Intel’s earnings are brutal, but it is a brutal result years in the making. That mismatch between decisions and consequences probably explain why Intel continues to pay a dividend despite its need for cash.
Tech’s layoffs are popularly thought to be because of over-hiring during the pandemic, but in fact there isn’t much evidence that tech over-hired based on past rates. Then, Microsoft still has a metaverse strategy, it just doesn’t involve hardware.
An interview with The Air Current’s Jon Ostrower about Southwest’s meltdown, being an independent publisher, why there isn’t supersonic passenger flights, and building a hardware product.
Introducing the Greatest Of All Talk, a new addition to the Stratechery Plus bundle. Then, more on Twitter and Microsoft/OpenAI, plus the Financial Times covers Apple and China.
TSMC’s earnings, even when disappointing, show how strong the company’s position is. Still, there are open questions about using leading edge capacity in the future.
Twitter’s decision to kick-off third party clients is classic Musk; it also gives a signal as to Twitter’s business model focus going forward.
Follow up on AI’s impact on Google, and the weird relationship between OpenAI and Microsoft
An interview with Coinbase founder and CEO Brian Armstrong about FTX, the value (or not) of crypto, and whether or not this current downturn is different.
No one should believe anything that SBF says: the one thing we know for sure is that FTX committed fraud. Then, Sharp China covers China’s protests and the rocky path to re-opening.
Elon Musk vs. Apple has felt like an inevitability, and the battle was joined over advertising, App Store control, and 30% fees. Plus, Google’s money-making employee base is remarkably small.