An interview with MoffettNathanson’s Michael Nathanson about Netflix’s acquisition of Warner Bros. and the Hollywood end game ...

Netflix is driving the Hollywood end game, likely confident it can increase the value of IP, and fend off YouTube.

The best Stratechery content from the week of December 1, 2025, including what the Times missed in its David Sacks story, Atlassian’s history and near future, and Code Red at OpenAI.

AWS re:Invent sought to present AI solutions in the spirit of AWS’ original impact on startups; the real targets may be the startups from that era, not the current one. OpenAI is declaring code red ...

AWS re:Invent sought to present AI solutions in the spirit of AWS’ original impact on startups; the real targets may be the startups from that era, not the current one. With Stratechery Plus you get ...

OpenAI is declaring code red and doubling down on ChatGPT, highlighting the company’s bear case. Then, AWS makes it easier to run AI workloads on other clouds. Subscribe to Stratechery Plus for full ...

A common explanation as to why Star Wars was such a hit, and continues to resonate nearly half a century on from its release, is that it is a nearly perfect representation of the hero’s journey. You ...

Nvidia earnings are the wrong place to look for evidence of an AI bubble; the company’s margins should be safe if power is the limiting factor. Subscribe to Stratechery Plus for full access. With ...

Welcome back to This Week in Stratechery! As a reminder, each week, every Friday, we’re sending out this overview of content in the Stratechery bundle; highlighted links are free for everyone.

An interview with Eric Seufert about the right advertising model for AI, the right AI for Meta, and why personalized advertising is good for society. Subscribe to Stratechery Plus for full access.

Gemini 3 is out, and looks to be state of the art. What does that mean for everyone else in the AI space, and what markets might Google win? Subscribe to Stratechery Plus for full access. With ...