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

Five times/week

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.

By providing your email, you agree to The Information’s Privacy Policy

Recent Editions

2024 IPO Dreams, Apple’s Sports Game and Reddit’s Biz Gamble

By Jessica E. Lessin · Feb 23, 2024 10:44am PST

This week, the drama that has been brewing across the tech industry entered another gear. Top of mind: Reddit, OpenAI and investors that don't see eye to eye with CEOs. Hope you enjoy! Apple Spotify This week, the drama that has been brewing across the tech industry entered another gear....

Art by Clark Miller

The Ultimate Insiders’ Guide to AI: How Founders, Investors and Executives Really Use the Technology

By · Feb 23, 2024 9:00am PST · 13 comments

We’re deep into an era-defining boom in artificial intelligence, and with so much attention falling on the money and mania generated by this fast-evolving technology, it’s worth stepping back to ask: How do people really use it? And moreover, what are the people at the epicenter of this surge using AI to do? They use it for quite a... We’re deep into an era-defining boom in artificial intelligence, and with so much attention...

Lidiane Jones, Bill McDermott and Dara Khosrowshahi. Photos by Getty

Pro Weekly: When a CEO Moves, Deputies Follow

By Akash Pasricha · Feb 23, 2024 8:00am PST

New CEOs love turning to familiar faces. It’s an age-old habit that is well represented across the nearly 60 Org Charts we’ve now published for Pro subscribers.Take ServiceNow, whose Org Chart we published Wednesday. Bill McDermott joined the IT giant as CEO in 2019 after a nearly 10-year stint as SAP’s chief executive. The following year,... New CEOs love turning to familiar faces. It’s an age-old habit that is well represented across...

Art by Mike Sullivan.

TikTok Confronts New Threat: Bed Bugs

By Erin Woo and Kaya Yurieff · Feb 23, 2024 7:26am PST

Art by Mike Sullivan.

TikTok Confronts New Threat: Bed Bugs

By Erin Woo and Kaya Yurieff · Feb 23, 2024 7:26am PST

TikTok has hit a snag in its efforts to bring employees back to its New York City office: bed bugs. The discovery of a bed bug in the office last December, where hundreds of employees are based, has sparked a frenzy among workers fretting about the risks of transmitting bed bugs to roommates and pets, not to mention creators and other business... TikTok has hit a snag in its efforts to bring employees back to its New York City office: bed...

Nvidia's HGX H100 graphic processing units. Photo by Getty.

After ‘Panic,’ Nvidia’s AI Chips Are Becoming Easier to Find

By Anissa Gardizy, Natasha Mascarenhas and Stephanie Palazzolo · Feb 23, 2024 6:00am PST

When Nvidia CEO Jensen Huang told investors on Wednesday that the chipmaker’s supply of specialized semiconductors vital for artificial intelligence was “improving,” he confirmed what many AI software developers already knew: The yearlong chip crunch is easing. More than half a dozen companies that use AI chips say it’s... When Nvidia CEO Jensen Huang told investors on Wednesday that the chipmaker’s supply of...

Steve Huffman, CEO of Reddit. Photo by Getty

Reddit’s and Nextdoor’s Twisting Paths

By Cory Weinberg · Feb 22, 2024 5:00pm PST

Ah, how things look so fresh and clean for social media executives before they have to roll around in the mud of the public markets. Reddit dropped its IPO prospectus Thursday, laying out what we already reported: decent sales growth (21%) and narrowing losses in 2023, with still a solid cash burn ($84 million last year). It also showed... Ah, how things look so fresh and clean for social media executives before they have to roll...

California State Senator Steve Padilla.

Creator Economy

How a California Lawmaker Is Trying to Protect Child Creators

By Sylvia Varnham O'Regan · Feb 22, 2024 3:37pm PST

Former parenting vlogger Ruby Franke was sentenced this week and could face decades behind bars after pleading guilty to aggravated child abuse. Before her arrest, Franke posted videos on YouTube promoting a severe style of parenting her six children, including depriving them of food and banning her son from his room so he was forced to sleep on... Former parenting vlogger Ruby Franke was sentenced this week and could face decades behind bars...

