WHAT COMES AFTER MATURITY? “Many major tech companies, I’m arguing, are now past mature, but finding a name for the state of play is less clear-cut. The biggest change is that tech is now a major aspect of geopolitics, with a raft of consequences starting to flow from that status.”

Plus: “In answer to the question posed by the newsletter’s title — ‘what comes after maturity?’ — the answer most certainly is ‘regulation.’ The next few years will be most interesting as the tech sector on most every continent will face state scrutiny, litigation, legislation, and taxation. That idealized garage startup is a distant memory.”