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.

Make Time for This Tax Secret

By AJ Ayers · Apr 11, 2023 9:00am PDT · 1 comment

If you’re a founder or you work in the startup space, you can’t afford to be ignorant about tax law, especially in a down market. One day a piece of paper says you’re worth tens of millions of dollars; the next day, pennies. Many first-time founders saw their valuations drop for the first time in 2022—and with April 18... If you’re a founder or you work in the startup space, you can’t afford to be ignorant...

YC CEO Garry Tan. Photo by Getty.

Garry Tan’s First Big Move as Y Combinator CEO Roils Founders

By Kate Clark · Apr 11, 2023 6:00am PDT · 14 comments

The first big change made by Y Combinator’s new CEO and president Garry Tan—to shutter a fund investing in mature startups so it could sharpen its focus on much younger companies—has set off an uproar among founders backed by the esteemed startup accelerator. The first big change made by Y Combinator’s new CEO and president Garry Tan—to ...

ThredUp CEO James Reinhart. Photo by Bloomberg.

What ThredUp’s Exec Comp Says About Founder Incentives

By Martin Peers · Apr 10, 2023 5:03pm PDT

Here’s a question: What incentives does a CEO need to stick around to work hard to advance the company’s priorities? If they’re a founder with a decent equity stake, the answer should be none. The opportunity to lift the value of their existing shares should be incentive enough. That’s apparently the view of big tech firms like Meta Platforms,... Here’s a question: What incentives does a CEO need to stick around to work hard to advance the...

Photo via Shutterstock

TikTok Shopping Is Off to a Slow Start

By Isabelle Sarraf · Apr 10, 2023 2:06pm PDT

Photo via Shutterstock

Creator Economy

TikTok Shopping Is Off to a Slow Start

By Isabelle Sarraf · Apr 10, 2023 2:06pm PDT

TikTok invited hundreds of U.S. merchants to join its shopping service in November, but fewer than 100 of them were using it as of last month, my colleagues Juro, Theo, Ann and Kaya reported on Monday. That’s just some of the reporting that shows how few inroads TikTok has made in U.S. e-commerce so far.Yes, the U.S. version of TikTok Shop is... TikTok invited hundreds of U.S. merchants to join its shopping service in November, but fewer...

Photo by Bloomberg.

Amazon Starts Charging for Some UPS Store Returns

By Theo Wayt · Apr 10, 2023 12:33pm PDT · 4 comments

Amazon has started charging fees to make some returns at UPS Stores, marking the latest effort by the e-commerce giant to cut down on costs associated with customers sending back items. Returns have been an expensive headache for e-commerce companies after they skyrocketed during pandemic lockdown and have remained stubbornly high.... Amazon has started charging fees to make some returns at UPS Stores, marking the latest effort by...

From left: Nichole Wischoff, Helen Min, Meena Harris and Erica Wenger. Photos via Wischoff Ventures, Phenomenal Ventures and Erica Wenger.

Cash Dries Up for VC Newcomers

By Kate Clark and Becky Peterson · Apr 10, 2023 10:10am PDT · 10 comments

When Helen Min and Meena Harris started raising money for their debut venture capital fund in January of last year, they expected that their combined 30 years of experience at tech companies would allow them to collect $15 million, a standard first-time fund target. Then interest rates spiked, sending tech stocks careening. By December, when... When Helen Min and Meena Harris started raising money for their debut venture capital fund in...

Partner Content

Recap: The New Financial Playbook: New Banking Strategies

By The Information Partnerships · Apr 10, 2023 9:18am PDT · 1 comment

The tech sector was taken by surprise when Silicon Valley Bank collapsed back in March. Startups faced uncertainty around what the news meant for their money and questions about how to make payroll arose. Brex —the six-year-old fintech company that specializes in credit cards and spend management solutions—took quick action by... The tech sector was taken by surprise when Silicon Valley Bank collapsed back in March. Startups...

Art by Mike Sullivan.

