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

Ceartas CEO and founder Dan Purcell. Credit: Dan Purcell

Creator Economy

The Startup Scraping the Internet for Stolen Content; OpenSea Layoffs; LTK Inks Deal With Stripe

By Mahira Dayal · Jul 14, 2022 3:15pm PDT

Creators frequently find that other internet users have replicated their videos, photos and text without permission. Some people see this as an inconvenience, but the stakes are higher for creators who are harassed, threatened or demeaned when others misuse their photos or videos online.Ceartas, a startup that uses algorithms to search the... Creators frequently find that other internet users have replicated their videos, photos and text...

Art by Josh Brill.

VC Due Diligence Returns—With a Vengeance

By Kate Clark and Aaron Holmes · Jul 14, 2022 6:00am PDT · 1 comment

In June, the founders of Duplo, a Nigerian fintech company started last year, received some disappointing news. Insight Partners, a New York–based private equity and venture capital firm, in the spring had signed an offer to lead the company’s seed round, a step that would have cemented Duplo’s relationship with one of the... In June, the founders of Duplo, a Nigerian fintech company started last year, received some...

How China Outmaneuvered the West to Control the EV Battery Industry

How China Outmaneuvered the West to Control the EV Battery Industry

By Steve LeVine · Jul 14, 2022 4:00am PDT

Next week: When we speak of batteries, we usually mean lithium-ion powered by nickel- or iron-led cathodes. But the yearslong metals shortage ahead of us means the industry must broaden its outlook beyond the usual metals. That's why I'm excited about the next Live Chat, in which I'll host Colin Wessells, CEO of Stanford spinoff Natron... Next week: When we speak of batteries, we usually mean lithium-ion powered by nickel- or...

Kyle Samani and Tushar Jain of Multicoin Capital (left). Samuel Harrison and Banafsheh Fathieh of Lightspeed Faction (right). Photos courtesy of companies.

Despite a Market Meltdown, the Crypto Winter in Venture May Be Short Lived

By Akash Pasricha · Jul 13, 2022 5:21pm PDT · 1 comment

Kyle Samani and Tushar Jain of Multicoin Capital (left). Samuel Harrison and Banafsheh Fathieh of Lightspeed Faction (right). Photos courtesy of companies.

Despite a Market Meltdown, the Crypto Winter in Venture May Be Short Lived

By Akash Pasricha · Jul 13, 2022 5:21pm PDT · 1 comment

Talking to crypto venture capitalists these days feels a bit like talking to hockey players on the car ride home from the last big tournament of the season. There was a lot of action in a really short period of time. The stands were full and everyone was watching. There were winners and there were losers. Now it’s summer and everyone’s resting... Talking to crypto venture capitalists these days feels a bit like talking to hockey players on...

A worker delivers packages on Amazon Prime Day in New York. Photo: Bloomberg.

Creator Economy

Amazon Live Shopping Melts in the Spotlight; Poop Emoji in Court

By Mark Di Stefano · Jul 13, 2022 3:33pm PDT

Happy Day Two of Prime Day, the mid-year firesale of products on Amazon.com where (nearly) everything must go! I hope you were able to pick up a little smartspeaker on sale, or your annual haul of cheap underwear and socks. This year’s sales event has taken on added importance as Amazon tries to shake off its witch’s brew of problems—high... Happy Day Two of Prime Day, the mid-year firesale of products on Amazon.com where (nearly)...

Art by Laurent Hrybyk

The U.S. Is Writing a New Digital Doctrine

By Karen Kornbluh · Jul 13, 2022 9:00am PDT · 1 comment

In its infancy, the commercial web was thought to be a much-needed competitor against the incumbent players in the telecommunications market—or rather it could be, but only if it could steer clear of strangling regulations. So the U.S. created a governance system with minimal state control, enshrining the right of free access within the... In its infancy, the commercial web was thought to be a much-needed competitor against the...

Miguel Fernandez. Photo courtesy of Capchase

The Bank of SaaS Has $400 Million More to Lend

By Maria Heeter · Jul 13, 2022 5:00am PDT · 7 comments

Investor enthusiasm for cloud-software companies may have cooled from its heyday last year. But some investors think there’s money to be made in lesser-known startups. Capchase, a New York–based company that lends to early-stage software startups, has raised $400 million in debt from lenders including i80 Group. The two-year-old... Investor enthusiasm for cloud-software companies may have cooled from its heyday last year. But...

