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Stratechery by Ben Thompson

Microsoft's earnings were compelling because they showed a clarity of strategy, lower costs, and a tangibility of application. The reason why is scarier.
https://stratechery.com/2026/microsoft-earnings-microsoft-vs-meta-the-efficiency-payoff/

stratechery.comMicrosoft Earnings, Microsoft vs. Meta, The Efficiency Payoff – Stratechery by Ben Thompson

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