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Reinventing the Financial System

By Marc Rubinstein | June 15, 2021 | 4 Comments

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.

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Why Am I Reading This Now? 04.08.24

Recent major media stories that feel to us like they’re part of a larger narrativ‌e campaign.



Why Am I Reading This Now? 03.18.24

Recent major media stories that feel to us like they’re part of a larger narrativ‌e campaign.



Why Am I Reading This Now? 03.11.24

Recent major media stories that feel to us like they’re part of a larger narrativ‌e campaign.



Why Am I Reading This Now? 03.04.24

Recent major media stories that feel to us like they’re part of a larger narrativ‌e campaign.



Why Am I Reading This Now? 02.26.24

Recent major media stories that feel to us like they’re part of a larger narrativ‌e campaign.



ZG-item-cap-black

Why Am I Reading This Now? 04.08.24

Recent major media stories that feel to us like they’re part of a larger narrativ‌e campaign.



Why Am I Reading This Now? 03.18.24

Recent major media stories that feel to us like they’re part of a larger narrativ‌e campaign.



Recent Notes

Breaking News #12: The Aggrieved Trump 2024 Narrative

By Harper Hunt | January 4, 2024

The news about the election has been heating up recently. But it unfortunately has not revolved around the process of people voting to determine the outcome. The combination of Donald Trump’s legal issues and efforts to remove him from the ballot in blue states have dominated the recent election coverage. In this episode, we tackle both of these issues and how they are playing out in narrative world. We also discuss the reporting around the recent ceremony in Iran to mark the anniversary of the death of Qasem Soleimani, why S&P 500 yearly forecasts still exist and what we can learn from Rick Rubin. We also all offer our New Year’s resolutions for 2024.

Breaking News #11: Women and Risk: A Wall Street Narrative

By Harper Hunt | December 21, 2023

It is no secret that women are underrepresented in the finance industry. That is especially true with respect to the “risk-taking” roles that people tend to associate with a career on Wall Street. While there are many reasons fort that, one of the primary ones lies in the stories we have been told in the media about women in finance. In this episode, we dig into those stories, how they influence us and how they also may offer us a potential solution to the problem. We also discuss the recent college president testimony in front of congress, Joe Biden’s tweets about inflation, the amazing story of the creator of Barbie and a lot more.

I Got You Fam

By Ben Hunt | December 19, 2023

Last week, Jay Powell told you that the Fed intends to cut interest rates next year, not because they must, but because they can.

But inflation is a bird that always comes home to roost. And when it does, we will look back at Powell’s Christmas 2023 “I got you fam” pivot as a BFD in the Great Unmooring.

The End is My Beginning

By Sir Steven Wilkinson | December 18, 2023

Sir Steven Wilkinson returns home to Lancashire to say goodbye (?) to his father. There’s no true conversation to be had, only fragments to be gleaned, which will have to be enough. Tick-tock, everyone. Tick-tock.

Cursed Knowledge #26: Singin’ in the Rain

By Harper Hunt | December 14, 2023

Movie musicals are a Hollywood staple. A spectacle of dance, emotion, and music. Proving which Hollywood stars are actors only and which are true triple threats. But it turns out a lot of our favorite classics have been keeping some pretty big secrets. Including who’s really singing.

The Changing Narrative of Women on Wall Street

By Ben Hunt | December 11, 2023

Sure, you can do it. But you shouldn’t.

This used to be our common knowledge about risk-taking men on Wall Street. Today it’s our common knowledge about women.

And we are all paying a heavy price for that.

Breaking News #10: The Story of Generative AI | Bringing the Power of Discovery Back to the People

By Harper Hunt | December 6, 2023

Generative AI has the power to become one of the most significant innovations any of us will see in our lifetimes. In fact, it may already be there. In this episode, we discuss the impact of this new technology on all of us and the world we live in,. We talk about what the technology is, how it works, the risks associated with it and its potential to shift the power of search and discovery from the hands of big tech companies to everyday people. We also discuss Ben’s first reader context on Twitter, whether the Rock could win a presidential election, the role of major universities in our society and a lost, but now found Beatles song.

Cursed Knowledge #25: Truffle Hunting

By Harper Hunt | December 1, 2023

Truffles are well known to be one of the rarest, and most expensive, delicacies available. What’s not known is the cutthroat world of truffle hunting. Where it’s not uncommon to see fraud, theft, sabotage, and even murder.

Pain, Political Vibes, and Being a Bat

By Ben Hunt | November 28, 2023

The core problem for Team Blue isn’t the candidate, it’s the team. Specifically, it’s the very online population of Team Blue journalists, academics and political operatives and their pseudo-religious, dogmatic urge to explain why aggregate economic statistics are more meaningful than lived experience.

