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

Gina Moon, Tia Sherringham and Flavia Naves. Photos by Santa Clara University, Doordash and Circle Financial.

Pro Weekly: Meet the Female GCs. How Do They Climb Higher?

By Jessica E. Lessin · Apr 14, 2023 8:00am PDT

Welcome back!Every time The Information publishes another great org chart, I scan the names listed in the C-suite and see what trends pop out at me. And lately there’s one that’s pretty clear: There are a relatively large number of female general counsels and chief legal officers in the world of tech. I counted 10 females and 22 males among... Welcome back!Every time The Information publishes another great org chart, I scan the names...

Photo by Bloomberg.

Palo Alto Networks Woos Customers With Years of Free Software as Cloud Security Sales Slow

By Aaron Holmes · Apr 14, 2023 6:00am PDT · 1 comment

The slowdown in enterprise software spending is forcing some software firms to go to extraordinary lengths to win business. Palo Alto Networks, for instance, is giving away cloud security service—literally. The company, which is the biggest stand-alone security software firm measured by market capitalization, is offering its cloud security... The slowdown in enterprise software spending is forcing some software firms to go to...

Andy Jassy. Photo by Getty.

Amazon’s Andy Jassy Needs a Raise

By Martin Peers · Apr 13, 2023 5:00pm PDT · 4 comments

Andy Jassy needs a raise. Amazon's annual disclosure of its top executives' compensation, released today, portrays a CEO who is woefully underpaid given the immensity of the job he has. The company's stock-heavy executive compensation packages are laudable in how they align the interests of executives and shareholders. But shareholders also need... Andy Jassy needs a raise. Amazon's annual disclosure of its top executives' compensation,...

Chart by Shane Burke

Creator Database Tops 350 While Deals Slow to a Trickle

By Isabelle Sarraf · Apr 13, 2023 3:50pm PDT

Chart by Shane Burke

Creator Economy

Creator Database Tops 350 While Deals Slow to a Trickle

By Isabelle Sarraf · Apr 13, 2023 3:50pm PDT

Our latest update to the Creator Economy Database shows signs of life in the industry despite doom-and-gloom fundraising totals. We tallied 15 U.S.-based creator startups that raised money in the first quarter of this year, all of which were early-stage funding rounds. We also added more than two dozen startups as well as tracked the closure or... Our latest update to the Creator Economy Database shows signs of life in the industry despite...

Art by Shane Burke. Photos by Shutterstock, Bloomberg, Bluesky and Super Plastic.

Creator Economy Database

Some Creator Economy Deals Are Still Getting Done, Thanks to Twitter Chaos

By Isabelle Sarraf · Apr 13, 2023 2:35pm PDT

Two Twitter alternatives, two Web3-based startups and a social music platform for communal DJing: These are some of the 15 creator startups that bucked a severe downturn in funding to raise money in the first quarter, according to The Information’s newly updated Creator Economy Database. The database now tracks more than 350 private... Two Twitter alternatives, two Web3-based startups and a social music platform for communal DJing:...

DoorDash’s Secret to Success: Stable, Experienced Management Team

By Mark Matousek · Apr 13, 2023 1:33pm PDT · 1 comment

Tech firms may be known for their big personalities and frequent turnover. But that’s not DoorDash. The restaurant-meal delivery service’s CEO and co-founder, Tony Xu, keeps a low profile and his management team has been remarkably stable. Seven of his nine direct reports have been with him for an average tenure of five years, half... Tech firms may be known for their big personalities and frequent turnover. But that’s not...

Photo: Shutterstock

The AI Rush Could Shake Up Venture Capital's Ranks

By Kate Clark · Apr 13, 2023 1:27pm PDT · 4 comments

We probably all know by now that artificial intelligence, particularly generative AI, is venture capital’s current obsession. What’s interesting, though, is that firms like Spark Capital and Greylock Partners, respectable outfits but generally not considered in the same league as Sequoia Capital or Benchmark, have led the industry’s latest push... We probably all know by now that artificial intelligence, particularly generative AI, is venture...

