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

OpenView's office building in the South Boston waterfront. Photo by 123RF.

OpenView, After Deep Layoffs, Mulls Returning Capital or Raising New Funds

By Natasha Mascarenhas · Dec 11, 2023 5:22pm PST · 2 comments

OpenView Ventures’ sudden decision last week to lay off most of its staff and halt investments in new startups left one major question unanswered: what to do with the $570 million that endowments and other institutions recently committed to its latest fund. Earlier Monday, the firm’s senior partners held all-day meetings to review... OpenView Ventures’ sudden decision last week to lay off most of its staff and halt...

Ruth Porat, President and Chief Investment Officer of Alphabet, is one of many executives to transition from Chief Financial Officer roles in 2023. Photo by Noam Galai/Getty Images.

This Year’s CFO Revolving Door

By Martin Peers · Dec 11, 2023 5:00pm PST

Quick quiz: Which C-suite position has the least job security? This year, at least, the answer would have to be chief financial officer, arguably the No. 2 executive at most big public companies. In tech and media in 2023, we’ve seen CFO departures (or CFOs taking a different position internally) at Alphabet, Uber, Tesla, Disney, Stripe, Airbnb,... Quick quiz: Which C-suite position has the least job security? This year, at least, the answer...

Lighthouse leaders from left to right: Lucy Tate, Jon Goss, and Steve Nolte. Photo: Whalar

Creator Economy

Whalar Expands From Influencer Marketing to Software and Creator Campuses

By Kaya Yurieff · Dec 11, 2023 2:26pm PST

The past few years have brought an explosion of creator economy startups that tended to focus on one niche offering, say tax help or online courses. As many struggle with a drop in venture funding, some boot-strapped companies have been expanding. Whalar, best known for influencer marketing and managing creators, has quietly launched... The past few years have brought an explosion of creator economy startups that tended to focus on...

Photo via Getty.

How Real is the GPU Shortage?

By Stephanie Palazzolo · Dec 11, 2023 7:57am PST

Photo via Getty.

How Real is the GPU Shortage?

By Stephanie Palazzolo · Dec 11, 2023 7:57am PST

Startups have gone to extreme measures this year to get a hold of graphics processing units, the rare chips needed to train and run AI models. They’ve tried everything from raising capital from cloud providers like Microsoft, Google and Amazon to building bots that scour hyperscalers’ websites in search of open servers.One AI founder, though,... Startups have gone to extreme measures this year to get a hold of graphics processing units, the...

Art by Mike Sullivan

Musk Inc.: How the Tesla CEO Harnesses His Companies to Help Each Other

By Becky Peterson · Dec 11, 2023 6:00am PST · 2 comments

Last week, Elon Musk’s X began giving subscribers to its premium, advertising-free version access to a new feature: Grok, a sassy artificial intelligence chatbot created by xAI, a separate AI startup that Musk founded. To some, it wasn’t clear why mashing together the chatbot with the service formerly known as Twitter—or... Last week, Elon Musk’s X began giving subscribers to its premium, advertising-free...

Battery production in China's Jiangxi province, where lithium is mined from lepidolite. Photo: by VCG/Getty

The Electric: Plunging Lithium Prices Could Herald Cheaper EVs

By Steve LeVine · Dec 11, 2023 4:30am PST

In a May 2022 note titled, “The End of the Beginning,” Goldman Sachs analyst Nicholas Snowdon said high lithium prices had ignited a surge of new production in Australia, Chile and China, creating a coming flood of supplies that would knock the metal’s price into a sharp decline. From $65 a kilogram at the time, he predicted lithium would fall... In a May 2022 note titled, “The End of the Beginning,” Goldman Sachs analyst Nicholas Snowdon...

Mujeeb Ijaz, who stepped down as CEO of Our Next Energy. Photo: Courtesy ONE.

The Electric: Our Next Energy CEO’s Demotion Followed Investor Withdrawal

By Steve LeVine · Dec 10, 2023 3:38pm PST · 1 comment

The surprising demotion Sunday of the CEO of next-generation battery developer Our Next Energy was triggered by the withdrawal of a $100 million investment by a U.K. firm, according to people familiar with the situation. The surprising demotion Sunday of the CEO of next-generation battery developer Our Next Energy...

