Evan Armstrong

Evan is the lead writer at Every. He explores power and profit in technology in his twice-weekly Napkin Math column.

Jul 18, 2024

A New Book of the Startup Bible

It’s the rare business book that you should actually read

Nov 16, 2023

COGS: How I Bankrupted MoviePass

An intuitive explainer for how to lose money and win anyway

Apr 16, 2024

Distribution Is King

What video games can teach us about building billion-dollar companies

Mar 10, 2022

How To Get Leverage On Your Ideas

The Power Output Equation

Jul 9, 2024

Paramount’s Dilemma: Content Isn’t King—Distribution Is

Half a century removed from its glory days, the Hollywood giant has a new rescue plan

Dec 8, 2022

The Primary Trends I’m Investing In Next Year

China, boring AI, vertical SaaS, and Apple's power

Apr 13, 2021

Announcing Napkin Math Fiscal Year 2021

After a short break, Napkin Math returns with a new writer

Dec 5, 2023

Death of a Flywheel

Amazon and Berkshire Hathaway got really big. Here’s why it might kill them.

Sep 28, 2023

The Double Bind Theory—Or Why Sensationalism (Unfortunately) Works

If you want to win, you gotta spike

Aug 24, 2023

A TikTok Competitor Is About to IPO—And It’s Deeply Suspicious

Triller's S1 raises questions about its numbers

Dec 1, 2022

The House of the Bloody Mouse

Where does Disney go from here?

Feb 27, 2024

What the Media Is Getting Wrong About AI

The future must be built on truth

Feb 6, 2024

Profit, Power, and the Vision Pro

Will Apple’s new headset change everything?

Jan 6, 2022

What the hell is going on with Lambda School?

The complicated business of selling social good

Jun 13, 2024

The AGI-in-2027 Thesis

Some researchers are convinced that we are on the cusp of superintelligence. Are they right?

Jul 16, 2021

How Free to Play Video Games are Forced to Make Addicts

A Case Study on Market Structures and Harm

Jul 22, 2021

Snowflake: How a Revenue Retention Behemoth was Built

TL;DRThis is the second post on a deep dive in GTM metrics with a focus today on Revenue RetentionSnowflake is a software Dracula. It latche

Sep 9, 2021

Tech stocks’ favorite lie to investors

How the LTV/CAC ratio is manipulated to take advantage of retail investors

Oct 6, 2022

The Face That AI Built

My explorations in image generation

Jul 13, 2023

OpenAI’s Code Interpreter Is About to Remake Finance

Get in, loser—we’re disrupting Oracle

Jun 11, 2024

Apple’s AI Evolution: Built-in AI, Supercharged Siri, and Ecosystem Lock-in

Maybe the new world is the same as the old

Aug 13, 2021

Is Facebook Fixable

A Review of An Ugly Truth

May 9, 2024

Patreon Should Buy Substack to Save Creators

The solution to the problem of social media is to build something better

Feb 22, 2024

AI and the Vision Pro Don’t Need a Killer App

Software that drives hardware adoption is rarer than you think