Feeds Eat Cheap Content
seansalmon 馃し鈾傦笍@seanaes
+2.7%
since Sep 30
The idea
I believe AI is making content and software cheap to produce, so the real value shifts to whoever owns the attention and distribution around it, not the raw creation itself. This basket leans into feeds, streaming platforms, and interactive worlds that absorb that flood of cheap content and turn it into engagement and ad revenue, plus the ad rails behind them and a survivor bet on the dominant search and distribution player.
What it owns
- Platforms that own the scroll monetize the attention flowing through their feeds, and cheaper AI-made content becomes free raw material to keep people engaged. 路 Meta PlatformsIt owns the largest feeds on earth and already uses AI-made content to keep people scrolling and to build ads themselves, making it the purest play on attention pooling at platforms while creation gets cheaper., AlphabetSearch and YouTube control where people begin their online sessions, making them central to how demand flows through the web regardless of whether answers come from traditional links or AI systems., RedditWhen AI floods the web with cheap content, a place known for real human answers becomes more valuable, not less, as both people and AI models treat it as the source of trusted information., PinterestIt owns a discovery feed where cheaper AI-made images are raw material, not a threat, since the platform monetizes the browsing session and converts attention into shopping and ad dollars.34%
- Video and audio streamers keep audiences locked in while AI pushes down what they pay for content, letting the distributor capture the savings. 路 NetflixIt owns the streaming session in the living room, so when AI cuts what shows and films cost to make, the savings flow to the subscriber distributor rather than the studios., SpotifyIt aggregates audio attention and benefits when AI-made music and podcasts become cheap raw material it can pay less for while charging the same subscription price., Walt DisneyWhen feeds fill with cheap AI content, trusted brands cut through, and it owns the deepest bench of franchises plus the streaming pipes to distribute them at premium pricing., RokuIt doesn't make content but owns the TV home screen and charges a toll on every streaming session that starts there, sitting exactly where value pools in this trade., Tencent Music EntertainmentIt aggregates audio attention in a major market and benefits when music gets cheaper to make, capturing value at the dominant streaming distributor while subscription growth accelerates.28%
- Games and gamified apps are attention platforms where AI lets users and studios create more for less. 路 RobloxUser-created worlds let Roblox own both the session and payment rails while creation costs fall, expanding the pool of creators and the hours players spend in the platform., Take-Two InteractiveIt owns franchises like GTA that pull in attention no cheap AI content can replicate, while AI cuts what those games cost to build, letting falling development costs flow to margins., DuolingoIt turned learning into a daily feed habit and uses AI to generate lesson content at near-zero cost, concentrating value at the platform while users stay engaged., NetEaseIts games hold sessions for years in a large market, and AI cuts what they cost to build and run, concentrating value at the platform that owns player attention.16%
- The machinery that turns aggregated attention into ad dollars earns more as ad creation gets cheap and the volume of content and campaigns explodes. 路 AppLovinIts AI engine matches the flood of cheap content and apps to the people most likely to pay, making it the ad machinery that captures value as content volume explodes., The Trade DeskIt is the buying side of the ad rails that advertisers use to reach attention across streaming and the open web, capturing value as ad dollars follow the sessions.12%
- Cash10%