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

Chris Licht. Photo by Getty.

The Real CNN Drama is Cable News' Growing Irrelevance

By Martin Peers · Jun 7, 2023 5:00pm PDT

To paraphrase Tolstoy, each unhappy TV channel is unhappy in its own way. And as illustrated by the leadup to the Wednesday exit of CNN’s CEO, Chris Licht, the cable news channel hasn’t been a happy place lately. That’s not likely to change now that Licht is gone. Beyond the gossipy drama behind his departure is the reality that CNN and its... To paraphrase Tolstoy, each unhappy TV channel is unhappy in its own way. And as illustrated by...

Creator Brian Brushwood. Photo: Bizarre Magic, Inc.

Creator Economy

After Vine and Google+ Shut Down, a Creator Embraces Email

By Kaya Yurieff · Jun 7, 2023 3:00pm PDT

Brian Brushwood’s online career illustrates how regularly social apps go up in smoke. The magician, who spent 15 years touring college campuses, started to post video clips of his life on the road online in 2006. He amassed more than one million followers on six-second video app Vine and one million followers on Google+. Then, both shut... Brian Brushwood’s online career illustrates how regularly social apps go up in smoke. The...

Jonah Peretti. Photo by Getty.

BuzzFeed Considers Sale of Complex Networks

By Sahil Patel · Jun 7, 2023 12:08pm PDT

BuzzFeed is exploring a potential sale of Complex Networks, a digital media firm it acquired when going public in late 2021 for nearly $300 million, according to people familiar with the matter. The move, which follows a decline in Complex’s revenues over the past couple of years, is a sign of the challenges facing BuzzFeed, once a... BuzzFeed is exploring a potential sale of Complex Networks, a digital media firm it acquired when...

Binance CEO Changpeng Zhao and Coinbase CEO Brian Armstrong. Photos by Getty

Breaking Down the SEC’s Double Whammy

By Aidan Ryan · Jun 7, 2023 9:30am PDT

Binance CEO Changpeng Zhao and Coinbase CEO Brian Armstrong. Photos by Getty

Breaking Down the SEC’s Double Whammy

By Aidan Ryan · Jun 7, 2023 9:30am PDT

The Securities and Exchange Commission started the week off with a one-two punch, filing lawsuits against Binance on Monday and Coinbase on Tuesday. The sweeping lawsuits shared some key charges, including that each company operates an unregistered securities exchange, but the Binance lawsuit contained other damning allegations,... The Securities and Exchange Commission started the week off with a one-two punch, filing lawsuits...

Sam Altman. Photo by Getty

This Is How Sam Altman Works the Press and Congress. I Know From Experience.

By Jessica E. Lessin · Jun 7, 2023 9:00am PDT · 12 comments

Sam Altman is warning me about an unsettling new technology with dangers of misuse.“It’s one of those things, the more you think about it, the more ways you can figure out a creep could abuse it,” he said. The industry must propose solutions, he argued, to “keep from getting legislated out of business.”Sound familiar? Sam Altman is warning me about an unsettling new technology with dangers of misuse.“It’s one of...

A Thursday Night Football game between the Jacksonville Jaguars and the New York Jets. Photo by Getty.

How Amazon Misread the NFL Ad Market

By Sahil Patel and Theo Wayt · Jun 7, 2023 6:00am PDT · 1 comment

Last summer, advertising representatives for a national pizza chain in the U.S. met with Amazon ad executives to negotiate a potential sponsorship deal for Amazon Prime Video’s broadcast of “Thursday Night Football.” Amazon executives asked the pizza chain for commitments of up to $12 million for the full season, double what... Last summer, advertising representatives for a national pizza chain in the U.S. met with Amazon...

Roelof Botha. Photo by Getty.

What Sequoia Should Have Said

By Jessica E. Lessin · Jun 6, 2023 5:00pm PDT · 1 comment

I remember my jaw dropping last year when The Information’s Juro Osawa reported that Sequoia China was in talks to raise more than $8 billion in new funding from U.S. investors and others.I was baffled. I just couldn’t imagine that Sequoia, which had picked a slew of winners in the U.S. and China ranging from Google to Meituan, was going to... I remember my jaw dropping last year when The Information’s Juro Osawa reported that Sequoia...

