Ben Thompson
Tech strategy & analysis
Founder of Stratechery. Writes on technology strategy, business models, and industry analysis.
Recent activity
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Google's earnings miss is similar to Facebook's in terms of aggressiveness, indicating the company is being more proactive than previously thought. This mirrors Facebook's own more aggressive approach to growth and expansion. Google's earnings report shows the company is taking a more measured approach to growth, which is a departure from its typical more conservative approach. AI summary
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The best Stratechery content from the week of October 26, 2026 including Anthropic numbers, the end of the Internet as we know it, and autocracies then and now.
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Anthropic's S-1 filing provides a detailed look at the company's financials, including a valuation of $2.5 billion, and offers insights into the competitive landscape of large language models, with implications for Meta, Muse, and other AI-focused companies. The filing also sheds light on Anthropic's approach to scaling its models and its plans for future growth. AI summary
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Palantir CTO Shyam Sankar emphasizes the AI industry's insufficient focus on "diffusion," or the process of turning intellectual advancements into economic value. He argues that companies focused on the top line (revenue growth) are more likely to adopt AI successfully, and that the industry should prioritize workflow optimization over model improvement. Sankar also stresses the need for a systems engineering approach to AI safety, citing historical examples like Admiral Rickover's design of the US nuclear Navy as models for effective risk management. AI summary
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Meta's earnings come in the context of Zuckerberg delivering on his promise; if investors believe in Muse they must support Meta's spending on compute.
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Anthropic's IPO is finally here; the core business is very profitable, but competition may eat all of the profits, even as investors are set up for endless dilution.
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The old Internet, where anyone could host a server is over, but it's just the final blow in an ending that has been coming for years. The future, though, is brighter than it appears.
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The best Stratechery content from the week of October 19, 2026, including the best iPad but worst phone, SS Sarandos in a storm, and You Can See Everything.
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Ben Thompson discusses the impending doom of the internet, Meta's unproven VR glasses, and the struggles of Netflix in his "Sharp Tech" video series. AI summary
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Craig Moffett, a prominent analyst, discusses the parallels between the dot-com bubble and the current tech landscape, warning that the rapid growth of companies like SpaceX could lead to a similar bubble. He emphasizes the importance of understanding the underlying business models and valuations of these companies. Moffett also highlights the need for investors to be cautious and not get caught up in the hype surrounding these companies. AI summary
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Stripe has become the exclusive sponsor of Stratechery, a business model that combines advertising and subscription-based revenue. This change will result in ads appearing on Stratechery's website, podcast, and email newsletters, with the goal of promoting Stripe's services and products, particularly in the AI and fintech space. Readers can still opt out of ads by becoming a subscriber, and the author, Ben Thompson, will maintain editorial independence and disclose his relationship with Stripe in relevant posts. AI summary
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Netflix has a solid business, which is exactly the problem: the company increasingly seems like a business and not a franchise, at least in terms of growth.
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Meta has released Muse Spark Open, an open-source AI model, in partnership with Apple, allowing users to run it locally on their devices, marking a significant shift in the way AI is being developed and used. This move aims to increase transparency and accessibility to AI technology, potentially changing the landscape of AI development and adoption. AI summary
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Apple has a lot of trust in terms of delivering integrated products and preserving privacy; the real trust question is if you think Siri AI will justify investing more in their ecosystem.
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The best Stratechery content from the week of October 12, 2026, including what Apple is doing, SpaceX's appetite, and the title, takes, and the Washington Wizards.
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Ari Emanuel discussed the impact of AI on entertainment and the tech industry, predicting that social networks will become more valuable, and advertising will shift towards more personalized and targeted models, potentially leading to increased revenue for platforms like Facebook and X. He also emphasized the importance of live events and human interaction in a post-AI economy, citing his company MARI as a prime example of a live events and experiences company. AI summary
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Apple has unveiled HomeView, a new Apple TV device, and the question is how big the market for expensive devices with subpar AI will be, potentially limiting the device's potential. The HomeView's AI capabilities may be seen as a step back from competitors, and its pricing may be a barrier to adoption. This could impact Apple's ability to gain market share in the streaming device market. AI summary
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SpaceX has acquired additional spectrum, potentially strengthening its mobile network strategy, and this move might disrupt traditional cellular market structures. The company's mobile ambitions are becoming clearer with this latest spectrum purchase, and it's unclear how it will impact the industry. This acquisition could be a step towards SpaceX developing a distributed cellular network. AI summary
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Stratechery offers a personal day feature, where users can pause their subscription for a day, with options to resume or cancel it. This feature is available for $0, and users can manage their subscription via the website or mobile app. Stratechery also provides a "Stratechery Passport" account, allowing users to manage multiple subscriptions and access various content. AI summary
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The best Stratechery content from the week of October 5, 2026, including drifting apart from Apple, Facebook complications, and the delightful absurdity of U.S.-China dynamics.
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