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

Art by Mike Sullivan

The Year in Art

The Information’s 22 Unskippable Culture Picks of 2022

By The Information Staff · Dec 23, 2022 11:00am PST · 2 comments

“White Lotus”? Check. Taylor Swift’s “Midnights”? Check. “Top Gun: Maverick”? Yes, of course, check. Those are the clear-cut cultural touchstones of the past year. But as we approach the holiday break, you may want to expand past the usual horizons and click on a podcast, take in a movie or crack open a... “White Lotus”? Check. Taylor Swift’s “Midnights”? Check. “Top...

Jasper founders Dave Rogenmoser, Chris Hull and J.P. Morgan. Art by Clark Miller; photo courtesy Jasper.

The Best Little Unicorn in Texas: Jasper Was Winning the AI Race—Then ChatGPT Blew Up the Whole Game

By Arielle Pardes · Dec 23, 2022 9:15am PST · 27 comments

A few weeks ago, Sam Altman, CEO of artificial intelligence startup OpenAI, logged onto a Zoom call. On the other side of the screen was Dave Rogenmoser, CEO of Jasper, a copywriting startup built on OpenAI’s flagship large-language model, GPT-3. The two companies share a Slack channel, where they trade updates and feedback about GPT-3,... A few weeks ago, Sam Altman, CEO of artificial intelligence startup OpenAI, logged onto a Zoom...

Boring Co. CEO Steve Davis, right, with Elon Musk. Photo by Getty Images

Musk May Have Found a Hardcore Leader for Twitter

By Becky Peterson and Erin Woo · Dec 23, 2022 8:32am PST · 9 comments

Like many new dads, The Boring Company CEO Steve Davis spent the first few weeks of fatherhood sleeping near his partner and newborn. Unlike other new fathers, Davis and his family were sleeping in an office—a makeshift bedroom at Twitter’s San Francisco headquarters, where Davis has spent the past two months acting as a proxy for... Like many new dads, The Boring Company CEO Steve Davis spent the first few weeks of fatherhood...

From left: Amarjit Gill, Johny Srouji, Lip-Bu Tan and Gerard Williams. Photos by Getty; SambaNova; Nuvia. Art by Mike Sullivan

At Apple, a War for Chip Talent Intensifies

By Wayne Ma · Dec 23, 2022 6:00am PST · 7 comments

From left: Amarjit Gill, Johny Srouji, Lip-Bu Tan and Gerard Williams. Photos by Getty; SambaNova; Nuvia. Art by Mike Sullivan

At Apple, a War for Chip Talent Intensifies

By Wayne Ma · Dec 23, 2022 6:00am PST · 7 comments

For more than a decade, Apple’s silicon engineering group has helped give Apple a competitive edge in smartphones and laptops. The custom chips it designs make its products snappier to use or help them eke out an hour or more of extra battery life. Last year, though, Apple’s chip department hit a serious setback. Apple planned a... For more than a decade, Apple’s silicon engineering group has helped give Apple a...

Barry McCarthy and Reed Hastings. Photos by Bloomberg.

Netflix’s Fitness Move May Trip Up Peloton

By Martin Peers · Dec 22, 2022 5:00pm PST

Netflix chief Reed Hastings shouldn’t expect a holiday card from Barry McCarthy this year. The video-streaming giant likely spoiled the Peloton CEO’s Christmas this year with its announcement on Wednesday that it plans to start streaming fitness content from Nike on Dec. 30. Nike doesn’t offer everything that’s on Peloton—particularly when it... Netflix chief Reed Hastings shouldn’t expect a holiday card from Barry McCarthy this year. The...

Chart: Shane Burke

Creator Economy

The Price of Being a Creator Is Going Up

By Kaya Yurieff · Dec 22, 2022 1:04pm PST

First came the layoffs, now come price hikes on creator tools. Startup Gumroad last week announced it would increase the cut it takes from creators’ sales of digital goods such as e-books, courses, memberships and newsletters on its platform. Online course platform Teachable also recently raised the prices of its monthly subscription plans... First came the layoffs, now come price hikes on creator tools. Startup Gumroad last week...

Art by Clark Miller

The Season’s Hottest Toy? Hint: It’s a YouTuber

By Abram Brown · Dec 22, 2022 12:00pm PST

In September, Simon Philips found himself in an uncomfortable situation: seated across the aisle from two small children on a 10-hour work flight from Los Angeles to London. “Oh, god. What are they going to do?” Philips remembers thinking. As a father of two, Philips knows how bored kids can behave. Moreover, he’s spent a... In September, Simon Philips found himself in an uncomfortable situation: seated across the aisle...

