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

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The Briefing

By Martin Peers, Jessica E. 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

Gavin Baker of Atreides Management and Karin Fronczke of Fidelity Investments. Photo by Alyssa Ringler.

Financing the AI Revolution

Google, xAI and OpenAI Will Be Hard for Startups to Beat, Investors Say

By Aaron Holmes · Apr 28, 2025 2:38pm PDT · 2 comments

A crop of new artificial intelligence startups, including those founded by star ex-OpenAI executives, is trying to convince investors to invest at multibillion-dollar valuations with scant products or revenue to speak of. But representatives from two investors, Fidelity and Atreides Management, say it may be too late for those firms to overcome... A crop of new artificial intelligence startups, including those founded by star ex-OpenAI...

Ryan Kolln, CEO of Appen, speaks onstage during HumanX AI Conference 2025 at Fontainebleau Las Vegas on March 11, 2025 in Las Vegas, Nevada. Image via Getty.

The Data Labeling Company Serving Chinese Model Builders

By Stephanie Palazzolo · Apr 28, 2025 7:00am PDT

It’s no secret that the success of today’s large language models wouldn’t be possible without the armies of humans creating the data, like solved math or coding problems, for the AI to be trained on. But as important as data labeling companies—such as Scale AI, Turing and Invisible—have been to the AI sector, they’re not absolutely crucial.... It’s no secret that the success of today’s large language models wouldn’t be possible without the...

Inside Palantir’s Mission-Driven Culture

By Jon Victor · Apr 28, 2025 6:00am PDT · 2 comments

Most companies valued at more than $200 billion have imposed a high degree of structure on their organizations as they have grown. That’s not the case at Palantir Technologies. Experienced staff get a say in which projects they work on, according to five people who have worked at the data analytics firm. Performance reviews don’t always occur at... Most companies valued at more than $200 billion have imposed a high degree of structure on their...

Ford's electric F-150 Lightning. Photo: Mario Tama/Getty

The Electric: With a Big Battery Claim, Ford Tries to Compete With the Chinese

By Steve LeVine · Apr 28, 2025 4:30am PDT

Ford's electric F-150 Lightning. Photo: Mario Tama/Getty

The Electric: With a Big Battery Claim, Ford Tries to Compete With the Chinese

By Steve LeVine · Apr 28, 2025 4:30am PDT

Ford has thrown its hat into the high-stakes global contest to shake up the electric vehicle industry, unveiling a battery that in just a few years’ time—if it can be scaled up cheaply—would challenge the primacy of nickel-based batteries that power most EVs in the West. Ford has thrown its hat into the high-stakes global contest to shake up the electric vehicle...

Art by Clark Miller; images via Getty.

Andreessen Horowitz Comes to Deel’s Defense in Spy Battle

By Cory Weinberg and Michael Roddan · Apr 26, 2025 8:00am PDT · 4 comments

Venture capital firm Andreessen Horowitz has landed in the middle of a nasty Silicon Valley spy scandal between one of its most successful startups and a company run by a chief executive the VC firm pushed out nearly a decade ago from the company he founded. The VC firm is playing a central role in the fight between rival human resources... Venture capital firm Andreessen Horowitz has landed in the middle of a nasty Silicon Valley spy...

Clark Miller

When Quitting is Best

By Abram Brown · Apr 26, 2025 7:00am PDT

Welcome, Weekenders! In this newsletter:• The Big Read: Netflix’s eager new friend? The NFL• The Top 5: Tech’s favorite microconferences and private summits • Plus, our Recommendations: an artworld mystery involving Dali, Basquiat and Haring; real talk about talking better; and a pair of detectives with unusual charmLet’s spend a moment to... Welcome, Weekenders! In this newsletter:• The Big Read: Netflix’s eager new friend? The NFL• The...

Clark Miller

Tech’s Favorite Microconferences and Private Summits

By Abram Brown and Sri Muppidi · Apr 26, 2025 6:00am PDT · 10 comments

Nearly anyone who’s anyone agrees: Bigger isn’t better—when it comes to conferences and networking. Indeed, the tech, media and finance elite have increasingly come to prefer an intimate gathering over attending anything giant and sponsored to death. Web Summit, Collision, South by Southwest and pretty much any event thrown by a media... Nearly anyone who’s anyone agrees: Bigger isn’t better—when it comes to conferences and...

