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

Photo via Getty

Bankers Get Creative Amid Dealmaking Lull

By Cory Weinberg and Ann Gehan · Sep 23, 2024 8:30am PDT

Startup investors have been scurrying lately to come up with new ways to turn their investments into cash, given that the conventional paths to cashing out—the startup goes public or gets acquired by a bigger tech firm—are much harder to pull off nowadays. Some investors are hoping private equity firms snap up their companies. Others are trying... Startup investors have been scurrying lately to come up with new ways to turn their investments...

Sam Altman. Photo by Getty

Altman's Master Stroke?; Why Google Should Start Worrying About ChatGPT

By Amir Efrati · Sep 23, 2024 7:00am PDT

A lot happened toward the end of last week. For starters, OpenAI CEO Sam Altman showed once again that he's a master of fundraising. Despite what seemed like a lack of investor enthusiasm just a few weeks ago, Altman appears to have gotten enough demand to raise more than $6 billion for the ChatGPT creator, at a roughly $150 billion... A lot happened toward the end of last week. For starters, OpenAI CEO Sam Altman showed once again...

Rippling's Parker Conrad. Photo via Getty Images

Why Startups like Rippling Are Choosing New Products Over IPOs

By Cory Weinberg · Sep 23, 2024 6:00am PDT · 3 comments

Parker Conrad is excited. Eager to demonstrate a corporate travel booking tool his company, Rippling, is about to introduce, Conrad opens his laptop and shows off a page that has the kind of flight and hotel selection layout familiar to anyone who has used Google Flights. “Let me show you some stuff,” he said. His company, which... Parker Conrad is excited. Eager to demonstrate a corporate travel booking tool his company,...

Group14 Technologies' anode powder plant in Sangju, South Korea, a joint venture with SK On. Photo: Courtesy Group14.

The Electric: With a $3 Billion Bet, the U.S. Strikes at the Heart of China’s EV Empire

By Steve LeVine · Sep 23, 2024 4:30am PDT

Group14 Technologies' anode powder plant in Sangju, South Korea, a joint venture with SK On. Photo: Courtesy Group14.

The Electric: With a $3 Billion Bet, the U.S. Strikes at the Heart of China’s EV Empire

By Steve LeVine · Sep 23, 2024 4:30am PDT

Chinese companies dominate the market for electric vehicle batteries and the supply chain behind them. But U.S. companies hold their own in one segment: high-silicon electrodes, which add significant driving range and charging speed. Chinese companies dominate the market for electric vehicle batteries and the supply chain behind...

Art by Clark MIller

The Sad, Meaningful Death of Oakland Sports

By Cory Weinberg · Sep 21, 2024 7:00am PDT · 1 comment

Welcome, Weekenders! In this newsletter:• The Big Read: Bling it on! The AI startup turning shoppers into jewelry designers• Power and Influence: How Ron Conway went from playing in local San Francisco politics to helping oust Joe Biden• The Top 5: The best resources for whistleblowers • Plus: Why helicopter parents are ruining their... Welcome, Weekenders! In this newsletter:• The Big Read: Bling it on! The AI startup turning...

So You Wanna Be A Whistleblower?

By Paris Martineau · Sep 21, 2024 5:00am PDT · 1 comment

Shortly after Libby Liu joined Whistleblower Aid as CEO in spring 2021, the legal nonprofit got a new client: Frances Haugen, a former Facebook product manager who, with the organization’s help, would soon become quite famous (or infamous—depending on your point of view). Founded in 2017, Whistleblower Aid is dedicated to supporting... Shortly after Libby Liu joined Whistleblower Aid as CEO in spring 2021, the legal nonprofit got a...

Elon Musk. Photo by Marc Piasecki/Getty.

Trumpism Is Here to Stay in Tech, Even If Trump Loses

By Cory Weinberg · Sep 20, 2024 3:00pm PDT · 7 comments

Just after Marc Andreessen and Ben Horowitz surprised the tech world by backing Donald Trump for the presidency a few months ago, liberals took glee in the fact that the two venture capitalists made the political equivalent of an investment no-no: They bought at the top of the market. After their endorsement, Joe Biden dropped out, paving... Just after Marc Andreessen and Ben Horowitz surprised the tech world by backing Donald Trump for...

