SCOOP: Sequoia Capital is targeting $2.25 billion for two U.S. VC funds, defying the chill over private tech investing Read Now

An AMC theater. Photo by Bloomberg
The Briefing
Media/Telecom Markets

The Flaws in CEO Management-By-Twitter

Photo: An AMC theater. Photo by Bloomberg

Elon Musk’s decision to poll Twitter on whether he should sell stock in Tesla triggered endless news coverage this week, as reporters and commentators dissected what he was really up to. The smartest take—in this Wall Street Journal commentary—was that Musk was giving himself cover for what would have been a tax-driven decision to sell stock anyway. The poll then, was theater (he has been unloading some stock, with more sales reported today.)

Musk is a showman, of course, but his Twitter activity doesn’t seem to distract him too much from running some sizable companies successfully. The same can’t be said of Adam Aron, the CEO of the AMC movie theater chain, who is trying to emulate Musk’s approach to management via Twitter. Late Thursday, for instance, Aron tweeted that AMC was now accepting various cryptocurrencies as payment at its theaters, fulfilling a promise made to crypto enthusiasts months ago. He, too, has run Twitter polls on whether AMC should also accept Dogecoin—the answer was yes, and AMC is working on it—along with another cryptocurrency, Shiba Inu. The jury is still out on that one.

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
Exclusive
Sequoia Capital Targets $2.25 Billion for Two U.S. VC Funds
Sequoia Capital global managing partner Doug Leone. Photo: Bloomberg
Sequoia Capital, defying the tech market sell-off that’s chilled startup fundraising, is asking investors to commit money to two new U.S.-focused funds, according to two people familiar with the matter. The Menlo Park, Calif.-based venture capital firm behind Airbnb and DoorDash expects to dedicate $1.5 billion to a U.S. growth fund focused on more mature companies, the people said....
Latest Briefs
 
SoftBank-Backed Grocery App Weee! Lays Off 10% of Staff
China’s Economy Shows Recovery Signs as Covid Restrictions Ease
Microsoft Takes Nearly Six Months to Fix Azure Security Flaw
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Amazon's logo on a tent at Cannes this week. Photo by Reuters.
Amazon
Amazon’s Ad Staffers Flee Amid Complaints of Bloat, Bureaucracy
In the years immediately before Covid-19 sidelined the global advertising festival in Cannes, Amazon kept a low-key presence at the annual gathering of ad and tech people.
Crypto Markets
Tech’s Worst-Timed Deals: Six Acquisitions That Have Not Improved With Age
As tech valuations collapse to a fraction of where they were last year, executives likely have a few regrets.
Art by Clark Miller
Scene and Heard Crypto Culture
‘The Last Great Party’: With Crypto Winter Coming, NFT Lovers Try to Stave Off Reality
Ten days before NFT.NYC began last Monday in New York, I interviewed the conference’s founder, Jodee Rich, about how the crypto market’s collapse would impact this year’s gathering.
Tesla's Fremont factory, in a photo taken in May 2020.
Exclusive Autonomous Vehicles
At Tesla, Returning to the Office Creates New Problems
On the evening of June 8, speaking from Tesla’s factory in Fremont, Calif., Elon Musk addressed a few dozen of the electric car maker’s employees in person, and thousands more in a livestream.
From left: Brooke Hainey & Keith George, co-founders of Cortina; Bennett Carroccio, co-founder of Canal; Conner Sherline, founder of Disco.
Startups to Watch Startups E-commerce
Three Startups That Help Online Retailers Cut Out Facebook Ads
Direct-to-consumer brands that rely heavily on Facebook and Instagram ads have been reeling ever since Apple’s 2021 privacy changes made it harder and more expensive to land new customers.
Opinion Media/Telecom
The Question Plaguing Connected TV: Who’s Watching?
PARQOR is part of The Information’s newsletter network. To receive it in your inbox every Monday, Wednesday and Friday, sign up here .