retail therapy

Housing medallions.

This is a very interesting analysis answering the question: Why is expensive housing such a lucrative investment? “Most Americans (66% of American households) are in the business of owning and leasing residential real estate. It just so happens that they […]

fun facts

This story of a $33 Billion SPAC deal has everything.

Analysis from a friend: “Terrible incentives ✔, Lack of any regulatory oversight ✔, Insiders with opportunity cash out immediately ✔, Massive payday for investment bankers ✔, “Medical reimbursements” sort of historically shady biz ✔, “Complex data analysis” and “disruption” name […]

tech, startups, internet

Half of all VCs beat the stock market

Fred Wilson highlights new data that overturns the conventional wisdom that one must invest in a top-quartile VC fund to generate good returns. He also shares his return multiples on personal fund investments since 2009. They range from 2-10x multiple […]

tech, startups, internet

The Composer manifesto

Composer intends to be like Plaid, but for managing accounts—especially investment accounts. I love it. The founder’s point about the entropy of investment accounts is spot on. Financial innovation fragments the accounts and interfaces where we manage our assets. “Asset […]