Editorial companion

What stands out

Ivan Feinseth told Fox Business "Software is what makes hardware happen," and used that line to explain why he favors owning software companies. That matters because it distills a decades-long shift: the highest economic value in tech lives in recurring code rather than one-off devices. For investors, Feinseth's point is a reminder to price software as a durable franchise with churn, pricing power, and platform effects, not as a glorified gadget lottery tied to product cycles.