Napkin Math

Business breakdowns, by the numbers.

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Napkin Math

Crypto’s Failed Promise

The problem with crypto-as-a-nation-state

105 May 12, 2022 by Evan Armstrong

Napkin Math

The Empire Stripes Back

A $100B Bet on Two Brothers

83 🔒 May 5, 2022 by Evan Armstrong

Napkin Math

Cash—Kingmaker or Killer?

A examination of when cash can anoint a market winner

48 Apr 28, 2022 by Kyle Harrison

Napkin Math

Microsoft should buy Netflix

Netflix and Bill

35 🔒 Apr 21, 2022 by Evan Armstrong

Napkin Math

The Race for New Payment Rails

Who is building the next Visa?

29 🔒 Apr 14, 2022 by Reggie Young

Napkin Math

The Futility of Utility

A personal essay

67 🔒 Apr 8, 2022 by Evan Armstrong

Napkin Math

Twitter’s Shot at Becoming a Meme Stock

It’s Musk's world and we’re just tweeting in it

34 🔒 Apr 5, 2022 by Evan Armstrong

Napkin Math

Twitter’s Probably Screwed

The Rugged Landscape of Digital Advertising

78 🔒 Mar 30, 2022 by Evan Armstrong

Napkin Math

Planet of the Billion Dollar Bored Apes

Is Bored Ape Yacht Club a Decentralized Disney?

24 🔒 Mar 24, 2022 by Evan Armstrong

Napkin Math

BIG announcement incoming

I'm going full time on Napkin Math

36 🔒 Mar 23, 2022 by Evan Armstrong

Napkin Math

How To Get Leverage On Your Ideas

The Power Output Equation

33 Mar 10, 2022 by Evan Armstrong

Napkin Math

Joe Rogan: The Platform-Proof Creator

Spotify’s No-Win Predicament

54 🔒 Feb 25, 2022 by Evan Armstrong

Napkin Math

The Future of Netflix

When everyone’s a streamer, nobody is.

8 🔒 Feb 17, 2022 by Evan Armstrong

Napkin Math

Is YC the Monopoly It Thinks It Is?

The Pricing Power Flex

17 🔒 Feb 10, 2022 by Evan Armstrong

Napkin Math

Spotify’s Quest to Own Your Ear

A Napkin Math and Trapital Production

29 🔒 Jan 31, 2022 by Evan Armstrong

Napkin Math

Will Tokens Replace Equity?

The Weird Future Ahead

31 🔒 Jan 27, 2022 by Evan Armstrong

Napkin Math

3 Thoughts On Justworks

The newest SaaS company to hit the public markets

12 🔒 Jan 13, 2022 by Evan Armstrong

Napkin Math

What the hell is going on with Lambda School?

The complicated business of selling social good

44 🔒 Jan 6, 2022 by Evan Armstrong

Napkin Math

The primary trends I’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 🔒 Dec 1, 2021 by Evan Armstrong

Napkin Math

How Do You Compete with Free?

Notion: The Embattled Artist

48 🔒 Nov 24, 2021 by Evan Armstrong

Napkin Math

iBuy, iRent, iLose My Investors Money

The Murky Future of American Housing

15 🔒 Nov 19, 2021 by Evan Armstrong

Napkin Math

Top 12 Creator Platforms—Ranked

Who has the brawn to capture creator’s profit?

5 🔒 Nov 13, 2021 by Evan Armstrong

Napkin Math

The Creator Power Scale: A Formula to Determine if Platforms are Ripping You Off

An examination of the Twitch Hack data

16 🔒 Oct 28, 2021 by Evan Armstrong

Napkin Math

Who is Making Money in Space?

Exploring the SPAC Frontier

7 🔒 Oct 14, 2021 by Evan Armstrong and Ryan Duffy