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

Art by Mike Sullivan

Creator Economy

TikTok Lays the Groundwork for More European Ecommerce

By Michael Roddan · Aug 8, 2024 2:00pm PDT

TikTok over the last year has been encouraging more creators to livestream, where they can sell products or earn digital gifts that convert to cash. To beef up its European business, it’s been trying to build out its payments functions. But these efforts have hit some snags. Earlier this year its parent ByteDance withdrew an application for... TikTok over the last year has been encouraging more creators to livestream, where they can sell...

Art by Mike Sullivan.

Amazon Enlists TikTok, Pinterest in Quest to Sell Everywhere

By Theo Wayt · Aug 8, 2024 11:43am PDT · 4 comments

Amazon’s e-commerce business is huge but slow-growing, while shopping on social media has been taking off. That’s prompted Amazon to look for ways to team up with popular social media apps. It’s finally landed a key partner. TikTok will enable users to buy items from Amazon advertisements without leaving the TikTok app, an... Amazon’s e-commerce business is huge but slow-growing, while shopping on social media has...

Photo by Getty

Why Uber is a Better Bet Than DoorDash

By Anita Ramaswamy · Aug 8, 2024 10:54am PDT · 3 comments

For almost the entire time since DoorDash went public in late 2020 the restaurant-delivery service has traded at a premium valuation to Uber. Lately the gap between the two stocks has nearly closed, although the much bigger ride-hailing and delivery firm remains the underdog of the pair. While that made sense early on, when the pandemic blitzed... For almost the entire time since DoorDash went public in late 2020 the restaurant-delivery...

Vlad Tenev, co-founder and CEO of Robinhood and co-founder of Harmonic. Photo by Bloomberg via Getty.

Sequoia Capital Has Discussed Funding AI Reasoning Startup Cofounded by Robinhood CEO

By Jon Victor · Aug 8, 2024 7:00am PDT · 2 comments

Vlad Tenev, co-founder and CEO of Robinhood and co-founder of Harmonic. Photo by Bloomberg via Getty.

Sequoia Capital Has Discussed Funding AI Reasoning Startup Cofounded by Robinhood CEO

By Jon Victor · Aug 8, 2024 7:00am PDT · 2 comments

One of the newest entrants in the race to develop artificial intelligence that can reason through problems is about to raise a bunch more money. Harmonic, a startup cofounded last year by Robinhood CEO Vlad Tenev and self-driving vehicle entrepreneur Tudor Achim, has been in talks to raise funding from investors including Sequoia Capital... One of the newest entrants in the race to develop artificial intelligence that can reason through...

Photo via AP

Snowflake Looks to an AI Deal to Jump-Start Growth

By Stephanie Palazzolo · Aug 8, 2024 6:00am PDT · 1 comment

Snowflake had been riding high before the artificial intelligence boom. But questions about the usefulness of its data management products for AI developers—a growing source of revenue for rivals like Databricks—and a broader pullback in business software spending have sent its stock plummeting 42% so far this year. Now, in an effort... Snowflake had been riding high before the artificial intelligence boom. But questions about the...

Albemarle CEO Kent Masters. Photo: Bloomberg/Getty

The Electric: Outcompeted by China, Battery Makers Seek More U.S. Largesse

By Steve LeVine · Aug 8, 2024 4:30am PDT

U.S. battery component and metals suppliers—increasingly doubtful about their ability to compete with low-cost Chinese rivals—want greater federal subsidies and tighter restrictions on U.S. support to Chinese companies. The lobbying push will likely raise tensions with U.S.-based automakers, which need Chinese-made materials to make their... U.S. battery component and metals suppliers—increasingly doubtful about their ability to compete...

Photo by Bloomberg via Getty.

What Quarterly Updates Reveal About Consumer Spending

By Martin Peers · Aug 7, 2024 5:00pm PDT

We’re in unstable times. Today’s stock market action, where a morning rally gave way to an afternoon sell-off, was the latest evidence. There’s surely lots of reasons for this volatility, but uncertainty about the economy has to be top of the list.Some quarterly earnings reports in the past couple of days demonstrated why investors might be... We’re in unstable times. Today’s stock market action, where a morning rally gave way to an...

