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

Facebook’s iPhone Ad Pain is Google’s Gain

By Sarah Krouse · Mar 31, 2022 10:44am PDT

It’s well known that when Apple last year enabled an iPhone privacy feature that blocks advertisers from tracking users, Facebook parent Meta Platforms suffered. What’s also becoming clearer: Google was among the biggest beneficiaries of Facebook’s pain. This month, nearly a year after Apple’s privacy rule went into... It’s well known that when Apple last year enabled an iPhone privacy feature that blocks...

Peter Chernin. Photo by Bloomberg.

Chernin Looks to Acquire TV Studios in Expansion Plan

By Jessica Toonkel · Mar 31, 2022 9:22am PDT · 1 comment

Media mogul Peter Chernin wants to expand aggressively in film and TV production. Chernin, a former top executive at Rupert Murdoch’s empire who has built his own media fiefdom over the past decade, is scouting for acquisitions that could scale his company to a point where it could go public in the next three years, according to people... Media mogul Peter Chernin wants to expand aggressively in film and TV production. Chernin, a...

Signage at Qualcomm headquarters in San Diego. Photo: Bloomberg.

Why Qualcomm Failed to Land Meta as Its Flagship AI Chip Customer

By Stephen Nellis · Mar 31, 2022 6:00am PDT

Qualcomm is the world’s biggest supplier of mobile phone processors, having perfected the art of packing computing capability into power-efficient chips. In 2019, the San Diego company declared its ambitions to use its energy efficiency expertise to break into the fast-growing market for the artificial intelligence chips used in data... Qualcomm is the world’s biggest supplier of mobile phone processors, having perfected the...

Amir Haleem, CEO and co-founder of Nova Labs. (Photo Credit: Nova Labs. Artwork: Mike Sullivan)

Helium Becomes Nova Labs and Reaches Unicorn Status

By Akash Pasricha · Mar 30, 2022 5:18pm PDT

Amir Haleem, CEO and co-founder of Nova Labs. (Photo Credit: Nova Labs. Artwork: Mike Sullivan)

Helium Becomes Nova Labs and Reaches Unicorn Status

By Akash Pasricha · Mar 30, 2022 5:18pm PDT

Crypto’s newest unicorn is marking the occasion with a new name, but the decision is more than just a branding choice. Helium Inc., the company behind the Helium blockchain network, said Wednesday it would now be known as Nova Labs. The newly named startup announced it closed $200 million in an all-equity funding round at a $1.2 billion... Crypto’s newest unicorn is marking the occasion with a new name, but the decision is more than...

Apple's headquarters in Silicon Valley. Photo by Bloomberg.

Apple Shouldn’t Reinvent the Wheel in Financial Services

By Martin Peers · Mar 30, 2022 5:00pm PDT

Sometimes it seems that the top executives of big tech companies are deliberately taunting antitrust regulators around the world. Bloomberg’s scoop today that Apple is “developing its own payment processing technology” is sure to intensify questions at the European Commission and the U.S. Justice Department about whether the iPhone maker is... Sometimes it seems that the top executives of big tech companies are deliberately taunting...

Cuy Sheffield, head of crypto at Visa. Photo: Visa

Creator Economy

Creator Economy Startups Catch Web3 Fever; Visa Launches NFT Program

By Kaya Yurieff · Mar 30, 2022 2:00pm PDT

The overlap between the creator economy and crypto is hard to ignore. Every week, I receive pitches from startups billing themselves as companies that touch a combination of creators, NFTs, Web3 and, in some cases, also the metaverse. The growing buzz around the creator economy and Web3 – often described as a decentralized,... The overlap between the creator economy and crypto is hard to ignore. Every week, I receive...

The new prototype from Mojo, a hard contact lens with a display, sensors, radio, and batteries. Photo: Mojo Vision.

Mojo Vision’s New AR Contact Lens Prototype; Nreal Raises $60 Million from Alibaba

By Mathew Olson · Mar 30, 2022 11:00am PDT

Mojo Vision, the Saratoga, CA-based startup working on AR contact lenses, has reached a new development milestone. The company said today it has completed an “advanced prototype” of its contact lenses featuring all the components needed to drive their AR functions, from batteries and an accelerometer to the super-small display that sits at the... Mojo Vision, the Saratoga, CA-based startup working on AR contact lenses, has reached a new...

