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

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Big Entertainment Has Good and Bad News

By Martin Peers · Nov 8, 2023 5:24pm PST

There’s good news and bad news for Big Entertainment today. Firstly, the actors strike is over, which means film and TV production can finally resume. Yippee! Second, the September-quarter results out Wednesday from Disney and Warner Bros. Discovery showed both are getting streaming losses under control. (In WBD’s case, it’s making money!). The... There’s good news and bad news for Big Entertainment today. Firstly, the actors strike is over, ...

Bonsai co-founders Patrick Sullivan and Jake Rosenfeld. Photo: Diego Clare

Creator Economy

A Startup Pivots to Music as Fan Fever Rises

By Kaya Yurieff · Nov 8, 2023 3:12pm PST

Startups offering various services for musicians have proven popular with investors lately amid a broader drop in funding for creator startups. That partly reflects the opportunity created by social media apps that have helped new musicians quickly gain followings, while established ones can more easily communicate with fans and see their tracks... Startups offering various services for musicians have proven popular with investors lately amid a...

Snap CEO Evan Spiegel. Photo by AFP via Getty.

Snap Lays Off Product Managers as Spiegel Revamps Workforce

By Erin Woo · Nov 8, 2023 2:06pm PST · 1 comment

Snap has laid off nearly 20 product managers, the latest shakeup at the social app after several top departures over the last three months. Separately, Snap’s longtime vice president of engineering, Nima Khajehnouri, told employees earlier this week that he was leaving. His last day at the company will be Dec. 1, a Snap... Snap has laid off nearly 20 product managers, the latest shakeup at the social app after...

Left to right: Jessica Lessin, Michele Anderson, Alissa Starzak, Shelley McKinley. Photo by Erin Beach for The Information.

WTF Recap: Regulation Armageddon—Are You Ready?

By The Information Partnerships · Nov 8, 2023 9:55am PST

Left to right: Jessica Lessin, Michele Anderson, Alissa Starzak, Shelley McKinley. Photo by Erin Beach for The Information.

Partner Content

WTF Recap: Regulation Armageddon—Are You Ready?

By The Information Partnerships · Nov 8, 2023 9:55am PST

In recent years, the tech industry has seen exponential growth and transformation, with companies disrupting traditional business models and ushering in an era of hyperinnovation. This remarkable evolution has triggered an increased focus on regulation across the U.S. and EU. Jessica Lessin, founder and CEO of The Information, explored the path... In recent years, the tech industry has seen exponential growth and transformation, with companies...

Left to right: Jessica Lessin, Rosie Sargeant, Lyra Schramm, Dr. Rebecca Hinds. Photo by Erin Beach for The Information.

Partner Content

WTF Recap: Generative AI—The Secret Weapon for a Hybrid Workforce

By The Information Partnerships · Nov 8, 2023 9:54am PST

As workers return to the office part-time, many are finding a new co-worker in the mix: generative artificial intelligence. Jessica Lessin, founder and CEO of The Information, explored the symbiotic relationship between generative AI and hybrid work at The Information’s 2023 WTF Summit with three experts: Rosie Sargeant, project leader,... As workers return to the office part-time, many are finding a new co-worker in the mix:...

OpenSea CEO Devin Finzer. Photo by Bloomberg via Getty.

OpenSea 2.0 Leaves a Lot to the Imagination

By Aidan Ryan · Nov 8, 2023 9:03am PST

OpenSea CEO Devin Finzer announced last week, in what seemed to be a post-Sam Bankman-Fried trial Friday afternoon news dump, that the NFT marketplace was laying off 50% of its staff and pivoting to “OpenSea 2.0.” Halfway through this new week and OpenSea is still the biggest news on the crypto beat.My colleague Kate scooped yesterday that ... OpenSea CEO Devin Finzer announced last week, in what seemed to be a post-Sam Bankman-Fried trial...

Juliet de Baubigny, left. Photo by Joe Scarnici/Getty Image for Fortune.

