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

Alicia Boler-Davis, in 2012. Photo by Bloomberg.

Reading Between the Lines of Amazon’s Big Shakeup

By Nick Wingfield · Jun 21, 2022 5:00pm PDT

We learned a few things from an Amazon executive reshuffling Tuesday, which was set in motion by the recent departure of Dave Clark, the company’s former CEO for worldwide consumer. Amazon CEO Andy Jassy promoted Doug Herrington to be the chief of what the company is now calling Worldwide Amazon Stores, and consolidated all of its operations... We learned a few things from an Amazon executive reshuffling Tuesday, which was set in motion by...

TikTok star Charli D'Amelio. Photo: AP

Creator Economy

Who’s Headed to VidCon; Facebook Extends Fee-Free Creator Tools

By Kaya Yurieff · Jun 21, 2022 2:12pm PDT

It’s a busy week for conferences touching various areas of the creator economy, from advertising at the Cannes Lions Festival in France to crypto topics at NFT NYC and, of course, the Super Bowl of the influencer industry, VidCon in Anaheim, Calif. While I’m at VidCon, my colleague Mark Di Stefano is on the ground in Cannes and Mahira Dayal is... It’s a busy week for conferences touching various areas of the creator economy, from advertising...

Illustration by Josh Brill

What Venture Investors Get Wrong About China

By Ming Liao · Jun 21, 2022 9:00am PDT · 4 comments

For two decades, investors in China’s venture capital firms have looked for partners with an instinct for the “new economy.” And for two decades, the firms have posted high-flying returns primarily driven by winners in this fiercely competitive arena—including upstarts in budget appliances (Xiaomi), social media... For two decades, investors in China’s venture capital firms have looked for partners with...

Jerry Seinfeld (left) and Ted Sarandos. Photo by Getty. Art by Mike Sullivan

A Netflix Slump Tests Sarandos’ Talent Savvy

By Jessica Toonkel · Jun 21, 2022 6:00am PDT

Jerry Seinfeld (left) and Ted Sarandos. Photo by Getty. Art by Mike Sullivan

A Netflix Slump Tests Sarandos’ Talent Savvy

By Jessica Toonkel · Jun 21, 2022 6:00am PDT

In 2019, when comedian Mike Myers was pitching a new comedy series to Netflix, program executives at the company were skeptical. The onetime “Saturday Night Live” star hadn’t had a hit since the early 2000s and Netflix staffers worried a new series wouldn’t attract an audience, according to people familiar with the... In 2019, when comedian Mike Myers was pitching a new comedy series to Netflix, program executives...

Buyers of the coming Sony-Honda electric vehicle should have access to Sony's film library, including the James Bond franchise. Photo: Courtesy MGM

The Electric: Inside the Battle Over the EV Dashboard

By Steve LeVine · Jun 19, 2022 2:00pm PDT

Welcome back to The Electric! Automakers and tech companies are at war for who will control the profit from the sale of electric vehicles this decade. The assumption is that paid monthly subscriptions for software delivered over the air to EVs will generate much of the earnings. This week, we interrogate that assumption, and point out that... Welcome back to The Electric! Automakers and tech companies are at war for who will control...

San Francisco's Tentative Comeback

San Francisco's Tentative Comeback

By Jon Steinberg · Jun 18, 2022 8:00am PDT

Hi, welcome to your Weekend! Nick Wingfield, senior editor at The Information, here, sitting in for your regular newsletter maestro, Jon Steinberg. Is it 2018? That was the last time Bay Area venture capitalists and techies could brag that the Golden State Warriors were champions. For the two seasons prior to this one, San Francisco’s... Hi, welcome to your Weekend! Nick Wingfield, senior editor at The Information, here, sitting...

Art by Mike Sullivan.

‘I choose to be intentionally paranoid’: Adam Selipsky Navigates AWS Into a Cloudy Future

By Adam Lashinsky · Jun 18, 2022 7:00am PDT · 2 comments

Of the five big tech companies that dominate their respective corners of the industry, Amazon is the only one whose headquarters sprout from the soil of a bustling metropolis. There’s no suburban sprawl in Seattle’s Belltown neighborhood, where a cluster of Amazon office towers is located, along with the company’s distinctive, triple-bulbed... Of the five big tech companies that dominate their respective corners of the industry, Amazon is...

