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

Philippe Laffont at The Information's Private Capital Conference in April. Photo by Nicole Pereira/The Information.

Coatue Founder Laffont Leaves Board of TikTok Parent ByteDance

By Jing Yang and Juro Osawa · Aug 31, 2024 9:35am PDT

Coatue Management founder Philippe Laffont has left the board of ByteDance, the parent of TikTok, according to the company’s website. At the same time, ByteDance has added a new director, French telecom billionaire Xavier Niel. Laffont’s departure follows The Information’s report last week that Coatue was considering selling a... Coatue Management founder Philippe Laffont has left the board of ByteDance, the parent of TikTok,...

Art by Clark Miller

The Risk Guru Rides Again

By Abram Brown · Aug 31, 2024 7:00am PDT

Welcome, Weekenders! In this newsletter:• The Big Read: A videogame that fuels fake wars• HBO’s surprise Sunday night wager—and what else we’re watching this fallPlus: A deepfake music video; Apple’s little-loved masterpiece; and the moment when Silicon Valley saved the military. Oh! Look who’s back in our lives: Nate Silver, the... Welcome, Weekenders! In this newsletter:• The Big Read: A videogame that fuels fake wars• HBO’s ...

Art by Clark Miller (Photos: HBO)

Media and Entertainment

HBO’s Surprise Sunday Night Wager

By Josh Duboff · Aug 31, 2024 5:00am PDT · 2 comments

Konrad Kay and Mickey Down were out at a party near the end of 2023 when they received word from HBO that their show, “Industry,” would move from its home on Monday evenings to the television industry’s premier time slot: 9 p.m. on Sunday, a position HBO had previously given to the likes of “Succession,” “Game... Konrad Kay and Mickey Down were out at a party near the end of 2023 when they received word from...

California State Senator Scott Wiener. Photo by Bloomberg via Getty.California State Senator Scott Wiener. Photo by Bloomberg via Getty.

What California AI Bill Could Mean

By Martin Peers · Aug 30, 2024 4:35pm PDT

California State Senator Scott Wiener. Photo by Bloomberg via Getty.California State Senator Scott Wiener. Photo by Bloomberg via Getty.

What California AI Bill Could Mean

By Martin Peers · Aug 30, 2024 4:35pm PDT

The constantly humming AI-news machine revved up a notch this week, what with Nvidia’s earnings report, news about OpenAI’s fundraising and the first ever data about how many people are using Meta AI. But potentially the biggest development was the passage in the California legislature of SB 1047, aimed at addressing the risks of AI. It has... The constantly humming AI-news machine revved up a notch this week, what with Nvidia’s earnings...

Stills from our subscriber call on SB 1047. Photo via The Information.

California’s AI Bill Won’t Harm Open Source, Says Author

By Laura Mandaro · Aug 30, 2024 4:22pm PDT

A California bill that could penalize the makers of large artificial intelligence models if they’re found to cause harm is headed to California Gov. Gavin Newsom, where its outcome is uncertain. “I do not know what the governor will do,” said Scott Wiener, the state senator from San Francisco who authored SB 1047, in a... A California bill that could penalize the makers of large artificial intelligence models if...

An AI rendering of the gang at Burning Man. Credit: Runway and Pica.

Telegram, Free Speech and Its Limits

By Jessica E. Lessin · Aug 30, 2024 10:36am PDT

Should you have free speech inside America if you are not an American? That was one of the meaty questions we discussed this week, following the arrest of Telegram founder Pavel Durov. The gang took the opportunity to check in on deeper questions that remain unanswered about freedom of speech and censorship. While the topic can feel... Should you have free speech inside America if you are not an American? That was one of...

Art by Clark Miller

The Aging Videogame That Fuels Fake Wars

By Simon Parkin · Aug 30, 2024 9:00am PDT

A few months ago, a user from Chongquing, China, posted a video to Chinese social media platform Weibo, which has more than half a billion active users. The grainy 26-second clip appears to have been filmed on a primitive camcorder: We see a barrage of rockets ascend from a small vessel into a dusky sky, then streak toward a nearby aircraft... A few months ago, a user from Chongquing, China, posted a video to Chinese social media platform...

Left to right: Harvey AI co-founders Winston Weinberg and Gabriel Pereyra, Hebbia AI founder George Sivulka, and Minna Song, co-founder of Elise AI. Photos via Harvey AI, Hebbia AI and Elise AI.

