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Yeu Tre Tho Issue No. 364 — Tuesday, 4 March 2026

ABOUT THE PUBLICATION · LISBON · ESTABLISHED MARCH 2018

A weekly research journal for operators, published every Tuesday since March 2018.

Yeu Tre Tho is a research-grade publication and decision journal for operators who treat how they work as seriously as what they ship. One long-form essay. One 30-minute audio breakdown. No filler.

Founded March 2018 Newsroom Rua da Boavista 84, Lisboa Cadence Weekly · 364 consecutive issues

EDITOR'S NOTE · VOL. VIII

A letter from Mae Kowalski and Diego Ferreira, on why we started this in a rented apartment in Lisbon.

We started Yeu Tre Tho in March 2018 because we were tired of watching good operators lose their week to bad information. Between the two of us — Mae out of Stripe's Risk Ops org, Diego out of Asana's Work Graph team — we had spent the better part of a decade sitting inside the same meetings: the all-hands where a roadmap got approved by generalities, the weekly business review where a number moved and nobody could say why, the offsite where three PowerPoints competed for the same hour.

The people doing that work were not stupid. They were starved. Starved of the kind of writing that actually took their job seriously — writing that admitted the trade-off, named the second-order effect, and linked the source. So we did what most frustrated operators do: we started a newsletter.

The first issue went out on a Tuesday in March 2018. It was 1,400 words long, had one chart, and was read by 312 people, almost all of whom we knew personally. We charged nothing. We charged nothing for a long time.

Eight years later, we are still here, still in Lisbon, still publishing every Tuesday. The newsroom is 14 people full-time and 22 contributors across nine countries. We have never taken outside capital. We have never missed a Tuesday, including through two recessions and one global supply chain collapse. We turn down 92% of the sponsored content that lands in our inbox, and we publish a corrections log the same week an error is flagged. We are not the biggest publication in our category. We are, by a margin we can measure, the most-read per dollar of editorial spend.

This page is the long version of why.

— M.K. & D.F., Editors

COLOPHON · NO. 04

The newsroom: 14 staff, 22 contributors, 9 countries, one studio in Lisbon.

What it actually takes to publish one essay and one audio breakdown, every Tuesday, without an off-week.

CORE TEAM · LISBON

14 full-time staff, on the ground in Rua da Boavista.

Two editors, a three-person research desk, three writers, two audio producers, a designer, a community lead, an ops generalist, and a finance & partnerships person. We do not subcontract the writing. Every word that ships under the Yeu Tre Tho name is owned by a person on this payroll.

CONTRIBUTOR NETWORK

22 contributors across 9 countries, on retainer.

Former operators who file one essay a quarter. They average 11.3 years of in-house operator experience before writing a single issue; 71% have held a P&L, and 38% have co-founded a company. Every byline carries their real title and last role, not a flattering pseudonym.

RESEARCH DESK

A 3-person desk that checks every primary source.

Every claim in every essay links to a primary source. The research desk runs those checks before publication and runs them again whenever a reader flags a footnote. When something is wrong, the corrections log goes out the same week — not the same quarter, not the same year.

AUDIO STUDIO

A custom-built 6-room studio with 98.4% transcription accuracy.

The 30-minute audio breakdown is produced in-house, in a six-room studio two floors above the editorial floor. Forensic-grade transcription is verified by an independent QA audit every quarter; the most recent figure (Q1 2024) was 98.4%. The same script reads identically on the page and in the ear.

The Yeu Tre Tho newsroom interior in sepia duotone.
The newsroom at Rua da Boavista 84 — photographed on a Sunday, when the only sound is the espresso machine.

COLOPHON · AS OF FEBRUARY 2026

By the numbers, as of February 2026.

Weekly issues published
364consecutive Tuesdays, zero off-weeks
Verified open rate
51.2%last 26 issues, ESP third-party audit, Nov 2025
Free subscribers
104,000+weekly readers across 67 countries
Paid Operating Partners
1,400+renewal rate above 91% for 19 consecutive quarters
FY2025 revenue
$2.7M63% gross margin, bootstrapped, no outside capital
Most-read issue
38,400first-week downloads — Issue #271, "The Meeting Audit That Saved $4.2M"
Research-request turnaround
4 daysbusiness days, for paid Operating Partners
Trusted by operators at
Notion · Linear · Mercury · Vanta · Webflowand 2,300+ other B2B teams

HOW WE WORK · MANIFESTO

Three rules we don't bend.

The publication runs on a small number of operational rules. They are simple to state and difficult to keep. We have kept them for 364 consecutive issues.

  1. Rule 01

    We turn down 92% of sponsored content, and we disclose every paid partnership in-line.

    Sponsorship has to fund the work without distorting it. We reject nine out of ten pitches that come in, and the one in ten we accept is labelled at the top of the issue, not buried in a footer a thousand words later. If you can find a paid partnership we have not disclosed, we will publish the correction the same week and credit your reader account a year of paid membership.

  2. Rule 02

    Every claim links to a primary source, and corrections ship the same week they are flagged.

    Our three-person research desk checks every footnote before publication. When a reader writes in with a correction, the corrections log goes out the same week — by email to the full subscriber list, with the original sentence and the corrected one side by side. We do not wait for a quiet Friday afternoon to fix things that should have been right in the first place.

  3. Rule 03

    Authors are operators first, writers second — and they sign with their real title.

    Our writers average 11.3 years of in-house operator experience before they write a single issue; 71% have held a P&L and 38% have co-founded a company. Every byline carries their last role and where they held it. If a contributor cannot point to the meeting where the advice in their essay actually got used, we do not run the essay.

SUBSCRIBE · WEEKLY DROP

Every Tuesday, one essay. One audio breakdown. Zero filler.

Built to replace the 47 browser tabs, three podcasts, and four Substack subscriptions that clutter your reading queue. Free in your inbox, or paid with the research desk on call.

Free forever. Paid from $14 / month or $128 / year. Cancel from any issue.