BETA/X / ABOUT
Independent by design.
BETA/X is the personal research practice of Shihao Xiao—an attempt to connect markets, infrastructure and cities without compressing every idea into a hot take.
Why BETA/X exists
Investment decisions live inside systems. A company depends on energy and capital. A city depends on infrastructure, planning and human behaviour. Price matters, but context decides what that price means.
This site is a public research notebook: a place for developing original views, showing the assumptions behind them and revisiting those views when the evidence changes.
How the work is approached
The aim is not to predict every move. It is to identify the variables that matter, separate observation from interpretation and make uncertainty visible. Where a conclusion is provisional, it should read as provisional.
What you will find here
Long-form essays, concise field notes and practical frameworks across public markets, the energy transition and London property. The scope may expand, but the editorial standard should remain the same.