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

Five times/week

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.

By providing your email, you agree to The Information’s Privacy Policy

Recent Editions

FTC Chair Lina Khan. Photo via Getty.

Microsoft’s Antitrust Luck Runs Out

By Martin Peers · Nov 27, 2024 3:20pm PST

You have to hand it to Lina Khan. The Federal Trade Commission chair, appointed by outgoing President Joe Biden, is working until the bitter end (which is likely two months away). Bloomberg reported Wednesday afternoon that Khan had signed off on an antitrust investigation of Microsoft. That’s a big deal.Microsoft is the only one of the five big... You have to hand it to Lina Khan. The Federal Trade Commission chair, appointed by outgoing...

Photo via Getty

Creator Economy

TikTok’s Dirt Cheap Pricing Is a Ghost of Christmas Past

By Kaya Yurieff · Nov 27, 2024 2:23pm PST

We’re in the second year of an intense holiday shopping drive on TikTok. Sadly for all you bargain hunters, the dirt cheap prices that teased TikTok users a year ago are no more. But the app is still heavily promoting discounts as it’s rolled out other improvements and features, like livestreaming. As I browsed the Shop tab on TikTok this... We’re in the second year of an intense holiday shopping drive on TikTok. Sadly for all you...

Sriram Krishnan. Photo via Flickr/Fortune.

Andreessen Horowitz’s Sriram Krishnan to Leave Firm, Discusses Role With Musk

By Natasha Mascarenhas and Erin Woo · Nov 27, 2024 12:46pm PST

Sriram Krishnan, a general partner at Andreessen Horowitz and former product leader at Twitter, is leaving the firm four years after joining, according to a person familiar with the discussions. Krishnan, 41, has had discussions with Elon Musk about joining the Department of Government Efficiency, the new entity incoming President-elect Donald... Sriram Krishnan, a general partner at Andreessen Horowitz and former product leader at Twitter,...

Eric Glyman, co-founder and CEO of Ramp. Photo by Getty.

Ramp Seeks Valuation Bump to $11 Billion in Share Sale

By Cory Weinberg · Nov 27, 2024 10:35am PST

Eric Glyman, co-founder and CEO of Ramp. Photo by Getty.

Ramp Seeks Valuation Bump to $11 Billion in Share Sale

By Cory Weinberg · Nov 27, 2024 10:35am PST

Ramp, the business card and expense software startup, is discussing selling shares held by employees and other stockholders at a price that would value it at $11 billion, two people familiar with the deal said. That price would be 35% above Ramp’s highest valuation, set in 2022—near the end of the low-interest-rate funding... Ramp, the business card and expense software startup, is discussing selling shares held by...

Photo via Getty.

Where OpenAI Sees Paying Customers for o1

By Aaron Holmes · Nov 27, 2024 7:00am PST

OpenAI has a first-mover advantage in a realm known as reasoning, or artificial intelligence capable of solving complex problems with little human oversight, as we reported this week. Now, the startup is moving to cash in on that headstart by selling its reasoning model, known as o1, to corporate customers. I talked with OpenAI chief... OpenAI has a first-mover advantage in a realm known as reasoning, or artificial intelligence...

OpenAI's Giancarlo "GC" Lionetti. Photo via YouTube/Kleiner Perkins.

Q&A

OpenAI’s Sales Chief Sees ‘Paradigm Shift’ in Corporate AI Spending

By Aaron Holmes · Nov 27, 2024 6:00am PST

OpenAI, targeting nearly $4 billion in revenue this year, has generated the vast majority of those sales from individual consumers who pay for ChatGPT’s premium features. The company’s ability to hit its steep growth goals—as much as $100 billion in revenue by 2029—will hinge in part on its ability to sell to businesses.... OpenAI, targeting nearly $4 billion in revenue this year, has generated the vast majority of...

Photo via Getty

Why Apple Might Be Headed for Another Antennagate

By Martin Peers · Nov 26, 2024 5:00pm PST

It’s a bit early to be offering predictions for 2025, but here goes anyway. Chances are very good that sometime next year we’re going to hear a bunch of complaints about newly released Apple iPhones dropping calls more often than previous models did. In other words, we’re in for a repeat of the “Antennagate” brouhaha of 2010, when similar... It’s a bit early to be offering predictions for 2025, but here goes anyway. Chances are very good...

