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.

With Stratechery Plus you get access to the subscriber-only Stratechery Update and Stratechery Interviews, and the Sharp Tech ...

When paradigms change, previous winners have the hardest time adjusting; that is why AI might be a challenge for Apple and Amazon ...

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.

Figma is well-placed to succeed in an AI world, because they are an operating system. However, they need to move quickly to capitalize, and that explains why they are going public.

Figma is well-placed to succeed in an AI world, because they are an operating system. However, they need to move quickly to capitalize, and that explains why they are going public.

Figma is well-placed to succeed in an AI world, because they are an operating system. However, they need to move quickly to capitalize, and that explains why they are going public. Apple’s WWDC was a ...

Figma is well-placed to succeed in an AI world, because they are an operating system. However, they need to move quickly to capitalize, and that explains why they are going public.

The best Stratechery content from the week of July 28, 2025, including how to think about Figma, the future of the U.S.