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

What We Got Wrong—and Right—in a Year of More or Less

By Jessica E. Lessin · Jun 28, 2024 10:28am PDT

Would Threads would overtake X? Will Sam Altman be toast? After 52 lively episodes, we looked back on some of our big themes, gave ourselves some grades and looked to the next year in tech. Hope you enjoy! Apple Spotify Would Threads would overtake X? Will Sam Altman be toast? After 52 lively episodes, we...

Art by Clark Miller

Fame, Feud and Fortune: Inside Billionaire Alexandr Wang’s Relentless Rise in Silicon Valley

By Cory Weinberg · Jun 28, 2024 9:00am PDT · 7 comments

In January 2021, Alexandr Wang’s friends and colleagues gathered for a party at his swank South of Market apartment, which featured a 2,000-foot private terrace with a hot tub and views of the San Francisco skyline. Wang, co-founder and CEO of Scale AI, wanted to mark his birthday with a bang: He was turning 24. Wang had spent the holidays... In January 2021, Alexandr Wang’s friends and colleagues gathered for a party at his swank...

Animoca Brands CEO Robby Yung. Photo via Web Summit.

Pro Weekly: Even Crypto Firms Are Thinking IPO

By Akash Pasricha · Jun 28, 2024 8:00am PDT

There are dozens of tech companies hoping to go public, including specialists in enterprise software, retail, artificial intelligence—and most surprisingly, crypto. This week, we reported that Animoca Brands, which owns stakes in more than 400 crypto and metaverse companies, is looking into going public next year. The company was previously... There are dozens of tech companies hoping to go public, including specialists in enterprise...

Art by Clark Miller. Maezawa via Getty Images

Behind the Demise of a Quirky Billionaire’s SpaceX Moon Mission

By Becky Peterson · Jun 28, 2024 6:00am PDT

Art by Clark Miller. Maezawa via Getty Images

Behind the Demise of a Quirky Billionaire’s SpaceX Moon Mission

By Becky Peterson · Jun 28, 2024 6:00am PDT

Yusaku Maezawa had just a few requests for SpaceX. In 2018, the Japanese e-commerce billionaire had agreed to pay SpaceX to fly himself and a crew of eight artists around the moon for a first-of-its-kind project called dearMoon. As part of the deal, Maezawa asked SpaceX to customize the interior of the crew capsule of Starship, the 400-foot-tall... Yusaku Maezawa had just a few requests for SpaceX. In 2018, the Japanese e-commerce billionaire...

The Washington Post's headquarters in Washington D.C. Photo via Shutterstock.

The Washington Post and the Ugly Truth of the Media Business

By Jessica E. Lessin · Jun 27, 2024 5:00pm PDT

This morning, I read Brian Stelter’s just-published opus in The Atlantic on the travails of The Washington Post and its owner, Jeff Bezos, with much interest.The paper’s business struggles and leadership crisis are a constant closed-door subject among news leaders right now. The piece is excellent and full of details about Bezos’ hands-off... This morning, I read Brian Stelter’s just-published opus in The Atlantic on the travails of The...

Tom Loverro, general partner at IVP. Photo by Christian Grattan/Patrick McMullan via Getty Images.

It’s Time for Startups to ‘Get Responsibly Aggressive’

By Kate Clark · Jun 27, 2024 3:25pm PDT

Early last year, venture capitalist Tom Loverro offered a grim prediction. He wrote that a mass extinction event was coming for startups that would make the 2008 financial crisis “look quaint.” At the time, he told companies to reduce expenses through layoffs and focus on survival rather than keeping their valuations high. Now he’s back... Early last year, venture capitalist Tom Loverro offered a grim prediction. He wrote that a mass...

VidCon 2024 in Anaheim, Calif. Photo by Kaya Yurieff.

Creator Economy

TikTok Pushes Long Video at VidCon; Webtoon’s IPO

By Kaya Yurieff and Julia Hornstein · Jun 27, 2024 3:08pm PDT

I’m at VidCon, where the Anaheim Convention Center is bustling and the mood is upbeat, even though it feels like brands and social apps shelled out less money for splashy pop up experiences and lounges than in the past. The displays did underscore how the creator economy is maturing, as more big brands get behind influencers. Fanta... I’m at VidCon, where the Anaheim Convention Center is bustling and the mood is upbeat, even...