Art by Clark Miller.

What Comes After TikTok

By Ryan Broderick · Apr 13, 2023 9:00am PDT · 2 comments

Art by Clark Miller.

What Comes After TikTok

By Ryan Broderick · Apr 13, 2023 9:00am PDT · 2 comments

Last month, the U.S. gave TikTok a choice—either its owner, Chinese artificial intelligence company ByteDance, has to sell it, or it will face a federal ban. As we wait to see how ByteDance responds, more than 25 U.S. states have gone ahead and banned the app from state employees’ devices. And in the event that ByteDance won’t... Last month, the U.S. gave TikTok a choice—either its owner, Chinese artificial intelligence...

Fraser Kelton, venture partner at Spark Capital. Photo via Fraser Kelton

Former OpenAI Exec Joins Spark Capital as Venture Push Into AI Heats Up

By Kate Clark · Apr 13, 2023 6:00am PDT · 1 comment

To gain an edge in the suddenly hot artificial intelligence category, one venture firm is hiring from the startup—OpenAI—that set off the generative AI craze in the first place. Spark Capital has hired Fraser Kelton, the former head of product at OpenAI, as a venture partner, Kelton and Nabeel Hyatt, a Spark general partner, told The... To gain an edge in the suddenly hot artificial intelligence category, one venture firm is hiring...

Moving salt at a lithium mine in the Salar de Atacama, Chile. Photo: Lucas Aguayo Araos/Anadolu/Getty

The Electric: Lithium Industry Veterans Are Forecasting a New Surge in the Metal’s Price

By Steve LeVine · Apr 13, 2023 4:30am PDT

Lithium prices are down almost 70% since a peak in November, depressing shares of a number of mining companies, but many analysts and industry veterans say a shortfall of the metal will soon drive a new surge in prices. The Biden administration on Wednesday announced a plan to significantly accelerate the creation of a U.S. electric vehicle... Lithium prices are down almost 70% since a peak in November, depressing shares of a number of...

HBO & Max Content CEO Casey Bloys at today's event. Photo by Getty

Warner’s New Max Service Is a Decade Overdue

By Martin Peers · Apr 12, 2023 5:00pm PDT

Better late than never. That could be the motto of Warner Bros. Discovery, which today put on a glitzy presentation to promote its overhauled streaming service, to be renamed Max (dropping HBO from the name) on May 23. The new service, combining shows from the company’s Discovery portfolio of reality shows with HBO Max’s lineup, is a worthy... Better late than never. That could be the motto of Warner Bros. Discovery, which today put on a...

Graphic by Shane Burke

The Waning Clout of Social Media Verification

By Kaya Yurieff · Apr 12, 2023 2:48pm PDT

Graphic by Shane Burke

Creator Economy

The Waning Clout of Social Media Verification

By Kaya Yurieff · Apr 12, 2023 2:48pm PDT

When I got verified on Instagram in October 2020, my friends were very impressed. It felt like a big flex. The coveted symbol gave my account an aura of importance. But the significance of that checkmark has been going through a major upheaval across social media. The genesis of the shift, of course, comes from Elon Musk’s acquisition of... When I got verified on Instagram in October 2020, my friends were very impressed. It felt like a...

Photo by Erin Beach.

Creator Economy Summit

Announcing the Creator Economy Summit 2023 Masterclasses

By The Information · Apr 12, 2023 11:50am PDT

We’re excited to see everyone on April 20th at The Information's Creator Economy Summit. Our masterclass breakout sessions are an important part of the Summit. At this year’s event, we’ll have two sets of 45-minute breakout sessions. Here’s a preview of this year’s topics. Gen Z and the Creator Economy (1:30... We’re excited to see everyone on April 20th at The Information's Creator Economy...

