Every analysis we've published.

The American Company That Got Bought by Its Own Licensee

Macy's Keeps Saying No to a Breakup. The Last Time It Said Yes, the Math Was a Mirage.

Best Buy Could Install the Hospital in Your Home. It Couldn't Get the Hospital to Pay.

Kroger's $30 Billion Side Hustle Has a Hole You Could Drive a Truck Through

Home Depot Never Planned to Saturate Anything. The Density Was an Accident.

Nvidia Didn't Pivot to AI. It Spent a Decade Paying for a Bet Nobody Wanted.

TSMC's $165 Billion Arizona Bet Was Never About Cheaper Chips. It Was About a Tariff It Couldn't Argue With.

Google Didn't Expand to Conquer. It Expanded to Protect the Search Box.

Google Built the Cloud First and Still Lost a Decade. The Reason Wasn't Technical.

Samsung Sells You a Phone, Insures Your Life, and Built Your Apartment. One Family Holds It All by a Thread.

Apple Didn't Win on Beloved Hardware. It Won by Making You Pay to Leave.

HP Spent 76 Years Chasing the Next Business. The Split Was an Admission It Caught Too Many.

Activision Didn't Milk Two Franchises. It Bet the Whole Company on Them.

Nintendo's IP Vault Finally Opened. The Money Mostly Walked Out the Same Door.

Baidu Is Racing Out of a Burning Building. The Question Is Whether It Built the New One First.

Tencent's 'Investment Empire' Isn't a Strategy. It's a Portfolio Pretending to Be One.

Sony Didn't Pivot to Entertainment. It Survived Its Own Strategy for 30 Years.

Sony Stopped Selling Consoles to Sell Feelings. The Flywheel Hasn't Caught.

Amazon Didn't Plan to Sell Cloud Computing. It Got Good at Plumbing and Noticed.

Amazon Tried to Build Healthcare Twice. Then It Started Writing Checks.

TikTok Didn't Crack the US. It Bought the Door and Walked Through It.

IBM Placed Three Big Bets. One Paid, One Got Buried, One Is Still Unsettled.

IBM Paid a 63% Premium for Red Hat. It Wasn't Buying Growth — It Was Buying Relevance.

Intuit Bought $19 Billion of Adjacency. The Headline Prices Were Both Wrong.

Microsoft Didn't Buy a Social Network for $26 Billion. It Bought the One List It Couldn't Build.

Game Pass Won the Revenue Bet and Lost the One That Mattered

Oracle Didn't Win the Cloud. It Already Owned the Customers Who Had to Move There.

Oracle Didn't Buy TikTok. It Bought a Customer It Could Never Lose.

The Surface Never Made Microsoft a Hardware Company. It Made a $900 Million Argument to One.

The iPod Wasn't a Music Player. It Was Apple's Way Onto a Billion Windows PCs.