Michelle Volz. Photo via Andreessen Horowitz.

Andreessen Horowitz ‘Dynamism’ Partner to Launch Solo Fund

By Natasha Mascarenhas · Nov 26, 2024 3:18pm PST

Michelle Volz. Photo via Andreessen Horowitz.

Andreessen Horowitz ‘Dynamism’ Partner to Launch Solo Fund

By Natasha Mascarenhas · Nov 26, 2024 3:18pm PST

More new venture managers are trying to raise new funds, bucking a slump in venture capital fundraising. The latest: Michelle Volz, a partner at Andreessen Horowitz on the American Dynamism team, is leaving the firm and raising her own fund to invest in the same type of startups, according to a person with direct knowledge of the fundraising... More new venture managers are trying to raise new funds, bucking a slump in venture capital...

Rappers Drake (left) and Kendrick Lamar (right). Photos via Getty.

Creator Economy

Drake-Kendrick Beef Highlights Murkiness of Influencer Marketing

By Sahil Patel · Nov 26, 2024 2:08pm PST

The biggest rap beef in music history now includes threats of legal action—and allegations that the most powerful music label in the world engaged in an illegal payola scheme by paying influencers to promote a hit song. The allegations illustrate the Wild West of influencer marketing, which lacks some of the enforcement mechanisms that keep... The biggest rap beef in music history now includes threats of legal action—and allegations that...

Art by Clark Miller

Armed With AI, Small Businesses Also Challenge Hollywood

By Andrew A. Rosen · Nov 26, 2024 9:00am PST

Don Allen Stevenson III is a former trainer for Dreamworks Animation who uses artificial intelligence tools to create videos for his 124,000 followers on Instagram, where he goes by Don Allen III. Stevenson uses the videos to showcase how he uses AI tools. In one recent video, he used 3D animation software called Cinema 4D to build an animated... Don Allen Stevenson III is a former trainer for Dreamworks Animation who uses artificial...

The Reka AI team. Photo via Reka.

Google, OpenAI Snap Up Startup Founders; AI War Games

By Kalley Huang · Nov 26, 2024 8:00am PST

Earlier this year, a string of founders left their artificial intelligence startups for Google, Amazon and Microsoft after striking licensing deals with the technology giants. Now things are reversing: some founders lately have left their startups for bigger rivals after exploring—but not inking—acquisitions.On Monday, Justin Uberti, cofounder... Earlier this year, a string of founders left their artificial intelligence startups for Google,...

Art by Mike Sullivan

Green Shoots Appear in Enterprise App Sector After Brutal Slump

By Jon Victor and Kevin McLaughlin · Nov 26, 2024 7:31am PST · 2 comments

Art by Mike Sullivan

Green Shoots Appear in Enterprise App Sector After Brutal Slump

By Jon Victor and Kevin McLaughlin · Nov 26, 2024 7:31am PST · 2 comments

After a brutal downturn, software startups are doing better. Airtable, an app firms use to help employees collaborate on projects, is growing at a 30% annual rate, according to Chief Financial Officer Ambereen Toubassy, and has turned cash flow positive. Toubassy said Airtable hopes to be prepared for a possible initial public offering next... After a brutal downturn, software startups are doing better. Airtable, an app firms use to help...

Photo by Getty

TSMC’s Push to Be Tech’s Switzerland in Doubt as U.S.-China Tensions Grow

By Qianer Liu · Nov 26, 2024 6:00am PST · 1 comment

If Taiwan Semiconductor Manufacturing Co. had its way, the chip manufacturing powerhouse would be a neutral party in the battle between the U.S. and China for technological supremacy—a semiconductor version of Switzerland, one TSMC executive told The Information. Unfortunately, the company may find it increasingly tough to avoid picking a... If Taiwan Semiconductor Manufacturing Co. had its way, the chip manufacturing powerhouse would be...

Photo via Getty

Klarna’s AI Savings

By Theo Wayt · Nov 25, 2024 5:00pm PST · 7 comments

Klarna has been louder than most other companies about using artificial intelligence to cut jobs and save money—part of a broader AI rebrand as the installment lender polishes itself up for a potential IPO. A fresh batch of financial details the company released today, alongside an AI-generated avatar of CEO Sebastian Siemiatkowski discussing... Klarna has been louder than most other companies about using artificial intelligence to cut jobs...

