatibility
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Figure and the Crypto Mullet Strategy
Read this article →Plus! Billions; Intel; Negotiating the AI Transition; Price Discrimination; Sanctions
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Longreads + Open Thread
Read this article →Effort, AI, Degens, Trads, Equitie,
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Bursting Your Own Bubble
Unlock Premium to read this post →Plus! Expressive Trading; Coopetition; The Sell-Side; Chinese Equities; Automation
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Who Actually Leads the Fortune 500 AI Rollout?
Unlock Premium to read this post →Plus! Liquid Content; Elasticity and Tariffs; Fits and Starts; A Good, Old-Fashioned Accounting Scandal; Another Missing IPO
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Via: Yes, It's a Bus
Unlock Premium to read this post →Plus! Return of the SPAC; Strategic Capital; Industry Self-Regulation; Marketplaces; Missing IPOs