Evidence receipt / evaluation
Published · transcript-backedJohn Collison: evaluation
12 Feb 2026 Cheeky Pint Ben Thompson from Stratechery on AI ads, the end of SaaS, and the future of media
“Yes. So you've talked a lot over the years about aggregation theory and really popularized this idea where pre-internet, often power would live with the supply, whereas on the internet, because of the different marginal cost dynamics and things like that, power will rest with the demand aggregators.”
Source trail
Everything needed to verify it.
- Speaker
- John Collison
- Attribution
- Verified speaker
- Claim type
- evaluation
- Recorded
- 12 Feb 2026
- Publisher
- Cheeky Pint
Transcript context
…Yeah, it’s a beautiful skyscraper. It worked out well for Netflix. Yes. So you've talked a lot over the years about aggregation theory and really popularized this idea where pre-internet, often power would live with the supply, whereas on the internet, because of the different marginal cost dynamics and things like that, power will rest with the demand aggregators. And so Booking.com is a much bigger company than any hotel chain, something like that. And Booking.com is a particularly interesting one because they aggregate all the hotels, but they are also aggregated by Google. So they're like Google's biggest customer.…
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