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 of Chris Dixon by Getty Images. Art by Mike Sullivan

Chris Dixon Keeps the Crypto Faith

By Cory Weinberg · Oct 11, 2022 6:00am PDT

This summer, venture capitalist Chris Dixon settled down for a dinner conversation about politics, startup investing and the economy with business and entertainment executive Michael Ovitz at Ovitz’s 28,000-square-foot Beverly Hills mansion. At one point, the conversation shifted to a topic Dixon knows intimately: cryptocurrency. ... This summer, venture capitalist Chris Dixon settled down for a dinner conversation about...

Photo by Bloomberg

What the Netflix-Disney Stock Price Gap Tells Us

By Martin Peers · Oct 10, 2022 5:00pm PDT · 1 comment

We’re barely a week away from the start of tech earnings season, when Netflix reports its third-quarter numbers. Investors are feeling bullish: Netflix shares have rallied 30% since mid-July, roughly when the company reported it had lost fewer subscribers in the second quarter than it had projected. That supposedly “better than expected” result... We’re barely a week away from the start of tech earnings season, when Netflix reports its...

Actor Malina Weissman at the Wonderland Dreams exhibit. Photo by Ruby June.

Creator Economy

Instagram-Worthy Pop-Ups Are Back; Injury at TwitchCon

By Kaya Yurieff · Oct 10, 2022 2:46pm PDT

Calling all Millennials. The Instagram-worthy art exhibit has returned. Pre-pandemic, and before the short-video wars, you may remember sites such as the interactive Museum of Ice Cream exhibit, with its giant pit of oversized plastic sprinkles—the perfect backdrop for snapping glossy photos for social media. Restaurants also upped their... Calling all Millennials. The Instagram-worthy art exhibit has returned. Pre-pandemic, and...

Roelof Botha, partner at Sequoia Capital, and Zhao Changpeng, founder of Binance. Photos by Getty Images and Bloomberg.

Sequoia Capital, Binance Stand By Equity Funding for Musk’s Twitter Takeover

By Erin Woo, Kate Clark and Aidan Ryan · Oct 10, 2022 12:28pm PDT

Roelof Botha, partner at Sequoia Capital, and Zhao Changpeng, founder of Binance. Photos by Getty Images and Bloomberg.

Sequoia Capital, Binance Stand By Equity Funding for Musk’s Twitter Takeover

By Erin Woo, Kate Clark and Aidan Ryan · Oct 10, 2022 12:28pm PDT

At least two major equity investors backing Elon Musk’s deal to buy Twitter plan to go ahead with their funding, as the billionaire moves toward closing the deal after dramatically reversing his position on it. Sequoia Capital, which has committed $800 million to the deal, plans to keep its funding in place, according to a person... At least two major equity investors backing Elon Musk’s deal to buy Twitter plan to go...

Jack Ma in Paris in 2019. Photo by Getty Images

Jack Ma’s Investment Firm Struggles to Raise Money in China

By Juro Osawa · Oct 10, 2022 6:00am PDT

Jack Ma, China’s most iconic entrepreneur, whose swift fall from grace with government authorities captivated the country and broader business world, has a new problem: Chinese investors are afraid to give him money. Yunfeng Capital, a private equity firm Ma co-founded in 2010, is having difficulty raising capital from domestic investors... Jack Ma, China’s most iconic entrepreneur, whose swift fall from grace with government...

Headquarters of Contemporary Amperex Technology Ltd., poised to remain the world's largest battery producer through the 2020s, in Ningde, China. Photo: Qilai Shen/Bloomberg

The Electric: The U.S. Is Ramping Up. China Is Ramping Up Faster

By Steve LeVine · Oct 9, 2022 2:00pm PDT

In recent months, the U.S. and Europe have taken enormous steps to eliminate China's near-monopoly on lithium-ion batteries, the strategic heart of electric vehicles, as the industry begins to take off. But this week we look at the reality that China's dominance of batteries is likely only to become greater by the end of the decade, and that... In recent months, the U.S. and Europe have taken enormous steps to eliminate China's...

