The Diff

This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week. (00:00) - What Happened in Texas (19:38) - A Word From Our Sponsors (20:39) - Technology Prosthetics (21:47) - Brutal Coopetition (22:58) - From Quotation System to Market-Maker (24:29) - GameStop Risk (25:37) - The Bull Market in Conservation

This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week. (00:00) - Three Bull Cases for Starlink (09:11) - A Word From Our Sponsors (09:49) - Distributed Business Clusters (10:27) - More on Texas (12:07) - The India Model (13:06) - Clean Shipping (13:40) - Price Discrimination

This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week. (00:00) - Why Did One Internet Subculture Spot Covid-19 So Early? (04:37) - Deep Freeze

This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week. (00:00) - An Airline IPO? In This Economy? (08:17) - A Word From Our Sponsors (08:40) - Facebook vs Bullying (09:19) - Scale and AI (10:09) - Chip Shortage Updates (11:30) - Decarbonization (12:07) - Supermicro, Redux (13:35) - The Value of Safety: A...

This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week. (00:00) - Four Refoundings (15:50) - A Word From Our Sponsors (16:03) - The Other Bitcoin Standard (17:16) - Carbon Updates (18:23) - Loyalty and Information (19:02) - The Chip Shortage (20:51) - Stimulus: How Much is Too Much?

This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week. (00:00) - Messaging Wars, Round Two (08:38) - A Word From Our Sponsors (09:16) - GameStop (12:55) - Too Much of a Good Thing (14:48) - Controlled Boom (15:39) - Decarbonizing (16:11) - Taiwan and China (16:42) - Local News

This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week. (00:00) - The Road Not Taken: Stripe, Ant, PayTM & Defi (21:26) - A Word From Our Sponsors (21:57) - Facebook's Outsourcing Moderation (22:47) - Amazon's Outsourced SEO (23:40) - Scarce and Free Resources (24:35) - Moderating Social (Pt 3) (25:28...

This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week. (00:00) - The Technocrats' Recovery (06:51) - Big Tech Sees Like a State Update (08:08) - Why Don't Car Subscriptions Work? (08:53) - Taylorism-as-a-Service (09:53) - The Semiconductor Boom (10:38) - R&D and the Genius Problem

This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week. (00:00) - Homesteading Mental Models (07:08) - A Word From Our Sponsors (07:47) - Robinhood's Plot to Make IPOs Less Exciting (09:03) - Momentum-Squared and Value-Squared (10:32) - Dollar-Weighted Returns (11:36) - Blocking Trump (13:00) - Meta-Bundl...

This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week. (00:00) - What's Happening in Logistics (09:43) - A Word From Our Sponsors (10:15) - Infohazards (11:20) - How The Grinchbots Steal Inflation (12:54) - The Hack Expands (13:59) - AR and the Physical/Digital Switch (14:56) - Antitrust and Real Interes...

This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week. (00:00) - DoNotPay: The API for IRL (06:11) - The Index (08:05) - Twitter: Subscale (09:34) - Chaos Engineering (10:12) - Space Law (11:45) - The Login Layer

This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week. (00:00) - Sharing and Owning Standards (09:08) - A Word From Our Sponsors (09:38) - More Institutional Bitcoin (10:16) - The Latest Asset to Trade at Negative Prices (10:50) - Facial Recognition (11:27) - Recursive Product Development (12:21) - Every...

This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week. (00:00) - Taiwan and Supply Chain Frenmity (10:50) - A Word From Our Sponsors (11:28) - Airline Green Zones (12:29) - Short Sellers and the Supply Chain of Information (13:49) - Housing and Pull-Forward Demand (14:57) - Facebook and Visa Arbitrage

This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week. (00:00) - Just One Thing or Every Single Thing? (10:42) - Media Disintermediation (12:16) - Amazon's Tactical PR, Con't. (12:54) - Roll Your Own Green Zone

This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week. (00:00) - Wish: E-Commerce, Fast and Slow (08:30) - Online-to-Offline (09:39) - Less Than $10 Per Month (10:22) - Movie Lots (10:48) - Taxes and Incentives (11:33) - Unfairness

This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week. (00:00) - Roblox: Tweenage Mutant MMT-ers (08:46) - The Gini Coefficient Bull Case for SaaS (09:58) - Big Banks as Common Carriers (11:10) - Yuan Bonds (12:24) - In-House Chips (13:21) - Understanding Consulting

This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week. (00:00) - What’s Gold For? (15:11) - A Word From Our Sponsors (16:00) - Bitcoin, Flows, Autochthony (17:01) - Digital Media, Distribution, Autochthony (17:43) - Leaving “Little Taipei” (18:44) - Scrap

This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week. (00:00) - Understanding Airbnb (12:42) - Measuring Eyeballs (13:29) - Property Rights (15:05) - Reputational Bug Bounties (16:08) - Running Out the Clock on Tariffs

This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week. (00:00) - How Bubbles and Megaprojects Parallelize Innovation (10:52) - Vaccine Economics and Emerging Markets' Tough Choices (11:58) - Big Tech and the Missing Middle in Emerging Asia (14:17) - The Personal, The Political, and Ant (15:08) - Form, Fu...

This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week. (00:00) - Big Tech Sees Like a State (14:34) - Pirate's Treasure, Redux (15:23) - Takedowns (16:10) - Antitrust and Laggy Beliefs (16:51) - Money, The High-Order Bit (17:44) - Perceptual Arbitrage in Crowdfunding (18:50) - Covid and the Talent Shift

This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week. (00:00) - Media Refragmentation and Funnel Capture (05:57) - Disaggregation and Reaggregation in Fundraising (06:45) - Separation of Powers (07:29) - The Mortgage IPO Boom (08:10) - Multichannel Retail (09:13) - Recursive R(t), Redux (09:52) - Case S...

This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week. (00:00) - Hardware-as-a-Service (10:08) - A Word From Our Sponsors (10:45) - The Muni Crisis (12:46) - Worker Mobility (14:03) - Supply Shocks

This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week. (00:00) - Engineering a Conglomerate (09:18) - A Word From Our Sponsors (09:50) - Pretty Bad Privacy (11:31) - Exercising the Whistleblower Option (12:13) - Who Owns Streamed Games? (13:08) - Rebooting Transit (13:45) - Palantir (14:59) - Tech Sees L...

This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week. (00:00) - The WeWork Arc (07:26) - Amazon's Third-Party Data (08:14) - The Lucas Critique in Finance (09:20) - Matching the Huawei Strategy (10:02) - Froth (10:52) - Demand and Logistics

This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week. (00:00) - How the Pandemic is Fixing Some of the Real Estate Market's Flaws (06:32) - A Word From Our Sponsors (07:11) - Measuring the World's Largest Economy (08:14) - Showrooming and Retail (09:58) - Google Continues to Disaggregate Pages (10:43) -...