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

Middle East Money Is Back on the Table

Middle East Money Is Back on the Table

By Nick Wingfield · Jan 20, 2024 6:00am PST

Hi, welcome to your Weekend.When a team of assassins killed the dissident journalist Jamal Khashoggi inside the Saudi consulate in Istanbul a little over five years ago, Silicon Valley for a moment found its vertebrae. At the time, tech investors and founders were growing increasingly intoxicated by funding from Saudi sources. But those days... Hi, welcome to your Weekend.When a team of assassins killed the dissident journalist Jamal...

The Information founder and CEO Jessica Lessin (left) and attendees at the publications 10th anniversary gala. All photos by Erin Beach

Tech Founders, Investors Celebrate at The Information’s 10th Anniversary Gala

By The Information Staff · Jan 20, 2024 5:55am PST · 7 comments

Instagram co-founder Kevin Systrom, Sequoia Capital’s Roelof Botha and ThirdLove CEO Heidi Zak were among the guests who packed a restaurant in San Francisco Friday night to celebrate The Information’s 10 year anniversary. Party goers traded in their hoodies for black ties and gowns at the gala, held at Foreign Cinema restaurant in... Instagram co-founder Kevin Systrom, Sequoia Capital’s Roelof Botha and ThirdLove CEO Heidi...

Photo via Shutterstock

What to Expect From Tech Earnings Season

By Martin Peers · Jan 19, 2024 3:05pm PST

Earnings season is back! Netflix kicks off the tech sector’s round of December-quarter reports on Tuesday, followed the week after by Alphabet, Microsoft, Apple, Meta Platforms and others. This promises to be an unremarkable quarter, with big companies’ growth rates largely unchanged from the third quarter. That’s not as true for Netflix, which... Earnings season is back! Netflix kicks off the tech sector’s round of December-quarter reports on...

Flexport CEO Ryan Petersen. Photo by Getty

Struggling Logistics Firm Flexport Raises $260 Million from Shopify

By Theo Wayt · Jan 19, 2024 2:11pm PST · 3 comments

Flexport CEO Ryan Petersen. Photo by Getty

Struggling Logistics Firm Flexport Raises $260 Million from Shopify

By Theo Wayt · Jan 19, 2024 2:11pm PST · 3 comments

Flexport is raising $260 million from e-commerce software giant Shopify, one of its biggest shareholders, according to two people with direct knowledge, giving the struggling logistics startup more breathing room after it burned through cash last year. Shopify will get notes that are convertible into Flexport equity in exchange for the money.... Flexport is raising $260 million from e-commerce software giant Shopify, one of its biggest...

Art by Clark Miller

Where Tech Leaders Network, Stay and Eat When Fundraising in the Middle East

By Margaux MacColl · Jan 19, 2024 1:31pm PST · 4 comments

So you’ve decided to hop on an Emirates or Etihad flight to the Middle East for the first time to get sovereign wealth fund managers and family offices interested in your venture fund or startup. When do you go to maximize your networking? Where do you stay? And where do you talk business over a delicious kebab platter and a hookah? We... So you’ve decided to hop on an Emirates or Etihad flight to the Middle East for the first...

Photo by Leon Neal/Getty Images.

Citi in Talks With Analytics Startup to Expand Lending

By Michael Roddan · Jan 19, 2024 1:04pm PST · 3 comments

Citigroup is in discussions with cash flow analytics startup Prism Data about incorporating the firm’s technology in its consumer credit underwriting, according to people close to the discussions between the two firms. A Citi deal with Prism would be a boost for the startup. Spun off from Peter Thiel–backed credit card fintech firm... Citigroup is in discussions with cash flow analytics startup Prism Data about incorporating the...

The Apple Vision Pro. Photo via Getty Images.

Pro Weekly: Developers Eagerly Await the Vision Pro

By Akash Pasricha · Jan 19, 2024 8:01am PST

In our most recent subscriber survey, more than 40% of respondents said they are somewhat likely or extremely likely to consider buying the Apple Vision Pro, for which Apple is accepting pre-orders starting today. Among those most eagerly awaiting the Vision Pro are developers building apps for the mixed-reality device. Michael Markman, a... In our most recent subscriber survey, more than 40% of respondents said they are somewhat likely...

