The Briefing by Martin Peers, Jessica Lessin and the team at The Information

Five times/week

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.

By providing your email, you agree to The Information’s Privacy Policy

Recent Editions

Art by Clark Miller and Mike Sullivan.

The Top 20 Tech-Themed Halloween Costumes of 2022

By The Information Staff · Oct 21, 2022 2:00pm PDT

Witches and werewolves: tired. Scary-mucci and Semafor: wired. It’s the spooky season, and here at The Information, we are pumpkin spice–pilled. This year’s Halloweenfestivities may be somewhat muted, what with tens of thousands of axed tech employees, terra coin investors, and 15-minute grocery delivery guys wandering the streets like the... Witches and werewolves: tired. Scary-mucci and Semafor: wired. It’s the spooky season, and here...

Art by Clark Miller

Follow the Money

Big Tech Moves (Slightly) to the Right: Employee Contributions Show Silicon Valley’s Growing Embrace of Conservatives

By Arielle Pardes and Shane Burke · Oct 21, 2022 12:19pm PDT · 10 comments

It’s not just Elon Musk who is tacking to the right. Employees of four big tech companies are directing a greater share of their midterm political contributions to conservative candidates than in the two previous election cycles. The Information’s analysis of political giving by employees of Google, Apple, Amazon and Meta shows that 15% of... It’s not just Elon Musk who is tacking to the right. Employees of four big tech companies are...

Cybereason co-founder and CEO, Lior Div. Photo by Bloomberg. Art by Mike Sullivan

$2.5 Billion–Valuation Security Firm Cybereason Hires JPMorgan to Find Buyer

By Kevin McLaughlin and Maria Heeter · Oct 21, 2022 11:12am PDT · 1 comment

Cybereason, a prominent Israeli security software firm valued at $2.5 billion by investors including Google, SoftBank and ex-Treasury Secretary Steve Mnuchin’s private equity firm, has hired JPMorgan Chase & Co. to find a buyer, according to a person with direct knowledge of the matter. The company considered going public earlier this... Cybereason, a prominent Israeli security software firm valued at $2.5 billion by investors...

Art by Clark Miller

Jeff Lawson’s Great Leap: Can the Twilio CEO Fix His Company and His Country at the Same Time?

By Abram Brown · Oct 21, 2022 9:00am PDT · 11 comments

Art by Clark Miller

Jeff Lawson’s Great Leap: Can the Twilio CEO Fix His Company and His Country at the Same Time?

By Abram Brown · Oct 21, 2022 9:00am PDT · 11 comments

One afternoon toward the end of September, Jeff Lawson’s household was turned upside down: Barack Obama was coming to visit. At their glassy, modernist home high above San Francisco’s Dolores Park, Lawson and his wife Erica shuffled around the furniture to make room for the former president and their three dozen other guests. Venture capitalist... One afternoon toward the end of September, Jeff Lawson’s household was turned upside down: Barack...

Microsoft competition attorney Rima Alaily. Art by Mike Sullivan

How a Microsoft Antitrust Attorney Keeps Its Mega-Acquisitions From Getting Killed

By Aaron Holmes · Oct 21, 2022 6:00am PDT · 2 comments

As head of Microsoft’s competition law group, Rima Alaily’s main job is to help close mergers at one of the world’s most acquisitive companies by shepherding them through sometimes sticky antitrust reviews. In early 2021, though, Alaily had a different goal: killing a deal. The team Alaily leads aimed to torpedo Nvidia’s... As head of Microsoft’s competition law group, Rima Alaily’s main job is to help close...

Photo by Bloomberg

Snap Delivers Downbeat Q4 Outlook

By Martin Peers · Oct 20, 2022 5:00pm PDT

Yes, folks, it seems the economy really is deteriorating. After weeks of downbeat economic forecasts—including from Amazon’s Jeff Bezos—Snap’s third-quarter earnings Thursday provided some specifics. Snap reported 6% revenue growth for the quarter—half the rate of the second quarter, and a fraction of the first-quarter growth rate. Snap had... Yes, folks, it seems the economy really is deteriorating. After weeks of downbeat economic...

Photo: Bloomberg

Creator Economy

Snap Needs Some Subscription Juice

By Mahira Dayal · Oct 20, 2022 4:47pm PDT

Snap’s earnings call had a standout message: The camera app needs to quickly find new ways to tap into its young, growing audience to revitalize revenue growth. One way to do this is by expanding beyond advertising and building a stronger subscription feature. But if Twitter's subscription feature Twitter Blue is any model, Snap has its work cut... Snap’s earnings call had a standout message: The camera app needs to quickly find new ways to tap...

