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

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The Briefing

By Martin Peers, Jessica E. 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

Why We Are Launching The Information Pro

By Jessica E. Lessin · Feb 22, 2023 11:30am PST · 24 comments

I am delighted to share the launch of The Information Pro—a new tier of subscription that features our expanded org charts, brand-new databases based on our reporting, our new survey product and a specialized weekly newsletter. To understand why we are launching The Information Pro, you have to go back to the beginning. When I founded The... I am delighted to share the launch of The Information Pro—a new tier of subscription that...

PRO

Introducing The Information’s Cloud Database of Top Spenders

By Amir Efrati · Feb 22, 2023 11:00am PST

Companies that once bought their own computers and software increasingly rely on cloud services from Amazon Web Services and others. The trend is well known, but the details—who is spending how much with which cloud providers—have been largely hidden. That’s why we created The Information’s Cloud Database, a... Companies that once bought their own computers and software increasingly rely on cloud services...

Art by Mike Sullivan.

The Private Tech Company That Let Employee Stock Grants Evaporate

By Cory Weinberg · Feb 22, 2023 7:00am PST · 14 comments

Household tech names Airbnb and Stripe have gone to great lengths to prevent arcane tax rules from creating disaster for the employees who helped build those firms. Airbnb went public just before employees’ valuable stock grants expired, while Stripe is raising as much as $4 billion privately to avoid that fate. Foursquare—the... Household tech names Airbnb and Stripe have gone to great lengths to prevent arcane tax rules...

Oracle co-founder Larry Ellison in 2018. Photo by Bloomberg

AI Startups Find an Unlikely Friend: Oracle

By Aaron Holmes · Feb 22, 2023 6:00am PST · 1 comment

Oracle co-founder Larry Ellison in 2018. Photo by Bloomberg

AI Startups Find an Unlikely Friend: Oracle

By Aaron Holmes · Feb 22, 2023 6:00am PST · 1 comment

Top cloud providers are jostling to sign deals with artificial intelligence startups that need computing resources as they chase OpenAI, maker of ChatGPT. An improbable early leader in the race to rent servers to these startups is Oracle, a longtime laggard in the cloud field that had developed reputational problems with some longtime customers... Top cloud providers are jostling to sign deals with artificial intelligence startups that need...

Coinbase CEO Brian Armstrong. Photo by Bloomberg.

Coinbase Sets Bar Low for Long-Term Profit Goals

By Martin Peers · Feb 21, 2023 5:00pm PST

When it comes to profit goals, Brian Armstrong isn’t exactly setting the bar high. Coinbase declared today that it was abandoning the goal it laid out two years ago when it went public to operate “at break even, smoothed out over time,” so that losses sustained during crypto winters would be offset by profits made in good times. Instead,... When it comes to profit goals, Brian Armstrong isn’t exactly setting the bar high. Coinbase...

Art: Shane Burke

Creator Economy

The Creator Gamble in Meta’s New Subscription Offering

By Mahira Dayal · Feb 21, 2023 3:15pm PST

For the last three years, social networks like Meta Platforms have pledged more tools for creators to help them reach fans and make money, services that aim to attract online influencers and their followers to the apps. Meta’s latest tool comes with a twist—and by twist, I mean a fee of between $11.99 and $14.99 a month. It’s an interesting... For the last three years, social networks like Meta Platforms have pledged more tools for...

Illustration by Scotty Reifsnyder.

Internet Freedom Isn’t a Luxury

By Adrian Shahbaz, Allie Funk and Kian Vesteinsson · Feb 21, 2023 9:00am PST · 1 comment

One year ago this week, the Russian government launched its illegal and unprovoked invasion of Ukraine. Almost immediately after, the Kremlin blocked Facebook and Twitter for people in Russia and forced the remaining independent and foreign media operating in the country to shut their doors. Russians have spent the past year living in a more... One year ago this week, the Russian government launched its illegal and unprovoked invasion of...

A scene from the 2017 day when Okta went public. Photo by AP.