Art by Clark Miller

How Silicon Valley Learned to Stop Worrying and Love Middle East Money Again

By Margaux MacColl and Natasha Mascarenhas · Jan 19, 2024 6:00am PST · 1 comment

Art by Clark Miller

How Silicon Valley Learned to Stop Worrying and Love Middle East Money Again

By Margaux MacColl and Natasha Mascarenhas · Jan 19, 2024 6:00am PST · 1 comment

How do you know when a venture capitalist or founder is in Saudi Arabia looking to get a piece of the country’s piles of petro cash for their latest funds or startups? A telltale sign is the procession of Mercedes-Benz cars and SUVs weaving through the streets of Riyadh from the city’s Four Seasons Hotel to grand royal meeting rooms... How do you know when a venture capitalist or founder is in Saudi Arabia looking to get a piece of...

Google CEO Sundar Pichai. Photo by Anna Moneymaker/Getty Images.

Why Tech’s Latest Job Cut Wave Feels Different

By Jessica E. Lessin · Jan 18, 2024 5:00pm PST · 3 comments

When a year or so ago tech companies including Amazon, Meta Platforms and Google announced broad layoffs—in some cases for the first time in their history—tech workers were on edge.But as 2023 wore on, there was a little sense of relief. It started to feel like the post-pandemic themes of “rightsizing” and “removing layers of management” that... When a year or so ago tech companies including Amazon, Meta Platforms and Google announced broad...

Art by Mike Sullivan

Apple Plans iPhone Camera Button as Creators Shift to Horizontal Videos

By Wayne Ma · Jan 18, 2024 4:51pm PST · 3 comments

Apple is testing a new button on prototypes of the iPhone 16 to help people quickly take videos and photos when they hold the device horizontally, according to two people with direct knowledge of the situation. Apple has envisioned the new camera button as a key selling point for the device, these people said. The iPhone 16 is due out in the... Apple is testing a new button on prototypes of the iPhone 16 to help people quickly take videos...

Photo via YouTube/UA Delta Gamma Sorority

Creator Economy

The Home of #RushTok Launches its First Course for Creators

By Kalley Huang · Jan 18, 2024 2:41pm PST

More than four years ago, Jess Maddox, an assistant professor of digital media at the University of Alabama, pitched a course to teach students how to create content. Her department wasn’t interested. This spring semester, she started teaching a course about just that.“It was important for me to build and advocate for a class like this because... More than four years ago, Jess Maddox, an assistant professor of digital media at the University...

Photo via Shutterstock

So Long, Unicorns. Hello, ZIRPicorns?

By Kate Clark · Jan 18, 2024 12:56pm PST

Photo via Shutterstock

So Long, Unicorns. Hello, ZIRPicorns?

By Kate Clark · Jan 18, 2024 12:56pm PST

Aileen Lee, co-founder of seed venture capital firm Cowboy Ventures, famously coined the term “unicorn” to describe tech companies with billion-dollar valuations back in 2013. Now she’s using “ZIRPicorns” to describe the hundreds of startups that haven’t raised money since the zero-interest rate period and whose valuations are likely wildly off... Aileen Lee, co-founder of seed venture capital firm Cowboy Ventures, famously coined the term “...

Google Cloud Narrows Gap With AWS in Revenue per Employee

By Anissa Gardizy · Jan 18, 2024 12:12pm PST · 2 comments

As a pioneer in renting out cloud servers, Amazon Web Services has long generated far more revenue and profits than its rivals. But one rival, Google Cloud, has made up a lot of ground on AWS when it comes to a key measure of efficiency—revenue per employee. In the first three quarters of 2023, AWS generated around $580,000 per employee... As a pioneer in renting out cloud servers, Amazon Web Services has long generated far more...

