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

Art by Mike Sullivan

Inside the Perfect Storm Battering the Amazon Aggregator Ecosystem

By Mark Di Stefano · May 31, 2022 6:00am PDT · 9 comments

In early January, around 40 e-commerce entrepreneurs from around the world gathered in deluxe villas in Cabo, Mexico. They flew in on the invitation of Thrasio—the biggest aggregator of businesses that sell on Amazon’s marketplace. Though the four-year-old startup’s planned public debut via a special purpose acquisition company... In early January, around 40 e-commerce entrepreneurs from around the world gathered in deluxe...

The Byd Seal, part of its Ocean line of EVs.

The Electric: How Byd Became the Best-Selling Carmaker in China

By Steve LeVine · May 31, 2022 5:30am PDT

Today's column is from Dalibor Petkovic, a freelance 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 automaker Byd in April became the first homegrown brand in 36 years to lead the nation in sales,... Today's column is from Dalibor Petkovic, a freelance researcher specializing in Chinese...

The Archer Maker eVTOL. Photo: Courtesy Archer

The Electric: Electric Air Taxis Are Coming, but Not How Backers Envision Them

By Steve LeVine · May 29, 2022 2:00pm PDT

Welcome back to The Electric!On Thursday: The most-consulted compendium of data on batteries and electric vehicles is the annual BloombergNEF New Energy Outlook. This week, BNEF will release its 2022 industry forecast. Right afterward, we will discuss it with Colin McKerracher, BNEF’s head of auto and transport analysis, who leads the analytical... Welcome back to The Electric!On Thursday: The most-consulted compendium of data on batteries and...

How Taylor Lorenz Became America's Most Polarizing Tech Reporter

How Taylor Lorenz Became America's Most Polarizing Tech Reporter

By Jon Steinberg · May 28, 2022 8:00am PDT

How Taylor Lorenz Became America's Most Polarizing Tech Reporter

How Taylor Lorenz Became America's Most Polarizing Tech Reporter

By Jon Steinberg · May 28, 2022 8:00am PDT

Hi, welcome to your Weekend! I wish I was writing you in happier circumstances, and could simply talk up Annie's riveting profile of Taylor Lorenz, below. But this has been a tragic week. The mass murder of 19 kids and their two teachers in Uvalde, Texas, has been on all of our minds. Unfortunately, the hopelessness you're probably... Hi, welcome to your Weekend! I wish I was writing you in happier circumstances, and could...

Photo Sheridan Clayborne. Art by Mike Sullivan.

The Child Prodigy Turned Founder Who Wants to Loan You Some 401(k) Cash

By Margaux MacColl · May 28, 2022 7:00am PDT · 8 comments

Sheridan Clayborne is used to being the youngest person in the room. He was 15 when he got into Northwestern University, 17 when he made his first million, and 19 when he landed a job at Dropbox. Now, at 22, he’s raised $24 million for his startup, Lendtable, which helps people fulfill their employer’s 401(k) matches. Founded in 2020, Lendtable... Sheridan Clayborne is used to being the youngest person in the room. He was 15 when he got into...

Golden State Warriors' Andrew Wiggins (22) and Miami Heat's P.J. Tucker (17) in a game in March. Photo by AP

An NBA Battle Could Fuel SF-Miami Feud

By Nick Wingfield · May 27, 2022 5:00pm PDT

It has been a rough week for national news, so please excuse us for a little diversionary counterprogramming on this Friday before the long Memorial Day weekend. Several of tech’s most important cities have a great showdown looming! On Thursday, San Francisco’s Golden State Warriors clinched their first NBA finals berth in three years after... It has been a rough week for national news, so please excuse us for a little diversionary...

Photo Bloomberg. Art by Clark Miller.

‘The Worst-Case Scenario Is That I Look Like an Idiot’: Aaron Levie Still Refuses to Swallow the Crypto Red Pill

By Adam Lashinsky · May 27, 2022 1:00pm PDT · 17 comments

“I think I’m just a very boring realist,” said Aaron Levie, CEO of Box, over a 44-minute Zoom call last Monday. He was talking about the yearslong crypto craze, which may have finally sobered up amid the market dives and token implosions of the last several weeks. Levie is one of the few leaders in tech who has consistently called BS on the... “I think I’m just a very boring realist,” said Aaron Levie, CEO of Box, over a 44-minute Zoom...