Mike Moritz. Photo by Getty

‘You Come at The King, You Best Not Miss’

By Kate Clark · Feb 22, 2024 2:50pm PST · 1 comment

Mike Moritz. Photo by Getty

‘You Come at The King, You Best Not Miss’

By Kate Clark · Feb 22, 2024 2:50pm PST · 1 comment

Mentally, I’ve been in Sweden this week, though the quote that best sums up our recent reporting hails from the gritty Baltimore streets of “The Wire”: “You Come at The King, You Best Not Miss.”Myself and my colleagues Maria and Cory have been grappling with a strange and rare attempted board coup at Klarna, the Stockholm-based “buy now, pay... Mentally, I’ve been in Sweden this week, though the quote that best sums up our recent reporting...

Nextdoor CEO Sarah Friar. Photo by Getty

Nextdoor Board Discusses Replacing CEO Friar or Selling Company

By Cory Weinberg and Natasha Mascarenhas · Feb 22, 2024 2:25pm PST · 4 comments

Board members at the struggling local networking site Nextdoor have been debating the company’s future, including whether to bring in a new CEO or to find a buyer, a person familiar with the matter said. Investment firm Qatalyst has approached companies about their interest, said two people familiar with the matter. Among the options that... Board members at the struggling local networking site Nextdoor have been debating the...

Photo by Getty.

JPMorgan Pulls Former Compliance Chief Out of Retirement to Clean Up Fintech Mess

By Michael Roddan · Feb 22, 2024 12:57pm PST · 1 comment

JPMorgan Chase has called its former global chief compliance officer out of retirement to help the bank assert its rights as a major shareholder in Greek payments fintech Viva Wallet, after disagreements between the two firms culminated in dueling lawsuits. Frank Pearn, who retired as JPMorgan’s top financial and legal risk manager a year... JPMorgan Chase has called its former global chief compliance officer out of retirement to help...

From left: Matt Miller, Mike Moritz and Roelof Botha. Photos by Sequoia; Getty.

Inside the Board Fight Over Michael Moritz at Klarna

By Kate Clark, Maria Heeter and Cory Weinberg · Feb 22, 2024 10:00am PST · 2 comments

People close to Klarna founder Sebastian Siemiatkowski say he keeps a very tight inner circle. One of the people he trusts the most is Michael Moritz. So when big Klarna investor Sequoia Capital sought to oust Moritz—Klarna’s chair, who was a longtime leader of the venture capital firm before leaving last year—Siemiatkowski... People close to Klarna founder Sebastian Siemiatkowski say he keeps a very tight inner circle....

Art by Clark Miller

How AI Will Change Our Relationship With Computers

By Vinod Khosla · Feb 22, 2024 9:00am PST · 15 comments

Art by Clark Miller

How AI Will Change Our Relationship With Computers

By Vinod Khosla · Feb 22, 2024 9:00am PST · 15 comments

There’s a lot of buzz about “AI hardware” and “gadgets.” I want to discard these terms. They’re misleading. What you call gadgets or hardware, I see as facilitators of a new era in which low-latency voice becomes the primary way users interact with smart AI: These devices are support infrastructure. This... There’s a lot of buzz about “AI hardware” and “gadgets.” I want to...

Finpilot cofounders Lakshay Chauhan and John Alberg. Photos courtesy of Finpilot.

Google’s Bet on Synthetic Data; AI Copilots Reach Finance; Another Nvidia Blowout

By Stephanie Palazzolo · Feb 22, 2024 7:50am PST · 1 comment

Google’s artificial intelligence group is having a moment.After getting its flagship Gemini large language model off the ground and roughly on par with OpenAI, Google on Wednesday appeared to take a sudden lead in a parallel race to develop open-source LLMs, which Meta Platforms has been dominating. In the process, Google also gave a shot in the... Google’s artificial intelligence group is having a moment.After getting its flagship Gemini large...

Photo via YouTube.

ShipBob’s TikTok Deal Spurs Growth, but Profits Remain Elusive

By Ann Gehan · Feb 22, 2024 6:00am PST · 2 comments

Last year was a tough one for venture-backed logistics firms, with a drop in demand for moving goods cratering Flexport’s revenue and forcing Convoy to shutter entirely. But ShipBob, which has the backing of SoftBank and Bain Capital Ventures, may have bucked the trend. The company, which sells Amazon-like warehouse and shipping services... Last year was a tough one for venture-backed logistics firms, with a drop in demand for moving...

