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

Bob Chapek via Bloomberg

It’s Not Just Disney

By Andrew A. Rosen · Nov 22, 2022 9:00am PST · 16 comments

Parqor is part of The Information’s newsletter network. To receive it in your inbox every Monday, Wednesday and Friday, sign up here. I was putting the finishing touches on a different column when the surprise news of Robert Iger’s return to Disney broke. That column was contemplating whether any of the major public... Parqor is part of The Information’s newsletter network. To receive it in your inbox...

The People With Power at Patreon

By Paris Martineau · Nov 22, 2022 6:00am PST

A few years ago, Jack Conte, CEO of Patreon—a website that allows content creators to generate income from fans—penned an essay about how to attract diverse candidates for executive roles. “If your company is mostly men, make sure to have women on the interview team,” wrote Conte, who co-founded Patreon in 2013. Conte... A few years ago, Jack Conte, CEO of Patreon—a website that allows content creators to...

Photo by Bloomberg

Bob Iger Won’t Be Able to Solve Disney’s Biggest Problem

By Martin Peers · Nov 21, 2022 5:00pm PST · 1 comment

Here’s a question: If newly restored Disney CEO Bob Iger was such a brilliant executive, how is it possible that in 15 years in the top job he wasn’t able to groom a number two who could last? For all the hero worship that greeted Iger’s sudden return on Sunday night, particularly from investors, let’s not forget that Iger bears as much... Here’s a question: If newly restored Disney CEO Bob Iger was such a brilliant executive, how is...

James Currier. Photo: NFX

Why Artificial Intelligence Won’t Hurt Creators; How Much MrBeast Is Worth

By Mahira Dayal · Nov 21, 2022 2:00pm PST

James Currier. Photo: NFX

Creator Economy

Why Artificial Intelligence Won’t Hurt Creators; How Much MrBeast Is Worth

By Mahira Dayal · Nov 21, 2022 2:00pm PST

The Web3 hype has dulled and artificial intelligence is taking its place. AI has entered the mainstream and people are using it to create artwork or write novels, captions or marketing copy. For creators, AI could serve as a personal assistant to design their YouTube thumbnails or draft podcast scripts. But some worry that the new technology... The Web3 hype has dulled and artificial intelligence is taking its place. AI has entered the...

Sam Bankman-Fried. Photo by Bloomberg.

The Press Failure That Led to FTX

By Jessica E. Lessin · Nov 21, 2022 11:28am PST · 22 comments

As the crypto currency contagion spreads, there is a tough truth about the press’s role in the crisis that is becoming crystal clear. Reporters and editors (myself and The Information included) were so busy waxing on about all the things crypto companies were not doing that we failed to focus on the risks with what they were actually... As the crypto currency contagion spreads, there is a tough truth about the press’s role in...

Chart by Shane Burke

Laid-Off Tech Workers With Visas Face Deadline but Job Openings Remain

By Mark Matousek · Nov 21, 2022 9:01am PST

As recruiters fan out to try to grab the best workers Meta Platforms, Twitter, Amazon and other tech firms are laying off, one group of employees stands out as the easiest to hire: those on special visas who need to leave the U.S. if they don’t find another job in a few weeks. Tech companies for years have relied on people from overseas to... As recruiters fan out to try to grab the best workers Meta Platforms, Twitter, Amazon and other...

Google Cloud CEO Thomas Kurian and Alphabet CEO Sundar Pichai. Photos by Bloomberg. Art by Mike Sullivan

Google Cloud Considers Scrapping Sales Commissions Based on Deal Values

By Kevin McLaughlin · Nov 21, 2022 6:00am PST

To show investors that its cloud unit could compete with Amazon Web Services, Google in recent years signed billion-dollar, long-term deals with multinationals such as Deutsche Bank and Sabre. Google incentivized sales teams to nail those deals by basing a portion of their commissions on the value of the contracts—even if those customers... To show investors that its cloud unit could compete with Amazon Web Services, Google in recent...

