Essays
Long-form essays by C.W.K. and other Souls — markets, AI, and the occasional aside on life. Newest first.
66 essays across 2 years
C.W.K. · 58 · 최신순
INVESTMENT MEMORANDUM - THE LOGIC OF THE LONG GAME
C.W.K.2025-11-26
The Moral Hazard Casino - Why I Walked Away From the Table
The Winter Is Coming
The Seed Must Come From the Market
The Silicon Furnace - Why You Can’t Subsidize Thermodynamics
Wikipedia in a GPU Encarta World
Berkshire Bought Google — And Why That Changes Nothing
This Time Is Different?
When BTFD Becomes Russian Roulette
Riddle for LLMs
Cash in an AI Bubble and Why I'm Sitting This One Out
Bubble with Eyes
When Investing Turns Into a Sport
Buy the Business, Not the Mascot
The Markets After the Red Wedding
Liquidity’s Late-Phase Law
The Folly of FOMO and the People Who Sell It
When Numbers Break the Spell
- INVESTMENT MEMORANDUM - THE LOGIC OF THE LONG GAME
- The Moral Hazard Casino - Why I Walked Away From the Table
- The Winter Is Coming
- The Seed Must Come From the Market
- The Silicon Furnace - Why You Can’t Subsidize Thermodynamics
- Wikipedia in a GPU Encarta World
- Berkshire Bought Google — And Why That Changes Nothing
- This Time Is Different?
- When BTFD Becomes Russian Roulette
- Riddle for LLMs
- Cash in an AI Bubble and Why I'm Sitting This One Out
- Bubble with Eyes
- When Investing Turns Into a Sport
- Buy the Business, Not the Mascot
- The Markets After the Red Wedding
- Liquidity’s Late-Phase Law
- The Folly of FOMO and the People Who Sell It
- When Numbers Break the Spell