The hottest Investment Substack posts right now

And their main takeaways
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Calling for a purge. Is "collective leadership" making a come back? Publicity right. The "death bump" & Flecktarn.

Chartbook • 329 implied HN points • 24 Nov 25
💰 Finance Investment
  1. Some people think that economies need downturns to stay healthy. They believe these 'purges' can help reset the market.
  2. Collective leadership might be becoming more popular again. This kind of leadership could mean working together to make decisions.
  3. The world economy has mostly avoided a big recession for a long time, especially since the COVID-19 lockdowns. That's unusual and raises questions about future economic stability.

LVMH's Stellar Returns

Compounding Quality • 1415 implied HN points • 26 Jan 24
💰 Finance Investment
  1. LVMH reported great financial results in 2023, showing growth in revenue and profits.
  2. The company's global presence with a diverse portfolio of luxury brands contributes to its success.
  3. LVMH proposed a dividend of €13 per share, showcasing positive financial performance.

Demystifying Venture Capital: Realities and Challenges of the sector

The VC Corner • 299 implied HN points • 22 Jun 24
💼 Business Investment
  1. The venture capital market is very crowded, making it hard to find unique investment opportunities. To succeed, it's crucial to stand out from the competition.
  2. Many venture capitalists have never built a company themselves, which may limit their ability to help startups effectively. Practical experience is important in providing useful guidance.
  3. Successful founders are good at raising money quickly so they can spend more time on their products. They focus on building strong connections with the right investors to make fundraising easier.

33 predictions for 2026 in AI: consumer, enterprise, AI capex, and more

Enterprise AI Trends • 168 implied HN points • 27 Dec 25
🕹 Technology Investment
  1. AI progress will accelerate in 2026, causing fast, widespread change that can create big winners and losers.
  2. AI agents will become mainstream across consumer and enterprise use cases, with coding agents able to autonomously complete multi-hour tasks and driving strong enterprise adoption and FOMO.
  3. Intense competition, cost optimization, and open-source model advances will shape which platforms and startups win, making AI capex and strategic investment decisions essential.
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District One on Blast Explained: How to Win

DeFi Education • 739 implied HN points • 29 Mar 24
🔮 Crypto Investment
  1. DistrictOne is a new platform that aims to attract users from popular crypto chat platforms like Discord. Joining is cheap, costing around $20, and you can access various chat rooms called Spaces.
  2. By participating in DistrictOne, you can earn rewards like OLE tokens and other bonuses. Even minimal daily interactions can lead to returns that may double or triple your initial investment.
  3. To maximize your experience, focus on joining active chat rooms and engage frequently. Buying shares and using boosts can help increase your earnings from the platform.

How to Invest in Space Tech: The Case of Rocket Lab

Space Ambition • 179 implied HN points • 12 Jul 24
💼 Business Investment
  1. Rocket Lab focuses on launching small payloads which is a growing need in the satellite market. This makes their service essential for companies needing timely deliveries.
  2. The company's innovative technology, such as 3D-printed engines, allows them to offer flexible launch options. This gives customers more control over their launch schedules.
  3. Despite some competition, Rocket Lab has a good chance to become a leader in its niche. Their strong team and existing client commitments make them an appealing investment.

A Billion-Dollar Fraud In Plain Sight

Where's Your Ed At • 10237 implied HN points • 01 Nov 23
💰 Finance Investment
  1. Gemini's
  2. Earn
  3. program misled customers into investing in risky lender Genesis Capital.
  4. The NY Attorney General filed a significant fraud suit against Gemini, Genesis, and Digital Currency Group for misleading customers and covering up losses.
  5. The Winklevoss twins actively deceived customers, putting billions of dollars into an unstable lender and reaping profits while customers faced losses.

"This Is a Hell of a Statement I'm About to Make—But He Superseded Miles"

The Honest Broker • 7846 implied HN points • 09 Feb 24
🎶 Music Investment
  1. Spotify is facing challenges with fake artists, playlists, and financial losses, raising concerns about the music streaming service's business model.
  2. The shift from macroculture to microculture is evident in the media industry, with traditional legacy outlets experiencing layoffs while alternative platforms like Substack thrive.
  3. There is a trend towards investment firms buying song catalogs, the decline of live music reviews in mainstream media, and interest in the transformative power of sound highlighted through the work of Hans Jenny in 'Cymatics'.

