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

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Recent Editions

Cory Cotton, Coby Cotton of Dude Perfect; Lucy Guo of Passes. Photos by Getty, Lucy Guo.

Creator Economy Database

U.S. Creator Funding Surges for First Time in Two Years

By Kaya Yurieff and Akash Pasricha · Apr 16, 2024 6:00am PDT

Venture capitalists are warming to creator economy startups again. Funding for U.S.-based creator startups more than doubled in the first three months of the year to nearly $341 million, according to The Information’s Creator Economy Database. The quarter marked the first year-over-year rise since early 2022 and defied a continued slump in... Venture capitalists are warming to creator economy startups again. Funding for U.S.-based creator...

Photo by Frederic J. Brown/AFP via Getty Images

Tesla Needs a Full-Time CEO

By Martin Peers · Apr 15, 2024 5:00pm PDT

We all know this hasn’t been Apple’s year, between the so-so reaction to its Vision Pro mixed-reality headset, the cancellation of its car project, an antitrust lawsuit from the U.S. government, worries about its lagging status in artificial intelligence and, of course, the reality that iPhone sales are no longer growing. Apple stock is down... We all know this hasn’t been Apple’s year, between the so-so reaction to its Vision Pro...

Art by Mike Sullivan

To Keep Viewers, Disney Plans a New Streaming Concept: Old-Style TV Channels

By Sahil Patel · Apr 15, 2024 8:00am PDT · 1 comment

In television, what’s old is new again. After more than a decade of growth in streaming services that make viewers click on shows they want to watch “on demand,” a growing number of streaming services are offering new “channels” that function more like old-style TV, with a continuous, scheduled stream of shows. ... In television, what’s old is new again. After more than a decade of growth in streaming...

Thomas Kurian, CEO of Google Cloud. Photo via Google.

Google Cloud’s AI Strategy Is Starting to Sound Like AWS’

By Anissa Gardizy · Apr 15, 2024 7:00am PDT

Thomas Kurian, CEO of Google Cloud. Photo via Google.

Google Cloud’s AI Strategy Is Starting to Sound Like AWS’

By Anissa Gardizy · Apr 15, 2024 7:00am PDT

I’m back in San Francisco after a busy week in Las Vegas, where my colleague Jon Victor and I spent days talking to Google Cloud customers about the difference between generative artificial intelligence hype and reality. At one point during the conference, I was sitting at a table in a chilly Mandalay Bay conference room when I heard a... I’m back in San Francisco after a busy week in Las Vegas, where my colleague Jon Victor and I...

Art by Clark Miller

Generative AI’s Open Secret: Everyone Is Copying Everyone Else

By Stephanie Palazzolo · Apr 15, 2024 6:00am PDT · 4 comments

It's the worst-kept secret in artificial intelligence. Many of the AI chatbots developed by startups were likely made using data from OpenAI and other firms, even though these startups are trying to undercut OpenAI, according to developers and founders. This practice has resulted in a startling competitive dynamic: Developers are charging... It's the worst-kept secret in artificial intelligence. Many of the AI chatbots developed by...

Former President Donald Trump and Jigar Shah, director of the Loan Programs Office in the U.S. Energy Department. Photo: Shutterstock; Energy Department.

The Electric: Under Trump, a Possible Welcome Mat to China

By Steve LeVine · Apr 15, 2024 4:30am PDT

Virtually no one expects Donald Trump—should he win election in November—to be able to fulfill his threat to repeal the Inflation Reduction Act and other programs supporting the U.S. electric vehicle and battery industries. But Trump’s history and recent statements suggest he might flip the script on the EV transition, slowing the Biden... Virtually no one expects Donald Trump—should he win election in November—to be able to fulfill...

Why Google’s Demis Hassabis Won $3 Million

Why Google’s Demis Hassabis Won $3 Million

By Abram Brown · Apr 13, 2024 7:00am PDT

Welcome, Weekenders! In this newsletter:A secretive weapons billionaire and his never-ending transformationWhere art insiders and Silicon Valley collectors make their hidden-gem purchasesA power lunch to end all power lunchesPlus: Apple’s latest chase; Spider-Man takes on Big Brother; and a billionaire investor’s favorite book.A week ago, Demis... Welcome, Weekenders! In this newsletter:A secretive weapons billionaire and his never-ending...

