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

Anatomy of a credit card rewards program

Credit card rewards are mostly funded out of interchange, a fee paid by businesses to accept cards.

Financial systems take a holiday

Ever wondered about what happens when banks are closed or why some apps have operating hours? It's fascinating.

The business of check cashing

Check cashing, as a business, is a poorly understood "alternative" financial service.

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