Market Structure Insights

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February 21, 2024

Last week, markets were abuzz over the zero that lifted LYFT.  For those who were vacationing or living hermetically and missed it, Lyft reported financial results and inadvertently added a zero to adjusted EBITDA margin-expansion, giving machines the notion profit margins improved 5% instead of...

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February 14, 2024

I’ve got my Valentine, for which I’m grateful every day.  Whether the market finds love after yesterday’s blood remains to be seen. Back when the Romans celebrated Lupercalia, there was blood.  Romans knifed a goat to arouse the gods of fertility and then flicked bloody...

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December 6, 2023

Demand Signal would be a great name for a rock band. I heard it from Microsoft’s president Brad Smith, who is an attorney, not an engineer.  He said Microsoft’s investments in startups often benefit from Microsoft’s “demand signal.”  If we’re doing it, you should be too. Microsoft...

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