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

Creator Economy

A VC Firm Started by TikTok Stars Expands; Instagram’s London Calling

By Kaya Yurieff · Aug 2, 2022 2:47pm PDT

Creators have long faced problems when other internet users steal their content or don’t give them proper credit. That’s an area where Dylann Berger Katz, who recently joined Animal Capital as a partner, sees opportunity. She’s most interested in investing in “technologies and platforms that allow creators to license out content, that way... Creators have long faced problems when other internet users steal their content or don’t give...

Kat Manalac of Y Combinator speaks during Startupfest in 2019. Photo by Bloomberg

Y Combinator Slashes Startup Accelerator Class Size by 40%

By Kate Clark · Aug 2, 2022 2:14pm PDT

Y Combinator has cut the number of startups it is funding and training this summer by about half compared to its winter program, a spokesperson confirmed. The famed Silicon Valley accelerator responded to a downturn in the economy and in venture capital funding in reducing its class size. The move means as many as 250 companies will pitch... Y Combinator has cut the number of startups it is funding and training this summer by about half...

Tesla employees assembling a car. Photo by Bloomberg.

Tesla Builds Its Own Recruiting Software in Fresh Push to Cut Outside Providers

By Mark Matousek · Aug 2, 2022 6:00am PDT · 11 comments

Tesla has introduced proprietary software for tracking its job applicants, three current and former recruiting employees told The Information, a move that could lower hiring-related costs as CEO Elon Musk follows through on his goal to reduce the electric vehicle maker’s reliance on external software vendors. The move by Tesla marks an... Tesla has introduced proprietary software for tracking its job applicants, three current and...

A Lalamove-branded vehicle in Shanghai, China, 2018. Photo by AP.

Delivery Startup Snags Unexpected Gain From Didi’s Pain: A $13 Billion Valuation

By Juro Osawa · Aug 2, 2022 5:00am PDT

A Lalamove-branded vehicle in Shanghai, China, 2018. Photo by AP.

Delivery Startup Snags Unexpected Gain From Didi’s Pain: A $13 Billion Valuation

By Juro Osawa · Aug 2, 2022 5:00am PDT

Beijing’s sweeping regulatory assault on the domestic tech sector hurt a lot of companies. But for some startups, the government’s moves knocked out the competition. Take Lalamove, a last-mile–delivery startup for business customers whose backers include Sequoia Capital China and Tiger Global Management. When Didi Global,... Beijing’s sweeping regulatory assault on the domestic tech sector hurt a lot of companies....

Art: Mike Sullivan

Creator Economy

Pinterest CEO Ready Gives His Take on Creators; Interview With an Original Robloxer

By Mahira Dayal · Aug 1, 2022 3:46pm PDT

Pinterest joined Meta Platforms and Snap in reporting disappointing second quarter financial results on Monday. Its revenue for the quarter rose 9% to $666 million, less than the 11% it forecast, because of reduced advertising demand from large retailers and mid-sized advertisers. Its global monthly users remained flat compared to the previous... Pinterest joined Meta Platforms and Snap in reporting disappointing second quarter financial...

Oracle's office (and former headquarters) in the San Francisco Bay Area. Photo by Bloomberg

Oracle Axes U.S. Staff, Part of Plan to Lay Off Thousands

By Amir Efrati · Aug 1, 2022 9:42am PDT

Oracle has begun to lay off employees in the U.S., a move that will impact some staff in the San Francisco Bay Area, where the company was previously headquartered, said a person with direct knowledge of the matter. The database pioneer planned thousands of job cuts for its global workforce of 160,000 after discussing cutting $1 billion in... Oracle has begun to lay off employees in the U.S., a move that will impact some staff in the San...

Art by Mike Sullivan

How Netflix Could Help Streaming’s Ad Bottleneck

By Stephen Council · Aug 1, 2022 6:00am PDT

Netflix’s decision to launch an advertising-supported version is a risky move that flings the giant into a business it has resisted for years. But the push—scheduled for next year—has one thing going for it: Advertisers are thirsty for more ways to reach people watching streaming TV and movies online. Cord cutting has left... Netflix’s decision to launch an advertising-supported version is a risky move that flings...

