429 Too Many Requests
The best Stratechery content from the week of April 21, 2025, including Tech History and Apple's...
An Interview with Eric Seufert About Digital Advertising During Political Uncertainty
An interview with Eric Seufert about the impact of the trade war on digital advertising, the...
Netflix Earnings, Netflix’s Growth Plans, Ads and Price Segmentation
Netflix's earnings and 2029 goals show new avenues of growth that are downstream from increased segmentation.
Apple and the Ghosts of Companies Past
Apple is not doomed, but for the first time in a long time its long-term fortunes...
Google Loses Ad Antitrust Case, Market Definitions and Tying, The Trinko Exception
Google lost its ad antitrust case; if the case is upheld, it has important implications for...
2025.16: Meta and the Shape of Digital Markets
The best Stratechery content from the week of April 14, 2025, including the three eras of...
An Interview with Dan Kim and Hassan Khan About CHIPS
An interview with Dan Kim and Hassan Khan about their work distributing CHIPS program money, and...
Nvidia H20 Restricted in China, The Huawei CloudMatrix 384, Whither Chip Controls
It appears that Nvidia will never be allowed to sell AI accelerators to China again, even...
Meta v. FTC, The Three Facebook Eras, Video Slop and Market Forces
The FTC’s case against Facebook doesn’t make sense because it conflates three distinct Facebook eras, and...
ChatGPT Memory, Boundaries and AI Companions, Auren
ChatGPT's memory feature is pretty basic, but it's the sort of product feature that can build...
2025.15: Liberation and Whiplash
The best Stratechery content from the week of April 7, 2025, with a focus on the...
An Interview with Google Cloud Platform CEO Thomas Kurian About Building an Enterprise Culture
An interview with Google Cloud Platform CEO Thomas Kurian about Google's infrastructure advantage and building and...
American Disruption
A new take on Trump's tariffs, including using a disruption lens to understand the U.S.'s manufacturing...
Apple’s China Problem, Apple in the Short Term, Tech’s Complement Risk
A focus on the tariff's impact on Apple specifically, and how Apple itself contributed to China's...
Trade, Tariffs, and Tech
There is an argument for the Trump tariffs, but the risks are too great relative to...
Vacation: March 31st to April 3rd
Stratechery is on vacation from March 31 to April 3; the next Stratechery Update will be...
An Interview with Snowflake CEO Sridhar Ramaswamy About Data and AI
An interview with Snowflake CEO Sridhar Ramaswamy about taking over Snowflake, focusing on product, and competing...
OpenAI’s New Image Model, Graphic Design and Google, More on Security
OpenAI's new image generation capabilities feel like another AGI domino; then, yes, security is about more...
The Trump Administration Group Chat, Signal: The Coke of Secure Messaging, Transparency Versus Security
The Trump administration's Signal gaffe raises fascinating questions about secure messaging and the trade-off inherent in...
YouTube TV, Wiz, and Why Monopolies Buy Innovation
Google could aggregate TV, but it might not have the product capability; that's a convoluted way...
An Interview with OpenAI CEO Sam Altman About Building a Consumer Tech Company
An interview with OpenAI CEO Sam Altman about building OpenAI and ChatGPT, and what it means...
Nvidia GTC and ASICs, The Power Constraint, The Pareto Frontier
Jensen Huang's GTC keynote was a compelling argument in favor of Nvidia's position relative to ASICs...
Intel’s New CEO, Reevaluating Gelsinger, Lip-Bu Tan and Cadence
Intel's new CEO casts Pat Gelsinger's tenure and firing in a new light: was Intel's problem...
Metallica on Vision Pro, Non-Immersive Immersive Video, Ping and AI
Metallica on the Vision Pro was cool, but ultimately disappointing, and symbolic of Apple's need to...
An Interview with Tailscale Co-Founder and CEO Avery Pennarun
An interview with Tailscale CEO and co-founder Avery Pennarun about Tailscale, and how he’s been learning...
