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 Shane Burke/Shutterstock.

As TikTok Files Lawsuit, Employees Ponder Their Future

By Juro Osawa, Qianer Liu and Kaya Yurieff · May 8, 2024 6:00am PDT

The day President Joe Biden signed a law that would ban TikTok in the U.S. if it doesn't cut ties with its Chinese parent, ByteDance, within a year, TikTok CEO Shou Zi Chew and other senior executives led an all-hands meeting for staff, reassuring them that TikTok will successfully fight the new law. Chew struck an optimistic tone. At one... The day President Joe Biden signed a law that would ban TikTok in the U.S. if it doesn't cut...

Partner Content

Recap: The Next Climate Tech Investment Boom

By The Information Partnerships · May 7, 2024 8:46pm PDT

Over the last five years, there have been promising advances in climate technologies—and they could have a real impact on reducing greenhouse gases. But all of these technologies have one thing in common: They need support for a large range of financial needs. Steve LeVine, editor of The Electric, sat down with three climate tech venture... Over the last five years, there have been promising advances in climate technologies—and...

Disney CEO Bob Iger. Photo by Michael Blackshire / Los Angeles Times via Getty Images.

Disney Turns a Corner in Streaming, but Market Is Unimpressed

By Martin Peers · May 7, 2024 5:00pm PDT · 1 comment

You can just imagine what Disney CEO Bob Iger was thinking today: If it’s not one thing, it’s another. Disney surprised the market by reporting that its streaming services all but broke even in the March quarter, a notable achievement given that it was wallowing in red ink just a few quarters ago. But the pesky worrywarts of the stock market... You can just imagine what Disney CEO Bob Iger was thinking today: If it’s not one thing, it’s...

Photo via Adobe Stock

‘If Not Now, When?’: Late-Stage Investors Open Their Wallets

By Kate Clark · May 7, 2024 3:01pm PDT

Photo via Adobe Stock

‘If Not Now, When?’: Late-Stage Investors Open Their Wallets

By Kate Clark · May 7, 2024 3:01pm PDT

Venture capitalists are getting comfortable writing big checks again, judging by April deal activity. The lingering panic that’s occupied the private tech markets for the past two years is subsiding, investors say, due to the stock market’s rebound and because these larger investors are fed up with hoarding cash. So, despite the slow... Venture capitalists are getting comfortable writing big checks again, judging by April deal...

AI generated images of Katy Perry and Rihanna circulated on social media. Screenshots via X and Instagram

Creator Economy

The Met Gala Had An AI Problem, Not A TikTok One

By Kaya Yurieff · May 7, 2024 2:00pm PDT · 1 comment

Ahead of Monday night’s Met Gala, you had to wonder whether TikTok’s first-time sponsorship of the high-profile fashion and fundraising event would set up an awkward dynamic given the app’s uncertain future in the U.S. Instead, the Met Gala had an artificial intelligence problem, not a TikTok one. Ahead of Monday night’s Met Gala, you had to wonder whether TikTok’s first-time sponsorship of...

Photo by Leonardo Munoz/VIEWpress.

Google Beefs Up AI Sales Effort to Persuade Businesses to Start Buying

By Jon Victor · May 7, 2024 8:00am PDT

Google’s cloud computing unit is adding hundreds of salespeople and engineers to new artificial intelligence–focused teams—including staff moved from other parts of Google Cloud—as it embarks on a major push to get businesses to adopt its Gemini model and other AI software. In recent weeks, the company has been moving... Google’s cloud computing unit is adding hundreds of salespeople and engineers to new...

Shein's warehouse in Whitestown, Indiana. Photo by Scott Olson/Getty Images.

Shein to Prioritize Compliance Amid U.S. Forced Labor Crackdown

By Jing Yang · May 7, 2024 7:30am PDT · 2 comments

China-founded fashion giant Shein told employees it is stepping up its efforts to keep products made with forced labor off its site, citing tougher U.S. enforcement to screen low-value parcels that previously received little customs scrutiny. In a memo to senior managers, Shein’s executive chair, Donald Tang, said the company is... China-founded fashion giant Shein told employees it is stepping up its efforts to keep products...

The Rabbit r1 and Humane Ai pin.