So Your Startup Died. What Do You Do With All That Swag?

By Cory Weinberg · Jun 18, 2022 7:00am PDT · 5 comments

So Your Startup Died. What Do You Do With All That Swag?

By Cory Weinberg · Jun 18, 2022 7:00am PDT · 5 comments

Megan Auringer started as a project manager at construction startup Katerra in January 2018, the same month it announced an $865 million fundraising round led by SoftBank’s Vision Fund, the world’s largest private tech investor. Over the next few years, the company kept collecting checks from venture capitalists, while Auringer collected free... Megan Auringer started as a project manager at construction startup Katerra in January 2018, the...

TikTok CEO Shouzi Chew. Photo by Bloomberg.

TikTok’s Oracle News Recalls Trump’s War on the App

By Martin Peers · Jun 17, 2022 5:00pm PDT

Talk about déjà vu! TikTok’s blog post today declaring that all of its U.S. user data is now on Oracle cloud servers in the U.S. took us back in time, to the summer of 2020, when the big story in tech business was Trump’s war on TikTok. Trump’s threats to ban TikTok—over concerns about the security of U.S. user data—didn’t pan out, of course.... Talk about déjà vu! TikTok’s blog post today declaring that all of its U.S. user data is now on...

Art by Clark Miller.

How Canned Iced Tea Became a Viral Crypto Project

By Margaux MacColl · Jun 17, 2022 2:00pm PDT

When the value of the terra stablecoin started to plummet last month, things looked grim for the crypto market. Artists Brian Moore, Mike Lacher and Chris Baker decided to create a stablecoin whose value would never waver. The three of them, who are collectively known as Mossy, created a stablecoin pegged to AriZona Iced Tea, the sugary beverage... When the value of the terra stablecoin started to plummet last month, things looked grim for the...

Art by Clark Miller.

San Francisco Is Back. Sort of. Maybe.

By Kate Clark · Jun 17, 2022 12:00pm PDT · 16 comments

Earlier this month, hundreds of Bay Area techies swarmed 5A5 Steak Lounge, a private dining venue blocks from San Francisco’s Ferry Building where patrons feast on Wagyu beef and sip $16 Japanese whisky cocktails. They were there for a spring party put on by Modernist, a members-only club in San Francisco tailored to the tech elite. There was an... Earlier this month, hundreds of Bay Area techies swarmed 5A5 Steak Lounge, a private dining venue...

Art by Laurent Hrybyk.

Welcome to the E-Commerce Winter

By Mark Di Stefano and Malique Morris · Jun 17, 2022 6:02am PDT · 3 comments

Art by Laurent Hrybyk.

Welcome to the E-Commerce Winter

By Mark Di Stefano and Malique Morris · Jun 17, 2022 6:02am PDT · 3 comments

Every tech downturn has a locus of weakness—the companies that fall first and spread the carnage. But few in Silicon Valley thought retail and payments companies would be among the biggest victims. The implosion in public tech-driven retail and payments companies has been breathtaking—with investors losing tens of billions of... Every tech downturn has a locus of weakness—the companies that fall first and spread the...

Elon Musk. Photo by Bloomberg.

Musk’s Q&A Glossed Over the Key Question About Twitter Buyout

By Martin Peers · Jun 16, 2022 5:00pm PDT

Elon Musk’s question-and-answer session with Twitter employees today should have been good news for shareholders. After all his bluster about spambots, the fact that Musk was willing to spend an hour or so answering questions from employees suggests that he intends to go through with the acquisition. And yet afterward, Twitter shares remained... Elon Musk’s question-and-answer session with Twitter employees today should have been good news...

