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102 analyses · Business ModelThe Money Machine
Nintendo Built the Weakest Console of Its Generation. It Just Became the Fastest-Selling in History.
Nintendo
Robinhood's $1.11B in Interest Income Makes Falling Rates Its Biggest Risk
Robinhood
Subscription Fatigue Is Two Stories Fused Into One — Only One Is a Crisis
The Subscription Economy
Amazon Revealed the $31B Ad Business Hiding Inside the Store — and 200+ Networks Followed
Retail Media
Snap's Ad Drag Sits in the Wrong Half of the Funnel and the Wrong Half of the World
Snap
WhatsApp Already Runs a B2B Toll Booth: Paid Messaging Past $3 Billion, Growing 59% a Year
Meta
Meta Sells Attention — $164.5 Billion of It, at Margins That Absorb an $80 Billion Metaverse
Meta
TSMC's 69.9% Share Rests on a 1987 Promise: Every Customer's R&D Becomes a Switching Cost
TSMC
Broadcom's Machine: Buy the Monopoly, Cut to the Bone, Reprice the Captive Customers
Broadcom
Home Depot Stacked RDCs, an MRO Distributor, and an $18.25B Arm on the Same Pro Customer
Home Depot
Trader Joe's Runs Private Label at Low-20s Margins and Hands the Difference to Shoppers
Trader Joe's
Dollar General's Operating Profit Fell 26.5%, Then Another 29.9% — From Inside the Model
Dollar General
WeWork's S-1 Ledger: $47 Billion in Lease Obligations, $4 Billion in Committed Revenue
WeWork
Bloomberg's $31,980 Terminal Is the Business; the Journalism Is Its Brand Insurance
Bloomberg
Vice's $5.7 Billion Valuation Rested on an Audience That Belonged to Other Websites
Vice Media
The NYT Bundle Trades Price for Lock-In — ARPU Fell 6.7% as Cheap Subscribers Flooded In
New York Times
Federal Court Says MoviePass Knew Its $9.95 Math Was a Lie and Used It to Pump a Stock
MoviePass
BuzzFeed Built Its Business on Borrowed Reach — Then Facebook Turned the Dial
BuzzFeed
Siemens Put Roughly $18 Billion Into Software to Escape Hardware's Boom-Bust Cycle
Siemens
ServiceNow's Money Machine Is a $22.3B Backlog That Renews at Near-100% in Federal
ServiceNow
Vanguard Deleted 'At Cost' From Its Filings in 2018 — The Fee Ratchet Still Turns One Way
Vanguard
Vice Was Valued at $6 Billion; Its Buyers Wanted Only the Agency and the Studio
Vice Media
Instruments Are About 17% of Thermo Fisher's Revenue; Reagents at 36% Margins Are the Engine
Thermo Fisher
Roughly 82% of Dollar General's Sales Are the Lure — The Candle Is the Profit
Dollar General
Google's Own 10-K Says It: More Than 75% of $350B Rides on Ads Sold Against Your Intent
Alphabet (Google)
Salesforce Invented the Marketing of SaaS — a 'No Software' Crusade on the Way to $41.5B
Salesforce
Amazon's $56.21B Ad Line Charges the Same Sellers Twice for Nearly Free Shelf Space
Amazon
Apple Services: A 74%-Margin Business That Grows Only When Hardware Sells
Apple
Palantir Turned 75 Army Contracts Into One $10 Billion Deal — the S-1 Named the Play
Palantir
Google Still Ran 90% of Searches in 2025 — the Real Threat Wears a Black Robe
Alphabet (Google)
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