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

Brian Dammeir. Art by Adyen.

This Stripe Competitor Says the Future of Payments Is on the Phone

By Malique Morris · Jun 2, 2022 10:39am PDT · 1 comment

After a huge surge during the pandemic, growth in online shopping is slowing. Inflation and worries about a possible recession have cast a cloud over retail. Payments players sit at the intersection of these factors. “There was a catapult during Covid, and then there’s a normalization now,” said Brian Dammeir, president of... After a huge surge during the pandemic, growth in online shopping is slowing. Inflation and...

Art by Mike Sullivan

Democracy Deserves Better Algorithms

By Tara McGowan · Jun 2, 2022 9:00am PDT · 9 comments

Once again, Americans are approaching a nationwide election cycle, and with it the threat of election misinformation and disinformation spreading via social media. This is not the first time we’ve been here. In many ways, we’re still living with the mistakes of the last election—most especially social media’s role in ... Once again, Americans are approaching a nationwide election cycle, and with it the threat of...

Photo by iStock, Screengrabs of Viya (Taobao), Li Jiaqi (TikTok). Art by Haejin Park

Why China’s Influencers Are Losing Their Influence

By Juro Osawa and Shai Oster · Jun 2, 2022 6:00am PDT

China’s love affair with influencers is starting to cool. For years, the country’s internet users have been under the spell of online celebrities who promote all kinds of goods—makeup, automobiles, kitchen appliances—in livestreams, at times moving billions of dollars’ worth of merchandise in a single broadcast.... China’s love affair with influencers is starting to cool. For years, the country’s...

Facebook COO Sheryl Sandberg. Photo by Bloomberg

Sheryl Sandberg’s Long Goodbye; Back to the Office, or Else

By Laura Mandaro · Jun 1, 2022 6:51pm PDT

Facebook COO Sheryl Sandberg. Photo by Bloomberg

Sheryl Sandberg’s Long Goodbye; Back to the Office, or Else

By Laura Mandaro · Jun 1, 2022 6:51pm PDT

Publicly traded companies typically disclose big personnel announcements outside of normal trading hours, with the hope that investors will think twice before they trade. But not Meta Platforms. It rolled out a series of coordinated announcements on its top executives’ Facebook pages, alongside an interview with Bloomberg, about 30 minutes... Publicly traded companies typically disclose big personnel announcements outside of normal...

Art by Mike Sullivan

Why B2B Blockchain Startups May Fare Better in a Bear Market

By Akash Pasricha · Jun 1, 2022 4:11pm PDT

Stablecoins and decentralized finance have all dominated headlines in the past month. But ultimately, finance and payments still represent just one category of crypto startups. Founders are working on applying blockchain in several other ways, too. Stablecoins and decentralized finance have all dominated headlines in the past month. But...

From left, Facebook policy chief Nick Clegg, incoming Chief Operating Officer Javier Olivan, and outgoing COO Sheryl Sandberg. Photos by Bloomberg

What Sheryl Sandberg’s Replacements Are Up Against

By Sylvia Varnham O'Regan and Amir Efrati · Jun 1, 2022 3:43pm PDT

Inside Meta Platforms, employees for years have increasingly wondered when Sheryl Sandberg, the longtime chief operating officer in charge of its advertising business and many other functions, would decide to leave. On Wednesday, Sandberg announced she would be out by this fall, ending her 14-year run as the right hand of CEO Mark Zuckerberg and... Inside Meta Platforms, employees for years have increasingly wondered when Sheryl Sandberg, the...

Facebook employees and family members march during the 44th annual San Francisco Gay Pride parade Sunday, June 29, 2014, in San Francisco.

Creator Economy

How to Celebrate Pride Month Better; Sheryl Sandberg’s Exit Leads to Shakeup

By Mark Di Stefano · Jun 1, 2022 2:50pm PDT · 1 comment

Let’s start by wishing you all a Happy Pride Month! We’ve come a long way from rainbow-framed Facebook profile pictures to mark Pride, the months-long celebration of LGBTQ history and culture. But I’ve also noticed a backlash against supporting Pride from certain (loud) corners of the internet. This has got me thinking about whether there’s a... Let’s start by wishing you all a Happy Pride Month! We’ve come a long way from rainbow-framed...

