Facebook and Karma

Does Facebook make the world a worse place? I’ve been thinking a lot about off balance sheet liabilities lately (aka an extremely large negative externality). Essentially, this is a fancy financial way of saying karma. ...

Long $CULTS – On Peloton

Peloton makes no sense to me. The business model is boring, essentially a hardware company pretending to be SaaS. You pay $2k+ for an exercise bike, then even more to stream the classes. It’s stupid ...

Bitcoin and Trust

 I’ve noticed people claiming that Bitcoin has a fatal flaw. The flaw will prevent it from being a reserve asset and ultimately lead to its downfall. The reality though, is that this isn’t a fatal ...