Fast HQ in San Francisco. Photo by Fast.

Stripe-Backed Fast Puts Job Cuts on the Table as It Tries to Raise Money

By Malique Morris and Kate Clark · Mar 30, 2022 10:30am PDT · 1 comment

Fast HQ in San Francisco. Photo by Fast.

Stripe-Backed Fast Puts Job Cuts on the Table as It Tries to Raise Money

By Malique Morris and Kate Clark · Mar 30, 2022 10:30am PDT · 1 comment

Domm Holland, CEO of one-click checkout startup Fast, is telling potential new investors that the company plans to cut hundreds of jobs, a person with direct knowledge of the matter told The Information. The cuts would mark a dramatic setback for the three-year-old Fast, which has raised a total of $124 million from payments giant Stripe and... Domm Holland, CEO of one-click checkout startup Fast, is telling potential new investors that the...

Art by Mike Sullivan

We Need a 911 for the Metaverse

By Brittan Heller · Mar 30, 2022 9:00am PDT · 1 comment

You’re walking down the street when someone jumps out of the shadows, knocks you down and steals your wallet. Or maybe you’re in a crowded bus and feel a stranger’s hand trying to force its way inside your clothing. What do you do? In the U.S., you’d call 911 to reach the police. But what if 911 were a different number in... You’re walking down the street when someone jumps out of the shadows, knocks you down and...

Illustration by Josh Brill

Creator Economy Startups Hop on the Web3 Bandwagon

By Kaya Yurieff · Mar 30, 2022 7:00am PDT · 4 comments

Since the end of last summer, investors have peppered Nick Gerard, co-founder and CEO of a company called Norby that makes marketing tools for creators, with the same question: What are his startup’s Web3 plans? Web3—a catchall term for technologies built atop the decentralized blockchains first used by cryptocurrencies—has... Since the end of last summer, investors have peppered Nick Gerard, co-founder and CEO of a...

Lachy Groom. Photo by Getty Images.

Solo Venture Capitalists Go Big

By Kate Clark · Mar 30, 2022 6:00am PDT · 3 comments

Solo venture capitalists, a growing breed of individual tech investors who compete with traditional Silicon Valley venture capital firms, are raising bigger funds, writing larger checks and beefing up staff even as worsening macroeconomic conditions push down startup valuations and force cost cutting. Lachy Groom, a former Stripe product leader... Solo venture capitalists, a growing breed of individual tech investors who compete with...

Enovix's silicon cell containment system. Photo: Courtesy Enovix

The Electric Flash Analysis: Enovix Claims Safety and Energy Density Breakthroughs for Silicon-Based Batteries

By Steve LeVine · Mar 30, 2022 4:30am PDT

Enovix's silicon cell containment system. Photo: Courtesy Enovix

The Electric Flash Analysis: Enovix Claims Safety and Energy Density Breakthroughs for Silicon-Based Batteries

By Steve LeVine · Mar 30, 2022 4:30am PDT

Enovix, a Fremont, Calif., battery company, claimed this week that its silicon anode can outdo rival pure lithium-metal technology, which has gained favor among major automakers searching for the next generation of batteries to power electric vehicles.The company’s chief technology officer, Ashok Lahiri, said Enovix’s silicon-based battery... Enovix, a Fremont, Calif., battery company, claimed this week that its silicon anode can outdo...

GoPuff advertisements in NYC. Photo by Business Wire

Gopuff Plans Hundreds of Layoffs to Cut $40 Million in Costs

By Berber Jin · Mar 29, 2022 5:34pm PDT · 1 comment

Gopuff, the instant-delivery company valued at $15 billion last fall, is preparing to lay off hundreds of employees, or around 3% of its global workforce, said a person with knowledge of the matter. The cuts are part of an effort to reduce annual head count costs by at least $40 million, said another person who was briefed about the move. The... Gopuff, the instant-delivery company valued at $15 billion last fall, is preparing to lay off...

BlockFi Chief Security Officer Adam Healy. Photo: BlockFi. Art by Mike Sullivan

BlockFi Security Chief on the State of Cybersecurity Hiring; Celsius Hires New CTO (Exclusive)

By Aidan Ryan · Mar 29, 2022 5:19pm PDT

Security is a top concern for crypto companies, particularly as high-profile hacks and data breaches lead to billions of dollars in stolen assets. Tuesday, the Ronin Network—the blockchain protocol and network that powers the popular video game Axie Infinity—said hackers had stolen more than $600 million in one of the largest crypto hacks ever.... Security is a top concern for crypto companies, particularly as high-profile hacks and data...

