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

Peloton executives when the company went public in 2019. Photo by Bloomberg.

Tech Stock Slump Hits 2021 Stock Comp

By Martin Peers · Jan 24, 2022 5:00pm PST

Tech company managers have some interesting compensation discussions coming up with their direct reports, thanks to the bear market affecting much of tech. If those subordinates receive annual awards of stock or options, they’ll very likely hear both good and bad news. The good news is that grants made this year will have lots of upside as the... Tech company managers have some interesting compensation discussions coming up with their direct...

Photo credit: AP

Creator Economy

TikTok Creators Air Grievance Over Fund Payouts

By Mahira Dayal · Jan 24, 2022 4:17pm PST · 2 comments

TikTok has long been cloudy about how the money in its $1 billion Creator Fund, announced July 2020, is distributed. Some creators have told us they generate meager earnings through the fund, despite accumulating millions of views on the app. In recent days, they’ve used their social media megaphones to draw attention to their... TikTok has long been cloudy about how the money in its $1 billion Creator Fund, announced July...

Container ships and bulk carriers offshore from Singapore. Photo by Bloomberg

Startup Powering China’s Consumer Export Blitz in Talks to Raise $800 Million

By Juro Osawa · Jan 24, 2022 12:28pm PST

Xingyun Group, a seven-year-old startup that helps Chinese makers of everything from Bluetooth speakers to laundry detergent sell directly to overseas consumers, is in talks with investors to raise $800 million, and it is seeking a pre-money valuation of $5 billion, according to two people with knowledge of the matter. The startup is... Xingyun Group, a seven-year-old startup that helps Chinese makers of everything from Bluetooth...

A 3D face rendered and animated in real-time with Ziva's ZRT Face Trainer tech. Credit: Ziva Dynamics.

Unity Buys Ziva in Photoreal 3D Race; Game Makers Balk at Metaverse

By Mathew Olson · Jan 24, 2022 11:00am PST

A 3D face rendered and animated in real-time with Ziva's ZRT Face Trainer tech. Credit: Ziva Dynamics.

Unity Buys Ziva in Photoreal 3D Race; Game Makers Balk at Metaverse

By Mathew Olson · Jan 24, 2022 11:00am PST

Game engine maker Unity is acquiring Ziva Dynamics, a company that uses machine learning to make more lifelike and efficient models of human characters. Its tech opens the door to creating hyper-detailed characters (and not just photorealistic ones) for games and AR/VR apps while also more easily letting those characters interact with users in... Game engine maker Unity is acquiring Ziva Dynamics, a company that uses machine learning to make...

Art by Mike Sullivan

Tech’s Great Headhunter Shortage: Employers Shower Recruiters With Better Pay, Benefits

By Mark Matousek · Jan 24, 2022 6:00am PST · 2 comments

In the middle of 2020, not long after the Covid-19 pandemic began sparking layoffs across the country, Joe Price watched as eight members of the recruiting department at an automotive software company he worked for lost their jobs. It turned out to be a fleeting downturn in his field. By the end of the year, tech companies were bombarding Price... In the middle of 2020, not long after the Covid-19 pandemic began sparking layoffs across the...

VW is aiming the ID.4 at mainstream consumers. Photo: Liesa Johannssen-Koppitz/Bloomberg

What GM, Ford and VW Need to Do to Avoid Selling EVs At a Loss

By Steve LeVine · Jan 23, 2022 2:00pm PST

Welcome back to The Electric! The spiking cost of battery metals is wreaking havoc on the expected economics of early electric vehicles. This week, we look at some of the strategies the automakers will have to undertake to avoid huge losses on their sales. Major automakers seem prepared to proceed on schedule with the collective launch... Welcome back to The Electric! The spiking cost of battery metals is wreaking havoc on the...

Art by Haejin Park. Photograph courtesy of Caroline Spiegel.

The Information Weekend: The Queen of Audio Porn; the Temptation of the Sneakerheads; a Heretical Wedding; and Parentverse Takes Your Kid Questions

By Jon Steinberg · Jan 22, 2022 8:21am PST

Hi, welcome to your Weekend!With apologies to next month’s annual Hallmark holiday, the theme of this weekend’s issue is love. Annie writes about a well-connected founder building an audio platform for better self-love. Malique talks to sneakerheads about their love of fresh Nikes and Adidas, and asks whether that love will translate... Hi, welcome to your Weekend!With apologies to next month’s annual Hallmark holiday, the theme of...

