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

Smrti Lab co-founders Wang Lusho (left) and Wang Bowen

China’s Top Angel Investors Pour $90 Million Into Crypto Hedge Fund, Betting on Recovery in Prices

By Shai Oster · Jul 29, 2022 6:00am PDT

The stomach-churning collapse of cryptocurrency tokens, savings accounts, and hedge fund Three Arrows Capital has wiped out fortunes just as the collapse of the Lehman Brothers investment bank did during the 2008 financial crisis. That means it’s the perfect time to buy cryptocurrencies, according to the founders of a young crypto... The stomach-churning collapse of cryptocurrency tokens, savings accounts, and hedge fund Three...

Apple CEO Tim Cook in June. Photo by Bloomberg

Apple and Amazon’s Not So Horrible Day

By Jessica E. Lessin · Jul 28, 2022 5:05pm PDT

Today was a big day of winners and losers in tech. Losers: a defensive Instagram that walked back a controversial redesign test only a day or so after defending it. (I guess the data jibed with the views of the Kardashians, who panned it.) And then there is Intel, a company that wins points for most honest reaction to a truly poor earnings... Today was a big day of winners and losers in tech. Losers: a defensive Instagram that walked back...

Adam Mosseri, Art: Mike Sullivan

Creator Economy

Instagram Pauses Changes to Feed After Week-Long Drama

By Mahira Dayal · Jul 28, 2022 2:00pm PDT

It’s been quite the week for Instagram. On Thursday, CEO Adam Mosseri said the app will reduce the number of recommended posts in users’ feeds and pause its test of TikTok-like full-screen photos and videos, Platformer reported. This comes after days of online skirmishes with mega-influencers over the recently invoked changes. Here’s a... It’s been quite the week for Instagram. On Thursday, CEO Adam Mosseri said the app will reduce...

A Byd showroom in Beijing. The company led all automakers in sales in China in the first half of 2022. Photo by Bloomberg

The Electric: Foreign Automakers Prepare to Challenge Chinese Brands on Their Home Turf

By Steve LeVine · Jul 28, 2022 11:37am PDT

A Byd showroom in Beijing. The company led all automakers in sales in China in the first half of 2022. Photo by Bloomberg

The Electric: Foreign Automakers Prepare to Challenge Chinese Brands on Their Home Turf

By Steve LeVine · Jul 28, 2022 11:37am PDT

Today's column is from Dalibor Petkovic, a 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 makers of electric vehicles are enjoying their best year for domestic sales in three years, as foreign EV... Today's column is from Dalibor Petkovic, a researcher specializing in Chinese industrial...

Clockwise from top-left: Keith Rabois; Mayor Francis Saurez; Lucy Guo; Animo Ventures founders Antonio Osio and Nico Berardi. Art by Mike Sullivan

After the Hype, Miami Startup Founders, Investors Aim to Show Substance of Tech Scene

By Kate Clark · Jul 28, 2022 6:00am PDT · 2 comments

When Mike Shebat needed seed funding for his startup last year, he went where the money was: a popular fitness studio called Barry’s Bootcamp in Wynwood, Miami’s arts district. Venture capitalist Keith Rabois, a denizen of Barry’s, told Shebat to meet him there after the entrepreneur contacted him over LinkedIn. During and... When Mike Shebat needed seed funding for his startup last year, he went where the money was: a...

SEC Chairman Gary Gensler and Coinbase CEO Brian Armstrong. Art by Mike Sullivan.

The SEC Has a Point, But So Does Coinbase

By Akash Pasricha · Jul 27, 2022 4:21pm PDT

If you follow crypto, you probably find yourself becoming an expert in a few different fields, depending on the day. One day you’re an engineer, the next day you’re an art enthusiast. Some weeks you’re a trader, and this week, you were likely a securities lawyer. It’s been a dizzying week of developments around Coinbase. Its stock has... If you follow crypto, you probably find yourself becoming an expert in a few different fields,...

Sequoia Capital leader Roelof Botha. Photo by Getty; art by Mike Sullivan

Sequoia Capital to Open New York Office, First U.S. Outpost Outside Silicon Valley

By Kate Clark · Jul 27, 2022 12:22pm PDT

Sequoia Capital, the Menlo Park, Calif.–based venture capital firm known for its early investments in Google and Instagram, plans to open an office in New York City, its first U.S. facility outside Silicon Valley, according to two people with direct knowledge of the matter. The move by Sequoia, the most prominent tech startup investor,... Sequoia Capital, the Menlo Park, Calif.–based venture capital firm known for its early...