The current high value of residential investment

Erdmann Housing Tracker • 210 implied HN points • 08 Dec 25
💼 Business Investment
  1. A long shortfall in residential construction since the mid-2000s has left roughly a 15 million‑home gap and driven net residential investment down from a sustainable ~2% of GDP to about 0.6%, creating a cumulative $7 trillion deficit.
  2. That shortage has inflated land rents across many cities, acting as a regressive transfer from renters and new buyers to existing owners and raising nominal GDP and inflation without raising real GDP.
  3. Building many more homes—especially rental and 'missing middle' units bought by investors—would replace land rents with structure rents, lower housing costs over time, and shift wealth away from landowners toward renters and new homeowners.

Letting Winners Run

TSOH Investment Research Service • 1081 implied HN points • 15 Jan 24
💰 Finance Investment
  1. Successful investors often have a couple of big winners in their portfolios
  2. Letting winners run is a common trait among great investors
  3. Embracing a 'let your winners run' strategy, like the Coffee Can Portfolio approach, can lead to significant long-term gains

Principles of Economics Made Clear (Part 3)

Photon-Lines Substack • 278 implied HN points • 20 Nov 25
💰 Finance Investment
  1. Information often isn't shared equally among people, which can lead to problems like moral hazards, where someone takes more risks because they are not fully responsible for the outcome, and adverse selection, where buyers end up with worse options because they can't tell the good from the bad.
  2. The economy's total production and income is measured by GDP, but while it's a useful tool to see how well a nation is doing, it doesn't capture things like happiness or well-being, which are also important.
  3. Inflation occurs when too much money is printed without a corresponding increase in goods, making each dollar less valuable, and this can create real hardships, like eroding savings and distorting economic decisions.

Unlocking the Open Innovation Toolbox

The VC Corner • 299 implied HN points • 31 May 24
💼 Business Investment
  1. Open innovation helps companies grow by using ideas and skills from both inside and outside their organization. This makes them quicker and more competitive in their market.
  2. It's important for corporates, startups, and investors to connect with others in the open innovation network. These connections can lead to funding, mentorship, and new business opportunities.
  3. There are many service providers that support open innovation, like innovation centers and corporate hubs. These places help businesses develop new ideas and technologies.

How to mine without mining

Irina Slav on energy • 1002 implied HN points • 24 Jan 24
💼 Business Investment
  1. Copper prices are forecasted to jump by 75% in 2025 due to energy transition and decline in the U.S. dollar.
  2. There are concerns about copper shortages, but traders often don't consider long-term impacts when trading commodities.
  3. Mining companies are facing challenges from resource nationalism and must find ways to mine sustainably to support the global transition to clean energy.

DeFi Education's 2024 Outlook

DeFi Education • 1139 implied HN points • 04 Jan 24
🔮 Crypto Investment
  1. The predictions for 2024 will have many possibilities, so they are mostly fun to think about. It's important to keep in mind that things can change.
  2. Past expectations have been shared in earlier posts, but they will be updated again for clarity. It’s good to stay informed on the latest thoughts.
  3. This discussion is meant for paid subscribers, indicating more in-depth and exclusive content is available for those who support the platform. It shows a commitment to providing quality information.

Some big news about The Mill

The Mill • 1808 implied HN points • 30 Aug 23
💼 Business Investment
  1. The Mill has successfully raised a total of £350,000 in funding from supporters to hire journalists around the country.
  2. The funding will be used for expanding the company and hiring new staff members in different cities.
  3. The success of The Mill's funding round is attributed to the support and belief of paying members and prominent figures in the media industry.

How the Product Bubble Burst

Cold Water • 20 HN points • 10 Sep 24
💼 Business Investment
  1. The Product Management bubble is bursting because the real economy and asset economy are becoming more disconnected. Investors were putting money into tech stories that weren't delivering real value.
  2. After years of inflated asset prices, investors now require proof of value rather than just potential. This shift is leading to a tougher environment for tech and startups.
  3. The rise of interest rates means tech companies can no longer just rely on good narratives without tangible results. Many jobs in the tech sector are at risk because of this change.

The Bear Cave #286

The Bear Cave • 653 implied HN points • 10 Aug 25
💰 Finance Investment
  1. Recent reports have raised serious concerns about companies like Marex Group and Collective Mining, suggesting they might be involved in fraud or mismanagement.
  2. A number of high-level executives, including CFOs, have recently resigned from several companies, which could indicate instability or deeper issues within those organizations.
  3. There is increasing scrutiny on U.S.-listed Chinese companies for potential fraud, and a new site has been launched to expose these stock promotion schemes.