Pro Weekly: What This Summer's AI Deals Reveal

By Akash Pasricha · Aug 30, 2024 8:00am PDT

Left to right: Harvey AI co-founders Winston Weinberg and Gabriel Pereyra, Hebbia AI founder George Sivulka, and Minna Song, co-founder of Elise AI. Photos via Harvey AI, Hebbia AI and Elise AI.

Pro Weekly: What This Summer's AI Deals Reveal

By Akash Pasricha · Aug 30, 2024 8:00am PDT

Summer can feel slow, but artificial intelligence investors have been busy over the past two months. Venture capitalists invested nearly $876 million in generative AI startups in July and August, according to The Information’s Generative AI Database.That’s 18% more than investors put into GenAI startups in July and August 2023, which was a 90%... Summer can feel slow, but artificial intelligence investors have been busy over the past two...

Amazon CEO Andy Jassy. Art by Mike Sullivan

Why Amazon Decided to Cozy Up to Meta and TikTok

By Theo Wayt · Aug 30, 2024 6:00am PDT · 4 comments

Over the past two years, Amazon CEO Andy Jassy has sat down with some of the most high-profile CEOs in the social media business to discuss a range of topics including Amazon Web Services, which many of the social media companies use. Also on the agenda: letting Amazon sell its goods within TikTok, Instagram and other apps through a new... Over the past two years, Amazon CEO Andy Jassy has sat down with some of the most high-profile...

The California State Capitol building in Sacramento. Photo via Getty.

Passage of California AI Bill Sends Shivers Across Tech Industry

By Stephanie Palazzolo and Erin Woo · Aug 29, 2024 5:12pm PDT · 5 comments

Artificial intelligence developers are waking up to the potential implications of the California legislature’s passage on Thursday of a first-of-its-kind bill. SB 1047 would require developers to anticipate what their customers do with their AI and to pay steep fines if the software causes harm—for instance, if someone hacks into an... Artificial intelligence developers are waking up to the potential implications of the California...

Sam Altman at WWDC this year. Photo via Getty.

Why OpenAI Needs an IPO

By Cory Weinberg · Aug 29, 2024 5:00pm PDT

The elite circle of the world’s most valuable private companies face a steady chorus of will-they-or-won’t-they IPO chatter from investors and bankers (and me). It helps to cut through the rumors by thinking through the reasons why a company might want or need to go through the expensive ritual (lawyer fees, new scrutiny, dealing with the... The elite circle of the world’s most valuable private companies face a steady chorus of...

Sam Altman at the Allen & Co. Media and Technology Conference in Sun Valley, Idaho in July. Photo by Bloomberg via Getty.

OpenAI's Astounding Price Tag

By Kate Clark · Aug 29, 2024 3:13pm PDT · 8 comments

Sam Altman at the Allen & Co. Media and Technology Conference in Sun Valley, Idaho in July. Photo by Bloomberg via Getty.

OpenAI's Astounding Price Tag

By Kate Clark · Aug 29, 2024 3:13pm PDT · 8 comments

For weeks we’ve been talking to investors about an expected funding round for OpenAI. The mega financing is finally happening! CEO and co-founder Sam Altman has told employees the company is raising more money, according to a person with direct knowledge. But not every investor approves of the staggering new valuation. For weeks we’ve been talking to investors about an expected funding round for OpenAI. The mega...

Colin Kaepernick, Lumi co-founder and former NFL quarterback. Photo courtesy of subject.

Creator Economy

Colin Kaepernick Is Hiring for His New Creator AI Startup

By Kaya Yurieff · Aug 29, 2024 2:03pm PDT · 1 comment

Former San Francisco 49ers quarterback Colin Kaepernick has spent the past several years building his own media and publishing companies. The efforts showed him some of the challenges people face when trying to get their creations out into the world, from production costs to publishers shooting down their ideas. Last month, he... Former San Francisco 49ers quarterback Colin Kaepernick has spent the past several years building...

