Snap’s earnings were impressive, including the most valuable AR application of all time, but the company still needs to show it can earn advertisers broadly. Then, DoorDash responds to pressure from the demand side.
Daily Update
Archive of Daily Emails for Stratechery Members
Tinder Bypasses Google Play Payments, App Store Fees and Differences, Apple Entering Modem Business?
Tinder is moving away from Google Play Store’s payment system, which makes sense given the app’s pricing power. Then, how the app store tax warps costs, and why Apple may not see much upside from getting into modems.
Microsoft Earnings, Teams Passes Slack, The Partner Advantage
Microsoft continues to crush earnings with its integrated approach. Then, Teams passed Slack, and its lead will likely widen, because it is a sustaining technology, not a disruptive one. Plus, the importance of Microsoft partners.
Libra in Congress; Global Community, Revisited; Messianic Versus Money-Making
Libra had a chilly reception at Capitol Hill, which highlighted a fundamental tension between Internet companies and lawmakers. Then, why it was inevitable that Facebook would make Libra, and why it was probably the wrong choice.
Netflix Earnings; Reasons for Concern, and Optimism; Apple Reportedly Pursuing Exclusive Podcasts
Netflix’s earnings are worrisome, but for predictable reasons; ultimately, the company remains in a strong position. Then, Apple’s rumored move into exclusive podcasts doesn’t make sense and is in fact good for Spotify.
Facebook’s FTC Fine, Apple and Microsoft’s Mistake, IBM’s Unbundling
Facebook’s FTC fine is being pilloried, but it really is large and unprecedented. Plus, why Facebook critics were asleep at the wheel. Then, Microsoft saving Apple has an analogy to IBM, and is a potential argument in favor of antitrust action.
Shopify Follow-up, Defining Definitions, OpenDoor Partners with Redfin
More on Shopify, including why I was reluctant to cover the previously, but now see the promise of the Internet in their model. Then, why I’m excited about being uncertain, and how Redfin and Opendoor’s partnership helps define the market in home-buying.
HBO Max and Friends; British Airways, Marriott Hit with GDPR Fines; Zoom’s Vulnerability
HBO Max is AT&T’s new streaming service, and it is paying a lot for Friends. Then, the best part of GDPR has its intended effect, while Zoom shows that security still isn’t a priority
Walmart’s E-Commerce Struggles, Textbook Disruption, The Benefits of Not Competing
Walmart is struggling in ecommerce for very predictable reasons; the company — and economy — is better off leveraging its assets and not competing directly with Amazon.
Netflix Loses The Office, Netflix’s Budget Consciousness, Spotify Ends Direct Uploads
It is hard to see *The Office* being a good deal for NBCUniversal, even if Netflix will miss it. Then, Netflix’s budget consciousness is just as likely to be a sign of Netflix power than it is weakness, and more reasons why Spotify isn’t Netflix.