Photo via Getty

What’s Behind the Redditor API Strike

By Isabelle Sarraf · Jun 6, 2023 4:22pm PDT

Photo via Getty

Creator Economy

What’s Behind the Redditor API Strike

By Isabelle Sarraf · Jun 6, 2023 4:22pm PDT

People strike over wages, working conditions...and now, apparently, the decision by Reddit to charge developers for access to their users’ jokes, memes and gaming tips. On Monday, the managers of hundreds of forums on Reddit, including some of its most popular ones such as r/gaming and r/music, will take these forums private to protest the... People strike over wages, working conditions...and now, apparently, the decision by Reddit to...

Neil Shen, left, and Roelof Botha. Photos by Getty.

Sequoia Capital’s U.S. Partners May Reap China Gains Even After Split

By Kate Clark, Juro Osawa and Natasha Mascarenhas · Jun 6, 2023 2:09pm PDT · 1 comment

Sequoia Capital on Tuesday told investors that by the first quarter of next year it would fully separate its U.S. and China venture capital operations, ending an 18-year run during which Sequoia Capital China became China’s most successful VC firm and drove outsize returns for Sequoia’s global investors. But the separation, ... Sequoia Capital on Tuesday told investors that by the first quarter of next year it would fully...

Brian Armstrong, CEO of Coinbase. Photo by Bloomberg.

The Best- and Worst-Case Scenarios for Coinbase

By Aidan Ryan · Jun 6, 2023 12:15pm PDT

The Securities and Exchange Commission’s lawsuit against Coinbase today, alleging a wide range of securities violations, kicks off what will likely be a yearslong legal battle that holds the key to Coinbase’s future. If the SEC wins, it will be all but impossible for the crypto giant to do business in the U.S. The SEC alleges that... The Securities and Exchange Commission’s lawsuit against Coinbase today, alleging a wide...

Art by Clark Miller.

Mark Zuckerberg Is the Hero AI Needs

By Steve Weber and Shea Agnew · Jun 6, 2023 9:00am PDT · 9 comments

From Silicon Valley to Washington, America has suddenly woken up to the risks of artificial intelligence. While Congress is just beginning conversations over how to regulate AI, the technology is advancing at an astonishing pace. Rather than indulge the fantasy that regulation will establish a “responsible” AI trajectory quickly and... From Silicon Valley to Washington, America has suddenly woken up to the risks of artificial...

CareRev co-founder Will Patterson stepped down as CEO last week. Art by Clark Miller

A Long, Strange Trip for the ‘Uber for Nurses’

By Paris Martineau · Jun 6, 2023 6:00am PDT · 8 comments

CareRev co-founder Will Patterson stepped down as CEO last week. Art by Clark Miller

A Long, Strange Trip for the ‘Uber for Nurses’

By Paris Martineau · Jun 6, 2023 6:00am PDT · 8 comments

Will Patterson was on a hot streak. As the co-founder and CEO of CareRev—a gig-work platform sometimes described as an “Uber for nurses”—he saw his company’s business surge during the pandemic as hospitals and clinics scrambled to find healthcare workers. In late 2020, he seized the moment by pitching investors over... Will Patterson was on a hot streak. As the co-founder and CEO of CareRev—a gig-work...

Apple Vision Pro announcement video. Credit: Apple

What’s Clear and Blurry About Apple’s Vision Pro Headset

By Wayne Ma · Jun 6, 2023 5:00am PDT · 9 comments

Judging a new Apple personal computing device is a fool’s errand. Just ask the countless critics of the first iPhone, iPad and Apple Watch. Despite that unparalleled track record, the company’s $3,500 Apple Vision Pro headset, unveiled on Monday, might encounter unique challenges even as it appears likely to become the most advanced... Judging a new Apple personal computing device is a fool’s errand. Just ask the countless...

The Apple Vision Pro Headset. Photo by Getty.

Apple’s New Headset Makes Meta Look Like AR’s BlackBerry

By Martin Peers · Jun 5, 2023 5:00pm PDT · 1 comment

Apple may have just BlackBerried Meta Platforms’ Quest devices. Apple’s presentation of its mixed-reality headset, the Vision Pro, on Monday seems likely to spell the beginning of the end for Meta’s ambitions in augmented reality and virtual reality. Remarkably, given the endless amounts of media coverage devoted to this device over the past... Apple may have just BlackBerried Meta Platforms’ Quest devices. Apple’s presentation of its...

