underscored — Underscored

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Tag:platform-strategyClear

stratechery.com

2026.28: XBOX On the Rocks

the Game Pass initiative that was the last great hope for XBOX has been a failure. I'm not a gamer, but Ben's rendering of the XBOX story — and the Game Pass story — is a great case study of both internet economics and management mistakes (and analyst ones!).
— Ben Thompson

5d ago

stratechery.com

A Script for Mark Zuckerberg

Building a platform is antithetical to building an ad business. A platform's goal is to feature third-parties; an advertiser's goal is to capture attention for itself. Investing in an entirely new technology, including developing hardware, fundamentally limits our addressable market; an advertiser's goal is to maximize its market size.

1w ago

stratechery.com

2026.11: Winners, Losers, and the Unknown

However, the most recent evidence — particularly Copilot Cowork — is that the companies who are best able to harness (pun intended) model capabilities are the model makers themselves.

4mo ago

Underscored — save the words that stop you in your tracks.

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