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

Photo by Getty.

Creators Are Unlikely to Get the Collective Action They Deserve

By Jessica Lessin · May 9, 2023 5:00pm PDT · 2 comments

Before we get to today’s column, I must point you all to the news that ousted Fox host Tucker Carlson is planning to launch a show on Twitter—if he can first win a legal battle with Fox. You can read that great scoop here. The news reminds me of a column I wrote when Musk bought Twitter. I said he was doing it to become Rupert Murdoch. As... Before we get to today’s column, I must point you all to the news that ousted Fox host Tucker...

Safra Katz, CEO of Oracle, and Satya Nadella, CEO of Microsoft. Photos by Bloomberg

Microsoft and Oracle Discussed Sharing AI Servers to Solve Shortage

By Aaron Holmes and Anissa Gardizy · May 9, 2023 4:01pm PDT · 3 comments

Oracle and Microsoft recently discussed an unusual agreement to rent servers from each other if either company runs out of computing power for cloud customers that use large-scale artificial intelligence, according to a person with direct knowledge of the negotiations. A deal would help the two rival cloud providers meet surging demand for... Oracle and Microsoft recently discussed an unusual agreement to rent servers from each other if...

Uber and Lyft drivers rally to unionize in front of an Uber office in Saugus, Mass. on March 1. Photo by Bloomberg.

Creator Economy

The Gig Economy’s Lessons for Creator Unions

By Kaya Yurieff · May 9, 2023 3:06pm PDT

Creator economy workers are making another attempt at organizing, as the story I published earlier today details. The effort, dubbed Creator Project 1.0, is in the early stages, but aims to advocate for the rights, welfare and creative freedom of creators, according to organizing documents viewed by The Information. That got me thinking... Creator economy workers are making another attempt at organizing, as the story I published...

Summit Recap: The Creator CEO Panel

By The Information Partnerships · May 9, 2023 10:39am PDT

Partner Content

Summit Recap: The Creator CEO Panel

By The Information Partnerships · May 9, 2023 10:39am PDT

There’s a new financial power segment in town: content creators. But creators have a unique profile that’s currently underserved and distinct from those of other small businesses. Creators span all ages, are global by default, and need to be paid faster to create content at a viral speed—all of which opens up new opportunities... There’s a new financial power segment in town: content creators. But creators have a unique...

Art by Clark Miller.

TikTok Is Not the Enemy

By Tom Chavez · May 9, 2023 9:00am PDT · 9 comments

The tensions surrounding TikTok in the U.S. have been building for years, but lately they have reached a boiling point. More than half of all states have either partially or fully banned TikTok on government devices. The Biden administration gave the platform an ultimatum, demanding that ByteDance, the app’s Chinese owners, spin off their... The tensions surrounding TikTok in the U.S. have been building for years, but lately they have...

Wall Street’s Hiring Binge Turns Into Bloat

By Lauren Tara LaCapra · May 9, 2023 8:00am PDT · 1 comment

Morgan Stanley’s decision to cut roughly 5% of its staff, or 3,000 people, has drawn headlines as a sign of how banks are responding to the near-dead initial public offering and deal markets. But the cuts at Morgan Stanley, as at other banks, will only make a small dent in workforces that expanded sharply in the pandemic era. Between the... Morgan Stanley’s decision to cut roughly 5% of its staff, or 3,000 people, has drawn...

A customer taps into an Amazon Go store in Whittier, Calif on September 12, 2022. Photo by Orange County Register via Getty.

How Amazon’s Big Bet on ‘Just Walk Out’ Stumbled

By Theo Wayt · May 9, 2023 6:00am PDT · 13 comments

In 2020, Amazon went on a blitz offering up the grab-and-go cashierless technology behind its Amazon Go convenience stores to large retailers around the world. That included offering up the Just Walk Out technology to Woolworths, the largest retailer by revenue in Australia, according to a person with knowledge of the talks. And executives at... In 2020, Amazon went on a blitz offering up the grab-and-go cashierless technology behind its...

Photo by Getty.