Three Cybersecurity Stocks That Look Cheap

By Akash Pasricha and Martin Peers · Feb 21, 2023 7:02am PST · 1 comment

A scene from the 2017 day when Okta went public. Photo by AP.

Three Cybersecurity Stocks That Look Cheap

By Akash Pasricha and Martin Peers · Feb 21, 2023 7:02am PST · 1 comment

You can tell a company’s stock price has fallen too far when its shareholders resist private equity buyout offers on the grounds that valuations are too depressed for selling. That’s what has happened lately in enterprise software, and it’s a sign that there are bargains to be had for savvy investors. Two examples:... You can tell a company’s stock price has fallen too far when its shareholders resist...

Microsoft CEO Satya Nadella. Art by Clark Miller

Before Rebirth, Microsoft’s Bing Faced Near-Death Experiences

By Aaron Holmes · Feb 21, 2023 6:00am PST · 2 comments

“Where is our hit?” Steve Ballmer repeatedly directed the question at his lieutenants in the year before he stepped down as CEO of Microsoft in 2014, according to two people who heard him ask it. His biggest frustrations were Microsoft’s flops in the consumer market, including Bing, a search engine the company had introduced to... “Where is our hit?” Steve Ballmer repeatedly directed the question at his lieutenants...

On the cusp of the EV age, public charging remains unreliable. Photo: George Rose/Getty

The Electric: With the Future of EV Sales on the Line, Vehicle Charging Is Getting Worse

By Steve LeVine · Feb 19, 2023 2:00pm PST

For a frigid few late-night hours just before Christmas, Kyle Conner shuttled among electric vehicle fast-charge stations in a 50-mile corridor north of Denver to check their performance in a cold snap. It was 6 below zero and he had heard that fast-charge units newly installed by Volkswagen’s Electrify America network were malfunctioning.... For a frigid few late-night hours just before Christmas, Kyle Conner shuttled among electric...

Art by Clark Miller.

Market Research

If Teslas Had a Kickstand: Premium Electric Motorcycles Are Finally Ready to Ride

By Tim Stevens · Feb 18, 2023 7:00am PST · 10 comments

I’ve loved motorcycles all my life—ridden them on both road and track for almost 20 years. And I’ve been obsessed with electric bikes since I got my first ride on a pre-production Zero S way back in 2009. Since then, I’ve ridden dozens of electric motorcycles and, while I haven’t loved all of them, I’ve always... I’ve loved motorcycles all my life—ridden them on both road and track for almost 20...

One Year of War: How Ukrainian Tech Companies Have Persevered

One Year of War: How Ukrainian Tech Companies Have Persevered

By Jon Steinberg · Feb 18, 2023 7:00am PST

One Year of War: How Ukrainian Tech Companies Have Persevered

One Year of War: How Ukrainian Tech Companies Have Persevered

By Jon Steinberg · Feb 18, 2023 7:00am PST

Hi, welcome to your Weekend!While the tech press was freaking out over Microsoft’s new AI search capabilities this week (present company included), a war in Ukraine lurched toward an awful anniversary. This Friday marks one year since Vladimir Putin’s forces invaded the country, extinguishing hundreds of thousands of lives and permanently... Hi, welcome to your Weekend!While the tech press was freaking out over Microsoft’s new AI search...

My Week of Being Gaslit and Lied to by the New Bing

By Chris Stokel-Walker · Feb 17, 2023 12:00pm PST · 12 comments

Like any tech reporter who spends too much time online, I’ve treated Microsoft’s Bing search engine with little more than disdain since its 2009 release. Initially mocked for its stale, staid, retro graphics (its early design included a logo in front of hot air balloons), Bing also gave lackluster search results that paled in... Like any tech reporter who spends too much time online, I’ve treated Microsoft’s Bing...

A Son of Palo Alto Digs Up Its Skeletons

By Arielle Pardes · Feb 17, 2023 10:30am PST · 8 comments

Around 70,000 people live in Palo Alto, Calif., but to walk through it with Malcolm Harris is to see a town populated with ghosts. There are the specters of Leland Stanford and his wife Jane (who may or may not have been murdered in a battle for control of Stanford University). There’s the spirit of William Shockley, inventor of the... Around 70,000 people live in Palo Alto, Calif., but to walk through it with Malcolm Harris is to...

