Press Space to continue
Curated tech posts from X on AI, startups, and product development—signal without the doomscroll, updated on weekdays.
Press Space to continue
Press Space to continue
Twenty men each took a little money from one traveler and together they cost their city every visitor he would have sent for years. Economics has a name for this. In 1998 a Columbia law professor named Michael Heller was in Moscow after the Soviet collapse and noticed something strange. Storefronts on the main streets sat empty while flimsy metal kiosks crowded the sidewalks right in front of them. The shops weren't unusable. They just had too many owners. Privatization had handed out rights…