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

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Recent Editions

Masayoshi Son, chairman and CEO of SoftBank. Photo by Bloomberg via Getty.

SoftBank Finally Gets Its Piece of OpenAI

By Kate Clark · Oct 1, 2024 3:00pm PDT

The internet didn’t hold back in mocking OpenAI and SoftBank in response to my scoop on SoftBank’s Vision Fund investing $500 million at a $150 billion pre-investment valuation in the ChatGPT developer. The commentators quickly interpreted the Japanese telecom giant’s participation in the financing as a sign that the artificial intelligence... The internet didn’t hold back in mocking OpenAI and SoftBank in response to my scoop on SoftBank’...

Photo via YouTube

Creator Economy

YouTube’s Creator Awards Hit by ‘Shrinkflation’

By Kaya Yurieff · Oct 1, 2024 2:00pm PDT

About 12 years ago, YouTube started sending out physical awards when creators hit certain subscriber milestones. Those silver and gold plaques, known as Play Buttons, have become coveted status symbols for YouTubers and a welcome recognition of their hard work. But as YouTube leaders bring a new focus on financial discipline, the... About 12 years ago, YouTube started sending out physical awards when creators hit certain...

Art by Clark Miller

Google Searches for Its Footing in Smart Glasses as Meta Gains Ground

By Sylvia Varnham O'Regan · Oct 1, 2024 9:15am PDT · 4 comments

Earlier this year, Google staffers began pitching their counterparts at Samsung—a longtime Google hardware partner—on an idea for a new collaboration between the companies: high-tech glasses. At the time, another big tech company, Meta Platforms, was starting to see success from its own Ray-Ban smart glasses, which allowed people to... Earlier this year, Google staffers began pitching their counterparts at Samsung—a longtime...

Sam Altman at Italian Tech Week last Wednesday in Turin, Italy. Photo by Stefano Guidi/Getty.

The OpenAI Researchers Who Matter Now

By Stephanie Palazzolo · Oct 1, 2024 7:00am PDT

Sam Altman at Italian Tech Week last Wednesday in Turin, Italy. Photo by Stefano Guidi/Getty.

The OpenAI Researchers Who Matter Now

By Stephanie Palazzolo · Oct 1, 2024 7:00am PDT

Before we get to today’s newsletter, just a reminder that OpenAI will be holding its Dev Day event in San Francisco today. (This is just one of three developer-focused events the ChatGPT maker is hosting over the next two months, compared to the one-and-done approach from last year.)For those hoping for GPT-5, don’t hold your breath. Romain Huet... Before we get to today’s newsletter, just a reminder that OpenAI will be holding its Dev Day...

Lightspeed Venture Partners co-founder and partner, Ravi Mhatre. Photo via Flickr/TechCrunch.

Lightspeed, After Backing xAI and Anthropic, Aims to Raise $7 Billion in New Funds

By Laura Mandaro · Oct 1, 2024 6:00am PDT · 3 comments

Lightspeed Venture Partners is raising money for three new funds that could total around $7 billion, according to a person who has discussed the fundraising with the firm’s partners. It’s the latest firm seeking to raise billions after a period when institutional investors pulled back from venture capital. Close to 40% of the new... Lightspeed Venture Partners is raising money for three new funds that could total around $7...

Sam Altman speaking in Turin, Italy last Wednesday. Photo by Getty.

OpenAI’s Endless Fundraising

By Martin Peers · Sep 30, 2024 5:00pm PDT

If you’re like me, you’re getting political fundraising text messages roughly every 15 minutes these days. But political candidates aren’t the only people raising money aggressively right now. There are also AI startup executives, most obviously the folks at OpenAI. Today we scooped the news that SoftBank is putting $500 million into OpenAI as... If you’re like me, you’re getting political fundraising text messages roughly every 15 minutes...

OpenAI CEO Sam Altman and Microsoft CTO Kevin Scott. Photo by AFP via Getty.

Why Microsoft Will Likely Keep Its Iron Grip on OpenAI’s Future Profits; Newsom’s Strange AI Veto

By Aaron Holmes, Rocket Drew and Josh Koehn · Sep 30, 2024 7:20am PDT

As OpenAI nears a much-needed capital raise, some investors in the company have privately voiced hope that its largest shareholder and benefactor, Microsoft, will relinquish its rights to a large share of OpenAI’s future profits—an arrangement that effectively lowers the value of shares held by newer investors.I wouldn’t bet on it.Microsoft has... As OpenAI nears a much-needed capital raise, some investors in the company have privately voiced...