Gymnast Stephen Nedoroscik on day three of the Paris Olympic Games on July 29. Photo by Daniela Porcelli/Eurasia Sport Images/Getty.

The Paris Olympics Is Minting New Creators

By Julia Hornstein · Aug 7, 2024 2:49pm PDT

Gymnast Stephen Nedoroscik on day three of the Paris Olympic Games on July 29. Photo by Daniela Porcelli/Eurasia Sport Images/Getty.

Creator Economy

The Paris Olympics Is Minting New Creators

By Julia Hornstein · Aug 7, 2024 2:49pm PDT

If the Paris Olympics has shown us anything, it’s that athletes are going viral for more than winning medals in their sports. American gymnast Stephen Nedoroscik, who became known as “Pommel Horse Guy” after winning two bronze medals at the Games, has incited a social media storm of dad jokes and has caused boys to join gymnastics... If the Paris Olympics has shown us anything, it’s that athletes are going viral for more than...

A Jio store in Kolkata, India. Photo by Getty

Meta in Talks With Indian Tech Giant Jio Over Possible VR Deal

By Sylvia Varnham O'Regan, Wayne Ma and Amir Efrati · Aug 7, 2024 10:03am PDT

Meta Platforms is in talks to license its Horizon virtual reality software to Indian technology company Jio, according to three people with knowledge of the situation, the latest sign of how Meta is trying to extend its influence in VR and augmented reality beyond its own devices. The talks, which may not lead to a deal, center on Meta providing... Meta Platforms is in talks to license its Horizon virtual reality software to Indian technology...

Photo by Bloomberg via Getty.

OpenAI Makes a $60 Million Hardware Startup Bet

By Stephanie Palazzolo and Kate Clark · Aug 7, 2024 7:00am PDT

OpenAI CEO Sam Altman has long been interested in building an AI-powered device for consumers, similar to the one featured in Spike Jonze’s movie “Her.” He’s personally invested in wearable AI pin startup Humane and separately worked with ex-Apple designer Jony Ive on a personal AI device.Now OpenAI startup's fund, which invests in promising AI... OpenAI CEO Sam Altman has long been interested in building an AI-powered device for consumers,...

Art by Clark Miller.

Zillow’s Mortgage Push Has Some Critics Crying Foul

By Michael Roddan · Aug 7, 2024 6:00am PDT

Zillow, the online real estate listings powerhouse, has tried for years to diversify its business away from advertising. It tried flipping homes but abandoned that effort after losing lots of money. Now, its biggest chance at branching out is using its strength in home listings and tight relationships with real estate agents to grow its mortgage... Zillow, the online real estate listings powerhouse, has tried for years to diversify its business...

Ray-Ban Meta smart glasses on display. Photo by NurPhoto via Getty.

Meta’s Ray-Ban Glasses Deserve More Attention

By Martin Peers · Aug 6, 2024 5:00pm PDT · 3 comments

Ray-Ban Meta smart glasses on display. Photo by NurPhoto via Getty.

Meta’s Ray-Ban Glasses Deserve More Attention

By Martin Peers · Aug 6, 2024 5:00pm PDT · 3 comments

You might not know it from the news of the past few days, but weather-wise we’re in the dog days of August. And that’s an ideal time to try Meta Platforms’ Ray-Ban smart glasses (no one wants to walk around wearing sunglasses in the winter gloom). Based on my personal experience, Meta Platforms CEO Mark Zuckerberg is onto something when he... You might not know it from the news of the past few days, but weather-wise we’re in the dog days...

OpenAI co-founder John Schulman. Photo via UC Berkeley.

The AI Founder Exodus

By Kate Clark · Aug 6, 2024 3:30pm PDT · 1 comment

There must be something in the air in Silicon Valley, because founders are leaving their companies left and right. OpenAI, still recovering from its board’s short-lived ouster of CEO Sam Altman, has seen a steady stream of co-founders depart this year. The latest example is John Schulman, who’s joining rival artificial intelligence company... There must be something in the air in Silicon Valley, because founders are leaving their...

Art by Clark Miller.

Crypto Industry Courts Kamala Harris

By Yueqi Yang · Aug 6, 2024 2:38pm PDT · 2 comments

Crypto executives and other industry boosters are racing to get face time with Vice President Kamala Harris and her representatives ahead of November’s presidential election, seeing a chance for a fresh start after a bruising crackdown under President Joe Biden’s administration. Industry groups including the Blockchain Association... Crypto executives and other industry boosters are racing to get face time with Vice President...

