2026
2 pieces- Apr 26, 2026essay
The Distribution Moat in the AI Era
FRAMEWORK: Filter Equity
The record labels survived the Compact Disc and almost survived Napster; what they did not survive was Apple's list of buyers. The AI era is running the same move, faster and larger, and the producers most exposed to the loss do not yet understand they are the producers. I call the position that outlasts them Filter Equity, and it is the only asset class I would underwrite for the rest of this decade.
3,610 words · 16 min read
- Apr 19, 2026dispatch
Week 16 — Shipped the Operating System, Not the Product
FRAMEWORK: The Operating-System Week
Nine commits across three repos, a 1,688-line operating doc, zero new revenue. The week I built the dashboard before wiring the data.
992 words · 5 min read
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