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

Panos Panov. Photo by Getty.

A Microsoft Devices Guru Defects to Amazon

By Nick Wingfield · Sep 18, 2023 5:03pm PDT

This is the time of year when the leaves begin to turn color, Earth, Wind and Fire blares from car stereos, and two tech companies that aspire to be players in consumer hardware—Amazon and Microsoft—show off the gadgets they want you to buy this holiday season. This year, Amazon goes first with an event on Wednesday, followed by Microsoft on... This is the time of year when the leaves begin to turn color, Earth, Wind and Fire blares from...

Meta's EMEA headquarters in Dublin. Photo by Bloomberg via Getty.

Creator Economy

What May Keep Threads From Europe Forever

By Sylvia Varnham O'Regan · Sep 18, 2023 3:12pm PDT

Here’s a question: will European users ever get to join Threads?I’ve been wondering that as I’ve reported on the response by Meta Platforms to increasing European restrictions on the personal data tech companies can share with advertisers. As I wrote Friday, the parent of Facebook and Instagram has been showing some users in Europe—and young... Here’s a question: will European users ever get to join Threads?I’ve been wondering that as I’ve...

An Albertsons grocery store in L.A. Photo by Getty.

Instacart’s Secret Deals With Grocery Giants

By Cory Weinberg · Sep 18, 2023 7:00am PDT · 8 comments

When Instacart goes public on Tuesday, at least one shareholder likely to make money is its own customer: grocery giant Albertsons, one of several retailers that quietly struck stock deals with Instacart years ago that remained a closely held secret inside the delivery company, people familiar with the matter said. The grocery company’s... When Instacart goes public on Tuesday, at least one shareholder likely to make money is its own...

OpenAI's Greg Brockman (left) and Google's Demis Hassabis (right). Photos by Getty.

OpenAI Hustles to Beat Google to Launch ‘Multimodal’ LLM

By Jon Victor · Sep 18, 2023 7:00am PDT

OpenAI's Greg Brockman (left) and Google's Demis Hassabis (right). Photos by Getty.

OpenAI Hustles to Beat Google to Launch ‘Multimodal’ LLM

By Jon Victor · Sep 18, 2023 7:00am PDT

As fall approaches, Google and OpenAI are locked in a good ol’ fashioned software race, aiming to launch the next generation of large-language models: multimodal. These models can work with images and text alike, producing code for a website just by seeing a sketch of what a user wants the site to look like, for instance, or spitting out a text... As fall approaches, Google and OpenAI are locked in a good ol’ fashioned software race, aiming to...

Art by Mike Sullivan

Disney-Charter Deal Could Prompt More Cable TV-Streaming Bundles

By Sahil Patel · Sep 18, 2023 6:00am PDT

Last week, Charter Communications, the No. 2 cable provider, and Walt Disney Co. cut a deal to include Disney streaming services, such as Disney+ and a new ESPN service still in the works, with Charter’s cable television packages. That pact could be a watershed for traditional TV gatekeepers that want a piece of the action from the... Last week, Charter Communications, the No. 2 cable provider, and Walt Disney Co. cut a deal to...

Tesla CEO Elon Musk, right, and Drew Baglino, Tesla's senior vice president of power train, on Battery Day on Sept. 22, 2020. Photo: Courtesy Tesla

The Electric: Musk Promised a $25,000 EV by This Week. Why It’s Still Urgent He Produces It

By Steve LeVine · Sep 18, 2023 4:30am PDT

Three years ago this week, Tesla CEO Elon Musk presided over a spirited outdoor event that he called “Battery Day.” For years, Musk had teased plans to eventually introduce an affordable mass-market electric vehicle, and now, speaking to a parking lot full of honking fans sitting in Teslas, he explained how he would do it. For more than two... Three years ago this week, Tesla CEO Elon Musk presided over a spirited outdoor event that he...

Flexport founder Ryan Petersen. Photos via Getty and Flexport.

Can Ryan Petersen Fix Flexport?

By Ann Gehan and Theo Wayt · Sep 17, 2023 6:00am PDT

Ryan Petersen was getting antsy. This March, Petersen had handed over the CEO job at Flexport—the logistics company he’d founded a decade earlier, which had ballooned to an $8 billion valuation in 2022—to veteran Amazon executive Dave Clark. In July, Petersen joined venture capital firm Founders Fund as a partner. But just a... Ryan Petersen was getting antsy. This March, Petersen had handed over the CEO job at...

