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

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Recent Editions

Elementus CEO Max Galka. Photo: Joseph Spiteri Photography. Art by Mike Sullivan

Elementus Wants to be the Google of Blockchain; Bolt Gets Serious About Crypto

By Aidan Ryan · Apr 7, 2022 6:16pm PDT

Just like Google helps users navigate the internet, and Yellow Pages’ directories help people find businesses, Elementus CEO Max Galka thinks his startup can be the universal search engine for blockchains.“Google, in some sense, is like the Yellow Pages for the web, right?” Galka told me Thursday morning at his startup’s offices near Manhattan’s... Just like Google helps users navigate the internet, and Yellow Pages’ directories help people...

Apple CEO Tim Cook. Photo by Bloomberg.

Apple Throws Its Own Apps Under the Bus

By Nick Wingfield · Apr 7, 2022 5:00pm PDT · 1 comment

For most of the year, Apple won’t stop reminding people how in-house services like Apple Music, Apple Maps and Apple TV+ are crushing it. On Thursday though, Apple sent a very different message about how its own apps are being crushed by competitors.It published a 48-page report on its website by an economic consultancy, the Analysis Group,... For most of the year, Apple won’t stop reminding people how in-house services like Apple Music,...

Catherine Coddington Credit: Meta Art: Mike Sullivan

Creator Economy

Facebook Gaming Tests Cross-App Streaming; TikTok to Stream a Musical

By Mahira Dayal · Apr 7, 2022 4:46pm PDT

Since its launch four years ago, Facebook Gaming has been trying to establish itself as a competitor to Twitch and YouTube, the two dominant sites for video gamers who livestream their playing and commentary to fans. In April 2020, spurred by demand for online gaming brought on by the pandemic, the gaming division of Meta Platforms launched a... Since its launch four years ago, Facebook Gaming has been trying to establish itself as a...

Meta CEO Mark Zuckerberg on stage at F8 2019. Photo: Bloomberg.

Does Meta Need the F8 Developer Conference Anymore?

By Mathew Olson · Apr 7, 2022 11:00am PDT

Meta CEO Mark Zuckerberg on stage at F8 2019. Photo: Bloomberg.

Does Meta Need the F8 Developer Conference Anymore?

By Mathew Olson · Apr 7, 2022 11:00am PDT

Meta Platforms’s decision to skip its annual developer conference F8 this year raises a question: given the rising importance of AR/VR, does Meta even need its spring conference at all anymore? Maybe the Connect conference in the fall, which is focused on AR/VR, will take over as Meta’s premier developer event.Notably, CEO Mark Zuckerberg used... Meta Platforms’s decision to skip its annual developer conference F8 this year raises a question:...

Art by Mike Sullivan

The Solo Venture Capitalist Who Doubles Down Like Andreessen

By Berber Jin · Apr 7, 2022 6:00am PDT · 3 comments

Somebody forgot to send Oren Zeev the memo about how Silicon Valley venture capitalists are supposed to act. The investor has fewer than 3,000 followers on Twitter, where he rarely opines on the kinds of trending topics that light up venture land. He conducts meetings with startup founders at a two-story coffee shop in Palo Alto, Calif., Cafe... Somebody forgot to send Oren Zeev the memo about how Silicon Valley venture capitalists are...

Bill Qian, head of Binance Labs. Photo: Binance Labs. Art by Mike Sullivan

Binance’s VC Arm Wants to Raise an Outside Fund

By Aidan Ryan · Apr 6, 2022 6:19pm PDT

As the head of Binance Labs, the venture arm of crypto exchange Binance, Bill Qian is already quite busy. Using Binance’s balance sheet, the venture team has led deals such as Wednesday’s $150 million funding round for Axie Infinity-developer Sky Mavis. But it has set its ambitions on doing much more. In a video interview from Dubai, Qian... As the head of Binance Labs, the venture arm of crypto exchange Binance, Bill Qian is already...

WarnerMedia Cleans House Ahead of Discovery Liberation

WarnerMedia Cleans House Ahead of Discovery Liberation

By Martin Peers · Apr 6, 2022 5:00pm PDT

The de-AT&Tification of WarnerMedia is underway. All but two members of the entertainment company’s executive team are departing as it gets swallowed up by Discovery, Warner said today. The two survivors are holdovers from Warner’s pre-AT&T era. Nearly all the others either came from the telecom giant or were installed by it. The shakeup... The de-AT&Tification of WarnerMedia is underway. All but two members of the entertainment...

