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

San Francisco from Twin Peaks. Photo by Anadolu via Getty Images.

Big Tech Earnings and TikTok Ban Bill Coming Next Week

By Martin Peers · Apr 19, 2024 2:35pm PDT

Get ready. The tech news cycle is about to go into overdrive. Next week we’ve got March-quarter earnings from Google, Microsoft and Meta Platforms. The first two will be closely watched for what we can glean about how artificial intelligence–powered services are lifting revenues, while Meta CEO Mark Zuckerberg is sure to wax eloquent about his... Get ready. The tech news cycle is about to go into overdrive. Next week we’ve got March-quarter...

ByteDance's Singapore office. Photo by Bloomberg.

TikTok Owner ByteDance Elevates Executive Leading AI Development

By Juro Osawa · Apr 19, 2024 11:21am PDT · 1 comment

As TikTok owner ByteDance ramps up its efforts to develop artificial intelligence, the Chinese internet giant recently elevated an executive leading the AI development to report directly to CEO Liang Rubo, according to two employees with direct knowledge of the matter. The decision to put the executive, Zhu Wenjia under Liang’s supervision... As TikTok owner ByteDance ramps up its efforts to develop artificial intelligence, the Chinese...

TikTok’s New App, Tesla’s Sunken Stock, Are Tech Workers Leaving Silicon Valley?

By Jessica E. Lessin · Apr 19, 2024 10:31am PDT · 2 comments

The companies change but the debates stay the same. I was thinking about that during this week's recording of More or Less as we debated the future of Tesla—the technology and car company. Or is it just a car company? That plus, why TikTok launched its new app and a breakdown of some misleading tech worker statistics. Hope you... The companies change but the debates stay the same. I was thinking about that during this...

Recap: Jessica Lessin’s Fireside Chat with Whalar’s Neil Waller

By The Information Partnerships · Apr 19, 2024 10:06am PDT

Partner Content

Recap: Jessica Lessin’s Fireside Chat with Whalar’s Neil Waller

By The Information Partnerships · Apr 19, 2024 10:06am PDT

As the creator economy rises, so do the products and agencies that serve content creators. One such agency is Whalar, one of the fastest-growing creator agencies. As part of the recent Creator Economy Summit, Jessica Lessin, founder and CEO of The Information, sat down for a fireside chat with Neil Waller, co-founder of Whalar, to discuss... As the creator economy rises, so do the products and agencies that serve content creators. One...

Art by Clark Miller. Altman via Getty images.

Jack Altman Is Ready for His Spotlight

By Abram Brown · Apr 19, 2024 9:00am PDT · 3 comments

Few things matter more to Jack Altman than bedtime with the Altman siblings: the two-year-old daughter and four-year-old son he shares with his wife, Julia, who is pregnant with their third child. “Childhood is such a short period. Maybe you get 10 years where your kids want nothing more than to be with you,” he said as we... Few things matter more to Jack Altman than bedtime with the Altman siblings: the...

Pro Weekly: A Less Optimistic Outlook for Big Tech

Pro Weekly: A Less Optimistic Outlook for Big Tech

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

The Information’s readers have cooled on their outlook for the technology sector. In our April survey, 33% of readers said they expect conditions to improve and 17% said they expect conditions to worsen. That’s markedly less optimistic than earlier in the year. In February, those expecting conditions to improve outnumbered those expecting them... The Information’s readers have cooled on their outlook for the technology sector. In our April...

A TikTok Shop booth at a conference in Fuzhou, China, in March. Photo by Lin Shanchuan/Xinhua via Getty Images

TikTok Shop’s ‘Buy Local’ Strategy Thwarts Chinese Merchants

By Jing Yang and Juro Osawa · Apr 19, 2024 6:00am PDT

Over the past six years, a Chinese startup called Tymo built a respectable online business in the U.S. selling hair dryers, curlers and straighteners, mainly on Amazon. Last year, though, it began selling its goods on the U.S. version of TikTok Shop, the viral video app’s new e-commerce platform, after TikTok recruited Tymo’s... Over the past six years, a Chinese startup called Tymo built a respectable online business in the...

Google CEO Sundar Pichai. Photo by Justin Sullivan/Getty Images.

