The Briefing by Martin Peers, Jessica Lessin and the team at The Information

Five times/week

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.

By providing your email, you agree to The Information’s Privacy Policy

Recent Editions

Art by Mike Sullivan.

Nina Jankowicz Wishes She Didn’t Have to Write ‘How to Be a Woman Online’

By Jillian Goodman · Apr 22, 2022 12:00pm PDT

This is10 Questions,a column in which we ask tech authors to pull back the covers on their recently released books. Interviews have been edited and condensed for clarity. Nina Jankowicz may be a former adviser to the Ukrainian government and a global fellow at the Wilson Center working on counter-disinformation programs for the Department of... This is10 Questions,a column in which we ask tech authors to pull back the covers on their...

A pair of Beats Solo headphones as seen by a Lumafield CT scanner.
Art by Mike Sullivan.

What’s Inside Those Beats Headphones? A Startup Gives Product Manufacturers X-Ray Vision

By Stephen Nellis · Apr 22, 2022 12:00pm PDT

Modern running shoes are marvels of technology. In the case of Waltham, Mass.-based footwear company Saucony, that means inserting a carbon fiber plate inside the footbed to provide springiness, implanting advanced foams in the midsoles to give back 90% of the energy a runner puts in, and minutely altering the curvature of a shoe’s sole... Modern running shoes are marvels of technology. In the case of Waltham, Mass.-based footwear...

Photos by Bloomberg. Art by Mike Sullivan.

Netflix’s Best Advertising Bet Won’t Require Software

By Andrew A. Rosen · Apr 22, 2022 9:00am PDT · 7 comments

PARQOR is part of The Information’s newsletter network. To receive it in your inbox every Monday, Wednesday and Friday, sign up here. Let’s start with a controversial take: Netflix won’t pivot to a Hulu- or YouTube-like ad-supported model. That is to say, it will find additional revenue in ads, but not with the type... PARQOR is part of The Information’s newsletter network. To receive it in your inbox every...

Illustration by Josh Brill

Tech IPO Market Shows Signs of Life—But Don’t Expect Insane Valuations

By Berber Jin · Apr 22, 2022 6:00am PDT · 1 comment

Illustration by Josh Brill

Tech IPO Market Shows Signs of Life—But Don’t Expect Insane Valuations

By Berber Jin · Apr 22, 2022 6:00am PDT · 1 comment

After a near shutdown in the market for initial public offerings, some tech companies are gearing up for new listings in the next few months. But they’re also coming to terms with valuations likely to be more muted than the ones during last year’s red-hot IPO market, bankers who work on such deals say. One of the first out of the... After a near shutdown in the market for initial public offerings, some tech companies are gearing...

Screenshot of Evan Spiegel via YouTube

Creator Economy

Snap Tests Ads on Spotlight; Q&A With TikToker Kallmekris

By Mahira Dayal · Apr 21, 2022 5:14pm PDT

Snap’s warning that global economic problems are tripping up its business largely overshadowed the rest of its first-quarter results, including a healthy jump in users. But the accompanying call with investors did include an update on its creator products that’s worth noting, especially since they could make its Snapchat app a more fierce rival... Snap’s warning that global economic problems are tripping up its business largely overshadowed...

Evan Spiegel. Photo by Bloomberg.

Snap’s Downbeat Q2 Outlook; Elon Musk’s Twitter “Financing”

By Martin Peers · Apr 21, 2022 5:00pm PDT

Well, next week is shaping up to be grim, at least when it comes to big tech earnings reports. Snap kicked off the digital ad sector’s first-quarter report today with what looked like a solid result of 38% higher revenue than a year earlier. But Snap executives rained on their own party with a relatively gloomy projection of just 20% to 25%... Well, next week is shaping up to be grim, at least when it comes to big tech earnings reports....

Sarah Levy, Mary-Catherine Lader, Tegan Kline, Christine Moy. Photo courtesy of speakers. Art by Mike Sullivan.

Key Crypto Takeaways from The Information’s Women in Fintech Summit

By Akash Pasricha · Apr 21, 2022 4:17pm PDT

On Thursday, The Information hosted a day-long fintech summit as part of our Women in Tech Leadership Forum. Crypto and blockchain were hot topics of discussion, with executives talking about everything from how to get a job at a blockchain startup to the big opportunities at the intersection of crypto and automated investing. Here are four... On Thursday, The Information hosted a day-long fintech summit as part of our Women in Tech...

