Napkin Math

Profit and power in technology, every Tuesday and Thursday.

Jun 27, 2023

Shopping for AI Shovels: The MosaicML Acquisition

Why would Databricks spend $1.3B?

Sep 19, 2024

Live Fuller, Not Bigger

You must escape the shallow joy of more

Sep 14, 2023

Defense Tech Shouldn’t Be Sexy

Weapons are a necessary evil, not a hype-y consumer product

Nov 24, 2021

How Do You Compete with Free?

Notion: The Embattled Artist

Dec 7, 2023

The Impossibility of Being Charlie

RIP to nerd Jesus

Jul 20, 2023

Of Course You Can Beat the Market

Free your mind from the Efficient Market Hypothesis

Dec 1, 2021

Investing on Instinct

Why the best deals are done with no data at all

Sep 4, 2020

The Investment Opportunity in School Bus Operators

Many schools have closed, representing a unique opportunity to buy school bus operators. With a strong moat, now might be the right time to buy.

Jul 11, 2024

Searching for Signal

When building a startup gets hard, where should we turn?

Jun 24, 2020

Why Software is More Profitable Than Content

Written by... a content company

Mar 26, 2024

How to Make Millions on Discord

A new distribution channel has opened

Oct 1, 2024

Dad Mode

The secret to personal growth isn't in self-help books or ayahuasca trips. It's in a $1.99 pregnancy test from Target.

Nov 16, 2023

COGS: How I Bankrupted MoviePass

An intuitive explainer for how to lose money and win anyway

Mar 10, 2022

How To Get Leverage On Your Ideas

The Power Output Equation

Jul 18, 2024

A New Book of the Startup Bible

It’s the rare business book that you should actually read

Dec 8, 2022

The Primary Trends I’m Investing In Next Year

China, boring AI, vertical SaaS, and Apple's power

Apr 13, 2021

Announcing Napkin Math Fiscal Year 2021

After a short break, Napkin Math returns with a new writer

Jul 9, 2024

Paramount’s Dilemma: Content Isn’t King—Distribution Is

Half a century removed from its glory days, the Hollywood giant has a new rescue plan

Apr 16, 2024

Distribution Is King

What video games can teach us about building billion-dollar companies

Aug 24, 2023

A TikTok Competitor Is About to IPO—And It’s Deeply Suspicious

Triller's S1 raises questions about its numbers

Sep 28, 2023

The Double Bind Theory—Or Why Sensationalism (Unfortunately) Works

If you want to win, you gotta spike

Jul 16, 2021

How Free to Play Video Games are Forced to Make Addicts

A Case Study on Market Structures and Harm

Jan 6, 2022

What the hell is going on with Lambda School?

The complicated business of selling social good

Jul 23, 2020

Want to Become a Unicorn? Buy it, Don’t Build it

How Amazon Marketplace works, how Thrasio built a unicorn, the platform risk associated with the strategy, and regulation concerns.