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Overview
The Diff is a newsletter tracking inflections in finance and tech. Our goal is to track the companies and trends that will matter more over the next five years, rather than just keeping tabs on what's happening day-to-day. Finance and tech are two broad industries that both.
News
Holtec's Very Roundabout Drop-In Replacement Model
Plus! Reputational Arbitrage; Talent; Frontier; Good Data; Letters of Marque
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Toll Collectors on the Road to Abundance
Plus! Capex; Cutoffs; Supply Chains; Production Functions; Roadshows
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FP&A as the Telemetry and Counterespionage
In this issue:FP&A as the Telemetry and Counterespionage-Good financial projections won't save a broken company and don't make a huge difference for a sufficiently good business that's hard to mess up. But there are particular kinds of companies that bene
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Longreads + Open Thread
LongreadsVictor Niederhoffer died this week. Here's John Cassidy's New Yorker profile of him from 2007. Niederhoffer was a squash champion, very risk-tolerant hedge fund manager, and collector of unusual art and unusual friends. A few people have gotten i
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Convergent Evolution in the Architecture of Intelligence
Plus! Credit and Credibility; Complements; Pricing; Infrastructure as Scar Tissue; Equity Wrapped in Credit
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