All Epsilon Theory Content
Everything we have published at Epsilon Theory since 2013, an archive of more than 1,000 evergreen notes.
A grown man made a wager. He lost. He made another wager. He lost again. End of story.
– Tony Soprano
This is the story of weak men and rapacious men.
This is the story of Bed Bath & Beyond.
This is the story of America today.
With the passing of Doyle Brunson, it’s a good day to compare poker to trading.
The City of Man always wins.
The Visigoths always sack Rome. The Vandals always sack Hippo. Augustine always dies in the siege. Bad things always happen to good people … at scale.
Here’s how we use generative AI to flip the script.
People like to throw around the phrase “gradually, then suddenly” as a witty rejoinder to suggest a dedollarization of the world is a nonlinear process that will unfold any day now. That only sounds smart when Hemingway says it.
There is no structural dollar depreciation or dedollarization story. Global usage of the USD is stable and changes in the value of the USD are cyclical.
These are the major topics and ideas we discussed during the 03/24/2023 Office Hours as well as some of the biggest takeaways. If you have something you want to add to the conversation, let us know in the comments and join us next time.
These are the major topics and ideas we discussed during the 03/17/2023 Office Hours as well as some of the biggest takeaways. If you have something you want to add to the conversation, let us know in the comments and join us next time.
I think that the Big Banks’ collective deposit of $30 billion in uninsured accounts with First Republic is the first step in solving the Dark Forest problem of the American banking system.
These are the major topics and ideas we discussed during the 03/10/2023 Office Hours as well as some of the biggest takeaways. If you have something you want to add to the conversation, let us know in the comments and join us next time.
These are the major topics and ideas we discussed during the 03/03/2023 Office Hours as well as some of the biggest takeaways. If you have something you want to add to the conversation, let us know in the comments and join us next time.
The scariest thing about large language model AIs isn’t their fundamental human-ness.
It’s the fundamental AI-ness of human intelligence.
The half-life of just about every major news story is one week.
Barring major new developments, practically nothing captures our attention beyond six.
So how do we stay focused on things that matter for much longer than that?
He Gets Us gets a lot right about our world today.
But there’s something important He Gets Us didn’t get.
These are the major topics and ideas we discussed during the 02/10/2023 Office Hours as well as some of the biggest takeaways. If you have something you want to add to the conversation, let us know in the comments and join us next time.
These are the major topics and ideas we discussed during the 02/03/2023 Office Hours as well as some of the biggest takeaways. If you have something you want to add to the conversation, let us know in the comments and join us next time.
These are the major topics and ideas we discussed during the 01/27/2023 Office Hours as well as some of the biggest takeaways. If you have something you want to add to the conversation, let us know in the comments and join us next time.
The craziest thing happens when there’s no audience, when you’re talking with other actual human beings for the right reasons … you not only have actual conversations, you not only move quickly past politics into subjects that are far more interesting and far more relevant to our actual lives than politics, but you make actual friends
These are the major topics and ideas we discussed during the 01/20/2023 Office Hours as well as some of the biggest takeaways. If you have something you want to add to the conversation, let us know in the comments and join us next time.
The modern American system of higher education – especially its most prominent public and private universities – is less our Superman than our Homelander, a smiley-faced faux superhero who does The Man’s dirty work in exchange for wealth, privilege and … our cheers.
The Story of Adequate Liquidity doesn’t exist and shift on the margin. Instead, it exists in two states: it is normal, or it is broken. Once the threshold between these states is crossed, it is very hard to tell the old story. Sometimes impossible.
There is almost no price too high to keep that story from jumping over that threshold.
These are the major topics and ideas we discussed during the 01/06/2023 Office Hours as well as some of the biggest takeaways. If you have something you want to add to the conversation, let us know in the comments and join us next time.