Photo by AP

Tech Investor Anxieties May Be Overblown

By Jessica E. Lessin · Jul 12, 2022 5:10pm PDT · 2 comments

Photo by AP

Tech Investor Anxieties May Be Overblown

By Jessica E. Lessin · Jul 12, 2022 5:10pm PDT · 2 comments

It’s a big day here at The Information. We’ve launched a brand-new set of tools to help our subscribers connect and share content. You can read what others are saying about them here. Here’s the gist: The Information’s outstanding subscriber base includes some of the most important individuals in tech, but these days online networking is a... It’s a big day here at The Information. We’ve launched a brand-new set of tools to help our...

Dion Foxworth, co-host of the “Stock Market Moves” show, using the Clubhouse app in February 2021. Photo: Bloomberg

Creator Economy

Clubhouse Has Enough Cash to Figure Things Out

By Kaya Yurieff · Jul 12, 2022 2:00pm PDT

Before we get into today’s newsletter, I’d like to bring your attention to newly launched features for subscribers of The Information:• Profiles: The ability to build your own profile page, search the directory for other subscribers, and comment on stories and in other areas of the product.• Directory: A place to search for subscribers... Before we get into today’s newsletter, I’d like to bring your attention to newly launched...

Announcing The Information Profiles, Directory and Forum: Connections Worth Your Time

By Jessica E. Lessin · Jul 12, 2022 7:00am PDT · 19 comments

Back in 2013, when we launched The Information, the world of journalism—and especially tech journalism—was a huge mess. Publications were so focused on pumping out content that they forgot how to do real reporting. So we started The Information to deliver the big, difficult-to-report stories that drive the conversation. And our... Back in 2013, when we launched The Information, the world of journalism—and especially tech...

Art by Clark Miller

Clubhouse Isn’t Dead Yet

By Kaya Yurieff · Jul 12, 2022 6:24am PDT · 3 comments

Maybe the eulogies for Clubhouse were a bit premature. Sure, the social audio app’s star has dimmed since it became a Silicon Valley sensation during the first phase of the pandemic, when millions of people were stuck at home, bored out of their minds. By some estimates, usage of the app is down more than 70% from its peak in February... Maybe the eulogies for Clubhouse were a bit premature. Sure, the social audio app’s star...

MasterClass CEO David Rogier. Photo: Bloomberg

Creator Economy Startup Layoffs Near 800

By Mahira Dayal · Jul 11, 2022 3:19pm PDT

MasterClass CEO David Rogier. Photo: Bloomberg

Creator Economy

Creator Economy Startup Layoffs Near 800

By Mahira Dayal · Jul 11, 2022 3:19pm PDT

It’s been a turbulent period for workers in the creator economy. Last month, we collected information on seven such startups, including 120 people at celebrity course provider MasterClass and 90 people at Picsart, which provides photo and video editing tools. In addition to those, at least five other creator startups have laid off staff in... It’s been a turbulent period for workers in the creator economy. Last month, we collected...

Mysten Labs co-founder and CEO Evan Cheng. Photo by Mysten Labs. Art by Mike Sullivan.

Startup Founded by Former Meta Crypto Execs Seeks $2 Billion Valuation

By Aidan Ryan · Jul 11, 2022 1:07pm PDT

Mysten Labs—a startup founded by former Meta Platforms employees that is building a new blockchain for decentralized applications including gaming and social media networks—is in talks with investors about raising a Series B round of at least $200 million led by FTX Ventures, according to two people with direct knowledge of the... Mysten Labs—a startup founded by former Meta Platforms employees that is building a new ...

Apple CEO Tim Cook and an Apple test car. Photo by Bloomberg. Art by Mike Sullivan

How Apple’s Eight-Year Quest to Build a Self-Driving Car Hit Roadblocks

By Wayne Ma · Jul 11, 2022 6:00am PDT · 12 comments

Last August, Apple sent several of its prototype self-driving cars on a roughly 40-mile trek through Montana. Aerial drones filmed the drive, from Bozeman to the ski resort town of Big Sky, so that Apple managers could produce a polished film, with picturesque mountains in the background, to show CEO Tim Cook how their costly and... Last August, Apple sent several of its prototype self-driving cars on a roughly 40-mile trek...