Masayoshi Son, CEO of SoftBank. Photo by Getty

SoftBank to Invest $500 Million in OpenAI

By Kate Clark and Cory Weinberg · Sep 30, 2024 6:30am PDT

Masayoshi Son, CEO of SoftBank. Photo by Getty

SoftBank to Invest $500 Million in OpenAI

By Kate Clark and Cory Weinberg · Sep 30, 2024 6:30am PDT

SoftBank’s Vision Fund has agreed to invest $500 million in OpenAI’s latest funding round, which values the developer of ChatGPT at $150 billion before the investment, a person familiar with the deal said. The deal would represent SoftBank’s first investment in the Sam Altman-led company. SoftBank would join lead investor... SoftBank’s Vision Fund has agreed to invest $500 million in OpenAI’s latest funding...

Photo by Smith Collection/Gado/Getty.

Why Waymo Could Speed Past Uber

By Anita Ramaswamy · Sep 30, 2024 6:00am PDT · 4 comments

The race to get self-driving taxis on the road is accelerating. Elon Musk’s Tesla plans to reveal its long-awaited prototype of one such vehicle on Oct. 10, while Alphabet-owned Waymo announced last month that its autonomous vehicles soon would be available for Uber customers in Austin, Texas, and Atlanta. These moves, along with... The race to get self-driving taxis on the road is accelerating. Elon Musk’s Tesla plans to...

GM plans to produce the consumer version of its electric Silverado here in 2026. Photo: Bill Pugliano/Getty

Exclusive From The Electric: Inside GM’s Do-Over

By Steve LeVine · Sep 30, 2024 4:30am PDT · 2 comments

Last November, Ed Duby took over battery production at General Motors. He found an effort in crisis: The company was on track to sell fewer than a quarter of the 400,000 electric vehicles it had predicted for 2023, and the numbers were unlikely to improve anytime soon. The problem wasn’t consumer demand. Rather, GM had fumbled production of... Last November, Ed Duby took over battery production at General Motors. He found an effort in...

Art by Clark Miller

OpenAI’s Weird Week

By Nick Wingfield · Sep 28, 2024 7:00am PDT

Welcome, Weekenders! In this newsletter:•The Big Read: How YouTuber Mark Rober got inside the heads of Silicon Valley families. • The Top 5: The best trails to use e-bikes to get out of your cars and smell Mother Nature. • Plus: A new album from electronic artist Jamie xx; a Batman villain spreads his wings; and the origins of reality... Welcome, Weekenders! In this newsletter:•The Big Read: How YouTuber Mark Rober got inside the...

Art by Clark Miller

Where Techies Who Love E-Bikes Should Travel

By Todd Plummer · Sep 28, 2024 5:00am PDT · 7 comments

Art by Clark Miller

Where Techies Who Love E-Bikes Should Travel

By Todd Plummer · Sep 28, 2024 5:00am PDT · 7 comments

You’ve seen them everywhere—and have probably even dodged a couple while crossing Market Street in San Francisco or Fifth Avenue in New York. Electric bikes have become a de rigueur mode of transportation for the office-going set, affording even those who routinely skip leg day at the gym the ability to sail through SoMa without... You’ve seen them everywhere—and have probably even dodged a couple while crossing...

Mark Zuckerberg wearing prototype AR glasses at Meta Connect on Wednesday. Photo by Bloomberg via Getty.

Meta’s Costly Reality

By Martin Peers · Sep 27, 2024 3:00pm PDT

Mark Zuckerberg has become a watch nerd. In his appearance at Connect on Wednesday, he was flashing a timepiece identified by Redditors as this one costing tens of thousands of dollars, at least the third such ultrapricey watch he has sported lately. It’s all part of a recent style makeover that also includes gold chains and loud shirts. It’s... Mark Zuckerberg has become a watch nerd. In his appearance at Connect on Wednesday, he was...

