Buyer beware
The future of e-commerce will be dystopian unless we reimagine it
Medium of Exchange
Serious thinking about finance, technology, and public policy
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Field notes: March 2026
Who will pay for the NSF fee cap? Wealthsimple is not a "non-bank fintech." Fintrac does too little, too late. Detours in utopia, equality, bees dreaming, and the future of work.
Canada’s new bank bargain is old
The deep roots of Mark Carney’s competition-boosting banking agenda
I want to take Mark Carney to the dog park
The financial system is so complex that consumers don't know when or how they're protected
Field notes: February 2026
De-risking banks is risky. Managed decline of public markets. Paying for fraud. Restricting stablecoins. Detours in brassica and how to win the Westminster dog show.
Field notes: February 2026
Access to private markets. OSFI's virtuous bankers. Brian Armstrong's crusade to reinvent banking. Build Canada medicine. Detour in anthropocentric accounting.
Human erasure
A techno-utopian mission to reduce the last transaction costs
Field notes: January 2026
Switching banks, AI bubble, the U.S. politics of crypto, Tiff Macklem on non-bank financial institutions, and Mark Carney's speech
Useful instruments
On Donald Trump, Klarna's CEO, and the politics of credit cards
Field notes: January 2026
AI replacing zombie bankers, Brexit to Bre-integration, UK crypto regulation, Bank of Canada independence, stablecoin cost-benefit analysis, Marshall McLuhan, and selling onions