The Value Chain Constraint

Companies succeed or fail not based on technology but rather according to their ability to integrate within their value chains.

Apple Earnings, Apple the Services Company (for Real!)

Apple’s earnings were definitely weak in China, but the rest of the world wasn’t great either. No wonder the company is pivoting so strongly into services — and there is upside.

The BuzzFeed Lesson

The lesson of BuzzFeed is that dominant Aggregators like Facebook have no incentive to act against their self interest and support suppliers.