Argentina Leaps

By Ben Hunt | November 22, 2023

The election of Javier Milei as Argentina’s president is a classic Great Unmooring event. Don’t get me wrong – I am totally rooting for the guy and I am not saying this is a Bad Thing TM. In fact, I think Milei is absolutely right to take a flamethrower to the Argentine central bank and entrenched public sector. But it is a profound unmooring all the same, not just for Argentina but for the world.

Breaking News #9: Hold My Beer

By Harper Hunt | November 22, 2023

With primary season getting into full swing, there is a lot going on in the political world. Candidates are taking things up a notch with their aggressive tweets and comments to try to stay relevant as a Trump vs. Biden election seems more likely every day. And Trump and Biden themselves seem happy to sit back and stay out of the fray while enjoying their leads in the polls. In this episode, we break down the current state of election 2024. We discuss whether the primaries matter anymore and how things are playing out in narrative world. We also cover why inflation may not have been as low as it seemed in the most recent CPI report, whether Jack’s pivot on Jared Kushner is warranted and the benefits of keeping a personal archive.

Cursed Knowledge #24: Hollywood Accounting

By Harper Hunt | November 17, 2023

We know that Hollywood is a multibillion dollar industry that shows no signs of slowing anytime soon. So then why do so many studios report that their movies failed? Especially when most of these movies are incredibly popular and by all accounts should be financially successful. Well turns out Hollywood has some tricks up their sleeves and, as The Producers taught us, under the right circumstances you can make more money with a flop than a hit.

Breaking News #8: When Narrative Doesn’t Matter | The Israeli Strategy of Total War

By Harper Hunt | November 9, 2023

People traditionally look at war as something that is fought on a battlefield. And that is certainly true. But it is also fought in the world of narrative. The stories that are told by both the combatants in a war and other parties outside the war with a vested interest in its outcome can play a major role in how it plays out. In this episode, we look at the current Israel Hamas war through a narrative lens and how that is impacting the conflict.

Cursed Knowledge #23: Mega Disasters

By Harper Hunt | November 2, 2023

Earthquakes, storms, volcanos, oh my. It seems the earth is always trying to kill us one way or another. These are dangerous powerful spectacles that can literally reshape the world. It’s understandable that we’re so fascinated by them. But why aren’t we afraid of them?

The Rick Rubin Of Advice: How To Have A Creative Second Act

By Matt Zeigler | October 30, 2023

The weirdest question I was ever asked, maybe in my entire life, was, “Can you make this sound more yellow?” The weirdest answer I’ve ever given to the weirdest question was, “Yes.” I replay that conversation in my head all of the time. There’s a perfectly good and teachable reason I was able to answer it. But to teach you that magic trick, we have to talk about Rick Rubin.

Why You Need A Personal Archive And How To Start One

By Matt Zeigler | October 27, 2023

A personal archive is a means for staying connected with the world and ourselves at the same time. It’s a simple yet life-changing way of seeing the world and your place in it.

Breaking News #7: When the Media Failed Us: The Changing Story of the Gaza Hospital Explosion

By Harper Hunt | October 26, 2023

There was an explosion in the vicinity of a hospital in Gaza. The media immediately began reporting on it. Major newspapers put out front page headlines. Television stations brought on experts to voice their opinions, But there was one major problem: much of the information that was reported as fact turned out to be wrong.

In this episode, we dig into the incident to try to understand what happened in the reporting of this story, why it happened, and what it tells us about the way the media operates in our world today.

Cursed Knowledge #22: The Narrative of Reality TV

By Harper Hunt | October 20, 2023

Reality TV is a constant and ever growing part of pop culture. Everyone has a guilty pleasure show that they watch every week. It’s created stars and scandals that have gained international attention. It’s dominated the small screen for almost 30 years and the line between tv and reality has never been thinner.

Fiat News in the Fog of War

By Rusty Guinn | October 18, 2023

The obligation of the news media when major events are unfolding should be to act with more discretion and care, not less.

They failed at this most critical task this week. Utterly.

Generative AI Images and how Microsoft Doesn’t Understand the Internet

By Desperate_Yuppie | October 13, 2023

A sample of what you’ll find on the Epsilon Theory Forum – a safe space for full-hearted people to voice their concerns and hopes and observations about today’s world without the emotional cudgel of cancellation or the emotional crutch of an echo chamber. You know … what social media should be!

And yes, it’s for paid subscribers only, which is how we keep the trolls at bay.