Newcomer is a deeply reported newsletter on the inner workings of the startup and venture capital industry, written by Eric Newcomer and collaborators. Readers get analysis of fundraising, neocloud and AI infrastructure finances, fintech milestones, and promotion of the associated podcast and AI show.

Research-driven essays on crypto and fintech businesses, examining who captures revenue in onchain finance, how companies like Rain and Visa build and defend their economics. Readers get sourced, analytical breakdowns of retained revenue, valuations and payment infrastructure aimed at investors.

Andrew Chen, a venture capitalist, writes essays on how AI, consumer apps and growth dynamics are reshaping tech markets. Readers get opinionated analysis of network effects, product retention and viral loops, drawn from firsthand experience.

ARPU is a daily-style tech business newsletter that dissects the economics of the AI boom, such as neocloud leverage, token costs squeezing startup margins, and frothy AI valuations. Each issue uses historical analogies and concrete numbers to explain what the financial mechanics mean for investors and founders.