Byrne Hobart's daily newsletter analyzing financial markets, technology companies, and business models — known for unusually sophisticated analysis that combines financial history with current events.
The Diff's distinctive mode: Hobart traces historical parallels to current financial phenomena with unusual erudition — drawing on obscure financial history to illuminate modern market dynamics. The writing is dense, analytically demanding, and assumes sophisticated financial knowledge. Represents the high end of the Substack-era financial newsletter genre — for readers who want analysis, not hot takes.
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