Meta Platforms CEO Mark Zuckerberg. Photo by Getty

Meta’s AI Assistant Wins Millions of Users in Challenge to ChatGPT

By Kalley Huang · Aug 29, 2024 12:55pm PDT · 5 comments

Meta Platforms CEO Mark Zuckerberg wants his company’s artificial intelligence assistant, Meta AI, to be the world’s “most used AI assistant” by the end of this year, eclipsing OpenAI’s ChatGPT. He seems to be making progress. In early August, less than a year after its debut, Meta AI had at least 400 million... Meta Platforms CEO Mark Zuckerberg wants his company’s artificial intelligence assistant,...

Photo via Adobe

Jensen Goes on the Defensive

By Stephanie Palazzolo · Aug 29, 2024 7:10am PDT

Another quarter, another (almost) blowout earnings report from chip giant Nvidia. But this time, Wall Street isn’t too appreciative.Nvidia stock opened Thursday morning down a few percentage points, following a slightly bigger sell-off in after-hours trading Wednesday night during Nvidia’s call. What gives? After all, revenue in the last quarter... Another quarter, another (almost) blowout earnings report from chip giant Nvidia. But this time,...

Palantir CEO, Alex Karp. Photo by Bloomberg via Getty.

Patriots Pile Into Palantir, Driving Its Stock Too High

By Anita Ramaswamy · Aug 29, 2024 6:00am PDT · 3 comments

Palantir CEO, Alex Karp. Photo by Bloomberg via Getty.

Patriots Pile Into Palantir, Driving Its Stock Too High

By Anita Ramaswamy · Aug 29, 2024 6:00am PDT · 3 comments

Salesforce’s Marc Benioff and ServiceNow’s Bill McDermott are master salespeople. But neither has developed a cult following among individual investors as successfully as Palantir CEO Alex Karp. With his proclamations on patriotism—“We founded this company to be a ray of light to America and our Western... Salesforce’s Marc Benioff and ServiceNow’s Bill McDermott are master salespeople. But...

A production line for Amprius' silicon-based batteries. Photo: Courtesy Amprius

The Electric: A U.S. Silicon Battery Startup Exploits China’s Excess Production Capacity

By Steve LeVine · Aug 29, 2024 4:00am PDT

Kang Sun, CEO of Amprius Technologies, has contracted with three factories in China to pump out the California company’s silicon-based batteries. But on Wednesday, he was looking for a fourth in the Taiwanese capital of Taipei, in part to qualify for tax credits under the U.S. Inflation Reduction Act. Kang Sun, CEO of Amprius Technologies, has contracted with three factories in China to pump out...

Nvidia CEO, Jensen Huang. Photo by I-Hwa Cheng/AFP via Getty.

Nvidia CEO Ducks Key Questions

By Martin Peers · Aug 28, 2024 5:00pm PDT · 1 comment

For all the Nvidia watchers out there, including superfans of the stock who have kept track at bars, we’ve got good news and bad news. The good news is that Nvidia delivered another set of monster earnings. It reported top-line growth of 122%—a little above its own projections—lifting net income 168% to $16.6 billion. The bad news is that... For all the Nvidia watchers out there, including superfans of the stock who have kept track at...

Photo via Getty

Creator Economy

Influencer Marketing’s Brewing Hangover

By Julia Hornstein · Aug 28, 2024 3:32pm PDT · 1 comment

A federal court in Illinois has breathed new life into a two-year-old class action suit against a handful of creators and the makers of Blue Ice Vodka. The suit claims the Instagram influencers and the vodka maker engaged in false advertising about the “handcrafted” drink’s “health benefits” and failed to disclose their paid relationships.The... A federal court in Illinois has breathed new life into a two-year-old class action suit against a...

A Meta employee wearing the Meta Quest Pro VR Headset. Photo by Getty

Meta Considers Mixed Reality Glasses Code-Named ‘Puffin’

By Sylvia Varnham O'Regan · Aug 28, 2024 10:44am PDT · 2 comments

A Meta employee wearing the Meta Quest Pro VR Headset. Photo by Getty

Meta Considers Mixed Reality Glasses Code-Named ‘Puffin’

By Sylvia Varnham O'Regan · Aug 28, 2024 10:44am PDT · 2 comments

Meta Platforms is planning a new mixed reality device that resembles a bulky pair of glasses, according to two Meta employees. The project, internally code-named Puffin, suggests the company is looking to design an alternative to its large, heavy headsets, which so far have had limited consumer appeal. Mixed reality is a combination of augmented... Meta Platforms is planning a new mixed reality device that resembles a bulky pair of glasses,...