Today's Dispatch · Broken Finance
Another Stablecoin Discovers It Wasn't Stable
The eighth 'algorithmic' peg of the year snaps, and everyone is once again shocked that maths written by optimists doesn't hold under fear.
Friday, 10 July 2026
Down a Rabbit Hole
One man's knowledge graph, escaped into a magazine. Read at your own risk.
The Rooms
Three obsessions, industrial-gradeGeopolitics
Thank You for the Apocalypse
The world is on fire. At least the maps are interesting.
LatestA live 'euphemism index' for official statements
Tuga Car Nuts
Irrelevant Machines
Beautiful, obsolete, and gloriously bad investments.
LatestIn Defence of Owning a Car That Loses Money
Broken Finance
When the Banks Sleep
The financial system, but honest about it.
LatestAnother Stablecoin Discovers It Wasn't Stable
Essays
All essays →In Defence of Owning a Car That Loses Money
A rational person does not buy a 30-year-old machine that breaks on schedule. This is an essay for the rest of us.
05 Jul 2026 · Tuga Car Nuts
Free Ideas
The shelf →Steal this
A live 'euphemism index' for official statements
Score government and central-bank language by how far the words sit from the facts. Watch the gap widen before the crisis is admitted.
Steal this
Reverse-ETF of whatever retail is buying
Aggregate the most-shilled tickers across retail channels and build the polite, boring opposite. Not advice. Obviously.
Steal this
Provenance graph as the anti-fraud layer for classic cars
Chassis numbers, race history, ownership, restorations — one connected graph. Fakes fall apart the moment you can see the whole web.