Mark Rober. Art by Clark Miller. Rober image via Getty

How a YouTuber Got Inside the Heads of Silicon Valley’s Families

By Annie Goldsmith · Sep 27, 2024 9:16am PDT · 3 comments

Last fall, Satyajeet Salgar, the director of product management and user experience at Google AI, was huddled outside his kids’ Palo Alto, Calif., elementary school with a group of parents who were there for a class performance. The parents began talking about their kids’ favorite shows, and the conversation landed on the topic of... Last fall, Satyajeet Salgar, the director of product management and user experience at Google AI,...

Notion's Simon Last (left) and Canva's Cameron Adams (right). Photos via Sequoia and YouTube.

Pro Weekly: The Co-Founders Not Running Silicon Valley

By Akash Pasricha · Sep 27, 2024 8:00am PDT

Last week, my colleague Jon Victor published our Notion Org Chart, along with insights from his interview with co-founder and CEO Ivan Zhao. One of Jon’s findings about co-founder Simon Last fascinated me.Last is the only C-suite executive at Notion who has no direct reports. He doesn’t even have a title—he’s simply listed as a co-founder. Zhao... Last week, my colleague Jon Victor published our Notion Org Chart, along with insights from his...

Art by Shane Burke.

Wall Street Hunts for Its Blockchain ‘Killer App’

By Yueqi Yang · Sep 27, 2024 6:00am PDT · 3 comments

Art by Shane Burke.

Wall Street Hunts for Its Blockchain ‘Killer App’

By Yueqi Yang · Sep 27, 2024 6:00am PDT · 3 comments

Two years ago, a behind-the-scenes giant in U.S. financial markets went live with one of Wall Street’s biggest and most ambitious blockchain initiatives. Known as Project Ion, the effort aimed to use blockchain to revolutionize settlement of stock trades, when buyers fork over the cash and get share certificates. Firms ranging from big... Two years ago, a behind-the-scenes giant in U.S. financial markets went live with one of Wall...

Mira Murati with Sam Altman last year. Photo by AP

Altman’s Spin Versus Reality

By Martin Peers · Sep 26, 2024 5:00pm PDT · 1 comment

Talk about staying above the fray. Even as the latest rash of senior executive departures from OpenAI sparks a fresh round of questions about the company’s management, CEO Sam Altman was in Turin, Italy, appearing at an event to do what he does best: talk about the future.In an onstage interview, Altman did address the latest departures at... Talk about staying above the fray. Even as the latest rash of senior executive departures from...

Sam Altman, Mira Murati, Greg Brockman and Ilya Sutskever. Photos by Getty.

Behind OpenAI’s Staff Churn: Turf Wars, Burnout, Compensation Demands

By Stephanie Palazzolo, Erin Woo and Amir Efrati · Sep 26, 2024 3:10pm PDT · 8 comments

Last fall, members of OpenAI’s board of directors had had enough of the rumblings inside the artificial intelligence startup about CEO Sam Altman’s management style. They began questioning staffers, including Chief Technology Officer Mira Murati, about how Altman operated, including his tendency to pit other leaders against each... Last fall, members of OpenAI’s board of directors had had enough of the rumblings inside...

Departed OpenAI CTO Mira Murati. Photo via Getty.

OpenAI’s Investors Are Hanging On For the Ride

By Kate Clark · Sep 26, 2024 3:01pm PDT

OpenAI's investors are accustomed to turmoil. There’s been a steady stream of high-profile departures since last November, when CEO Sam Altman was fired in a board coup of cinematic proportions. That may be why its backers, though surprised by this week’s resignation of Chief Technology Officer Mira Murati and two other top technical... OpenAI's investors are accustomed to turmoil. There’s been a steady stream of high-profile...

YouTube CEO Neal Mohan. Photo: YouTube

YouTube Makes It Easier to Watch Creators on TV Screens

By Kaya Yurieff · Sep 26, 2024 2:00pm PDT · 1 comment

YouTube CEO Neal Mohan. Photo: YouTube

Creator Economy

YouTube Makes It Easier to Watch Creators on TV Screens

By Kaya Yurieff · Sep 26, 2024 2:00pm PDT · 1 comment

YouTubers are making more videos with the TV screen in mind. Now YouTube is rewarding them by making it easier for fans to find and watch their favorite videos on connected TVs.Last week, it announced creators will soon be able to organize their content into seasons and episodes on YouTube TV, its paid streaming service that offers live TV and... YouTubers are making more videos with the TV screen in mind. Now YouTube is rewarding them by...