Rivian delivery vans built for Amazon. Photo: Jamie Kelter Davis/Bloomberg

The Electric: Amid the Carnage of EV Startups, New Funds for Battery Makers

By Steve LeVine · Jul 31, 2022 2:00pm PDT

Rivian delivery vans built for Amazon. Photo: Jamie Kelter Davis/Bloomberg

The Electric: Amid the Carnage of EV Startups, New Funds for Battery Makers

By Steve LeVine · Jul 31, 2022 2:00pm PDT

We’re planning our first major event for The Electric, a half-day of hard-core battery discussion before the end of the year. If you’re interested in sponsorship, please contact my colleagues at [email protected]. After a heady two years, electric vehicle and battery stocks have plunged in value as investors have shunned them.... We’re planning our first major event for The Electric, a half-day of hard-core battery discussion...

One Last Unicorn Before We Go: Inside Magic Eden's Pre-Crypto Crash Miracle

One Last Unicorn Before We Go: Inside Magic Eden's Pre-Crypto Crash Miracle

By Jon Steinberg · Jul 30, 2022 8:00am PDT

Hi, welcome to your Weekend! In a week that witnessed a “Category 5 Kardashian-Jenner hurricane” on Instagram, my colleague Annie offers a timely toolkit to reining in your lackluster social media feeds. I probably spend less time scrolling IG and TikTok than my Gen Z coworkers, but I, too, have been shocked at how misaligned my feeds are... Hi, welcome to your Weekend! In a week that witnessed a “Category 5 Kardashian-Jenner...

Screentime: The Solo VC Who Never Lets Her Phone Battery Die

By Margaux MacColl · Jul 30, 2022 6:00am PDT · 5 comments

About a year after founding her solo venture firm in 2018, Day One Ventures founder Masha Bucher started running her $100 million fund almost entirely from her phone. She’s always on the move, jetting from San Francisco to meet founders, to Zurich to see investors, to Peru for vacation. On some work trips, she even leaves her laptop behind,... About a year after founding her solo venture firm in 2018, Day One Ventures founder Masha Bucher...

Katie Haun (left) and Andreessen Horowitz's General Partner Chris Dixon. Photos by The Information, Bloomberg

Andreessen Horowitz’s Dixon Replaces Katie Haun on OpenSea Board

By Aidan Ryan · Jul 29, 2022 5:47pm PDT · 1 comment

In an unexpected move, Andreessen Horowitz General Partner Chris Dixon has joined the board of directors of OpenSea, one of the most highly valued blockchain startups, replacing former Andreessen Horowitz general partner Katie Haun, according to a person with direct knowledge of the matter. Haun, who launched her own crypto-focused investment... In an unexpected move, Andreessen Horowitz General Partner Chris Dixon has joined the board of...

Magic Eden’s co-founders Jack Lu (CEO), Sidney Zhang (CTO), Zhuojie Zhou (Chief Engineer) and Zhuoxun Yin (COO). Art by Clark Miller.

The Magic Eden Miracle: How an NFT Marketplace Soared in the Midst of a Crypto Crash

By Margaux MacColl · Jul 29, 2022 2:00pm PDT · 1 comment

Magic Eden’s co-founders Jack Lu (CEO), Sidney Zhang (CTO), Zhuojie Zhou (Chief Engineer) and Zhuoxun Yin (COO). Art by Clark Miller.

The Magic Eden Miracle: How an NFT Marketplace Soared in the Midst of a Crypto Crash

By Margaux MacColl · Jul 29, 2022 2:00pm PDT · 1 comment

On May 11, investor Shan Shan of Lightspeed Venture Partners spent two hours walking around San Francisco with Jack Lu and Zhuoxun Yin, the Australian-born co-founders of Magic Eden. It was a clear night on the Embarcadero, with the Bay Bridge twinkling in the distance. The crypto boom was still roaring and their stroll should’ve been a victory... On May 11, investor Shan Shan of Lightspeed Venture Partners spent two hours walking around San...

Art by Clark Miller.

Bad Algorithm! How to Retrain Your Social Media Feed

By Annie Goldsmith · Jul 29, 2022 10:00am PDT

The algorithms have some behaviorial issues. All over social media, people are complaining about the content recommendation engines have been spinning up recently. It’s too random. It’s “terrible…unusable…like junk mail.” It’s even, at times, oddly biblical. This is a dramatic reversal from an earlier cultural moment, when Instagram’s and TikTok... The algorithms have some behaviorial issues. All over social media, people are complaining about...

Smrti Lab co-founders Wang Lusho (left) and Wang Bowen

China’s Top Angel Investors Pour $90 Million Into Crypto Hedge Fund, Betting on Recovery in Prices

By Shai Oster · Jul 29, 2022 6:00am PDT

The stomach-churning collapse of cryptocurrency tokens, savings accounts, and hedge fund Three Arrows Capital has wiped out fortunes just as the collapse of the Lehman Brothers investment bank did during the 2008 financial crisis. That means it’s the perfect time to buy cryptocurrencies, according to the founders of a young crypto... The stomach-churning collapse of cryptocurrency tokens, savings accounts, and hedge fund Three...

