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.

What Verizon’s Numbers Mean for Apple

By Martin Peers · Jul 22, 2024 5:00pm PDT · 1 comment

After the weekend excitement over presidential politics, we’re getting back to business. And here’s a notable nugget from Verizon’s quarterly earnings today that should be of interest to Apple shareholders and other iPhone watchers: The number of Verizon subscribers upgrading their phones fell 13% in the quarter compared to a year earlier.That... After the weekend excitement over presidential politics, we’re getting back to business. And here...

Perplexity CEO Aravind Srinivas. Photo via Getty.

Condé Nast Sends Cease-and-Desist Letter to AI Search Engine Perplexity

By Sahil Patel and Stephanie Palazzolo · Jul 22, 2024 10:19am PDT · 2 comments

Magazine giant Condé Nast has sent a cease-and-desist letter to artificial intelligence search engine Perplexity, demanding that it stop using content from Condé Nast publications in its search results, according to a copy of the letter obtained by The Information. Condé Nast’s publications include The New Yorker,... Magazine giant Condé Nast has sent a cease-and-desist letter to artificial intelligence...

Photo via Getty.

AI VCs Go Green

By Stephanie Palazzolo · Jul 22, 2024 7:00am PDT

Silicon Valley VCs don't exactly have the best rep when it comes to putting causes like helping the environment or fixing income inequality ahead of financial returns and technological advancements.But the artificial intelligence boom has forced these investors to focus on clean power. More sources of renewable energy are necessary to power... Silicon Valley VCs don't exactly have the best rep when it comes to putting causes like helping...

Art via Reddit/Shane Burke.

Reddit Teams Up With the NFL, NBA to Boost Revenue

By Sahil Patel · Jul 22, 2024 6:00am PDT

Art via Reddit/Shane Burke.

Reddit Teams Up With the NFL, NBA to Boost Revenue

By Sahil Patel · Jul 22, 2024 6:00am PDT

Reddit, known for its chat forums on everything from Proust to Wall Street stocks, is going big on sports. The newly public social media company has struck deals with sports leagues including the NFL, NBA and MLB to get videos and other content for its social media site, according to Reddit’s chief operating officer, Jen Wong. Reddit will... Reddit, known for its chat forums on everything from Proust to Wall Street stocks, is going big...

Photo: Alex Wong/Getty

The Electric: Don’t Be Surprised to See Chinese EVs Manufactured in the U.S.

By Steve LeVine · Jul 22, 2024 4:30am PDT

The two most recent U.S. presidents have been hostile to electric vehicles and batteries from China, with the Biden administration slapping big tariffs on Chinese carmakers to keep their products out of the U.S. But in a surprising turnabout, support in the U.S. and Europe is now growing for welcoming local Chinese EV and battery manufacturing,... The two most recent U.S. presidents have been hostile to electric vehicles and batteries from...

Vice President Kamala Harris at a campaign event in Las Vegas on July 9. Photo by Justin Sullivan/Getty Images.

Tech Democrats Looking for a Reset with Kamala Harris

By Martin Peers · Jul 21, 2024 1:49pm PDT · 3 comments

Biden’s sudden departure from the presidential race sparked intense chatter this afternoon about his successor. Techies don’t seem to be of one mind (not surprisingly), but a good number seem to be backing Kamala Harris, whom Biden himself endorsed.According to several of my colleagues, who’ve been checking in with tech people today, some people... Biden’s sudden departure from the presidential race sparked intense chatter this afternoon about...

Musk’s Bogus California Exodus

Musk’s Bogus California Exodus

By Abram Brown · Jul 20, 2024 7:00am PDT

Welcome, Weekenders! In this newsletter:Dawn of the Silicon Valley superbabyNew tech mogul must-have: a Jensen jacket Plus: A witty, extremely online weatherman; the ladies at Luxor; and Nicolas Cage goes Hannibal.Elon Musk is pledging to leave California—and to take his companies with him. As with many Musk declarations, his vow seems more... Welcome, Weekenders! In this newsletter:Dawn of the Silicon Valley superbabyNew tech mogul...

