About the modern financial infrastructure that the world sits atop of.

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I write roughly biweekly on the intersection of tech, financial infrastructure, and systems thinking. It's free.

Recent editions of BAM

Working title (insurance)

Title insurance is grossly overpriced relative to actual risks involved. Why is that?

Guys what is wrong with ACATS

Ever transferred assets between brokerages? Impressive, terrifying machinations happened in the background. No cats were harmed.

The business of wallets

How digital wallets work, and how payment costs drive a lot of product decisions inside and around them.

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