Markets crash, history rhymes
Financial markets are where power, psychology, and policy collide.
Crashes studies the most dramatic episodes in financial market history—who was involved, how it unraveled, what caused it, and why it may happen again.
Join us to remember the hard lessons that markets tend to forget.
The Podcast
Crashes is a narrative podcast. Each episode tells the story of a financial market collapse in history. From the South Sea Bubble to the Great Depression and the Global Financial Crisis, we explore how participants behaved, what the data said, and why the system broke.
We don’t just tell you what happened—we craft the story to show you how it unfolded and why it matters.
Each season combines deep research with storytelling, unpacking everything from GDP growth and interest rate policy to IPO booms and credit spreads. You'll meet the investors, CEOs, regulators, and unsuspecting traders swept up in the madness.
We often feature guests—investors, founders, regulators, policy-makers, journalists, and professors—to give us a visceral appreciation for what it was like to navigate these cycles.
We invest hundreds of research hours to bring you an episode every month.
The Newsletter
The companion newsletter to the podcast dives deeper into the ideas, data, and decision-making across financial market history.
Each article organizes frameworks and lessons into actionable insights. We unpack investor psychology, policy decisions, market structure, capital flows, and the leading indicators. The goal is to help us—and the Crashes community—develop robust mental models to navigate market cycles successfully.
What to expect:
Data-driven breakdowns of historic crashes
Lessons in capital allocation, market structure, and investor behavior
Frameworks and mental models for navigating cycles
Curiosity—and market events—drive our writing to bring you an article every week.
The Team
Daniel Gamboa led investment operations at Divvy Homes until being acquired by Brookfield in February 2025. Prior to that, he worked across engineering, product, and finance at several high-growth startups and energy ventures. Daniel is based in Texas.
Matt Harris is the co-founder of venture-backed startup Arcatar. Prior to that, he spent 15 years in the investment world—10 as a mezzanine investor at Blackstone and five as a principal at Silicon Valley-based venture firm Draper Associates. Matt is based in Connecticut.