Victoria Thompson and Joe Eardley, executive producers of the docuseries ‘The Age of Influence.’ Photo of Thompson: ABC News

Creator Economy

The Rise of Influencer Scams and Scandals

By Kaya Yurieff · Jun 5, 2023 2:30pm PDT

A new Hulu docuseries out on Monday called “The Age of Influence” examines the underbelly of the influencer world, from people who’ve used social media to perpetuate scams and fraud to child abuse happening behind the scenes of a popular kids YouTube channel.The show, produced by Part2 Pictures for ABC News Studios, looks at lesser known... A new Hulu docuseries out on Monday called “The Age of Influence” examines the underbelly of the...

The Port of Los Angeles, where Next Trucking has a significant presence. Photo by David McNew/Getty Images.

Logistics Startup Next Trucking Tries to Sell Itself

By Maria Heeter · Jun 5, 2023 9:48am PDT · 2 comments

The Port of Los Angeles, where Next Trucking has a significant presence. Photo by David McNew/Getty Images.

Logistics Startup Next Trucking Tries to Sell Itself

By Maria Heeter · Jun 5, 2023 9:48am PDT · 2 comments

Sequoia Capital–backed logistics startup Next Trucking, facing a slowdown in the trucking sector, is trying to sell itself, according to people familiar with the matter and a pitch deck reviewed by The Information. Next has enlisted the help of BG Strategic Advisors, a Florida-based boutique investment bank specializing in transportation... Sequoia Capital–backed logistics startup Next Trucking, facing a slowdown in the trucking...

Art by Clark Miller, Shutterstock.

Startups to Watch

Five Startups Vying to Be the OpenAI of China

By Juro Osawa · Jun 5, 2023 6:00am PDT · 2 comments

As OpenAI and Google battle for artificial intelligence supremacy in the West, a parallel contest is happening in China. Dozens of young Chinese startups as well as local tech giants Alibaba, Tencent and Baidu are developing machine-learning models to power chatbots similar to OpenAI’s ChatGPT. Five Chinese startups, including MiniMax and... As OpenAI and Google battle for artificial intelligence supremacy in the West, a parallel contest...

President Joe Biden has championed his administration's $250 billion program to build a U.S. battery industry. But, in a recent House vote, all but four Republicans supported repeal of the Inflation Reduction Act, the core of the battery effort. Photo: Oliver Contreras/Getty

The Electric: The U.S. Battery Program Spreads the Wealth. Will That Save It?

By Steve LeVine · Jun 5, 2023 4:30am PDT · 1 comment

As it has for decades, the U.S. this year will spend hundreds of billions of dollars on its military. Political support for that spending remains strong, through peace and war, in part because the Pentagon is careful to disburse it across virtually every Congressional district and through 200,000 defense contractors. Critics claim the system... As it has for decades, the U.S. this year will spend hundreds of billions of dollars on its...

Live from SF, It’s Tech Week

Live from SF, It’s Tech Week

By Jon Steinberg · Jun 3, 2023 6:00am PDT

Hi, welcome to your Weekend.It was the boom-iest of times, it was the doom-iest of times. At least that’s how it feels right now in Dickensian San Francisco, where AI companies are setting up shop on every avenue, while fentanyl dealers are hanging out in every alley. I joke—but seriously, it’s wild out here. No fewer than 17 of the 35 startups... Hi, welcome to your Weekend.It was the boom-iest of times, it was the doom-iest of times. At...

Tarlon Khoubyari (center) takes a photo of an onstage presentation at “Not a Boring Tech Party” on Thursday in the Mission District. It was a launch party for events company AfterWork, which is creating AI tools for party planners. Photograph by Laura Morton for The Information

What Doom Loop? A Six-Day Tech Party Tries to Shift the Vibes in San Francisco

By Erin Woo · Jun 3, 2023 6:00am PDT · 3 comments

Tarlon Khoubyari (center) takes a photo of an onstage presentation at “Not a Boring Tech Party” on Thursday in the Mission District. It was a launch party for events company AfterWork, which is creating AI tools for party planners. Photograph by Laura Morton for The Information

What Doom Loop? A Six-Day Tech Party Tries to Shift the Vibes in San Francisco

By Erin Woo · Jun 3, 2023 6:00am PDT · 3 comments

Thousands converged on San Francisco this week for a 200-event “SF Tech Week” extravaganza that attempted to answer the question: Wait, isn’t every week tech week in San Francisco? The six-day roving party, which officially ends Sunday evening, was organized by Andreessen Horowitz, the famed and flashy venture capital firm... Thousands converged on San Francisco this week for a 200-event “SF Tech Week”...