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The Briefing
A Boring—but Important—IPO
Sept. 20, 2023
Creator Economy
Meta Verified Works Out the Kinks in Public
Sept. 20, 2023
Crypto Global
Behind the Scenes at Paradigm
Sept. 20, 2023
AI Agenda
How GitHub Copilot’s Co-Creator Raised $126 Million to Compete with His Former Employer
Sept. 20, 2023
The Electric
The Electric: Musk Promised a $25,000 EV by This Week. Why It’s Still Urgent He Produces It
Sept. 18, 2023
The Weekend
Meet the Leaders of the Austin Tech Brat Pack
Sept. 16, 2023
Pro Weekly
Pro Weekly: The Most Popular Clouds for Generative AI Startups
Sept. 15, 2023
Dealmaker
Nvidia and the Corporate VC Boom Ahead
Sept. 14, 2023

Briefings

Instacart Shares Lose Nearly All IPO Gains
Sept. 20, 2023
Klaviyo Shares Rise 9% in Public Debut
Sept. 20, 2023
Apple, Goldman Scuttled Stock-Trading App
Sept. 20, 2023
U.S. Commerce Chief: There Is No Evidence That China Can Make Advanced Chips at Scale
Sept. 19, 2023
Instacart Shares Gain 12% in IPO Debut
Sept. 19, 2023
Klaviyo Prices IPO Above Range for $9.2 Billion Valuation
Sept. 19, 2023
Google Boosts Bard Chatbot with Gmail, Docs Features
Sept. 19, 2023
Elon Musk and Tesla Probed in Federal Criminal Investigation
Sept. 19, 2023
Warner Bros. Discovery’s Max Service to Add Live Sports Tier
Sept. 19, 2023
Leaked Microsoft Documents Detail New Xbox Console, Possible Acquisitions
Sept. 19, 2023

Subscriber comments

Pano anthos

on Why Dave Clark and Ryan Petersen Butted Heads at Flexport

Pano anthos

on A Tangled Mess of Tech: JPMorgan’s Tall Task to Integrate First Republic

Tech is the least of their issues. They have essentially disavowed the commitments and strategy that FRB executed with the private equity and startup community. The defections in the key banking roles testify to this. We had high hopes for Chase but better systems do not compare to relationships and networking, which is how the startup world works, unfortunately. Chase is treating FRB clients like SMB accounts. Good luck!

Jud Valeski

on OpenAI Considers Creating an App Store for AI Software

Reckoning is coming for OpenAI… they’d be smart to get the marketplace going in earnest. Playing with what mostly amounts to a hallucinating NLP engine is losing steam quickly. Time for thousands of adjacent flowers to bloom.

Joseph Bohrer

on Investors Say They’re Fed Up With Amazon’s Big Bets

I feel like I've been waiting 15 years to read an article like this. Aside from the lack of discipline and transparency on unrelated investments, the retail business has never delivered the consistent profits that were promised years ago and that were the reason investors held a profitless company all those years.

Brad Templeton

on SoftBank’s Onetime Pizza-Robot Darling Shuts Down

It was a silly investment for the time. One obvious flaw is that the pizza tasted terrible. Which is odd because we should start seeing foods that robots make flawlessly -- if given a great formula and training from a great chef, allowing that food to scale in a way it could not before. But pizza already scales.

Yutaka Okura

on Google Invests in AI Startup Runway to Wrest Cloud Business From AWS

Google used to always aim high - like B-HUG (Big Hairy Audacious Goal) as they call it internally. But their recent investment looks like just following social technical trend, rather than setting the trend. I would like them to regain dynamism of leading the society, further investing in moonshot type of activities such as they used to do it at GoogleX.

Carsten Schmidt

Carsten Schmidt

on TikTok Is Not the Enemy

While TikTok is certainly shady, there hasn’t been any clear evidence that shows they are guilty. I think the government owes it to the people to provide clear evidence of this being a clear security threat before banning a service.

Latest Articles

From left, a Google TPU, Broadcom CEO Hock Tan and Google Cloud chief Thomas Kurian. Photos via Getty, Google and YouTube.

Exclusive

To Reduce AI Costs, Google Wants to Ditch Broadcom as Its TPU Server Chip Supplier

By Wayne Ma, Anissa Gardizy and Jon Victor · Sept. 21, 2023 1:22 AM PDT

Google executives have extensively discussed dropping Broadcom as a supplier of artificial intelligence chips as early as 2027, according to a person with direct knowledge of the effort. In that scenario, Google would...

