Jan 23, 2026

Subject: Insights on Executive Pay and Moonshot Incentives

Content Summary:

This detailed analysis emphasizes how executive compensation structures aim to incentivize CEOs to align with shareholder goals, particularly encouraging risk-taking for potential high rewards. It highlights that moonshot pay packages, widely popularized by Elon Musk, are designed for CEOs to take substantial risks with a small chance of spectacular success rather than steady incremental gains. The article discusses the theoretical underpinnings of these incentives, the practical realities shown in recent compensation trends, and the mixed success rates of such packages. Additionally, it touches on memecoin financing phenomena, citing examples of novel crypto tokens such as $BLEEBZORX, and warns about the risks and social costs associated with involvement in such speculative assets. The piece closes with an example of deceptive merger negotiations aimed at stifling competition and mentions challenges faced by investors and regulators in balancing innovation and market fairness.

Subject: New Notes from Andrew Lokenauth and Joseph Politano

Content Summary:

This email announces new analytical notes posted by industry experts Andrew Lokenauth and Joseph Politano. Topics include predictions about possible rolling blackouts in the U.S. during summer due to energy constraints, record highs in data center construction reflecting tech infrastructure growth, and a discussion on the disproportionate rise in college costs relative to graduate earnings over the past 50 years. The email invites the recipient to engage with the experts’ insights via the Substack platform.

Subject: Asia-Pacific Broadcasting+ Awards 2026: Call for Nominations

Content Summary:

The email invites nominations for the Asia-Pacific Broadcasting+ Awards 2026, celebrating innovation and excellence in broadcasting technology. It highlights categories related to digitalization, engineering, and advanced media technologies including 5G, AI, AR, and VR. The call to action encourages industry leaders and innovators to submit groundbreaking projects by the deadline of March 13, 2026. It also provides contact details for inquiries and links to previous winners and event highlights, positioning the awards as a prestigious platform within the Asia-Pacific media industry.

Subject: Market Outlook: Small-cap Stocks and Tech Sector Prospects

Content Summary:

This market analysis identifies a robust start for small-cap stocks (Russell 2000) in early 2026, noting multiple record closes and significant gains that outpace some major indices like the Nasdaq Composite. Historical patterns suggest that although small caps lead initially, technology stocks often outperform over a one-year horizon. Commentary from veteran investors and analysts outlines cautious views about the sustainability of small-cap momentum due to factors such as inflation, interest rates, and housing market weakness. The report includes asset performance data, upcoming economic indicators, and notable company earnings, providing a comprehensive overview for investors considering exposure in small-cap and tech sectors.

Subject: Axios Pro Rata: Venture Capital News and South Korea Dispute

Content Summary:

This newsletter highlights key issues and deals in the venture capital and private equity space. It covers an unusual legal dispute where U.S. venture capital firms Greenoaks and Altimeter have filed claims against South Korea, alleging unfair treatment of e-commerce giant Coupang and potential violations of the U.S.-Korea Free Trade Agreement due to over-penalizing after a data breach. The piece also announces EQT’s acquisition of Coller Capital, marking significant strategic moves in the secondaries market. Additionally, it provides updates on notable venture capital fundraising rounds, private equity acquisitions, IPOs, liquidity events, personnel changes, and market trends, giving a broad view of current developments in the private markets.

Subject: Money Stuff: FTX Charitable Legacy and Private Credit Challenges

Content Summary:

This article reflects on the complex legacy of FTX, focusing on its role as a funnel for Effective Altruism (EA) charitable donations before its 2022 collapse and the resulting litigation over charitable bonus payments. It also examines the intricacies of private credit investment as it attempts to expand into retail markets, particularly 401(k) plans, highlighting the tension between long-term illiquid investment vehicles and investors’ demands for liquidity. The piece explores regulatory and market responses to increased redemption requests by individual investors. Further sections analyze insider trading concerns related to 10b5-1 plans through a recent legal case, describe the dynamics within AI research startups, and discuss unconventional corporate strategies like Ryanair’s provocative ‘idiot sale’ amidst a public feud with Elon Musk. The newsletter closes with brief news items about financial markets, regulatory developments, and corporate governance trends.

Stay Well!