Qichao Hu, CEO of Boston-based next-generation battery developer SES, which is in the race to qualify for lucrative U.S. tax credits. Photo: Courtesy SES

The Electric: The Climate Law Triggers a Race Among Next-Gen Battery Makers

By Steve LeVine · Nov 20, 2022 2:00pm PST

Qichao Hu, CEO of Boston-based next-generation battery developer SES, which is in the race to qualify for lucrative U.S. tax credits. Photo: Courtesy SES

The Electric: The Climate Law Triggers a Race Among Next-Gen Battery Makers

By Steve LeVine · Nov 20, 2022 2:00pm PST

Save the date: The Biden administration, armed with $125 billion in loans, grants and tax credits, is trying to nudge American entrepreneurs into creating a U.S. battery supply chain and reviving the nation as an industrial powerhouse. How is that going—and what exactly does the U.S. battery master plan look like? To discuss and get your... Save the date: The Biden administration, armed with $125 billion in loans, grants and tax...

A Is for Altman, B Is For Bravo: Looking Back at One Year of Weekends

A Is for Altman, B Is For Bravo: Looking Back at One Year of Weekends

By Jon Steinberg · Nov 19, 2022 7:00am PST

Hi, welcome to your Weekend!I remember when my kids each turned one—and the pride their mom and I felt in surviving that first joyous, exhausting year. We knew we had accomplished a lot—like learning how to sleep in two-hour increments—but also that we were still naifs. The following years were when the real tests would start. (The girls are 11... Hi, welcome to your Weekend!I remember when my kids each turned one—and the pride their mom and I...

Art by Clark Miller

Turning Water Into $700 Million: A Day in the Desert With Liquid Death Founder Mike Cessario

By Arielle Pardes · Nov 19, 2022 7:00am PST · 18 comments

Mike Cessario, co-founder and CEO of canned water company Liquid Death, arrived in Palm Desert, Calif., sporting a Slayer hoodie, designer stubble and the effortless chill of a movie star. He had driven from his home in Los Angeles to the Coachella Valley to give a talk about the meteoric rise of his brand at Summit Series—a 1,400-person... Mike Cessario, co-founder and CEO of canned water company Liquid Death, arrived in Palm Desert,...

Sam Bankman-Fried, second from right. Photo by Getty Images.

Bankman-Fried Spun His Spending Spree, and Investors Let It Slide

By Cory Weinberg · Nov 18, 2022 1:00pm PST · 5 comments

With the crypto industry in crisis this summer, some of FTX’s venture capital investors were starting to scratch their heads: Why was its CEO, Sam Bankman-Fried, spending so much money bailing out distressed crypto lenders and spraying cash at startups? The 30-year-old, hailed as the golden boy of crypto, told one of his investors... With the crypto industry in crisis this summer, some of FTX’s venture capital investors...

One Year of Weekends: Our Top Stories From a Very Eventful First Year

By The Information Staff · Nov 18, 2022 12:00pm PST · 2 comments

Anniversary Issue

One Year of Weekends: Our Top Stories From a Very Eventful First Year

By The Information Staff · Nov 18, 2022 12:00pm PST · 2 comments

When we launched the InformationWeekend one year ago, we couldn’t have predicted the dramatic twists and turns of the last 52 weeks—and especially not the last week. We promised, as Jon wrote in his first newsletter, to “bring you inside the lives and minds of the new arbiters of culture and technology.” And we think we’ve held up our end of the... When we launched the InformationWeekend one year ago, we couldn’t have predicted the dramatic...

Animation by Clark Miller

‘Incredible Alpha’: Orlando Bravo Wants to Buy Your Company

By Abram Brown · Nov 18, 2022 9:00am PST · 16 comments

A fierce squall struck Puerto Rico one Wednesday in late October, snarling roadways around San Juan and complicating the travel plans of Orlando Bravo, the founder and managing partner of $122 billion private equity firm Thoma Bravo. Bravo, a Puerto Rico native who spends about a quarter of his time on the island, needed to get from the capital... A fierce squall struck Puerto Rico one Wednesday in late October, snarling roadways around San...

