Epsilon Theory In Full
The soul of Epsilon Theory is our long-form content, a library of hundreds of pieces written by Ben, Rusty and others over the course of the last 5+ years. These are the print-and-take-home-for the weekend notes that made Epsilon Theory what it is today.
I want to change the language of crypto from mining to growing. I do not mean this in a metaphorical sense. I mean a proof-of-plant method for literally growing cryptocurrency tokens as a representation of the value stored in the human cultivation of plants.
The average American news consumer is exposed to far more headline text on news websites, social media apps and content aggregation sites than they are…
The Fast and Furious movies are famous for intense action and ridiculous plots. But the truth about how these stories get made has more to do with the drama happening behind the camera than in front of it.
We write a LOT about work. And the responses we get are … weird.
Once again, the most important narratives are the ones we tell ourselves.
I saw this work of art on Twitter today, referring to Dropbox management using stock buybacks to sterilize their outrageous stock-based comp, and it made…
If you’re like me, you’ve been put off from digging deeper into DeFi by the terrible signal-to-noise ratio of anything crypto-related on the interwebs. That’s why I found this DeFi primer (using Maker DAO as a specific example) by ET contributor and banking analyst Marc Rubinstein to be so fantastic.
In Epsilon Theory-speak, we use “Yay, Good-Thing!” as shorthand for a Narrative that takes a linguistic construction that we all agree is a Good Thing…
It wasn’t enough for ProPublica to do actual news reporting by publishing these tax records. The Secret IRS Files: Trove of Never-Before-Seen Records Reveal How…
The future of remote work after the pandemic ends has been a part of the zeitgeist for more than a year.
Now it IS the zeitgeist. It is also a narrative battlefield being actively conflated with a half dozen other major social and policy topics.
Yesterday, one of Softbank’s largest portfolio companies – Katerra – filed for bankruptcy. Katerra was at the heart of the relationship between Softbank and Greensill,…
What is Deadly Theatre?
It’s corporate logos for Pride Month. It’s speaking gigs for Deborah Birx. It’s the cover up for Leon Black.
#BITFD
The Deadly Theatre of corporate signaling on Pride Month continues to run rampant, with feel-good rebranding pop-ups in all the geographies where this is a…
P&C insurer Lemonade (LMND) went public last year and now has a $5 billion market cap. They’re not just a sleepy insurance company, of course.…
Honestly, I kinda like Chamath-the-CNBC-talking-head. He’s iconoclastic and smart. A little too much Ben Shapiro / college debate team-esque with the “if I talk really…
Good chart out from Barclays this morning showing the key problem for investors and financial advisors as inflation fears take root: bonds no longer provide…
Mortgages are pretty standard fare in the world of finance, but the American version is special: it grants its user a free option to refinance if they can get a cheaper rate elsewhere.
Every lender thinks they can thrive in this market. But every lender can’t be right.
As a non-American there are many things I don’t understand about America.
Most of all though, I don’t understand the most American of products: the 30-year fixed-rate fully prepayable mortgage.
Over the past four quarters, the United States has generated more wage inflation than at any point over the past 40 years.
This is not an anomaly. This is not a single quarter aberration. A wage-price inflation cycle is here.
I’m not predicting. I’m observing.
A Honda Accord cost $12,000 in 1990 and it costs $25,000 now.
A Mustang was $9,000 and now it’s $27,000.
The BLS has new car prices close to unchanged over the past 30 years.
ET contributor Brent Donnelly tries to wrap his brain around hedonic adjustments to CPI.
Bitcoin has been subverted by the neutering machine of Wall Street and the regulatory panopticon of the US Treasury Dept.
What remains is a constructed narrative that exists in service to Wall Street and Washington rather than in resistance.