Welcome back to This Week in Stratechery!

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On that note, here were a few of our favorites this week.

1. The End of the Tim Cook Era. My son, who is old enough to be on a multi-day school trip to Washington D.C., messaged me in shock that Tim Cook would be stepping down as CEO of Apple this September: that, more than anything, made me realize just how long we have been in the Tim Cook era. He was Apple’s CEO longer than my son has been alive, and a year longer than Steve Jobs. That, needless to say, is worth reflection. — Ben Thompson
   • On Stratechery, I wrote about Cook’s Impeccable Timing and, in an Update, why John Ternus makes sense as the next CEO
   • On Sharp Text, Andrew wrote a fantastic reflection on how Cook’s competence was both correct and boring, and representative of the overall maturation of the tech industry.
   • On Dithering, John and I published our instant reactions on Tuesday, and additional reflections on Friday.
     

2. Can Cursor and SpaceX Join the Model Wars? When I first heard the news that SpaceX was partnering with Cursor (with an option to buy Cursor outright for $60 billion), my first reaction was to throw up my hands at the logic and broader plan. Forget it Jake, it’s Elontown, etc. That noted, I loved it when Ben’s Daily Update on Wednesday explained why, in theory, there is an obvious synergy between Cursor and SpaceX. Furthermore, I’m reminded that more AI competition would be a good thing, and for that reason alone I’m rooting for a deal like this to work. We went deeper on the topic during the second segment of Friday’s Sharp Tech, including bear and bull cases, and an attempt to nail down SpaceX’s core business as the company prepares to IPO and seeks a $1.75 trillion valuation. — Andrew Sharp
   
   
3. The Various Fronts of Cold War 2.0. Most of our shows cover lots of ground, but this week’s episode of Sharp China was especially dense with updates and takes. The big news is that Xi is now publicly calling for the re-opening of the Strait of Hormuz, while several reports indicate China may be providing weapons to the IRGC in the interim. Elsewhere, Beijing passed new laws to crack down on decoupling (Bill says these laws have interested parties “freaked out”), while the U.S. is considering legislation that would close global loopholes on the sale of advanced semiconductor manufacturing equipment to China. My favorite part, though, was a segment on a cake controversy, a physical altercation between Pinduoduo staff and Shanghai regulators, and Xinhua reporting that provides a fascinating look at how the Chinese economy works in 2026. — AS

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Stratechery Articles and Updates

• TSMC Earnings, New N3 Fabs, The Nvidia Ramp — TSMC’s earnings suggest that the company’s leadership is not truly bought into the AI growth story.
• Tim Cook’s Impeccable Timing — Tim Cook had an extraordinary run — and impeccable timing, both in terms of when he became CEO, and when he is stepping down.
• John Ternus and Apple’s Hardware-Defined Future, SpaceXAI and Cursor — The elevation of John Ternus suggests that Apple’s future is about hardware differentiation; then, the SpaceX-Cursor deal makes a lot of sense.
• An Interview with Google Cloud CEO Thomas Kurian About the Agentic Moment — An interview with Google Cloud CEO Thomas Kurian about Google’s cloud priorities, enterprise agent platform, and Google’s integration advantage.

Sharp Text by Andrew Sharp

• Tim Cook Personified Big Tech’s Maturity — For better and worse, Tim Cook’s Apple epitomized an era in which big tech companies grew up, took fewer risks, and took over the world.

Dithering with Ben Thompson and Daring Fireball’s John Gruber

• Tim Cook Steps Down
• How Tim Cook Changed Apple

Asianometry with Jon Yu

• Itanium: Intel’s Great Successor
• South Korea Defied the Gods to Build its Steel Colossus

Sharp China with Andrew Sharp and Sinocism’s Bill Bishop

• Xi Wants the Strait of Hormuz Re-Opened; Cakes and An E-Commerce Crackdown; The Next Stage of Decoupling; The MATCH Act in Congress

Greatest of All Talk with Andrew Sharp and Ben Golliver

• Play-In Chaos and Knueppel Slippage, Anyone But the Thunder, Title Picks and Awards Resolution
• Panic Rankings: Pistons Picking Up the Pieces, Rockets on the Ropes, Blazers Pinching Pennies, and More from the NBA Playoffs

Sharp Tech with Andrew Sharp and Ben Thompson

• Tim Cook’s Exit and What Comes Next, A SpaceX Deal with Cursor, Q&A on Vibe Coding, TSMC, WhatsApp

This week’s Stratechery video is on Mythos, Muse, and the Opportunity Cost of Compute.