What Us, Worry? Why Silicon Valley Seems Happy Again

What Us, Worry? Why Silicon Valley Seems Happy Again

By Jon Steinberg · Oct 8, 2022 7:00am PDT

Hi, welcome to your Weekend!The economic news may be nerve-wracking, but judging from the results of our nearly 1,000-subscriber survey, Silicon Valley seems to be taking the downturn in stride. In fact, large proportions of our readership appear pretty content with the new norms of post-pandemic professional life. This is a bit of a... Hi, welcome to your Weekend!The economic news may be nerve-wracking, but judging from the results...

Brian Armstrong in “Coin: A Founder’s Story.” Screenshot via YouTube.

The Coinbase Story Is Worthy of Cinema. The Film It Made for Itself Isn’t

By Margaux MacColl · Oct 8, 2022 6:00am PDT · 1 comment

Brian Armstrong in “Coin: A Founder’s Story.” Screenshot via YouTube.

The Coinbase Story Is Worthy of Cinema. The Film It Made for Itself Isn’t

By Margaux MacColl · Oct 8, 2022 6:00am PDT · 1 comment

“No one’s a villain here,” said executive coach Matt Mochary to Coinbase CEO Brian Armstrong in “Coin: A Founder’s Story.” And he’s right, at least for the 88-minute duration of the new Coinbase-produced documentary, which premiered Friday on Amazon, iTunes, YouTube and elsewhere. “Coin” is a story told entirely through Armstrong’s... “No one’s a villain here,” said executive coach Matt Mochary to Coinbase CEO Brian Armstrong in “...

Philippe Laffont. Photo by Bloomberg.

Two More Coatue Partners Have Departed

By Kate Clark · Oct 7, 2022 2:26pm PDT · 2 comments

Coatue Management general partners Luca Schmid and Sebastian Duesterhoeft, who helped lead its private tech investments, have left the New York-based firm, according to a person familiar with the matter. The partners are the latest senior exits from crossover funds, the firms with Wall Street roots that made big bets on startups during the past... Coatue Management general partners Luca Schmid and Sebastian Duesterhoeft, who helped lead its...

Katie Haun. Photo by Bloomberg

‘I’m Not Looking Where the Puck Is Right Now’: Katie Haun Picked an Awkward Time to Launch a Crypto Fund

By Adam Lashinsky · Oct 7, 2022 1:00pm PDT · 5 comments

Katie Haun has set up the offices of her new venture capital shop surprisingly close to her old one. Always security conscious from her time battling cybercriminals for the U.S. Department of Justice, Haun prefers to keep the precise location of her exceedingly well-funded Haun Ventures secret. Suffice it to say a skilled golfer at the nearby... Katie Haun has set up the offices of her new venture capital shop surprisingly close to her old...

Art by Clark Miller

‘Where Are the Women?’: Is Hybrid Work Widening Tech’s Gender Gap?

By Arielle Pardes · Oct 7, 2022 11:00am PDT · 2 comments

Earlier this year, identity software company Okta gave its employees a presentation on burnout. An invited speaker explained the warning signs and distributed a 43-question inventory to determine an employee’s individual risk for a “stress-induced breakdown.” Amanda Giannelli, an engineer at the company, already knew she was wiped—she was... Earlier this year, identity software company Okta gave its employees a presentation on burnout....

Art by Clark Miller

The Information’s Return to Office Wellness Check

By Annie Goldsmith, Jon Steinberg and Mike Sullivan · Oct 7, 2022 9:00am PDT · 2 comments

Art by Clark Miller

Subscriber Survey

The Information’s Return to Office Wellness Check

By Annie Goldsmith, Jon Steinberg and Mike Sullivan · Oct 7, 2022 9:00am PDT · 2 comments

Silicon Valley’s workers are logging more hours than they were in 2020—but on the whole, they’re also happier about it. In a survey of 923 subscribers to The Information, tech executives and employees report feeling more satisfied with their working situations and healthier overall than they were at the outset of the pandemic in 2020. A majority... Silicon Valley’s workers are logging more hours than they were in 2020—but on the whole, they’re...

Illustration by Shane Burke.

Investors Wary of Board Seats at Crypto Startups Due to Legal Risks

By Aidan Ryan and Cory Weinberg · Oct 7, 2022 6:04am PDT · 2 comments

As regulators take aim at cryptocurrency tokens, prominent crypto investors have taken unusual steps to insulate themselves: not seeking board seats at startups in hopes of avoiding liability. Investors’ lawyers are warning that members of token-issuing startup boards could potentially face big regulatory penalties or get sued if other... As regulators take aim at cryptocurrency tokens, prominent crypto investors have taken unusual...

