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

A Netflix advertisement in New York earlier this year. Photo by Bloomberg

Hastings Said It Best: Netflix’s Quarter Was ‘Less Bad’

By Jessica E. Lessin · Jul 19, 2022 5:51pm PDT

Elon loses round one. On Tuesday, the billionaire was swiftly defeated in a tussle over the timing of a trial that will determine whether he should be forced to buy Twitter, with the judge greenlighting an October start date. That’s far sooner than Team Musk—which says it needs time to conduct discovery—wanted. Judge Kathaleen McCormick didn’t... Elon loses round one. On Tuesday, the billionaire was swiftly defeated in a tussle over the...

Meta Platforms CEO Mark Zuckerberg. Photo: AP

Creator Economy

Instagram Tests Map Features; Reddit Downvotes Subscriptions; Microsoft’s Social Network

By Mahira Dayal · Jul 19, 2022 3:44pm PDT · 1 comment

Loyal Creator Economy readers may recall a chart last year when we noted that all social networks are beginning to look the same. Today’s barrage of news shows that even companies like software maker Microsoft are adopting the most popular social features, like disappearing posts. And in yet another example of convergence, Instagram is taking a... Loyal Creator Economy readers may recall a chart last year when we noted that all social networks...

Clockwise from left to right, Michelle Zatlyn, Carolyn Everson, Emilie Choi, Greg Schwartz, Vanessa Pappas, Will Gaybrick, Jeetu Patel. Photos: Eóin Noonan/Collision via Sportsfile, Patrick T. Fallon, Anthony Kwan. Art by Clark Miller.

The Next CEOs: Executives Poised to Lead the Top Tech Companies

By The Information Staff · Jul 19, 2022 6:00am PDT · 2 comments

Call it the Great Rehiring. After a wave of resignations swept through the executive ranks of Meta Platforms, Amazon and other top tech companies, startups are starting to poach their current and former executives for the C-suite. We take a look at which executives are waiting in the wings to become the next CEO—of their current employer... Call it the Great Rehiring. After a wave of resignations swept through the executive ranks of...

TikTok creator Owen Holt. Photo: Nathan Tecson

Squarespace’s Creator Ambitions; TikTok Creator Owen Holt on Why He Loves Twitter

By Kaya Yurieff · Jul 18, 2022 2:40pm PDT

TikTok creator Owen Holt. Photo: Nathan Tecson

Creator Economy

Squarespace’s Creator Ambitions; TikTok Creator Owen Holt on Why He Loves Twitter

By Kaya Yurieff · Jul 18, 2022 2:40pm PDT

Squarespace, known for offering tools to customize and host sleek websites, has in recent years stepped up features appealing to internet performers, in addition to small businesses and individuals such as graphic designers. In late 2020, it rolled out a membership product that helps creators sell access to virtual courses, newsletters and... Squarespace, known for offering tools to customize and host sleek websites, has in recent years...

Art by Clark Miller.

In China, Apps Are Out—Infrastructure Is In

By Juro Osawa · Jul 18, 2022 9:27am PDT · 4 comments

Recently, in Shanghai’s gritty industrial district, venture capitalist Ian Goh put on a gas mask to observe robots pack exactly 40 kilograms of wheat flour into each bag. It was all part of his due diligence on a Chinese startup, Innotime, that makes packaging robots. In a hunt for new investment opportunities, Goh, who is a managing... Recently, in Shanghai’s gritty industrial district, venture capitalist Ian Goh put on a gas...

Former AWS CEO Andy Jassy, now Amazon's CEO, in 2019. Photo by Bloomberg

AWS Server Chip Becomes a Not-So-Secret Weapon Against Microsoft, Google

By Kevin McLaughlin · Jul 18, 2022 6:00am PDT · 11 comments

For the past decade, Amazon Web Services has maintained its edge over Microsoft and Google in selling cloud computing services by speeding up its technology and lowering prices. Over the next 10 years, a key advantage will be its Graviton microchips, which AWS developed in-house to power apps on the internet or to help customers train... For the past decade, Amazon Web Services has maintained its edge over Microsoft and Google in...

Much of Indonesia's nickel processing is conducted at Morowali Industrial Park on Sulawesi island. Photo: Dimas Ardian/Bloomberg

The Electric: Playing Unapologetic Hardball, Indonesia Creates a Global Battery Hub

By Steve LeVine · Jul 17, 2022 2:00pm PDT

Welcome back to The Electric! On Thursday: The auto and battery industries have been struck by a stark shortage of lithium and nickel, so how will they make enough lithium-ion batteries to meet anticipated demand for their electric vehicles? One option is a different kind of battery—such as a surprising one containing Prussian blue... Welcome back to The Electric! On Thursday: The auto and battery industries have been struck...

