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

Photo by Erin Beach.

Creator Economy Summit

Announcing the Creator Economy Summit 2023 Masterclasses

By The Information · Apr 12, 2023 11:50am PDT

We’re excited to see everyone on April 20th at The Information's Creator Economy Summit. Our masterclass breakout sessions are an important part of the Summit. At this year’s event, we’ll have two sets of 45-minute breakout sessions. Here’s a preview of this year’s topics. Gen Z and the Creator Economy (1:30... We’re excited to see everyone on April 20th at The Information's Creator Economy...

Partner Content

Event Recap: What’s Next for Generative AI

By The Information Partnerships · Apr 12, 2023 11:02am PDT

In a recent panel hosted by The Information in partnership with Comcast NBCUniversal LIFT Labs, several experts took a look at where artificial intelligence is now and where it’s going. Amir Efrati, executive editor at the Information, acted as moderator. The panelists included AI experts from the worlds of customer support, technology,... In a recent panel hosted by The Information in partnership with Comcast NBCUniversal LIFT Labs,...

Pascal Gauthier (left), president of Ledger, and Eric Larcheveque, CEO of Ledger. Photo by Bloomberg

Crypto VC Funding Slows to a Crawl

By Aidan Ryan · Apr 12, 2023 9:00am PDT

It’s not just in your head—our deals section has been thinner as of late, and recent data on venture funding for crypto startups show why.Crypto and blockchain startups raised just $900 million in the first quarter, according to PitchBook data on announced deals, down 87% from the same period in 2022 and the smallest haul since the fourth... It’s not just in your head—our deals section has been thinner as of late, and recent data on...

Illustration by Matheus Costa.

Google, Meta Struggle to Figure Out Employee Reviews

By Mark Matousek · Apr 12, 2023 6:00am PDT · 3 comments

Illustration by Matheus Costa.

Google, Meta Struggle to Figure Out Employee Reviews

By Mark Matousek · Apr 12, 2023 6:00am PDT · 3 comments

Last year, Google cut the number of employee performance reviews it conducts annually from two to one, responding to complaints that twice-a-year reviews consumed too much time. In the new system, managers were asked to talk more casually—but more frequently, once a quarter—with their subordinates about their performance. And Google... Last year, Google cut the number of employee performance reviews it conducts annually from two to...

Photo by Shutterstock.

Cybersecurity Firm Zscaler Loses Coveted Spot in Gartner Ranking Due to ‘Sales Arrogance’

By Kevin McLaughlin · Apr 12, 2023 5:00am PDT · 4 comments

Competition between the two of the biggest cybersecurity firms selling software monitoring employee access to cloud applications and data is set to intensify after influential market research firm Gartner cut its ranking on the market leader, Zscaler. In a regular update about the best positioned firms, Gartner ranked privately held... Competition between the two of the biggest cybersecurity firms selling software monitoring...

Garry Tan, CEO of YC. Photo by Getty.

Here Comes the Startup Panic

By Jessica E. Lessin · Apr 11, 2023 5:00pm PDT

Tech startups and investors have had a tumultuous few months. There was the crypto meltdown, the collapse of Silicon Valley Bank and, before that, the overall economic fallout from the weak economy and hammering of tech stocks. And as the dust has settled, there’s a new vibe in the air: concern—even a little desperation. Tech startups and investors have had a tumultuous few months. There was the crypto meltdown, the...

DJ Diplo. Photo by Maria José Govea

Creator Economy

DJ Diplo on ChatGPT, TikTok and the ‘Letdown’ of Web3

By Kaya Yurieff · Apr 11, 2023 2:39pm PDT

When thousands of people gathered at Los Angeles’ historic Greek Theatre in early February to pay tribute to P-22, a mountain lion who became something of a viral hit as he roamed the Hollywood Hills neighborhood, the house music star Diplo delivered a eulogy to the crowd. He credits OpenAI’s ChatGPT for helping him write a remembrance tinged... When thousands of people gathered at Los Angeles’ historic Greek Theatre in early February to pay...

T. Rowe Marked Down Cross River Stake Ahead of Banking Sector Meltdown

By Michael Roddan · Apr 11, 2023 11:26am PDT · 1 comment

T. Rowe Marked Down Cross River Stake Ahead of Banking Sector Meltdown

By Michael Roddan · Apr 11, 2023 11:26am PDT · 1 comment

Venture-backed Cross River Bank, a key partner to companies including Affirm and Coinbase, rode the coattails of the crypto and fintech boom—as well as a pandemic-era government business lending program. Now, as both sectors struggle with the impact of rising interest rates, some are losing faith in Cross River’s potential. Mutual... Venture-backed Cross River Bank, a key partner to companies including Affirm and Coinbase, rode...

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...