Art by Clark Miller.

The Silicon Valley Godfather Who Helped Push Out the President

By Josh Koehn · Sep 20, 2024 9:00am PDT · 5 comments

Art by Clark Miller.

Power and Influence

The Silicon Valley Godfather Who Helped Push Out the President

By Josh Koehn · Sep 20, 2024 9:00am PDT · 5 comments

As early morning darkness still covered the Mediterranean, Ron Conway’s phone started to blow up. The billionaire venture capitalist was asleep on a yacht off the Italian coast. But six time zones away in Atlanta, President Joe Biden was self-immolating in a live TV debate against former President Donald Trump. When Conway awoke, he wasted... As early morning darkness still covered the Mediterranean, Ron Conway’s phone started to...

Pro Weekly: Soaring Optimism About Tech Companies

Pro Weekly: Soaring Optimism About Tech Companies

By Akash Pasricha · Sep 20, 2024 8:00am PDT

What a difference a month makes. Respondents to our September survey were markedly more optimistic than in August about 13 of the 14 big tech companies we regularly ask them about. The exception was Coinbase, where reader sentiment was essentially unchanged. The results mirrored a surge in optimism among readers compared with last month... What a difference a month makes. Respondents to our September survey were markedly more...

Photo by David Paul Morris/Bloomberg via Getty.

WhatsApp Dominates Meta AI Use

By Kalley Huang · Sep 20, 2024 7:00am PDT

A year after Meta Platforms introduced its artificial intelligence assistant, a picture is emerging of how people are using it—and how that differs from usage of OpenAI’s ChatGPT, the leading conversational AI. Most people who use Meta AI daily do so through WhatsApp, according to a person who has seen recent internal data; the... A year after Meta Platforms introduced its artificial intelligence assistant, a picture is...

Art by Clark Miller

Bling It On: An AI Startup Turns Shoppers Into Jewelry Designers

By Ann Gehan · Sep 20, 2024 6:00am PDT · 7 comments

When I met Mariam Naficy last week, she couldn’t wait to show me her new jewelry. She had designed the earrings she was wearing herself. And her bracelet. And her ring for good measure. Technically, Naficy—whose keen eye for e-commerce trends led her to found the early online makeup retailer Eve.com and Minted, which makes custom... When I met Mariam Naficy last week, she couldn’t wait to show me her new jewelry. She had...

Mathias Döpfner. Photo by Chesnot/Getty Images.

KKR Grabs the Best of Axel Springer

By Martin Peers · Sep 19, 2024 5:00pm PDT

Mathias Döpfner. Photo by Chesnot/Getty Images.

KKR Grabs the Best of Axel Springer

By Martin Peers · Sep 19, 2024 5:00pm PDT

Smart money and digital media don’t always mix well. Just ask KKR. Five years after the private equity firm, together with the Canada Pension Plan, bought a roughly 49% stake in German media giant Axel Springer, parent of Business Insider and Politico, the two investors are fleeing the scene.That might be hyperbolic. Technically what’s happening... Smart money and digital media don’t always mix well. Just ask KKR. Five years after the private...

Sam Altman. Photo by Bloomberg via Getty.

OpenAI Asks Investors to Fork Over $250 Million

By Kate Clark · Sep 19, 2024 3:06pm PDT

Surely if you’re a reader of this newsletter, you know by now that OpenAI is in late-stage talks to raise a mammoth funding round that could value it at $150 billion. What you may not know is that the company has asked investors to fork over a minimum of $250 million, according to people with knowledge of the terms. To recap, OpenAI is... Surely if you’re a reader of this newsletter, you know by now that OpenAI is in late-stage talks...

MrBeast during the MrBeast Feastables launch car giveaway at Sydney Opera House. Photo by Don Arnold/WireImage via Getty.