An Apple store in Shanghai. Photo via Getty.

Apple’s Thin iPhone Has No Physical SIMs—That Could Dampen China Sales

By Wayne Ma and Qianer Liu · Nov 25, 2024 7:30am PST · 5 comments

Apple’s desire to make its products thinner could dampen sales in China if its engineers can’t overcome a design hurdle with the slim iPhone planned for release next fall—it can’t fit a physical SIM card tray, which is required in China. Apple plans to release its slim iPhone next year, alongside new versions of its... Apple’s desire to make its products thinner could dampen sales in China if its engineers...

Photo via Getty

Why Everyone Is Underestimating Reasoning Models

By Stephanie Palazzolo and Kalley Huang · Nov 25, 2024 7:00am PST

Photo via Getty

Why Everyone Is Underestimating Reasoning Models

By Stephanie Palazzolo and Kalley Huang · Nov 25, 2024 7:00am PST

Some people in the artificial intelligence industry have been skeptical about whether reasoning models such as OpenAI’s o1 represent a paradigm shift. After all, the model hasn’t gotten much usage in ChatGPT. But these skeptics may not fully understand what reasoning models are actually good for.The queries that ChatGPT typically handles won’t... Some people in the artificial intelligence industry have been skeptical about whether reasoning...

Art by Clark Miller.

New Competitors Chase OpenAI in Reasoning AI Race

By Stephanie Palazzolo and Erin Woo · Nov 25, 2024 6:00am PST · 1 comment

After OpenAI sparked a race this fall by releasing groundbreaking artificial intelligence known as reasoning AI, it seemed like the ChatGPT owner might run away with the market. Both Google and Microsoft scrambled to catch up with the technology, which aims to help users answer complex, multi-step questions, according to two people involved... After OpenAI sparked a race this fall by releasing groundbreaking artificial intelligence known...

Northvolt CEO Peter Carlsson announces his resignation last week. Photo: Getty

The Electric: Northvolt’s Blunt Message to Fellow Battery Startups—Don’t Expect a Bailout

By Steve LeVine · Nov 25, 2024 4:30am PST · 2 comments

Around a year ago, Swedish batterymaker Northvolt was feted in Europe and North America as the West’s answer to China’s dominance of lithium-ion battery production. The Quebec and Canadian governments committed $1.9 billion in subsidies toward a Northvolt battery plant near Montreal, and the EU provided a $5 billion loan toward a Northvolt... Around a year ago, Swedish batterymaker Northvolt was feted in Europe and North America as the...

Art by Clark Miller

From a Beeple to a Banana

By Abram Brown · Nov 23, 2024 7:00am PST

Welcome, Weekenders! In this newsletter:• The Big Read: Teens confront a new age of facial tech • Media: The young, male digital stars using YouTube to take over podcasts• The Top 5: Best AI books of 2024• Plus: Free Adnan! Free Keiko!; revisiting Walter Isaacson’s Elon Musk tome; and a TV triumph about the Troubles.A few times a year, the... Welcome, Weekenders! In this newsletter:• The Big Read: Teens confront a new age of facial...

Synapse CEO Sankaet Pathak. Photo via YouTube/FinTech Silicon Valley.

Andreessen Investor Fought to Keep Synapse CEO Before Fintech Collapsed

By Michael Roddan · Nov 23, 2024 6:00am PST · 4 comments

Synapse CEO Sankaet Pathak. Photo via YouTube/FinTech Silicon Valley.

Andreessen Investor Fought to Keep Synapse CEO Before Fintech Collapsed

By Michael Roddan · Nov 23, 2024 6:00am PST · 4 comments

Last year, the board of now-collapsed fintech startup Synapse Financial Technologies discussed whether to remove the company’s CEO, Sankaet Pathak. At the time, discrepancies in Synapse’s ledgers were piling up, which the board was aware of. Andreessen Horowitz General Partner Angela Strange argued in favor of keeping Pathak in the... Last year, the board of now-collapsed fintech startup Synapse Financial Technologies discussed...