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

Composite by Clark Miller. Apple Vision Pro photo by Josh Edelson/AFP via Getty Images.

Apple Hopes Chinese Suppliers Can Solve Vision Pro’s Display Challenges

By Wayne Ma · Aug 29, 2023 6:00am PDT · 2 comments

When Apple dealt with Chinese manufacturers in the past, it was to buy low-level components such as small metal parts, paper boxes and batteries. For advanced parts such as displays and chips, the iPhone maker turned to firms headquartered in the U.S., Japan, South Korea and Taiwan. Times are changing. Apple is currently testing advanced... When Apple dealt with Chinese manufacturers in the past, it was to buy low-level components such...

U.S. Commerce Secretary Gina Raimondo in Beijing on August 28, 2023. Photo by Getty.

Will Beijing Buy Raimondo’s Dividing Line?

By Jessica Lessin · Aug 28, 2023 5:01pm PDT

BEIJING—After five minutes of staring at the wrinkle cream and waxing products, it all started to make sense. The U.S. can trade more with China, Secretary of Commerce Gina Raimondo argued. But it will stick to products that have nothing to do with its national security, like moisturizer—or other items that contribute the vast majority of... BEIJING—After five minutes of staring at the wrinkle cream and waxing products, it all started to...

From left to right: Creators Katerina and Yinon Horowitz, Jack Settleman, Komal Nambiar, Ross Pomerantz and Raven Ross. Art by Clark Miller

Creator Economy

What’s Overlooked When Startup Funding Tailspins

By Kaya Yurieff · Aug 28, 2023 1:59pm PDT

How are creator economy startups doing during the downturn? Not so hot. How are the creators themselves faring? Much better, as I reported in a story earlier today. Two charts published in the piece sum up the divergence: While VC funding for startups hoping to attract creators as customers has plummeted, spending on influencer marketing—a... How are creator economy startups doing during the downturn? Not so hot. How are the creators...

Chamath Palihapitiya. Photo by Variety via Getty Images.

Chamath Palihapitiya’s Venture Firm Offered to Sell Hundreds of Startup Stakes

By Maria Heeter · Aug 28, 2023 12:36pm PDT · 8 comments

Chamath Palihapitiya. Photo by Variety via Getty Images.

Chamath Palihapitiya’s Venture Firm Offered to Sell Hundreds of Startup Stakes

By Maria Heeter · Aug 28, 2023 12:36pm PDT · 8 comments

Social Capital, the investment firm led by venture capitalist Chamath Palihapitiya, tried to sell stakes in hundreds of young companies in June of this year, according to people familiar with the matter. The stakes for sale were worth $312 million in total based on the valuations at which the companies last raised money, the people said. ... Social Capital, the investment firm led by venture capitalist Chamath Palihapitiya, tried to sell...

Photo via Klaviyo.

Klaviyo IPO Filing Highlights Challenges for Marketing Startups

By Ann Gehan · Aug 28, 2023 9:00am PDT · 5 comments

Klaviyo, the e-commerce marketing software provider backed by Accel and Shopify, has whipped itself into shape ahead of its public debut. Its initial public offering documents, disclosed on Friday, revealed it turned profitable in the first half of the year after it reined in cloud computing costs and raised prices. Even so, at prevailing... Klaviyo, the e-commerce marketing software provider backed by Accel and Shopify, has whipped...

Photo by Midjourney.

A Sequoia Capital-Backed AI-Video Startup Raises Nearly $20 Million; Eight Startups Taking on Nvidia

By Stephanie Palazzolo · Aug 28, 2023 7:00am PDT

We’re starting the new week with fundraising news about a fast-evolving part of generative artificial intelligence: video.Tavus, a two-year-old startup whose software helps companies customize videos they can then send to prospective customers, job candidates and others, has raised about $18 million in Series A funding at a $80 million... We’re starting the new week with fundraising news about a fast-evolving part of generative...

Clockwise from left, creators Katerina and Yinon Horowitz, Jack Settleman, Ross Pomerantz, Raven Ross and Komal Nambiar. Art by Clark Miller

How Influencers Dodged the Destruction in Creator Startups

By Kaya Yurieff · Aug 28, 2023 6:00am PDT · 1 comment

Times are grim for startups that sell products and services to creators. Some are folding, while others can’t pivot their businesses away from the creator economy fast enough. The creators themselves, however, are proving to be far more resilient. Consider Katerina and Yinon Horowitz, a couple who quit their full-time jobs four years ago... Times are grim for startups that sell products and services to creators. Some are folding, while...

