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

Christine Moy of Apollo Global Management said crypto valuations still have room to fall. Photo by Erin Beach.

WTF: Women in Tech, Media and Finance

Apollo’s Moy Says Crypto Startup Valuations Still Have Room to Fall

By Erin Woo · Sep 14, 2022 5:21pm PDT

Crypto startup valuations still have room to fall after getting “a little ridiculous,” said Christine Moy, head of digital assets for investment firm Apollo Global Management. “Valuations are more reasonable, but I think that the broader macroeconomic picture can still have a real downside impact on crypto,” Moy said in... Crypto startup valuations still have room to fall after getting “a little...

Photo by Bloomberg

Twilio Learns to Like ‘Profitable Growth’; Google’s Cuts

By Martin Peers · Sep 14, 2022 5:01pm PDT

This is the year of corporate mea culpas, there’s no doubt about it. Twilio, the enterprise software firm best known for its messaging product, became the latest to acknowledge the errors of its ways when it unveiled plans today to cut 11% of its workforce. Twilio, said CEO Jeff Lawson, grew “too fast” in the past couple of years. His words... This is the year of corporate mea culpas, there’s no doubt about it. Twilio, the enterprise...

Art by Mike Sullivan

For Crypto VCs, the Ethereum Merge Means Business As Usual

By Akash Pasricha · Sep 14, 2022 4:51pm PDT

In crypto land, everyone and their uncle is talking and tweeting about the Ethereum merge, the major software update slated to happen shortly after midnight tonight. (We fielded the most pressing technical questions about the merge in our August 24 newsletter.) Much of the chatter is nervous excitement—excitement because the protocol is expected... In crypto land, everyone and their uncle is talking and tweeting about the Ethereum merge, the...

Agnes Chu, President of Condé Nast Entertainment. Photo by Erin Beach.

Condé Nast Titles, the ‘OG Influencers,’ Are Evolving to Reach a TikTok Generation

By Mahira Dayal · Sep 14, 2022 3:31pm PDT

Agnes Chu, President of Condé Nast Entertainment. Photo by Erin Beach.

Creator Economy

Condé Nast Titles, the ‘OG Influencers,’ Are Evolving to Reach a TikTok Generation

By Mahira Dayal · Sep 14, 2022 3:31pm PDT

Condé Nast, the venerable media company behind Vogue, Wired and Vanity Fair, thinks a lot about reaching its Gen Z audience. That means connecting with them on TikTok, Instagram and YouTube, where a future generation increasingly turns to influencers rather than traditional media brands. “These influencers are providing an authority and... Condé Nast, the venerable media company behind Vogue, Wired and Vanity Fair, thinks a lot about...

Goli Sheikholeslami, CEO of Politico, speaks at the 2022 WTF Conference. Photo by Erin Beach.

WTF: Women in Tech, Media and Finance

Politico CEO Sees Slowdown; Conde’s Chu on TikTok Winning Video

By Paris Martineau and Arielle Pardes · Sep 14, 2022 11:20am PDT

Politico is feeling the impact of the market downturn in its ad business, said CEO Goli Sheikholeslami, a sign of how the slower economy is having a wide-ranging impact on companies that make money selling advertising. “We’ve definitely seen sort of a slowdown,” said Sheikholeslami in an interview for The Information’s... Politico is feeling the impact of the market downturn in its ad business, said CEO Goli...

Zoom CEO Eric Yuan. Photo by Bloomberg

Zoom Readies Email and Calendar Products to Defend Itself Against Microsoft, Google

By Kevin McLaughlin · Sep 14, 2022 6:00am PDT · 3 comments

Millions of people join online meetings using Zoom Video Communications’ app by clicking on appointment links from their digital calendars or email services run by Microsoft and Google. That represents a big vulnerability for Zoom as Microsoft and Google make it easier for customers to host virtual meetings through the two companies’... Millions of people join online meetings using Zoom Video Communications’ app by clicking on...

Photo by Getty Images.

Which Digital Ad Businesses Work—and Which Don’t

By Jessica E. Lessin · Sep 13, 2022 5:08pm PDT

Here’s a puzzle. The economy has tanked. The digital ad business is in chaos, with new regulations and technology that make tracking customers much harder. Ad budgets are getting slashed and everyone is…launching advertising businesses? Roblox, an online gaming platform, announced it’s doing so. Netflix is also prepping its high-profile... Here’s a puzzle. The economy has tanked. The digital ad business is in chaos, with new...