An iPhone 13 Pro Max Battery Li-ion. Photo by Shutterstock

Apple Explores Novel Method for Making iPhone Batteries More Replaceable

By Qianer Liu and Wayne Ma · Jun 27, 2024 9:00am PDT

An iPhone 13 Pro Max Battery Li-ion. Photo by Shutterstock

Apple Explores Novel Method for Making iPhone Batteries More Replaceable

By Qianer Liu and Wayne Ma · Jun 27, 2024 9:00am PDT

Under pressure from regulators in Europe and elsewhere, Apple in recent years has taken small steps toward making the iPhone easier for consumers to repair. But self-repair remains a cumbersome step for consumers—particularly when it comes to battery replacement. Under a law passed by the European Union last year, phone makers have to... Under pressure from regulators in Europe and elsewhere, Apple in recent years has taken small...

Kuaishou's booth at last year's Shanghai Auto Show. Photo by Costfoto/NurPhoto via Getty Images.

China’s AI Sector Faces Fallout From U.S. Chip Curbs

By Qianer Liu and Juro Osawa · Jun 27, 2024 8:00am PDT · 1 comment

U.S. rules curbing the export of artificial intelligence chips to China are beginning to squeeze the country’s AI industry. And companies ranging from behemoths like Alibaba to rising startups like Moonshot AI are all grappling with the impact. After Chinese online video giant Kuaishou unveiled a test version of Kling, its text-to-video AI... U.S. rules curbing the export of artificial intelligence chips to China are beginning to squeeze...

Microsoft CEO Satya Nadella. Photo by Jason Redmond/AFP via Getty Images.

A Peek Behind OpenAI’s Financials; Don’t Underestimate China

By Stephanie Palazzolo · Jun 27, 2024 7:20am PDT · 1 comment

We repeatedly heard two questions following our report on OpenAI’s staggering revenue growth earlier this month: What percentage of revenue comes from ChatGPT subscriptions versus OpenAI’s application programming interface, through which app developers can access its models? And what are OpenAI’s computing costs?This morning’s in-depth piece... We repeatedly heard two questions following our report on OpenAI’s staggering revenue growth...

Sam Altman, left and Satya Nadella. Photos via Getty, art by Mike Sullivan

In a Surprise, OpenAI Is Selling More of Its AI Models Than Microsoft Is

By Aaron Holmes · Jun 27, 2024 6:00am PDT · 4 comments

When Microsoft formed an alliance in 2019 with OpenAI to resell the startup’s artificial intelligence, it brought the reputation, connections and sales muscle to the table that seemed key for winning deals with large customers. Turns out OpenAI itself has gotten pretty good at cutting those deals. The revenue that the startup—best... When Microsoft formed an alliance in 2019 with OpenAI to resell the startup’s artificial...

Albemarle's lithium processing plant at Kings Mountain, North Carolina. Photo: Getty

The Electric: Albemarle Wants a Premium Price for U.S.-Made Lithium

By Steve LeVine · Jun 27, 2024 4:30am PDT

Albemarle's lithium processing plant at Kings Mountain, North Carolina. Photo: Getty

The Electric: Albemarle Wants a Premium Price for U.S.-Made Lithium

By Steve LeVine · Jun 27, 2024 4:30am PDT

A senior U.S. lithium industry executive has called for Western car and battery companies to pay a premium for lithium refined in the U.S., arguing that prices for the metal are too low to cover the cost of building and running processing plants there. A senior U.S. lithium industry executive has called for Western car and battery companies to pay...

Kirsten Dunst at the premiere of A24's Civil War earlier this year. Photo by Eric Charbonneau/Getty Images.

What Thrive Capital’s A24 Investment Means for Hollywood and AI

By Kate Clark · Jun 26, 2024 5:00pm PDT

I'd prefer that artificial intelligence stay out of filmmaking, but like any other industry, AI is bound to disrupt Hollywood, especially if it’s left up to venture capitalists. News this morning proves it. Independent film studio A24 announced that it has raised money from New York venture capital firm Thrive Capital, run by Josh Kushner—... I'd prefer that artificial intelligence stay out of filmmaking, but like any other industry, AI...

The mother of a child who died doing an internet challenge speaks during a rally to hold tech and social media companies accountable for taking steps to protect kids and teens online on January 31 in Washington, D.C. Photo by Jemal Countess/Getty Images.

