The Wrong Denominator

Billionaire philanthropy looks generous until you compare it to the right number.

2026-07-03 · David H. Friedel Jr. · 3 min read

Nobody Broke the Law

The Supreme Court just told private investors they cannot sue under a foundational securities statute. The disturbing part isn't that the system is lawless.

2026-06-12 · David H. Friedel Jr. · 10 min read

The Three Checks Failed at Once. That Was Not an Accident.

Fiduciary duty was supposed to be one of three forces that keep powerful people honest.

2026-06-03 · David H. Friedel Jr. · 11 min read

Forking the Architecture

What You Build When the Front Door Is Welded Shut

2026-05-01 · David H. Friedel Jr. · 9 min read

Power Neutrality Theater

Louisiana v. Callais and the Constitutional Laundry It Just Built

2026-04-30 · David H. Friedel Jr. · 6 min read

Three Blueprints for the Mechanic

The essay asked for a builder. Here's where the building starts.

2026-03-26 · David H. Friedel Jr. · 12 min read

We Built Guardrails in 1985. Who Will Build Them Again?

The guardrails didn’t disappear. They were reinterpreted. And the system is now selecting for compliance.

2026-03-03 · David H. Friedel Jr. · 8 min read

Stop Optimizing for Headlines

A systems-level strategy for avoiding generational blowback and why the current direction looks like the opposite

2026-03-01 · David H. Friedel Jr. · 7 min read

When the Playbook Writes Itself

Why attacks on American institutions don’t require masterminds and why the available defenses are far narrower than we pretend

2025-11-19 · David H. Friedel Jr. · 6 min read