An environment bult by BeardedEye using Eden. Credit: Tripp.

Tripp Raises Another $11 Million; Unity CEO's Metaverse Messaging

By Mathew Olson · Jun 1, 2022 11:15am PDT

An environment bult by BeardedEye using Eden. Credit: Tripp.

Tripp Raises Another $11 Million; Unity CEO's Metaverse Messaging

By Mathew Olson · Jun 1, 2022 11:15am PDT

Meditation and wellness platform Tripp is making a two-pronged announcement today, unveiling an $11.2 million extension to its Series A funding along with an acquisition of BeardedEye’s Eden, a VR-first world building tool. The addition of Eden to Tripp’s offerings—which already span AR, VR, web and mobile—could end up being the most important... Meditation and wellness platform Tripp is making a two-pronged announcement today, unveiling an...

The People With Power at Cisco Amid Revenue Crisis, Flagging Employee Morale

By Aaron Holmes · Jun 1, 2022 6:00am PDT

Cisco Systems, the biggest seller of networking hardware for data centers, has held up better than the vast majority of tech companies during the stock market downturn. But the company spooked the market after saying in May it has struggled to get its components out of China amid Covid-19 lockdowns there, and it projected revenue would shrink in... Cisco Systems, the biggest seller of networking hardware for data centers, has held up better...

A Cameo NFT event in Beverly Hills in February. Photo courtesy of Cameo

Startup Parties Are Warning Signs; Salesforce Stays Bullish

By Nick Wingfield · May 31, 2022 5:35pm PDT

We’re starting to sense a pattern. More evidence is piling up that throwing a lavish party or corporate offsite is one of the leading indicators that a tech startup is on the verge of a reckoning. The latest example: our story today about the recent struggles of Amazon aggregators, which opens with this detail about a retreat in Mexico that the... We’re starting to sense a pattern. More evidence is piling up that throwing a lavish party or...

Charts: Mike Sullivan

Creator Economy

The Charts Showing Creator Economy Investments This Year

By Kaya Yurieff · May 31, 2022 2:00pm PDT

Before we dive into today’s news, I wanted to draw your attention to some updates we made recently to The Information’s Creator Economy Database, which now counts more than 240 private companies, up from 50 when we launched it last summer. In our latest update to the database, we’ve added the charts above, which break down how much money... Before we dive into today’s news, I wanted to draw your attention to some updates we made...

The Galea headset. Credit: OpenBCI/Varjo.

OpenBCI Teams Up With Varjo on Biosensing VR Headset

By Mathew Olson · May 31, 2022 11:00am PDT

The Galea headset. Credit: OpenBCI/Varjo.

OpenBCI Teams Up With Varjo on Biosensing VR Headset

By Mathew Olson · May 31, 2022 11:00am PDT

This morning, neurotechnology startup OpenBCI announced a new partnership with premium headset maker Varjo. Galea, a long in-development headset finally seeing a limited commercial run, melds the latest in VR tech with a wide range of OpenBCI’s sensors.Galea is based on Varjo’s Aero headset, a newer entrant at the higher end of PC VR’s consumer... This morning, neurotechnology startup OpenBCI announced a new partnership with premium headset...

Art by Mike Sullivan

Inside the Perfect Storm Battering the Amazon Aggregator Ecosystem

By Mark Di Stefano · May 31, 2022 6:00am PDT · 9 comments

In early January, around 40 e-commerce entrepreneurs from around the world gathered in deluxe villas in Cabo, Mexico. They flew in on the invitation of Thrasio—the biggest aggregator of businesses that sell on Amazon’s marketplace. Though the four-year-old startup’s planned public debut via a special purpose acquisition company... In early January, around 40 e-commerce entrepreneurs from around the world gathered in deluxe...

The Byd Seal, part of its Ocean line of EVs.

The Electric: How Byd Became the Best-Selling Carmaker in China

By Steve LeVine · May 31, 2022 5:30am PDT

Today's column is from Dalibor Petkovic, a freelance researcher specializing in Chinese industrial policies. Since 2017, he has focused on the Chinese EV market, as well as smart cities, urban logistics and battery recycling management.Chinese automaker Byd in April became the first homegrown brand in 36 years to lead the nation in sales,... Today's column is from Dalibor Petkovic, a freelance researcher specializing in Chinese...