Venture Capitalists Want to Save the Planet Again

Venture Capitalists Want to Save the Planet Again

By Kate Clark · Dec 22, 2022 11:00am PST · 1 comment

Venture Capitalists Want to Save the Planet Again

Venture Capitalists Want to Save the Planet Again

By Kate Clark · Dec 22, 2022 11:00am PST · 1 comment

We’ve written so much about venture capitalists rushing to back instant-delivery and direct-to-consumer startups that never created any value and haven’t made a positive impact on the world. That’s why it’s a relief to hear investors are chasing deals in startups tackling climate change again.Brian Halligan, the former CEO of HubSpot, had his... We’ve written so much about venture capitalists rushing to back instant-delivery and...

OpenSea CEO Devin Finzer. Photo by Getty Images

Q&A

OpenSea CEO Wants to Work With Apple on NFT Apps

By Aidan Ryan · Dec 22, 2022 10:53am PST

Reports last week that Apple is considering allowing alternative app stores to comply with new EU regulations could pave the way for a new wave of apps, including those that feature non-fungible tokens. That would be good news for OpenSea, the biggest marketplace for buying and selling NFTs. In an interview with The Information, OpenSea CEO... Reports last week that Apple is considering allowing alternative app stores to comply with new EU...

Art by Clark Miller

Anatomy of a Failure

Everything Must Go: The Inside Story of a Startup’s Sudden, Agonizing Collapse

By Mark Matousek · Dec 22, 2022 9:00am PST · 13 comments

Fridge No More was about to be no more. It was almost midnight on a cold late-winter night in Brooklyn, and there was little movement inside the failing startup’s once-bustling grocery-delivery hub. But Pavel Danilov, Fridge No More’s CEO, couldn’t resist the urge to tidy up. It might have been the muscle memory he had... Fridge No More was about to be no more. It was almost midnight on a cold late-winter night in...

Elon Musk.

Musk Lays Off Some in Twitter Policy Team in New Round of Cuts

By Erin Woo · Dec 22, 2022 7:42am PST

Elon Musk continued to whittle down Twitter’s shrunken workforce on Wednesday night, laying off members of its public policy team, said two people familiar with the matter. Slashing that team could hamper Twitter’s ability to deal with regulators and politicians, even as the Federal Trade Commission investigates its handling of user... Elon Musk continued to whittle down Twitter’s shrunken workforce on Wednesday night, laying...

From left: Meagan Roth, Firefly Aerospace; Brandi Sippel, Muon Space; Will Bruey, Varda Space Industries; Ryan Westerdahl, Turion Space; Tom Mueller, Impulse Space. Source: The companies

How SpaceX Alumni Are Building the Next Generation of Space Startups

By Becky Peterson · Dec 22, 2022 6:00am PST

From left: Meagan Roth, Firefly Aerospace; Brandi Sippel, Muon Space; Will Bruey, Varda Space Industries; Ryan Westerdahl, Turion Space; Tom Mueller, Impulse Space. Source: The companies

How SpaceX Alumni Are Building the Next Generation of Space Startups

By Becky Peterson · Dec 22, 2022 6:00am PST

Elon Musk rose to prominence as a member of the “PayPal mafia,” a nickname for alumni of the digital payments provider who went on to create or work at other important tech startups. Now one of Musk’s companies—rocket maker SpaceX—is also pumping out alumni who are taking on key roles at a growing crop of aerospace... Elon Musk rose to prominence as a member of the “PayPal mafia,” a nickname for alumni...

Photo by Getty Images

YouTube’s Expected NFL Deal Puts Spotlight on Tech’s Streaming Adventures

By Martin Peers · Dec 21, 2022 5:00pm PST

Whoever put together the memo about big tech learning financial discipline appears to have left Alphabet CEO Sundar Pichai off the distribution list. That’s assuming reports that YouTube will pay $2.5 billion a year for the NFL’s Sunday Ticket are accurate. Paying top dollar for live sports programming is a great way to burn cash. DirecTV, which... Whoever put together the memo about big tech learning financial discipline appears to have left...

Devin Finzer. Photo by Getty Images.

