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← Debt is best understood as narrowing the range of outcomes you can survive, not as a cost of capital.
17 connected korrents · 15 moments from 11 Feb 2019 to 25 Sept 2026.
Everything filed under interest rates
interest rates
Everything filed under stock market
stock market
Everything filed under venture capital
venture capital
Everything filed under investing
investing
Everything filed under capitalism
capitalism
Everything filed under ambition
ambition Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Same subject Read this korrent: Debt is best understood as narrowing the range of outcomes you can survive, not as a cost of capital. Debt is best understood as narrowing the range of outcomes you can survive, not as a cost of capital. Last stated 3 years ago
30 Apr 2024
MH
Morgan Housel — holds since 2024-04-30 — tap for who they are
Same subject: The real price of debt is paid in options and flexibility, which is the asset that matters most. — tap to centre the map on it The real price of debt is paid in options and flexibility, which is the asset that matters most. Last stated 3 years ago
30 Apr 2024
MH
Morgan Housel — holds since 2024-04-30 — tap for who they are
Same subject: Maintaining the status quo has come to mean maintaining a significant amount of debt. — tap to centre the map on it Maintaining the status quo has come to mean maintaining a significant amount of debt. Last stated a year ago
16 Jul 2025
AP
Anne Helen Petersen — holds since 2025-07-16 — tap for who they are
Same subject: A government debt crisis is measurable and therefore visible well in advance; the diagnostic is mechanical rather than a matter of judgement. — tap to centre the map on it A government debt crisis is measurable and therefore visible well in advance; the diagnostic is mechanical rather than a matter of judgement. Last stated 2 months ago
21 Aug 2026
RD
Ray Dalio — holds since 2026-08-21 — tap for who they are
Same subject: Buying beyond what you can comfortably afford leaves people financially weaker and stuck living paycheck to paycheck. — tap to centre the map on it Buying beyond what you can comfortably afford leaves people financially weaker and stuck living paycheck to paycheck. Last stated 3 months ago
30 Jul 2026
JC
JL Collins — holds since 2026-07-30 — tap for who they are
Same subject: When safe interest rates are expected to remain below growth rates for a long time, rolling over public debt without later tax increases is feasible and public debt may carry no fiscal cost. — tap to centre the map on it When safe interest rates are expected to remain below growth rates for a long time, rolling over public debt without later tax increases is feasible and public debt may carry no fiscal cost. Last stated 3 years ago
6 Nov 2023
OB
Olivier Blanchard — holds since 2019-02-11 — tap for who they are
OB
Olivier Blanchard — no longer holds since 2023-11-06 — tap for who they are
Same subject: Success in growth is the output of a lot of failures, so the real constraint is how much time you have left to fail in. — tap to centre the map on it Success in growth is the output of a lot of failures, so the real constraint is how much time you have left to fail in. Last stated 2 years ago
19 Jan 2025
EV
Elena Verna — holds since 2025-01-19 — tap for who they are
Same subject: Bad loans are bad revenue that will eventually kill you, even though for a while they look like profit. — tap to centre the map on it Bad loans are bad revenue that will eventually kill you, even though for a while they look like profit. Last stated a year ago
16 Jul 2025
JD
Jamie Dimon — holds since 2025-07-16 — tap for who they are
Same subject: The cost of a thing is the amount of life that has to be exchanged for it, now or in the long run — tap to centre the map on it The cost of a thing is the amount of life that has to be exchanged for it, now or in the long run
HT
Henry David Thoreau — holds since c. 1854 — tap for who they are
Same subject: A "good business" now means one that can display quarter-on-quarter stock growth, not one that makes good products at a fair price. — tap to centre the map on it A "good business" now means one that can display quarter-on-quarter stock growth, not one that makes good products at a fair price. Last stated a year ago
21 May 2025
EZ
Ed Zitron — holds since 2025-05-21 — tap for who they are
Same subject: A high, stable dividend yield gives a stock's valuation a downside floor that growth stocks without dividends lack. — tap to centre the map on it A high, stable dividend yield gives a stock's valuation a downside floor that growth stocks without dividends lack. Last stated 8 months ago
3 Mar 2026
SB
Sanjay Bakshi — holds since 2026-03-03 — tap for who they are
Same subject: A society's prosperity comes from its productivity, not from the financial system or stock market. — tap to centre the map on it A society's prosperity comes from its productivity, not from the financial system or stock market. Last stated a month ago