Art by Clark Miller

‘We All Have One Big Dream’: How Ukraine’s Tech Companies Evolved to Survive a Year of War

By Flora Tsapovsky · Feb 17, 2023 9:00am PST · 6 comments

For an average startup founder, dealing with the unexpected and unknown is an everyday reality. But in February 2022, the Ukrainian tech community encountered a disruption of unfathomable proportions. Nearly overnight, reality flipped the table on investors’ meetings, funding rounds and expansion plans, turning leaders’ focus away... For an average startup founder, dealing with the unexpected and unknown is an everyday reality....

Stripe CEO and co-founder Patrick Collison. Photo by Getty.

Inside Stripe’s $55 Billion Pitch to Investors

By Kate Clark and Cory Weinberg · Feb 17, 2023 8:27am PST · 8 comments

Stripe CEO and co-founder Patrick Collison. Photo by Getty.

Inside Stripe’s $55 Billion Pitch to Investors

By Kate Clark and Cory Weinberg · Feb 17, 2023 8:27am PST · 8 comments

Stripe is trying to raise a huge sum of money from investors, so it has tried to craft a compelling pitch: The payments giant is growing faster this year than some of the biggest names in tech. It has a lot more potential lines of revenue than just its core payments business. And it’s grabbing loads of customers focused on artificial... Stripe is trying to raise a huge sum of money from investors, so it has tried to craft a...

Art by Mike Sullivan.

Amazon’s Shrinking Cloud Gaming Service Could Be the Next Stadia

By Theo Wayt · Feb 17, 2023 6:00am PST · 1 comment

Amazon’s attempt to build out a videogame streaming service is losing steam, with its library of games quickly shrinking less than a year after its launch. That’s raising questions about whether it could go the way of Google’s Stadia, which shut down last month. Amazon’s cloud-based service, Luna, has seen its library... Amazon’s attempt to build out a videogame streaming service is losing steam, with its...

Susan Wojcicki. Photo by Bloomberg.

I Was Wrong About Susan Wojcicki

By Jessica E. Lessin · Feb 16, 2023 5:00pm PST

I remember the day, nine years ago, when Susan Wojcicki took over as CEO of YouTube. I didn’t think it would go well. And I was wrong. As a tech reporter on the Google beat, I had known Wojcicki for a while and had followed her for even longer. She had been the 16th employee at the company—basically as closely tied to the history of Google... I remember the day, nine years ago, when Susan Wojcicki took over as CEO of YouTube. I didn’t...

Susan Wojcicki announced she would step down as YouTube CEO. Photo via Bloomberg

Creator Economy

Susan Wojcicki’s YouTube Legacy

By Kaya Yurieff · Feb 16, 2023 3:22pm PST · 1 comment

It’s the end of an era at YouTube. In a surprise announcement Thursday, CEO Susan Wojcicki said she’s stepping down after nearly 25 years at Google and nine years helming the popular video-sharing site. Neal Mohan, YouTube’s chief product officer, will be the new head of the company. Wojcicki said she would focus on family, health and personal... It’s the end of an era at YouTube. In a surprise announcement Thursday, CEO Susan Wojcicki said...

Photo by Shutterstock.

Who’s to Blame for Venture Capital’s Bloat?

By Kate Clark · Feb 16, 2023 2:09pm PST · 4 comments

Photo by Shutterstock.

Who’s to Blame for Venture Capital’s Bloat?

By Kate Clark · Feb 16, 2023 2:09pm PST · 4 comments

After I published last week’s column, which said limited partners were still pissed off at venture capitalists for misplaced bets made during the funding boom, my phone buzzed with a string of texts from a prominent venture capitalist.“LPs propagated all of this.” “They are just as accountable.”“Who gave Tiger all the money?”It’s a... After I published last week’s column, which said limited partners were still pissed off at...