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

Art by Clark Miller.

Fintech Startup Level Abruptly Shuts Down

By Cory Weinberg and Michael Roddan · Jan 2, 2025 11:46am PST · 3 comments

Benefits startup Level has told its clients that it is shutting down after an effort to sell the company fell through, marking another abrupt closure of a fintech that has left users in the lurch. Level, which was founded in 2018 and raised a $27 million Series A round in 2021 led by Khosla Ventures and Lightspeed Venture Partners, told the... Benefits startup Level has told its clients that it is shutting down after an effort to sell the...

Photo by AP.

TikTok Promises Ban Refunds to Keep Advertisers Spending

By Sylvia Varnham O'Regan, Sahil Patel and Catherine Perloff · Jan 2, 2025 9:22am PST

As some advertisers start to pull back from buying ad space on TikTok, the Chinese-owned app is telling big ad buying firms how they could get out of ad agreements if the app is banned in the U.S. in January. TikTok said in an email to big ad buying firms that it would return any principal payments—down payments on agencies’ spending... As some advertisers start to pull back from buying ad space on TikTok, the Chinese-owned app is...

Art by Clark Miller

Predictions 2025: Amazon Will Buy Lyft

By Anita Ramaswamy · Jan 2, 2025 8:14am PST · 2 comments

Robotaxis are quickly gaining ground, largely thanks to Alphabet-backed Waymo, which announced in October that it was completing more than 100,000 paid rides for passengers per week. Waymo plans to enter new regions next year. And everything in the market is sure to intensify further as Tesla tries to begin mass-producing its own robotaxis in... Robotaxis are quickly gaining ground, largely thanks to Alphabet-backed Waymo, which announced in...

Left to right: Mistral CEO Arthur Mensch, Cohere CEO Aidan Gomez, Elon Musk, Donald Trump, Sam Altman. Photos via Getty.

How Artificial Intelligence Will Change in 2025

By Stephanie Palazzolo · Jan 2, 2025 7:00am PST · 1 comment

Left to right: Mistral CEO Arthur Mensch, Cohere CEO Aidan Gomez, Elon Musk, Donald Trump, Sam Altman. Photos via Getty.

How Artificial Intelligence Will Change in 2025

By Stephanie Palazzolo · Jan 2, 2025 7:00am PST · 1 comment

Welcome to the first AI Agenda issue of 2025! We’re expecting a lot in AI this year, given an impressive reasoning model from OpenAI, a new administration and likely lots more multi-billion-dollar funding rounds on the way. Welcome to the first AI Agenda issue of 2025! We’re expecting a lot in AI this year, given an ...

Photo via Getty.

Morgan Stanley’s E-Trade Explores Offering Crypto Trading

By Yueqi Yang · Jan 2, 2025 6:00am PST

Morgan Stanley’s online stock-trading arm, E-Trade, is exploring adding crypto trading in anticipation of a more favorable crypto regulatory environment under the incoming Donald Trump administration, according to two people familiar with the firm’s plans. If Morgan Stanley goes ahead with the launch, E-Trade would become one of the... Morgan Stanley’s online stock-trading arm, E-Trade, is exploring adding crypto trading in...

Photo: Brandon Bell/Getty

The Electric: Tesla Struggled to Sell Cars in 2024, and That May Continue in 2025

By Steve LeVine · Jan 2, 2025 4:30am PST · 4 comments

Two of Tesla CEO Elon Musk’s big bets in 2024 paid off in spades: Investors pushed up Tesla shares 63% on Musk’s claim that the company was no longer a mere carmaker, but a developer of artificial intelligence applications like driverless cars and humanoid robots. And, on the back of some $250 million in campaign donations, Musk became the most... Two of Tesla CEO Elon Musk’s big bets in 2024 paid off in spades: Investors pushed up Tesla...