The DOE's David Howell. Photo: Courtesy David Howell

Exclusive From The Electric: David Howell, an Architect of the U.S. Battery Invention Machine, Is Retiring

By Steve LeVine · Feb 22, 2024 4:30am PST · 1 comment

In an unexpected move, David Howell, for two decades one of the most consequential behind-the-scenes players in U.S. battery development, will retire next week from the Department of Energy, where he helps to lead the multibillion-dollar U.S. challenge to China’s dominance of the battery industry. One of Howell’s most lasting legacies is... In an unexpected move, David Howell, for two decades one of the most consequential...

Photo by Getty Images

Nvidia Does It Again

By Martin Peers · Feb 21, 2024 5:00pm PST

Photo by Getty Images

Nvidia Does It Again

By Martin Peers · Feb 21, 2024 5:00pm PST

All those worrywarts can relax. Nvidia did it again. The AI chip giant reported fourth quarter revenue of $22 billion, $2 billion ahead of its projection, and 265% higher than a year earlier. Even better, Nvidia projected its first quarter revenue would be $24 billion, indicating that growing competition is not yet doing much to dent its... All those worrywarts can relax. Nvidia did it again. The AI chip giant reported fourth quarter...

Palo Alto Networks CEO Nikesh Arora. Photo by Getty

Why the Cybersecurity Growth Slowdown Could Boost Microsoft Sales

By Aaron Holmes · Feb 21, 2024 3:49pm PST · 3 comments

Cybersecurity providers are facing a moment of truth. After years of persuading companies to spend more on security software, hackers are still getting through. That’s giving some companies “cyber fatigue,” and putting them under pressure to buy less, Palo Alto Networks CEO Nikesh Arora said on Tuesday. Other industry... Cybersecurity providers are facing a moment of truth. After years of persuading companies to...

Image by Mike Sullivan.

Creator Economy

Eight More Creator Startups Closed as VC Money Evaporated

By Abubakar Idris · Feb 21, 2024 3:30pm PST

Last week, we published a list of creator economy startups that could be on the market for a new owner because they haven’t raised more than a seed round of venture capital in two years and may be running low on cash. Some founders have already pulled the plug on their startups, we discovered.At least eight early-stage startups in The... Last week, we published a list of creator economy startups that could be on the market for a new...

Klarna headquaters in Stockholm. Photo by Shutterstock.

Sequoia to Appoint Andrew Reed to Klarna Board After Failed Moritz Ouster

By Maria Heeter and Kate Clark · Feb 21, 2024 1:58pm PST · 1 comment

Sequoia Capital has picked partner Andrew Reed to replace Matthew Miller on the board of ‘buy now, pay later’ company Klarna, according to people familiar with the matter. Miller had joined the board in January and recently led a failed effort to remove former Sequoia leader Michael Moritz from his position as... Sequoia Capital has picked partner Andrew Reed to replace Matthew Miller on the board of...

Daniel Gross, left, and Nat Friedman. Photos via Wikipedia and Erin Beach.

The ‘Magic’ Breakthrough That Got Friedman and Gross to Bet $100 Million on a Coding Startup

By Stephanie Palazzolo and Amir Efrati · Feb 21, 2024 7:00am PST

Daniel Gross, left, and Nat Friedman. Photos via Wikipedia and Erin Beach.

The ‘Magic’ Breakthrough That Got Friedman and Gross to Bet $100 Million on a Coding Startup

By Stephanie Palazzolo and Amir Efrati · Feb 21, 2024 7:00am PST

Former GitHub CEO Nat Friedman and his investment partner, Daniel Gross, raised eyebrows last week by writing a $100 million check to Magic, the developer of an artificial intelligence coding assistant. There are loads of coding assistants already, and the top dog among them is Microsoft’s GitHub Copilot. So what did Friedman and Gross see in... Former GitHub CEO Nat Friedman and his investment partner, Daniel Gross, raised eyebrows last...