Below the Line
Kevin LaBuzBreaking down business models and how technology is changing them. Occasional dad jokes.
| Platform |  | Pricing | Only free issues | Publishes | Weekly |
|---|---|---|---|---|---|
| Issues | 175 | Founded | 6 years ago | Last Issue | 5 months ago |
| Active | |||||
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kjlabuz.substack.comLatest Issues
#171 – Why E-Commerce Finally Looks Stable Again
Hi 👋 - Third quarter results point to an industry steadily regaining its footing, with disciplined growth, stable demand, improving profitability, and early signs that AI will influence both discovery and supply. A clear pattern runs throu...
#170 – Textile Mills & GPUs
Hi 👋 - AI is generating tons of value – but value creation isn’t the same as value capture. Warren Buffett’s 1985 textile post-mortem offers a timely lesson for today’s AI capex supercycle. As always, thanks for reading.
Buffet...
#169 – 2019 Vibes
Hi 👋 - The second quarter was e-commerce’s best in a while. Growth improved, consumers kept spending, and executives worked their rotator cuffs. Tariff worries mostly fizzled, while companies shifted from cost cutting to disciplined, ROI-p...
#168 – Tariffs, Tai Chi, and T-Shirts
Hi 👋 - From tariffs to AI to a new era of frugal growth, e-commerce companies are navigating a shifting landscape with agility. First quarter earnings show a sector that's not booming, but not breaking either. Companies continue to adjust...
#167 – Turn Every Page
Hi 👋 - Attending the Berkshire Hathaway annual meeting is part financial conference, part secular pilgrimage, and part Midwest Costco run. I’ve been meaning to go for years, but it never felt urgent. That changed with Charlie Munger’s deat...
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Former Internet equity research analyst at Deutsche Bank and strategic finance at Etsy and Indeed. Currently Head of Investor Relations & Corporate Development at 1stDibs. Based in Brooklyn.
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