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Stratechery · October 23, 2026 · 01:38:03

Netflix Angst, The End of the Internet, Q&A on Meta’s VR Glasses, Anthropic Alignment, You Can See Everything

Ben Thompson and Andrew Sharp discuss Netflix's growth challenges, whether it's a fragile franchise or a durable business, Elon Musk's investment in Skydance, Anthropic's discovery that the NSA's ECDSA curve was not backdoored, a wave of cybersecurity warnings including AI agents accessing bank accounts, and hands-on impressions of Meta's VR glasses. They also explore Anthropic's branding and AI alignment, Apple's persistence with the Siri name, and how reading speed could limit AI training. The conversation ends with lighter topics like olive oil and Andrew's changed mind on a Nathan Fielder film.

This summary was generated from show notes and public descriptions, not from a full transcript review. Details may contain inaccuracies.

Preview

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Netflix’s Growth Problem: Business or Franchise?
Ben and Andrew analyze Netflix's recent earnings and a wave of underwhelming original releases, questioning whether the company is a durable business with competitive advantages or a hit-dependent franchise.
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Anthropic’s Claude Solves NSA Cryptographic Mystery
Anthropic’s AI model analyzed the P‑256 elliptic curve used in ECDSA and showed the NSA did not embed a backdoor; the curve’s constants were generated arbitrarily rather than being planned for espionage.

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