Notes
The long form between tradesShorter pieces from the desk — observations, theses that were retired and why, the shape of a regime transition once the prose has settled.
- MSTRThe flywheel, in reverse
- MACROPower Is the Binding Constraint on Compute
- MSTRDiscount, unwinding
- BTCShallower, so far
- BTCNot the line, the touch
- BTCDecoupled, on one side
- BTCThe prior, conditioned
- BTCPremium, compressing
More in preparation. Each note is published when it can stand on its own.