Art by Clark Miller

The 10X Awards: Ranking the Winners and Losers of The Information’s First Decade

By Margaux MacColl, Julia Black, Annie Goldsmith and Jon Steinberg · Dec 9, 2023 6:00am PST · 3 comments

Art by Clark Miller

The 10X Awards: Ranking the Winners and Losers of The Information’s First Decade

By Margaux MacColl, Julia Black, Annie Goldsmith and Jon Steinberg · Dec 9, 2023 6:00am PST · 3 comments

It was the best of times (for big tech), it was the worst of times (for WeWork investors), it was the strangest of times (for Elon Musk). The past 10 years has witnessed so much, and The Information has covered it all—from good deals to bad bets to ugly blowups on social media. In honor of our 10th anniversary, we present the 10X Awards:... It was the best of times (for big tech), it was the worst of times (for WeWork investors), it was...

From Day One to Decade One

From Day One to Decade One

By Jon Steinberg · Dec 9, 2023 6:00am PST

Hi, welcome to your Weekend: 10th Anniversary Edition!Ten years isn't a lot in geologic or California redwood time—but it's an eternity in media time. Just ask some of the news startups that went bankrupt over the last decade. So what secrets have we at The Information gathered in our first ten years of bringing business news to the business... Hi, welcome to your Weekend: 10th Anniversary Edition!Ten years isn't a lot in geologic or...

A Microsoft Store in London. Photo by Peter Dazeley/Getty Images.

Regulators Scrutinize Microsoft-OpenAI Partnership; Shein’s IPO Hurdles

By Martin Peers · Dec 8, 2023 3:30pm PST

You knew it was just a matter of time. Regulators in the U.K. and U.S. are looking into the antitrust implications of Microsoft’s partnership with OpenAI, according to the U.K. regulator and Bloomberg. Yes, that’s right. A partnership that poses a serious competitive threat to Google—whose dominance of internet search and advertising is the... You knew it was just a matter of time. Regulators in the U.K. and U.S. are looking into the...

D2iQ CEO Tobi Knaup. Photo via D2iQ.

Software Startup That Rejected Buyout From Microsoft Shuts Down, Sells Assets to Nutanix

By Cory Weinberg · Dec 8, 2023 2:36pm PST · 8 comments

Andreessen Horowitz-backed D2iQ, a cloud infrastructure startup formerly known as Mesosphere and which was once popular with software developers, is shutting down. It is the latest in a string of firms to evaporate this year after raising significant venture capital. D2iQ, which raised $250 million in venture funding, on Thursday sent... Andreessen Horowitz-backed D2iQ, a cloud infrastructure startup formerly known as Mesosphere and...

Jessica Lessin at this year's WTF: Women in Tech, Media and Finance summit. Art by Clark Miller

The Next News Disruption Has Already Begun

By Jessica E. Lessin · Dec 8, 2023 12:00pm PST · 24 comments

Jessica Lessin at this year's WTF: Women in Tech, Media and Finance summit. Art by Clark Miller

The Next News Disruption Has Already Begun

By Jessica E. Lessin · Dec 8, 2023 12:00pm PST · 24 comments

I could tell something had happened when I saw the river of notifications on my phone—WhatsApp messages, Slack messages, tweets and texts. “Can’t wait for The Information’s read on this one.” Gulp. Sam Altman had been fired as CEO of OpenAI. I spent the next two weeks with The Information team uncovering everything... I could tell something had happened when I saw the river of notifications on my...

Google Gemini Meet Crypto-Cyber-Crystals

By Jessica E. Lessin · Dec 8, 2023 11:29am PST

One of the things I enjoy most about recording More or Less every week is learning to use all the new tech creators have at their fingertips. To that end, Dave found a new feature that used AI to compile the show note summaries for this episode. I think they are pretty great. That's the beauty of AI: making... One of the things I enjoy most about recording More or Less every week is learning to use...

Sebastian Siemiatkowski, CEO of Klarna. Chris Ratcliffe/Bloomberg via Getty Images

Pro Weekly: 12 Companies That Could Go Public Next Year

By Akash Pasricha · Dec 8, 2023 8:00am PST

My colleague Cory this week previewed potential 2024 initial public offerings, highlighting the fact that many of the candidates are more than a decade old. Cory also helped us update The Information’s Tech IPO Tracker, where we’ve revised our assessments of which companies will—and won’t—make it to the public markets anytime soon.The tracker... My colleague Cory this week previewed potential 2024 initial public offerings, highlighting the...

