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Latest Issues
Recent posts by this newsletter. Browse the email archive.
MercadoLibre, Shopee, and the Battle for Brazil
MELI & SE Underperformance
US Travel Trends: November 2025 Update
Recap: Travel demand has seesawed in 2025—firming through summer and early fall before slipping again in recent weeks. This is likely due to the government shutdown, not a structural slowdown. Beneath the surface, however, a stark divide pe...
US Travel Trends: Summertime Sadness?
Recap: Current travel data and forward-looking trends indicate a potential demand weakness this summer. Public travel companies will likely need to call out weakening trends as summer progresses if data doesn’t improve.
Authors
The writers behind this newsletter.
Investor. ~15 years in the public markets. Mostly fintech, internet, and consumer.
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