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Oct 7, 2026
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11 min read
DoorDash handled $102 billion of orders last year and kept about 13 cents of every dollar. What it does with that slice explains the whole company.
Aug 30, 2026
Intel's chip business earns billions. Its factories lose even more, and now the US government, Nvidia, and SoftBank are helping pay for them.
Aug 2, 2026
13 min read
The company everyone knows for PlayStation earns its best margins on songs and camera chips.
Jul 12, 2026
A licensing-heavy audio platform is turning rented music, algorithmic placement, and pricing power into a margin expansion story.
12 min read
Instead of monetizing attention, Anthropic is betting that businesses will pay for reliable reasoning, scalable automation, and AI that can do real work.
14 min read
A chat app that scaled to more than 200 million monthly active users and an estimated $879 million in annual revenue, now with a maturing advertising business alongside its fan-funded model.
An ad marketplace that captures and sells online attention, driving billions for Google each year.
Regulation defines it as finance, but revenue concentration tells a different story about where demand really comes from.
A BNPL pioneer quietly transforming into a global fintech platform powering over $100 billion in payments.
A content empire is making its endgame moves by turning scale into profit through ads, price ladders, and stricter access.
10 min read
What began as a graphics chip company now captures a disproportionate share of profits from the global AI build-out.
By subsidizing intelligence for 900 million free users, OpenAI created unprecedented demand it still can't afford to serve.
9 min read
What began as counterterrorism software now drives growth across Wall Street, pharma, and defense.
Its take rate keeps falling, but PayPal’s scale and 439 million users still anchor global digital commerce.
The prediction exchange betting its future on a token that will turn global trading volume into a sustainable profit engine.
A fintech platform capturing billions by routing trades and pocketing interest on idle cash.
From launching rockets to selling internet, SpaceX has built a self-funding machine powering humanity’s next great leap.
By subsidizing prices, shipping, and demand at historic scale, Temu is trying to lock in behavior first and negotiate margins later.
A secondhand fashion marketplace is quietly turning buyer fees into one of Europe’s most profitable ecommerce models.
The world's most popular messaging app barely makes money, yet it's quietly becoming one of Meta's most strategic bets.
Anduril's bet is industrial, not just technological: price autonomous weapons cheap, build them on production lines by the thousand, and let scale beat the primes' bespoke model.
Jun 21, 2026
Uber made $52 billion without owning a single car. The next chapter is making money without needing a driver.
Apr 12, 2026
Seven revenue streams, one flywheel, and a retail business that barely breaks even on purpose.
Mar 15, 2026
A short-form video app turning cultural dominance into billions in revenue and building one of the internet’s most sophisticated monetization machines.
Feb 15, 2026
What began as “the front page of the internet” is becoming infrastructure for advertisers and LLMs.