Art by Clark Miller

Silicon Valley’s Must-Have Fashion Item: A Leather Jacket as Cool as Jensen’s

By Antonina Jedrzejczak · Jul 20, 2024 6:00am PDT · 1 comment

Art by Clark Miller

Silicon Valley’s Must-Have Fashion Item: A Leather Jacket as Cool as Jensen’s

By Antonina Jedrzejczak · Jul 20, 2024 6:00am PDT · 1 comment

A statement leather jacket is arguably one of the most fundamental pieces in any wardrobe. Just ask Jensen Huang. It’s close to impossible to find a photo of the Nvidia CEO from the last decade in anything other than a black classic zip-up or a more lightweight café racer-style jacket. He occasionally gets a little more... A statement leather jacket is arguably one of the most fundamental pieces in any wardrobe. Just...

A Meta Connect 2023 attendee wears Ray-Ban Meta smart glasses. Photo by Josh Edelson/AFP via Getty.

Meta’s AI Weapon; CrowdStrike Strikes Out

By Martin Peers · Jul 19, 2024 3:38pm PDT

The massive computer outage on Friday that grounded airlines and caused other kinds of havoc around the world won’t do anything for the public’s trust in tech. And it’s certainly bad news for CrowdStrike, which otherwise has been a highflier in cybersecurity. CrowdStrike stock dropped 10% today. For more on that episode, see our story here.On a... The massive computer outage on Friday that grounded airlines and caused other kinds of havoc...

Madrid-Barajas Airport earlier today. Photo by Diego Radames/Anadolu via Getty.

CrowdStrike Crisis Gives Rivals Opening to Pounce

By Aaron Holmes · Jul 19, 2024 12:57pm PDT · 2 comments

CrowdStrike has long dominated the market for cloud-based software meant to protect customers’ networks from hackers, known as endpoint detection. But a botched software update on Friday that brought businesses from airlines to banks to a screeching halt may loosen the $74 billion market capitalization company’s grip on those... CrowdStrike has long dominated the market for cloud-based software meant to protect...

Trump and the PayPal Mafia

By Jessica E. Lessin · Jul 19, 2024 10:28am PDT · 1 comment

Early in this episode, Dave raised an interesting question: Why is it that many of the tech leaders who support Trump worked at PayPal? This week, the gang shares what we are hearing through the backchannels about this fascinating moment. I hope you enjoy. Apple Spotify Early in this episode, Dave raised an interesting question: Why is it that many of the tech...

Art by Clark Miller

Dawn of the Silicon Valley Superbaby

By Julia Black and Margaux MacColl · Jul 19, 2024 9:00am PDT · 7 comments

Art by Clark Miller

Dawn of the Silicon Valley Superbaby

By Julia Black and Margaux MacColl · Jul 19, 2024 9:00am PDT · 7 comments

When venture capitalist Jack Abraham first began dating his wife, Gabriella Massamillo, he insisted on one condition: that when they were ready to have children, she’d be willing to conceive using in vitro fertilization. Abraham had lost both his mother and his aunt at a young age to ovarian cancer, linked to a rare mutation in their... When venture capitalist Jack Abraham first began dating his wife, Gabriella Massamillo, he...

Left to right: Everett Randle of Kleiner Perkins, Amanda Robson formerly of Cowboy Ventures and Dan Levine of Accel. Photos via listed firms.

Pro Weekly: Our Next GPs Have Been Busy

By Akash Pasricha · Jul 19, 2024 8:00am PDT

In March, we published The Next GPs, our list of 19 rising stars in venture capital who we think are likely to take leadership roles as general partners of VC firms in coming years. It’s a group I’ve been watching closely. In less than four months since we introduced the list, some of these VCs have been promoted or made flashy investments. Two... In March, we published The Next GPs, our list of 19 rising stars in venture capital who we think...

Art by Clark Miller

Why Silicon Valley’s Democrats Lost Their Voice on Trump

By Nick Wingfield and Cory Weinberg · Jul 19, 2024 6:00am PDT · 13 comments

It wasn't so long ago that being a supporter of Donald Trump’s presidential candidacy in Democrat-leaning Silicon Valley—or even having a loose affiliation with him—was the kind of thing that earned you dirty looks, a pink slip from an employer and stern advice to rethink your life choices. In 2016, Reed Hastings—the... It wasn't so long ago that being a supporter of Donald Trump’s presidential candidacy...

