Stratechery Weekly Roundup on Apple, Politics and China
Stratechery's weekly digest highlights pieces on Apple's AI-era walled garden, an interview with former Facebook election head Katie Harbath, and U.S.-China trade dynamics.
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Damodaran Examines How AI Capital Spending Distorts Financial Statements
Aswath Damodaran links to a blog post analyzing how trillions in AI capital expenditure affect book capital, earnings and cash flows across company financial statements. He argues the spending is distorting market valuation metrics.
Original post · 1 min read
As companies have invested trillions into AI cap ex, driven by the hope of riches, it is not just markets that have been roiled. I look at how the spending has percolated through financial statements distorting book capital, earnings and cash flows. aswathdamodaran.blogspot.com/2026/10/stock-pri…
aswathdamodaran.blogspot.comStock Prices, Earnings and Cashflows: The AI Effect plays through!A blog about markets, finance and all things money related.♥ 1.9K · ⟲ 284 · 👁 390.5KView on X ↗
Musk Questions India's Delay in Granting Starlink License
Elon Musk says Starlink is licensed in more than 165 countries and has complied with Indian requirements for five years, asking why it still lacks a license. He suggests Mukesh Ambani has outsized influence over the government, quoting a post alleging crony capitalism.
Original post · 1 min read
Starlink is licensed in over 165 countries and has spent five years complying with every single law and requirement of the government of India, so why still no license?
Is Ambani the real boss of India?
Is Ambani the real boss of India?
Dr Aniruddha Malpani, MD @malpaniThe government is more interested in protecting the interests of crony capitalists than of citizens twitter.com/TheBigGeek/status/2108062331095908…
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Uber Partners With Adani Airports on AI and Autonomous Vehicles
Uber CEO Dara Khosrowshahi says he hosted Adani Group leaders Gautam and Jeet Adani at Uber. He notes Uber's partnership with seven Adani airports, including Navi Mumbai, and says the parties discussed AI, autonomous vehicles and the airport experience in India.
Original post · 1 min read
Great to host @gautam_adani, @jeet_adani1 from @AdaniOnline at @Uber. We’re partnered at 7 Adani airports, incl Navi Mumbai, that handle a quarter of India's air traffic. We talked about what’s next: AI, AVs + an even better airport experience for travelers across India, one of the world’s most exciting markets.
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Vishal Misra Examines India's Open Internet and Jio's Role
Vishal Misra argues that India has some of the world's cheapest mobile data and near-universal 4G coverage, crediting Jio, and that India chose the whole internet over a walled garden. He links to a Medium essay drawing on Dr. RS Sharma's account of the Free Basics decision.
Original post · 1 min read
India has some of the world’s cheapest mobile data, impressive bandwidth and near-universal 4G (~99.1% population) coverage. “Prime Minister Ambani” and Jio helped make it happen. But the real story is India chose the whole internet, not a walled garden.
medium.com/@vishalmisra/india-chose-the-whole-…
medium.comIndia chose the whole InternetIndia chose the whole Internet Dr. RS Sharma, who chaired the Telecom Regulatory Authority of India from August 2015 to September 2020, has published his accounmedium.com/@vishalmisra/india-chose-the-whole-…
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Indian Stock Market Adds ₹18 Lakh Crore in Single Day
Patterns reports that the Indian stock market added ₹18 lakh crore in a single day, its biggest one-day gain in at least five years. The post includes a photo.
Original post · 1 min read
BREAKING: 🇮🇳 Indian stock market adds ₹18 lakh crore Today
Biggest single-day gain in at least 5 years
Biggest single-day gain in at least 5 years
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Indian Stocks Surge After H-1B Announcement, IT Firms Lead
JM US argues that the Indian stock market gained close to $200 billion after the H-1B announcement, with most gains in Indian IT firms. He contends restricting H-1B visas benefits India and that talent shortages push American firms to offshore work.
Original post · 1 min read
Indian stock market added close to $200 billion dollars today after the H1B announcement. Most gains came from Indian IT firms.
Here's what MAGA doesn't understand;
H1B = America wins. No H1B = India wins.
The US economy is so massive that the 70,000 American citizens that graduate in IT each year are not enough to support the booming IT sector and the talent required to win the AI race against China.
If American tech companies can't hire talent in the US, they off shore it. Because there simply isn't enough talent. Nothing to do with Americans being "dumb". Americans are some of the smartest people in the world. It's everything to do with how massive the economy is.
What America loses with no H1B is an individual living in the US and paying taxes. Now employees hired in India will pay taxes in India.
Here's what MAGA doesn't understand;
H1B = America wins. No H1B = India wins.
The US economy is so massive that the 70,000 American citizens that graduate in IT each year are not enough to support the booming IT sector and the talent required to win the AI race against China.
If American tech companies can't hire talent in the US, they off shore it. Because there simply isn't enough talent. Nothing to do with Americans being "dumb". Americans are some of the smartest people in the world. It's everything to do with how massive the economy is.
What America loses with no H1B is an individual living in the US and paying taxes. Now employees hired in India will pay taxes in India.
Patterns @Patterns0001BREAKING: 🇮🇳 Indian stock market adds ₹18 lakh crore Today
Biggest single-day gain in at least 5 years
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