Photo via Getty

DoorDash and Deliveroo on Brink of Marriage

By Martin Peers · Apr 25, 2025 3:45pm PDT

Photo via Getty

DoorDash and Deliveroo on Brink of Marriage

By Martin Peers · Apr 25, 2025 3:45pm PDT

We could have a big deal coming soon. DoorDash looks likely to buy UK-based meal and grocery delivery firm Deliveroo for about $3.6 billion in cash, judging by a statement from Deliveroo on Friday that was also posted by DoorDash on its website. The U.S. delivery firm made an offer at that price earlier this month and Deliveroo said Friday it “... We could have a big deal coming soon. DoorDash looks likely to buy UK-based meal and grocery...

Yichao "Peak" Ji, co-founder and Chief Scientist at Manus AI. Photo via YouTube/Manus AI.

Startup Behind Manus AI Agent Navigates U.S.-China Tensions After Benchmark Deal

By Juro Osawa · Apr 25, 2025 3:19pm PDT

Leaders of the Chinese startup behind the hit artificial intelligence agent Manus have discussed setting up new headquarters outside China, according to two people with knowledge of the discussions. The discussions signal that the startup doesn’t want its ability to do business in the U.S. to be constrained by its Chinese roots. The startup,... Leaders of the Chinese startup behind the hit artificial intelligence agent Manus have discussed...

Google and Meta on Trial, Tesla, AI and Media

By Jessica E. Lessin · Apr 25, 2025 12:29pm PDT

On this week’s episode: The Google and Meta antitrust cases shaking up the ads economy, Tesla’s bad quarter, the protein bubble and more. Apple Spotify On this week’s episode: The Google and Meta antitrust cases shaking up the ads economy, Tesla’s...

Art by Clark Miller.

The NFL Loves Netflix. But Does Netflix Want to Love the NFL?

By Sahil Patel · Apr 25, 2025 9:03am PDT

A couple weeks ago, a steady stream of media and sports heavyweights could be found at the white-marbled Breakers hotel in Palm Beach, Fla., where the NFL was hosting its annual owners’ meetings. The conclave is a big deal for the league—an occasion for it to hash out its multibillion dollar business deals and discuss what the future may... A couple weeks ago, a steady stream of media and sports heavyweights could be found at the...

Netflix Defies Big Tech Pessimism

Netflix Defies Big Tech Pessimism

By Akash Pasricha · Apr 25, 2025 8:00am PDT

Netflix Defies Big Tech Pessimism

Netflix Defies Big Tech Pessimism

By Akash Pasricha · Apr 25, 2025 8:00am PDT

Here’s a statistic that sums up how gloomy The Information’s readers are feeling about big tech companies right now: Sentiment scores comparing the proportion of optimists and pessimists for 11 of the 14 companies we track are the most negative we’ve seen since we started our surveys in February 2023. That includes particularly bleak readings... Here’s a statistic that sums up how gloomy The Information’s readers are feeling about big tech...

Scale AI CEO Alexandr Wang Photo via AP.

Scale AI Missed Revenue and Profit Targets Ahead of Share Sale

By Cory Weinberg and Kalley Huang · Apr 25, 2025 6:00am PDT

Scale AI, the fast-growing data-labeling startup, missed its revenue and profit targets last year, but its investors are undeterred. The company is close to finalizing about a $150 million share sale, largely to existing investors, that values it at around $25 billion, up about 80% from a year ago. Scale AI told prospective investors early last... Scale AI, the fast-growing data-labeling startup, missed its revenue and profit targets last...

Photo by Getty

What Google’s First-Quarter Numbers Revealed

By Martin Peers · Apr 24, 2025 5:00pm PDT

In earnings season, which we’re in the midst of right now, no (bad) news is good news. Google delivered middling growth for the first quarter, with revenue rising 12%, in line with the fourth quarter, despite a noticeable slowdown in its cash machine of search and in YouTube ads. But despite the ever-present worries about President Donald Trump’... In earnings season, which we’re in the midst of right now, no (bad) news is good news. Google...

