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

Former AWS CEO Andy Jassy, now Amazon's CEO, in 2019. Photo by Bloomberg

AWS Server Chip Becomes a Not-So-Secret Weapon Against Microsoft, Google

By Kevin McLaughlin · Jul 18, 2022 6:00am PDT · 11 comments

For the past decade, Amazon Web Services has maintained its edge over Microsoft and Google in selling cloud computing services by speeding up its technology and lowering prices. Over the next 10 years, a key advantage will be its Graviton microchips, which AWS developed in-house to power apps on the internet or to help customers train... For the past decade, Amazon Web Services has maintained its edge over Microsoft and Google in...

Much of Indonesia's nickel processing is conducted at Morowali Industrial Park on Sulawesi island. Photo: Dimas Ardian/Bloomberg

The Electric: Playing Unapologetic Hardball, Indonesia Creates a Global Battery Hub

By Steve LeVine · Jul 17, 2022 2:00pm PDT

Welcome back to The Electric! On Thursday: The auto and battery industries have been struck by a stark shortage of lithium and nickel, so how will they make enough lithium-ion batteries to meet anticipated demand for their electric vehicles? One option is a different kind of battery—such as a surprising one containing Prussian blue... Welcome back to The Electric! On Thursday: The auto and battery industries have been struck...

Where Did All the Vests Go?: Inside Venture Capital’s Summer Disappearance Act

Where Did All the Vests Go?: Inside Venture Capital’s Summer Disappearance Act

By Jon Steinberg · Jul 16, 2022 8:00am PDT

Hi, welcome to your Weekend! If you’re reading this from somewhere along the Mediterranean or the East End of Long Island, you’re apparently not alone. As my colleague Erin Woo reports in this week’s cover story, a sizable chunk of tech’s investing class has traded deal-chasing for chaise-lounging recently. While a summer slowdown is sort... Hi, welcome to your Weekend! If you’re reading this from somewhere along the Mediterranean...

Photo courtesy of Atoms. Art by Clark Miller

How an Invite and a Pivot Changed Everything for the Founders of Sneaker Brand Atoms

By Margaux MacColl · Jul 16, 2022 7:00am PDT · 3 comments

Photo courtesy of Atoms. Art by Clark Miller

How an Invite and a Pivot Changed Everything for the Founders of Sneaker Brand Atoms

By Margaux MacColl · Jul 16, 2022 7:00am PDT · 3 comments

In 2015, when married founders Waqas Ali and Sidra Qasim arrived at Y Combinator, they weren’t yet fluent in English. The pair had traveled from Pakistan, where their handmade leather shoe business had become a viral sensation. But at Y Combinator’s famous Demo Day, they looked at all the rival entrepreneurs wearing fashionable sneakers, and... In 2015, when married founders Waqas Ali and Sidra Qasim arrived at Y Combinator, they weren’t...

Lulu Cheng Meservey. Art by Clark Miller.

‘The Truth Had Been Distorted Beyond Recognition’: Lulu Cheng Meservey on Joining the Activision Board and Defending Free Speech on Substack

By Adam Lashinsky · Jul 15, 2022 1:00pm PDT · 9 comments

Lulu Cheng Meservey isn’t your typical corporate flack. The Washington, D.C.-based head of communications for Substack, a digital newsletter platform, Meservey is brash and outspoken online—far more so than the company’s founders. Her pre-PR background included a short stint on Wall Street and working for one of former President Bill Clinton’s... Lulu Cheng Meservey isn’t your typical corporate flack. The Washington, D.C.-based head of...

Art by Clark Miller

‘If I Miss a Deal, It’s—Whatever’: Venture Investors Throw in the Beach Towel

By Erin Woo · Jul 15, 2022 12:00pm PDT · 8 comments

Jordan Levy joins the Zoom with black sunglasses on his head and a pool umbrella in the background. The 66-year-old Softbank Capital NY managing partner once founded an incubator focused on Buffalo, N.Y.’s startup ecosystem. This summer, though, he’s hanging out with his grandchildren in a different part of the Empire State: Sagaponack, a... Jordan Levy joins the Zoom with black sunglasses on his head and a pool umbrella in the...

Photo by AP.

What Comes After Big Tech’s Advertising Boom?

By Stephen Council · Jul 15, 2022 6:00am PDT · 2 comments

Earnings season is fast approaching, and all eyes will be on how advertising businesses, under pressure from privacy changes and competition from fast-growing TikTok, are holding up amid a souring economic climate. A slowdown from last year’s blockbuster ad revenue growth is likely as companies tighten digital marketing budgets and the... Earnings season is fast approaching, and all eyes will be on how advertising businesses, under...

Netflix co-CEO Reed Hastings in 2019. Photo by Bloomberg

Why Netflix’s Microsoft Partnership May Not Be Enough

By Jessica E. Lessin · Jul 14, 2022 5:00pm PDT

Netflix co-CEO Reed Hastings in 2019. Photo by Bloomberg

Why Netflix’s Microsoft Partnership May Not Be Enough

By Jessica E. Lessin · Jul 14, 2022 5:00pm PDT

Seems like another founder is reading The Information! Last week, we wrote about companies slashing their internal valuations to gain a recruiting edge. And now Stripe seems to have done just that. But don’t shed a tear for the payments company and its investors just yet: The valuation a company sets for employee compensation isn’t... Seems like another founder is reading The Information! Last week, we wrote about companies...

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...