TikTok Struggles to Enlist U.S. Merchants for Shopping Service

By Juro Osawa, Theo Wayt, Ann Gehan and Kaya Yurieff · Apr 10, 2023 6:01am PDT · 1 comment

Art by Mike Sullivan.

TikTok Struggles to Enlist U.S. Merchants for Shopping Service

By Juro Osawa, Theo Wayt, Ann Gehan and Kaya Yurieff · Apr 10, 2023 6:01am PDT · 1 comment

As TikTok tries to win over U.S. politicians, it may have kneecapped its shopping service, TikTok Shop. Relatively few U.S. merchants are showing interest in signing up for the nascent service, both because they’re more focused on expanding in bricks and mortar and because they’re concerned the app could be banned, merchants say. ... As TikTok tries to win over U.S. politicians, it may have kneecapped its shopping service, TikTok...

The sodium-ion powered JAC EX10, which is to go on sale in June in China. Photo: Courtesy JAC

The Electric: Do Western Car and Battery Companies Have a Sodium Blind Spot?

By Steve LeVine · Apr 10, 2023 4:30am PDT

For all the talk of lithium as the driver behind the nascent electric vehicle industry, a second, much less-discussed battery metal has been attracting recent attention. It is sodium, a cheap ingredient of ordinary salt. Long derided as lithium’s poorer cousin in terms of battery value, it is surprisingly showing better performance in some... For all the talk of lithium as the driver behind the nascent electric vehicle industry, a second,...

Art by Clark Miller

Market Research

Roadie Revolution: The Stunning New Tech on Silicon Valley Bikes

By Tim Stevens · Apr 8, 2023 7:00am PDT · 7 comments

As a technology, the bicycle hasn’t changed much since 1885, when designer J.K. Starley decided to use a chain to drive the rear wheel. Nearly 140 years later, a foot still turns a crank that pulls a chain that spins a wheel. But the tech that’s layered on top of the modern bicycle is the stuff of sci-fi. I spoke with a number of... As a technology, the bicycle hasn’t changed much since 1885, when designer J.K. Starley...

Crime Data vs. Lived Reality

Crime Data vs. Lived Reality

By Jon Steinberg · Apr 8, 2023 7:00am PDT · 2 comments

Hi, welcome to your Weekend. This week, Annie brings us the story of a family-run startup arming young women with a new kind of safety device: The Birdie. Invented by two sisters whose children had been sexually assaulted, the emergency alarm attaches easily to bags or belt loops and screeches like a smoke detector when it’s activated.... Hi, welcome to your Weekend. This week, Annie brings us the story of a family-run startup...

Art by Clark Miller

How Chess.com Became ‘the Wild West of the Streaming World’

By Jessica Lucas · Apr 7, 2023 11:00am PDT · 1 comment

Art by Clark Miller

How Chess.com Became ‘the Wild West of the Streaming World’

By Jessica Lucas · Apr 7, 2023 11:00am PDT · 1 comment

When Michael Brancato began working with Chess.com in late 2017, it wasn’t particularly popular. A product manager at Twitch, Brancato was tapped to spearhead a two-year partnership between the chess site and the video streaming giant, hoping to grow the 1,500-year-old game’s reputation as a legitimate e-sport. He had his work cut... When Michael Brancato began working with Chess.com in late 2017, it wasn’t particularly...

Art by Clark Miller.

Fear the Birdie: Can an Ear-Splitting Device Make Women Feel Safer?

By Annie Goldsmith · Apr 7, 2023 9:05am PDT · 6 comments

A few months ago, I broke down and bought myself a Birdie, a $30 personal safety device that’s the size of a canary and the color of a candy bracelet. When activated, it emits an electronic shriek that is said to reach 130 decibels, loud enough to make your ears hurt and, theoretically, to keep bad guys at heel. Already my relationship... A few months ago, I broke down and bought myself a Birdie, a $30 personal safety device...

