Capital Gains
Learn how to think about finance, economics, and corporate strategy.
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People don't just happen to hate economically efficient taxes: they hate them for the reasons they're efficient
How do two companies work together when neither has a meaningful second-best option
It isn't quite the same thing as risk, but only in an inefficient market
A low cost to copy and arbitrary price discrimination makes it a tricky quasi-commodity
Policy can't trick, but it can persuade
Outright grifters are less risky than well-meaning people
Sometimes you want a plan, sometimes a plan is a tax on responding to new information
It's about as literal as actual democracy
Prudent use of the balance sheet? Ponzi scheme? Both?
The breadth of tradeoffs as a measure of wealth
On credentialism, conflicts of interest, and commercial aviation
When does it happen, and how visible is it?