TikTok CEO Shou Zi Chew. Photo by Bloomberg.

ByteDance’s Big Marketing Bill

By Jessica E. Lessin · Oct 6, 2022 5:00pm PDT

It turns out that viral tech phenomena are not so, well, viral. That was one of the big takeaways from ByteDance’s 2021 financials, reported today by The Wall Street Journal. ByteDance, which owns TikTok and a range of extraordinarily popular Chinese apps, lost more than $7 billion from its operations last year. One reason was heavy... It turns out that viral tech phenomena are not so, well, viral. That was one of the big takeaways...

Photo: Bloomberg

Creator Economy

TikTok Moves Into Hallowed Instagram Ground; Q&A with a ‘Bathroom Influencer’

By Mahira Dayal · Oct 6, 2022 3:38pm PDT

Once again, social media apps are introducing features that make them all look the same. The latest move comes from TikTok, which on Thursday introduced a photo mode that will allow users to share a cluster of photos in the short-form video app. The feature is a swipe at Instagram, the Meta Platforms app best known for its glossy photos.... Once again, social media apps are introducing features that make them all look the same. The...

Illustration by Matheus Costa

We Need an Individual Contributor Track for Founders

By Robert Lindsay · Oct 6, 2022 11:00am PDT · 5 comments

Illustration by Matheus Costa

We Need an Individual Contributor Track for Founders

By Robert Lindsay · Oct 6, 2022 11:00am PDT · 5 comments

Three and a half years ago, my startup was going downhill, and so was I. We were bleeding cash, struggling to break into new markets, and my habit of anxious fasting had shed 20 pounds from my already slender frame. After putting my daughter to bed, I would spend my weekday evenings in the bathtub, a temporary sanctuary from looming business... Three and a half years ago, my startup was going downhill, and so was I. We were bleeding cash,...

The People With Power Inside Robinhood

By Mark Matousek · Oct 6, 2022 7:00am PDT

When trading app Robinhood went public in the middle of last year, it was the poster child for a fintech success story: a fast-growing upstart that had disrupted the traditional brokerage model and gained a rabid following of young users. But after executive exits, a dramatic slowdown in revenue and two rounds of layoffs, the top ranks of... When trading app Robinhood went public in the middle of last year, it was the poster child for a...

Photo by Bloomberg

Forget Musk and Twitter—Microsoft’s Activision Deal Is Really What’s in Doubt

By Martin Peers · Oct 5, 2022 5:00pm PDT

If you had to bet on which of this year’s big tech acquisitions would fall apart, you might have thought the obvious choice was Twitter-Musk, at least before Tuesday’s news that Musk has reversed course and is willing to close. (And even now the completion of that deal isn’t certain.) But arguably a more likely candidate for deal implosion was... If you had to bet on which of this year’s big tech acquisitions would fall apart, you might have...

Photo by Axie Infinity

Why Blockchain Games Keep Flopping; Inside SBF’s Crypto Empire

By Aidan Ryan · Oct 5, 2022 4:07pm PDT

Crypto investors and executives often tout gaming as one of the best use cases for non-fungible tokens. On the surface that argument makes sense, because games encourage users to compete for NFT prizes or deck out their virtual avatars with NFT-based accessories. But where are all the blockchain gamers? Axie Infinity, one of the best known... Crypto investors and executives often tout gaming as one of the best use cases for non-fungible...

Social media consultant Matt Navarra. Photo Credit: Dan Taylor Photography

YouTube Cash May Trump ‘White Hot’ TikTok’s Hold Over Creators

By Kaya Yurieff · Oct 5, 2022 2:49pm PDT

Social media consultant Matt Navarra. Photo Credit: Dan Taylor Photography

Creator Economy

YouTube Cash May Trump ‘White Hot’ TikTok’s Hold Over Creators

By Kaya Yurieff · Oct 5, 2022 2:49pm PDT

Matt Navarra has built a Twitter following of nearly 140,000 people who come for his frequent updates on what’s happening in the world of social media, ranging from new features to news articles he finds interesting. This presence has made him a kind of meta-influencer, who both uses and reviews the features that help online performers or... Matt Navarra has built a Twitter following of nearly 140,000 people who come for his...