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

Vitalik Buterin and Brian Armstrong. Art by Shane Burke.

Who’s Cashing In on the Ethereum Merge

By Akash Pasricha · Aug 24, 2022 3:52pm PDT

The crypto community is abuzz this week with all things “merge,” the looming date when the Ethereum blockchain will transition from proof of work to proof of stake. If that language is still gobbledygook to you, don’t worry, we’ll break it down below. But the question we’re asking today is: Which crypto companies will benefit most from the... The crypto community is abuzz this week with all things “merge,” the looming date when the...

YouTube creator Jordan Matter. Photo: JJ Ignotz Photography

Creator Economy

One Untapped Market for Creator Economy Startups; TikTok Is the New Digital Crack, Say Bernstein Internet Analysts

By Kaya Yurieff · Aug 24, 2022 2:00pm PDT

As our Creator Economy Database shows, there are more than 260 startups catering to creators, from marketing and banking services to online courses and live shopping. But most fail to address one group of creators: everyone working behind the camera, according to Jordan Matter, a 55-year-old YouTuber with 12.6 million subscribers.“It’s an... As our Creator Economy Database shows, there are more than 260 startups catering to creators,...

Art by Mike Sullivan

What We Don’t See Online Is Warping Our View of the World

By Jillian York · Aug 24, 2022 9:00am PDT

Recent events around the world—from the wars in Yemen and Ukraine to protests in the wake of the Supreme Court’s overturning of Roe v. Wade and the all-too-regular mass shootings in the U.S.—have raised fresh questions about how social media platforms deal with violence and extremism on their platforms. Many of these concern... Recent events around the world—from the wars in Yemen and Ukraine to protests in the wake...

Alex Atallah, Aparna Chennapragada, Bill Qian, Michael Moro, and Rod Bolger.

On the Market: Crypto Execs From OpenSea, Paradigm and Binance

By Aidan Ryan and Akash Pasricha · Aug 24, 2022 6:00am PDT · 1 comment

Alex Atallah, Aparna Chennapragada, Bill Qian, Michael Moro, and Rod Bolger.

On the Market: Crypto Execs From OpenSea, Paradigm and Binance

By Aidan Ryan and Akash Pasricha · Aug 24, 2022 6:00am PDT · 1 comment

This year’s dramatic slump in crypto prices left few parts of the industry unscathed. As the dust settles following a wave of layoffs, reorganizations and bankruptcies, seasoned crypto executives—including some who had only recently started their latest roles—are in the market for new gigs. And despite all the upheaval,... This year’s dramatic slump in crypto prices left few parts of the industry unscathed. As...

Peiter "Mudge" Zatko at a Stripe keynote in 2019. Photo courtesy of YouTube.

Musk Welcomes a Whistleblower

By Jessica E. Lessin · Aug 23, 2022 6:00pm PDT · 1 comment

Of the many things that can be said about Elon Musk, one that I often return to is that he is really a CEO for the people. By that, I mean he’s an executive whose image is perpetually shaped and bolstered by the masses who adore him, look up to him or are in other ways obsessed by him. And so it is somewhat fitting that he appeared to... Of the many things that can be said about Elon Musk, one that I often return to is that he is...

Photo: Mike Sullivan

Creator Economy

Twitch Lets Creators Stream on Rival Services; Instagram’s BeReal Copycat

By Kaya Yurieff · Aug 23, 2022 2:21pm PDT

Twitch streamers who are part of the company’s partner program are now allowed to livestream on competing services, such as YouTube or Facebook. Previously, streamers who wanted to be part of the program, which gives them access to money-making tools such as ad-revenue sharing and subscriptions, couldn’t also host streams on YouTube and... Twitch streamers who are part of the company’s partner program are now allowed to livestream on...

Illustration by Josh Brill

Companies Are Ditching Cybersecurity Insurance as Premiums Rise, Coverage Shrinks

By Aaron Holmes · Aug 22, 2022 11:00pm PDT · 8 comments

Can you imagine going without flood insurance if you lived alongside a river? That’s what is happening in corporate America nowadays, as skyrocketing cyberinsurance premiums prompt more companies to go without traditional cyber insurance even as ransomware and other digital hacks surge. Last year cyber insurance premiums in the U.S. spiked... Can you imagine going without flood insurance if you lived alongside a river? That’s what...