Image: From left, a Google TPU, Broadcom CEO Hock Tan and Google Cloud chief Thomas Kurian. Photos via Getty, Google and YouTube.

Andrew Bialecki, CEO of Klaviyo (left), and Tobias Lütke, CEO of Shopify (right). Photos via Klaviyo and Getty.

Shopify Scores a Quick Win in Klaviyo IPO

By Ann Gehan and Cory Weinberg · Sept. 20, 2023 6:36 AM PDT

Count Shopify as one of the beneficiaries of the thawing market for initial public offerings. The e-commerce software giant is set for a windfall from a successful debut of Klaviyo, the marketing and data automation startup that priced its IPO at a fully diluted valuation of $9.2 billion late Tuesday. Shopify stands to gain a quick $295 million... Count Shopify as one of the beneficiaries of the thawing market for initial public offerings. The...

Art by Mike Sullivan

Instagram Power Users Are Fuming Over Its $12-a-Month Subscription

By Kaya Yurieff · Sept. 19, 2023 6:00 AM PDT · 4 comments

In late August, Jenny French discovered Instagram had disabled her account. That was a blow, since nearly half the prospects for her U.K. business, which trains physical therapists, jewelry boutiques and other clients on how to increase their Instagram reach, came from the account. But French figured she had an in with Instagram that would allow... In late August, Jenny French discovered Instagram had disabled her account. That was a blow,...

An Albertsons grocery store in L.A. Photo by Getty.

startups Finance

Instacart’s Secret Deals With Grocery Giants

By Cory Weinberg · Sept. 18, 2023 7:00 AM PDT · 8 comments

When Instacart goes public on Tuesday, at least one shareholder likely to make money is its own customer: grocery giant Albertsons, one of several retailers that quietly struck stock deals with Instacart years ago that remained a closely held secret inside the delivery company, people familiar with the matter said. The grocery company’s... When Instacart goes public on Tuesday, at least one shareholder likely to make money is its own...

Art by Mike Sullivan

Disney-Charter Deal Could Prompt More Cable TV-Streaming Bundles

By Sahil Patel · Sept. 18, 2023 6:00 AM PDT

Art by Mike Sullivan

entertainment media/telecom

Disney-Charter Deal Could Prompt More Cable TV-Streaming Bundles

By Sahil Patel · Sept. 18, 2023 6:00 AM PDT

Last week, Charter Communications, the No. 2 cable provider, and Walt Disney Co. cut a deal to include Disney streaming services, such as Disney+ and a new ESPN service still in the works, with Charter’s cable television packages. That pact could be a watershed for traditional TV gatekeepers that want a piece of the action from the... Last week, Charter Communications, the No. 2 cable provider, and Walt Disney Co. cut a deal to...

Flexport founder Ryan Petersen. Photos via Getty and Flexport.

Can Ryan Petersen Fix Flexport?

By Ann Gehan and Theo Wayt · Sept. 17, 2023 6:00 AM PDT

Ryan Petersen was getting antsy. This March, Petersen had handed over the CEO job at Flexport—the logistics company he’d founded a decade earlier, which had ballooned to an $8 billion valuation in 2022—to veteran Amazon executive Dave Clark. In July, Petersen joined venture capital firm Founders Fund as a partner. But just a... Ryan Petersen was getting antsy. This March, Petersen had handed over the CEO job at...

Art by Mike Sullivan.

A Is for Adaptogens, B Is for Body Sculpting: A Trending-in-Silicon Valley Health Glossary

By Annie Goldsmith · Sept. 16, 2023 6:01 AM PDT · 1 comment

Last month, The Information Weekend conducted our first-ever Brain-Body Investment Survey, asking subscribers about their exercise, wellness and beauty practices. The results emphasized Silicon Valley’s willingness to experiment and innovate—not just in their jobs, but on their bodies. Some of the practices respondents jotted down... Last month, The Information Weekend conducted our first-ever Brain-Body Investment Survey, asking...

Art by Clark Miller.

The Trouble With Walter: In His Elon Musk Tome, the Writer Shows Us the Perils of Access Journalism

By Adam Lashinsky · Sept. 16, 2023 6:00 AM PDT · 73 comments

Walter Isaacson is the exotic bird of American letters, a charming and convivial bon vivant and raconteur, the life of many a dinner party, a studious biographer and a generous mentor. He blurbed both of my books, a kindness he’s bestowed on many authors, and he has been nothing but kind and gracious to me over the years. Unfortunately,... Walter Isaacson is the exotic bird of American letters, a charming and convivial bon vivant and...

