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

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Recent Editions

Apple's John Giannandrea. Photo by Getty

Apple’s AI Chief Struggles With Turf Wars as New Era Begins

By Wayne Ma · Apr 27, 2023 6:00am PDT · 3 comments

Late last year, a trio of engineers who had just helped Apple modernize its search technology began working on the type of technology underlying ChatGPT, the chatbot from OpenAI that has captivated the public since it launched last November. For Apple, there was only one problem: The engineers no longer worked there. They had left the company to... Late last year, a trio of engineers who had just helped Apple modernize its search technology...

The 2017 debut Chevy Bolt at the Brussels Expo. In Europe, the EV is called the Opel Ampera. Photo: Sjoerd van der Wal/Getty

The Electric: GM’s Baffling Decision to Kill the Magnificently Priced Bolt EV

By Steve LeVine · Apr 27, 2023 4:30am PDT · 2 comments

General Motors’ decision this week to kill the electric Chevy Bolt brings to a close a turbulent chapter in the company’s foray into electric vehicles, including one of the past decade’s biggest battery scandals and a fire hazard that forced the recall of the entire Bolt fleet. It’s a mystifying decision—and a big mistake. General Motors’ decision this week to kill the electric Chevy Bolt brings to a close a turbulent...

Photo via Shutterstock.

Meta’s Quarter Offers Signs of Hope on Ads

By Martin Peers · Apr 26, 2023 5:00pm PDT

In tech, three is the new 30. Meta Platforms on Wednesday reported a 3% lift in revenue for the first quarter, the same revenue increase Alphabet reported for its first quarter on Tuesday. Increasing the top line by 3% is a far cry from the 25% to 30% quarterly growth Facebook’s owner once reported with monotonous regularity. But it’s a big... In tech, three is the new 30. Meta Platforms on Wednesday reported a 3% lift in revenue for the...

Photo via Shutterstock

Instagram Reshuffles Internal Teams; Meta’s Ad Business Recovers

By Kaya Yurieff · Apr 26, 2023 3:36pm PDT

Photo via Shutterstock

Creator Economy

Instagram Reshuffles Internal Teams; Meta’s Ad Business Recovers

By Kaya Yurieff · Apr 26, 2023 3:36pm PDT

Before we get into Meta Platforms’ first quarter earnings report, we have some new details about internal changes happening at Instagram as a result of Meta’s latest job cuts. Instagram chief Adam Mosseri, in a note to Instagram employees last week, said the app needs a “flatter structure that gives everyone the opportunity to meaningfully... Before we get into Meta Platforms’ first quarter earnings report, we have some new details about...

Photo by Bloomberg.

First Republic Panic Ensnares SVB Refugees

By Michael Roddan and Cory Weinberg · Apr 26, 2023 1:48pm PDT · 1 comment

A little over two weeks ago, before First Republic Bank revealed on Monday that depositors had yanked more than $100 billion from the bank, Brian Mac Mahon, the founder of Santa Monica, Calif., early-stage startup accelerator Expert Dojo, made an unusual call—to deposit his company’s funds into the stressed Californian lender. Having... A little over two weeks ago, before First Republic Bank revealed on Monday that depositors had...

Discord CEO Jason Citron. Photo by Getty.

Discord’s Revenue Growth Slows to 44% in 2022

By Mark Matousek · Apr 26, 2023 11:53am PDT · 5 comments

Many tech firms saw meager revenue growth, or even a decline, last year as the digital ad market stalled and businesses cut back spending on software. Messaging startup Discord was an exception. Discord, which makes money from subscription fees, lifted revenue 44% to $445 million last year, according to an internal presentation viewed by The... Many tech firms saw meager revenue growth, or even a decline, last year as the digital ad market...

Photos by Bloomberg

Coinbase, Gemini Can’t Resist Overseas Derivatives

By Akash Pasricha · Apr 26, 2023 9:04am PDT

Crypto exchanges based in the U.S. are wading further into overseas markets. Late last week, Winklevoss-founded exchange Gemini said it will soon launch a crypto derivatives trading platform outside the U.S. called Gemini Foundation, confirming our scoop from last month. The first product it will sell—a perpetual futures contract—is a crypto fan... Crypto exchanges based in the U.S. are wading further into overseas markets. Late last week,...