Creator Economy

MrBeast Fumbles His $100 Million Amazon Deal

By Kaya Yurieff · Sep 19, 2024 2:00pm PDT

It’s been quite the summer for MrBeast—and not in a good way. The latest: He and Amazon were hit with a class action lawsuit this week from five unnamed contestants on the upcoming $100 million reality competition show “Beast Games.” They cited a wide array of complaints, ranging from sexual harassment during the production to lack of overtime... It’s been quite the summer for MrBeast—and not in a good way. The latest: He and Amazon were hit...

Subscriber Survey

AI Tools Are Displacing Web Searches for The Information Readers

By Akash Pasricha · Sep 19, 2024 11:14am PDT · 2 comments

More than three-quarters of The Information readers say they have used artificial intelligence tools in place of traditional search engines such as Google, and nearly the same proportion say they use chatbots to help them at work. Readers also are more optimistic about the technology sector after a summer dip, according to The... More than three-quarters of The Information readers say they have used artificial intelligence...

Image via Grok

OpenAI's Miniature Reasoning Model is Mighty—and Affordable

By Amir Efrati · Sep 19, 2024 7:00am PDT

Image via Grok

OpenAI's Miniature Reasoning Model is Mighty—and Affordable

By Amir Efrati · Sep 19, 2024 7:00am PDT

OpenAI’s week of good news keeps getting better.After releasing an initial version of its o1 reasoning model, o1-preview, last week, new details are emerging about a smaller but faster version, o1-mini. OpenAI’s week of good news keeps getting better.After releasing an initial version of its o1...

Art by Shane Burke

AI Chip Startups, Seeking an Edge on Nvidia, Sell to Mideast

By Natasha Mascarenhas · Sep 19, 2024 6:00am PDT

Startups that design artificial intelligence chips are eyeing the Middle East as a lucrative market where they can gain an advantage on market leader Nvidia. SambaNova Systems, Cerebras and Groq—three of the dozens of startups developing AI chips—in the past year have announced deals to supply semiconductors and computer systems for... Startups that design artificial intelligence chips are eyeing the Middle East as a lucrative...

Photo: Courtesy 6K

The Electric: Facing a Skeptical Clientele, a Battery Company Builds Its Own Plant

By Steve LeVine · Sep 19, 2024 4:30am PDT

In 2020, 6K, a North Andover, Mass., materials company, launched an energy division with the aim of making the toxic and laborious manufacture of battery electrodes cheaper and cleaner. Now, after failing to win business from large established electrode makers, the company plans to make the electrodes itself.The move reflects how Western battery... In 2020, 6K, a North Andover, Mass., materials company, launched an energy division with the aim...

PayPal's San Jose headquarters. Photo via Adobe

PayPal Makes Headway With Flurry of Deals

By Martin Peers · Sep 18, 2024 5:00pm PDT

Can an old dog learn new tricks? If the old dog is PayPal, the answer seems to be yes. Under newish CEO Alex Chriss—who’s about to celebrate his first anniversary in the job—the digital payments pioneer is striking deals that should rejuvenate its business and help it challenge newer rivals such as Silicon Valley star Stripe. Today, for... Can an old dog learn new tricks? If the old dog is PayPal, the answer seems to be yes. Under...

Photo Credit: Erin Beach

AI Summit Recap: IBM’s Gil on How Enterprises Can Get AI Right

By The Information Partnerships · Sep 18, 2024 3:15pm PDT

Photo Credit: Erin Beach

Partner Content

AI Summit Recap: IBM’s Gil on How Enterprises Can Get AI Right

By The Information Partnerships · Sep 18, 2024 3:15pm PDT

As director of IBM Research and co-chair of the MIT-IBM Watson AI Lab, Dr. Dario Gil oversees one of the world’s largest research institutes. He shapes IBM’s AI vision and, as chair of the National Science Board, has a rare vantage point into the technology’s many evolutions and uses. As part of The Information’s recent... As director of IBM Research and co-chair of the MIT-IBM Watson AI Lab, Dr. Dario Gil oversees one...