🐼 012 Can work or does work?


"We wanted an animal that is beautiful, is endangered, and one loved by many people in the world for its appealing qualities. We also wanted an animal that had an impact in black and white to save money on printing costs." Sir Peter Scott

Scott was a co-founder of WWF and the designer of the first WWF logo.

“In a bow to the move to indexing, we have something that says hey, people can’t take much tracking error so we are going to start with the S&P 500, which is most people’s benchmark, and if we find something that is cheap we might overweight it a little bit.”

That’s from a conversation between Joel Greenblatt and Ted Seides.

This newsletter is heading back into hibernation. Here’s the long story. Premium supporters can see the plan for their subscriptions at the bottom.

A bunch of thoughtful people started up Substacks. I enjoyed them. I should do emails too. We made it twelve weeks, no small feat.


Blogging is better for me. The Waiter’s Pad will cross 800 posts this summer. There are all kinds of ideas, backlinks, media, connections, and mental-scaffolding there that I love.

Substack is great but it lacks the things I miss. Most internet content is long-tail content. I want to contribute to that. I want to share things that people find next year or next decade. Writing a newsletter is good for a lot of people but it’s not good for me.

The Waiter’s Pad has email signup if you’d like to get posts.

Premium supporters should see an automatic refund by next week. The feeling of someone paying you for online work is no small thing. Thank you.