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 Clark Miller

A Womenswear Guide For Sun Valley and Other Networking Events This Summer

By Antonina Jedrzejczak · May 25, 2024 6:45am PDT · 3 comments

From the U.S. Open to Art Basel, to the conclaves of Sun Valley and Cannes, the summer months are rife with networking opportunities. They’re also hot, sticky and known for air conditioning set to full blast. Throw in frequent travel and the sheer range of dress codes, and the question of what to wear can become tricky at best. The answer?... From the U.S. Open to Art Basel, to the conclaves of Sun Valley and Cannes, the summer months are...

Left to right: Shaquille O'Neal, Ernie Johnson, Kenny Smith, and Charles Barkley. Photo by Michael Loccisano/Getty Images.

Warner’s NBA Relationship Fades Away

By Akash Pasricha · May 24, 2024 3:00pm PDT

Microsoft’s Satya Nadella and Nvidia’s Jensen Huang made plenty of news this week. But what about Charles Barkley? The legendary NBA-player-turned-broadcaster’s remarks on a podcast yesterday seemed to suggest that TNT’s hit halftime and postgame show “Inside The NBA” could be nearing its end if the network’s parent company, Warner Bros.... Microsoft’s Satya Nadella and Nvidia’s Jensen Huang made plenty of news this week. But what about...

Move Fast (But Don’t) Break Silicon Valley

By Jessica Lessin · May 24, 2024 9:31am PDT

So much news. So much weird. This week, on More or Less, we discussed the latest on OpenAI and ScarJo, Humane's fire sale, Slack's poor AI judgment and more. Plus, a preview of what we're all looking forward to this summer. Hope you enjoy, and have a great Memorial Day weekend! Apple Spotify So much news. So much weird. This week, on More or Less, we discussed the latest on OpenAI...

Pro Weekly: A Puzzle in Our Survey Results

Pro Weekly: A Puzzle in Our Survey Results

By Akash Pasricha · May 24, 2024 8:00am PDT

Pro Weekly: A Puzzle in Our Survey Results

Pro Weekly: A Puzzle in Our Survey Results

By Akash Pasricha · May 24, 2024 8:00am PDT

The responses to our latest monthly survey posed a puzzle: Readers were far more optimistic than last month about the tech sector overall, but they were more pessimistic about nine of the 14 big tech companies we asked about.Let’s go through the numbers. More than 51% of the 1,756 readers who took our survey earlier this month feel conditions... The responses to our latest monthly survey posed a puzzle: Readers were far more optimistic than...

Art by Clark Miller

Where Techies Should Go to Disconnect in Summer 2024

By Todd Plummer · May 24, 2024 8:00am PDT · 3 comments

The world has changed a lot in the last four years, and for better or for worse, that has greatly impacted our travel plans. For several summers since 2020, we found our vacations foiled—whether it was travel restrictions, the closures of our favorite hotels, or, ultimately, catching up on a never-ending backlog of weddings and other... The world has changed a lot in the last four years, and for better or for worse, that has greatly...

Tempus AI founder Eric Lefkofsky. Photo by Bloomberg via Getty Images.

Tempus AI Shows IPOs Are Finally Getting Weird Again

By Cory Weinberg · May 24, 2024 6:00am PDT

The handful of tech companies that have taken the leap into the public markets over the past nine months have been sure to show investors heavy profits (Instacart and Arm), fast growth (Rubrik, Ibotta and Klaviyo) or a clear story about how they’re benefitting from artificial intelligence (Astera Labs and Reddit). Tempus AI, a healthcare... The handful of tech companies that have taken the leap into the public markets over the past nine...

Taylor Swift performs in Paris on May 12. Photo by Kevin Mazur/TAS24/Getty Images.

Taylor Swift the Trust Buster

By Nick Wingfield · May 23, 2024 5:00pm PDT · 1 comment

Taylor Swift’s blockbuster Eras Tour united music fans, and now her fury towards Ticketmaster has resulted in an antitrust lawsuit against the ticketing giant that seems to have united people across the ideological spectrum. The U.S. Department of Justice and state and district attorneys general today filed a lawsuit against Ticketmaster and its... Taylor Swift’s blockbuster Eras Tour united music fans, and now her fury towards Ticketmaster has...