Apple CEO Tim Cook in June. Photo by Bloomberg

Apple and Amazon’s Not So Horrible Day

By Jessica E. Lessin · Jul 28, 2022 5:05pm PDT

Today was a big day of winners and losers in tech. Losers: a defensive Instagram that walked back a controversial redesign test only a day or so after defending it. (I guess the data jibed with the views of the Kardashians, who panned it.) And then there is Intel, a company that wins points for most honest reaction to a truly poor earnings... Today was a big day of winners and losers in tech. Losers: a defensive Instagram that walked back...

Adam Mosseri, Art: Mike Sullivan

Instagram Pauses Changes to Feed After Week-Long Drama

By Mahira Dayal · Jul 28, 2022 2:00pm PDT

Adam Mosseri, Art: Mike Sullivan

Creator Economy

Instagram Pauses Changes to Feed After Week-Long Drama

By Mahira Dayal · Jul 28, 2022 2:00pm PDT

It’s been quite the week for Instagram. On Thursday, CEO Adam Mosseri said the app will reduce the number of recommended posts in users’ feeds and pause its test of TikTok-like full-screen photos and videos, Platformer reported. This comes after days of online skirmishes with mega-influencers over the recently invoked changes. Here’s a... It’s been quite the week for Instagram. On Thursday, CEO Adam Mosseri said the app will reduce...

A Byd showroom in Beijing. The company led all automakers in sales in China in the first half of 2022. Photo by Bloomberg

The Electric: Foreign Automakers Prepare to Challenge Chinese Brands on Their Home Turf

By Steve LeVine · Jul 28, 2022 11:37am PDT

Today's column is from Dalibor Petkovic, a researcher specializing in Chinese industrial policies. Since 2017, he has focused on the Chinese EV market, as well as smart cities, urban logistics and battery recycling management.Chinese makers of electric vehicles are enjoying their best year for domestic sales in three years, as foreign EV... Today's column is from Dalibor Petkovic, a researcher specializing in Chinese industrial...

Clockwise from top-left: Keith Rabois; Mayor Francis Saurez; Lucy Guo; Animo Ventures founders Antonio Osio and Nico Berardi. Art by Mike Sullivan

After the Hype, Miami Startup Founders, Investors Aim to Show Substance of Tech Scene

By Kate Clark · Jul 28, 2022 6:00am PDT · 2 comments

When Mike Shebat needed seed funding for his startup last year, he went where the money was: a popular fitness studio called Barry’s Bootcamp in Wynwood, Miami’s arts district. Venture capitalist Keith Rabois, a denizen of Barry’s, told Shebat to meet him there after the entrepreneur contacted him over LinkedIn. During and... When Mike Shebat needed seed funding for his startup last year, he went where the money was: a...

SEC Chairman Gary Gensler and Coinbase CEO Brian Armstrong. Art by Mike Sullivan.

The SEC Has a Point, But So Does Coinbase

By Akash Pasricha · Jul 27, 2022 4:21pm PDT

If you follow crypto, you probably find yourself becoming an expert in a few different fields, depending on the day. One day you’re an engineer, the next day you’re an art enthusiast. Some weeks you’re a trader, and this week, you were likely a securities lawyer. It’s been a dizzying week of developments around Coinbase. Its stock has... If you follow crypto, you probably find yourself becoming an expert in a few different fields,...

Sequoia Capital leader Roelof Botha. Photo by Getty; art by Mike Sullivan

Sequoia Capital to Open New York Office, First U.S. Outpost Outside Silicon Valley

By Kate Clark · Jul 27, 2022 12:22pm PDT

Sequoia Capital leader Roelof Botha. Photo by Getty; art by Mike Sullivan

Sequoia Capital to Open New York Office, First U.S. Outpost Outside Silicon Valley

By Kate Clark · Jul 27, 2022 12:22pm PDT

Sequoia Capital, the Menlo Park, Calif.–based venture capital firm known for its early investments in Google and Instagram, plans to open an office in New York City, its first U.S. facility outside Silicon Valley, according to two people with direct knowledge of the matter. The move by Sequoia, the most prominent tech startup investor,... Sequoia Capital, the Menlo Park, Calif.–based venture capital firm known for its early...