The Briefing by Martin Peers, Jessica Lessin and the team at The Information

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The Briefing

By Martin Peers, Jessica Lessin and the team at The Information

Get smarter about the day’s news in tech, media and finance by following Silicon Valley’s most-read executive newsletter.

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Recent Editions

Citi Cut Off Temu Payments After Visa Raised Concerns

By Michael Roddan and Qianer Liu · Nov 8, 2024 6:00am PST · 1 comment

In just two years, Chinese-owned Temu has come out of nowhere to become one of the best-known bargain shopping sites, known for its ultracheap and sometimes wacky gadgets and apparel. U.S. consumers are expected to spend about $18 billion on the site this year. Behind the scenes, though, Temu has encountered trouble with the bank that was... In just two years, Chinese-owned Temu has come out of nowhere to become one of the best-known...

San Francisco City Hall on Election Day. Photo via Getty.

Politics Won’t Fracture Startup Investing

By Nick Wingfield, Natasha Mascarenhas and Paris Martineau · Nov 7, 2024 5:00pm PST · 4 comments

Considering the political rifts in tech this presidential election exposed, you might think Silicon Valley is about to fracture into a scenario in which blue venture capitalists widely refuse to work with red investors and founders—and vice versa. But we’re not so sure.There’s no doubt that at times during the campaign, the rhetoric between... Considering the political rifts in tech this presidential election exposed, you might think...

Art by Clark Miller; Lurie image via Getty.

Power and Influence

New SF Mayor Daniel Lurie: We Need Sam Altman’s Help

By Josh Koehn · Nov 7, 2024 4:46pm PST · 4 comments

A little more than a year ago, few people in San Francisco could have foreseen Daniel Lurie running away with the mayor’s race: Lurie, a Levi Strauss heir who founded an anti-poverty nonprofit, Tipping Point, had never held elected office. But his outsider status and moderate policy proposals on public safety, housing and... A little more than a year ago, few people in San Francisco could have foreseen Daniel Lurie...

Anthropic CEO Dario Amodei and Amazon CEO Andy Jassy. Photos via Getty.

Amazon Discussing New Multibillion-Dollar Investment in Anthropic

By Anissa Gardizy · Nov 7, 2024 3:24pm PST

Anthropic CEO Dario Amodei and Amazon CEO Andy Jassy. Photos via Getty.

Amazon Discussing New Multibillion-Dollar Investment in Anthropic

By Anissa Gardizy · Nov 7, 2024 3:24pm PST

Amazon is discussing making a second multibillion-dollar investment in OpenAI rival Anthropic, according to a person involved in the discussions. The new deal is similar to Amazon’s initial $4 billion dollar investment in the startup, which was struck last year. But this time, Amazon wants Anthropic to make a concession. The cloud giant is... Amazon is discussing making a second multibillion-dollar investment in OpenAI rival Anthropic,...

J.D. Vance. Photo via Getty

A Venture Capitalist Heads to the White House

By Kate Clark · Nov 7, 2024 3:00pm PST

A venture capitalist is stepping into one of the highest offices in the U.S.—the vice presidency—but whether he’ll be a friend or foe to Silicon Valley is still unclear. Ohio Sen. J.D. Vance should know what helps startups and their investors, thanks to his five years working in venture capital. During that time, he made early-stage... A venture capitalist is stepping into one of the highest offices in the U.S.—the vice presidency—...

Instagram Chief CEO Adam Mosseri. Photo via Getty

Creator Economy

Creators Still Don’t Know What Threads Is For

By Kaya Yurieff · Nov 7, 2024 2:02pm PST

I was surprised last week when Meta announced on its earnings call that its text-based app Threads has almost 275 million monthly active users. Threads rarely comes up in my conversations with creators—or brands—though when you pop into the app it’s not a ghost town either. That got us thinking about where exactly Threads’ growth is coming... I was surprised last week when Meta announced on its earnings call that its text-based app...