Partner Content

Event Recap: What’s Next for Generative AI

By The Information Partnerships · Apr 12, 2023 11:02am PDT

In a recent panel hosted by The Information in partnership with Comcast NBCUniversal LIFT Labs, several experts took a look at where artificial intelligence is now and where it’s going. Amir Efrati, executive editor at the Information, acted as moderator. The panelists included AI experts from the worlds of customer support, technology,... In a recent panel hosted by The Information in partnership with Comcast NBCUniversal LIFT Labs,...

Pascal Gauthier (left), president of Ledger, and Eric Larcheveque, CEO of Ledger. Photo by Bloomberg

Crypto VC Funding Slows to a Crawl

By Aidan Ryan · Apr 12, 2023 9:00am PDT

It’s not just in your head—our deals section has been thinner as of late, and recent data on venture funding for crypto startups show why.Crypto and blockchain startups raised just $900 million in the first quarter, according to PitchBook data on announced deals, down 87% from the same period in 2022 and the smallest haul since the fourth... It’s not just in your head—our deals section has been thinner as of late, and recent data on...

Illustration by Matheus Costa.

Google, Meta Struggle to Figure Out Employee Reviews

By Mark Matousek · Apr 12, 2023 6:00am PDT · 3 comments

Illustration by Matheus Costa.

Google, Meta Struggle to Figure Out Employee Reviews

By Mark Matousek · Apr 12, 2023 6:00am PDT · 3 comments

Last year, Google cut the number of employee performance reviews it conducts annually from two to one, responding to complaints that twice-a-year reviews consumed too much time. In the new system, managers were asked to talk more casually—but more frequently, once a quarter—with their subordinates about their performance. And Google... Last year, Google cut the number of employee performance reviews it conducts annually from two to...

Photo by Shutterstock.

Cybersecurity Firm Zscaler Loses Coveted Spot in Gartner Ranking Due to ‘Sales Arrogance’

By Kevin McLaughlin · Apr 12, 2023 5:00am PDT · 4 comments

Competition between the two of the biggest cybersecurity firms selling software monitoring employee access to cloud applications and data is set to intensify after influential market research firm Gartner cut its ranking on the market leader, Zscaler. In a regular update about the best positioned firms, Gartner ranked privately held... Competition between the two of the biggest cybersecurity firms selling software monitoring...

Garry Tan, CEO of YC. Photo by Getty.

Here Comes the Startup Panic

By Jessica E. Lessin · Apr 11, 2023 5:00pm PDT

Tech startups and investors have had a tumultuous few months. There was the crypto meltdown, the collapse of Silicon Valley Bank and, before that, the overall economic fallout from the weak economy and hammering of tech stocks. And as the dust has settled, there’s a new vibe in the air: concern—even a little desperation. Tech startups and investors have had a tumultuous few months. There was the crypto meltdown, the...

DJ Diplo. Photo by Maria José Govea

Creator Economy

DJ Diplo on ChatGPT, TikTok and the ‘Letdown’ of Web3

By Kaya Yurieff · Apr 11, 2023 2:39pm PDT

When thousands of people gathered at Los Angeles’ historic Greek Theatre in early February to pay tribute to P-22, a mountain lion who became something of a viral hit as he roamed the Hollywood Hills neighborhood, the house music star Diplo delivered a eulogy to the crowd. He credits OpenAI’s ChatGPT for helping him write a remembrance tinged... When thousands of people gathered at Los Angeles’ historic Greek Theatre in early February to pay...

T. Rowe Marked Down Cross River Stake Ahead of Banking Sector Meltdown

By Michael Roddan · Apr 11, 2023 11:26am PDT · 1 comment

T. Rowe Marked Down Cross River Stake Ahead of Banking Sector Meltdown

By Michael Roddan · Apr 11, 2023 11:26am PDT · 1 comment

Venture-backed Cross River Bank, a key partner to companies including Affirm and Coinbase, rode the coattails of the crypto and fintech boom—as well as a pandemic-era government business lending program. Now, as both sectors struggle with the impact of rising interest rates, some are losing faith in Cross River’s potential. Mutual... Venture-backed Cross River Bank, a key partner to companies including Affirm and Coinbase, rode...