Divinations

Get smarter about business strategy.

Oct 5, 2021

What is “Intrinsic” Value?

And does it matter?

Oct 13, 2021

How Memes Control Everything

The Economics of Belief Transmission

Nov 4, 2021

How Valuation Works

A guide to the “right way” (discounted cash flow analysis), and why “everything is dumb right now.”

Nov 12, 2021

The two biggest critiques of web3, analyzed

With a little help from Clay Christensen, strategy legend

Nov 18, 2021

Notes on ConstitutionDAO

A few quick observations

Dec 6, 2021

The Three Systems Beneath Network Effects

An exclusive excerpt from a16z general partner Andrew Chen’s new book, The Cold Start Problem

Dec 15, 2021

The Athlete as Creator

How new regulations have brought college athletes into the creator economy, big time

Dec 17, 2021

Is Axie Infinity a Ponzi Scheme?

To Axie Infinity And Beyond!

Jan 16, 2022

Eric Newcomer on 2022 Startup Trends

Eric Newcomer is one of the smartest and most plugged in newsletter writers in tech. This week he'll be joining Nathan, Dan, and Evan in the

Jan 21, 2022

Year Two

A messy slog that changed everything for me

Feb 2, 2022

The Psychology of Strategy

How to see what you aren't seeing

Feb 26, 2022

Peloton’s Next Move: Become a Platform

Opening up to external content is the only way to ensure durability, scalability, and defensibility.

Mar 11, 2022

How To Buy The Dip

Is now a great time to buy? Or a terrible one?

Mar 16, 2022

Substack’s Ideology

The point isn’t just to make money—it’s to change the systems that human attention flows through. You can’t understand Substack without understanding this.

Mar 22, 2022

Screw it, I’m investing in Peloton

I’m in at $22.51—we’ll see what happens next.

Mar 31, 2022

Recursive Publishing

A force to be reckoned with

Apr 7, 2022

Friendly Competition and Subtle Defection

My wife and I recently bought our first home and we’re expecting our first child soon, so, as you can imagine, we’ve been doing a lot of wor

Apr 15, 2022

Elon is Right: Twitter Should Open Up the Algorithm

Commoditizing tweets’ complement (the algorithm) will increase usage and rebuild trust

Apr 22, 2022

DALL·E 2 and The Origin of Vibe Shifts

By Means of Natural Selection

Apr 30, 2022

Twitter as a City-State

The Argument for Democracy in Cyberspace

May 6, 2022

Map of a Downturn

Untangling the complex causal chain that makes good times go bad

May 12, 2022

Why Sh*t is Hitting the Fan

How the Fed accidentally scuttled your Series B, simply explained

May 20, 2022

How To Time The Market (Or Not)

A Book Review of “Mastering the Market Cycle”

May 20, 2022

Mastering the Market Cycle, by Howard Marks

My chapter-by-chapter summary, with notes and reactions