Photo by AP

Cybersecurity Startup Arctic Wolf in Talks to Raise $300 Million in Convertible Debt

By Maria Heeter · Aug 22, 2022 6:40pm PDT

Photo by AP

Cybersecurity Startup Arctic Wolf in Talks to Raise $300 Million in Convertible Debt

By Maria Heeter · Aug 22, 2022 6:40pm PDT

Arctic Wolf, a 10-year-old cybersecurity startup valued last year at $4.3 billion, is in talks to raise $300 million in convertible debt from investors including direct lender Owl Rock Capital, according to people familiar with the matter. The debt would convert to shares at a premium to the price in an eventual initial public offering, the... Arctic Wolf, a 10-year-old cybersecurity startup valued last year at $4.3 billion, is in talks to...

Amazon CEO Andy Jassy in June. Photo by Bloomberg

Amazon’s M&A Blitz Presents Challenges for FTC

By Martin Peers · Aug 22, 2022 5:00pm PDT

We’re learning how Amazon plans to deal with Federal Trade Commission Chair Lina Khan’s anti–tech acquisition policy—by striking so many deals that the FTC will have a hard time fighting them all. You could call it the whack-a-mole M&A strategy. That’s one interpretation of Sunday’s news that Amazon is a bidder for Signify Health, a health... We’re learning how Amazon plans to deal with Federal Trade Commission Chair Lina Khan’s anti–tech...

Art: Mike Sullivan

Creator Economy

Twitter’s Bonus Cuts; Amazon’s Live Audio App Six Months In

By Mahira Dayal · Aug 22, 2022 3:40pm PDT

Twitter staff learned Friday their annual bonuses might be cut 50%, according to a memo sent by Twitter’s chief financial officer Ned Segal that The New York Times first reported. The warning followed Twitter’s first quarterly revenue drop in two years. The potential bonus cuts represent more bad news for Twitter employees, who have grappled... Twitter staff learned Friday their annual bonuses might be cut 50%, according to a memo sent by...

Art by Mike Sullivan.

E-Commerce Software Startups Poised for M&A Spree

By Malique Morris · Aug 22, 2022 6:00am PDT · 1 comment

E-commerce software startups are going shopping—for each other. Attentive, a text message marketing startup, is one of the companies on the prowl. It has around $500 million in cash on hand, according to CEO Brian Long, who told The Information the company will look for more deals in the next six to 12 months. At that point, he expects... E-commerce software startups are going shopping—for each other. Attentive, a text message...

In a shot over the bow, Toyota—after decades of watching U.S. automakers—became the third best-selling auto line in the U.S. with the $1,780 Corona. Photo: AP

The Electric: To Get Its Battery Supply Chain, the U.S. Will Have to Mimic China

By Steve LeVine · Aug 21, 2022 2:00pm PDT

In a shot over the bow, Toyota—after decades of watching U.S. automakers—became the third best-selling auto line in the U.S. with the $1,780 Corona. Photo: AP

The Electric: To Get Its Battery Supply Chain, the U.S. Will Have to Mimic China

By Steve LeVine · Aug 21, 2022 2:00pm PDT

Save the date: A year ago, we launched The Electric to cover one of the most important—and least reported—new sectors in technology: batteries and electric vehicles. On September 8, we’ll celebrate our anniversary with a special event on perhaps the most important challenge facing the industry—building a battery supply chain independent of... Save the date: A year ago, we launched The Electric to cover one of the most important—and least...

Will Investors Ever Take to the Abortion Pill?

Will Investors Ever Take to the Abortion Pill?

By Jon Steinberg · Aug 20, 2022 8:00am PDT · 2 comments

Hi, welcome to your Weekend! This week began with the news that the once-disgraced CEO of WeWork, Adam Neumann, was receiving a $350 million lifeline from Andreessen Horowitz. It ended with the news that the once-valorized CEO of Gravity Payments, Dan Price, had resigned in the wake of abuse allegations. How long before a blue-chip... Hi, welcome to your Weekend! This week began with the news that the once-disgraced CEO of...

Art by Clark Miller.

Screentime: Investor Sarah Guo on Pairing Podcasts With Peloton and Why She Carries Her Phone ‘Naked’

By Annie Goldsmith · Aug 20, 2022 7:00am PDT · 6 comments

After spending the past nine years as a partner at Greylock Ventures, Sarah Guo struck out on her own in June. Now she’s launching her own fund, Conviction, focused on early-stage tech investments (her notable angel investments include FTX andMagic Eden, the leading Solana non-fungible token marketplace). Though she can’t share much about her... After spending the past nine years as a partner at Greylock Ventures, Sarah Guo struck out on her...