How to get funding from deluded, self-congratulatory investors

Penelope Trunk's Substack • 419 implied HN points • 21 Apr 24
💼 Business Investment
  1. Having a male co-founder can improve a female founder's odds of raising funding due to biases in the investment industry.
  2. Focusing on showcasing a reckless passion and working long hours can help female founders combat gender biases when pitching to investors.
  3. Building a network of male connections can be essential for female founders in navigating the challenges of the venture capital landscape.

Economics Roundup #5

Don't Worry About the Vase • 1836 implied HN points • 25 Feb 25
💰 Finance Investment
  1. Many people believe that average tax rates and structures are unfair or ineffective. This could mean that policies need to evolve to better meet people's needs without creating high penalties for earning more.
  2. Trade barriers impact economic growth negatively, as they create higher costs in trade and limit opportunity for development across regions, both domestically and internationally.
  3. Access to credit can significantly influence people's financial wellbeing. If restrictions are placed on credit availability, it can harm those who are already struggling financially.

Measurement Army

Doomberg • 5751 implied HN points • 25 Feb 24
💰 Finance Investment
  1. Modern economic systems struggle to account for environmental costs, leading to government interventions and frustrations among capitalists and landowners.
  2. The global focus on carbon emissions has led to the rise of carbon counting professionals, but many argue their value is limited.
  3. A proposal to create Natural Asset Companies (NACs) faced controversy when seeking to put a market price on nature, highlighting potential unintended consequences and opposition.

Beijing's Bubble Bursts Part 1

Diane Francis • 779 implied HN points • 01 Feb 24
💰 Finance Investment
  1. Taiwan's recent election saw a victory for William Lai, which was not welcomed by Beijing and highlighted tensions between the two regions.
  2. China's stock exchanges have dropped significantly, with mainland markets falling by 6-7% and Hong Kong by 12%, signaling economic struggles.
  3. The financial issues with Evergrande Group, a major property developer, have led to a court-ordered liquidation, exposing the dangers of China's real estate bubble.

♾ Meta: The Zuck 'Playbook'

How They Make Money • 727 implied HN points • 09 Feb 24
💼 Business Investment
  1. Meta (META) reported strong Q4 FY23 performance with a 5X return from November 2022 lows, focusing on Metaverse investments and cash returns to shareholders.
  2. Key points from Meta's 'Playbook' include massive compute investment, open-source strategy, future-focused research on AI, data utilization, and an experimentation culture.
  3. In Q4 FY23, Meta saw growth in user metrics and revenue, with an increase in average revenue per user, surpassing competitors like Snap and Pinterest in ARPU.

talking sense on housing affordability

bad cattitude • 203 implied HN points • 14 Nov 25
💰 Finance Investment
  1. Housing prices have increased recently, but they were quite affordable before 2021. It's important to understand this context when discussing affordability.
  2. Interest rates play a big role in housing costs, and rising rates can make homes much more expensive over time.
  3. To truly improve housing affordability, we need to increase the supply of homes and make construction easier, rather than just adding subsidies.

The Crucial Role of Timing in Startup Success ⌛

The VC Corner • 279 implied HN points • 17 May 24
💼 Business Investment
  1. Timing is really important for startup success. Investors often say it's a key reason startups succeed or fail.
  2. You should connect timing drivers to your business model. If your timing advantage doesn't improve your model, it might lead to wasting resources.
  3. Market size can change with timing. It's not just about current numbers, but understanding the shifts that can open new market opportunities.

Sustainability by any other name

Irina Slav on energy • 864 implied HN points • 08 Jan 24
💰 Finance Investment
  1. French government banning oil and gas investments in certain sustainable funds may set a precedent for future regulations.
  2. The rigorous certification process for ESG labels includes evaluating impact indicators like CO2 emissions and renewable energy output.
  3. Investors may face challenges if funds in different countries have conflicting preferences for including oil and gas stocks in ESG portfolios.

a16z Raises$7.2bn💵, Optimal VC Portfolio Construction🧮, AI Index🤖

The VC Corner • 359 implied HN points • 21 Apr 24
💼 Business Investment
  1. a16z raised $7.2 billion, showing strong interest in venture capital. This means more funding for startups and innovation.
  2. There's a focus on optimal portfolio construction for venture capitalists. This helps investors choose the best mix of companies to support.
  3. An AI Index is being discussed, which could track the progress and impact of artificial intelligence technologies. This will help keep everyone informed about AI trends.