How Threads Is Catching Up to X

By Kalley Huang and Kaya Yurieff · Nov 7, 2024 10:19am PST · 1 comment

Meta Platforms CEO Mark Zuckerberg last week said Threads, his company’s microblogging app, was on track to be the company’s “next major social app.” Threads appears to be catching up to its main competitor, X. In October, Meta said Threads had almost 275 million monthly active users. That was up 38% from three months... Meta Platforms CEO Mark Zuckerberg last week said Threads, his company’s microblogging app,...

Photo via Getty

Expect AI Developers to Benefit from Energy Buildouts, Face Chip Uncertainty Under Trump, Experts Say; Are LLMs Reaching a Plateau?

By Kalley Huang · Nov 7, 2024 7:00am PST · 1 comment

Photo via Getty

Expect AI Developers to Benefit from Energy Buildouts, Face Chip Uncertainty Under Trump, Experts Say; Are LLMs Reaching a Plateau?

By Kalley Huang · Nov 7, 2024 7:00am PST · 1 comment

We don’t know how Donald Trump and his administration will handle open-source artificial intelligence, as Stephanie wrote on Wednesday. But AI developers in the U.S. should expect to benefit from easier access to more energy sources and face fresh uncertainty in the AI chip industry, policy experts said on a call with subscribers to The... We don’t know how Donald Trump and his administration will handle open-source artificial...

Former President Donald Trump with Tesla CEO Elon Musk. Photo by The Washington Post via Getty

The Electric: Elon Musk May Be an Ace in China’s Pocket in Its Dealings With Trump

By Steve LeVine · Nov 7, 2024 5:15am PST

Donald Trump’s election could put Tesla CEO Elon Musk in a tough spot, caught between his support for the president-elect and Trump’s tough stance toward China, Tesla’s second-biggest market. But Musk could instead thrive by proving a valuable bridge between Trump and Chinese leader Xi Jinping, I write today in a piece with my colleagues Rachel... Donald Trump’s election could put Tesla CEO Elon Musk in a tough spot, caught between his support...

Photos by Getty. Art by Mike Sullivan

Musk Could Prove China’s Ace in Dealing With Trump

By Steve LeVine, Juro Osawa and Rachel Liang · Nov 7, 2024 5:00am PST · 1 comment

Donald Trump’s election could put Tesla CEO Elon Musk in a tough spot, caught between his support for the president-elect and Trump’s tough stance toward China, Tesla’s second-biggest market. But Musk could instead thrive by proving a valuable bridge between Trump and Chinese leader Xi Jinping. Here’s why: Tesla’s... Donald Trump’s election could put Tesla CEO Elon Musk in a tough spot, caught between his...

Image via Getty

Two OpenAI Business Partners Each Discuss $2 Billion Valuation

By Natasha Mascarenhas and Jon Victor · Nov 6, 2024 7:04pm PST

OpenAI’s rapid growth continues to boost the prospects of suppliers and other business partners whose sales are also climbing quickly. Anysphere, which develops Cursor, an artificial intelligence coding assistant powered in part by OpenAI technology, has received investment offers from venture capitalists at a valuation of around $2.5... OpenAI’s rapid growth continues to boost the prospects of suppliers and other business...

Photo via Getty

Techies Hope for Trump-Driven Deregulation

By Martin Peers · Nov 6, 2024 5:00pm PST · 1 comment

Photo via Getty

Techies Hope for Trump-Driven Deregulation

By Martin Peers · Nov 6, 2024 5:00pm PST · 1 comment

That’s what you call delight. Stocks rocketed—the tech-heavy Nasdaq rose 3%—as Wall Street applauded Donald Trump’s victory in Tuesday’s election. Most tech stocks rose in tandem—Tesla stock jumped 15%, reflecting the benefits CEO Elon Musk is expected to earn from his vocal support for Trump. Notably, one of the few tech stocks to lose... That’s what you call delight. Stocks rocketed—the tech-heavy Nasdaq rose 3%—as Wall Street...

What Trump Could Do First in AI, China and Chips

By Rocket Drew · Nov 6, 2024 4:56pm PST · 4 comments

As the next president, Donald Trump will make his mark on several key issues for tech, from China trade to taxes to artificial intelligence. While much is uncertain, he is likely to promptly repeal the artificial intelligence executive order Biden signed last year. And he could also speed up construction of data centers by loosening regulations... As the next president, Donald Trump will make his mark on several key issues for tech, from China...