Juliet de Baubigny Joins BDT & MSD Partners as Part of Its Tech Push

By Lauren Tara LaCapra · Nov 8, 2023 8:29am PST · 2 comments

Juliet de Baubigny is ready for what she calls “act three” of her career. After more than 20 years spent developing deep ties with founders across Silicon Valley and Europe, first at Kleiner Perkins and then as a co-founder of Bond Capital, the venture capital veteran is joining BDT & MSD Partners to ramp up its presence in the... Juliet de Baubigny is ready for what she calls “act three” of her career. After more...

Photo by Midjourney.

Amazon’s ‘Olympus’ Model Faces Steep Odds; Nvidia Crushes Google in AI Chip Test

By Anissa Gardizy · Nov 8, 2023 8:05am PST

Photo by Midjourney.

Amazon’s ‘Olympus’ Model Faces Steep Odds; Nvidia Crushes Google in AI Chip Test

By Anissa Gardizy · Nov 8, 2023 8:05am PST

Amazon’s mostly male executives apparently aren’t among the large group of men who supposedly spend much of the day thinking about the ancient Roman Empire. Instead, the folks at Amazon Web Services have been more focused on Greek mythology—at least when it comes to the naming conventions of their AI models.After its first batch of models,... Amazon’s mostly male executives apparently aren’t among the large group of men who supposedly...

Art by Clark Miller.

How SaaS Startups Can Compete in a Bundled World

By Tomasz Tunguz · Nov 8, 2023 8:00am PST · 3 comments

The stock market has recovered somewhat after taking a battering last year. But this rebound masks how software buyers have shifted their purchasing priorities, slashing vendor revenue growth rates in the process. No longer do best-of-breed programs dominate; now it’s all about best-for-budget. Vendr, which tracks software spending, says... The stock market has recovered somewhat after taking a battering last year. But this rebound...

Photo via Shutterstock.

Banks Ran Their Safest IPO Playbooks This Year. Investors Say It Backfired.

By Cory Weinberg · Nov 8, 2023 6:00am PST · 2 comments

It seemed like a surefire way to juice investor demand in a tough market: Instacart lined up a group of existing and new investors, ranging from Sequoia Capital to Norway’s sovereign wealth fund, to buy up to $400 million, or 60% of the stock it planned to sell in its September initial public offering. In the days leading up to the IPO,... It seemed like a surefire way to juice investor demand in a tough market: Instacart lined up a...

Photo via Shutterstock

Uber’s Cash-Printing Press Revs Up

By Martin Peers · Nov 7, 2023 5:00pm PST

Uber is finally on the right road. That could be Uber CEO Dara Khosrowshahi’s motto today, as the ride-hailing and food-delivery conglomerate demonstrates that its cash-printing press is revving up. After producing a small amount of cash last year, Uber’s free cash flow more than doubled in the third quarter to $905 million, while for the year... Uber is finally on the right road. That could be Uber CEO Dara Khosrowshahi’s motto today, as the...

Gigmor CEO David Baird. Photo from Gigmor.

Two Startups Test Crowdfunding as Venture Dollars Dry Up

By Kalley Huang · Nov 7, 2023 3:12pm PST

Gigmor CEO David Baird. Photo from Gigmor.

Creator Economy

Two Startups Test Crowdfunding as Venture Dollars Dry Up

By Kalley Huang · Nov 7, 2023 3:12pm PST

As funding for creator economy startups has dried up, some companies are turning to unconventional means to raise money. In March, the newsletter platform Substack raised $7.8 million in what it called a “community round,” inviting its writers to invest in the company. Now, more startups are following in its footsteps.On Tuesday, Gigmor, which... As funding for creator economy startups has dried up, some companies are turning to...

Apartment listing photo via Zeus Living.

Airbnb-Backed Real Estate Startup Zeus Living Is Shutting Down

By Cory Weinberg · Nov 7, 2023 1:41pm PST · 2 comments

Zeus Living, a property management startup that raised $150 million from tech investors, is “winding down operations,” the firm told landlords this week. The shutdown is the latest blow to a real estate tech sector struggling because of rising interest rates. Zeus leased homes and apartments, furnished them and then sublet them to... Zeus Living, a property management startup that raised $150 million from tech investors, is...