Julie Wainwright, former CEO of The RealReal. Photo by Bloomberg, Art by Clark Miller

Inside The RealReal, Cost-Cutting Was a Tough Sell Even as Losses Mounted

By Malique Morris · Jul 27, 2022 6:00am PDT · 4 comments

Julie Wainwright, former CEO of The RealReal. Photo by Bloomberg, Art by Clark Miller

Inside The RealReal, Cost-Cutting Was a Tough Sell Even as Losses Mounted

By Malique Morris · Jul 27, 2022 6:00am PDT · 4 comments

Top executives at The RealReal have been promising a path to profitability to investors and analysts since the company went public in 2019. But the online consignment store for used luxury goods—from rare $57,000 Hermès crocodile handbags to $40 T-shirts—has been losing more and more money, in part because of its... Top executives at The RealReal have been promising a path to profitability to investors and...

Microsoft CEO Satya Nadella in May. Photo by Bloomberg

The Microsoft-Alphabet Misses That Didn’t Matter

By Jessica E. Lessin · Jul 26, 2022 5:49pm PDT

Two stalwarts of the tech sector—Microsoft and Google’s parent company Alphabet—found different ways to put lipstick on a pig with their financial results on Tuesday. Both companies whiffed on their financial results for the quarter ended June 30. But both of them ended up seeing their shares rise by roughly the same percentage in after-hours... Two stalwarts of the tech sector—Microsoft and Google’s parent company Alphabet—found different...

Launch House co-founders Brett Goldstein, Michael Houck and Jacob Peters (from left to right). Photo: Launch House

Creator Economy

Startup Accelerator Launch House’s New $10 Million Venture Fund; Instagram’s TikTok-Like Feed Draws Backlash

By Kaya Yurieff · Jul 26, 2022 2:00pm PDT

Launch House is a startup accelerator where—twist!—founders live together. Companies it’s incubated have gone on to raise venture capital elsewhere, and now Launch House is getting in the investment game with its own $10 million venture arm. House Capital (which launched quietly in January but hasn’t been reported on until now) has made... Launch House is a startup accelerator where—twist!—founders live together. Companies it’s...

Startups That Hired Rapidly Learn the Virtue of Slowing Down

By Mahira Dayal · Jul 26, 2022 12:50pm PDT · 4 comments

Sometimes slow and steady does win the race. Startups that raised a lot of money during the boom years—and avoided spending sprees—now look smart as venture funding dries up. One measure of whether startups will be able to outlast the current downturn is how many people they’ve hired relative to how much money they’ve... Sometimes slow and steady does win the race. Startups that raised a lot of money during the boom...

U.S. President Joe Biden. Photo by Bloomberg

Self-Driving Truck Upstarts Look to Offload China Businesses

By Juro Osawa · Jul 26, 2022 6:00am PDT · 1 comment

U.S. President Joe Biden. Photo by Bloomberg

Self-Driving Truck Upstarts Look to Offload China Businesses

By Juro Osawa · Jul 26, 2022 6:00am PDT · 1 comment

Executives of tech companies operating in both the U.S. and China are taking steps to break apart their businesses to avoid the kind of political and regulatory pressure facing TikTok and its Chinese parent, ByteDance. The latest example of U.S.-China corporate decoupling involves two developers of self-driving trucks, both founded in... Executives of tech companies operating in both the U.S. and China are taking steps to break apart...

Alex Hofmann, former North America president of Musical.ly, is now CEO of startup 9count. Photo: Alex Hofmann

Creator Economy

Former Musical.ly President on Where TikTok Is Going Next

By Kaya Yurieff · Jul 25, 2022 2:00pm PDT

In the early days of Musical.ly, leadership had frequent debates about whether to base the app on social relationships or on an “interest graph,” making it entertainment-focused, said Alex Hofmann, former North America president of Musical.ly, in an interview.Hofmann, who left Musical.ly a few months after ByteDance acquired the company in late... In the early days of Musical.ly, leadership had frequent debates about whether to base the app on...

