Platform Aeronaut

AI Direct Hotel Booking: How CRS and PMS Vendors Become the New Gatekeepers

A breakdown of CRS, PMS, and Booking Engine vendors through the lens of AI agents and MCP-era distribution.

Dec 8 • Thomas Reiner

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November 2025

Why Does Dilution Matter? + Charts on ABNB, PINS, SNAP & Infra Software | PA Dispatch No. 7

A quick view of this week’s shifts in platforms, valuations, and AI adoption. Numbers, context, and curated reads you can use.

Nov 25 • Thomas Reiner

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Tech Dilution Through Q3: Discipline Cracks at Big Tech

Why Meta, Tesla, and others Are backsliding while smaller caps stabilize. The AI supercycle is exposing who has real SBC discipline and who’s losing the…

Nov 17 • Thomas Reiner

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Experience & Mobility Platform Incremental Margins & Earnings | PA Dispatch No. 6

A quick view of this week’s shifts in platforms, valuations, and AI adoption. Numbers, context, and curated reads you can use.

Nov 7 • Thomas Reiner

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October 2025

Uber × Nuro / Lucid / Stellantis / Nvidia: The Next Phase of Rideshare Autonomy | PA Dispatch No. 5

A quick view of this week’s shifts in platforms, valuations, and AI adoption. Numbers, context, and curated reads you can use.

Oct 30 • Thomas Reiner

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Uber's Third Engine: Driver-Led AI Work | PA Dispatch No. 4

A quick view of this week’s shifts in platforms, valuations, and AI adoption. Numbers, context, and curated reads you can use.

Oct 19 • Thomas Reiner

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OpenAI “App Store”: What it Means for Travel | PA Dispatch No. 3

A quick view of this week’s shifts in platforms, valuations, and AI adoption. Numbers, context, and curated reads you can use.

Oct 9 • Thomas Reiner

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Platform Aeronaut Dispatch | No. 2 | AI Travel Distribution Models & EA Take-Private

A quick view of this week’s shifts in platforms, valuations, and AI adoption. Numbers, context, and curated reads you can use.

Oct 3 • Thomas Reiner

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DoorDash TAM Expansion and a Push into POS Systems?

At Dash Forward 2025 DoorDash announced restaurant bookings, Dot autonomous delivery robots, expanded grocery access, and DashMart fulfillment, and…

Oct 1 • Thomas Reiner

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September 2025

Navan S-1 & TMC Industry Deep Dive | A Modern AI-Powered Travel Management Company

Navan’s S‑1 shows a TMC built like software: a single platform where AI, direct content, and payments converge to pull unmanaged spend on‑platform (and…

Sep 28 • Thomas Reiner

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Platform Aeronaut Dispatch | No. 1 | Navan IPO Filing, Toast Pricing Error

A quick view of this week’s shifts in platforms, valuations, and AI adoption. Numbers, context, and curated reads you can use.

Sep 25 • Thomas Reiner

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Fortnite Going All-In on UGC but Chasing Roblox

Big changes to Fortnite developer compensation, selling in-game items, and chasing engagement but lost time and ground to Roblox. Is it too late?

Sep 23 • Thomas Reiner

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