Why Google’s Android-Pixel Reorg Is a Big Deal

By Amir Efrati · Apr 18, 2024 5:00pm PDT · 2 comments

Google CEO Sundar Pichai. Photo by Justin Sullivan/Getty Images.

Why Google’s Android-Pixel Reorg Is a Big Deal

By Amir Efrati · Apr 18, 2024 5:00pm PDT · 2 comments

Google CEO Sundar Pichai has been criticized for avoiding tough decisions, but on Thursday he may have resolved one of the biggest questions hanging over the company: what to do about Android, the main rival to Apple as a smartphone operating system. Android has long played second fiddle to the iPhone in the U.S. while dominating globally. But... Google CEO Sundar Pichai has been criticized for avoiding tough decisions, but on Thursday he may...

Photo via Lacework.

Lacework’s Fire Sale Tarnishes Sutter Hill’s Incubation Strategy

By Kate Clark · Apr 18, 2024 3:40pm PDT

Cybersecurity company Lacework is in talks to sell to its competitor, Wiz, for between $150 million and $200 million, a fragment of its 2021 valuation of $8.3 billion, Cory and Aaron report. It’s a painful ending for the investors that poured nearly $2 billion into the 9-year-old startup, as well as the employees, who were hoping for a much... Cybersecurity company Lacework is in talks to sell to its competitor, Wiz, for between $150...

Mr. Beast on March 09, 2024 in Miami. Photo by Chris Unger/Zuffa LLC via Getty Images.

Creator Economy

MrBeast and Other YouTubers Are Rapidly Inking FAST Deals

By Sahil Patel · Apr 18, 2024 2:26pm PDT

It’s very likely that you have heard the term “FAST channel” bandied about recently, considering how often it gets brought up within the streaming industry. These “free ad-supported television” channels have proliferated on internet services like Pluto TV, Tubi and The Roku Channel that carry a continuous feed of video. This 24-hour programming... It’s very likely that you have heard the term “FAST channel” bandied about recently, considering...

Musk’s Tighter Grip at Tesla Comes With More Direct Reports

By Becky Peterson · Apr 18, 2024 11:34am PDT · 1 comment

There’s a new order at Tesla: The company said Monday it would eliminate 10% of its workforce, and two key executives who reported directly to CEO Elon Musk have departed. At least 35 people now report directly to Musk, according to Tesla’s internal org chart, which The Information viewed. (See our updated Tesla Org Chart here.) The... There’s a new order at Tesla: The company said Monday it would eliminate 10% of its...

Wiz CEO, Assaf Rappaport. Photo By Harry Murphy/Sportsfile via Getty Images.

Security Startup Wiz in Talks to Acquire Lacework for $200 Million

By Cory Weinberg and Aaron Holmes · Apr 18, 2024 9:51am PDT · 4 comments

Wiz CEO, Assaf Rappaport. Photo By Harry Murphy/Sportsfile via Getty Images.

Security Startup Wiz in Talks to Acquire Lacework for $200 Million

By Cory Weinberg and Aaron Holmes · Apr 18, 2024 9:51am PDT · 4 comments

Cybersecurity startup Wiz is in advanced talks to acquire Lacework, one of its largest private competitors, according to two people with direct knowledge of the talks. The deal values Lacework at between $150 million and $200 million, according to one of the people, a sharp decline from the company’s 2021 valuation of $8.3 billion. The... Cybersecurity startup Wiz is in advanced talks to acquire Lacework, one of its largest private...

Art by Clark Miller.

What To Be Excited About For AI in 2024; How Much Power Will Stargate Need?

By Stephanie Palazzolo · Apr 18, 2024 7:30am PDT

When you’re covering a space as hyped-up as generative AI, it can be easy to become jaded and overly skeptical (something I have to combat every time I see yet another AI funding round valued at a 100-times forward revenue multiple).But, there’s still plenty in AI to be excited about—just take a look at this piece from my colleague Aaron Holmes,... When you’re covering a space as hyped-up as generative AI, it can be easy to become jaded and...

Art by Clark Miller

To Unlock AI Spending, Microsoft, OpenAI and Google Prep ‘Agents’

By Aaron Holmes · Apr 18, 2024 6:00am PDT

As many businesses remain cautious about spending on conversational artificial intelligence, AI providers such as Microsoft, OpenAI and Google are racing to make the technology more of a must-have—by introducing new features that can handle complex tasks with little guidance from the customer. Microsoft, for instance, is making software to... As many businesses remain cautious about spending on conversational artificial intelligence, AI...