Photo by Calm.

Calm Lures Strategic Partners With Cheap Stock

By Abubakar Idris · May 23, 2024 4:38pm PDT

Photo by Calm.

Calm Lures Strategic Partners With Cheap Stock

By Abubakar Idris · May 23, 2024 4:38pm PDT

Consumer startups aren’t getting a lot of attention from venture capitalists these days, except if they’re powered by artificial intelligence. (More on that later.) That disinterest has made it particularly challenging for VC-backed startups wrestling with a slowdown in consumer demand after a spike during the pandemic. One path forward:... Consumer startups aren’t getting a lot of attention from venture capitalists these days, except...

Photo by Getty

Meta Is Working on a Paid Version of Its AI Assistant

By Kalley Huang · May 23, 2024 3:59pm PDT · 1 comment

Meta Platforms is considering charging users for a more advanced version of its artificial intelligence-powered assistant, called Meta AI, according to an internal post reviewed by The Information. Google, Microsoft, OpenAI and Anthropic each offer $20-per-month subscriptions to their chatbots. The subscriptions let people use those... Meta Platforms is considering charging users for a more advanced version of its artificial...

Photo by Murat Kocabas via Getty Images.

Creator Economy

Threads’ Awkward Teenage Years

By Sylvia Varnham O'Regan · May 23, 2024 2:30pm PDT

On July 5, it will be one year since the launch of Threads, Instagram’s rival to Twitter.Though the app was big news when it launched—the timeline for its release was accelerated to make the most of the chaos engulfing Twitter—chatter about the app has been relatively quiet since then.That’s in part because generative artificial intelligence... On July 5, it will be one year since the launch of Threads, Instagram’s rival to Twitter.Though...

Chart by Shane Burke.

Subscriber Survey

EVs, Especially Teslas, Are Popular With The Information Readers

By Akash Pasricha · May 23, 2024 10:00am PDT

Sales of electric vehicles are slowing and some automakers are rethinking their plans for EVs. But readers of The Information remain enthusiastic about EVs. Nearly two-thirds of respondents to our most recent survey said they own an EV, with Teslas by far the most popular choice. By comparison, a March Gallup survey found that 7% of... Sales of electric vehicles are slowing and some automakers are rethinking their plans for EVs....

Jensen Huang, left, and Colette Kress. Photos by Getty; X/J.P. Morgan.

Ten Gifts Nvidia Gave Its Investors

By Amir Efrati and Anita Ramaswamy · May 23, 2024 9:21am PDT · 1 comment

Jensen Huang, left, and Colette Kress. Photos by Getty; X/J.P. Morgan.

Ten Gifts Nvidia Gave Its Investors

By Amir Efrati and Anita Ramaswamy · May 23, 2024 9:21am PDT · 1 comment

How good was Nvidia's quarterly earnings call? Let us count the ways. Everyone is buzzing about Nvidia’s revenue nearly quadrupling to $26 billion in the quarter ended in April, mostly from the sale of artificial intelligence server chips. But Nvidia immediately shared three other pieces of good news: a strong sales forecast, a 10-to-1... How good was Nvidia's quarterly earnings call? Let us count the ways. Everyone is buzzing...

Art by Clark Miller

25 Great Books for Summer 2024

By Abram Brown · May 23, 2024 8:00am PDT · 2 comments

During a pivotal scene of “Very Bad Company,” a new satirical novel involving a tech billionaire, a dead body and many bruised egos, a startup’s executives dine at Carbone in Miami, where they receive important news calligraphed inside folded origami animals that cost $5,000 each. I half-expected to find one waiting for me as I... During a pivotal scene of “Very Bad Company,” a new satirical novel involving a tech...

Art by Mike Sullivan/Midjourney

More Startups Seek Buyers But Price is a Problem; Nvidia’s Eternal Sunshine

By Amir Efrati · May 23, 2024 7:00am PDT · 1 comment

Conversational artificial intelligence startups are singing the acquisition blues. As Natasha and I reported on Wednesday, Adept, which raised more than $400 million from investors at a $1 billion-plus valuation to develop artificial intelligence agents, has been exploring a buyout, including from Meta Platforms. A Meta deal is unlikely, though.... Conversational artificial intelligence startups are singing the acquisition blues. As Natasha and...