A Netflix sign in New York. Photo by Bloomberg.

Before Netflix About-Face on Advertising, Months of Debate

By Jessica Toonkel · Apr 21, 2022 12:34pm PDT · 3 comments

A Netflix sign in New York. Photo by Bloomberg.

Before Netflix About-Face on Advertising, Months of Debate

By Jessica Toonkel · Apr 21, 2022 12:34pm PDT · 3 comments

When Netflix co-CEO Reed Hastings interrupted a colleague on Tuesday’s quarterly earnings call to reveal plans for an ad-supported tier, it wasn’t only analysts and investors who were taken by surprise. Earlier this week, Netflix executives indicated to staffers no decision had yet been made on the advertising move, which had been... When Netflix co-CEO Reed Hastings interrupted a colleague on Tuesday’s quarterly earnings...

Snap CEO Evan Spiegel at Google's Pixel 6 phone event last year. Photo: Bloomberg.

A Big Week Ahead for Snap; Epic Invests More in 3D Scanning

By Mathew Olson · Apr 21, 2022 11:00am PDT

Snap will report its first quarter results later today. As my colleague Kaya Yurieff laid out in her latest Creator Economy newsletter, Snap’s ads strength and the performance of its TikTok clone are the big questions looming over today’s financials, but do also pay close attention to any new AR stats CEO Evan Spiegel touts. They may give an... Snap will report its first quarter results later today. As my colleague Kaya Yurieff laid out in...

Tech Pay Rundown: Snap Surges While Netflix Sinks

By Mark Matousek · Apr 21, 2022 6:04am PDT · 1 comment

Tech workers saw their paychecks swell last year as their employers became increasingly desperate to hire and retain them, but the gains were unevenly distributed. Take Snap and Netflix. The median salary at the social media firm increased 28% last year, an analysis of company disclosures shows. But at the streaming giant, median pay actually... Tech workers saw their paychecks swell last year as their employers became increasingly desperate...

Crusoe Energy co-founders Cully Cavness, left, and Chase Lochmiller, right. (Photo courtesy of Crusoe Energy. Art by Mike Sullivan.)

Crusoe Energy Valued at $1.75 Billion For Clean Bitcoin Mining

By Akash Pasricha · Apr 20, 2022 5:48pm PDT

One of the biggest critiques of crypto is the energy consumption of digital assets. Bitcoin mining, the process by which computers solve complicated mathematical puzzles to keep the blockchain running, uses more energy than some small countries. Crusoe Energy is one of a handful of startups offering a greener alternative.The Denver company,... One of the biggest critiques of crypto is the energy consumption of digital assets. Bitcoin...

A Netflix office in Los Angeles. Photo by Bloomberg.

Netflix Is Now Just Another TV Firm in Wall Street’s Eyes

By Martin Peers · Apr 20, 2022 5:03pm PDT · 1 comment

A Netflix office in Los Angeles. Photo by Bloomberg.

Netflix Is Now Just Another TV Firm in Wall Street’s Eyes

By Martin Peers · Apr 20, 2022 5:03pm PDT · 1 comment

What goes around, comes around. Netflix’s stunning 35% collapse on the stock market today should be a lesson to investors in all high-flying companies (I’m thinking of you, Tesla shareholders). The same investors who rush in helter-skelter while a business is expanding, happily paying any price, rush right back out again as soon as growth comes... What goes around, comes around. Netflix’s stunning 35% collapse on the stock market today should...

A monitor with Snap Inc. signage on the floor of the New York Stock Exchange. Photo by Bloomberg

Creator Economy

Snap Results to Reveal Apple, TikTok Impact; 200 Million Creators, Many Just Scraping By

By Kaya Yurieff · Apr 20, 2022 2:14pm PDT

Snap on Thursday kicks off quarterly results for big social media companies. These results will give an early window into how digital advertising-driven companies are navigating the continued fallout from Apple privacy changes. Snap’s results should also reveal how its TikTok competitor Spotlight is faring. First, look for a read on the... Snap on Thursday kicks off quarterly results for big social media companies. These results will...

A VR catching exercise in NFL Pro Era. Credit: StatusPRO.