Photo by AP.

KKR Has Considered Buying Venture Lender to Expand Startup Debt

By Maria Heeter · Aug 19, 2022 3:52pm PDT

Private equity giant Kohlberg Kravis Roberts & Co. is looking to expand its lending to venture-backed startups and has considered buying a venture-focused lender or recruiting a team of professionals focused on such deals, people familiar with the talks told The Information. Some KKR rivals, including Blackstone, have been making a similar... Private equity giant Kohlberg Kravis Roberts & Co. is looking to expand its lending to...

Art by Clark Miller.

‘I Don’t Think There’s Anything Foolish About Blitzscaling’: Reid Hoffman Regrets Nothing—Except Maybe Those SPACs

By Adam Lashinsky · Aug 19, 2022 12:00pm PDT · 7 comments

Art by Clark Miller.

‘I Don’t Think There’s Anything Foolish About Blitzscaling’: Reid Hoffman Regrets Nothing—Except Maybe Those SPACs

By Adam Lashinsky · Aug 19, 2022 12:00pm PDT · 7 comments

It's check-writing season for Reid Hoffman, and not just for his two venture capital firms, two special purpose acquisition corporations, two podcasts, six startup boards or any of the other extracurricular activities that keep him stupendously busy. (I counted one real job—at Greylock Partners—and 15 side hustles, which he confirmed.) Hoffman,... It's check-writing season for Reid Hoffman, and not just for his two venture capital firms, two...

Art by Clark Miller.

‘100% in Office Every Day, Including Weekends’: The Rise of the Hard-Line Return-to-Office Policy

By Annie Goldsmith · Aug 19, 2022 10:00am PDT · 18 comments

Among the 75,000 people at San Francisco’s Outside Lands music festival on Sunday, August 7, were 10 co-workers from Merge, an enterprise platform that integrates human resources, payroll, recruiting and accounting systems. The group, with a few chosen plus-ones, gathered at noon on one colleague’s Russian Hill rooftop. They lingered a bit, and... Among the 75,000 people at San Francisco’s Outside Lands music festival on Sunday, August 7, were...

Amazon; HBO; Disney+. Art by Mike Sullivan

It’s Not TV, It’s the Customer Experience

By Andrew A. Rosen · Aug 19, 2022 9:00am PDT

PARQOR is part of The Information’s newsletter network. To receive it in your inbox every Monday, Wednesday and Friday, sign up here. The next four weeks will deliver a one-two-three punch of big intellectual property in streaming: First, the Game of Thrones prequel “House of the Dragon” premieres on HBO Max (and, of... PARQOR is part of The Information’s newsletter network. To receive it in your inbox every...

Art by Clark Miller

The Abortion Pill Paradox

By Margaux MacColl · Aug 19, 2022 9:00am PDT · 2 comments

In April, a young woman named Maya found herself in a Barnes & Noble bathroom in California, staring at a positive pregnancy test. Twenty-one years old and not ready to raise a baby, Maya knew “instantly” what she needed to do: Schedule an abortion. Her first call was to Planned Parenthood, but the local clinic’s next available appointment... In April, a young woman named Maya found herself in a Barnes & Noble bathroom in California,...

Cisco Systems CEO Chuck Robbins in May. Photo by Bloomberg

What Belt-Tightening? Cisco CEO Plans $1 Billion Budget Increase to Retain Employees

By Aaron Holmes · Aug 19, 2022 6:00am PDT · 1 comment

Cisco Systems CEO Chuck Robbins in May. Photo by Bloomberg

What Belt-Tightening? Cisco CEO Plans $1 Billion Budget Increase to Retain Employees

By Aaron Holmes · Aug 19, 2022 6:00am PDT · 1 comment

Cisco Systems CEO Chuck Robbins told managers earlier this month that the networking hardware pioneer would increase its operating expenses $1 billion over the next 12 months, in part to raise employee pay to stem a rise in departures, said a person with direct knowledge of the situation. Robbins made the surprising comment after the... Cisco Systems CEO Chuck Robbins told managers earlier this month that the networking hardware...