Image of Sam Altman raising money, generated by OpenAI’s Dall·e 2

OpenAI, Valued at Nearly $20 Billion, in Advanced Talks with Microsoft For More Funding

By Aaron Holmes, Kate Clark, Erin Woo and Amir Efrati · Oct 20, 2022 1:47pm PDT · 6 comments

Image of Sam Altman raising money, generated by OpenAI’s Dall·e 2

OpenAI, Valued at Nearly $20 Billion, in Advanced Talks with Microsoft For More Funding

By Aaron Holmes, Kate Clark, Erin Woo and Amir Efrati · Oct 20, 2022 1:47pm PDT · 6 comments

OpenAI, whose text- and image-generating artificial intelligence has become a mainstream hit, is in advanced talks to raise more funding from Microsoft, which previously backed the startup with capital that includes credits to use Microsoft’s Azure cloud computing services to develop its technology, according to a person with knowledge of... OpenAI, whose text- and image-generating artificial intelligence has become a mainstream hit, is...

Art by Shane Burke

Why Too Much Dry Powder Is Bad

By Kate Clark · Oct 20, 2022 11:00am PDT

It’s time to address the downsides of the $290 billion mountain of cash raised by venture capitalists over the last few years.About a month ago, I wrote that this dry powder, as it’s referred to, would revive startup funding after what’s been a rather sleepy year for deals. I still believe that to be true. But recently, a top limited partner... It’s time to address the downsides of the $290 billion mountain of cash raised by venture...

Ali Ghodsi, co-founder and CEO of Databricks. Photo by Bloomberg.

Databricks Is Trimming Its Valuation While Other Startups Are Slashing Theirs

By Maria Heeter and Mark Matousek · Oct 20, 2022 6:00am PDT · 7 comments

Valuations for a crop of high-profile startups have been falling fast, even according to their own internal assessments. But one company has been notably restrained in revising its valuation: cloud-based database software startup Databricks. Databricks trimmed its internal share price this month, which lowered its implied valuation to $31... Valuations for a crop of high-profile startups have been falling fast, even according to their...

Photo by Shutterstock

The Logic of a Microsoft-Netflix Deal Is Growing

By Martin Peers · Oct 19, 2022 5:00pm PDT

If you watched Netflix’s quarterly earnings analyst call on Tuesday night, you might have caught an interesting comment from Chief Operating Officer Greg Peters. One of the main reasons Netflix picked Microsoft as the company to handle the tech side of its new advertising sales effort, Peters said, was that “we felt like we were highly... If you watched Netflix’s quarterly earnings analyst call on Tuesday night, you might have caught...

Grayscale CEO Michael Sonnenshein. Photo by Bloomberg

Inside The Bitcoin Mining Squeeze; Slow Start for Aptos

By Aidan Ryan · Oct 19, 2022 3:05pm PDT

Grayscale CEO Michael Sonnenshein. Photo by Bloomberg

Inside The Bitcoin Mining Squeeze; Slow Start for Aptos

By Aidan Ryan · Oct 19, 2022 3:05pm PDT

Until this year, much of the crypto world had been focused on profiting from the boom in crypto prices. Now, some big investors are looking for ways to make money from the crash. A 60% drop in bitcoin prices this year, along with the increasing difficulty of mining the cryptocurrency, has hurt miners—especially those that borrowed money to... Until this year, much of the crypto world had been focused on profiting from the boom in crypto...

Creator Jonathan Hyla. Photo courtesy of Jonathan Hyla.

Creator Economy

What to Expect from Snap Earnings; Q&A With A Filmmaker Building An Online Community for ADHD Creatives

By Kaya Yurieff · Oct 19, 2022 2:37pm PDT

Snap’s third-quarter financial results on Thursday will serve as a preview of how other internet companies are managing a pullback in ad spending and Apple’s disruptive privacy changes. Wall Street analysts see some signs of life, but warn that macroeconomic pressure persists. The Snapchat parent company and other tech companies are also... Snap’s third-quarter financial results on Thursday will serve as a preview of how other internet...

