Members
Support the work and receive the regular letters and notes behind the public website.
I write about economics, markets, politics, and power, with attention to the institutions, documents, debts, infrastructures, and conflicts that shape how people live.
The website remains the public home of the work.
Members support the project on Patreon and receive the working layer behind it: focused weekly letters, extra notes, source fragments, spoken-work notes, and early access to selected essays.
What members receive
Members receive Signal, a set of focused letters and notes on money, power, and the systems beneath public events.
The core letters follow two systems that shape the present: the price of money and the price of compute.
Each letter begins from one move in the week: a rate decision, bond auction, inflation print, currency shift, chip order, data-centre deal, cloud contract, export control, energy constraint, company result, or institutional decision.
Letter 1The Price of Money
A weekly letter on central banks, bond markets, rates, debt, currencies, inflation, and sovereign borrowing.
The Price of Money follows the institutions and markets that decide what money costs.
Each issue starts from one rate decision, bond-market move, inflation print, central-bank sentence, debt auction, or currency shift, and follows what it changes for governments, households, banks, companies, and borrowers.
Letter 2The Price of Compute
A weekly letter on the scarce inputs behind artificial intelligence: chips, data centres, electricity, cloud platforms, export controls, AI capital spending, and the companies and states controlling access to compute.
The Price of Compute follows AI where it becomes physical, financial, and political. Each issue asks where the power sits: in the chip, the grid, the cloud contract, the law, the workplace, the balance sheet, or the state.
Notes:Extra member notes
Members also receive shorter notes from the working desk.
These are looser than Notebook entries. They may begin from a paragraph in a report, a chart, a speech, a market move, a sentence in a filing, a book passage, a court decision, or a small detail that may later become a longer piece.
Some notes will stay small. Some may become Notebook entries, essays, talks, or podcast material. The point is to share more of the thinking while it is still forming.
Spoken-work and podcast notes
When I publish spoken work, members receive short notes behind the piece: what prompted it, which source or event sits underneath it, what questions remain open, and where the idea may go next.
Why join
Membership helps sustain independent writing outside the speed and sameness of the news cycle.
It supports the reading, source work, essays, notes, spoken pieces, and time needed to follow the arrangements that shape how people live: who holds power, who bears cost, who gains room to move, and who loses it.
If the public website is the archive, membership is the working layer behind it.
Selected essays and Notebook entries remain free on the website.