A battery oversupply from CATL and other major Chinese companies may flood the West this decade, according to Goldman Sachs. Photo: CFOTO/Future/Getty

The Electric: A Coming Chinese Battery Deluge?

By Steve LeVine · Aug 28, 2023 4:30am PDT · 4 comments

A battery oversupply from CATL and other major Chinese companies may flood the West this decade, according to Goldman Sachs. Photo: CFOTO/Future/Getty

The Electric: A Coming Chinese Battery Deluge?

By Steve LeVine · Aug 28, 2023 4:30am PDT · 4 comments

On Aug. 15, a California-based executive of Chinese battery company Gotion posted a message on LinkedIn, offering lithium-ion batteries at a “significant” markdown. “If you are interested in cells, modules, packs, or systems and would like to take deliveries in the next 6 months—let’s talk,” wrote Vikash Venkataramana, Gotion’s vice president of... On Aug. 15, a California-based executive of Chinese battery company Gotion posted a message on...

From left, megayacht owners Jan Koum, Jeff Bezos, Barry Diller, Diane von Furstenberg and Evan Spiegel. Art by Clark Milller

Yacht Brinkmanship: Owners of Tech’s Biggest Pleasure Craft Compete to the Ends of the Earth

By Andrew Zucker · Aug 26, 2023 6:00am PDT · 10 comments

If you’re Sergey Brin, Evan Spiegel, Jan Koum, Jeff Bezos, Laurene Powell Jobs, Eric Schmidt, Yuri Milner or any one of dozens of other modern-day tech moguls, it’s not enough to just own a yacht. Now you might need two—one for you and your guests to ride on, and one to act as a “support vessel,” tailing you around... If you’re Sergey Brin, Evan Spiegel, Jan Koum, Jeff Bezos, Laurene Powell Jobs, Eric...

Market Research

Market Research: The AI Boom Expands to the Hair and Makeup Counter

By Beth Shapouri · Aug 26, 2023 6:00am PDT

Selin Tyler was frustrated. The director of product marketing and business operations for Dolby Technologies was stuck in what she called “a cycle of trial and error” with her skin. She turned to Parallel Health, a beauty company focused on custom skin care, set to launch next month. Tyler joined the brand’s 2021 Institutional... Selin Tyler was frustrated. The director of product marketing and business operations for Dolby...

Tech Leaders Spend How Much(?!) on Their Bodies?

Tech Leaders Spend How Much(?!) on Their Bodies?

By Jon Steinberg · Aug 26, 2023 6:00am PDT

Hi, welcome to your Weekend.It’s Annie here, stealing this week’s newsletter opener from Jon (don’t worry, he knows). I wanted to properly introduce The Information Weekend’s first ever Brain-Body Investment Survey, which we’ve been working on over the past month. In my nearly two years at The Information, I’ve taken special interest in... Hi, welcome to your Weekend.It’s Annie here, stealing this week’s newsletter opener from Jon (don...

Why Hybrid Work Doesn’t Work, Long Live the Phone Call

By Jessica Lessin · Aug 25, 2023 3:01pm PDT

Why Hybrid Work Doesn’t Work, Long Live the Phone Call

By Jessica Lessin · Aug 25, 2023 3:01pm PDT

We’re back in the Bay Area this week and thinking a lot about the future of this place. And so, inevitably, the squad (quad?) got to talking about the future of startup work culture. I had no idea my friends (and husband) thought it was so broken. That, plus Nvidia's blowout earnings. Hope you enjoy. Spotify Apple We’re back in the Bay Area this week and thinking a lot about the future of this place. And...

Photo via Instacart

What Instacart, Arm and Klaviyo Have in Common

By Martin Peers · Aug 25, 2023 3:00pm PDT

That special category of finance geeks who know what the term S-1 means (it’s a fancy industry term for an IPO filing) had their hands full this week, the first time in a long while we’ve seen a bunch of tech companies filing to go public. (Pause here for clapping.) After Monday’s filing by Arm, today brought filings from Instacart (known... That special category of finance geeks who know what the term S-1 means (it’s a fancy industry...

