AI tripled pull requests but not ideas. Parag Agrawal on paying publishers when agents skip ads, LinkedIn CPMs up 200%, and Home Depot's Six Sigma warning.

Amazon's fight with Meta's Muse is really about ads. Harvey's gross margin swung from +50% to −50% and back. And Ben Thompson on why consumers don't want to be productive.

Together AI's CPO says agents are already the majority user of their products. Plus the dead zone in Pulley's cap table, Miro selling at 2.7x revenue after a $17.5B mark, and why everyone good at product management leaves it.

96% of the tokens in an agent session are cached, and that is where the margin lives. Three teams shipped agents this month and disagree on whether users should see the thinking. Plus why disruption is gated by debt, not capability.

Bending Spoons made under 300 hires from 800,000 applications. Baylor's CIO on why velocity of capital beats returns. Dario's pacing letter read as an S-1 risk factor. Plus HubSpot's AEO ledger and why tedium was the moat.

Anthropic out-earns OpenAI for the first time. The real math behind AI TAM: $100K of tokens per engineer. Harvey ships on open weights. And the CEO running Barnes & Noble on zero marketing dollars and a policy of ignoring his own data.

Google losing Jeff Dean is correct capital allocation, not a crisis. Reviewers have stopped reading the code. Answer engines are 10x bigger than your analytics show. Plus: why real differentiation means prioritizing what customers don't care about.

Jason Lemkin: any company not run by a founder is a zero in the agentic era. Valar Atomics built a $5M part for $400K in six weeks. Only 4 of 320 ICs would choose management. Plus Kalanick on Benchmark, and Anthropic's $2-3T IPO.

Palo Alto CEO Nikesh Arora says most enterprise agents are glorified workflows. a16z metered an AI loop and found 67% of the bill bought zero improvement. Plus Shopify agentic commerce data, AI-designed viruses, and venture holding-period risk.

Airtable sold at 2.7x ARR — gross retention, not growth, set the price. SpaceX's uncollared exchange ratio turns a $60B Cursor deal into $125B. Nine Chinese models outrank America's best open model. Arena interviewed an engineer who doesn't exist.