Alphabet CEO Sundar Pichai. Photo via Getty

In Google Founder’s Shadow, CEO Pichai Discovered the Limits of His Power

By Jon Victor and Amir Efrati · Apr 26, 2023 6:00am PDT · 11 comments

Alphabet CEO Sundar Pichai. Photo via Getty

In Google Founder’s Shadow, CEO Pichai Discovered the Limits of His Power

By Jon Victor and Amir Efrati · Apr 26, 2023 6:00am PDT · 11 comments

Since Sundar Pichai became CEO of Google’s parent company, Alphabet, in 2019, he has been honest with colleagues about the difficulties of overseeing a sprawling conglomerate that’s under constant strain from internal power struggles, regulators and rebellious employees. In one example of that candor, he said in an internal meeting... Since Sundar Pichai became CEO of Google’s parent company, Alphabet, in 2019, he has been...

Photos by Shutterstock.

Microsoft Outperforms Google in Q1

By Martin Peers · Apr 25, 2023 5:00pm PDT

Score one for Microsoft. At 48 years of age, the software giant may be old by tech standards, but it’s performing better than younger rival Alphabet, as their March quarter numbers showed today. Both companies posted better results than they had for the December quarter, although that’s a low bar, given that neither showed much growth at all... Score one for Microsoft. At 48 years of age, the software giant may be old by tech standards, but...

Photo by Shutterstock

Creator Economy

Downbeat YouTube, Upbeat Spotify

By Isabelle Sarraf · Apr 25, 2023 3:49pm PDT · 1 comment

Anyone looking for relief from the pall hanging over the advertising business didn’t find it in YouTube results Tuesday. The Alphabet-owned video sharing site, something of a bellwether for the creator economy, said YouTube’s ad revenue fell 2.6% to $6.7 billion during the first quarter compared with the same period a year ago. That was the... Anyone looking for relief from the pall hanging over the advertising business didn’t find it in ...

Meta's headquarters in Menlo Park, Calif. Photo by Getty.

Meta to Bring In Microsoft Exec to Lead Chips Effort as It Evaluates Strategy

By Sylvia Varnham O'Regan · Apr 25, 2023 11:25am PDT

Meta Platforms has hired a chip executive from Microsoft to oversee its work developing custom chips for hardware devices, according to two people familiar with the matter. The hire comes as Meta is evaluating the company’s silicon strategy, a move that could spell more layoffs. Jean Boufarhat, who currently serves as corporate vice... Meta Platforms has hired a chip executive from Microsoft to oversee its work developing...

Andy Jassy, CEO of Amazon. Photo by Bloomberg.

Amazon CEO Andy Jassy Picks Fulfillment Veteran as New ‘Shadow Adviser’

By Theo Wayt · Apr 25, 2023 10:25am PDT

Andy Jassy, CEO of Amazon. Photo by Bloomberg.

Amazon CEO Andy Jassy Picks Fulfillment Veteran as New ‘Shadow Adviser’

By Theo Wayt · Apr 25, 2023 10:25am PDT

Amazon CEO Andy Jassy has picked Eric Rimling, a 14-year veteran of the company’s fulfillment operation, as his new technical adviser, according to two people with knowledge of the appointment. The highly coveted position, which involves working directly with the CEO on a daily basis, has been a fast track to promotions for Amazon staffers... Amazon CEO Andy Jassy has picked Eric Rimling, a 14-year veteran of the company’s...

Art by Clark Miller, Shutterstock (2).

The Case for Big Action to Regulate Artificial Intelligence

By Chamath Palihapitiya · Apr 25, 2023 9:00am PDT · 7 comments

In technology circles, people balk at the mere mention of government regulation. The naysayers argue it interferes with innovation and is a bad byproduct of big government. But history tells a different story. Transparent, accountable and expert oversight—even when implemented late or ineffectively at first—has proven to be an... In technology circles, people balk at the mere mention of government regulation. The naysayers...

Chart by Shane Burke.

Why Tech Rally Left Behind Some Companies, Including Bill.com and Allbirds

By Akash Pasricha and Ann Gehan · Apr 25, 2023 6:00am PDT · 2 comments

It can be a brutal reality for investors: No matter how much a stock has fallen, it can still fall further. Take digital media firm BuzzFeed, which dropped 87% in 2022 and another 14% so far this year. Or electric truck maker Rivian, which plunged 82% last year and so far this year is down 33%. Both stocks are among a group of tech stocks that... It can be a brutal reality for investors: No matter how much a stock has fallen, it can still...

