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
Jul 24, 2020 • 14min
The Bullwhip Effect
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 Bullwhip Effect
(09:11) - A Word From Our Sponsors
(09:48) - State Capacity Liquidationism
(11:24) - Hong Kong: Still a Financial Center
(11:48) - More of the Infrastructure Long Game
(12:42) - Big Tech Plays Hardball With Big Data
Jul 17, 2020 • 18min
SPACs as a Call Option on Hype
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) - SPACs as a Call Option on Hype
(10:26) - A Word From Our Sponsors
(11:04) - More on the Twitter Hack
(11:30) - Corruption, Liquor, and the China Bubble
(12:25) - Q/Q^4 != Y/Y
(13:11) - Wolf Warrior Diplomats to Puppydog Plenipotentiaries
(15:48) - More Evidence That the Next Stimulus Round Will be Slow
(16:54) - Keeping the Big City Network Effect Alive
Jul 16, 2020 • 15min
The Hack: When Crime Pays Fractions of a Penny on the Dollar
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 Hack: When Crime Pays Fractions of a Penny on the Dollar
(08:52) - Jio!
(09:21) - The Bans: Huawei Employees. Party Members? Dollars?
(11:25) - Slacktivism at the New York Times
(13:12) - Slackifying Gmail
(13:30) - Micro PE vs Value Capture
(14:44) - Airbnb: Somewhat Back
Jul 10, 2020 • 13min
The Depressing Bull Thesis for Rocket Mortgage
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 Depressing Bull Thesis for Rocket Mortgage
(07:37) - China Equities: Not 2015 Yet
(09:30) - Twitter by Subscription
(10:02) - Oil as a Currency Area
(11:10) - Decoupling
(11:56) - Recoupling?
Jul 2, 2020 • 15min
In Defense of Hiring Based on Side Projects
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) - In Defense of Hiring Based on Side Projects
(08:53) - Companies as Narrative Arcs
(09:21) - Live Data and Pandemic Stimulus
(10:52) - Trucking Bailout
(11:30) - "Did a Chinese Hack Kill Canada’s Greatest Tech Company?"
(12:01) - Facebook on Boycotts; Journalists on Facebook
(13:08) - Rebuilding Hong Kong
(14:01) - Pure-Plays and Reputational Risk
Jun 26, 2020 • 16min
Software, Full-Stack, and Sumo Startups
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) - Software, Full-Stack, and Sumo Startups
(07:29) - A Word From Our Sponsors
(08:33) - Google Paying Publishers
(09:25) - National Champions
(10:51) - Quant Crowding
(11:45) - Compare and Contrast
(12:30) - Working Capital
(13:17) - Stimulus Checks for the Dead
(14:12) - Social Credit
(14:36) - More Browser Commoditization
(15:05) - QVC Returns
Jun 24, 2020 • 15min
Free Press vs Free Expression
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) - Free Press vs Free Expression
(10:27) - The Apocalypses That Weren't
(11:20) - Bureaucracy APIs
(12:16) - Big Tech Sees Like a State
(13:01) - Facebook's Prediction Markets
(13:53) - Outflanking Carta
(14:22) - Japan and Corporate Espionage
Jun 19, 2020 • 13min
The Invention of Postwar Europe
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 Invention of Postwar Europe
(06:20) - A Word From Our Sponsors
(06:48) - Identity (pt 1)
(07:49) - Identity (pt 2)
(08:44) - Google Outsources the Ultra-Long-Tail
(09:30) - YouTube and the Influencers
(10:09) - Putin on Geopolitics
(10:38) - Tech and Externalities
(11:40) - The German Enron
Jun 16, 2020 • 13min
Communications, Commerce, and Money as the High-Order Bit
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) - Communications, Commerce, and Money as the High-Order Bit
(07:29) - Levered Pensions
(09:26) - Bankrupt Stocks: Not a Great Bet
(10:03) - Chip Wars
(11:29) - The Fame Market
(12:10) - Inflation and Missing Prices
Jun 12, 2020 • 21min
Lemonade: Solving the Market for Lemons
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) - Lemonade: Solving the Market for Lemons
(11:55) - A Word From Our Sponsors
(12:35) - Zoom Transpacific Problem
(13:29) - Drawdowns
(15:39) - Chris Cox Returns to Facebook
(16:30) - Reopening and Stay-Opening
(17:37) - Short Laws
(18:11) - Tech Astroturf
(18:59) - Partner Banks
(19:17) - Hertz's Plan to Wipe Out Slightly More Shareholders
