Posts in Economics

There Is Gold In The Crumbs

The response to the tax cut by a lot of politicians was laughable. A lot of them said that the $1000 bonuses were not that much. They said it wouldn’t be meaningful to people. On the flip side, they totally …

There Is One Bear Market

With the continuous record highs being set in the stock market and crypto market people might wonder where to find a bear.  Tim Knight at Slope of Hope might be the last bear left on the planet.  The rest have …

Things That Make You Go Hmmmmm

Kodak. Kodakoin. Utilizing blockchain technology, the KODAKOne platform will create an encrypted, digital ledger of rights ownership for photographers to register both new and archive work that they can then license within the platform. With KODAKCoin, participating photographers are invited to take …

Growth Next Year

The Trump tax cut became law this year.  Most of America got a tax cut.  I was glad to see the SALT subsidy go away.  If you are feeling the pain of losing the subsidy, contact your local politicians. They …

The Next Big Thing Is Hard

Economists will tell you it takes thirty years for a revolutionary new technology to infiltrate the world and really make a difference in our lives.  Over the past five to ten years, we have seen some really amazing things be …

Incentives

Most people don’t understand economics at all.  They might take a class or two but then they don’t really internalize anything.  Could be it’s the professor’s fault for not drumming home the real meaning of economics. Politicians talk about “fair”.  …

Create An Endowment Effect

Professor Richard Thaler just gave his Nobel lecture.  He is a pioneer in behavioural economics.  Often times, behavioural economics flies in the face of classical economics.  However, there are some pieces of behavioural economics that are really interesting to think …

Do You Follow Rules? Permissionless Innovation

I am a huge fan of Russ Roberts Econ Talk podcast.  I listen to them when I am commuting.  He covers a lot of ground in his podcasts.  I thought this one was very interesting.  It’s about permissionless innovation. Here …

Early Stage Financings Drop

When I read the Techcrunch article on the early stage finance drop it resonated with me. It is where we invest in as a fund, and it’s what HPA did when I co-founded it way back in 2007.  Virtually all of …

Can You Short Bitcoin?

The exchange part of Bitcoin has always been sort of the wild west to me.  No standardization.  No real regulation.  Most of the big time trading is done bilaterally.  DRW’s Cumberland Mining in Chicago is the center of the universe …

The Liquidity Crisis

There is a problem that is solvable when it comes to startups. It’s liquidity. Over the past couple of years, I have seen Fund of Fund managers like Chris Douvos, Michael Kim, and Lindel Eakman talk about this problem on …

Driverless Will Affect Everything

A while ago, Benedict Evans had a really great blogpost about driverless cars and their effects on different things that you might not think about.  He is a VC for a16z and a great follow on Twitter.  For example, a …

Why Can’t A Country Do an ICO?

Yesterday I saw where Burger King issued it’s own cryptocurrency in Russia, WhopperCoin.  It didn’t surprise me.  When I first started thinking about cryptocurrency, I hypothesized that big companies would use it for their supply chain management and to lock …

Blockchain Will Disrupt Everything

My friend Mike sent this to me.  It was a presentation at the Stigler Center over at Chicago Booth.  David Yermack is an academic at NYU.  They did a 3 day conference on blockchain, and here is a link to …

Something to Remember on the 4th

The 4th of July is an auspicious day in human history.  For the first time, a society was organized around the principle that the rights of humans came before the rights of the government, monarchy or ruler that administered them. …

The Repeal of Dodd-Frank

Yesterday, the House voted to roll back Dodd-Frank.  This is a very good thing.  Dodd-Frank was a reactionary law.  It was a reaction to the financial crisis of 2008.  If you are a person that wants to get lobbying out …

Make Capitalism Compete

My wife brought a Wall Street Journal opinion piece to my attention.  It’s about why the younger generation is rejecting capitalism.  There were plenty of disturbing things about the recent presidential election.  One of the most disturbing to me was …