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

Apple Upsets the Shopping Cart - The 411 Podcast

By The Information Staff · Nov 19, 2021 1:54pm PST

This week we continue our special five episode series on The Information 50, our annual list of the most promising startups valued at less than $1 billion. In episode two, executive editor Amir Efrati first talks to reporter Malique Morris about commerce startups worth watching, including a budding rival to Shopify, a fashion marketplace and a... This week we continue our special five episode series on The Information 50, our annual list of...

Art by Haejin Park.

Welcome to The Information Weekend: Where Silicon Valley Logs Off

By Jon Steinberg and Jessica E. Lessin · Nov 19, 2021 12:05pm PST

How does Silicon Valley relax on the weekend?It is a simple question—and, upon a little introspection, a perplexing one. How does the most casual culture on the planet unwind? How do you dress down when you never dress up? What distinguishes life outside the office when your office is your living room, you take meetings from your Peloton... How does Silicon Valley relax on the weekend?It is a simple question—and, upon a little...

Screenshots via TikTok. Art by Mike Sullivan.

Celebrity Kids Thought They Found a Safe Space on TikTok—Then the Knives Came Out

By Annie Goldsmith · Nov 19, 2021 11:30am PST

Sam Williams, an education coordinator for London’s Theatre Royal Windsor, joined TikTok as a casual lockdown activity. The 24-year-old posted his first video with his grandmother in late March 2020, filming her making up joke punchlines (“OK, Ma, how do you sell a pig to a deaf farmer?” Williams asks. His grandmother, yelling: “DO YOU WANT TO... Sam Williams, an education coordinator for London’s Theatre Royal Windsor, joined TikTok as a...

Photos by Christa B. Allen

To Taste the Bleeding Edge of Coffee Culture, Just Add Water

By Nicholas Cho · Nov 19, 2021 11:30am PST · 1 comment

Photos by Christa B. Allen

Market Research

To Taste the Bleeding Edge of Coffee Culture, Just Add Water

By Nicholas Cho · Nov 19, 2021 11:30am PST · 1 comment

Before he was TikTok-famous as Your Korean Dad, Nick Cho was specialty-coffee-famous as the co-founder of San Francisco’s Wrecking Ball Coffee Roasters. Here, he assesses the new Silicon Valley caffeine obsession: highbrow instant coffees. “Each generation thinks it invented sex; each generation is totally mistaken,” wrote sci-fi writer Robert... Before he was TikTok-famous as Your Korean Dad, Nick Cho was specialty-coffee-famous as the...

Art Credit: Vinnie Neuberg

Finished With San Francisco, a Founder Falls in Love With San Juan

By Annie Goldsmith · Nov 19, 2021 11:30am PST

This is “Decamped,” a new series in whichwe catch up with tech executiveswho’ve left major citiesfor less conventional locales.This week’s founderisGillian Morris, 35, founder of discount travel site Hitlist and current tech advisor, who moved from San Francisco to San Juan, Puerto Rico. This is “Decamped,” a new series in whichwe catch up with tech executiveswho’ve left major cities...

Art by Haejin Park. Photo of Altman by Getty.

The Eternal Sunshine of Sam Altman

By Jon Steinberg · Nov 19, 2021 11:30am PST · 6 comments

It’s 10 a.m. on a radiant November morning in San Francisco, when Facetime pings with an unrecognized 917 number. “Hello, Jon, this is DVF.” DVF...DVF...Diane von Fürstenberg! Mother of the wrap dress. Muse of Warhol. Shipmate of Bezos. Wife of Diller. “Oh! Hello!” “I understand you’d like to talk... It’s 10 a.m. on a radiant November morning in San Francisco, when Facetime pings with an...

A Rivian truck being tested by Amazon. Photo YouTube via Amazon.

Amazon’s Testing of Rivian Vans Reveals Questions About Battery Power and Cameras

By Mark Di Stefano · Nov 19, 2021 10:11am PST · 2 comments

The Amazon executive overseeing development of Rivian electric delivery vans says the company is on schedule to put 10,000 of the vans on the road next year, following months of testing in 15 cities. But according to one of the drivers involved with testing the vans, their range is more limited than what Rivian disclosed ahead of its blockbuster... The Amazon executive overseeing development of Rivian electric delivery vans says the company is...

