Earnings

Why Earnings Don't Equal Cash Flow: A Founder's Guide

August 25, 2026 · 12 min read

Reported profit is an accountant's considered opinion; cash is closer to a fact. An earnings collapse can be almost entirely an accounting artifact while the cash the business generates barely moves.

Reading 4,000 Earnings Calls: What Patterns Emerge

February 19, 2026 · 11 min read

Every quarter, thousands of public companies deliver earnings calls. Most investors listen to a handful. What happens when you read thousands of them systematically — not for the numbers, but for the language?