Learn the machinery

Field guides

Start with category boundaries, app evaluation and control architecture. A comparison is useless when fundamentally different products are treated as the same thing.

Reading order

  1. 01Identify the category.

    Signal, assistant, bot, agent or managed product.

  2. 02Trace the control path.

    Who can move capital, where and under what limits?

  3. 03Measure the net outcome.

    After fees, slippage, funding and operational failure.