Stanford Management Company CEO Robert Wallace

The Big Interview

Stanford Wants a Bigger Piece of Silicon Valley’s Top VC Funds: Endowment Chief

By Kate Clark · Oct 19, 2022 10:32am PDT · 5 comments

Stanford University’s $37.8 billion endowment raked in nearly $1 billion from its venture capital portfolio’s bets on Airbnb and DoorDash after the startups went public in late 2020. Now it’s looking to increase its stake in the small number of elite VC funds responsible for those wins. But Stanford Management Company CEO... Stanford University’s $37.8 billion endowment raked in nearly $1 billion from its venture...

Elon Musk in front of a SpaceX rocket launch. Photos by Getty Images.

Elon Musk’s Management Style Is a Threat to Global Democracy

By Kate Klonick · Oct 19, 2022 9:00am PDT · 33 comments

Elon Musk’s management style is notoriously impulsive, toxic and cruel. Onetime employees describe being “tossed to the curb like a piece of litter,” the result of Musk’s “complete lack of loyalty or human connection.” This coldness hasn’t been reserved just for middle management or low-level workers. In... Elon Musk’s management style is notoriously impulsive, toxic and cruel. Onetime employees...

Photo by Shutterstock

TikTok Gains Ad Momentum as Meta Struggles

By Sylvia Varnham O'Regan · Oct 19, 2022 6:00am PDT

Photo by Shutterstock

TikTok Gains Ad Momentum as Meta Struggles

By Sylvia Varnham O'Regan · Oct 19, 2022 6:00am PDT

This spring, pet accessories company Wild One launched ad campaigns for a new dog toy—a rubber cylinder with a tennis ball wedged inside—on TikTok, Facebook and Instagram. The TikTok campaign, a time-lapse video of a dog trying to wrestle the tennis ball free, took off, according to Rose Mayo, vice president of growth at Wild... This spring, pet accessories company Wild One launched ad campaigns for a new dog toy—a...

Starboard Value CEO Jeffrey Smith. Photo by Bloomberg

Salesforce’s Wake-Up Call Was Long Overdue

By Akash Pasricha · Oct 18, 2022 5:00pm PDT

Jeffrey Smith might be just the jolt Salesforce needs. The CEO of Starboard Value told CNBC Tuesday that his activist investor hedge fund had taken a significant stake in Salesforce, noting that the cloud software company could do much better in the way of growth and profitability. Activists don’t always get things right, but in this case, Smith... Jeffrey Smith might be just the jolt Salesforce needs. The CEO of Starboard Value told CNBC...

ConvertKit CEO Nathan Barry. Photo: Henry Thong

Creator Economy

A Boot-Strapped Startup Vies With Mailchimp for Creator Dollars; YouTube Introduces Podcast Ads

By Kaya Yurieff · Oct 18, 2022 2:42pm PDT

When Instagram started to become popular more than a decade ago, many bloggers abandoned their personal websites to post on the photo-sharing app instead. Those blogs and mailing lists became in vogue again as creators looked for ways to connect more personally with fans. That meant a new market for the email marketing software services that... When Instagram started to become popular more than a decade ago, many bloggers abandoned their...

An iPhone 14 Plus at an Apple Store in Shanghai last week. Photo by Getty Images

Apple Cuts iPhone 14 Plus Production Less Than Two Weeks After Debut

By Wayne Ma · Oct 18, 2022 11:36am PDT

Apple is cutting production of the iPhone 14 Plus less than two weeks after its debut, according to two people involved in the company’s supply chain. Apple has told at least one manufacturer in China to immediately halt production of iPhone 14 Plus components while its procurement team reevaluates demand for the product, which Apple has... Apple is cutting production of the iPhone 14 Plus less than two weeks after its debut, according...

Art by Mike Sullivan

Facing Threat From Apple, Google Tries New Hardware Playbook

By Jon Victor and Amir Efrati · Oct 18, 2022 6:00am PDT · 4 comments

Art by Mike Sullivan

Facing Threat From Apple, Google Tries New Hardware Playbook

By Jon Victor and Amir Efrati · Oct 18, 2022 6:00am PDT · 4 comments

It may be Google’s worst nightmare. Apple’s iPhone is stealing share from Samsung phones powered by Google’s Android software. At the same time, U.S. antitrust regulators are scrutinizing Google’s search deal with Apple, raising the prospect that Google’s search may lose its favored position in the Safari browser on... It may be Google’s worst nightmare. Apple’s iPhone is stealing share from Samsung...