The Archer Maker eVTOL. Photo: Courtesy Archer

The Electric: Electric Air Taxis Are Coming, but Not How Backers Envision Them

By Steve LeVine · May 29, 2022 2:00pm PDT

Welcome back to The Electric!On Thursday: The most-consulted compendium of data on batteries and electric vehicles is the annual BloombergNEF New Energy Outlook. This week, BNEF will release its 2022 industry forecast. Right afterward, we will discuss it with Colin McKerracher, BNEF’s head of auto and transport analysis, who leads the analytical... Welcome back to The Electric!On Thursday: The most-consulted compendium of data on batteries and...

How Taylor Lorenz Became America's Most Polarizing Tech Reporter

How Taylor Lorenz Became America's Most Polarizing Tech Reporter

By Jon Steinberg · May 28, 2022 8:00am PDT

How Taylor Lorenz Became America's Most Polarizing Tech Reporter

How Taylor Lorenz Became America's Most Polarizing Tech Reporter

By Jon Steinberg · May 28, 2022 8:00am PDT

Hi, welcome to your Weekend! I wish I was writing you in happier circumstances, and could simply talk up Annie's riveting profile of Taylor Lorenz, below. But this has been a tragic week. The mass murder of 19 kids and their two teachers in Uvalde, Texas, has been on all of our minds. Unfortunately, the hopelessness you're probably... Hi, welcome to your Weekend! I wish I was writing you in happier circumstances, and could...

Photo Sheridan Clayborne. Art by Mike Sullivan.

The Child Prodigy Turned Founder Who Wants to Loan You Some 401(k) Cash

By Margaux MacColl · May 28, 2022 7:00am PDT · 8 comments

Sheridan Clayborne is used to being the youngest person in the room. He was 15 when he got into Northwestern University, 17 when he made his first million, and 19 when he landed a job at Dropbox. Now, at 22, he’s raised $24 million for his startup, Lendtable, which helps people fulfill their employer’s 401(k) matches. Founded in 2020, Lendtable... Sheridan Clayborne is used to being the youngest person in the room. He was 15 when he got into...

Golden State Warriors' Andrew Wiggins (22) and Miami Heat's P.J. Tucker (17) in a game in March. Photo by AP

An NBA Battle Could Fuel SF-Miami Feud

By Nick Wingfield · May 27, 2022 5:00pm PDT

It has been a rough week for national news, so please excuse us for a little diversionary counterprogramming on this Friday before the long Memorial Day weekend. Several of tech’s most important cities have a great showdown looming! On Thursday, San Francisco’s Golden State Warriors clinched their first NBA finals berth in three years after... It has been a rough week for national news, so please excuse us for a little diversionary...

Photo Bloomberg. Art by Clark Miller.

‘The Worst-Case Scenario Is That I Look Like an Idiot’: Aaron Levie Still Refuses to Swallow the Crypto Red Pill

By Adam Lashinsky · May 27, 2022 1:00pm PDT · 17 comments

“I think I’m just a very boring realist,” said Aaron Levie, CEO of Box, over a 44-minute Zoom call last Monday. He was talking about the yearslong crypto craze, which may have finally sobered up amid the market dives and token implosions of the last several weeks. Levie is one of the few leaders in tech who has consistently called BS on the... “I think I’m just a very boring realist,” said Aaron Levie, CEO of Box, over a 44-minute Zoom...

Art by Clark Miller

‘All Rippers and No Skippers’: How Taylor Lorenz Became Part of the Story

By Annie Goldsmith · May 27, 2022 12:00pm PDT · 11 comments

Art by Clark Miller

‘All Rippers and No Skippers’: How Taylor Lorenz Became Part of the Story

By Annie Goldsmith · May 27, 2022 12:00pm PDT · 11 comments

On May 18, The Washington Post published a breaking news story about the Biden administration’s newly created and promptly attacked Disinformation Governance Board. The board was to be led by researcher and author Nina Jankowicz, who, The Post reported, “has been subject to an unrelenting barrage of harassment and abuse while unchecked... On May 18, The Washington Post published a breaking news story about the Biden administration’s...