As Hollywood Writers Strike, Momentum Grows for Creator Labor Movement

By Kaya Yurieff · May 9, 2023 4:00am PDT · 3 comments

Photo by Getty.

As Hollywood Writers Strike, Momentum Grows for Creator Labor Movement

By Kaya Yurieff · May 9, 2023 4:00am PDT · 3 comments

Creator economy workers are taking a fresh stab at labor organizing. A group of digital influencers and professionals who work with them has started an effort to push tech companies to increase creators’ compensation and take action on other issues, including unexplained removals of creators’ accounts from apps, according... Creator economy workers are taking a fresh stab at labor organizing. A group of digital...

Photo via Dish Network.

Old-School TV’s Woes Deepen

By Martin Peers · May 8, 2023 5:00pm PDT

The old-fashioned TV business is slowly but surely sliding into the ocean. Yes, folks, while we’ve been obsessing about the money TV companies are losing on streaming, the older businesses have been falling apart. Rates of cord cutting from cable and satellite worsened in the first quarter. Today’s report from Dish Network, a satellite TV... The old-fashioned TV business is slowly but surely sliding into the ocean. Yes, folks, while we’...

Personal finance expert Ramit Sethi. Photo: Chris Newhard

Creator Economy

The Personal Finance Blogger With His Own Netflix Show

By Kaya Yurieff · May 8, 2023 2:00pm PDT

Ramit Sethi started a website called “I Will Teach You To Be Rich” from his dorm room at Stanford University in 2004 to help teach his college friends about money. Now 40, he has a best-selling book of the same name, a podcast, 500,000 Instagram followers, and most recently, a new show on Netflix, which began streaming last month. In the... Ramit Sethi started a website called “I Will Teach You To Be Rich” from his dorm room at Stanford...

Partner Content

Summit Recap: Gen Z and the Creator Economy Panel

By The Information Partnerships · May 8, 2023 12:19pm PDT

The elder members of Gen Z are now 26 years old. That means they have considerable purchasing power—and they turn to their fellow Gen Z creators for product recommendations. How can brands tap into that power and meaningfully connect with young creators and their audiences? Annie Goldsmith, reporter for the The Information, sat down to... The elder members of Gen Z are now 26 years old. That means they have considerable purchasing...

Google and Microsoft’s Other AI Race: Server Chips

By Anissa Gardizy · May 8, 2023 7:00am PDT · 9 comments

Google and Microsoft’s Other AI Race: Server Chips

By Anissa Gardizy · May 8, 2023 7:00am PDT · 9 comments

Amazon, Microsoft and Google are known for their software, but now they are collectively spending billions of dollars to develop and produce microchips to power servers and artificial intelligence. As the companies’ AI and cloud rivalries grow, the chip projects are becoming a critical part of their strategy to reduce costs and win over... Amazon, Microsoft and Google are known for their software, but now they are collectively spending...

Photo by Getty

Small VCs May Struggle to Find New Lenders in Wake of Bank Collapses

By Michael Roddan and Kate Clark · May 8, 2023 6:00am PDT · 3 comments

Since the collapse of Silicon Valley Bank, Rocky Gor, the founder and CEO of Los Angeles–based loan marketplace Capx, has been approached by a handful of small venture capital firms with a problem: No one will lend to them. In the past, these VC firms relied on a specialized credit line offered by SVB and a handful of other banks,... Since the collapse of Silicon Valley Bank, Rocky Gor, the founder and CEO of Los...

Enovix Chair T.J. Rodgers. Photo: Courtesy Valeta Rodgers

The Electric: An Afternoon With Chip Tycoon T.J. Rodgers on His Latest Act—Batteries

By Steve LeVine · May 8, 2023 4:30am PDT

In the 1980s and 1990s, Silicon Valley revolved around semiconductors, and T.J. Rodgers stood out. The company he founded, Cypress Semiconductor, was relatively small, but a 1991 BusinessWeek cover story showcased him as “The Bad Boy of Silicon Valley,” and The New York Times declared him “Silicon Valley’s most flamboyant cowboy capitalist.”... In the 1980s and 1990s, Silicon Valley revolved around semiconductors, and T.J. Rodgers stood...

