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.

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.

Sharp Tech is, for the first time, available on video. You have two ways to consume it: YouTube, and here on Stratechery ...

An interview with Craig Moffett about SpaceX, from launch to broadband to mobile, plus how he is applying the lessons of the dot-com bubble to today. Subscribe to Stratechery Plus for full access.

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. Netflix has a solid business, which is exactly ...

The Apple Homeview is official, and the question is how big is the addressable market for expensive devices based on subpar AI. Subscribe to Stratechery Plus for full access. With Stratechery Plus you ...

SpaceX’s mobile strategy is becoming clearly with its latest spectrum purchase, and it might work. Subscribe to Stratechery Plus for full access. With Stratechery Plus you get access to the subscriber ...

An interview with former Facebook Head of Global Elections Katie Harbath about her new book Disrupting Politics, and how things change for the company in the 2010s. Subscribe to Stratechery Plus for ...

Apple is taking a smarter approach to the home than I expected, leaning into integration (with partners); then, what Amazon should do about agents. With Stratechery Plus you get access to the ...

Games are being decompiled, but the real risk to gaming is new games and increased personalization. Subscribe to Stratechery Plus for full access. With Stratechery Plus you get access to the ...

My computer got hacked, which is always embarrassing to admit, because it was my fault; the vulnerability that was exploited is detailed in this Ars Technica story: Dutch officials have warned that a ...