Operator's Memo

Topic

Marketplaces

  1. Marketplaces

    The Cap Can't Police Sponsor Deals

    The Kawhi-Aspiration dispute shows salary-cap enforcement can't police a sponsorship market where the teams under scrutiny broker the deals.

    6 min read

  2. Marketplaces

    NIL's Ownership Gap: Daniels vs. LSU

    LSU's jersey fight with Jayden Daniels exposes a missing layer in the NIL marketplace: contracts for who owns a number after the athlete leaves.

    6 min read

  3. Marketplaces

    Marketplaces Still Work — the Liquidity Math Changed

    AI has quietly rewritten marketplace unit economics, and match quality can be a moat again for the first time in a decade.

    6 min read

  4. Marketplaces

    Why Alpine's Next Co-Owner Needs More Than Cash

    As F1 team valuations spiral toward $10 billion, capital is commoditized and control is scarce—money-only co-owners get diluted out.

    6 min read

  5. Marketplaces

    The NFL's Prediction Markets Fight Is About Rights

    The league's 'objectionable' framing isn't consumer protection—it's a defense of who gets paid when its games become tradable events.

    6 min read