Photo via Shutterstock.

Pepsi, Norway and a Lockup Quirk: Our Takeaways From Instacart’s IPO Filing

By Cory Weinberg · Aug 25, 2023 2:30pm PDT · 4 comments

How is Instacart trying to ensure the first major initial public offering of a venture-backed company in more than 18 months goes smoothly? By getting support from some of its friends…and the Norwegian government. In the paperwork it filed Friday, Instacart named Pepsi, one of its major advertisers, as an investor that will buy $175... How is Instacart trying to ensure the first major initial public offering of a venture-backed...

Art by Clark Miller.

Subscriber Survey

The Brain-Body Investment Survey: What 500 Subscribers Are Spending to Boost Their Performance

By Annie Goldsmith · Aug 25, 2023 9:00am PDT · 9 comments

Silicon Valley has long been the haunting ground of the ultramarathon runner, the supplement stacker and the quantified selfer. But recently, tech leaders' passion for fitness and wellness hacks have spilled over into the mainstream. Blame the growing adoption of nutritional supplements, the dawning acceptance of... Silicon Valley has long been the haunting ground of the ultramarathon runner, the supplement...

The Companies Readers Think Will Go Public

The Companies Readers Think Will Go Public

By Akash Pasricha · Aug 25, 2023 8:00am PDT

The Companies Readers Think Will Go Public

The Companies Readers Think Will Go Public

By Akash Pasricha · Aug 25, 2023 8:00am PDT

The Information readers have heard the chatter about a coming wave of initial public offerings. In our monthly survey, more than 40% of the 660 respondents expected new listings to pick up this year, and almost 60% expected the pace to accelerate by the first half of 2024. Equally interesting is which companies respondents think will go... The Information readers have heard the chatter about a coming wave of initial public offerings....

Photo by Getty.

The IPO Window Is Open. But Are Founders Ready?

By Jessica Lessin · Aug 24, 2023 5:00pm PDT · 1 comment

Bankers are busy. IPO lawyers are hard to reach. It’s go time again for Silicon Valley IPOs. Arm, Instacart and Klaviyo are preparing their offerings, with filings from the last two expected tomorrow. Beauty company Oddity and restaurant brand Cava have gone out and are trading above their IPO prices. Companies are hiring chief financial... Bankers are busy. IPO lawyers are hard to reach. It’s go time again for Silicon Valley...

Photo by Getty.

Amazon in Talks With Disney About ESPN Streaming Partnership

By Sahil Patel · Aug 24, 2023 3:02pm PDT · 1 comment

Amazon has had early talks with Disney about working on the streaming version of ESPN it is developing, said people familiar with the matter. The tech giant could offer the service through one of its streaming offerings, helping to expand its distribution, while possibly also taking a minority stake in ESPN. Such an arrangement could shore up... Amazon has had early talks with Disney about working on the streaming version of ESPN it is...

Daniel Abas, the founder of Creators Guild of America. Photo: CGA

Creator Economy

A New Creator Labor Group Launches

By Kaya Yurieff · Aug 24, 2023 2:00pm PDT

The Hollywood strike has highlighted the lack of a similar labor movement within the creator economy, but new efforts to change that are emerging. The latest: the Creators Guild of America, a new group that aims to protect the rights and promote the interests of digital creators, launches Thursday. The nonprofit advocacy organization backed... The Hollywood strike has highlighted the lack of a similar labor movement within the creator...

SEC Chairman Gary Gensler. Photo by Getty

New SEC Rules Could Hurt VC’s Newcomers

By Kate Clark · Aug 24, 2023 12:50pm PDT

SEC Chairman Gary Gensler. Photo by Getty

New SEC Rules Could Hurt VC’s Newcomers

By Kate Clark · Aug 24, 2023 12:50pm PDT

The U.S. Securities and Exchange Commission approved new rules for private funds Wednesday meant to give limited partners—the individuals and institutions that invest in these funds—more transparency. The ramifications for the much larger private equity industry have drawn most of the attention, but venture capital funds will also need to bend... The U.S. Securities and Exchange Commission approved new rules for private funds Wednesday meant...