Microstrategy chairman Michael Saylor, on the left, at a bitcoin conference last year. Photo by Bloomberg.

Microstrategy’s All-or-Nothing Bitcoin Bet

By Martin Peers · Mar 29, 2022 5:00pm PDT

Question: What is today’s best definition of a gambler? Answer: someone who buys shares in Microstrategy. That's the analytics software firm which in the past two years has decided to put almost every cent it can find into bitcoin. As of Feb. 14, its total BTC investment amounted to $3.77 billion, about 20 times the cash Microstrategy’s software... Question: What is today’s best definition of a gambler? Answer: someone who buys shares in...

Credit: Bloomberg

The Startups Taking on Creator Taxes; OnlyFans’ SPAC Plans

By Mahira Dayal · Mar 29, 2022 3:22pm PDT

Credit: Bloomberg

Creator Economy

The Startups Taking on Creator Taxes; OnlyFans’ SPAC Plans

By Mahira Dayal · Mar 29, 2022 3:22pm PDT

The April 18 tax deadline could mean a last-minute scurry by creators to upload dozens of payment forms from brand sponsorships and advertising payouts from social media apps. About five startups in our Creator Economy Database—including FlyFin, Lili, Collective, KeeperTax and Catch—address the particular challenges facing online creators by... The April 18 tax deadline could mean a last-minute scurry by creators to upload dozens of payment...

Adobe CEO Shantanu Narayen. Photo: Bloomberg.

Adobe Buys Brio XR; VR Game Studio nDreams Raises $35 Million

By Mathew Olson · Mar 29, 2022 11:00am PDT

Adobe isn’t wasting any time implementing its metaverse growth strategy. We learned Monday that Adobe is buying Toronto-based startup Brio XR, maker of a set of no-code cloud-based tools for presenting 3D content on the web or with AR/VR. The deal could help Adobe pair its growing set of 3D tools with publishing tools suited to social media and... Adobe isn’t wasting any time implementing its metaverse growth strategy. We learned Monday that...

Photo by Fast.

Why Stripe’s ‘Fast’ Horse Is Losing the One-Click Checkout Race

By Malique Morris · Mar 29, 2022 6:00am PDT · 7 comments

Several startups have been racing to sell software known as one-click checkout to retailers such as The Honest Company and Forever 21 to speed up how their customers pay for products online. But Fast, the only startup in the field backed by payments provider Stripe, has been slow to grow its business and is far behind rivals. The San... Several startups have been racing to sell software known as one-click checkout to retailers such...

Arcade Co-Founder and CEO Gabe Frank. Photo: Fred Marcus Studio. Art by Mike Sullivan

How a NFT-Backed Loan Startup Is Like a Pawn Shop; Biden’s Crypto Plan

By Aidan Ryan · Mar 28, 2022 5:27pm PDT

Gabe Frank, the co-founder and CEO of NFT-backed loan provider Arcade, likens his startup to the pawn shops, owned by his dad in El Paso, Texas, that he worked at growing up.“What they do is they enable liquidity, they take custody of the asset, they make a loan. If the borrower doesn't come back, then the pawn shop keeps the asset and they can... Gabe Frank, the co-founder and CEO of NFT-backed loan provider Arcade, likens his startup to the...

Apple CEO Tim Cook at Sunday's Academy Awards. Photo by AP

Apple is Playing a Different Streaming Game To Netflix

By Martin Peers · Mar 28, 2022 5:00pm PDT

Apple CEO Tim Cook at Sunday's Academy Awards. Photo by AP

Apple is Playing a Different Streaming Game To Netflix

By Martin Peers · Mar 28, 2022 5:00pm PDT

Get me Zack or Jamie! You can bet there was a mad rush among Hollywood agents trying to get Apple TV+ chieftains Zack Van Amburg and Jamie Erlicht on the phone today. To imagine the scene, just picture those lines that used to wrap around Apple stores on iPhone release days. Yes, Sunday night’s Best Picture Oscar win for “CODA” will put the... Get me Zack or Jamie! You can bet there was a mad rush among Hollywood agents trying to get Apple...