Tim Cook introduces Apple Card during a launch event at Apple headquarters on March 25, 2019. Photo via Getty.

Goldman Sachs Makes Adjustments to Fix Apple Savings Account Problems

By Lauren Tara LaCapra · Sept. 15, 2023 2:19 PM PDT

Tim Cook introduces Apple Card during a launch event at Apple headquarters on March 25, 2019. Photo via Getty.

Goldman Sachs Makes Adjustments to Fix Apple Savings Account Problems

By Lauren Tara LaCapra · Sept. 15, 2023 2:19 PM PDT

Goldman Sachs has made changes to how it handles Apple Savings transactions in an effort to resolve problems some customers had experienced when making withdrawals, according to people familiar with the matter. Some Apple Card customers who flocked to new Apple Savings accounts after they launched in April found it difficult or impossible to... Goldman Sachs has made changes to how it handles Apple Savings transactions in an effort to...

The Apple Episode (Carbon Neutralish)

By Jessica E. Lessin · Sept. 15, 2023 12:06 PM PDT · 2 comments

This week, we took advantage of Brit and Dave's deep expertise in all things Apple for a fun episode about the company's new products, the state of hardware and how Apple will fare in the AI era. I loved hearing Brit share an anecdote about Steve Jobs. You'll know why when you hear it. And, of course, we got a few good... This week, we took advantage of Brit and Dave's deep expertise in all things Apple...

The California Public Employees' Retirement System (CalPER) office in Sacramento, Calif. Photo by Getty.

startups venture capital

Thrive to Raise $300 Million From CalPERS Amid Dry Spell for VCs

By Kate Clark · Sept. 15, 2023 11:50 AM PDT

Thrive Capital is raising $300 million from California Public Employees' Retirement System, adding a marquee investor at a time when venture investors are finding it harder to raise money, according to a person with direct knowledge of the matter. The addition of CalPERS, which manages $463 billion, marks the pension plan’s first... Thrive Capital is raising $300 million from California Public Employees' Retirement System,...

enterprise Finance

The People in Power at Tech Private Equity Juggernaut Thoma Bravo

By Rachel Graf · Sept. 15, 2023 10:30 AM PDT · 1 comment

Orlando Bravo may be the face of Thoma Bravo, but he’s not the only one calling the shots. The hard-charging, helicopter-riding managing partner has become the most recognizable person at the software-focused private equity firm. But he’s surrounded by a cadre of trusted executives who help oversee Thoma Bravo’s massive $131... Orlando Bravo may be the face of Thoma Bravo, but he’s not the only one calling the shots....

Gigafund co-founders Luke Nosek and Stephen Oskoui. Art by Clark Miller; Oskoui photo courtesy Gigafund.

The Elon Musk Investors With Dreams of a New Social Order

By Julia Black · Sept. 15, 2023 9:31 AM PDT · 5 comments

Gigafund co-founders Luke Nosek and Stephen Oskoui. Art by Clark Miller; Oskoui photo courtesy Gigafund.

space entertainment

The Elon Musk Investors With Dreams of a New Social Order

By Julia Black · Sept. 15, 2023 9:31 AM PDT · 5 comments

In February 2021, a Mormon film producer named Jeffrey Harmon returned home to Provo, Utah, raving about an exclusive gathering he’d just attended in Austin, Tex. He’d been invited by an old friend, Stephen Oskoui, who ran Austin-based venture capital firm Gigafund alongside Luke Nosek, a founding partner of Founders Fund and a... In February 2021, a Mormon film producer named Jeffrey Harmon returned home to Provo, Utah,...

Meta's EMEA headquarters in Dublin. Photo via Getty.

Meta, Under Fire From Regulators, Dials Back Ad Targeting

By Sylvia Varnham O'Regan · Sept. 15, 2023 6:00 AM PDT

Meta Platforms built a $114 billion-a-year advertising juggernaut by tailoring ads to Facebook and Instagram users based on what they liked, posted or bought on the company’s apps. Now, under mounting pressure from regulators around the world, Meta is backing away from that approach. In the EU, users can now choose to see ads based... Meta Platforms built a $114 billion-a-year advertising juggernaut by tailoring ads to Facebook...