25 Sept 2026
MM
Mr. Money Mustache — holds since 2026-09-25 — tap for who they are
Same subject: A big venture firm's edge is deploying capital into what is obviously working; a small firm's is backing a founder or idea that is not yet obvious. — tap to centre the map on it A big venture firm's edge is deploying capital into what is obviously working; a small firm's is backing a founder or idea that is not yet obvious. Last stated a year ago
23 Jul 2025
JS
Jon Sakoda — holds since 2025-07-23 — tap for who they are
Same subject: A cash-flowing core business can fund long-term speculative R&D in a way no venture capitalist would ever support. — tap to centre the map on it A cash-flowing core business can fund long-term speculative R&D in a way no venture capitalist would ever support. Last stated 7 months ago
12 Apr 2026
ES
Evan Spiegel — holds since 2026-04-12 — tap for who they are
Same subject: A first-time founder has an advantage over a repeat winner, because past success makes it too easy to raise money and hire against a big vision before there is product-market fit. — tap to centre the map on it A first-time founder has an advantage over a repeat winner, because past success makes it too easy to raise money and hire against a big vision before there is product-market fit. Last stated 5 months ago
14 Jun 2026
MP
Mark Pincus — holds since 2026-06-14 — tap for who they are
Same subject: A bank should be managed against the fat tails it can imagine, not against the stress test its regulator hands it. — tap to centre the map on it A bank should be managed against the fat tails it can imagine, not against the stress test its regulator hands it. Last stated a year ago
16 Jul 2025
JD
Jamie Dimon — holds since 2025-07-16 — tap for who they are
Same subject: A central bank can stop giving forward guidance without abandoning accountability for explaining its decisions. — tap to centre the map on it A central bank can stop giving forward guidance without abandoning accountability for explaining its decisions. Last stated 2 months ago
20 Aug 2026
CS
Claudia Sahm — holds since 2026-08-20 — tap for who they are
Same subject: A central bank press conference exists for the chair to explain and answer for the committee's decision. — tap to centre the map on it A central bank press conference exists for the chair to explain and answer for the committee's decision. Last stated a month ago
21 Sept 2026
CS
Claudia Sahm — holds since 2026-09-21 — tap for who they are
At the centre
Debt is best understood as narrowing the range of outcomes you can survive, not as a cost of capital.
Holds Read this korrent →
The real price of debt is paid in options and flexibility, which is the asset that matters most.
Holds
Maintaining the status quo has come to mean maintaining a significant amount of debt.
Holds
A government debt crisis is measurable and therefore visible well in advance; the diagnostic is mechanical rather than a matter of judgement.
Holds
Buying beyond what you can comfortably afford leaves people financially weaker and stuck living paycheck to paycheck.
Holds
When safe interest rates are expected to remain below growth rates for a long time, rolling over public debt without later tax increases is feasible and public debt may carry no fiscal cost.
No longer holds
Success in growth is the output of a lot of failures, so the real constraint is how much time you have left to fail in.
Holds
Bad loans are bad revenue that will eventually kill you, even though for a while they look like profit.
Holds
The cost of a thing is the amount of life that has to be exchanged for it, now or in the long run
Last stated c. 1854
Holds
A "good business" now means one that can display quarter-on-quarter stock growth, not one that makes good products at a fair price.
Holds
A high, stable dividend yield gives a stock's valuation a downside floor that growth stocks without dividends lack.
Holds
A society's prosperity comes from its productivity, not from the financial system or stock market.
Holds
A big venture firm's edge is deploying capital into what is obviously working; a small firm's is backing a founder or idea that is not yet obvious.
Holds
A cash-flowing core business can fund long-term speculative R&D in a way no venture capitalist would ever support.
Holds
A first-time founder has an advantage over a repeat winner, because past success makes it too easy to raise money and hire against a big vision before there is product-market fit.
Holds
A bank should be managed against the fat tails it can imagine, not against the stress test its regulator hands it.
Holds
A central bank can stop giving forward guidance without abandoning accountability for explaining its decisions.
Holds
A central bank press conference exists for the chair to explain and answer for the committee's decision.
Holds