The Diff
Byrne Hobart
The Diff is a newsletter exploring the technologies, companies, and trends that are making the future high-variance. Posts range from in-depth company profiles, applied financial theory, strategy breakdowns and macroeconomics.
Episodes
Mentioned books
Sep 6, 2022 • 19min
A Taxonomy of Drawdowns
This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week.
(00:00) - A Taxonomy of Drawdowns
(13:18) - Watercooler Shows
(14:26) - Smart Thermostats
(15:08) - Substitutes and Complements
(16:25) - Monetization
(17:27) - Apple Ads
Aug 29, 2022 • 17min
Turning Non-Tradables Into Tradables
This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week.
(00:00) - Turning Non-Tradables Into Tradables
(10:43) - A Word From Our Sponsors
(11:19) - Grills
(12:30) - Ads
(13:43) - Pricing
(14:59) - Drops
(15:54) - Movies
Aug 22, 2022 • 14min
Hand-Crafted Artisanal Liquidity Provision
This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week.
(00:00) - Hand-Crafted Artisanal Liquidity Provision
(09:32) - Consolidation
(10:14) - Shareholder Activism
(11:17) - Cash Burn
(12:24) - PE and Software Compete to Eat the World
(13:19) - Reinsurer of Last Resort
Aug 18, 2022 • 12min
The Economics of Noncompetes
This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week.
(00:00) - The Economics of Noncompetes
(07:27) - Always a Bull Market Somewhere
(09:03) - SPACs
(09:45) - "Most-Hated Rally"
(10:58) - Pricing
(11:26) - Amazon and Seasonality
Aug 15, 2022 • 15min
Inventing Demand
This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week.
(00:00) - Inventing Demand
(08:18) - BNPL
(09:20) - Coopetition
(10:29) - Marketplaces and Ads
(11:34) - Last Mile, Last Users
(12:19) - Value and Rates
Aug 8, 2022 • 17min
Moderna's Bets: Moonshots and Platforms
This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week.
(00:00) - Moderna's Bets: Moonshots and Platforms
(12:38) - The China AI Stack
(13:09) - Closing the Loop
(13:50) - Ads and Addiction
(15:02) - The Second-Order Costs of Inflation
(15:58) - Fraud and Transaction Costs
Aug 5, 2022 • 13min
Tegus and the Research Stack
This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week.
(00:00) - Tegus and the Research Stack
(07:38) - Apple and Ads
(08:26) - MetaBonds!
(09:12) - Capex
(10:18) - Distribution
(11:00) - Expensive Executive Assistants
Aug 1, 2022 • 35min
Understanding Jane Street
This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week.
(00:00) - Understanding Jane Street
(32:01) - Pensions
(32:50) - Customer-Facing
(33:18) - Use Cases
(33:44) - Making a Market
(34:09) - Reflexive Energy Politics
Jul 25, 2022 • 14min
Is Everything Getting Old?
This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week.
(00:00) - Is Everything Getting Old?
(10:07) - Parity
(11:36) - Work from Home
(12:03) - Surgery
(12:37) - Buffett and Energy
(13:33) - Splinternet Update
Jul 18, 2022 • 16min
Correlations go to One, in Good Ways and Bad
This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week.
(00:00) - Correlations go to One, in Good Ways and Bad
(10:32) - Network Effects, Pt. 1
(11:47) - Network Effects, Pt. 2
(12:28) - Rebalancing
(13:29) - Leapfrogging
(14:42) - Getting Funding
