What a year. Please reach out if you’d like to catch up in early 2023!
Enjoy!
(i) Capital Allocation: Results, Analysis, and Assessment
Michael Mauboussin’s latest work.
(ii) Visa: Auto Payments for Self-Custodial Wallets
The events of the last several months in crypto have raised my priors that digital assets are here to stay. Although unclear if the rails’ efforts in the space speak more highly of their businesses or the actual promise of the web3 ecosystem. Also see: Big Ideas in Tech for 2023: An a16z Omnibus.
(iii) GAO: Customer Outcomes in the Madoff Liquidation Proceeding
History rhymes!
(iv) r/SouthwestAirlines: The history of SWA destruction from within.
Reddit thread about Southwest’s decline since Herb left. Lots to think about with respect to the ULCC business model and the current environment.
(v) Chartbook #181: Finance and the polycrisis (6): Africa's debt crisis
On Ghana’s restructuring and what is going on in EM Sov debt more generally.