Art by Mike Sullivan.

A Is for Adaptogens, B Is for Body Sculpting: A Trending-in-Silicon Valley Health Glossary

By Annie Goldsmith · Sep 16, 2023 6:01am PDT · 1 comment

Art by Mike Sullivan.

A Is for Adaptogens, B Is for Body Sculpting: A Trending-in-Silicon Valley Health Glossary

By Annie Goldsmith · Sep 16, 2023 6:01am PDT · 1 comment

Last month, The Information Weekend conducted our first-ever Brain-Body Investment Survey, asking subscribers about their exercise, wellness and beauty practices. The results emphasized Silicon Valley’s willingness to experiment and innovate—not just in their jobs, but on their bodies. Some of the practices respondents jotted down... Last month, The Information Weekend conducted our first-ever Brain-Body Investment Survey, asking...

Art by Clark Miller.

The Trouble With Walter: In His Elon Musk Tome, the Writer Shows Us the Perils of Access Journalism

By Adam Lashinsky · Sep 16, 2023 6:00am PDT · 75 comments

Walter Isaacson is the exotic bird of American letters, a charming and convivial bon vivant and raconteur, the life of many a dinner party, a studious biographer and a generous mentor. He blurbed both of my books, a kindness he’s bestowed on many authors, and he has been nothing but kind and gracious to me over the years. Unfortunately,... Walter Isaacson is the exotic bird of American letters, a charming and convivial bon vivant and...

Meet the Leaders of the Austin Tech Brat Pack

Meet the Leaders of the Austin Tech Brat Pack

By Jon Steinberg · Sep 16, 2023 6:00am PDT

Hi, welcome to your Weekend.It’s been another week of all-things Elon Musk, courtesy of Walter Isaacson’s book drop, an appearance in Washington for AI discussions with lawmakers and his opining on the inevitability of a future Chinese invasion of Taiwan at the All-In Summit. The illustration designer Clark Miller created for Adam Lashinsky’s... Hi, welcome to your Weekend.It’s been another week of all-things Elon Musk, courtesy of Walter...

Photo via Shutterstock

Our Favorite Stories From This Week

By Akash Pasricha · Sep 15, 2023 3:32pm PDT

Whether you’re a freight shipping fan, an IPO market aficionado, a close watcher of the crypto venture capital landscape, or if you’ve ever wondered what happened to Yahoo, there’s something for everyone in The Information’s coverage from this past week. Whether you’re a freight shipping fan, an IPO market aficionado, a close watcher of the crypto...

Tim Cook introduces Apple Card during a launch event at Apple headquarters on March 25, 2019. Photo via Getty.

Goldman Sachs Makes Adjustments to Fix Apple Savings Account Problems

By Lauren Tara LaCapra · Sep 15, 2023 2:19pm PDT

Tim Cook introduces Apple Card during a launch event at Apple headquarters on March 25, 2019. Photo via Getty.

Goldman Sachs Makes Adjustments to Fix Apple Savings Account Problems

By Lauren Tara LaCapra · Sep 15, 2023 2:19pm PDT

Goldman Sachs has made changes to how it handles Apple Savings transactions in an effort to resolve problems some customers had experienced when making withdrawals, according to people familiar with the matter. Some Apple Card customers who flocked to new Apple Savings accounts after they launched in April found it difficult or impossible to... Goldman Sachs has made changes to how it handles Apple Savings transactions in an effort to...

The Apple Episode (Carbon Neutralish)

By Jessica E. Lessin · Sep 15, 2023 12:06pm PDT · 3 comments

This week, we took advantage of Brit and Dave's deep expertise in all things Apple for a fun episode about the company's new products, the state of hardware and how Apple will fare in the AI era. I loved hearing Brit share an anecdote about Steve Jobs. You'll know why when you hear it. And, of course, we got a few good... This week, we took advantage of Brit and Dave's deep expertise in all things Apple...

The California Public Employees' Retirement System (CalPER) office in Sacramento, Calif. Photo by Getty.