Brendan Gahan, partner and chief social officer at creative agency Mekanism. Photo: Courtesy of subject

Why Advertisers Should Treat Influencer Marketing Like Athlete Endorsements

By Kaya Yurieff · Sep 13, 2022 1:57pm PDT

Brendan Gahan, partner and chief social officer at creative agency Mekanism. Photo: Courtesy of subject

Creator Economy

Why Advertisers Should Treat Influencer Marketing Like Athlete Endorsements

By Kaya Yurieff · Sep 13, 2022 1:57pm PDT

In 2006, ad agency BuderEngel was about to turn down a client that wanted it to promote an MP3 player called Zvue because the client’s budget was too small for traditional advertising. Brendan Gahan, who was a recent college grad working for the agency, suggested they instead pay a popular YouTube channel called Smosh to promote the... In 2006, ad agency BuderEngel was about to turn down a client that wanted it to promote an MP3...

The Big Interview

Can Grindr’s New CEO Sell the Gay Sex App to Wall Street?

By Cory Weinberg · Sep 13, 2022 7:00am PDT

George Arison begins conversations about Grindr with euphemisms. While gay men largely use the app to find potential nearby sexual partners, Arison—who was announced as Grindr’s new CEO Tuesday—prefers to say that people use the app for “casual dating” and “casual encounters.” In fact, Arison says the... George Arison begins conversations about Grindr with euphemisms. While gay men largely use the...

Apple's Phil Schiller. Photo by Getty. Art by Mike Sullivan

For Apple’s App Boss, a New Battle Nears

By Wayne Ma · Sep 13, 2022 6:00am PDT · 1 comment

When Phil Schiller gave up his responsibilities overseeing Apple’s worldwide marketing two years ago, it seemed like one of the company’s most powerful executives was hanging up his spurs to become an emeritus figure at the company, as suggested by his scholarly-sounding new job title: Apple Fellow. But Schiller is still very much in... When Phil Schiller gave up his responsibilities overseeing Apple’s worldwide marketing two...

All photos courtesy of Doodles. Composite by Clark Miller

NFTs Are in Deep Freeze, But Doodles Just Defrosted $54 Million

By Abram Brown · Sep 13, 2022 5:00am PDT

The 155th day of the crypto winter dawned sunshiny and busy for Evan Keast last week. His hometown of Vancouver, British Columbia, was enveloped in a burst of late-summer warmth as he plotted the next moves for Doodles, his celebrity-beloved non-fungible token startup. “We’ve had one of our biweekly all-hands meetings, I’ve had my coffee, and I’... The 155th day of the crypto winter dawned sunshiny and busy for Evan Keast last week. His...

Photo by Bloomberg.

What Tech’s Growing Anti-TikTok Sentiment Reveals

By Martin Peers · Sep 12, 2022 5:00pm PDT

Photo by Bloomberg.

What Tech’s Growing Anti-TikTok Sentiment Reveals

By Martin Peers · Sep 12, 2022 5:00pm PDT

We’ve been hearing a lot lately about what Snap CEO Evan Spiegel didn’t anticipate. Last week, he told employees, according to The Verge, that he hadn’t anticipated the extent to which interest rates would rise (really?). Also last week, speaking at the Code conference, he said ”nobody” in the U.S. had anticipated ByteDance would spend billions... We’ve been hearing a lot lately about what Snap CEO Evan Spiegel didn’t anticipate. Last week, he...

Roblox CEO David Baszuki. Photo: Bloomberg. Art: Shane Burke

Creator Economy

Roblox’s New Ads Could Keep Creators Coding

By Mahira Dayal · Sep 12, 2022 3:09pm PDT

Roblox over the last few years has quietly become a significant source of creator earnings. More than 12 million of these game developers, many of them individuals, collectively generated $538.3 million in revenue last year. Still, like other online services that benefited from a huge boost of interest during the pandemic shutdowns, Roblox—and... Roblox over the last few years has quietly become a significant source of creator earnings. More...

Alphabet CEO Sundar Pichai in New Delhi, India in 2015. Photo by Bloomberg.

Google Plots Pixel Phone Assembly in India Amid China Lockdowns

By Wayne Ma · Sep 12, 2022 6:00am PDT

Google wants to move some of its most important consumer electronics production outside China amid the country’s Covid-19 lockdowns, which have disrupted the manufacturing and supply chains of many foreign brands, and as geopolitical tensions with the U.S. rise. To that end, Google has solicited bids from manufacturers in India to make... Google wants to move some of its most important consumer electronics production outside China...