Quest’s Sequel Deluge; How the NFL’s First VR Game Will Work

By Mathew Olson · Apr 20, 2022 11:01am PDT

Meta Platforms’ second annual Gaming Showcase for the Quest today may have eased off on the company’s metaverse talk, but it also left VR gamers with little to get excited about. Just as with last year’s showcase, the event’s lineup was still quite small compared to the similar, jam-packed shows that Nintendo, Microsoft and Sony put on every few... Meta Platforms’ second annual Gaming Showcase for the Quest today may have eased off on the...

Photos by Bloomberg.

Amid Ad-mageddon, Shopify and Facebook Butt Heads Over Data

By Mark Di Stefano, Malique Morris and Sylvia Varnham O'Regan · Apr 20, 2022 6:47am PDT

For years, a rumor swirled inside Shopify that Meta Platforms, formerly known as Facebook, was looking to buy the Canadian e-commerce giant. Nothing ever materialized—and regulatory scrutiny on the social media giant’s deals makes it seem likely nothing ever will—but the mere fact that the chatter persisted highlights how... For years, a rumor swirled inside Shopify that Meta Platforms, formerly known as Facebook, was...

If you want 300 miles of range in your new electric Ford-150 Lightning Lariat, prices start at $77,000. The first deliveries are next week. Photo: Michael Nagle/Bloomberg

There May Be a Limit to Demand for EVs After All

By Steve LeVine · Apr 20, 2022 4:30am PDT

If you want 300 miles of range in your new electric Ford-150 Lightning Lariat, prices start at $77,000. The first deliveries are next week. Photo: Michael Nagle/Bloomberg

There May Be a Limit to Demand for EVs After All

By Steve LeVine · Apr 20, 2022 4:30am PDT

The Electric's coverage is expanding. Starting this week, we will feature one or two additional pieces during the week, including coverage of the Chinese battery and electric vehicle industry. This is on top of The Electric Quarterly, which launched last month. As always, I love to hear any suggestions, comments, or tips. Just email... The Electric's coverage is expanding. Starting this week, we will feature one or two additional...

Former Twitter CEO Jack Dorsey in 2021. Photo by Bloomberg

Jack Dorsey’s Discord With His Hand-Picked Twitter Board Could Boost Musk

By Amir Efrati · Apr 19, 2022 6:08pm PDT · 4 comments

In the battle over Twitter, one wild card is Elon Musk, who bought a 9% stake and is now trying to buy the company. The other is Jack Dorsey, Twitter’s enigmatic co-founder and former CEO. Last week Twitter’s 11-member board of directors, which includes Dorsey, appeared to present a unified front in opposing Musk’s $43 billion... In the battle over Twitter, one wild card is Elon Musk, who bought a 9% stake and is now trying...

Photo by Shutterstock

Robinhood May Be Too Late Entering Europe; Blockchain.com Considers IPO

By Akash Pasricha · Apr 19, 2022 6:01pm PDT

If at first you do not expand, try, try again. Robinhood, which scrapped plans to expand in the U.K. in 2020, is betting its acquisition of U.K. crypto-investing platform Ziglu will help kickstart its international expansion. But Robinhood now will be fighting for share in a far more crowded European market for stock and crypto trading than it... If at first you do not expand, try, try again. Robinhood, which scrapped plans to expand in the...

Reed Hastings. Photo by Bloomberg.

Netflix’s Reed Hastings Bows to Advertising Reality

By Martin Peers · Apr 19, 2022 5:00pm PDT · 1 comment

Hell has frozen over. Netflix co-CEO Reed Hastings’ revelation tonight that he is willing to introduce a lower-priced tier of service supported by commercials is a ground-shaking strategic shift for the video-streaming pioneer. In the past he had resolutely opposed adding advertising, even as most Netflix rivals had done so. But Hastings is... Hell has frozen over. Netflix co-CEO Reed Hastings’ revelation tonight that he is willing to...

Credit: Bloomberg

What the Demise of Spotify’s Live Audio Fund Means

By Mahira Dayal · Apr 19, 2022 3:43pm PDT

Credit: Bloomberg

Creator Economy

What the Demise of Spotify’s Live Audio Fund Means

By Mahira Dayal · Apr 19, 2022 3:43pm PDT

It’s been a downhill slope for social audio. After Clubhouse had early success during the outset of the coronavirus pandemic in 2020, Twitter, Facebook and Spotify launched their own copycat versions. But excitement has fizzled as more in-person activities resumed. Spotify’s decision to shelve plans for a fund to back creators producing live... It’s been a downhill slope for social audio. After Clubhouse had early success during the outset...