A historical collection of our writing.
In my first post on insurance principles I introduced the inequality that has to hold for the industry as a whole and also for any one insurance company to stay solvent (yes you can collect interest on premiums, so consider this appropriately adjusted for timing of cash flows already). But what […] Read more (opens Continuations in a new tab)
Yesterday with the NYU Stern class that I am co-teaching with Arun Sunderarajan we focused on the fundamentals of different businesses. The class is about product market fit but looking for that doesn’t mean you can ignore the economics of the market in which you operate. If you want an example of […] Read more (opens Continuations in a new tab)
Today we lead mostly sedentary lifestyles. Once we learned how to harvest the planet’s natural resources for our survival all those thousands of years ago, we abandoned our nomadic way of life and settled down by the rivers. We learned that being close to one another makes us more productive, so we […] Read more
Today marks my 8-year anniversary of blogging. I have learned so much from it and want to thank everyone who has engaged in the comments over the years. I am particularly grateful for comments that are critical and for ones that provide links to additional material. The reason is that those help […] Read more (opens Continuations in a new tab)
The blockchain holds great promise for developing decentralized protocols and applications such as marketplaces (e.g., openbazaar), registries for digital and physical assets (e.g. mediachain) and social networks that have no value extraction by a controlling company. Everyone who wants to develop […] Read more (opens Continuations in a new tab)
Confidence in the US Congress is near an all time low according to a Gallup poll on “Confidence in Institutions.” People have stopped trusting government. And government has done a lot to deserve it. Politicians have taken huge sums of money from special interests and partisan divides have […] Read more (opens Continuations in a new tab)