Creator Economy

The Crush of Online Safety Bills Is Too Big to Ignore

By Sylvia Varnham O'Regan · Jun 26, 2024 3:09pm PDT · 2 comments

The Kids Online Safety Act, a federal bill that requires social media platforms to take “reasonable measures” to prevent harm, is scheduled to be considered by the House Energy and Commerce Committee Thursday. It’s a small step for proponents of the bill after years of political rumblings about the need for tougher controls over social... The Kids Online Safety Act, a federal bill that requires social media platforms to take “...

Photo by AP.

Amazon To Launch Temu-Like Discount Section With Direct Shipping From China

By Jing Yang and Theo Wayt · Jun 26, 2024 10:08am PDT · 3 comments

Amazon plans to launch a section on its shopping site featuring cheap items that ship directly to overseas consumers from warehouses in China, according to slides shown to Chinese sellers, marking the e-commerce giant’s most aggressive response yet to the growth of bargain sites like Temu and Shein. The new marketplace will offer unbranded... Amazon plans to launch a section on its shopping site featuring cheap items that ship directly to...

Alexandr Wang, co-founder and CEO of Scale AI. Photo by Getty.

What Scale AI Tells Us About Humans and AI

By Laura Mandaro · Jun 26, 2024 7:00am PDT · 1 comment

Alexandr Wang, co-founder and CEO of Scale AI. Photo by Getty.

What Scale AI Tells Us About Humans and AI

By Laura Mandaro · Jun 26, 2024 7:00am PDT · 1 comment

We’re in the throes of artificial intelligence fever, but lessons from the last AI hype cycle still linger. Nearly four years ago, my colleague Amir published two stories detailing how businesses were starting to use artificial intelligence in meaningful (if sometimes rarified) ways, from checking the health of a Norwegian fish farm’s stock... We’re in the throes of artificial intelligence fever, but lessons from the last AI hype cycle...

Animoca Brands animations. Photos via Animoca Brands.

Animoca Brands Looks to Crypto-Friendly Markets for Potential 2025 Listing

By Yueqi Yang · Jun 26, 2024 6:00am PDT

Animoca Brands, a crypto gaming and metaverse conglomerate valued at $6 billion in 2022, is considering a public listing in Hong Kong or the Middle East as early as next year, co-founder and executive chair Yat Siu said. That would mark a return to public markets for the company, more than four years after it delisted from the Australian... Animoca Brands, a crypto gaming and metaverse conglomerate valued at $6 billion in 2022, is...

Riders exit a Waymo self-driving car in front of Google's San Francisco headquarters. Photo by Smith Collection/Gado/Getty Images.

Why Waymo’s Accelerating Progress Deserves More Attention

By Martin Peers · Jun 25, 2024 5:00pm PDT · 2 comments

And now for some good news. Self-driving cars, after more than a decade of overhyped chatter, are actually getting somewhere.Waymo, Alphabet’s self-driving car unit, on Tuesday extended its robotaxi service to everyone in San Francisco, four years after it made a similar move in Phoenix. Also on Tuesday, Uber Freight and Aurora announced that... And now for some good news. Self-driving cars, after more than a decade of overhyped chatter, are...

Zepto delivery drivers near New Delhi, India. Photo via Shutterstock.

Indian Delivery Star Discusses $5 Billion Valuation

By Kate Clark · Jun 25, 2024 3:31pm PDT

Last week, I reported that Zepto, an Indian instant-delivery company, was closing a new round at a valuation of $3.6 billion, the first financing for a non–artificial intelligence startup I’ve written about in ages. Since then, I’ve learned the company is already in discussions with investors about raising more, at a higher valuation, as U.S.... Last week, I reported that Zepto, an Indian instant-delivery company, was closing a new round at...

Creators on stage at VidCon 2023. Photo by Unique Nicole/Getty Images.

What to Expect at VidCon

By Kaya Yurieff · Jun 25, 2024 2:00pm PDT

Creators on stage at VidCon 2023. Photo by Unique Nicole/Getty Images.

Creator Economy

What to Expect at VidCon

By Kaya Yurieff · Jun 25, 2024 2:00pm PDT

I’m in Los Angeles this week ahead of VidCon, the annual conference focused on creators. The organizers of the event, which last year drew 55,000 people, expect the biggest theme this year to be the creator economy’s “coming of age.” After the boom in venture funding for startups and hype around the sector dissipated, investments have ... I’m in Los Angeles this week ahead of VidCon, the annual conference focused on creators. The...