Lydia Hylton. Credit: Bain Capital Crypto Art: Mike Sullivan

Bain Capital Crypto’s New Partner on How to Tell if NFT Hype Is Real

By Mahira Dayal · Apr 6, 2022 4:20pm PDT · 1 comment

Lydia Hylton. Credit: Bain Capital Crypto Art: Mike Sullivan

Creator Economy

Bain Capital Crypto’s New Partner on How to Tell if NFT Hype Is Real

By Mahira Dayal · Apr 6, 2022 4:20pm PDT · 1 comment

A week after Bain Capital Ventures unveiled a new fund that will pour $560 million into crypto investments, Lydia Hylton joined the venture firm as a partner from Redpoint Ventures, where she previously invested in Web 3 infrastructure startups. In an interview with The Information, Hylton discussed how she and her colleagues are doing due... A week after Bain Capital Ventures unveiled a new fund that will pour $560 million into crypto...

Which Tech Companies Are Returning to the Office, Staying Remote or in Between

By Akash Pasricha and Stephen Nellis · Apr 6, 2022 2:22pm PDT · 7 comments

After many fits and starts over the past two years, a critical mass of tech workers is finally returning to the office. Some companies, like Google and Uber, are requiring workers in their seats at least two days a week. Others like Salesforce are leaving commutes mostly up to employees and managers. Still others, such as Coinbase and... After many fits and starts over the past two years, a critical mass of tech workers is finally...

A Maximus glasses-style waveguide coupled to its display engine. Photo: Lumus. Illustration: Mike Sullivan.

Lumus Unveils New AR Waveguides; A Meta-Backed VR Education Program Expands

By Mathew Olson · Apr 6, 2022 11:00am PDT

Israel-based Lumus likes to say that its OE Maximus is one of the highest-quality see-through displays for AR glasses—a waveguide—currently available to device makers. Today the company is revealing two new Maximus variants, and the ways they differ from the original suggest the company is getting serious about putting its tech in consumer... Israel-based Lumus likes to say that its OE Maximus is one of the highest-quality see-through...

Art by Haejin Park

Pretty LinkedIn Profiles Are Overrated

By Hope Cochran · Apr 6, 2022 9:00am PDT · 15 comments

Every year, I work with a cohort of 30 women executives from all types of industries to help them position themselves for appointment to corporate boards. We spend an evening hunkered down in a conference room working through their LinkedIn profiles to craft a story that reflects the specific skills they can bring to a boardroom. As you can... Every year, I work with a cohort of 30 women executives from all types of industries to help them...

Fast CEO Domm Holland. Art by Mike Sullivan

Live Fast, Die Young: Behind the Fall of a One-Click Wonder

By Kate Clark and Malique Morris · Apr 6, 2022 6:08am PDT · 9 comments

Fast CEO Domm Holland. Art by Mike Sullivan

Live Fast, Die Young: Behind the Fall of a One-Click Wonder

By Kate Clark and Malique Morris · Apr 6, 2022 6:08am PDT · 9 comments

On Aug. 3 last year, after doing a round of victory donuts on a street near Sparkman Wharf in Tampa, Fla., Domm Holland stepped out of the passenger seat of a NASCAR racing pickup truck. The black Chevy Silverado was branded with the name of the startup he was leading: Fast, a developer of software that online stores could use to help shoppers... On Aug. 3 last year, after doing a round of victory donuts on a street near Sparkman Wharf in...

Hivemapper CEO Ariel Seidman (Photo courtesy of Hivemapper. Art courtesy of Mike Sullivan.)

Hivemapper, a Blockchain for Maps, Raises Funding; FTX Backs IEX

By Akash Pasricha · Apr 5, 2022 5:42pm PDT

If you’re a fan of neat ways entrepreneurs are applying blockchain, this one’s for you. Hivemapper, a San Francisco-based startup, said Tuesday it raised $18 million in a Series A led by Multicoin Capital for its decentralized mapping protocol that rewards users with tokens for collecting dashcam footage. Right now, mapping platforms like... If you’re a fan of neat ways entrepreneurs are applying blockchain, this one’s for you. ...

Twitter's San Francisco headquarters. Photo by Bloomberg.