NYSE. Photo by Bloomberg.

Five Big Tech Companies Report Earnings This Week—Here’s What to Watch

By Martin Peers · Apr 24, 2023 5:00pm PDT

Prepare yourselves. This week we’re going to hear lots of variations on the terms “headwinds” and “challenges” and “execution.” We’ve got March-quarter earnings coming from most of tech’s big names, and the picture isn’t expected to be pretty. Microsoft, Alphabet, Amazon, Meta Platforms and Snap report between Tuesday and Thursday. You can see... Prepare yourselves. This week we’re going to hear lots of variations on the terms “headwinds” and...

Hank Green. Photo by Erin Beach

Why Hank Green Won’t Lobby for TikTok

By Kaya Yurieff · Apr 24, 2023 2:28pm PDT · 1 comment

Hank Green. Photo by Erin Beach

Creator Economy

Why Hank Green Won’t Lobby for TikTok

By Kaya Yurieff · Apr 24, 2023 2:28pm PDT · 1 comment

I’m still buzzing with excitement from our Creator Economy Summit last week in Los Angeles.One of my favorite conversations of the day was with Hank Green, a longtime YouTube creator who also has 7.5 million followers on TikTok. We covered a lot of ground, from Montana’s threatened TikTok ban to Twitter checkmarks to an argument with his... I’m still buzzing with excitement from our Creator Economy Summit last week in Los Angeles.One of...

How ChatGPT is Roiling 13 Software Companies

By Kevin McLaughlin, Aaron Holmes and Anissa Gardizy · Apr 24, 2023 6:00am PDT · 7 comments

Big software companies including Microsoft and Salesforce are racing to incorporate the technology behind ChatGPT, known as generative artificial intelligence, into their products to attract new users and boost profits. But the rapidly advancing technology threatens other companies that have spent years crafting software to automate tasks or to... Big software companies including Microsoft and Salesforce are racing to incorporate the...

The next big thing in batteries is to replace workhorse Airbus A320s and Boeing 737s with 100-seat, 700-mile electric planes. Photo: Krisztian Bocsi/Bloomberg/Getty

The Electric: Signs of Progress Toward Electric Airliners

By Steve LeVine · Apr 24, 2023 4:30am PDT

In 2011, the U.S. Energy Department, building on advances in battery technology over the prior three decades, devised a road map for the development of cheap and powerful lithium-ion batteries that would make electric vehicles competitive with combustion ones. It set specific, super-stretch goals for cost and capacity. The resulting batteries... In 2011, the U.S. Energy Department, building on advances in battery technology over the prior...

Partner Content

Event Recap: What’s Next for the Startup Economy

By The Information Partnerships · Apr 23, 2023 5:54pm PDT

On March 10, many Silicon Valley startups and investors woke up to the terrifying news that Silicon Valley Bank had collapsed. Now that the Federal Deposit Insurance Corp. has stepped in, the panic has subsided and the dust has settled, startups still face an uncertain banking environment. Kate Clark, senior reporter for The Information, spoke... On March 10, many Silicon Valley startups and investors woke up to the terrifying news that...

Thomas Kurian, Google Cloud CEO. Photo by Bloomberg.

Google’s Cloud Unit Gains Key AI Chip Team to Compete With Microsoft

By Anissa Gardizy and Amir Efrati · Apr 23, 2023 7:00am PDT · 1 comment

Thomas Kurian, Google Cloud CEO. Photo by Bloomberg.

Google’s Cloud Unit Gains Key AI Chip Team to Compete With Microsoft

By Anissa Gardizy and Amir Efrati · Apr 23, 2023 7:00am PDT · 1 comment

Google has moved the engineering team responsible for making artificial intelligence chips into Google Cloud, a spokesperson confirmed, in a step that could make the cloud unit more competitive with its bigger rivals, Microsoft and Amazon Web Services, in selling AI-powered software to businesses. The move is the latest sign of how Google is... Google has moved the engineering team responsible for making artificial intelligence chips into...