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Random Walk has been on a much needed vacation, this week, but republishing this one from earlier in the year, because it’s held up pretty well. the two bottlenecks of the new cycle the great industrial rotation sectors that win (and those that don’t) capital heavy rises again follow the yields workers where we need ‘em, if we can find ‘em $killed Trade$ insurance premium premium ‘hey small spender’ 👉👉👉Reminder to sign up for the Weekly Recap only, if daily emails is too much.

5 Idea Friday Wednesday there’s deflation, just not in the CPI (and other reflections on low prices that may not be low forever) open weight models may be cheaper, but that doesn’t mean they’re cheaper private credit’s other problem child China continues to Beggar It’s Neighbors, but maybe less-so (possibly) still no housing shortage, nor renovation boom, neither (and other tales from the housing market, where liquidity tells the story) 👉👉👉Reminder to sign up for the Weekly Recap only, if...

can’t stop consooming; discretionary is cooking; lower-income consumers throwing their weight around of burritos and status, a theory of and for the disgruntled 👉👉👉Reminder to sign up for the Weekly Recap only, if daily emails is too much. Find me on twitter, for more fun. 👋👋👋Random Walk has been piloting some other initiatives and now would like to hear from broader universe of you: (1) 🛎️ Schedule a time to chat with me. I want to know what would be valuable to you.

the truth about burrito prices the poor get richer if you wanted to complain about prices, burritos are a terrible choice, because the common’s man gain, is the un-common man’s pain (and it’s all according to plan) zoomer discontent of the less-upwardly mobile 👉👉👉Reminder to sign up for the Weekly Recap only, if daily emails is too much. Find me on twitter, for more fun.

the Fed God King sets aside his crown, and the acolytes are displeased in some ways, Warsh is already right—the Fed matters less than anyone thinks Fed mistakes are much worse, and nothing that Warsh said is even the dumbest thing a Fed governor has said recently if you believe in the ‘AI crowd out’ then you believe the market can do the Fed’s job a Japanese Coda 👉👉👉Reminder to sign up for the Weekly Recap only, if daily emails is too much. Find me on twitter, for more fun.

Open v. Closed, a series of strawmen has anyone actually made a well-reasoned argument about why the government shouldn’t intervene re. distillation? the unconsidered tradeoff what does Mr. Market think? all chips on chips, but the discount presides 👉👉👉Reminder to sign up for the Weekly Recap only, if daily emails is too much. Find me on twitter, for more fun.

5 Idea Friday a chart from the future no one would predict what’s next bigger, longer, more profitable healthcare domestic product fraud strikes again China distills models that don’t even exist, yet Apollo’s Slok joins team Random Walk 👉👉👉Reminder to sign up for the Weekly Recap only, if daily emails is too much. Find me on twitter, for more fun. 👋👋👋Random Walk has been piloting some other initiatives and now would like to hear from broader universe of you: (1) 🛎️ Schedule a time to chat with me.

banks can confirm the Almighty Consumer is A-OK K-Shape, we hardly knew ye’ — lower income households are on a tear spending more than wages, but how? coda, ‘housing isn’t the cycle, anymore’ 👉👉👉Reminder to sign up for the Weekly Recap only, if daily emails is too much. Find me on twitter, for more fun. 👋👋👋Random Walk has been piloting some other initiatives and now would like to hear from broader universe of you: (1) 🛎️ Schedule a time to chat with me. I want to know what would be valuable to you.

delayed onset regime change the change is coming from inside the tech software, not dead yet? discount shopping on aisle hyperscaler (maybe) 👉👉👉Reminder to sign up for the Weekly Recap only, if daily emails is too much. Find me on twitter, for more fun. 👋👋👋Random Walk has been piloting some other initiatives and now would like to hear from broader universe of you: (1) 🛎️ Schedule a time to chat with me. I want to know what would be valuable to you.

not-quite-frontier intelligence gets cheap, where the open-weights challenge ai demand is in the eye of the beholder productivity gains are there (somewhere, maybe) reallocation of tech to parts un-tech, a Jevonsish undertaking 👉👉👉Reminder to sign up for the Weekly Recap only, if daily emails is too much. Find me on twitter, for more fun. 👋👋👋Random Walk has been piloting some other initiatives and now would like to hear from broader universe of you: (1) 🛎️ Schedule a time to chat with me.