The Web's Bot Walls
Brian Donohue@bthdonohue
−7.2%
since Oct 9
The idea
I believe the open web is being gated behind bot walls, and whoever runs the toll booth gets paid no matter how publishers monetize, through ads or subscriptions. So I own the edge networks and bot-defense specialists that classify and charge bot traffic, with the big clouds as steadier ballast since they run their own version inside. I capped the most obvious, crowded name below where conviction alone would put it and lean on the cheaper ways to own the same shift, keeping some cash for swings in the smaller names. I would rethink this if publishers settle on open access over gating.
What it owns
- These networks sit between millions of websites and the internet, so they control which bots reach pages and which ones pay to access them. · Cloudflare, Inc.It sits in front of millions of ad-supported pages and blocks AI training bots by default, collecting payment when bots choose to access content instead., Akamai Technologies, Inc.It powers bot controls for major publishers and enterprises through partnerships that let sites charge bots for access rather than just blocking them., Fastly, Inc.It provides bot management tools that let publishers control how bots access their pages, turning scraping from an unavoidable cost into a gated service.41%
- The major cloud providers run their own bot defenses for the sites they host, giving them steady revenue from gating trends without depending entirely on them. · Amazon.com, Inc.AWS includes bot controls in its firewall and content delivery service, so it captures gating revenue from the massive number of sites it hosts., Alphabet Inc.Cloud Armor provides bot defenses for sites running on Google Cloud, generating security revenue as publishers adopt controls on the platform., Microsoft CorporationAzure offers edge and firewall services that include bot management, so it collects from sites using its platform to gate or charge bots.30%
- Sites need to know what traffic is human and what is a bot before they can charge or block it, so these companies sell the classification tools that gatekeepers depend on. · F5, Inc.It classifies traffic as human or bot at company websites and apps, offering bot defense to businesses outside the major edge networks., Radware Ltd.Its Bot Manager classifies traffic as human, good bot or scraper, filling the classification role that becomes more valuable as sites add gates.19%
- Cash10%