Photo: Shutterstock

The Electric: Wall Street Analysts Press Musk to Get Back on Script

By Steve LeVine · Apr 18, 2024 4:30am PDT · 2 comments

Tesla CEO Elon Musk is vowing accelerated development of the fully driverless Robotaxi, brushing aside calls from analysts and investors to walk back his abrupt postponement of a long-awaited $25,000 electric vehicle. “Going balls to the wall for autonomy is a blindingly obvious move,” Musk said in a tweet Tuesday. “Everything else is like... Tesla CEO Elon Musk is vowing accelerated development of the fully driverless Robotaxi, brushing...

Tesla CEO Elon Musk. Photo by Suzanne Cordeiro/AFP via Getty Images.

Tesla’s Board Sweats the Small Stuff

By Martin Peers · Apr 17, 2024 5:00pm PDT · 2 comments

Tesla CEO Elon Musk. Photo by Suzanne Cordeiro/AFP via Getty Images.

Tesla’s Board Sweats the Small Stuff

By Martin Peers · Apr 17, 2024 5:00pm PDT · 2 comments

It’s good to see that Tesla’s board is focusing on what’s important. The electric car maker revealed today that it will put Elon Musk’s contentious 2018 pay package to a shareholder vote again in mid-June, along with a proposal to move the company’s corporate domicile to Texas from Delaware. The pay vote makes sense: Musk created value and... It’s good to see that Tesla’s board is focusing on what’s important. The electric car maker...

Left to right: Keith Rabois, managing partner at Khosla Ventures, and Ramp cofounders Karim Atiyeh (CTO), Eric Glyman (CEO) and Gene Lee (CPO). Photos by Bloomberg and Ramp.

Ramp’s Value Rises 36% in New Deal as Fintechs Rebound

By Natasha Mascarenhas and Kate Clark · Apr 17, 2024 3:03pm PDT · 3 comments

After a bruising couple of years for cash-burning financial technology startups, valuations are starting to rise again. Khosla Ventures and Founders Fund are co-leading a $150 million financing of Ramp, which offers credit cards and software for managing corporate expenses, at around a $7.65 billion valuation including the new capital, according... After a bruising couple of years for cash-burning financial technology startups, valuations are...

CAA Vault facilitates scans of clients' body, face and voice to capture their persona and make an AI replica. Photo: CAA

Creator Economy

Hollywood Talent Agency CAA Tests AI Clones

By Kaya Yurieff · Apr 17, 2024 2:37pm PDT

There’s a palpable anxiety in Hollywood about AI leading to job losses or automating some of the creative process. Creative Artists Agency, the talent agency that represents stars like Brad Pitt and Reese Witherspoon, is also trying to figure out how entertainers can benefit. Last fall, the talent agency started testing a new initiative... There’s a palpable anxiety in Hollywood about AI leading to job losses or automating some of the...

Salesforce CEO Marc Benioff

Special Report: M&A

If Salesforce is a Buyer Again, the M&A Market Must Be (Almost) Back

By Cory Weinberg · Apr 17, 2024 12:00pm PDT · 2 comments

A year ago, the board of Salesforce, one of the most acquisitive companies in tech, disbanded its mergers and acquisitions committee as it faced pressure from activist shareholders to reduce spending. The economic backdrop had sent deal-hunters into hiding. Forecasters braced for a global recession. Investment bankers complained they had nothing... A year ago, the board of Salesforce, one of the most acquisitive companies in tech, disbanded its...

The Information’s Readers Prefer Biden to Trump for Tech

By Akash Pasricha · Apr 17, 2024 9:00am PDT · 1 comment

Subscriber Survey

The Information’s Readers Prefer Biden to Trump for Tech

By Akash Pasricha · Apr 17, 2024 9:00am PDT · 1 comment

More than two-thirds of The Information’s readers think Joe Biden would be a better president for the technology sector than Donald Trump, despite the Biden administration’s aggressive antitrust policies and moves to regulate artificial intelligence. Roughly 68% of respondents to The Information’s latest reader survey said they... More than two-thirds of The Information’s readers think Joe Biden would be a better...