The Big Story
The Lottery With a Leaderboard: Inside the Memecoin Generation
Onchain trading became a youth culture before it became a business. The numbers on who wins are kinder than a year ago, and stranger than the timeline admits.
Features
The Big Story
The Teenage App Boom, and the Arithmetic Underneath It
AI let high schoolers ship App Store hits from their bedrooms. The subscription maths, the platform tax and the churn curve decide who keeps them.
The Big Story
The Audience Is the Ad Budget, Until It Isn't
Creators found that a built-in audience is the cheapest way onto a shelf. The wreckage of Prime and the books of Feastables show what it cannot buy.
Annals of Ambition
The Dropout Premium, Revisited
Fifteen years after Peter Thiel began paying teenagers to leave school, the data separate what dropping out buys from what selection already knew.
Annals of Education
The Degree Still Pays. The First Job Is the Problem.
The average college premium is intact and large. The case against the degree is about cost, spread and an entry-level job that is getting harder to find.
Annals of Markets
The Contract Is Open to Eighteen-Year-Olds. The Casino Is Not.
Prediction markets built by founders barely past thirty are now fought over in appeals courts, and the argument turns on how old you must be to bet on a game.
Letter from San Francisco
Nine-Nine-Six, or the Price of the Window
San Francisco's young founders have adopted the schedule China outlawed. What they are buying is less output than a place in line.
Dept. of Money
The Dashboard Is the Pitch: Inside the Revenue Screenshot
Young founders post proof of income as marketing. A short history of what is verified, what is merely claimed, and who is paid to tell the difference.
The Big Story
When the Trade Looks Like a Bet and the Bet Looks Like a Trade
Surveys of young Americans show sportsbooks, options and prediction markets converging on one product, and respondents who cannot agree on its name.
Annals of Education
The Trading Pit Reopened in a Chat Window
Young people now learn money from Discords, X and YouTube while schools catch up. The old apprenticeships worked because someone checked the work.