Photo via AP.

How Coinbase Is Poised For a Win From Ether ETFs

By Yueqi Yang · May 23, 2024 6:26am PDT

Crypto exchange Coinbase is poised for a big boost as the U.S. suddenly looks more likely to approve exchange-traded funds holding ether, giving investors a way to trade the second most popular cryptocurrency as easily as a stock. At least six out of the nine investment firms that plan to issue ether ETFs have picked Coinbase as a custodian,... Crypto exchange Coinbase is poised for a big boost as the U.S. suddenly looks more likely to...

CATL's lithium-iron-phosphate Shenxing battery. Photo: Zhou Chengfeng/VCG/Getty

The Electric: China’s Iron-Based Batteries Are Even Cheaper Than We Thought

By Steve LeVine · May 23, 2024 4:30am PDT · 1 comment

CATL's lithium-iron-phosphate Shenxing battery. Photo: Zhou Chengfeng/VCG/Getty

The Electric: China’s Iron-Based Batteries Are Even Cheaper Than We Thought

By Steve LeVine · May 23, 2024 4:30am PDT · 1 comment

On Monday, we reported that the going rate for iron-based batteries in China had plunged to an astonishing $56 per kilowatt hour, 40% below last year’s average outside the country. But we have since learned that the average price is even lower—$47/kWh, half as much as such batteries outside China, according to a survey last month by... On Monday, we reported that the going rate for iron-based batteries in China had plunged to an...

David Luan, co-founder and CEO of Adept. Photo via YouTube/General Catalyst.

AI ‘Agent’ Startup Adept Has Talked to Potential Buyers, Including Meta

By Amir Efrati and Natasha Mascarenhas · May 22, 2024 6:45pm PDT · 1 comment

The leaders of Adept, a 2-year-old artificial intelligence startup run by former OpenAI and Google AI developers, held talks in recent months about a possible sale or strategic partnership with large tech companies, according to a person with direct knowledge of the conversations. One company Adept spoke to was Facebook owner Meta... The leaders of Adept, a 2-year-old artificial intelligence startup run by former OpenAI and...

Nvidia CEO Jensen Huang during the Nvidia GPU Technology Conference in San Jose, Calif., this March. Photo by Bloomberg via Getty Images.

Nvidia Answers Prayers Again

By Cory Weinberg · May 22, 2024 5:00pm PDT · 1 comment

Nvidia, a $2 trillion chip giant worshipped by financial markets and Silicon Valley, has to pass an increasingly difficult test of investors’ faith every quarter. On Wednesday, it gave everyone in the church of artificial intelligence a reason to keep believing.The company’s revenue nearly quadrupled from the first quarter last year to $26... Nvidia, a $2 trillion chip giant worshipped by financial markets and Silicon Valley, has to...

Photo by Damian Dovarganes via AP Images.

Creator Economy

TikTok Preps a Fresh Assault on Europe

By Kaya Yurieff · May 22, 2024 2:00pm PDT

These are turbulent times for TikTok employees. On Tuesday, we reported that TikTok is planning significant layoffs—including a large percentage of the roughly 1,000 people working in TikTok’s global user operations, content and marketing teams. The planned cuts are likely to further sap employee morale, already frayed by the possibility of a... These are turbulent times for TikTok employees. On Tuesday, we reported that TikTok is planning...

Jonathan Ross, CEO & Founder, Groq. Screenshot via YouTube

Nvidia Challenger Groq Enlists Morgan Stanley to Raise $300 Million

By Natasha Mascarenhas and Cory Weinberg · May 22, 2024 10:51am PDT · 4 comments

Jonathan Ross, CEO & Founder, Groq. Screenshot via YouTube

Nvidia Challenger Groq Enlists Morgan Stanley to Raise $300 Million

By Natasha Mascarenhas and Cory Weinberg · May 22, 2024 10:51am PDT · 4 comments

Groq, an Nvidia rival that develops specialized server chips and software for artificial intelligence, has told investors it wants to raise about $300 million, according to two people who spoke to the company’s leaders. It has tapped Morgan Stanley to help with the fundraising, according to one of the people and a third person. The new... Groq, an Nvidia rival that develops specialized server chips and software for artificial...