Thrive to Raise $300 Million From CalPERS Amid Dry Spell for VCs

By Kate Clark · Sep 15, 2023 11:50am PDT

Thrive Capital is raising $300 million from California Public Employees' Retirement System, adding a marquee investor at a time when venture investors are finding it harder to raise money, according to a person with direct knowledge of the matter. The addition of CalPERS, which manages $463 billion, marks the pension plan’s first... Thrive Capital is raising $300 million from California Public Employees' Retirement System,...

The People in Power at Tech Private Equity Juggernaut Thoma Bravo

By Rachel Graf · Sep 15, 2023 10:30am PDT · 1 comment

Orlando Bravo may be the face of Thoma Bravo, but he’s not the only one calling the shots. The hard-charging, helicopter-riding managing partner has become the most recognizable person at the software-focused private equity firm. But he’s surrounded by a cadre of trusted executives who help oversee Thoma Bravo’s massive $131... Orlando Bravo may be the face of Thoma Bravo, but he’s not the only one calling the shots....

Gigafund co-founders Luke Nosek and Stephen Oskoui. Art by Clark Miller; Oskoui photo courtesy Gigafund.

The Elon Musk Investors With Dreams of a New Social Order

By Julia Black · Sep 15, 2023 9:31am PDT · 5 comments

Gigafund co-founders Luke Nosek and Stephen Oskoui. Art by Clark Miller; Oskoui photo courtesy Gigafund.

The Elon Musk Investors With Dreams of a New Social Order

By Julia Black · Sep 15, 2023 9:31am PDT · 5 comments

In February 2021, a Mormon film producer named Jeffrey Harmon returned home to Provo, Utah, raving about an exclusive gathering he’d just attended in Austin, Tex. He’d been invited by an old friend, Stephen Oskoui, who ran Austin-based venture capital firm Gigafund alongside Luke Nosek, a founding partner of Founders Fund and a... In February 2021, a Mormon film producer named Jeffrey Harmon returned home to Provo, Utah,...

Photo by Shutterstock

Pro Weekly: The Most Popular Clouds for Generative AI Startups

By Akash Pasricha · Sep 15, 2023 8:00am PDT

Since we last wrote in detail about our Generative AI Database, we’ve added 14 companies to our catalog, including text-to-presentation startup Tome and voice-generator startup Resemble AI. A tie binds several of these firms: Ten use Amazon as their cloud computing provider. Since we last wrote in detail about our Generative AI Database, we’ve added 14 companies to our...

Meta's EMEA headquarters in Dublin. Photo via Getty.

Meta, Under Fire From Regulators, Dials Back Ad Targeting

By Sylvia Varnham O'Regan · Sep 15, 2023 6:00am PDT

Meta Platforms built a $114 billion-a-year advertising juggernaut by tailoring ads to Facebook and Instagram users based on what they liked, posted or bought on the company’s apps. Now, under mounting pressure from regulators around the world, Meta is backing away from that approach. In the EU, users can now choose to see ads based... Meta Platforms built a $114 billion-a-year advertising juggernaut by tailoring ads to Facebook...

Photo via Getty.

The Instacart IPO Puzzle I Can’t Grok

By Jessica E. Lessin · Sep 14, 2023 5:00pm PDT · 5 comments

These days I often read things that stop me in my tracks. In challenging economic times, the ugly truth often comes out. But upon reading Cory’s excellent account of how Instacart’s former CEO clashed with Sequoia Capital this morning, one line almost made me spill my morning coffee. "Some investors close to Instacart, like Sequoia,... These days I often read things that stop me in my tracks. In challenging economic times, the ugly...

Photo by Getty

Google Nears Release of Gemini AI to Challenge OpenAI

By Jon Victor · Sep 14, 2023 4:52pm PDT · 2 comments

Photo by Getty

Google Nears Release of Gemini AI to Challenge OpenAI

By Jon Victor · Sep 14, 2023 4:52pm PDT · 2 comments

Google has given a small group of companies access to an early version of its highly anticipated conversational artificial intelligence software, according to three people with direct knowledge of the matter. Giving outside developers access to the software, known as Gemini, means Google is getting close to incorporating it in its consumer... Google has given a small group of companies access to an early version of its highly anticipated...