S-1Independent company studies, written in decades. An art gallery of past, present, and future business strategy.

M&A, Crown Jewels, NBC The Middle Market, Focus Verticals, Consolidation The Failure of Disney+: Monetizing Content in Unique Ways Uber, Disruption and AVs Bending Spoons: A Capital Cycle Play The Struggle of OpenAI What Stripe Can Become: Broader Tech Consolidation Apple Has the Lowest Disruption Risk The Capital Cycle Theory Marketplaces, Monetization & Airbnb Why OpenRouter Could Be the Next Great Platform Nintendo, the Media Company? Xbox, Game Pass, Aggregators, and Free-to-Play Games Why Dropbox Is an Obvious PE Target Snapchat's New Business UNH: Value Trap or Chronically Undervalued? The Problem with Heuristics in Investing