Photos courtesy Delian Asparouhov and Nadia Eghbal.

Meet the Couple Who Got Surprise-Married at Peter Thiel’s Hereticon Conference

By Margaux MacColl · Jan 22, 2022 7:00am PST · 8 comments

Photos courtesy Delian Asparouhov and Nadia Eghbal.

Scene and Heard

Meet the Couple Who Got Surprise-Married at Peter Thiel’s Hereticon Conference

By Margaux MacColl · Jan 22, 2022 7:00am PST · 8 comments

This year, Peter Thiel’s Hereticon conference changed lives. Some attendees left with fresh tattoos and piercings, others with a newfound belief in UFOs. But Delian Asparouhov and Nadia Eghbal arguably made the greatest leap of all: Between speeches about sex rings and sessions on hypnosis, the couple squeezed in a wedding. From the start,... This year, Peter Thiel’s Hereticon conference changed lives. Some attendees left with fresh ...

A trader on the floor of the New York Stock Exchange. Photo by Bloomberg

Netflix Stock Slump Drags Down TV Stocks

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

Greetings!Another day, another market sell-off. And things are getting a little indiscriminate. Take today’s 5% to 7% drop in the stocks of Disney, Discovery and ViacomCBS, apparently triggered by a 22% plunge in the price of Netflix. It’s a little like a teacher punishing an entire class for the misdeeds of one student. Penalizing TV stocks for... Greetings!Another day, another market sell-off. And things are getting a little indiscriminate....

Art by Mike Sullivan

Advertisers Love TikTok. Now They’re Looking to Double Their Spending on It.

By Sahil Patel · Jan 21, 2022 2:21pm PST

A top ad agency will triple its spending on TikTok this year to 5% of its roughly $2 billion social media ad budget, and TikTok’s share of the budget will double to 10% in 2023, a senior executive at the agency told The Information. At another ad agency, Mekanism, spending on TikTok has gone from zero a few years ago to roughly... A top ad agency will triple its spending on TikTok this year to 5% of its roughly $2 billion...

Art by Haejin Park.

Dear Parentverse: My 8-Year-Old Is Clamoring for Animal Crossing Amiibos—Any Reason to Say No?

By Emily Dreyfuss · Jan 21, 2022 12:00pm PST · 2 comments

This is Parentverse, The Information Weekend’s advice column for tech-savvy parents. Email us your questions at [email protected]. Or, if you don’t mind sharing them with your fellow subscribers, post them in the comments below. Dear Parentverse: My 8-year-old loves the game Animal Crossing, and she keeps pestering me about getting... This is Parentverse, The Information Weekend’s advice column for tech-savvy parents. Email us...

Illustration by Josh Brill.

The Shoe Industry Is Hyping Virtual Sneakers for the Metaverse. So Far, Real Sneakerheads Aren’t Buying

By Malique Morris · Jan 21, 2022 12:00pm PST

Illustration by Josh Brill.

The Shoe Industry Is Hyping Virtual Sneakers for the Metaverse. So Far, Real Sneakerheads Aren’t Buying

By Malique Morris · Jan 21, 2022 12:00pm PST

TJ Keasal has been dressing up her videogame characters in new-release Nikes and Adidas since she was in middle school. Long before Fortnite let players outfit their avatars, Keasal, a 32-year-old Michigan native, would win tokens in games like NBA Live and use them to upgrade her players’ on-court style with whatever was hottest at the time, be... TJ Keasal has been dressing up her videogame characters in new-release Nikes and Adidas since she...

Art by Haejin Park. Photo courtesy Caroline Spiegel.

Caroline Spiegel’s Porn Revolution

By Annie Goldsmith · Jan 21, 2022 12:00pm PST · 8 comments

Birds chirp and wind rustles through leaves—the sounds of early fall. “Man, it’s beautiful out here,” remarks a deep, crackly male voice. “All the trees, the green. The leaves are just starting to turn colors. “What are you looking at me like that for?” he continues, chuckling. “No, I know that look. You are up to something naughty. “Whoa, whoa,... Birds chirp and wind rustles through leaves—the sounds of early fall. “Man, it’s beautiful out...