Philippe Laffont, founder of Coatue Management. Photo by Bloomberg.

Coatue Cuts Value of OpenSea Stake by 90% as Fund’s Returns Sag

By Kate Clark · Nov 7, 2023 12:41pm PST · 3 comments

One of OpenSea’s biggest investors has marked down by 90% its stake in the struggling non-fungible-token marketplace, implying that the former crypto darling is now valued at $1.4 billion or less on paper. Coatue Management, a New York–based hedge and venture fund, slashed the value of its $120 million stake in the company to $13... One of OpenSea’s biggest investors has marked down by 90% its stake in the struggling...

Art from Mike Sullivan

American AI Startups Quietly Raise Money From Top Chinese VC Firms, Including Sequoia Capital China

By Juro Osawa · Nov 7, 2023 10:25am PST · 1 comment

Major Chinese venture capital firms are quietly investing in American artificial intelligence startups, undeterred by growing concerns from U.S. officials about Chinese involvement in local technology firms. For example, Sequoia Capital China, the biggest VC firm by assets in mainland China, recently invested in UTA, or Universal Travel... Major Chinese venture capital firms are quietly investing in American artificial intelligence...

Photo by Getty.

Shein Hires TikTok’s Top U.S. Logistics Exec

By Ann Gehan · Nov 7, 2023 7:37am PST · 4 comments

Photo by Getty.

Shein Hires TikTok’s Top U.S. Logistics Exec

By Ann Gehan · Nov 7, 2023 7:37am PST · 4 comments

Shein has hired TikTok owner ByteDance’s top U.S. logistics executive, Wei “Andy” Huang, to lead its fulfillment and logistics operations. The hiring is a big win for the China-founded fast-fashion giant as it tries to edge out TikTok in the online shopping arena. The hiring is also a sign of Shein’s ambitions to compete... Shein has hired TikTok owner ByteDance’s top U.S. logistics executive, Wei...

Photo by Getty.

OpenAI’s ‘Extinction Event’ For Other AI Startups

By Stephanie Palazzolo · Nov 7, 2023 7:00am PST

Despite Elon Musk’s attempts to steal the spotlight, the AI community gave its undivided attention on Monday to OpenAI’s first-ever live event for developers and the press. The large-language model developer didn’t announce any mind-blowing research breakthroughs, but several of its product improvements undoubtedly will hurt some smaller,... Despite Elon Musk’s attempts to steal the spotlight, the AI community gave its undivided...

Photo via Getty.

Supply Chain Unicorns Say: We’re Not the Next Convoy

By Theo Wayt and Ann Gehan · Nov 7, 2023 6:00am PST · 1 comment

Trucking startup Convoy abruptly shut down last month, while freight forwarder Flexport’s revenue has cratered. Other supply chain unicorns are now trying to prove they will have a different fate. Previously unreported financial data for three other major supply chain startups, including Project44 and Cart.com, show all of them are on... Trucking startup Convoy abruptly shut down last month, while freight forwarder Flexport’s...

Behind Enterprise Software Stocks' Lackluster Year

Behind Enterprise Software Stocks' Lackluster Year

By Akash Pasricha · Nov 6, 2023 5:00pm PST

The good news from tech’s earnings season, so far, is that the ad market appears to have recovered a lot from the worst of the downturn. But that’s likely not true for enterprise software. While we haven’t yet heard earnings updates from most enterprise software firms, some of those who have reported suggest that business remains weak, thanks to... The good news from tech’s earnings season, so far, is that the ad market appears to have...

Photo by Shutterstock

Threads Courts Reality TV Creators

By Kaya Yurieff · Nov 6, 2023 2:25pm PST

Photo by Shutterstock

Creator Economy

Threads Courts Reality TV Creators

By Kaya Yurieff · Nov 6, 2023 2:25pm PST

We’re starting the week off with a scoop about Instagram’s efforts to court creators. Instagram’s Threads recently invited some creators to join “Pops,” a new community of reality TV and pop culture creators on the text-based app. Among other incentives, it will offer challenges where creators compete to win unnamed “special prizes,” we are... We’re starting the week off with a scoop about Instagram’s efforts to court creators. ...