Partner Content

Event Recap: Best Strategies for Making the Most of AI

By The Information Staff · Jul 25, 2022 1:30pm PDT

Last month, The Information and the Boston Consulting Group hosted a Women In Tech Leadership Summit on the topic of customers of the future. In one lively session, a group of experts discussed using the power of artificial intelligence for personalization. Here are some key takeaways: Expect projects to fail but keep trying. “The reality... Last month, The Information and the Boston Consulting Group hosted a Women In Tech Leadership...

Mike Sullivan

Can Netflix Win the Contest for Connected TV Ad Dollars?

By Andrew A. Rosen · Jul 25, 2022 9:19am PDT · 1 comment

PARQOR is part of The Information’s newsletter network. To receive it in your inbox every Monday, Wednesday and Friday, sign up here. During the company’s quarterly earnings presentation last Tuesday, Netflix co-CEO Reed Hastings modestly—and accurately—characterized the company’s second-quarter results as... PARQOR is part of The Information’s newsletter network. To receive it in your inbox every...

Art by Mike Sullivan.

IPOs Are a Year Away for Tech Startups, KKR Deal-Makers Say

By Maria Heeter · Jul 25, 2022 6:00am PDT · 1 comment

Art by Mike Sullivan.

IPOs Are a Year Away for Tech Startups, KKR Deal-Makers Say

By Maria Heeter · Jul 25, 2022 6:00am PDT · 1 comment

For tech startups that were eyeing going public this year, the market for initial public offerings has slammed shut—and the deal-makers looking to build out Kohlberg Kravis Roberts & Co.’s equity capital markets business don’t see that changing anytime soon. In fact, they see the IPO window opening for tech startups in the... For tech startups that were eyeing going public this year, the market for initial public...

Goodenough, seated, last Friday at his birthday celebration. Photo: Venkat Viswanathan

The Electric: The Battery Industry Threw a 100th Birthday Party For Its Father

By Steve LeVine · Jul 24, 2022 2:00pm PDT

In 1991, the first portable electronic device hit the market. It was a Sony hand-held video camera, and it was an immediate sensation. The secret behind the camera was a powerful new battery—lithium-ion. Since then, the battery and others like it have revolutionized how we live, enabling devices like the iPhone, laptops, ear buds, and of course... In 1991, the first portable electronic device hit the market. It was a Sony hand-held video...

Throwing a Wrench in TikTok's Creator Factory

Throwing a Wrench in TikTok's Creator Factory

By Jon Steinberg · Jul 23, 2022 8:00am PDT

Hi, welcome to your Weekend! “TikTok is really TV these days,” influencer marketing CEO Mae Karwowski told our own Kaya Yurieff in this week’s cover story. “You’re flipping channels as you’re watching TikTok. You’re looking to be entertained.”And how, besides scrolling ad nauseam, do The Information’s subscribers like to be entertained?... Hi, welcome to your Weekend! “TikTok is really TV these days,” influencer marketing CEO Mae...

Art by Clark Miller.

Screentime: How a Sexual Wellness CEO Uses Her Phone for Work and Play

By Annie Goldsmith · Jul 23, 2022 7:00am PDT

Alexandra Fine first made waves when she crowdfunded a vibrator on Kickstarter—the 2016 campaign was the platform’s first ever for a sex toy. But Fine’s company, Dame Products, has come a long way since those days, and now offers a cornucopia of sexual wellness products through stores including Sephora and Nordstrom. As for Fine’s personal phone... Alexandra Fine first made waves when she crowdfunded a vibrator on Kickstarter—the 2016 campaign...

Jay Carney, Amazon’s top public relations and public policy executive, is leaving for Airbnb. Photo: Bloomberg

Amazon PR Chief’s Exit Foretells Policy Shake-up

By Paris Martineau · Jul 22, 2022 5:02pm PDT · 1 comment

Jay Carney, Amazon’s top public relations and public policy executive, is leaving for Airbnb. Photo: Bloomberg

Amazon PR Chief’s Exit Foretells Policy Shake-up

By Paris Martineau · Jul 22, 2022 5:02pm PDT · 1 comment

The departure of Jay Carney, Amazon’s top public relations and public policy executive, has set off an executive reshuffling that could recalibrate Amazon’s policy priorities at a time when the company faces the most serious regulatory challenges in its 28-year history. CEO Andy Jassy is on the hunt for a new senior policy executive,... The departure of Jay Carney, Amazon’s top public relations and public policy executive, has...