Art by Clark Miller

‘All Rippers and No Skippers’: How Taylor Lorenz Became Part of the Story

By Annie Goldsmith · May 27, 2022 12:00pm PDT · 11 comments

Art by Clark Miller

‘All Rippers and No Skippers’: How Taylor Lorenz Became Part of the Story

By Annie Goldsmith · May 27, 2022 12:00pm PDT · 11 comments

On May 18, The Washington Post published a breaking news story about the Biden administration’s newly created and promptly attacked Disinformation Governance Board. The board was to be led by researcher and author Nina Jankowicz, who, The Post reported, “has been subject to an unrelenting barrage of harassment and abuse while unchecked... On May 18, The Washington Post published a breaking news story about the Biden administration’s...

Art by Mike Sullivan

Five Ways Web3 Companies Will Have to Adapt to Survive

By Tomasz Tunguz · May 27, 2022 9:00am PDT · 8 comments

The summer of 2021 will forever be remembered as DeFi summer in crypto land. Arising from the darkness of 2020’s crypto winter, the decentralized finance sector had grown more than eight-fold by May of last year before peaking at $250 billion in market capitalization in December. Three quarters later, old man winter is back. His calling... The summer of 2021 will forever be remembered as DeFi summer in crypto land. Arising from the...

Art by Mike Sullivan

VC Pay Surged Again in 2021, but Future Jumps Are in Jeopardy

By Kate Clark · May 27, 2022 6:00am PDT · 5 comments

It’s hard to find venture capitalists right now who aren’t telling their startups to tighten their belts. But when will venture firms start tightening their own belts? Pay for venture capitalists has increased steeply in recent years as venture funds have exploded in size and nontraditional investors like Tiger Global... It’s hard to find venture capitalists right now who aren’t telling their startups to...

Photo: Bloomberg

VMware Should Not Expect a White Knight; Wish Sidelined as Dollar Stores Rally

By Scott Thurm · May 26, 2022 6:08pm PDT · 4 comments

Broadcom made official its plan to acquire VMware in a cash-and-stock deal worth around $61 billion. The deal underscores the degree to which CEO Hock Tan has transformed Broadcom from a maker of networking chips into a formidable player in enterprise software. The agreement includes a “go-shop” provision allowing VMware to solicit bids... Broadcom made official its plan to acquire VMware in a cash-and-stock deal worth around $61...

Federal Trade Commission Chair Lina Khan. Photo by Bloomberg

To Combat Declining Staff Morale, FTC Chair Khan Lifts Public Speaking Ban as Deputy Issues Apology

By Josh Sisco · May 26, 2022 3:21pm PDT · 4 comments

Federal Trade Commission Chair Lina Khan. Photo by Bloomberg

To Combat Declining Staff Morale, FTC Chair Khan Lifts Public Speaking Ban as Deputy Issues Apology

By Josh Sisco · May 26, 2022 3:21pm PDT · 4 comments

Federal Trade Commission Chair Lina Khan, facing mounting concerns among her 1,100-plus employees about the agency’s direction and her governing style, on Thursday walked back restrictions that prevented staff from participating in most conferences and other public events. In an apologetic email, Khan’s chief of staff, Jen Howard,... Federal Trade Commission Chair Lina Khan, facing mounting concerns among her 1,100-plus employees...

From left to right: Spring COO Annelies Jansen, Verishop co-founder Cate Khan, creator Dominique Broadway and Patreon’s head of creator partnerships Avi Gandhi. Photo: Mike Sullivan.

Creator Economy

What a Potential Recession Means for Creators; OnlyFans Founder’s Next Act; Pinterest Is Hiring

By Kaya Yurieff · May 26, 2022 2:59pm PDT

The Information’s Creator Economy Summit on Wednesday took place against the backdrop of a looming downturn and rising inflation. Reduced consumer spending would cut to the core of the creator economy. Sponsorships with brands are the top way many creators make money. If advertisers reduce spending this year, that could impact creator earnings—... The Information’s Creator Economy Summit on Wednesday took place against the backdrop of a...

From L-R: Enrico D'Angelo, Sean Kim, Kristin Bannon, Sally Shin, Sam Wick, Erin Miller

Creator Economy Summit

Creator Economy Winter, TikTok’s Rivals and NFTs: Highlights From the Creator Economy Summit

By The Information Staff · May 26, 2022 2:11pm PDT

How Instagram and Pinterest view blockchain technologies. Whether the creator economy is overfunded. Strategies for creators to buck an economic downturn. These were among the topics of discussion at The Information’s Creator Economy Summit Wednesday. Participants included Ashley Yuki, Instagram’s vice president of product; Malik... How Instagram and Pinterest view blockchain technologies. Whether the creator economy is...