AI Devices Get A Rude Wake-Up Call; A Mysterious OpenAI Product Event Is Likely Postponed

By Stephanie Palazzolo · May 7, 2024 7:00am PDT

The Rabbit r1 and Humane Ai pin.

AI Devices Get A Rude Wake-Up Call; A Mysterious OpenAI Product Event Is Likely Postponed

By Stephanie Palazzolo · May 7, 2024 7:00am PDT

It’s been hard to miss the absolute beating AI-powered devices have gotten in recent weeks.First, we saw YouTuber Marques Brownlee’s scorching review of the $699 Humane Ai Pin, which he deemed the “worst product” he’s ever reviewed. (Yikes.)Next, the rabbit r1, a kitschy, bright-orange handheld device that first went viral when it launched at... It’s been hard to miss the absolute beating AI-powered devices have gotten in recent weeks.First,...

Art by Clark Miller. Photo of BuzzFeed's Jonah Peretti via Getty Images

‘It’s Been Painful’: What Jonah Peretti Says Went Wrong at BuzzFeed

By Paris Martineau and Sahil Patel · May 7, 2024 6:00am PDT · 3 comments

In late 2021, Jonah Peretti, CEO of BuzzFeed, logged onto a virtual all-hands meeting to tell the staffers of Complex—a publication BuzzFeed was then in the process of acquiring—how much the media brand meant to him. In an effort to connect with Complex’s coverage of sneaker culture, Peretti recalled a prank he had pulled as a... In late 2021, Jonah Peretti, CEO of BuzzFeed, logged onto a virtual all-hands meeting to tell the...

The trailer for Netflix's "The Roast of Tom Brady." Photo via YouTube/Netflix.

The Briefing: Netflix’s Tom Brady Roast Is a Hit

By Martin Peers · May 6, 2024 5:00pm PDT

Ted Sarandos should be pleased. Sunday night’s roast of retired NFL quarterback Tom Brady, aired live on Netflix, was a cultural hit, judging from the flood of praise on X (see here, here and here) and news media coverage like this. If nothing else, this symbolizes what old-TV giants have lost to Netflix. People of a certain age may remember... Ted Sarandos should be pleased. Sunday night’s roast of retired NFL quarterback Tom Brady, aired...

The Enovix office in Fremont, Calif. Photo via Shutterstock.

Battery Developer Enovix Lays Off Roughly One-Third of Staff

By Steve LeVine · May 6, 2024 12:24pm PDT

A week after reporting a battery development agreement with an unnamed maker of smartphones, silicon battery maker Enovix on Monday laid off approximately 170 workers at its Fremont, Calif., factory. The layoff appeared to be part of a company attempt, announced last week, to reduce annual operating costs by $35 million before the end of the... A week after reporting a battery development agreement with an unnamed maker of smartphones,...

Photo by Krisztian Bocsi/Bloomberg via Getty Images.

Meet MAI-1: Microsoft Readies New AI Model to Compete With Google, OpenAI

By Aaron Holmes · May 6, 2024 7:20am PDT

Photo by Krisztian Bocsi/Bloomberg via Getty Images.

Meet MAI-1: Microsoft Readies New AI Model to Compete With Google, OpenAI

By Aaron Holmes · May 6, 2024 7:20am PDT

For the first time since it invested more than $10 billion into OpenAI in exchange for the rights to reuse the startup’s AI models, Microsoft is training a new, in-house AI model large enough to compete with state-of-the-art models from Google, Anthropic and OpenAI itself.The new model, internally referred to as MAI-1, is being overseen by ... For the first time since it invested more than $10 billion into OpenAI in exchange for the rights...

From left: Melanie Perkins, CEO of Canva; Parker Conrad, CEO of Rippling; Ali Ghodsi, CEO of Databricks; Dylan Field, CEO of Figma. Photos by Getty

How Investment Banks Are Helping Canva, Stripe, Figma Stay Private

By Cory Weinberg · May 6, 2024 6:00am PDT

When Goldman Sachs CEO David Solomon gathered two dozen tech executives, bankers and investors to a wine and steak dinner in Las Vegas last November, seated next to him was Cliff Obrecht, co-founder of Canva, a $26 billion privately held design software company. Canva is exactly the kind of company Goldman would look to take public one... When Goldman Sachs CEO David Solomon gathered two dozen tech executives, bankers and investors to...