On Saturday in Haiphong, Vietnam, VinFast unveiled the first electric vehicles it will deliver to the U.S. and Europe in the coming weeks. Photo: Yen Duong/Bloomberg

The Electric: Vietnam Has Made a Surprising EV—but it Will Have to Drop the Price

By Steve LeVine · Sep 11, 2022 2:00pm PDT

Thanks to The Electric community for the terrifically successful first-anniversary Live Chat with China expert Bob Galyen on Thursday. For those who missed it, we will post a recording here later this week.This week, we examine a new Asian electric vehicle aspirant in the West—not China, but Vietnam. VinFast plans to deliver its first electric... Thanks to The Electric community for the terrifically successful first-anniversary Live Chat with...

Photo Tux Pacific. Art by Clark Miller

How a Crypto Founder Went From Skeptical Mormon Teen to Transgender Anarchist Raver

By Margaux MacColl · Sep 10, 2022 7:00am PDT · 4 comments

Photo Tux Pacific. Art by Clark Miller

How a Crypto Founder Went From Skeptical Mormon Teen to Transgender Anarchist Raver

By Margaux MacColl · Sep 10, 2022 7:00am PDT · 4 comments

Tux Pacific dreams of anarchy. “We need to convince people to opt out of the current system of things,” they said. “We need to make the state powerless.” The founder of one-year old crypto company Entropy, Pacific (who uses they/them pronouns) is a rarity in Silicon Valley circles—and not just because they'retransgender. They’re also vocal about... Tux Pacific dreams of anarchy. “We need to convince people to opt out of the current system of...

Can a Facial Recognition AI Also Predict Personality?

Can a Facial Recognition AI Also Predict Personality?

By Jon Steinberg · Sep 10, 2022 7:00am PDT

Hi, welcome to your Weekend! Among the collection of poignant and powerful homages to Queen Elizabeth over the past few days was this silly non-sequitor from startup founder and investor Chris Bakke: "The Queen’s reign saw: 6 Popes14 US Presidents15 Prime ministers0 Profitable 15-minute grocery delivery companiesR.I.P."As... Hi, welcome to your Weekend! Among the collection of poignant and powerful homages to...

Nick Thompson at Web Summit 2021 in Lisbon, Portugal. Photo from Getty Images

Emerson Collective Backing New Project to Encourage Civil Online Conversation

By Jessica E. Lessin and Nick Wingfield · Sep 9, 2022 3:59pm PDT · 12 comments

Laurene Powell Jobs’s Emerson Collective is backing a new effort to encourage more civil conversation online, according to people familiar with the project. The project—which is in its early days—is being led by Nick Thompson, CEO of The Atlantic, and Raffi Krikorian, Emerson’s chief technology officer. The duo recently... Laurene Powell Jobs’s Emerson Collective is backing a new effort to encourage more civil...

A selfie of the author Zara Stone, overlaid with results from Perfect Corp.’s AI Personality Finder demo. Art by Clark Miller

The Secret Life of Selfies: How a Beauty Tech Startup Is Using AI to Match Faces With Products

By Zara Stone · Sep 9, 2022 12:00pm PDT

For years, Hannah Williams’ go-to selfie app has been YouCam Makeup. Before posting a self-portrait to Instagram, the 25-year-old cashier from Morgantown, W. Va., will run the shot through YouCam’s augmented reality filters to whiten her teeth, remove stray pimples and smooth her complexion. In recent months, she’s played around with the app’s... For years, Hannah Williams’ go-to selfie app has been YouCam Makeup. Before posting a...

Art by Clark Miller

ByteDance’s Baby Bump: Why Did the TikTok Parent Buy a Chain of Birthing Centers?

By Louise Matsakis · Sep 9, 2022 9:15am PDT · 2 comments

Art by Clark Miller

Asked and Answered

ByteDance’s Baby Bump: Why Did the TikTok Parent Buy a Chain of Birthing Centers?

By Louise Matsakis · Sep 9, 2022 9:15am PDT · 2 comments

ByteDance, the Chinese parent company of TikTok, made way for a new addition to the family last month, when it reportedly paid $1.5 billion to take control of one of the largest private hospital companies in China. Founded in 2006, Amcare Healthcare operates a chain of lavish birthing centers and women’s and children’s hospitals in major cities... ByteDance, the Chinese parent company of TikTok, made way for a new addition to the family last...