Where Did All the Vests Go?: Inside Venture Capital’s Summer Disappearance Act

Where Did All the Vests Go?: Inside Venture Capital’s Summer Disappearance Act

By Jon Steinberg · Jul 16, 2022 8:00am PDT

Where Did All the Vests Go?: Inside Venture Capital’s Summer Disappearance Act

Where Did All the Vests Go?: Inside Venture Capital’s Summer Disappearance Act

By Jon Steinberg · Jul 16, 2022 8:00am PDT

Hi, welcome to your Weekend! If you’re reading this from somewhere along the Mediterranean or the East End of Long Island, you’re apparently not alone. As my colleague Erin Woo reports in this week’s cover story, a sizable chunk of tech’s investing class has traded deal-chasing for chaise-lounging recently. While a summer slowdown is sort... Hi, welcome to your Weekend! If you’re reading this from somewhere along the Mediterranean...

Photo courtesy of Atoms. Art by Clark Miller

How an Invite and a Pivot Changed Everything for the Founders of Sneaker Brand Atoms

By Margaux MacColl · Jul 16, 2022 7:00am PDT · 3 comments

In 2015, when married founders Waqas Ali and Sidra Qasim arrived at Y Combinator, they weren’t yet fluent in English. The pair had traveled from Pakistan, where their handmade leather shoe business had become a viral sensation. But at Y Combinator’s famous Demo Day, they looked at all the rival entrepreneurs wearing fashionable sneakers, and... In 2015, when married founders Waqas Ali and Sidra Qasim arrived at Y Combinator, they weren’t...

Lulu Cheng Meservey. Art by Clark Miller.

‘The Truth Had Been Distorted Beyond Recognition’: Lulu Cheng Meservey on Joining the Activision Board and Defending Free Speech on Substack

By Adam Lashinsky · Jul 15, 2022 1:00pm PDT · 9 comments

Lulu Cheng Meservey isn’t your typical corporate flack. The Washington, D.C.-based head of communications for Substack, a digital newsletter platform, Meservey is brash and outspoken online—far more so than the company’s founders. Her pre-PR background included a short stint on Wall Street and working for one of former President Bill Clinton’s... Lulu Cheng Meservey isn’t your typical corporate flack. The Washington, D.C.-based head of...

Art by Clark Miller

‘If I Miss a Deal, It’s—Whatever’: Venture Investors Throw in the Beach Towel

By Erin Woo · Jul 15, 2022 12:00pm PDT · 8 comments

Jordan Levy joins the Zoom with black sunglasses on his head and a pool umbrella in the background. The 66-year-old Softbank Capital NY managing partner once founded an incubator focused on Buffalo, N.Y.’s startup ecosystem. This summer, though, he’s hanging out with his grandchildren in a different part of the Empire State: Sagaponack, a... Jordan Levy joins the Zoom with black sunglasses on his head and a pool umbrella in the...

Photo by AP.

What Comes After Big Tech’s Advertising Boom?

By Stephen Council · Jul 15, 2022 6:00am PDT · 2 comments

Photo by AP.

What Comes After Big Tech’s Advertising Boom?

By Stephen Council · Jul 15, 2022 6:00am PDT · 2 comments

Earnings season is fast approaching, and all eyes will be on how advertising businesses, under pressure from privacy changes and competition from fast-growing TikTok, are holding up amid a souring economic climate. A slowdown from last year’s blockbuster ad revenue growth is likely as companies tighten digital marketing budgets and the... Earnings season is fast approaching, and all eyes will be on how advertising businesses, under...

Netflix co-CEO Reed Hastings in 2019. Photo by Bloomberg

Why Netflix’s Microsoft Partnership May Not Be Enough

By Jessica E. Lessin · Jul 14, 2022 5:00pm PDT

Seems like another founder is reading The Information! Last week, we wrote about companies slashing their internal valuations to gain a recruiting edge. And now Stripe seems to have done just that. But don’t shed a tear for the payments company and its investors just yet: The valuation a company sets for employee compensation isn’t... Seems like another founder is reading The Information! Last week, we wrote about companies...

