Blog
Senior Housing Is an Operations Business with Real Estate Around It
Once you compare expense ratios across senior housing tiers, the asset class stops looking like real estate. The building is the container; the care is the business — and lenders, operators, and absorption math all reflect that.
Building for People Who Don't Want to Leave
Senior housing development requires solving an unusual problem — your target resident isn't looking for you yet, but a specific event will change that.
Tax Credits and Density Bonuses Are How Affordable Housing Actually Closes
LIHTC syndication, California density bonus law, and Transit Priority Area programs — the layered tools that close the financing gap on affordable housing, and what each one trades.
Affordable Housing Is a Financing Problem Before It Is a Building Problem
Why affordable and market-rate multifamily share the same construction process but completely different economics — and how layered financing, tax credits, and California density tools change the math.
Multifamily Feasibility Runs on Absorption and Developer's Cap Rate
Two pro forma inputs decide whether a multifamily project actually pencils — how fast it leases up, and whether the developer's cap rate beats the market by enough to justify the construction risk.
The Pro Forma Is Where Multifamily Development Actually Happens
How feasibility decides whether a multifamily project moves forward — site selection, density calculations, impact fees, absorption risk, and the developer's cap rate.
Apartment Development Is a Long Game, and Everything Follows From That
How the rent-or-sell decision shapes apartment development, why homeownership is your real competition, and what building codes reveal about construction economics.
The Seven Problems Happiness Actually Solves at Work
Why happiness at work isn't soft — Dacher Keltner's enumeration of stress, health risk, withdrawal, boredom, self-criticism, incivility, and mishaps
What Zappos Figured Out About Happiness at Work
A 10-year Zapponian on WISHEZ, "deliver WOW" applied internally, and an 8% turnover rate that reframes happiness as infrastructure rather than perks
The Four Pillars of Happiness at Work Spell PERK
Purpose, Engagement, Resilience, Kindness — what each pillar actually means, the research behind it, and why they only work when you stack all four
Happiness at Work Isn't What Most People Think It Is
Researchers reject "perpetual cheerfulness" and "maximized pleasure" — happiness at work is something different, and PERK is how they map it
Software Wasn't Built for AI Agents, but They're Becoming the Users Anyway
Notes from Google Next '26 on how the entire software stack changes when AI agents — not humans — become the primary user.