Writing

Everything, newest first.

16 longer pieces and 0 shorter notes. The long ones are worth your time; the short ones are me thinking out loud.

• 9 Mar 2026 series The Flywheel Hidden Inside Coinbase's Income Statement A bottom-up look at seven business lines, one accounting rule change, and the single contract renewal that determines whether the margin story holds in 2026

  All 8 parts Hide parts

  1. 1Coinbase's Stablecoin Business Is Not What You Think It Is
  2. 2Base Is Coinbase's Best-Kept Secret — And the Numbers Are Starting to Show It
  3. 3The Deribit Bet: What Coinbase Actually Bought for $2.9 Billion
  4. 4Why Coinbase's Staking Business Is Structurally Getting Smaller
  5. 5Why Coinbase Reported a $667 Million Loss Last Quarter
  6. 6Coinbase's Invisible Business: The Developer Platform That 270 Enterprises Are Already Using
  7. 7Coinbase One Has 971,000 Subscribers — Here's What That Actually Means for the P&L
  8. 8Inside the Model: A Walk-Through of the Coinbase FY2019-FY2030 Equity Research Framework
• 18 Feb 2026 7 min The Lego-fication of Finance Why Composability Is the Most Important Word You're Not Talking About
• 10 Feb 2026 6 min Crypto's Transparency Paradox: How We Built Something We Can't Explain This piece references the crypto market crash of January-February 2026, triggered by broad risk-off sentiment.
• 4 Feb 2026 11 min TradFi Methods for Digital Assets: A DCF Framework for Crypto-Native Companies An investigation into using DCF Modeling for Crypto-native companies.
• 25 Jun 2024 3 min A Basic AI Model Implementation This is a demo for AI model development.
• 20 Mar 2024 2 min My Favourite macOS Utilities A collection of apps that help me get the most usability out of my MacBook.
• 22 Feb 2024 6 min Intro to Finance & Options (STEMS 2024) Notes from an introductory session on Options at STEMS 2024 Camp (CMI). Covers fundamental ideas of Financial Mathematics and explains the structure of options.
• 24 Sept 2023 11 min Stochastic Variational Inference (SVI) with Pyro An in-depth explanation of the Pyro tutorial adapted from Statistical Rethinking. Explores the relationship between topographic heterogeneity and GDP per capita using Bayesian inference.

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