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Napkin Math

Is YC the Monopoly It Thinks It Is?

The Pricing Power Flex

17 šŸ”’ Feb 10, 2022 by Evan Armstrong

Almanack

Field Guide to the Curve Wars: DeFi’s Fight for Liquidity

Curve, Convex, Llamas, Butterflies, Token Reactors, and a Big Bag of Stablecoins

143 Feb 4, 2022 by Nat Eliason

The Prediction Game

We Have a Winner

The Prediction Game Crowns its Winner

34 Feb 3, 2022 by Andre Plaut

Napkin Math

Will Tokens Replace Equity?

The Weird Future Ahead

31 šŸ”’ Jan 27, 2022 by Evan Armstrong

Means of Creation

The Web3 Renaissance: A Golden Age for Content

Like this essay and want to support us to create more like it? Consider collecting it as an NFT!In January 1996, Bill Gates published what w

47 Dec 20, 2021 by Li Jin and Katie Parrott

Napkin Math

The primary trends Iā€™m investing in next year

Inflation, web3, embedded fintech, investing in people, and the newsletter winter that is coming

101 Dec 16, 2021 by Evan Armstrong

Napkin Math

Investing on Instinct

Why the best deals are done with no data at all

47 šŸ”’ Dec 1, 2021 by Evan Armstrong

Almanack

I Was Wrong About Olympus

But I will find my way, if I can be strong

184 Oct 8, 2021 by Nat Eliason

Napkin Math

Should you invest in Wish? An S-1 Analysis

A look inside the S-1 of Wish. Included is the background of Wish, a look at their margins, how the universal postal union is changing their cost structure, how their CAC is rising and if they are viable long-term.

85 Dec 1, 2020 by Adam Keesling

Divinations

Three Shorts: Fast’s 1b valuation, McPlant’s power move, and Apple’s disruptive M1 chip

Hello! Welcome to Three Shorts, a recurring series where I unpack the strategy behind the news in as few bullet points as possible.Enjoy!Fas

55 šŸ”’ Nov 11, 2020 by Nathan Baschez

Napkin Math

The Quest for Monopoly

A history of stock market exchanges: from fragmentation to monopoly, monopoly to fragmentation and back again.

69 Aug 25, 2020 by Adam Keesling