Susanne Daniels. Photo by Bloomberg. Art by Mike Sullivan

Why YouTube Sees Hollywood’s Future in the Creator Economy

By Andrew A. Rosen · Jan 21, 2022 10:00am PST

Tuesday’s letter from YouTube Chief Business Officer Robert Kyncl to its 2 million–strong creator community—announcing that original content chief Susanne Daniels had resigned—read like the final salvo in YouTube’s recent PR campaign touting its creator economy successes. Consider: When Daniels started in her role... Tuesday’s letter from YouTube Chief Business Officer Robert Kyncl to its 2...

Image: Gopuff

Inside Gopuff’s Ambitious and Costly Bid to Dominate European Instant Delivery

By Mark Di Stefano and Berber Jin · Jan 21, 2022 6:00am PST

Executives at Gopuff, a U.S. instant-delivery company that has planned to go public this year, recently told investors that its foray into Europe, which began last year, has topped expectations: The business is on pace to generate $100 million in annual revenue there, or about 5% of its overall revenue currently, and is growing three times... Executives at Gopuff, a U.S. instant-delivery company that has planned to go public this year,...

Peloton bikes in a company store. Photo by Bloomberg.

Why Apple Will Buy Peloton

By Martin Peers · Jan 20, 2022 5:00pm PST · 4 comments

Peloton bikes in a company store. Photo by Bloomberg.

Why Apple Will Buy Peloton

By Martin Peers · Jan 20, 2022 5:00pm PST · 4 comments

Tim Cook, please call Peloton’s head office. Today’s CNBC scoop that Peloton has temporarily halted production of its bikes and treadmills feels like the prelude to an acquisition of the troubled fitness equipment maker. Surely Apple must be the obvious buyer if it comes to that. Judging by Peloton’s 24% stock plunge today to $24.22—85% below... Tim Cook, please call Peloton’s head office. Today’s CNBC scoop that Peloton has temporarily...

Andreessen Horowitz co-founder Ben Horowitz. Photo by Bloomberg.

Andreessen Horowitz Targets Record-Breaking Crypto Fund; Twitter and Meta Explore NFT Features

By Akash Pasricha · Jan 20, 2022 4:35pm PST

Andreessen Horowitz is set to regain its position as the creator of the largest crypto fund to date. The venture capital giant is planning to raise $4.5 billion for two new cryptocurrency funds, according to the Financial Times. A $3.5 billion fund will continue its crypto investments and a $1 billion fund will target seed-stage digital asset... Andreessen Horowitz is set to regain its position as the creator of the largest crypto fund to...

Workweek co-founders Adam Ryan and Becca Sherman. Photo: Sarah Karlan

Creator Economy

Workweek Launches Venture Fund Where Creators Source the Deals

By Kaya Yurieff · Jan 20, 2022 3:27pm PST

We recently wrote about the rise of creators on cap tables and how founders are eager to tap into their audiences and know-how. But not all creators are in a financial position to invest, while others are unfamiliar with navigating the process. Workweek, a media startup that works with business-focused creators, saw an opportunity to get... We recently wrote about the rise of creators on cap tables and how founders are eager to tap into...

A detailed city simulation made to promote the new "Matrix" film. Credit: Epic Games.

What a Veteran VR Philosopher Thinks of the Metaverse; Google’s Project Iris

By Mathew Olson · Jan 20, 2022 11:20am PST

David Chalmers, a professor of philosophy and neural science at NYU, has been studying the potential of life in VR for years, long before Mark Zuckerberg promised to build virtual worlds that make people “feel present” and totally immersed. And in a new book, he says he believes that while it’s already possible to have good experiences in... David Chalmers, a professor of philosophy and neural science at NYU, has been studying the...

Photo by Flickr/Mike Mozart

FTC Pursues TurboTax Fraud Case Despite Supreme Court Mauling

By Josh Sisco · Jan 20, 2022 8:00am PST · 1 comment

Photo by Flickr/Mike Mozart

FTC Pursues TurboTax Fraud Case Despite Supreme Court Mauling

By Josh Sisco · Jan 20, 2022 8:00am PST · 1 comment

For three years, the Federal Trade Commission and state attorneys general have tried to exact financial and other penalties from Intuit, maker of TurboTax. The case stems from the company’s decision—first reported by ProPublica—to not inform millions of paying, low-income TurboTax customers that they could use the app to file... For three years, the Federal Trade Commission and state attorneys general have tried to exact...