Chart by Shane Burke

Creator Economy

Creator Economy Job Openings Are Picking Up

By Kaya Yurieff · Aug 6, 2024 1:56pm PDT

A weak July jobs report last week has been rocking the stock market. But in the creator economy, hiring has been picking up—at least as of the second quarter. The number of open roles at creator-related companies rose 66% during the second quarter compared to the first three months of the year, according to Creator Economy Jobs, a job board... A weak July jobs report last week has been rocking the stock market. But in the creator economy,...

Photo by Bloomberg via Getty.

Nvidia’s GPUs Have a Weakness: Video Generation

By Stephanie Palazzolo · Aug 6, 2024 7:00am PDT · 2 comments

Photo by Bloomberg via Getty.

Nvidia’s GPUs Have a Weakness: Video Generation

By Stephanie Palazzolo · Aug 6, 2024 7:00am PDT · 2 comments

There’s no question that Nvidia has benefitted the most from the AI wave so far. So much so, in fact, that the U.S. Department of Justice is investigating complaints that the chipmaker is engaging in anticompetitive behavior, Anissa, Amir and I reported last week.But luckily for the host of rivals hoping to take a slice of Nvidia’s lucrative... There’s no question that Nvidia has benefitted the most from the AI wave so far. So much so, in...

Klarna's headquarters in Stockholm. Photo by Erika Gerdemark/Bloomberg via Getty.

Klarna Weighs Secondary Share Sale Ahead of IPO

By Natasha Mascarenhas, Kate Clark and Cory Weinberg · Aug 6, 2024 6:00am PDT · 3 comments

Klarna, the Swedish “buy now, pay later” firm, has been preparing what would be one of next year’s first big tech initial public offerings. First it wants to see if investors think it’s worth more than the roughly $7 billion valuation awarded during its last fundraising. The Sequoia Capital–backed startup has been... Klarna, the Swedish “buy now, pay later” firm, has been preparing what would be one...

OpenAI cofounder Greg Brockman. Photo via Getty

Trio of OpenAI Leaders Depart, Take Leave of Absence

By Stephanie Palazzolo, Jon Victor and Amir Efrati · Aug 5, 2024 5:31pm PDT · 7 comments

Greg Brockman, OpenAI’s president and one of 11 cofounders of the artificial intelligence firm, is taking an extended leave of absence. Another cofounder and key leader, John Schulman, has decamped to Anthropic, a fierce rival founded by ex-OpenAI researchers. And Peter Deng, a product leader who joined the company last year after leading... Greg Brockman, OpenAI’s president and one of 11 cofounders of the artificial intelligence...

Google CEO, Sundar Pichai. Photo by Jeff Chiu/AP.

Wall Street Unperturbed by Google Ruling

By Martin Peers · Aug 5, 2024 5:09pm PDT

Antitrust regulators don’t scare big tech investors. Stock of Google’s parent Alphabet fell by only a couple of percentage points after a judge found Google had broken antitrust laws in its efforts to protect its monopoly in search. Shares of Apple, which arguably stands to lose as much from the ruling as Google, fell even less. (Both stocks... Antitrust regulators don’t scare big tech investors. Stock of Google’s parent Alphabet fell by...

From left, Satya Nadella, Sundar Pichai and Tim Cook. Photos via Getty.

After Google Antitrust Loss, Some at Microsoft See an Opening for Bing

By Aaron Holmes and Erin Woo · Aug 5, 2024 4:34pm PDT · 1 comment

From left, Satya Nadella, Sundar Pichai and Tim Cook. Photos via Getty.

After Google Antitrust Loss, Some at Microsoft See an Opening for Bing

By Aaron Holmes and Erin Woo · Aug 5, 2024 4:34pm PDT · 1 comment

As Google faces repercussions from a landmark federal ruling declaring its search engine an illegal monopoly, Microsoft, another dominant tech firm, stands to benefit at Google's expense. After the ruling, several senior managers at Microsoft’s Bing search engine privately voiced their excitement at the possibility that Bing could... As Google faces repercussions from a landmark federal ruling declaring its search engine an...