From left: Walt Disney Co.'s Bob Chapek, Kareem Daniel and Peter Rice. Photos by Disney; art by Mike Sullivan

How Disney’s Streaming Pipeline Got Clogged

By Jessica Toonkel · Nov 19, 2021 6:00am PST

From left: Walt Disney Co.'s Bob Chapek, Kareem Daniel and Peter Rice. Photos by Disney; art by Mike Sullivan

How Disney’s Streaming Pipeline Got Clogged

By Jessica Toonkel · Nov 19, 2021 6:00am PST

Earlier this fall, Peter Rice, a top Walt Disney Co. executive responsible for creating television shows for the entertainment giant, gave his lieutenants a pressing message: They needed to start pumping out more new shows for Disney+, the company’s high-profile streaming service, according to people familiar with the discussions. Last... Earlier this fall, Peter Rice, a top Walt Disney Co. executive responsible for creating...

Instagram chief Adam Mosseri at an event in 2019. Photo by Bloomberg.

Instagram Chief’s Comments Come Back to Bite

By Martin Peers · Nov 18, 2021 5:00pm PST

Instagram’s chief Adam Mosseri is learning the hard way that scoffing at politicians who are coming after you is never a good idea. In May he made comments to The Information that were dismissive, if not patronizing, of the role of state attorneys general—and now those remarks have come back to bite him. On Wednesday, a coalition of state... Instagram’s chief Adam Mosseri is learning the hard way that scoffing at politicians who are...

Christina Najjar. Photo: Matthew Misisco

Creator Economy

Creator Startup M&A; Facebook’s Audio Cash; Q&A With Tinx

By Kaya Yurieff · Nov 18, 2021 4:12pm PST

A bout of merger mania is hitting the creator economy. The flurry of recent deals include banking app MoneyLion’s acquisition earlier this week of Malka Media, a startup and content studio that connects advertisers with creators. Also this week, Jellysmack, a startup that helps creators repackage their content for different social media... A bout of merger mania is hitting the creator economy. The flurry of recent deals include banking...

Gemini's Tyler Winklevoss, left, and Cameron Winklevoss. Photo by Bloomberg.

The Week’s Big Crypto Deals: Gemini, ConsenSys, Anchorage

By Hannah Miller · Nov 18, 2021 4:01pm PST · 2 comments

It was a blockbuster week for crypto as companies scored big valuations and raised significant funding. More venture capital is being pumped into the industry as crypto prices rise, institutional investors embrace the industry and buzz grows around potential uses for blockchain technology. The crypto industry is at a pivotal point as it grows... It was a blockbuster week for crypto as companies scored big valuations and raised significant...

Building a Global Brand in the Creator Economy

By The Information Staff · Nov 18, 2021 3:37pm PST

Building a Global Brand in the Creator Economy

By The Information Staff · Nov 18, 2021 3:37pm PST

Creators have established newfound power in the media stream. But how do creators and brands build for a global footprint and infrastructure? The Information hosted an executive roundtable session at the inaugural Creator Economy Summit in partnership with the Consulate General of Canada SF to take a deep dive into the creator ecosystem and... Creators have established newfound power in the media stream. But how do creators and brands...

Sherry Cola, Mark Zuckerberg and Miley Cyrus. Photos by Shutterstock

Facebook Hands Out Cash To Creators To Boost Clubhouse Rival

By Sarah Krouse and Kaya Yurieff · Nov 18, 2021 2:16pm PST

Facebook is offering to pay musicians and other celebrities tens of thousands of dollars to host sessions on its new live audio feature, as the social network beefs up its efforts to woo creators and the young people who follow them. Production companies working for Facebook, owned by Meta Platforms, have contacted music artists and social media... Facebook is offering to pay musicians and other celebrities tens of thousands of dollars to host...

The Nreal Light glasses. Photo: Nreal. Illustration: Mike Sullivan

Nreal Announces U.S. Glasses Launch; Ultraleap’s Tencent Win

By Mathew Olson · Nov 18, 2021 11:00am PST · 1 comment

China’s Nreal has finally set a date and pricing for the U.S. launch of its flagship AR glasses, the Nreal Light. The glasses, which must be connected to a compatible phone via a cable, will be released on November 30, retailing for $599.The glasses will first be sold only at 20 Verizon stores, followed by online sales beginning December 2. For... China’s Nreal has finally set a date and pricing for the U.S. launch of its flagship AR glasses,...

