The best Stratechery content from the week of January 26, 2026, including tech’s looming chip problem, what Meta is doing and why, and disappearing PLA generals and “De-Risking”.

Meta is up, despite massive CapEx plans. The company is turning every dial to drive revenue, because Mark Zuckerberg thinks winning in AI is existential.

An interview with Kalshi co-founder and CEO Tarek Mansour about the value of prediction markets. With Stratechery Plus you get access to the subscriber-only Stratechery Update and Stratechery ...

Intel’s earnings were disappointing because the company is missing a huge opportunity by virtue of selling off its capacity.

If hyperscalers and chip companies don’t build up a TSMC competitor they are set to forego billions of dollars in revenue and ...