Art by Clark Miller

Predictions 2025: Elon Musk Will Try to Buy TikTok

By Kaya Yurieff · Jan 1, 2025 6:00am PST · 14 comments

At the moment, TikTok is fighting for survival. The Chinese-owned app has been locked in a monthslong legal battle over a law that will ban it in the U.S. on Jan. 19 if it hasn’t cut ties with its parent company, ByteDance. The entire drama is headed for a final showdown next week, with the company planning to argue for its existence in front of... At the moment, TikTok is fighting for survival. The Chinese-owned app has been locked in a...

Photos via Getty

How Waymo, Musk, Klarna and Marc Lore Stole 2024

By Martin Peers · Dec 31, 2024 3:00pm PST

Photos via Getty

How Waymo, Musk, Klarna and Marc Lore Stole 2024

By Martin Peers · Dec 31, 2024 3:00pm PST

Before we turn the page on 2024, we should acknowledge the winners (and losers) in tech news: those stories that provided plenty of entertainment and those that reminded us of the enduring promise of new technologies. So, without further ado, here are our annual awards:Best soap opera: Entrants in this category had a tough act to follow, given... Before we turn the page on 2024, we should acknowledge the winners (and losers) in tech news:...

Photo by Getty

A Battery Ventures Buyout Shows VC-to-PE Path

By Cory Weinberg · Dec 31, 2024 2:13pm PST

Here’s a deal scoop to wrap up the year: RetailNext, a 17-year-old startup that sells smart cameras to bricks-and-mortar retailers for measuring foot traffic, sold earlier this month to multistage investment firm Battery Ventures, people familiar with the matter said. The transaction might sound small, but it could have bigger implications for... Here’s a deal scoop to wrap up the year: RetailNext, a 17-year-old startup that sells smart...

DJ Diplo at The Information's 2024 Creator Economy Summit. Photo by Erin Beach

Creator Economy

Creator Economy Year In Review 2024

By Kaya Yurieff · Dec 31, 2024 1:29pm PST

Nearly four years ago, we started this newsletter because we saw more influencers making careers out of their online followings. While that’s still the case, the year 2024 marked a high for their influence in politics, business and culture. It really felt like creators were everywhere, from becoming a key part of political campaigns to inking ... Nearly four years ago, we started this newsletter because we saw more influencers making careers...

Art by Clark Miller (photos via Getty Images)

What We Got Right (and Wrong) in Our Predictions for 2024

By The Information Staff · Dec 31, 2024 11:06am PST · 3 comments

When we looked into the future a year ago, we saw a period ahead full of exciting new AI gadgets, dealmaking at Netflix and trouble in a burgeoning corner of the retail world. But even the best clairvoyants don’t always get it right, and our crystal ball clearly was picking up some static interference when we gazed through it last year. Still,... When we looked into the future a year ago, we saw a period ahead full of exciting new AI gadgets,...

Jack Hidary, left, and Eric Schmidt. Art by Mike Sullivan

An Eric Schmidt–Chaired Quantum AI Moon Shot Has a Rocky Launch

By Michael Roddan and Cory Weinberg · Dec 31, 2024 8:00am PST · 3 comments

Jack Hidary, left, and Eric Schmidt. Art by Mike Sullivan

An Eric Schmidt–Chaired Quantum AI Moon Shot Has a Rocky Launch

By Michael Roddan and Cory Weinberg · Dec 31, 2024 8:00am PST · 3 comments

In October, on a panel at an investor conference in Riyadh, Saudi Arabia, futurist Peter Diamandis congratulated a technology entrepreneur sitting next to him, Jack Hidary, on the success of his startup, SandboxAQ. “I’ve never seen a company scale revenues as quickly as you have,” said Diamandis, founder of the nonprofit XPrize... In October, on a panel at an investor conference in Riyadh, Saudi Arabia, futurist Peter...

Photos via Getty and Shutterstock

The Top AI Moments of 2024 and What We’re Watching For Next Year

By Stephanie Palazzolo · Dec 31, 2024 7:00am PST

What a year! 2024 toned down some of the AI hype from the previous year, as buyers of AI software began asking when they’d start seeing returns from their purchases. Meanwhile, several well-funded AI developers like Inflection, Adept and Character.AI scrambled to safety in the arms of larger tech giants. Still, there was plenty to be excited... What a year! 2024 toned down some of the AI hype from the previous year, as buyers of AI software...