Photo via Europa Press/AP.

China, U.S. Hurdles May Delay Shein IPO Plans

By Cory Weinberg and Ann Gehan · Dec 8, 2023 6:36am PST · 6 comments

U.S. lawmakers have Shein in their crosshairs as the China-founded fast-fashion retailer gears up for what could be an enormously valuable initial public offering. But another potential roadblock to Shein’s hopes for a U.S. listing may lie elsewhere—in China. For months, Shein has been discussing with the Chinese government whether... U.S. lawmakers have Shein in their crosshairs as the China-founded fast-fashion retailer gears up...

Rivian's R1T electric pickup. Photo: Bing Guan/Bloomberg/Getty

Exclusive from The Electric: Rivian Becomes the Latest to Lay Off Battery Workers

By Steve LeVine · Dec 7, 2023 9:22pm PST · 1 comment

Rivian's R1T electric pickup. Photo: Bing Guan/Bloomberg/Getty

Exclusive from The Electric: Rivian Becomes the Latest to Lay Off Battery Workers

By Steve LeVine · Dec 7, 2023 9:22pm PST · 1 comment

Electric vehicle manufacturer Rivian this week laid off about 20 members of its long-range battery cell development team including Victor Prajapati, the company’s lead cell engineer and a former senior manager at Tesla, according to people familiar with the matter. It is the latest in a surge of battery and electric vehicle industry cutbacks as... Electric vehicle manufacturer Rivian this week laid off about 20 members of its long-range...

Elon Musk. Photo by Michael M. Santiago/Getty Images.

Musk Escalates Attack on Disney

By Martin Peers · Dec 7, 2023 5:00pm PST · 20 comments

If Bob Iger decides to update his 2019 memoir, “Ride of a Lifetime,” with a chapter on his return to Disney a year ago, he’ll have plenty of juicy material. The executive once widely admired for his success in running the entertainment giant is now being assailed on all sides. Today, we had Elon Musk, still irritated that Disney joined other... If Bob Iger decides to update his 2019 memoir, “Ride of a Lifetime,” with a chapter on his return...

Photo by Roslan Rahman/AFP via Getty Images.

Creator Economy

TikTok ‘Swipe Out Hate’ Campaign Follows a Now Familiar Playbook

By Kaya Yurieff · Dec 7, 2023 4:03pm PST

This afternoon, we published a story about TikTok’s latest moves to address mounting criticism that antisemitism and other hate speech has proliferated in videos about the Hamas-Israel war, including an upcoming “Swipe Out Hate” campaign in its app and a new “anti-hate and discrimination” task force to tackle antisemitism and Islamophobia. ... This afternoon, we published a story about TikTok’s latest moves to address mounting criticism...

Marcie Frost, CEO of Calpers. Photo by Bloomberg via Getty Images.

Calpers’ $4.5 Billion Venture Bet

By Kate Clark · Dec 7, 2023 2:52pm PST · 2 comments

Here’s a number that might surprise you: In the first six months of the year, California Public Employees’ Retirement System committed about $4.5 billion to venture capital funds, according to public filings. That’s almost 15% of the total capital raised by U.S. VC firms in the same period, and a staggering increase over Calpers’ 2022... Here’s a number that might surprise you: In the first six months of the year, California Public...

TikTok CEO Shou Zi Chew

TikTok Plans Anti-Hate Speech Campaign After Complaints Over Israel-Hamas Videos

By Kaya Yurieff · Dec 7, 2023 12:41pm PST · 1 comment

TikTok CEO Shou Zi Chew

TikTok Plans Anti-Hate Speech Campaign After Complaints Over Israel-Hamas Videos

By Kaya Yurieff · Dec 7, 2023 12:41pm PST · 1 comment

TikTok is preparing a slew of initiatives to defuse growing complaints that antisemitism and other hate speech has proliferated in videos about the Hamas-Israel war. The ByteDance-owned app is planning a social media campaign this month called “Swipe Out Hate” that will involve creators to spread its message, according to a person... TikTok is preparing a slew of initiatives to defuse growing complaints that antisemitism and...