Photo by Bloomberg. Art by Shane Burke

How FTX Peddled Risky Derivatives—and Let Its Own Traders Run Wild

By Akash Pasricha · Nov 18, 2022 6:00am PST · 6 comments

Since the stunning FTX collapse, investors in the company have been pushing the narrative that this was a business that looked rock-solid from the outside—so solid, they couldn’t possibly have predicted its downfall. But from day one, FTX offered deeply risky products that fell well outside the norm of typical financial risk—so... Since the stunning FTX collapse, investors in the company have been pushing the narrative that...

Photo by Bloomberg

The 3 Possible Reasons Silicon Valley Enabled SBF

By Jessica E. Lessin · Nov 17, 2022 5:00pm PST · 5 comments

Minutes after I last published a column questioning the role of FTX’s equity investors in the massive collapse and unwinding of the firm, my phone started ringing. “What were you thinking—listing us as an investor?” one caller said to me. The implication was that the investor had only a small stake—and shouldn’t be subject to scrutiny for their... Minutes after I last published a column questioning the role of FTX’s equity investors in the...

Art by Shane Burke / DALL E 2

Twitter Employees Worry Its Infrastructure Is Hanging by a Thread

By Becky Peterson and Aaron Holmes · Nov 17, 2022 3:52pm PST · 1 comment

Art by Shane Burke / DALL E 2

Twitter Employees Worry Its Infrastructure Is Hanging by a Thread

By Becky Peterson and Aaron Holmes · Nov 17, 2022 3:52pm PST · 1 comment

Inside what’s left of the technical teams that keep Twitter running, there’s an unlikely new source of anxiety: the FIFA World Cup. The soccer competition, which begins in Qatar this Sunday, is one of the most-watched media events on the globe, and like most sport events of its kind it is expected to bring with it an avalanche of... Inside what’s left of the technical teams that keep Twitter running, there’s an...

Art by Clark Miller.

Market Research

‘People Are Shocked at How Much Further They Can Go’: The Suped-Up Electric Wheels Silicon Valley Is Stockpiling

By Annie Goldsmith · Nov 17, 2022 3:38pm PST · 8 comments

Like fitness trackers and Pelotons, electric-powered bikes, boards and scooters are now a Silicon Valley mainstay—and one per family may no longer suffice. With the marketplace filling with new and highly specialized electric wheels, each serving a specific function, trip length or mood, it’s becoming increasingly common for households to... Like fitness trackers and Pelotons, electric-powered bikes, boards and scooters are now a Silicon...

Michael Mignano is a partner at Lightspeed. Photo: Lightspeed

Creator Economy

The Future of Podcasting Isn’t Just Audio; Taylor Swift and MrBeast Break Records

By Kaya Yurieff · Nov 17, 2022 1:57pm PST

Michael Mignano has spent the last eight years steeped in podcasting. The future of the medium, however, looks more like video, said the recently minted partner at Lightspeed Venture Partners. He says podcasters are increasingly recording video episodes because they are more engaging and valuable to advertisers. Video clips can also... Michael Mignano has spent the last eight years steeped in podcasting. The future of the medium,...

VW will continue to produce the electric Porsche Taycan, but may no longer make it a goal to overtake Tesla. Photo: Krisztian Bocsi/Bloomberg

The Electric: Volkswagen Suggests It Is No Longer Pursuing Tesla

By Steve LeVine · Nov 17, 2022 1:56pm PST

Volkswagen may be acknowledging what no other major automaker has done so far—that it stands little chance of catching up to Tesla anytime soon.Most of the auto industry continues to barrel forward with headlong construction of electric vehicle and battery plants, often in the name of competing with Tesla. But in reports Thursday, VW was said to... Volkswagen may be acknowledging what no other major automaker has done so far—that it stands...

Elon Musk. Photo by Getty

Elon Musk Softens Twitter’s Remote Work Stance

By Erin Woo · Nov 17, 2022 1:17pm PST

Elon Musk. Photo by Getty

Elon Musk Softens Twitter’s Remote Work Stance

By Erin Woo · Nov 17, 2022 1:17pm PST

Even before Elon Musk’s deadline passes for employees to commit to an “extremely hardcore” fully in-office work schedule, he softened his stance on remote work, in a possible sign he is concerned too many people will quit Twitter. Musk emailed employees on Thursday saying that employees can get approval to work remotely if... Even before Elon Musk’s deadline passes for employees to commit to an “extremely...