Tony Kim, Managing Director of Fundamental Equities at BlackRock, speaks at last year's Private Capital Conference. Photo via Getty.

Your Cheat Sheet for AI and Finance Summit

By Cory Weinberg · Apr 24, 2025 3:06pm PDT

My colleagues and I are sharpening our questions for Monday’s Financing the AI Revolution summit at the New York Stock Exchange. It will be the perfect New York spring afternoon to pressure-test how investors and executives are adjusting to new realities in the business. More companies are slowing their spending on artificial intelligence... My colleagues and I are sharpening our questions for Monday’s Financing the AI Revolution summit...

The Unreasnbl’s Martin Desmond Roe, Travon Free and Mickey Meyer. Photo by Robyn Von Swank.

A New Hollywood Fund Finances Creators' AI Projects

By Sahil Patel and Kaya Yurieff · Apr 24, 2025 2:52pm PDT

The Unreasnbl’s Martin Desmond Roe, Travon Free and Mickey Meyer. Photo by Robyn Von Swank.

Creator Economy

A New Hollywood Fund Finances Creators' AI Projects

By Sahil Patel and Kaya Yurieff · Apr 24, 2025 2:52pm PDT

Hollywood filmmakers say it’s increasingly difficult to get funding to develop projects as studios and streaming companies rein in spending. Now two young companies are trying to finance those projects and help their makers use artificial intelligence in development. DreamFlare, an AI video startup, and The Unreasnble, an entertainment... Hollywood filmmakers say it’s increasingly difficult to get funding to develop projects as...

Jane Street’s Crypto Trading Tripled Last Year

By Yueqi Yang · Apr 24, 2025 2:31pm PDT · 1 comment

Jane Street, a Wall Street powerhouse, more than tripled its crypto trading in 2024 during the market rebound, boosted by bitcoin exchange-traded funds and the expected easing of crypto rules under President Donald Trump. The New York–based company purchased $110 billion worth of cryptocurrencies, including stablecoins, and sold $110... Jane Street, a Wall Street powerhouse, more than tripled its crypto trading in 2024 during the...

Subscriber Survey

Half of Tech Workers Report Staff Cuts, Hiring Pullbacks: The Information Subscriber Survey

By Akash Pasricha · Apr 24, 2025 10:00am PDT

Tech companies are rethinking their hiring and spending on key areas including software and marketing, amid fast-changing tariff policies and mounting recession fears. Meanwhile, many are hitting the pause button on capital projects, dealmaking and expanding in new markets. The Information’s latest exclusive reader survey detailed these moves as... Tech companies are rethinking their hiring and spending on key areas including software and...

Fritz Lanman, CEO of Classpass. Photo via Getty.

How ClassPass Got Its Support Bot on Par With Humans

By Jon Victor · Apr 24, 2025 10:00am PDT

When it comes to using artificial intelligence for customer support, businesses are learning that the technology isn’t something you set and forget. Instead, they need to keep an eye on how the AI is performing and make improvements even after it goes live.ClassPass, which operates a subscription platform for fitness classes, learned that lesson... When it comes to using artificial intelligence for customer support, businesses are learning that...

Why the Crypto Industry Is Closely Tracking the Fate of a Tiny Texas Bank

By Yueqi Yang · Apr 24, 2025 7:00am PDT

Why the Crypto Industry Is Closely Tracking the Fate of a Tiny Texas Bank

By Yueqi Yang · Apr 24, 2025 7:00am PDT

A small Texas bank that’s a crucial cog in the global crypto market lost a key leader last week, potentially complicating its closely watched efforts to emerge from regulatory purgatory. United Texas Bank is tiny by all measures except in its role as one of the few U.S. banks willing to do business with crypto-friendly overseas banks. That role... A small Texas bank that’s a crucial cog in the global crypto market lost a key leader last week,...