Stratechery by Ben Thompson
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On the business, strategy, and impact of technology.
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2025.31: How to Think About Figma
The best Stratechery content from the week of July 28, 2025, including how to think about Figma, the future of the U.S. semiconductor supply chain, and whether Trump is softening...
Figma S-1, The Figma OS, Figma’s AI Potential
Figma is well-placed to succeed in an AI world, because they are an operating system. However, they need to move quickly to capitalize, and that explains why they are going...
Tesla and Samsung, Customer Service and Intel, The U.S. Semi Supply Chain
Tesla is making future chips with Samsung, likely cementing the Korean company as the industry's second supplier.
TSMC Earnings; A16 and TSMC’s Approach to Backside Power; Intel Earnings, Architecture, and AI
TSMC and Intel's approach to backside power are downstream of their cultures: customer-centric versus self-serving. It may doom the latter.
2025.30: Rumors of Google’s Demise…
The best Stratechery content from the week of July 21, 2025, including exaggerated rumors of Google's demise, content and community, and computers as entertainment machines.
Google Earnings, Google Flips the Switch on Cloud, Search Notes
Google doubles down on AI in the cloud
Netflix Earnings, Apple and F1
Netflix advertising will change the service; then, F1 might be headed to Apple TV, and it might work.
Content and Community
The old model for content sprung from geographic communities; the new model for content is to be the organizing principle for virtual communities.
2025.29: What It Takes to Change the Web
The best Stratechery content from the week of July 14, 2025, including the economic future of the web, Greatest of All Talk in Las Vegas, and how we cool computers.
Cloudflare’s Content Independence Day, Google’s Advantage, Monetizing AI
Cloudflare is unilaterally blocking AI crawlers unless they are willing to pay
Cognition Buys Windsurf, Nvidia Can Sell to China, Grok 4 and Kimi
Cognition rescues Windsurf, Nvidia can sell H20s to China, and Grok 4 and Kimi K2 point to future avenues of model improvement
Google and Windsurf, Stinky Deals, Chesterton’s Fence and the Silicon Valley Ecosystem
Windsurf's founders and IP are going to Google in the latest stinky deal that is downstream of regulator's recklessly messing the startup ecosystem.
2025.28: Tech Philosophy and AI Strategy
The best Stratechery content from the week of July 7, 2025, including who invests and why, Apple's search for an AI partner, and if Xi Jinxping is on his way...
Apple + Anthropic?, Apple’s Fall, Apple’s Options
Apple is considering partnering with foundation model providers to replace Siri; the choice of which is profound.
Tech Philosophy and AI Opportunity
Positioning AI contenders — and losers — by their tech philosophy and business potential.
Training AI is Not Fair Use?, LLMs and Scale, Pushing on a String
Meta won another fair use case, even though the judge wanted to rule against LLMs; he'll have a hard time doing so.
Summer Break: Week of June 30
Stratechery is on summer break the week of June 30. There will be no Weekly Article or Updates. The next Update will be on Monday, July 7. Dithering, Sharp Tech,...
2025.26: Two Years Into a New Era for Big Tech
The best Stratechery content from the week of June 23, 2025, including AI and the Big Five, a compelling ruling on LLMs and the Fair Use Doctrine, and NBA salaries...
An Interview with Sierra Founder and CEO Bret Taylor About AI Agents and Tech History Lessons
An interview with Sierra founder and CEO Bret Taylor about his career in tech and the future of AI.
Training AI is Fair Use, Product Protection Versus LLM Liability, Piracy and Competition
The first big AI copyright decision has come down, and it's a big win for AI. It also provides a blueprint for how Congress can do more.