Art by Clark Miller

Into the Metaverse

Hands Up, This Is a (Virtual) Robbery!

By Lauren Tara LaCapra · May 6, 2023 7:00am PDT · 2 comments

Until late last year, Bank of America branch staffers would learn how to handle a potential stick-up through guidebooks and online videos. Today, tellers are immersed in a 3D virtual reality environment, in which a gunman aims a weapon at them or furtively hands them a threatening note demanding money. The bank measures tellers’ reactions... Until late last year, Bank of America branch staffers would learn how to handle a potential...

Taking Stock of Sequoia’s Miserable Year

Taking Stock of Sequoia’s Miserable Year

By Jon Steinberg · May 6, 2023 7:00am PDT

Taking Stock of Sequoia’s Miserable Year

Taking Stock of Sequoia’s Miserable Year

By Jon Steinberg · May 6, 2023 7:00am PDT

Hi, welcome to your Weekend.You won't find many venture investors who are shedding tears for Roelof Botha. As only the fourth person to lead Sequoia Capital over the past 51 years, Botha now occupies a seat at the very highest echelons of the trade. But despite his lofty perch, little has gone easy for Botha since he was handed the reins... Hi, welcome to your Weekend.You won't find many venture investors who are shedding tears for...

Art by Clark Miller.

Market Research

Hacking Mother’s Day: What Tech Leaders Are Buying the Moms in Their Lives

By Annie Goldsmith · May 6, 2023 6:01am PDT

Dallin Bills’ family has a very specific Mother’s Day ritual. The Battery Ventures principal and his three kids, ages 7, 5 and 1, cut out hearts from colorful construction paper. On each paper heart, the group writes down their favorite things about their mom, Kayla, such as “I like it when Mom swings me on the swing” and... Dallin Bills’ family has a very specific Mother’s Day ritual. The Battery Ventures...

A presentation at Amazon's NewFront Conference on May 1. Photo by Getty.

Amazon Plans to Generate Photos and Videos for Advertisers Using AI

By Theo Wayt · May 5, 2023 1:45pm PDT

Amazon is building a team to work on artificial intelligence tools that will generate photos and videos for merchants to use in advertising campaigns on its platform, a company spokesperson confirmed, efforts that could help diversify its ad business. Amazon's ad business has grown by double-digit percentages every quarter since Amazon... Amazon is building a team to work on artificial intelligence tools that will generate photos and...

Stills from Pizza Later's "Pepperoni Hug Spot" commercial, Kris Kashtanova's Burning Man video and Ammaar Reshi's World War II movie trailer—all created entirely with AI.

How AI Built This

Staring at the Black Hole Sun: Generative AI Artists Deconstruct Their Viral Videos

By Margaux MacColl · May 5, 2023 11:43am PDT · 4 comments

Will AI video kill the radio star? Judging from the surge of artificial intelligence–generated beer commercials and “Star Wars”–themed Wes Anderson trailers popping up on social feeds this week, it just might. The AI video onslaught began officially in late March, when Runway, an AI startup newly valued at $1.5 billion,... Will AI video kill the radio star? Judging from the surge of artificial...

Instacart CEO Fidji Simo. Photo by Bloomberg.

Instacart’s Growth Slowed in First Quarter

By Cory Weinberg · May 5, 2023 10:42am PDT · 3 comments

Instacart CEO Fidji Simo. Photo by Bloomberg.

Instacart’s Growth Slowed in First Quarter

By Cory Weinberg · May 5, 2023 10:42am PDT · 3 comments

Instacart has long primed itself for a much-watched public debut, keeping its regulatory filings up to date and improving profits. But one new factor may delay a public debut: a slowdown in growth. In the first quarter, Instacart saw its gross order volume grow between 5% and 10% compared to the same period last year, people briefed on the... Instacart has long primed itself for a much-watched public debut, keeping its regulatory filings...