Art by Clark Miller. Photos by Sophia Sahara.

From Gayle King to Wendi Murdoch to Karlie Kloss, Female Leaders Gather to Discuss AI, Politics

By Abram Brown · Apr 13, 2024 6:03am PDT · 3 comments

Art by Clark Miller. Photos by Sophia Sahara.

From Gayle King to Wendi Murdoch to Karlie Kloss, Female Leaders Gather to Discuss AI, Politics

By Abram Brown · Apr 13, 2024 6:03am PDT · 3 comments

“I had hoped women-only events might be unnecessary by now,” said Joanna Coles, director of the Fallen Journalists Memorial Foundation and Hearst Magazines’ former chief content officer. “But given there are near total bans of abortion in 24 states, IVF and birth control are now threatened, the pay gap still persists, and... “I had hoped women-only events might be unnecessary by now,” said Joanna Coles,...

Art by Clark Miller

Move Over, Miami: Where Silicon Valley Collectors and Art Insiders Really Buy Their Masterpieces

By Todd Plummer · Apr 13, 2024 5:00am PDT · 2 comments

Last December, mayhem seemed to hit an all-time high at Art Basel Miami Beach, the art world’s annual Floridian bacchanal. Traffic choked the streets. No one could get a cellphone signal. And the media seemed more interested in covering the onslaught of celebrity and fashion-brand parties—Leonardo DiCaprio here, Cartier... Last December, mayhem seemed to hit an all-time high at Art Basel Miami Beach, the art...

Photo via Shutterstock.

Why StubHub Likely Won’t Buy a Ticket to the IPO Ride

By Martin Peers · Apr 12, 2024 3:30pm PDT

Greetings!Some people really can’t get past the idea that it’s no longer 2021. After a lot of resistance among private companies to raising money in the past year or two because of concerns about the valuation haircuts that would result, we’ve seen a lot more private funding down rounds and even IPOs at well below peak 2021 valuations (such as ... Greetings!Some people really can’t get past the idea that it’s no longer 2021. After a lot of...

OpenAI, IP Theft and a New Incentive Structure for the Internet

By Jessica E. Lessin · Apr 12, 2024 11:39am PDT

I'm just back from New York where it has been a whirlwind week for The Information and, of course, the tech and finance industries. We covered so much of it on the pod—with so much zeal (or was it fatigue?) that Sam called me punchy! Hope you enjoy. Apple Spotify I'm just back from New York where it has been a whirlwind week for The Information and, of...

Art by Clark Miller. Tull image via Getty Images.

Secretive Billionaire Thomas Tull’s Never-Ending Transformation

By Julia Black · Apr 12, 2024 9:00am PDT · 1 comment

Art by Clark Miller. Tull image via Getty Images.

Secretive Billionaire Thomas Tull’s Never-Ending Transformation

By Julia Black · Apr 12, 2024 9:00am PDT · 1 comment

Private jets are a common enough sight over Driggs, Idaho, a hamlet 30 miles west of the exclusive resort town of Jackson Hole, Wyo. But one weekend a few months ago, so many chartered flights and luxury SUVs arrived in the small town that the mayor began to receive calls from residents asking what was going on. The commotion, as it turned out,... Private jets are a common enough sight over Driggs, Idaho, a hamlet 30 miles west of the...

Photo by Getty Images

Pro Weekly: Back-to-Back Funding in Generative AI

By Akash Pasricha · Apr 12, 2024 8:00am PDT

My colleague Cory reported Monday that some venture investors are shying away from companies working on generative artificial intelligence because they require a lot of capital, can fetch towering valuations and often face stiff competition. But you wouldn’t know it from the first quarterly tabulation of funding to the companies in our ... My colleague Cory reported Monday that some venture investors are shying away from companies...

Photo by Noam Galai/Getty Images.

StubHub Plans Summer IPO in New Test of Market

By Cory Weinberg · Apr 12, 2024 7:00am PDT · 1 comment

Online ticketing marketplace StubHub is aiming to go public by late summer, people close to the company said, setting up another sizable internet initial public offering after Reddit’s IPO last month. And as StubHub has more than $2 billion in debt, many times its estimated profits, the company will test investors’ appetite for... Online ticketing marketplace StubHub is aiming to go public by late summer, people close to the...

