Essays

Modern Monetary Theory promised a way out of austerity. The bond market will have the final word.

A historical mapping of Fed tightening cycles, what breaks first, and what the current cycle has yet to reveal.

The difference between a startup that compounds and one that burns is whether the unit economics work from day one.

Buffett popularized the moat. In the age of software and distribution, permanent moats may be largely fiction.

Saudi Arabia pivots East and fifty years of dollar-denominated oil pricing begins to unwind.

Most people wait until ready. I decided to figure out what ready means by starting before I was, and how finance changed everything.