What Musk Brings to Twitter

By Martin Peers · Apr 5, 2022 5:00pm PDT

Elon Musk’s decision to plunge himself into the corporate morass that is Twitter, in a way that could spark a fight with securities regulators, suggests the Tesla CEO is a little bored and looking for a new distraction. The timing makes sense. After years of nail-biting struggle, Tesla is finally in a good place: It’s making real money.... Elon Musk’s decision to plunge himself into the corporate morass that is Twitter, in a way that...

Creative Juice CEO Sima Gandhi. Photo: Creative Juice

Creator Economy

Creative Juice Expands Pool for Financing Creators to $50 Million; Songfinch Raises Seed Round

By Kaya Yurieff · Apr 5, 2022 3:04pm PDT

An emerging group of startups is investing directly in creators, betting that short-term financing now will pay off as these creators build brands and even bigger followings. Creative Juice, one of the newest, is increasing its pool of money for bankrolling creators to $50 million, CEO Sima Gandhi told The Information. The decision follows a... An emerging group of startups is investing directly in creators, betting that short-term...

While Digital Stragglers Remain, AI is Helping to Close the Gap

By The Information Staff · Apr 5, 2022 11:26am PDT

While Digital Stragglers Remain, AI is Helping to Close the Gap

By The Information Staff · Apr 5, 2022 11:26am PDT

On March 29, in partnership with Accenture, The Information hosted a conversation to discuss how platforms are helping small and medium-sized businesses (SMBs) to establish digital maturity. While big businesses have largely weathered the ill effects of the COVID-19 pandemic, many SMBs face tumultuous waters when navigating the disruption and... On March 29, in partnership with Accenture, The Information hosted a conversation to discuss how...

Photo by Bloomberg

Musk and the SEC: A History

By Aidan Ryan · Apr 5, 2022 11:22am PDT

Twitter’s appointment of Elon Musk to its board this morning may very well inflame Musk’s already-tense relations with the Securities and Exchange Commission. Musk on Monday revealed a 9.2% stake in Twitter but filed as a passive shareholder, avoiding detailed financial disclosure that would have been required if he had filed as an... Twitter’s appointment of Elon Musk to its board this morning may very well inflame...

Dr. Grordbort’s Invaders, one of the AR games NZXR staffers helped create. Credit: Weta Workshop/Magic Leap.

Niantic Acquires Ex-Magic Leap Developers; Ready Player Me Inks Adidas Avatar Deal

By Mathew Olson · Apr 5, 2022 11:00am PDT

It hasn’t even been a month since Niantic’s last acquisition, but the AR juggernaut is growing yet again. The Pokemon Go makers are acquiring NZXR, a New Zealand-based AR game development team. NZXR joins a list of recent Niantic purchases that includes 8th Wall, Lowkey, Hoss and Scaniverse. Niantic hasn’t disclosed the price for any of these... It hasn’t even been a month since Niantic’s last acquisition, but the AR juggernaut is growing...

Fast CEO Domm Holland (center) at his office. Credit: Fast

Fast, the Troubled Fintech Startup, Is Shutting Down

By Jessica E. Lessin and Malique Morris · Apr 5, 2022 10:27am PDT · 10 comments

Update, April 6: The Information tracked Fast's rise and fall. Read our in-depth look at its over-the-top spending and rapid-fire hiring that masked the startup's chronic struggles. One-click checkout startup Fast is shutting down entirely and will discontinue its products and brand, according to several people familiar... Update, April 6: The Information tracked Fast's rise and fall. Read our in-depth...

Art by Josh Brill

China’s ‘Little Nvidia’ Has a Big Secret: Its Homegrown AI Chip Isn’t

By Juro Osawa and Stephen Nellis · Apr 5, 2022 8:09am PDT · 3 comments

Art by Josh Brill

China’s ‘Little Nvidia’ Has a Big Secret: Its Homegrown AI Chip Isn’t

By Juro Osawa and Stephen Nellis · Apr 5, 2022 8:09am PDT · 3 comments

Chinese microchip startup Moore Threads has a short history many Silicon Valley counterparts would envy. Within 100 days of its founding in October 2020, the Beijing-based company was worth more than $1 billion on paper after raising hundreds of millions of dollars from marquee investors including Sequoia Capital China and TikTok’s owner,... Chinese microchip startup Moore Threads has a short history many Silicon Valley counterparts...