Microsoft Earnings, Azure’s Slowdown, Office Strikes Back

Microsoft’s earnings were down: the news about PCs was encouraging, while Azure unsurprisingly felt the pain later than AWS. Anyone competing with Office 365, though, is in worse shape.

Intel Earnings, Intel’s Plunging Margin, The Dividend Question

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 Layoffs, Big Tech’s Hiring Rates, Microsoft’s VR Layoffs

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.

Twitter Timelines, Azure and OpenAI, Apple and China

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.

Zero-COVID and Free Speech

Zero-COVID is possible, but few of us in the West are willing to pay the costs; the exact same reasoning applies to free speech; in both cases China-lite is the worst possible strategy.