Creator Economy

How Trump Used Influencers to Win Over Voters

By Kaya Yurieff · Nov 6, 2024 2:32pm PST

A million years ago, and by that I mean January, I wrote about how both Democratic and Republican presidential campaigns were going to harness the energy of influencers this election. I may have actually underestimated just how much creators would play a role in the White House race, from podcasts to TikTok and super influencers like... A million years ago, and by that I mean January, I wrote about how both Democratic and Republican...

Art by Shane Burke.

The Media Faces a Test—and Is Already Failing

By Jessica E. Lessin · Nov 6, 2024 10:30am PST · 46 comments

The first thing I saw on my phone this morning when I awoke at 5:45 a.m. was a push alert from The New York Times announcing that Donald Trump’s victory in the presidential race put the U.S. “on the edge of a more authoritarian style of governance never before seen in its history.” The language made my stomach sink. Not because... The first thing I saw on my phone this morning when I awoke at 5:45 a.m. was a push alert from...

Photos by Getty

The Battle Over Open-Source AI Will Be Settled in Trump’s Presidency

By Stephanie Palazzolo · Nov 6, 2024 7:15am PST

Photos by Getty

The Battle Over Open-Source AI Will Be Settled in Trump’s Presidency

By Stephanie Palazzolo · Nov 6, 2024 7:15am PST

Donald Trump’s victory in Tuesday’s presidential election has a lot of implications for AI. Some are clear: Trump has said he will repeal President Joe Biden’s AI executive order, which requires companies training large AI models to share information about them with the federal government. In another key area, though, Trump’s stance isn’t... Donald Trump’s victory in Tuesday’s presidential election has a lot of implications for AI. Some...

Art by Mike Sullivan.

Goldman, JPMorgan Eye Crypto Clients as IPO Prospects Brighten

By Yueqi Yang · Nov 6, 2024 6:00am PST

Investment bankers from top Wall Street firms including JPMorgan, Goldman Sachs and Morgan Stanley have been meeting with crypto executives, according to industry participants, hoping to get a foot in the door for lucrative initial public offerings that crypto companies might pursue after the election. The new enthusiasm reflects optimism that... Investment bankers from top Wall Street firms including JPMorgan, Goldman Sachs and Morgan...

Photos via Getty.

Reddit Passes Snap

By Martin Peers · Nov 5, 2024 5:00pm PST

You’re likely distracted right now by election results, which have surely started rolling in as you’re reading. Rather than add to all the premature speculation on the topic, we think creating an election-free zone would be more useful. Below we recommend some things you can do tonight other than watch the news channels.Before we get to that,... You’re likely distracted right now by election results, which have surely started rolling in as...

NVCA President, Bobby Franklin. Photo via YouTube/NYSE.

Venture’s Presidential Agenda; Sarah Guo’s Next Fund

By Kate Clark · Nov 5, 2024 3:26pm PST

Silicon Valley venture capitalists are at odds over who they want to win this presidential race, but there is growing consensus on the need for the next president to replace Lina Khan as head of the Federal Trade Commission. Such a change, venture capitalists hope, could lead to more acquisitions and reinvigorate venture capital investments.“... Silicon Valley venture capitalists are at odds over who they want to win this presidential race,...

Perplexity CEO, Aravind Srinivas. Photo via Flickr/TechCrunch Disrupt.

Perplexity Nears $9 Billion Valuation in Investment Led by IVP

By Natasha Mascarenhas · Nov 5, 2024 2:26pm PST

Perplexity CEO, Aravind Srinivas. Photo via Flickr/TechCrunch Disrupt.

Perplexity Nears $9 Billion Valuation in Investment Led by IVP

By Natasha Mascarenhas · Nov 5, 2024 2:26pm PST

Institutional Venture Partners is in talks to lead a $500 million investment in Perplexity, which has developed an artificial intelligence-powered search engine that competes with Google, according to two people with knowledge of the deal. The company is set to raise the round at a $9 billion valuation, triple the valuation from a round earlier... Institutional Venture Partners is in talks to lead a $500 million investment in Perplexity, which...