Insights
Occasional writing on where opportunity is moving and what helps small places claim it. First up: The New Capital of Small Towns, on the leverage small places now hold, what the moment demands of them, and what they can demand in return.
Field notes
November 5, 2026
Only twelve U.S. cities have more than a million residents. Nearly 96% of America’s cities and towns have fewer than 50,000. For years the smaller ones were hard for serious investors to read. That is changing, and our thinking needs to catch up.
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