Photo by Getty

Google Nears Release of Gemini AI to Challenge OpenAI

By Jon Victor · Sept. 14, 2023 4:52 PM PDT · 2 comments

Google has given a small group of companies access to an early version of its highly anticipated conversational artificial intelligence software, according to three people with direct knowledge of the matter. Giving outside developers access to the software, known as Gemini, means Google is getting close to incorporating it in its consumer... Google has given a small group of companies access to an early version of its highly anticipated...

Flexport founder, Ryan Petersen. Photo by Bloomberg via Getty.

Flexport’s Revenue Dropped 70% in First Half of 2023

By Maria Heeter, Aaron Holmes, Ann Gehan and Theo Wayt · Sept. 14, 2023 12:40 PM PDT · 9 comments

Flexport’s revenue fell nearly 70% in the first half of the year to $700 million and the company burned through cash, people familiar with the company’s financials said. The decline shows how the SoftBank- and Andreessen Horowitz-backed logistics startup’s performance has been deteriorating rapidly amid a broader freight market... Flexport’s revenue fell nearly 70% in the first half of the year to $700 million and the...

Paradigm co-founders Fred Ehrsam (left) and Matt Huang (right). Photos via Flickr and AP

The Paradigm Shift in Crypto That Wasn’t

By Aidan Ryan · Sept. 14, 2023 6:00 AM PDT · 2 comments

Paradigm co-founders Fred Ehrsam (left) and Matt Huang (right). Photos via Flickr and AP

venture capital startups

The Paradigm Shift in Crypto That Wasn’t

By Aidan Ryan · Sept. 14, 2023 6:00 AM PDT · 2 comments

Earlier this year, as some of the less die-hard crypto investors and entrepreneurs began distancing themselves from that turbulent sector, Paradigm—one of the largest venture firms specializing in crypto—also seemed to wobble. In May, Paradigm scrubbed any mention of crypto from the homepage of its website and Twitter bio, changing... Earlier this year, as some of the less die-hard crypto investors and entrepreneurs began...

startups venture capital

Why the Two Biggest Winners in Instacart’s IPO Clashed

By Cory Weinberg · Sept. 13, 2023 5:57 PM PDT · 5 comments

By far, the two biggest winners of Instacart’s long-awaited initial public offering next week will be the grocery company’s largest individual shareholder, co-founder and former CEO Apoorva Mehta, and its largest venture backer, Sequoia Capital. Mehta’s profit from the listing stands to be more than $780 million, while Sequoia... By far, the two biggest winners of Instacart’s long-awaited initial public offering next...

Arm CFO Jason Child. Art by Mike Sullivan.

startups semiconductors

The Startup ‘Adrenaline Junkie’ Trying to Break Open the IPO Market

By Cory Weinberg · Sept. 13, 2023 6:00 AM PDT · 2 comments

When bankers working on Arm’s impending initial public offering wanted to talk to one of the executives in charge of the SoftBank-owned chip designer, they sometimes heard heavy breathing on the other end of the phone. It was the sound of Jason Child, a longtime Amazon executive who is now Arm’s chief financial officer, running up a... When bankers working on Arm’s impending initial public offering wanted to talk to one of...

Deel CEO and co-founder Alex Bouaziz. Photo by Getty.

startups venture capital

Deel Changes Terms of Service, Cuts Off High-Risk Trading Sites

By Natasha Mascarenhas · Sept. 12, 2023 7:13 PM PDT

Human resources startup Deel revamped its terms of service, banning several additional types of transactions and effectively ending support for some retail trading websites whose activities have lately drawn the scrutiny of securities regulators. The four-year-old startup, best known for services that help companies hire remote workers, had... Human resources startup Deel revamped its terms of service, banning several additional types of...

Art by Clark Miller.

Can Yahoo Be Saved? How Apollo Is Rebuilding an Internet Icon

By Rachel Graf · Sept. 12, 2023 6:00 AM PDT · 9 comments

Art by Clark Miller.

media/telecom Finance

Can Yahoo Be Saved? How Apollo Is Rebuilding an Internet Icon

By Rachel Graf · Sept. 12, 2023 6:00 AM PDT · 9 comments

When speaking about the company he inherited in September 2021, Jim Lanzone is remarkably blunt. “I always knew these products had seen better days,” said Lanzone, the CEO of Yahoo, over a video call in late August. “Even though they still have large audiences, they needed to be modernized—pretty much every single one of... When speaking about the company he inherited in September 2021, Jim Lanzone is remarkably blunt....