Wow. I think the recent referendum in Britain is an example of asymmetric outcomes. In a small serendipity, in college, my senior essay was on the economic impact of the EU. (In another small serendipity, my advisor was Rick Levin, who chaired the Economics Department and later became Yale’s President. No, he didn’t remember me
Category: Economics
Five Charts that Matter
Every year, most Americans experience a pay cut. Just an hour outside of Boston, where I sometimes fly fish, I drive through very poor, rural, and white towns. I drive by trailer parks, through small towns with almost no economic activity, and into areas with high heroin addiction rates. To better understand what is happening in
Daily Fantasy Sports
I’m not a lawyer, and pieces of the law sometimes confuse me. Regarding daily fantasy sports, I think that pieces of the law are contradictory. Moreover, while all gambling involves wagering, I do not think that all wagering is gambling. Let me explain. The government spends a lot of money nixing acquisitions that yield monopolistic
Some Early-Morning Thoughts
I’m in a stretch of awaking at 3 am to 4 am many mornings. I am an early riser, but, when I have a lot going on at work, I become an even more pronounced “early to bed, early to rise” person. (We are very busy, as many companies are approaching us for funding.) Arising early is actually helpful
Why Your B2B Cost Strategy Must ‘Fit’
Your B2B cost strategy must match your B2B revenue model, or your business model won’t click. Let me explain. I wrote in the past about B2B revenue models (here) and the differences between the perpetual licensing and subscription pricing models. The summary is this. If you charge $1 for your software, a licensing model lets you get that
No Free Lunch with Venture Debt
I sometimes hear entrepreneurs extol venture debt because it is “free money.” Low interest, non-dilutive capital. In my experience, there’s no free lunch in the capital markets. That’s certainly the case with venture debt. The interest is low for a reason. Venture debt is simply a loan. There are interest and warrants attached. There are