CATL shows off its 375-mile Shenxing Plus battery at the Beijing Auto Show. Photo by Zhou Chengfeng/VCG/Getty

The Electric: Should Iron-Based Batteries Be a National Security Priority?

By Steve LeVine · May 6, 2024 4:30am PDT · 2 comments

Last week, the Biden administration released its final rules attempting to cut China out of the U.S. battery supply chain and encourage American companies to build battery and electric vehicle manufacturing capacity in the U.S. It left one conspicuous opening for Chinese companies: For two years, they could continue to supply graphite to U.S.... Last week, the Biden administration released its final rules attempting to cut China out of the...

Art by Clark Miller

Weekend: FTX and the Shipwreck Treasure

By Abram Brown · May 4, 2024 7:00am PDT

Welcome, Weekenders! In this newsletter:A race against Apple that didn’t go as expectedSilicon Valley’s favorite new supplementsPlus: The terrors of an AI afterlife; a CEO who loves to war; and the hit that Netflix missed.A very rare watch sold for $1.5 million at auction a few days ago, a 14-karat gold heirloom belonging to John Jacob Astor IV,... Welcome, Weekenders! In this newsletter:A race against Apple that didn’t go as expectedSilicon...

Art by Clark Miller

Silicon Valley’s Favorite New Supplements

By Ashwin Rodrigues · May 4, 2024 5:00am PDT · 7 comments

Art by Clark Miller

Silicon Valley’s Favorite New Supplements

By Ashwin Rodrigues · May 4, 2024 5:00am PDT · 7 comments

Everyone in Silicon Valley is on something these days. In all, the global supplement industry is expected to surpass $192 billion in 2024, driven by web ads, podcast hosts and word-of-mouth recommendations. There are the time-tested basics, like creatine and protein powders, as well as a medicine cabinet’s worth of more unusual and much... Everyone in Silicon Valley is on something these days. In all, the global supplement industry is...

Photo by Kevin Dietsch/Getty Images.

The Big Threat Hanging Over Google

By Martin Peers · May 3, 2024 3:27pm PDT

If you’re lying awake at 3 a.m. one night, try reading the Justice Department’s 509-page “proposed finding of fact” in its antitrust lawsuit against Google’s search business, a revised version of which was filed with the court on Tuesday. You likely won’t make it past the extensive table of contents before you fall asleep. Even so, getting... If you’re lying awake at 3 a.m. one night, try reading the Justice Department’s 509-page “...

Chris Clark and Diane Yoon. Photos via YouTube and Talent Summit.

Two Senior OpenAI Executives Leave Company

By Jon Victor · May 3, 2024 2:33pm PDT · 1 comment

Two senior OpenAI executives—vice president of people Diane Yoon and Chris Clark, head of nonprofit and strategic initiatives—left the company earlier this week, a company spokesperson said. The two resignations are the latest high-profile changes to OpenAI’s leadership in the aftermath of Sam Altman’s dramatic ouster and... Two senior OpenAI executives—vice president of people Diane Yoon and Chris Clark, head of...

How Tech Cos. Quit the Culture Wars

By Jessica E. Lessin · May 3, 2024 1:03pm PDT

Amid the wave of campus protests and encampments, I've been surprised there hasn't been more conversation about activism at tech companies. This week, we dove into why things have been quiet on the corporate front and why everyone is talking about hardware, "boring phones" and games. Enjoy! Apple Spotify Amid the wave of campus protests and encampments, I've been surprised there hasn't been...

Art by Clark Miller

How Whoop Survived a Race Against the Apple Watch—And Made Its Wearables a Hit Among Athletes

By Akash Pasricha · May 3, 2024 9:00am PDT · 4 comments

Art by Clark Miller

How Whoop Survived a Race Against the Apple Watch—And Made Its Wearables a Hit Among Athletes

By Akash Pasricha · May 3, 2024 9:00am PDT · 4 comments

Up on the roof above corporate headquarters, Will Ahmed eyed the weather as April wind and rain swirled. “We’re going to make this a surgical strike,” he said, and off we trotted toward two giant baths filled with 42-degree water. We slid in, dunking our heads beneath the surface—and were greeted by the kind of cold that... Up on the roof above corporate headquarters, Will Ahmed eyed the weather as April wind and rain...