Bits about Money

About the modern financial infrastructure that the world sits atop of.

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I write about once a week, on the intersection of tech, financial infrastructure, and systems thinking. It's free.

Recent editions

Mortgages are a manufactured product

Mortgages are popularly thought of as loans, but to understand the industry, it's better to model them as complex manufactured products.

BNPLs: Businesses Needing Provided Legibility

BNPLs (Buy Now Pay Later) are an interesting, relatively novel payment method. Here is how they work.

The secondary market in gift cards

Gift card marketplaces largely (and surprisingly) match professional buyers and sellers of gift cards, rather than casual users. This creates an interesting ecosystem in the shadow of large retailers.

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