LivingCities will begin testing its new social experience in downtown Manhattan. Photo: Bloomberg.

6D.ai Founder’s New Project Exits Stealth; Sony Lines Up PS VR2 Titles

By Mathew Olson · May 26, 2022 11:15am PDT

Bit by bit, inch by inch, we’re seeing companies start to put together full 3D maps of the world, and the implications for the future of AR and the feel of the metaverse could be profound. That’s the technology LivingCities, a new startup led by ex-Samsung, Lucasfilm and Foursquare talent, hopes to build on top of.LivingCities has emerged from... Bit by bit, inch by inch, we’re seeing companies start to put together full 3D maps of the world,...

Photo by Bloomberg

A Top China VC Firm Struggles to Raise Funds After 10% Return, U.S. Investor Fears

By Juro Osawa · May 26, 2022 6:00am PDT · 2 comments

Photo by Bloomberg

A Top China VC Firm Struggles to Raise Funds After 10% Return, U.S. Investor Fears

By Juro Osawa · May 26, 2022 6:00am PDT · 2 comments

Despite a difficult climate for raising money, at least four top-tier Chinese venture capital firms set ambitious goals to raise billions of dollars this year from Western institutional investors. Some have already succeeded—but not all of them. Matrix Partners China, one of China’s most prolific early-stage VC firms and an early... Despite a difficult climate for raising money, at least four top-tier Chinese venture capital...

Musk and Drew Baglino, his chief of powertrain, revealed the 4680 battery concept on Battery Day, in September 2020. Photo: Courtesy Tesla

There’s a New Contender to Replicate Tesla’s 4680 Battery

By Steve LeVine · May 26, 2022 4:00am PDT

Save the date: Next week, BloombergNEF releases its much-anticipated annual outlook on electric vehicles, batteries, and the new mobility. To discuss it, join BNEF's Colin McKerracher and me for Live Chat With The Electric. McKerracher, BNEF's head of advanced transport, oversees the outlook, and you can ask your own questions of him. June 2 at... Save the date: Next week, BloombergNEF releases its much-anticipated annual outlook on electric...

Photo by Bloomberg

Startups in Sequoia’s ‘Crucible Moment’; Musk Pledges More Funding for Twitter

By Laura Mandaro · May 25, 2022 5:34pm PDT

As we reported last night, Sequoia Capital has once again taken on the role of Silicon Valley soothsayer, releasing a 52-slide presentation on advice to startups, which it says face a “crucible moment” as the economy slows and central banks retract the monetary stimulus that kicked off the boom two years ago. In particular, the partners at... As we reported last night, Sequoia Capital has once again taken on the role of Silicon Valley...

Creator Economy Leaders Respond to Texas Shooting; Creator Startups Rise to 200; Understanding Twitter’s CEO

Creator Economy

Creator Economy Leaders Respond to Texas Shooting; Creator Startups Rise to 200; Understanding Twitter’s CEO

By Mahira Dayal · May 25, 2022 3:31pm PDT

It’s hard to jump into the creator economy topics we love to discuss when we’re grieving over the lives lost in Tuesday’s Texas elementary school shooting. That’s what several of our speakers also told us when we kicked off our second Creator Economy Summit on Wednesday. Their comments felt particularly somber given last week’s mass shooting in... It’s hard to jump into the creator economy topics we love to discuss when we’re grieving over the...

Ken Li, executive director of investments and M&A at Binance. Photo: Binance

What Binance Labs Is Telling Founders Amid Downturn; Haun Ventures Adds to Deal Team

By Aidan Ryan · May 25, 2022 1:15pm PDT

Ken Li, executive director of investments and M&A at Binance. Photo: Binance

What Binance Labs Is Telling Founders Amid Downturn; Haun Ventures Adds to Deal Team

By Aidan Ryan · May 25, 2022 1:15pm PDT

Investors haven’t been shy about warning founders that the next crypto winter is upon us—though most are spinning the downturn as a big opportunity for those that can weather the storm to come out even stronger. Andreessen Horowitz seemed to prove this logic right, at least as far as funding opportunities go, when it announced its mega new $4.5... Investors haven’t been shy about warning founders that the next crypto winter is upon us—though...