Art by Mike Sullivan.

Pro Weekly: Washington Calling

By Jessica E. Lessin · Apr 7, 2023 8:00am PDT

Welcome back!Scott is on vacation, and so I’m coming to you Pro subscribers this week to say a quick hello and share some thoughts ahead of this holiday weekend. It’s a pretty lively time between technology and Washington. Over the last few years, all anyone wanted to talk about was antitrust. And while those cases and issues are still... Welcome back!Scott is on vacation, and so I’m coming to you Pro subscribers this week to say a...

Art by Mike Sullivan

AI Developers Stymied by Server Shortage at AWS, Microsoft, Google

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

Startups and other companies trying to capitalize on the artificial intelligence boom sparked by OpenAI are running into a problem: They can’t find enough specialized computers to make their own AI software. A spike in demand for server chips that can train and run machine-learning software has caused a shortage, prompting major... Startups and other companies trying to capitalize on the artificial intelligence boom sparked by...

Photo by Getty

What OpenAI Is Doing That Google Isn’t

By Martin Peers · Apr 6, 2023 5:00pm PDT

Photo by Getty

What OpenAI Is Doing That Google Isn’t

By Martin Peers · Apr 6, 2023 5:00pm PDT

Sibling rivalry. It’s a real thing, as any parent with more than one child knows, and it can either motivate a kid to work harder or alienate them. No, you haven’t accidentally opened a newsletter about parenting. Sibling rivalry turns out to be a big problem in tech. It prevented the two AI labs within Google’s parent Alphabet from working... Sibling rivalry. It’s a real thing, as any parent with more than one child knows, and it can...

Art by Shane Burke

Creator Economy

How Creators Are Making Money From ByteDance-owned CapCut

By Isabelle Sarraf · Apr 6, 2023 4:46pm PDT

So many TikTok videos on my For You Page the last few weeks have featured a CapCut overlay of “The Last of Us” actor Pedro Pascal eating a peanut butter and jelly sandwich. The template, made on the app owned by TikTok’s parent company, ByteDance, has been used more than 1.15 million times on TikTok and other apps, according to metrics from... So many TikTok videos on my For You Page the last few weeks have featured a CapCut overlay of “...

Photo by AP.

The Information's 411

Special 411 Podcast: Jessica Lessin interviews Kara Swisher

By Jessica E. Lessin · Apr 6, 2023 2:15pm PDT · 1 comment

A few weeks ago, at the SXSW conference, I sat down with journalist and the host of “Pivot” and “On with Kara Swisher,” Kara Swisher. With Silicon Valley Bank imploding around us, and technology companies on edge about all sorts of issues, it felt like a good time to check with Swisher on not just the state of tech, but... A few weeks ago, at the SXSW conference, I sat down with journalist and the host of...

Photo by Getty

Bessemer Fights to Win $350 Million Valuation AI Deal

By Kate Clark · Apr 6, 2023 12:53pm PDT

After months of writing about layoffs and cram downs, I stumbled across the rare buzzy deal in Silicon Valley this week. More than half a dozen venture capital firms have been vying for a stake in a San Francisco startup—EvenUp—that uses artificial intelligence to help personal injury lawyers compile claims using medical documents and case... After months of writing about layoffs and cram downs, I stumbled across the rare buzzy deal in...

Art by Clark Miller.

India Is the World’s Next Tech Manufacturing Hub

By Shaoshan Liu · Apr 6, 2023 9:00am PDT · 2 comments

Art by Clark Miller.

India Is the World’s Next Tech Manufacturing Hub

By Shaoshan Liu · Apr 6, 2023 9:00am PDT · 2 comments

Historically, India has been a software kingdom, a place where more advanced economies such as the U.S. outsource their development jobs. Lacking both the infrastructure and the expertise necessary to be competitive in manufacturing, India rarely produced any major consumer electronic products. That is poised to change. As major tech... Historically, India has been a software kingdom, a place where more advanced economies such as...