Art by The Information staff (images via Getty)

The Information’s Top Articles of 2024

By The Information Staff · Dec 31, 2024 6:00am PST

The Information’s readers spent a lot of time this year on Elon Musk. And on the artificial intelligence wars. They were early to what’s happening at Apple, too—a foldable phone!—and displayed a deep interest in how tech and politics are increasingly colliding. The Information’s readers spent a lot of time this year on Elon Musk. And on the artificial...

Art by Clark Miller

Accounting Startup’s Sudden Shutdown Adds to Fintech Woes

By Natasha Mascarenhas · Dec 30, 2024 6:28pm PST · 4 comments

Elizabeth MacBride, an author and the owner of a small publishing company, was celebrating a belated Christmas with her daughters on Friday morning when she glanced at her phone and saw an e-mail from her accounting firm, Bench. The Vancouver, British Columbia–based startup said it was shutting down services for customers, effective... Elizabeth MacBride, an author and the owner of a small publishing company, was celebrating a...

Photo via Getty

Claims of Legacy Media’s Death Are Premature

By Martin Peers · Dec 30, 2024 5:00pm PST

Photo via Getty

Claims of Legacy Media’s Death Are Premature

By Martin Peers · Dec 30, 2024 5:00pm PST

The deaths in recent days of former Time Warner CEO Richard Parsons and Cablevision Systems founder Chuck Dolan seemed, in a way, symbolic of the slow death of the traditional television industry. Both Time Warner and Cablevision were, until a decade or so ago, major forces in cable TV and entertainment. Both now have been swallowed up by other... The deaths in recent days of former Time Warner CEO Richard Parsons and Cablevision Systems ...

Art by Clark Miller

7 Charts That Explain 2024

By The Information Staff · Dec 30, 2024 10:00am PST · 4 comments

In many ways, artificial intelligence defined 2024. Nvidia’s perch as the dominant seller of the graphics processing units that power much of AI propelled it past $3 trillion in market capitalization, making it the world’s second most valuable company as of Dec. 27, trailing only Apple. Despite a growing legion of rivals and would-be... In many ways, artificial intelligence defined 2024. Nvidia’s perch as the dominant seller...

Photo via Getty

DeepSeek Shows Necessity Is The Mother of Invention

By Stephanie Palazzolo · Dec 30, 2024 7:18am PST · 7 comments

While the rest of us were recovering from heavy Christmas dinners and too much time with relatives, Chinese quant trading firm High-Flyer Capital Management dropped the latest update on Thursday to DeepSeek, its open-weight large language model. Senior researchers at American firms including OpenAI and Meta Platforms almost immediately started... While the rest of us were recovering from heavy Christmas dinners and too much time with...

Photos via Getty

ByteDance Planned to Spend $7 Billion on Nvidia Chips Next Year

By Qianer Liu and Juro Osawa · Dec 30, 2024 6:00am PST

ByteDance continues to use Nvidia’s most advanced artificial intelligence chips despite U.S. efforts to block Chinese companies from using them. The Chinese owner of TikTok recently told suppliers it planned to spend up to $7 billion to access Nvidia chips outside China in 2025, according to a person who has been involved in the plan.... ByteDance continues to use Nvidia’s most advanced artificial intelligence chips despite...

Art by Clark Miller

Some Educated Guesses about Elon

By Abram Brown · Dec 28, 2024 7:00am PST

Art by Clark Miller

Some Educated Guesses about Elon

By Abram Brown · Dec 28, 2024 7:00am PST

Welcome, Weekenders! In this newsletter:• Lists: 20 great books to read over the holidays.• Artificial intelligence: A marketplace for solving AI’s copyright woes? • Plus: The crust czar; a go-to travel shoe; and birds with bullets.Elon Musk really has reached a remarkable place within our lives, a type of ubiquity few other business titans... Welcome, Weekenders! In this newsletter:• Lists: 20 great books to read over the holidays.• ...