OpenAI API Updates, Steelmanning the API Business, The Problem With Both
OpenAI has compelling new updates to their API that should be good for the API business;...
A Google I/O Idea, The Smartphone AI Value Chain, Apple’s Developer Hang-Ups
More on Apple and AI, this time through the lens of Google's point of integration and...
Apple AI’s Platform Pivot Potential
Apple AI is delayed, and Apple may be trying to do too much; what the company...
An Interview with Michael Nathanson About the Streaming Endgame
An interview with Michael Nathanson about the endgame for traditional media companies as the streaming wars...
Alexa+, A Brief History of Alexa, Amazon — and Apple’s — Mistake
Alexa+ looks amazing, and that's exactly my problem with it: Amazon is trying to do too...
More TSMC Fabs in the U.S., Taiwan’s Trump Card
TSMC announced new fabs in the U.S., but without dates and processes it's safe to assume...
Microsoft EOLs Skype, Skype’s Founding, Microsoft’s Skype Charity
Microsoft is pulling the plug on Skype, a service they never should have acquired and on...
An Interview with Benedict Evans About AI Unknowns
An interview with Benedict Evans about AI lessons over the last year, and the many unresolved...
More Chip Curbs?, Google LLM Status Check
Ending the chip ban might be a mistake; I just hope people pushing for more realize...
AI Promise and Chip Precariousness
The AI industry is more exciting than ever, but the chip situation is very precarious and...
The iPhone 16e; Apple Intelligence Table Stakes; Apple vs. U.K, Continued
The iPhone 16e is more expensive than the SE it replaces, but the situation is probably...
An Interview with Manna Founder and CEO Bobby Healy About Drone Delivery
An interview with Manna founder and CEO Bobby Healy about drone delivery: how does it work,...
Encryption and the Uneasy Compromise, Netflix Earnings, The Aggregator’s Compounding Advantage
More on the U.K. vs. Apple, and then Netflix's earnings demonstrate how an Aggregator's advantage compounds...
Grok-3, The Nvidia Shortcut, Competitive Implications
Grok-3 appears to be state of the art; that speaks to the power of Nvidia, and...
An Interview with Uber CEO Dara Khosrowshahi About Aggregation and Autonomy
An interview with Uber CEO Dara Khosrowshahi about taking over Uber in crisis, managing dynamic marketplaces,...
Super Bowl Ratings, Netflix to Bid on F1?, Thomson Reuters v. Ross Intelligence
The Super Bowl drew record ratings even if it wasn't a big deal on social media;...
The U.K. Demands Back Door From Apple, Elon Musk’s OpenAI Bid
The U.K. demands Apple build a back door into its products; Apple is more likely to...
Deep Research and Knowledge Value
Deep Research is an AGI product for certain narrow domains; it's ability to find anything on...
An Interview with ServiceNow Chairman and CEO Bill McDermott about Enterprise AI Agents
An interview with ServiceNow CEO Bill McDermott about his life story, leadership, and why ServiceNow is...
Google Earnings, Search Status, China Antitrust Actions
Investor disappointment in Google is overwrought, while Search is showing some positive results from AI. Then,...
Apple Earnings, OpenAI Deep Research, The Unbundling of Substantiation
I give my analysis of Apple's Earnings, and then OpenAI Deep Research does the same, demonstrating...
The De Minimis Loophole, Impact on Amazon and Meta, AI and Abundance
Trump's new tariffs take aim at the de minimis exception, which has undergirded Temu and Shein...
An Interview with Matthew Ball About the Gaming Slump
An interview with Matthew Ball about the current (bad) state of the gaming industry, including mobile,...
Microsoft Earnings, Meta Earnings
Microsoft and Meta both emphasized their optionality as models become a commodity.
Asianometry on Japan’s Chemical Dominance, Stratechery Updates, and Chinese New Year Schedule Changes
Chinese New Year wishes, and a scheduling adjustment.