Google Cloud CEO delivering the keynote address at the unit's annual conference. Photo via Google Cloud

At Google’s Cloud Conference, Lofty AI Visions Meet Customer Reality

By Jon Victor and Anissa Gardizy · Apr 12, 2024 6:00am PDT · 4 comments

In his keynote speech at Google’s annual cloud computing conference Tuesday, Google Cloud CEO Thomas Kurian outlined a future in which businesses use artificial intelligence agents to automate all manner of tasks, from analyzing data, to creating ad copy, to prodding consumers to spend more money. Now he must get customers to follow his... In his keynote speech at Google’s annual cloud computing conference Tuesday, Google Cloud...

The Amazon Spheres in Seattle. Photo by John Moore/Getty Images.

What Amazon’s Shareholder Letter Didn’t Say

By Martin Peers · Apr 11, 2024 5:00pm PDT

The Amazon Spheres in Seattle. Photo by John Moore/Getty Images.

What Amazon’s Shareholder Letter Didn’t Say

By Martin Peers · Apr 11, 2024 5:00pm PDT

We’re approaching that time of the year when most public companies hold their annual shareholder meetings, theoretically giving investors both large and small a chance to question management and vote on board members and other matters. That all still happens, but the drama has faded from these events. What used to be in-person gatherings are... We’re approaching that time of the year when most public companies hold their annual shareholder...

Photo via Adobe Stock.

Investors Circle ‘Most Hated’ Fintech and E-Commerce Sectors

By Natasha Mascarenhas · Apr 11, 2024 3:51pm PDT · 1 comment

The fintech and e-commerce sectors, two of the hardest hit by the end of the venture capital funding boom, are still showing plenty of carnage. Some investors say it’s the perfect time to go bargain hunting. At the end of 2022, fintech was “probably the most hated area and probably lending within that [sector], and we actually have a couple... The fintech and e-commerce sectors, two of the hardest hit by the end of the venture capital...

Photo by Bing Guan/Bloomberg via Getty Images.

Creator Economy

Watch But Don’t Worry About the Coming AI Influencers

By Erin Woo · Apr 11, 2024 3:21pm PDT

This morning, my colleagues Jing, Juro and I reported that TikTok has started to develop an advertising tool that would generate AI avatars to star in advertisers’ videos. The feature is still far from ready, we reported. Still, TikTok’s efforts indicate that the company could try to shake up the way creators make money again. ... This morning, my colleagues Jing, Juro and I reported that TikTok has started to develop an...

OpenAI signage at the Mobile World Congress conference in Barcelona in February 2024. Photo by SIPA USA via AP.

OpenAI Researchers, Including Ally of Sutskever, Fired for Alleged Leaking

By Erin Woo and Stephanie Palazzolo · Apr 11, 2024 1:18pm PDT · 2 comments

OpenAI has fired two researchers for allegedly leaking information, according to a person with knowledge of the situation. They include Leopold Aschenbrenner, a researcher on a team dedicated to keeping artificial intelligence safe for society. Aschenbrenner was also an ally of OpenAI chief scientist Ilya Sutskever, who... OpenAI has fired two researchers for allegedly leaking information, according to a person...

Photo by Nikos Pekiaridis/NurPhoto via Getty Images.

Temu Flip-Flopped on Cotton Policy Meant to Weed Out Forced Labor, Suppliers Say

By Jing Yang · Apr 11, 2024 7:35am PDT · 1 comment

Photo by Nikos Pekiaridis/NurPhoto via Getty Images.

Temu Flip-Flopped on Cotton Policy Meant to Weed Out Forced Labor, Suppliers Say

By Jing Yang · Apr 11, 2024 7:35am PDT · 1 comment

Temu, a China-founded bargain shopping app, has been under fire from U.S. lawmakers, who say it hasn’t done enough to stamp out the use of forced labor in its supply chain. Temu, for its part, has said it keeps close watch on the thousands of small manufacturers that make up its sprawling supplier base. But last year, Temu walked back a... Temu, a China-founded bargain shopping app, has been under fire from U.S. lawmakers, who say it...