OpenSea CEO Devin Finzer on the Future of NFTs and Surviving the Downturn

By Aidan Ryan · Dec 21, 2022 2:19pm PST

At the center of the NFT boom earlier this year was OpenSea, the NFT marketplace that has been the go-to shop for buying and selling NFTs. The company announced a $300 million Series C round in January, notching a $13.3 billion valuation. But since then, trading volumes have dropped more than 90% amid a bear market that has also seen a... At the center of the NFT boom earlier this year was OpenSea, the NFT marketplace that has been...

Photo: Shutterstock

Creator Economy

Deserted Creators Search for New Homes for Newsletters; Twitter Could Break Even

By Mahira Dayal · Dec 21, 2022 2:00pm PST

Both Meta Platforms’ newsletter feature Bulletin and Twitter’s service Revue have announced plans to shut down next year. That means the creators who use those products need to find alternatives—and fast.Meta recruited some creators to write newsletters for the first time. Greg Mania, a comedy writer who published the book “Born to be Public”... Both Meta Platforms’ newsletter feature Bulletin and Twitter’s service Revue have announced plans...

Disney CEO Robert Iger and Warner Bros. Discovery CEO David Zaslav. Photos by Bloomberg, Shutterstock

2023 Will Be Another Difficult Year for Traditional Media

By Andrew A. Rosen · Dec 21, 2022 9:00am PST · 2 comments

Disney CEO Robert Iger and Warner Bros. Discovery CEO David Zaslav. Photos by Bloomberg, Shutterstock

2023 Will Be Another Difficult Year for Traditional Media

By Andrew A. Rosen · Dec 21, 2022 9:00am PST · 2 comments

Parqor is part of The Information’s newsletter network. To receive it in your inbox every Monday, Wednesday and Friday, sign up here. Next year is going to be ugly for public media companies. Cord cutting has reached levels many have long anticipated—an estimated 60 million households still have cable service, down from 95 million in... Parqor is part of The Information’s newsletter network. To receive it in your inbox every...

How Shopify’s Leadership Has Transformed to Battle the E-Commerce Slump

By Ann Gehan · Dec 21, 2022 8:12am PST · 1 comment

As Shopify grapples with the online shopping downturn, the e-commerce giant has revamped its top management ranks to reflect its biggest priorities. Kaz Nejatian, a Shopify product executive who also took on the role of chief operating officer in September, is playing a key role as the company looks to offset slumping growth in its software... As Shopify grapples with the online shopping downturn, the e-commerce giant has revamped its top...

A "zombie" Amazon Fresh store in Lodi, N.J. last week. Photo by Theo Wayt.

‘Zombie’ Amazon Grocery Stores Pile Up as Openings Grind to a Halt

By Theo Wayt · Dec 21, 2022 6:00am PST

For the most part, these Amazon Fresh stores look like they’re ready to open: The lights are on; there are signs for meat, seafood, bread and 15-cent bananas. But the shelves are empty, the doors are locked and no employees are around. Amazon’s pivot from rapid expansion to cost-cutting has left “zombie” grocery stores... For the most part, these Amazon Fresh stores look like they’re ready to open: The lights...

Photo by Getty Images

Europe’s Latest Attacks on Meta and Amazon Make No Sense

By Martin Peers · Dec 20, 2022 5:00pm PST

Whose side are Europe’s antitrust regulators on? Obviously not consumers’. Today’s European Commission settlement with Amazon, which includes provisions that could erode the efficiency of the company’s Prime service, follows in the footsteps of the case the agency outlined against Meta Platforms’ Facebook Marketplace on Monday. In that case,... Whose side are Europe’s antitrust regulators on? Obviously not consumers’. Today’s European...

Famous Birthdays founder Evan Britton. Photo: Courtesy of Subject

The Website That Predicts the Next Top Creators

By Kaya Yurieff · Dec 20, 2022 2:00pm PST

Famous Birthdays founder Evan Britton. Photo: Courtesy of Subject

Creator Economy

The Website That Predicts the Next Top Creators

By Kaya Yurieff · Dec 20, 2022 2:00pm PST

Ten years ago, Evan Britton set out to create a concise version of Wikipedia focused on celebrities. People were shifting from using desktop computers to mobile devices, and he thought Wikipedia pages would be too busy for a phone screen. Then, Britton noticed visitors were instead using his site Famous Birthdays to search for a different... Ten years ago, Evan Britton set out to create a concise version of Wikipedia focused on...