Netflix’s growth will depend on advertising; then, more evidence that Netflix was uniquely responsible for KPop Demon Hunters ...

The best Stratechery content from the week of October 20, 2025, including the cost of resiliency, F1 makes it official with Apple, and a new era for NBA broadcasting.

Decreasing transportation and communications costs increases resiliency in theory, but destroys it in practice. The only way to have resiliency is through less efficiency.

F1 is officially on Apple TV, and it’s both a worthwhile gamble on Apple’s distribution being a differentiator.