Trading The Metagame

Second order effects of bailing out SVB Moral hazard leads to financial stability in the short run, instability in the long run Estimated latency arbitrage cost is 0.5 bps ($5b per year for global equities)

VC regulation coming? Yuan becoming Russia's reserve currency? First Republic $30 billion pre-backstop

Economists, ranked Anthropic releases Claude, seemingly under the radar AI online dating co-pilot

GPT-4 is live Anchorage Digital layoffs Meta lays off 13% of workforce

Signaling, signaling, signaling Brett Harrison (FTX) speaks publicly Chile travel tips

Spicy take on China Polymarket SVB line now at 67 The non-lying equilibrium

SVB saga continues -- what will happen Monday? Circle (USDC) had ~3.3 billion in SVB Big banks get bigger after SVB?

New tool to query census-level data with GPT Trilemmas in everything Products vs features in crypto

The nuances of payments vs transfers Pickleball is eating the world Why stock prices -- and not interest rates -- are largely unpredictable

Noah Smith on LLMs posing a non-threat to the end of humanity New Rob Henderson podcast Operation Warp Speed all the things