Maitree Mervana Parekh, a principal at Acrew Capital. Photo: Maitree Mervana Parekh

Creator Economy

TikTok’s Rising Venture Capitalists; Yanked Brand Deals; Viral Entomology

By Kaya Yurieff · Jun 16, 2022 3:30pm PDT

Some venture capital firms are experimenting with TikTok as a marketing tool to reach people in their mid-20s. Maitree Mervana Parekh, 29, a principal at Acrew Capital, sees it differently: As a way to portray her interests outside work and experience what it means to be a creator, which she says gives her a deeper understanding of founders and... Some venture capital firms are experimenting with TikTok as a marketing tool to reach people in...

Illustration by Jesus Escudero.

Overvalued Tech SPAC Deals Face Looming Deadlines

By Maria Heeter · Jun 16, 2022 1:51pm PDT

Tech companies that planned to go public via a merger with a special purpose acquisition company are facing a fork in the road: They can list now at valuations that look pricey next to comparable public stocks and run the risk of a steep sell-off after their market debuts. Or they can scrap their deals and shop for financing elsewhere—say,... Tech companies that planned to go public via a merger with a special purpose acquisition company...

Shutterstock.

Event Recap: Why Creators Should Tap the Metaverse

By The Information Staff · Jun 16, 2022 12:43pm PDT · 1 comment

Shutterstock.

Partner Content

Event Recap: Why Creators Should Tap the Metaverse

By The Information Staff · Jun 16, 2022 12:43pm PDT · 1 comment

Poised to reshape the world, the metaverse is science fiction turned reality. As the seismic shift takes place, understanding the relationship between consumers and online engagement may help companies break through. The Creator Economy Summit on May 25th assembled executives to talk shop. One session—New Frontiers: Creators and the... Poised to reshape the world, the metaverse is science fiction turned reality. As the seismic...

Art by Mike Sullivan

Musk Will Take Questions from Twitter Employees—Twitter Should Answer His

By Andrea Stroppa · Jun 16, 2022 8:00am PDT · 7 comments

Roughly 2,000 years ago, Roman philosopher Lucius Annaeus Seneca wrote to his friend Licinio, “Growth is slow, but ruin is fast.” Twitter has grown a lot in its 16 years, with 229 million active daily users and an oversize footprint in the political debate. But the company risks losing the trust of users and investors if it... Roughly 2,000 years ago, Roman philosopher Lucius Annaeus Seneca wrote to his friend Licinio,...

Databricks Chief People Officer Amy Reichanadter.

Q&A

Databricks Pushes Ahead With Hiring Spree to Add 2,500 Workers This Year

By Mark Matousek · Jun 16, 2022 6:08am PDT · 2 comments

Layoffs and hiring freezes are sweeping across Silicon Valley, but Databricks is still recruiting heavily. The data management company, most recently valued at $38 billion last August, is aiming to end the year with 5,500 employees, up from 3,000 at the start of 2022, Databricks Chief People Officer Amy Reichanadter said in an interview with The... Layoffs and hiring freezes are sweeping across Silicon Valley, but Databricks is still recruiting...

Fed chairman Jerome Powell.

As Era of Cheap Money Ends, Fast Deliveries Dry Up

By Martin Peers · Jun 15, 2022 5:00pm PDT

As the era of cheap money comes to a close, tech’s couch potato era also appears to be ending. It seems fitting that on the day the Fed unveiled another hike in interest rates, fast-delivery startup Jokr said it was ending its operations in the U.S. If ever there was a business that relied on easy availability of money, it would be the crop... As the era of cheap money comes to a close, tech’s couch potato era also appears to be ending. It...

Art by Mike Sullivan

YouTube Says 1.5 Billion People Watch Shorts; Twitch Ramps Up Ad-Share

By Mahira Dayal · Jun 15, 2022 2:57pm PDT

Art by Mike Sullivan

Creator Economy

YouTube Says 1.5 Billion People Watch Shorts; Twitch Ramps Up Ad-Share

By Mahira Dayal · Jun 15, 2022 2:57pm PDT

YouTube on Wednesday released new statistics on the growth in Shorts, the short-form video feature it launched to rival TikTok: More than 1.5 billion people who log into YouTube every month watch Shorts. On its surface, that statistic is impressive. It’s 50% more than the 1 billion monthly users TikTok reported in September. And it's 75% of... YouTube on Wednesday released new statistics on the growth in Shorts, the short-form video...