, Columnist
The Endless Shrimp Investigation
Red Lobster, the move to T+1, Greenlight’s head of macro, the Flashbots exploit and cocoa mapping.
Here is a hypothetical move:
There is presumably some tipping point. There is some level where the restaurants are viable enough that you will want to operate them to maximize their equity value, but if they fall below that level, you will give up on the equity and just try to maximize the shrimp consumption. In the first equilibrium, you will spend money carefully on shrimp and biscuits and silverware and advertising, with the goal of increasing profitability. In the second equilibrium, you will spend money profligately and only on shrimp, with the goal of spending money on shrimp.