Subscriber Survey

The Information Readers Show Strong Interest in Apple’s Vision Pro

By Akash Pasricha · Jan 18, 2024 9:00am PST · 1 comment

Apple’s Vision Pro mixed-reality headset looks like it’s headed for a strong debut next month—at least among readers of The Information. More than 40% of respondents to our most recent survey said they are somewhat likely or very likely to consider buying the augmented reality and virtual reality device. The survey also found... Apple’s Vision Pro mixed-reality headset looks like it’s headed for a strong debut...

Photo via Unsplash/DeepMind.

Could State Space Models Kill Large Language Models?

By Stephanie Palazzolo · Jan 18, 2024 7:10am PST

The time it takes for a new technology to replace (or try to replace) an incumbent has consistently gotten shorter over time (just take a look at how long it took Google Docs to overthrow Microsoft Word versus the flurry of 15-minute grocery delivery startups that popped up following the success of companies like Instacart). That’s why nobody... The time it takes for a new technology to replace (or try to replace) an incumbent has...

The People With Power at MongoDB

By Akash Pasricha · Jan 18, 2024 6:00am PST

The People With Power at MongoDB

By Akash Pasricha · Jan 18, 2024 6:00am PST

If you had invested $1,000 in MongoDB’s 2017 initial public offering, you’d be sitting on more than $16,800 today. That far outpaces the returns over the same period of each of the five most valuable pure-play software as a service firms—Adobe, Salesforce, ServiceNow, Shopify and Workday. It also beats the returns over that... If you had invested $1,000 in MongoDB’s 2017 initial public offering, you’d be...

Group14 Technologies CTO Rick Costantino, left, and CEO Rick Luebbe in the company’s factory in Woodinville, Wash. Photo: Courtesy Group14

The Electric: Silicon Anodes and an Emerging U.S. Hub for Next-Gen Batteries

By Steve LeVine · Jan 18, 2024 4:30am PST · 1 comment

A third U.S. silicon anode maker says it is building a battery materials plant at Moses Lake, Wash., which is fast becoming a major hub for the production of next-generation silicon anodes. California-based OneD Battery Sciences said Wednesday that by the middle of 2027 it will begin manufacturing enough silicon-based anodes to equip 500,000... A third U.S. silicon anode maker says it is building a battery materials plant at Moses Lake,...

Google CEO Sundar Pichai. Photo via Getty

Google CEO: Job Cuts Will Continue Through 2024

By Jon Victor · Jan 17, 2024 6:28pm PST

Google CEO Sundar Pichai on Wednesday acknowledged the company’s recent wave of layoffs for the first time, warning staff in an email that cuts would continue throughout the year, according to a person with direct knowledge of the email. Google in the past week laid off more than 1,000 people across teams including hardware, ad sales and... Google CEO Sundar Pichai on Wednesday acknowledged the company’s recent wave of layoffs for...

Photo via Adobe Stock.

So Far 2024 Isn’t Apple’s Year—Will That Change?

By Martin Peers · Jan 17, 2024 5:00pm PST · 1 comment

The year is still young, but so far it hasn’t been auspicious for Apple. A federal court today ruled against the iPhone maker on its latest appeal regarding a blood oxygen monitoring feature in the Apple Watch, almost certainly meaning Apple will disable the feature on the device while it pursues further appeals. Meanwhile, on Tuesday the U.S.... The year is still young, but so far it hasn’t been auspicious for Apple. A federal court today...

Sofia Richie Grainge. Photo by AP.

TikTok’s Beauty Craze Turns to M&A

By Ann Gehan · Jan 17, 2024 2:31pm PST

Sofia Richie Grainge. Photo by AP.

Creator Economy

TikTok’s Beauty Craze Turns to M&A

By Ann Gehan · Jan 17, 2024 2:31pm PST

Hi - it's Ann. I write about e-commerce and retail for The Information. Before we get into today's column, some breaking news: YouTube is laying off around 100 employees focused on supporting content creators and other partners. The layoffs come amid a reorganization of many of YouTube’s business teams and broader cuts this month at YouTube’s... Hi - it's Ann. I write about e-commerce and retail for The Information. Before we get into...