Bridgerton's Luke Newton and Nicola Coughlan. Photo by Lucy North/PA Images via Getty.

Netflix's Advertising Cloud Looms Larger

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

Forget presidential politics—let’s talk about the third season of “Bridgerton.” The fun series about romance in quasi-Regency London was a big draw for Netflix in the second quarter, the video-streaming service noted today as it reported another solid quarter. Revenue rose 17% year on year, subscriber numbers grew about the same and its cash... Forget presidential politics—let’s talk about the third season of “Bridgerton.” The fun series...

Wintermute co-founder and CEO, Evgeny Gaevoy. Photo by Joseph Nair/Bloomberg via Getty Images.

Crypto Trading Giant Wintermute In Fundraising Talks

By Yueqi Yang · Jul 18, 2024 4:14pm PDT

Wintermute co-founder and CEO, Evgeny Gaevoy. Photo by Joseph Nair/Bloomberg via Getty Images.

Crypto Trading Giant Wintermute In Fundraising Talks

By Yueqi Yang · Jul 18, 2024 4:14pm PDT

Wintermute Trading, the crypto trading firm that has become a dominant market marker since the collapse of FTX, has been in talks to raise fresh money in a funding round, according to investors with knowledge of the process. The firm has been discussing a share sale of $100 million, with some of that money going to existing shareholders.... Wintermute Trading, the crypto trading firm that has become a dominant market marker since the...

A TikTok event at VidCon last month. Photo by Philip Farone via Getty.

Creator Economy

TikTok Faces Challenges in Advertising Upfronts

By Sahil Patel · Jul 18, 2024 3:36pm PDT

Amazon’s move to make ads within Prime Video the default for customers who don’t pay extra upended the streaming TV advertising market earlier this year. Lately I’ve been hearing more about the repercussions—namely that this surge of ad inventory will hurt TikTok’s ability to win some of the ad dollars slated for TV and streaming services. ... Amazon’s move to make ads within Prime Video the default for customers who don’t pay extra...

Hans Swildens. Photo By Liz Hafalia/The San Francisco Chronicle via Getty.

What to Do With Startups Whose Revenue Has Stalled

By Cory Weinberg · Jul 18, 2024 3:00pm PDT

Even with a dormant market for initial public offerings, shareholders in mature and highly valued startups still have been able to cash out if their startups are growing at a rapid clip. They’ve had the opportunity to sell shares in secondary rounds at fast-growing Figma, Databricks, Canva and Scale AI. Some investors are getting the chance... Even with a dormant market for initial public offerings, shareholders in mature and highly valued...

Mei Cai. Photo via General Motors

Key General Motors Battery Executive Resigns

By Steve LeVine · Jul 18, 2024 2:05pm PDT

Mei Cai, who led the team that developed the next-generation battery powering General Motors’ electric vehicles, has resigned, the company confirmed Thursday. The move comes five months after GM hired Kurt Kelty, a Tesla veteran, to run its battery development efforts as vice president of battery. The China-born Cai, a 24-year GM... Mei Cai, who led the team that developed the next-generation battery powering General...

Art by Clark Miller. Altman via Getty Images.

OpenAI Has Talked to Broadcom About Developing New AI Chip

By Qianer Liu and Amir Efrati · Jul 18, 2024 12:21pm PDT · 2 comments

Art by Clark Miller. Altman via Getty Images.

OpenAI Has Talked to Broadcom About Developing New AI Chip

By Qianer Liu and Amir Efrati · Jul 18, 2024 12:21pm PDT · 2 comments

Last year, as the world’s top artificial intelligence developers were racing to speed up their work using ever-bigger clusters of computers, OpenAI CEO Sam Altman was trying to play a longer game. He decided to start a new company that could develop and produce a new AI chip and help set up chip factories to make them and data centers to... Last year, as the world’s top artificial intelligence developers were racing to speed up...