The clarifications of the China Chip Ban were in-line with expectations, and Nvidia’s workaround is similarly unsurprising. China’s means of retaliation, though, may hit Intel.
Daily Update
Archive of Daily Emails for Stratechery Members
Spotify Earnings, Spotify Exclusives, Spotify vs. Apple
Spotify’s earnings were solid, although I am more skeptical of its podcast exclusive strategy than ever. Plus, Apple continues to act anti-competitively, this time in e-books.
Two Apple Items, Twitter Cash Flow, Twitter Versus Advertisers
Two Apple updates about ATT and China, then, more on Twitter’s cash flow situation, and Elon Musk discovers that freedom is often structural
An Interview with Eugene Wei About Streaming and Social Media
An interview with Eugene Wei about streaming and social media, including Netflix, TikTok, Twitter, and why the first wave of social networks were a fundamental mismatch with human nature.
Musk’s Twitter Blue; A Twitter Subscription, Revisited; Apple Earnings
Elon Musk’s Twitter Blue proposal seems reasonable, and the company is not in as dire financial straits as reported. Then, revisiting the idea of a Twitter business model pivot, and why Apple’s services revenue is so impressive.
Meta AI Infrastructure Spend, Microsoft and Amazon Earnings, Paying the Promise of Cloud Computing
Does AI spend build a moat, or is it a commodity? Then, Microsoft and Amazon deliver on the promise of cloud computing, even if it is costly.
Announcing Sharp China With Sinocism’s Bill Bishop
Announcing a new podcast for Stratechery Plus subscribers: Sharp China With Sinocism’s Bill Bishop.
An Interview with Dan Wang About the China Chip Ban
An Interview with Dan Wang about the China chip ban, the Party Congress, and China and his views of China have changed over time.
Google Earnings, Gaming’s Warning Light, Google’s Costs
Google’s results seemed bad, but while there are concerns for both revenue and costs, the business is still in good shape.
Snap Earnings, What Spiegel Wouldn’t Say, Snap’s Direct Sales Reset
Snap’s earnings were bad, and even worse when you dig into the details. It appears the company is back to the basics of ad selling (and that’s not great for Elon Musk).