Ceartas CEO and founder Dan Purcell. Credit: Dan Purcell

Creator Economy

The Startup Scraping the Internet for Stolen Content; OpenSea Layoffs; LTK Inks Deal With Stripe

By Mahira Dayal · Jul 14, 2022 3:15pm PDT

Creators frequently find that other internet users have replicated their videos, photos and text without permission. Some people see this as an inconvenience, but the stakes are higher for creators who are harassed, threatened or demeaned when others misuse their photos or videos online.Ceartas, a startup that uses algorithms to search the... Creators frequently find that other internet users have replicated their videos, photos and text...

Art by Josh Brill.

VC Due Diligence Returns—With a Vengeance

By Kate Clark and Aaron Holmes · Jul 14, 2022 6:00am PDT · 1 comment

In June, the founders of Duplo, a Nigerian fintech company started last year, received some disappointing news. Insight Partners, a New York–based private equity and venture capital firm, in the spring had signed an offer to lead the company’s seed round, a step that would have cemented Duplo’s relationship with one of the... In June, the founders of Duplo, a Nigerian fintech company started last year, received some...

How China Outmaneuvered the West to Control the EV Battery Industry

How China Outmaneuvered the West to Control the EV Battery Industry

By Steve LeVine · Jul 14, 2022 4:00am PDT

How China Outmaneuvered the West to Control the EV Battery Industry

How China Outmaneuvered the West to Control the EV Battery Industry

By Steve LeVine · Jul 14, 2022 4:00am PDT

Next week: When we speak of batteries, we usually mean lithium-ion powered by nickel- or iron-led cathodes. But the yearslong metals shortage ahead of us means the industry must broaden its outlook beyond the usual metals. That's why I'm excited about the next Live Chat, in which I'll host Colin Wessells, CEO of Stanford spinoff Natron... Next week: When we speak of batteries, we usually mean lithium-ion powered by nickel- or...

Kyle Samani and Tushar Jain of Multicoin Capital (left). Samuel Harrison and Banafsheh Fathieh of Lightspeed Faction (right). Photos courtesy of companies.

Despite a Market Meltdown, the Crypto Winter in Venture May Be Short Lived

By Akash Pasricha · Jul 13, 2022 5:21pm PDT · 1 comment

Talking to crypto venture capitalists these days feels a bit like talking to hockey players on the car ride home from the last big tournament of the season. There was a lot of action in a really short period of time. The stands were full and everyone was watching. There were winners and there were losers. Now it’s summer and everyone’s resting... Talking to crypto venture capitalists these days feels a bit like talking to hockey players on...

A worker delivers packages on Amazon Prime Day in New York. Photo: Bloomberg.

Creator Economy

Amazon Live Shopping Melts in the Spotlight; Poop Emoji in Court

By Mark Di Stefano · Jul 13, 2022 3:33pm PDT

Happy Day Two of Prime Day, the mid-year firesale of products on Amazon.com where (nearly) everything must go! I hope you were able to pick up a little smartspeaker on sale, or your annual haul of cheap underwear and socks. This year’s sales event has taken on added importance as Amazon tries to shake off its witch’s brew of problems—high... Happy Day Two of Prime Day, the mid-year firesale of products on Amazon.com where (nearly)...

Art by Laurent Hrybyk

The U.S. Is Writing a New Digital Doctrine

By Karen Kornbluh · Jul 13, 2022 9:00am PDT · 1 comment

In its infancy, the commercial web was thought to be a much-needed competitor against the incumbent players in the telecommunications market—or rather it could be, but only if it could steer clear of strangling regulations. So the U.S. created a governance system with minimal state control, enshrining the right of free access within the... In its infancy, the commercial web was thought to be a much-needed competitor against the...

Miguel Fernandez. Photo courtesy of Capchase

The Bank of SaaS Has $400 Million More to Lend

By Maria Heeter · Jul 13, 2022 5:00am PDT · 7 comments

Miguel Fernandez. Photo courtesy of Capchase

The Bank of SaaS Has $400 Million More to Lend

By Maria Heeter · Jul 13, 2022 5:00am PDT · 7 comments

Investor enthusiasm for cloud-software companies may have cooled from its heyday last year. But some investors think there’s money to be made in lesser-known startups. Capchase, a New York–based company that lends to early-stage software startups, has raised $400 million in debt from lenders including i80 Group. The two-year-old... Investor enthusiasm for cloud-software companies may have cooled from its heyday last year. But...