This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week.

<ul><li>(00:00) - "Nobody Knows Anything": Backtests are Hard</li>
<li>(06:59) - The Economics of Hacking</li>
<li>(07:43) - Lead Generation</li>
<li>(09:30) - Adverse Selection</li>
<li>(10:58) - Tip Economics</li>
<li>(12:36) - First and Last Resort</li>
</ul>

This is an audio version of the free newsletter. Read the newsletter at thediff.co, and subscribe for an additional 3 posts (and podcasts!) per week. (00:00) - "Nobody Knows Anything": Backtests are Hard (06:59) - The Economics of Hacking (07:43) - Lead Generation (09:30) - Adverse Selection (10:58) - Tip Economics (12:36) - First and Last Resort

"Nobody Knows Anything": Backtests are Hard

The Diff is a newsletter exploring the technologies, companies, and trends that are making the future high-variance. Posts range from in-depth company profiles, applied financial theory, strategy breakdowns and macroeconomics.

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"Nobody Knows Anything": Backtests are Hard

"Nobody Knows Anything": Backtests are Hard