Former Amazon Web Services CEO Andy Jassy, now Amazon's CEO. Photo by Bloomberg

Andy Jassy’s Big Idea for AWS Expansion Marred by Glitches, High Prices

By Kevin McLaughlin · Nov 18, 2021 6:00am PST

Amazon Web Services became a juggernaut by helping companies move their data and applications to the cloud—meaning data centers run by Amazon. But AWS has increasingly gone after another big business: providing software and hardware to power private data centers operated by customers that aren’t ready or may never be ready to move... Amazon Web Services became a juggernaut by helping companies move their data and applications to...

KKR co-founder and co-executive chair Henry Kravis. Photo: Bloomberg.

KKR Plans to Lead Investment in Crypto Firm Anchorage

By Berber Jin, Kate Clark and Hannah Miller · Nov 17, 2021 6:18pm PST · 1 comment

KKR co-founder and co-executive chair Henry Kravis. Photo: Bloomberg.

KKR Plans to Lead Investment in Crypto Firm Anchorage

By Berber Jin, Kate Clark and Hannah Miller · Nov 17, 2021 6:18pm PST · 1 comment

Private equity giant KKR plans to lead a new investment in crypto startup Anchorage, which offers crypto custody, trading and financing services for financial institutions, said two people familiar with the matter. The Series D funding values the San Francisco-based company at about $3 billion including the investment, one person said. ... Private equity giant KKR plans to lead a new investment in crypto startup Anchorage, which offers...

OpenSea's Valuation; Regulation and Investments in India and Southeast Asia

OpenSea's Valuation; Regulation and Investments in India and Southeast Asia

By Mahira Dayal · Nov 17, 2021 5:16pm PST

Earlier this month, OpenSea became the first non-fungible token marketplace to host more than $10 billion in total transactions over its lifetime. Our latest chart shows that the marketplace, which is backed by Andreessen Horowitz, saw its volume shoot up to $3.4 billion in August alone, which is around 10 times higher than it was the previous... Earlier this month, OpenSea became the first non-fungible token marketplace to host more than $10...

An iPhone display. Photo by Bloomberg.

Apple’s Pointless Self-Repair Program

By Martin Peers · Nov 17, 2021 5:00pm PST · 2 comments

The beneficence of Apple knows no bounds. The tech giant is making it easier for ordinary people to repair their iPhones. Under a new program, it will send the parts and tools necessary for iPhone repairs to anyone who asks. Just imagine—this could provide a new source of growth for iPhone sales, as thousands of people attempting DIY repairs... The beneficence of Apple knows no bounds. The tech giant is making it easier for ordinary people...

OpenSea CEO Devin Finzer. Photos by Bored Ape Yacht Club; OpenSea

NFT Marketplace OpenSea Offered $10 Billion Valuation

By Kate Clark and Berber Jin · Nov 17, 2021 3:44pm PST · 2 comments

OpenSea, the most popular marketplace for non-fungible tokens, is fielding new investment offers that could increase its valuation roughly six times to $10 billion or higher, according to two people with direct knowledge of the matter. The New York–based company did not initiate the new fundraising process, which comes just four months... OpenSea, the most popular marketplace for non-fungible tokens, is fielding new investment offers...

Photo: SageSpot, Illustration: Mike Sullivan

How Instagram’s Test to Hide Likes Really Impacted Creators; Fan Membership Startup SageSpot Raises from Khosla

By Kaya Yurieff · Nov 17, 2021 3:09pm PST

Photo: SageSpot, Illustration: Mike Sullivan

Creator Economy

How Instagram’s Test to Hide Likes Really Impacted Creators; Fan Membership Startup SageSpot Raises from Khosla

By Kaya Yurieff · Nov 17, 2021 3:09pm PST

When Instagram first announced it would test hiding likes in 2019, the potential removal of this popularity metric risked hurting the livelihood of social media personalities building followings and businesses on the app. But the impact to creators and business accounts wasn’t as bad as feared, according to internal data from Instagram’s parent... When Instagram first announced it would test hiding likes in 2019, the potential removal of this...