Will our trains always be a joke?

The Mill • 1356 implied HN points • 07 Oct 23
🌍 World Politics Investment
  1. Manchester's rail network faces chronic congestion, affecting punctuality and performance.
  2. Past infrastructure projects like the Ordsall Chord have not effectively relieved congestion in the rail network.
  3. Uncertainty looms over future rail projects like HS2, raising doubts about substantial improvements.

How we could return to the productivity growth of the 1990s

Noahpinion • 4705 implied HN points • 18 Mar 24
💼 Business Investment
  1. Productivity growth is crucial for controlling inflation, maintaining a stable economy, and improving living standards.
  2. To boost productivity growth, a combination of macroeconomic factors like full employment, investment incentives, and stable supply-side conditions is essential.
  3. Three key factors that fostered productivity growth in the 1990s were full employment, high fixed investment, and stable supply with low inflation; replicating these conditions today would require strategic policy interventions.

The Latest Media Death Is Somehow Even Darker Than Usual

Discourse Blog • 668 implied HN points • 01 Feb 24
📰 News Investment
  1. The Messenger, a media company, shut down abruptly after burning through a large investment and employing 300 journalists with no severance.
  2. The way The Messenger handled layoffs was exceptionally cruel and poorly managed, even by industry standards.
  3. The closure of The Messenger is an example of how some companies fail to treat their employees with decency during layoffs.

Your 10 Favorite Stocks

Compounding Quality • 746 implied HN points • 11 Jan 24
💰 Finance Investment
  1. The Wisdom of Crowds can lead to remarkably accurate predictions.
  2. Learning from others and collaborating can result in more knowledge and insights.
  3. Choosing stocks based on sound investment rationale and data can lead to successful investments.

WeWork and the temporary end of history

Trevor Klee’s Newsletter • 597 implied HN points • 20 Jul 25
💼 Business Investment
  1. The idea of 'the end of history' might have happened locally around 2010 in America, where everything felt settled, but it really restarted with COVID-19 in 2020. It showed that the future can change quickly.
  2. WeWork's rise and fall highlights how businesses can lose track of financial discipline, particularly when money is being spent on excessive perks and rapid expansion. This can lead to a dramatic failure, even for perceived successful companies.
  3. During the 2010s, many people believed everything would just keep getting better and more convenient, but recent events revealed new challenges. Now, we have to rethink what really matters and build a future that addresses more pressing problems.

The business of AI in 2026

Generating Conversation • 70 implied HN points • 08 Jan 26
💼 Business Investment
  1. Big investments in data centers and GPUs are likely to pay off as inference gets cheaper and more AI applications become economical, so infrastructure buildout is a bullish trend.
  2. Large companies will keep acquiring startups and doing acqui‑hires, and those acqui‑hires can harm the startup ecosystem and spook talent unless policy or enforcement changes.
  3. Frontier labs will move up into higher‑margin applications, so startups must differentiate on orchestration, workflows, and solving harder domains like healthcare, security, and SRE where adoption is slower but more defensible.

Secular vs Cyclical: Why it’s hard to tell in real time, and what the EV write-down wave reveals

Gad’s Newsletter • 20 implied HN points • 16 Feb 26
💼 Business Investment
  1. It’s very difficult to tell in real time if a change is secular or cyclical because data are noisy, trend-cycle methods are model-dependent, and endpoint uncertainty makes conclusions fragile.
  2. The EV episode shows the direction is likely secular (battery costs and adoption tend to rise) but the speed is cyclical and policy-sensitive, and treating near-term pace as linear led to huge write-downs and competitive losses.
  3. The practical fix is disciplined triangulation and decision design: separate direction from speed, check cross-sections and policy regimes, treat impairments as stress tests, and prefer staged, flexible investments that preserve optionality.

AMD 2025 Q2 Financials

More Than Moore • 513 implied HN points • 06 Aug 25
💼 Business Investment
  1. AMD's revenue for Q2 2025 reached $7.69 billion, a 32% increase from the previous year. Despite this growth, challenges in the AI chip market impacted their profits significantly.
  2. AMD's Data Center business is growing quickly, especially with new AI processors like the MI350 series. However, the delays with the MI308 inventory have caused temporary financial setbacks.
  3. In the Client and Gaming sector, AMD's sales surged by 69% compared to last year, driven by high demand for their latest CPUs and GPUs, showing strong recovery in this area.