Articles

The 90-Day Trap: Why UK Employees of Global Startups Are Working for Free

UK employees of US startups typically receive stock options with a 90-day exercise window after leaving. For illiquid private companies, this makes options effectively worthless—you must find cash to exercise shares you can't sell, AND pay income tax on paper gains you can't realize. A mandatory 5-year exercise window would be a no-cost policy change that aligns incentives, keeps talent in the ecosystem, and encourages UK workers to join high-growth international companies.

The Nominal Trap: Why Capital Gains Rate Isn't the Problem

At founder-scale wealth, the capital gains tax rate becomes irrelevant—only the nominal amount matters. When potential tax bills reach hundreds of millions or billions, even 'reasonable' rates trigger emigration. The question isn't whether this is fair, but whether UK policy should capture partial revenue through structured reinvestment or lose everything to jurisdictions with zero capital gains tax.

The $21 Billion Mistake: What Blocking NVIDIA-ARM Really Cost Britain

When the CMA blocked NVIDIA's acquisition of ARM in 2022, it didn't just prevent a transaction—it prevented a wealth-creation event for thousands of UK workers. NVIDIA promised $1.5 billion in equity to ARM employees. That stock would now be worth $21 billion. Competition policy that ignores ecosystem wealth effects is incomplete.

Silence Is Not a Signal: The Biology of Asking for a Pay Rise

The biggest barrier to getting a pay rise isn't rejection—it's silence. Biology teaches us that signals not sent produce exactly zero response. In 2026, the most valuable career move costs nothing but discomfort.

The Transaction Tax Trap: Why Stamp Duty Fails and Land Value Tax Would Work

Stamp duty is a transaction tax that punishes mobility while protecting incumbent landowners. It creates artificial friction that prevents labor markets from functioning efficiently. Rachel Reeves' inaction is a missed opportunity—switching to a land value tax would align incentives with actual economic behavior.

The Minimum Evolvable Product: Why Startups Need to Adapt, Not Just Survive

Your first product isn't just about surviving—it's about retaining the flexibility to become something else based on what early users teach you. The MVP tests viability; the MEP tests evolvability.

The Database as Weapon: How American Airlines Turned Information Into Market Dominance

In 1953, a chance conversation on an airplane led to a $40 million gamble that would reshape air travel. American Airlines didn't just build a reservation system—they built an information monopoly. By controlling how travel agents saw flight options, they controlled which flights got booked. For five years in the 1980s, American's flights always appeared first, regardless of price or schedule. Competitors were buried on page two, where no one looked. Meanwhile, Larry Ellison watched IBM sit on the greatest database innovation in history and saw his opening. The story of Sabre and the relational database revolution reveals a fundamental truth: whoever controls the database controls the game.

The Flaxseed Paradox: When Calories Pass Right Through

Seeds evolved to survive digestion—that's the point. The calorie count on flaxseed packaging assumes complete absorption, but if you're passing whole seeds in your stool, you're absorbing a fraction of what the label claims. The same biology that makes seeds effective dispersal vehicles makes them nutritionally unavailable.

The Enforcer's Paradox: What Happens When the Cop Breaks the Law

International order depends on costly enforcement—but the enforcer's power comes from being perceived as bound by the same rules. When the enforcer stops paying the cost of restraint, they don't just break a rule. They break the mechanism that made their enforcement credible.

The Bandwidth Inheritance: How the Dot-Com Crash Built YouTube

YouTube succeeded not despite the dot-com crash, but because of it—the bubble's telecom overbuild created a glut of cheap bandwidth that made consumer video streaming economically viable.

The Paradox of Cold Children: Why Kids Seem Impervious to Winter

Children should feel colder than adults—their higher surface-area-to-volume ratio means faster heat loss. But brown fat, elevated metabolism, and constant movement generate so much heat that kids run a thermal surplus parents can only remember.

The Thameslink Transformation: How Cross-London Rail Became Biology's Network Effect

The Thameslink Programme didn't just add new train routes—it created a network where previously isolated stations became connected nodes, generating the same compounding value that biological networks create when organisms share resources across distance.

When the Beast Attacked: How Stena Line's Real-Time Adaptation Saved a Wedding

The Tram That Never Came: Sutton's £560m Lesson in Collective Action Failure

The South Wimbledon to Sutton Tramlink extension promised better transport for 250,000 residents. But like a bacterial colony that fails to reach quorum, the political will never quite assembled—and eight years later, the tram remains a planning document.