Tesla CEO Elon Musk and Drew Baglino, senior vice president for power train, introduce dry battery electrodes on Battery Day in September 2020. Photo: Tesla

The Little-Known U.S. Company Challenging Tesla on Batteries

By Steve LeVine · Jul 10, 2022 2:00pm PDT

Welcome back to The Electric!Save the date: Three centuries ago, Prussian blue was a revolutionary hue for painters. Now it’s the main component of one of the most interesting new batteries. For the next Live Chat, I’m excited to host Colin Wessells, CEO of Stanford spinoff Natron Energy, to discuss the past and future of Prussian blue,... Welcome back to The Electric!Save the date: Three centuries ago, Prussian blue was a...

A Tech Billionaire's Heir Makes Her Mark on Congress

A Tech Billionaire's Heir Makes Her Mark on Congress

By Jon Steinberg · Jul 9, 2022 8:00am PDT

A Tech Billionaire's Heir Makes Her Mark on Congress

A Tech Billionaire's Heir Makes Her Mark on Congress

By Jon Steinberg · Jul 9, 2022 8:00am PDT

Hi, welcome to your Weekend! We interrupt your regular Elon Musk programming to bring you several stories that have nothing to do with unbuying Twitter, siring secret children with underlings, or threatening to fire employees. You can thank us in the comments.Instead, this weekend’s lineup begins with a look at Rep. Sara Jacobs,... Hi, welcome to your Weekend! We interrupt your regular Elon Musk programming to bring...

Culling the ‘Chicken of the Tree’: YouTube Hunters Are Taking Down Invasive Species in the Name of the Environment

By Jessica Lucas · Jul 9, 2022 7:00am PDT · 1 comment

Darcie Arahill started fishing at the age of 3 in her home state of Florida and never really stopped. Under the tutelage of her father, she learned to respect nature and the delicate balance of the ecosystems around her. Today, Arahill, 33, has gained notoriety as a bikini-clad “blonde babe” who posts clips on YouTube of herself reeling in... Darcie Arahill started fishing at the age of 3 in her home state of Florida and never really...

Art by Clark Miller.

Screentime: Firefighter Turned Venture Investor Matthew Ball Is Also a Fortnite Power User

By Annie Goldsmith · Jul 9, 2022 7:00am PDT · 1 comment

Welcome back toScreentime,where tech leaders divulge their personal phone habits. To say Matthew Ball is all in on the metaverse would be a meta-understatement. The venture capitalist is wrapping up four years of research and writing for his new, succinctly titled book “The Metaverse: And How It Will Revolutionize Everything” (July 19). In it,... Welcome back toScreentime,where tech leaders divulge their personal phone habits. To say Matthew...

Photo Sara Jacobs. Art by Clark Miller.

‘My Body, My Data’: The Tech Heir Congresswoman Bringing a New Privacy Fight to the Capitol

By Nancy Scola · Jul 8, 2022 1:00pm PDT

“Mr. Speaker,” said California congresswoman Sara Jacobs, standing in the well of the House of Representatives one Thursday morning this past June. “As a young woman, reproductive health care is my health care, and like tens of millions of Americans, I’ve used apps to track my period.” Jacobs went on, “It is unconscionable that our personal... “Mr. Speaker,” said California congresswoman Sara Jacobs, standing in the well of the House of...

Oracle Chairman Larry Ellison, left, and CEO Safra Catz. Photos by Bloomberg; AP

Oracle Discussed Laying Off Thousands of Workers

By Amir Efrati and Kevin McLaughlin · Jul 8, 2022 12:46pm PDT · 3 comments

Oracle Chairman Larry Ellison, left, and CEO Safra Catz. Photos by Bloomberg; AP

Oracle Discussed Laying Off Thousands of Workers

By Amir Efrati and Kevin McLaughlin · Jul 8, 2022 12:46pm PDT · 3 comments

Oracle recently considered cost reductions of up to $1 billion that could result in thousands of layoffs as soon as August, said a person with direct knowledge of the situation. The proposed job cuts could disproportionately impact U.S.- and Europe-based workers in units such as marketing for software applications that automate customer service... Oracle recently considered cost reductions of up to $1 billion that could result in thousands of...