Andrew Sharp

Andrew Sharp × Ben Thompson

Netflix’s engagement is 10% below targets, while 2025 and 2026 price increases of 16% and 12% make low churn an increasingly fragile defense as ad expectations fall to $2.7 billion from about $3 billion.Thompson says urgent PHP vulnerabilities and compromised certificate trust strengthen the case for agent-patrolled private enclaves, though some devices may never receive security updates.

Andrew Sharp × Ben Thompson

HomeView’s launch buried its Siri AI premise, while LG and Schneider Electric’s “no apps, no logins” integrations stress smart-home convenience.Ben Thompson sees an “uncanny valley”: users may already have better AI, as vibe coding challenges Apple’s “just works” edge.The Wall Street Journal reports SpaceX agreed to buy cellular spectrum licenses from Grain Management, its biggest wireless move yet.

Ben Thompson × Andrew Sharp

Meta’s Muse gives its portfolio a missing anchor: AI models become the number two, glasses the number three, and hardware becomes Muse delivery devices rather than standalone AR/VR.Nat Friedman’s return and a new product team underpin execution, while $1,200–$1,300 glasses and a possible holiday Tamagotchi point to a potentially winner-take-all consumer platform—only two weeks in.

Andrew Sharp × Ben Thompson

Apple has acknowledged that looser App Store rules are weighing on its $100B+ services business, alongside a proposed 15% U.S. commission and Germany’s ATT ruling.Growth has shifted attention from zero-sum App Store fights, but restrictions on Replit-like services may constrain future AI app development.Germany’s ruling is favorable but four years late, while TikTok’s possible influence over AI data-center buildouts and premature AI regulation remain risks.

Andrew Sharp × Ben Thompson

NVIDIA’s financing platform with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR pitches AI GPUs as long-lived infrastructure for patient capital.Yet A100 pricing at CoreWeave may reflect stranded air-cooled facilities, while abstraction above CUDA and potential overcapacity leave GPU economics, timing, funding air pockets and NVIDIA’s moat unresolved.

Andrew Sharp × Ben Thompson

Microsoft’s 15% one-day rally reflects a strategy to become the trusted enterprise layer between customers and frontier-model providers, rather than lead model creation.Its breadth, sales force, and customer relationships echo IBM’s 1990s playbook, but direct adoption of OpenAI or Anthropic could move faster while improving models make Microsoft’s orchestration harness a constraint.

Andrew Sharp × Ben Thompson

Meta’s clearest AI monetization path may be better advertising, not competing publicly with OpenAI: its reach, data and ad machinery already support returns without AGI.Thompson says muddled messaging around Llama 4, Muse-Spark-1.1 and Zuckerberg’s frontier ambitions risks repeating hardware and metaverse detours instead of compounding Meta’s consumer advantage.

Andrew Sharp × Ben Thompson

Apple’s mid-cycle Mac price increases suggest it missed the memory shock in both procurement and pricing, while delayed Siri may arrive in 2026 with 2024-era capabilities.As major suppliers prioritize HBM, DRAM scarcity could let Chinese producers climb the learning curve profitably, with export controls potentially accelerating that competition.Vibe coding makes highly bespoke software viable: an AI assistant catalogs household objects, recognizes roughly 95% from photos, and links them to locations through QR codes.

Andrew Sharp × Ben Thompson

AWS’s 28% growth and expanding margins reinforce its cost-led cloud strategy, combining custom silicon, service breadth and lock-in to turn infrastructure efficiency into pricing power.Large-scale training still favors NVIDIA’s tightly connected data-center architecture, but cheaper, more efficiently utilized inference could make Trainium and AWS’s commodity economics a stronger AI catalyst.

Andrew Sharp × Ben Thompson

OpenAI’s reported reset toward coding and business users is a correction toward the market most willing to pay for productivity, not necessarily an abandonment of consumers.Anthropic’s apparent run-rate jump “from $14 billion in January to $19 billion” creates a 12-to-24-month urgency, though private figures and Ramp data may overstate its enterprise lead while compute remains OpenAI’s advantage.