Tencent’s profit dropped, in part because the Chinese government has stopped approving games. Plus, why Tencent’s approach to the games industry makes sense in China, even if Facebook’s model may be more attractive.
An interview with Patreon CEO Jack Conte and Memberful CEO Drew Strojny on the occasion of Patreon acquiring Memberful, the membership software used by Stratechery. This Daily Update is free for everyone.
Sonos will begin trading today, but it faces a tough road without meaningful integration. Spotify faces a difficult road too: it is interesting to think about what they would look like together (even though it won’t happen).
Apple’s earnings not only held true to form, but actually had an upside surprise in ASP. Plus, what an interview with Steve Jobs reveals about differentiation and integration.
Follow-up on Google’s EU decision, and a reminder that Google really good for consumers. Then, Google’s strong quarterly results, and why the understanding Facebook’s strategic advantages may be divorces from their stock price.
Facebook was down dramatically after its last earnings; to decide if it is justified it is worth looking at the company through many different lenses, both financial and strategic.
Netflix’s subscriber numbers were disappointing; does the company have a customer acquisition cost problem? Then again, customer acquisition costs should include content, which might not have been good enough.
Xiaomi’s IPO shows a company that has come full circle but still has a long ways to go. Then, Samsung remains reliant on components for profit, and both companies show that the Smiling Curve applies to smartphones more than ever.
Apple Maps is getting a reset; what is more encouraging is the company inviting competition. Then, Disney gets approval for its purchase of 21st Century Fox, and it raises questions about the entire process.
Amazon’s acquisition of PillPack makes a lot of sense for both companies, and it’s hard to argue that consumers won’t be the ultimate beneficiaries.