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 ...

The best Stratechery content from the week of January 19, 2025, including Netflix questions, what TSMC means to AI, and some basketball ...

TSMC admitted that it has invested too little in the face of overwhelming demand for AI; that’s why the industry needs to ...

Mark Zuckerberg announced Meta Compute, a bet that winning in AI means winning with infrastructure; this, however, means retreating from Reality Labs.

Pity the paradox of the content producer in the age of AI. On one hand, AI is one of the greatest gifts ever in terms of topics to cover. The 2025 Stratechery Year in Review was, just like 2024 and ...

It was difficult in the beginning to answer the question I got from everyone: what’s it like living in America again? After all, I had been coming back to Wisconsin in the summer for years, and my ...

It’s funny to remember that a decade ago there were enough people convinced we were in a bubble that I felt compelled to write an Article entitled It’s Not 1999; that was right then, and it’s ...