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Back of the Envelope

Alana

Thoughts on (mostly) tech and markets.

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Substack
PricingOnly free issuesPublishesMonthly
Issues64Founded5 years agoLast Issue12 days ago
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Latest Issues

Second-Order Effects of Publicly Traded Venture Capital Vehicles

In One Up on Wall Street, renowned portfolio manager Peter Lynch famously advised the everyday investor to “invest in what they know.” Lynch advocated for the idea that the common man could make a killing by simply paying attention to the p...

12 days ago

On My Mind: Waymos Everywhere

Photo of the week: Golden hour in San Francisco

On My Mind

Waymo’s Everywhere

I spent most of last week in San Francisco. It’s the third time I’ve been in the past 6 months, and every time new things strike me about the city. Last tri...

22 days ago
1
1

On My Mind: Experts in LLM Backrooms

Photo of the week: the first signs of Spring in NYC

On My Mind

Finding experts in LLM backrooms.

I’ve had an increasing number of conversations with friends about the ways in which we use AI. It seems like there’s been a dramatic inc...

2 months ago

On My Mind: Costs of Replication

On My Mind

Costs of replication.

When looking at a business, one of my favorite things to think about are its costs of replication – that is, how hard would it be for another entity to reproduce the product being offered? That new ent...

2 months ago
2

On My Mind: Startups that Look Like Funds

On My Mind

More startups might start to look like funds.

Innovation around markets tends to happen along multiple axes: expanded access, issuance of new (types of) assets, and the creation of novel ways to participate. These factors fr...

2 months ago
3

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