President’s Trump plan for the U.S. to get paid by Nvidia and AMD for China exports is dubious, but overall policy is headed ...

The best Stratechery content from the week of August 4, 2025 including what Nokia can teach us about the AI era, what the NFL wants from ESPN, and how Visa conquered debit cards.

The NFL is taking equity in ESPN. It’s a great deal for Disney, driven by the NFL’s long-term concern about tech dominance.

It’s fun — and often accurate — to think of tech companies in pairs. Apple and Microsoft defined the PC market; Microsoft and Intel won it. Google and Meta dominate digital advertising; Apple and ...