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

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Recent Editions

Joby Aviation is likely to have the first certified electric flying taxi in the U.S. Photo: Courtesy Joby

The Electric: One Step Forward for Air Taxis, but a Long Road Ahead

By Steve LeVine · Nov 27, 2022 2:00pm PST

This Thursday: The U.S. is putting down hundreds of billions of dollars on one of the biggest technological bets in the world—that it can establish its own battery industry, and halt its dependence on China. To hear the inside story of how the U.S. is doling out the money, I'm excited to host Jigar Shah, director of the $250 billion... This Thursday: The U.S. is putting down hundreds of billions of dollars on one of the biggest...

Long Holiday Gifts, Short FTX Tokens

Long Holiday Gifts, Short FTX Tokens

By Jon Steinberg · Nov 26, 2022 7:00am PST

Hi, welcome to your Weekend!The official opening of holiday gifting season is upon us, so we meet the moment as we always do—by shaking down our colleagues for gift suggestions. Our subscribers are obviously discerning, so we take gift tips seriously. I was able to knock off half of my list already by following our staff’s recommendations.... Hi, welcome to your Weekend!The official opening of holiday gifting season is upon us, so we meet...

Art by Clark Miller. Photo courtesy of Alexander Gallego.

The Founder Who Turned His Love of Tinkering Into a Data-Processing Gold Mine

By Arielle Pardes · Nov 26, 2022 6:00am PST · 6 comments

When Alexander Gallego started his first company in 2014, he approached it with the same determination he’d used to learn English as a teenager, or to navigate the admissions process as a first-generation college student: “I just had to figure it out,” he said. “I had no backup plan.” Gallego, who was born in... When Alexander Gallego started his first company in 2014, he approached it with the same...

Art by Clark Miller.

The Information’s Top Tech-Adjacent Gifts for 2022

By The Information Staff · Nov 25, 2022 9:00am PST · 2 comments

Art by Clark Miller.

The Information’s Top Tech-Adjacent Gifts for 2022

By The Information Staff · Nov 25, 2022 9:00am PST · 2 comments

After the roller-coaster ride of the past month, everyone needs a little retail therapy. So, in honor of Black Friday and the upcoming holiday season, we’ve put together our annual gift guide, asking The Information’s staffers to share their favorite tech and tech-adjacent purchases of the last year. The results range from the... After the roller-coaster ride of the past month, everyone needs a little retail therapy. So, in...

Art by Clark Miller

‘I’m Licking My Chops. I Know It’s Going Down’: The Pissed-Off Crypto Traders Who Predicted—and Profited From—the FTX Implosion

By Margaux MacColl · Nov 25, 2022 7:00am PST · 8 comments

Ishan Bhaidani had been patient for over a month, waiting for blood in the water. Now was his moment. It was the late hours of Nov. 7 and he was in his home office in San Antonio, Texas, staring at a chart on TradingView. The price of the FTT token—the cryptocurrency created by FTX—had been fluctuating oddly on the futures market all... Ishan Bhaidani had been patient for over a month, waiting for blood in the water. Now was his...

Erin Yuan of Zoom. Photo by Bloomberg.

Zoom Could Draw Suitors Even Though Customers Are Balking at Software Bundles

By Martin Peers · Nov 23, 2022 5:00pm PST · 5 comments

Spare a thought for Covid-19 sufferers this Thanksgiving who have to spend the holiday connecting with friends and family on Zoom. Spare another thought for Zoom Video Communications shareholders, who’ve watched while the stock has plummeted 87% from its pandemic highs as the company’s revenue growth has decelerated like a car hitting a sudden... Spare a thought for Covid-19 sufferers this Thanksgiving who have to spend the holiday connecting...

YouTubers Amber Scholl, AllyiahsFace and Mai Pham hosting a live shopping event on YouTube. Photo via YouTube.

Creator Economy

Social Media Platforms’ Shopping Priorities; AI-Generated Art on the Rise

By Mahira Dayal · Nov 23, 2022 1:30pm PST

Black Friday and the extended retail flurry in November have traditionally been a good time for tech companies to test new shopping formats. Last year, Twitter announced the debut of its shopping livestream featuring Walmart merchandise, while YouTube for the first time offered a week-long live shopping pop-up with creators. This year’s holiday... Black Friday and the extended retail flurry in November have traditionally been a good time for...

Chainalysis CEO Michael Gronager. Photo by Bloomberg

Bankruptcies Boost Analytics Startups—For Now; Sequoia’s Black Eye

By Aidan Ryan · Nov 23, 2022 1:00pm PST

Chainalysis CEO Michael Gronager. Photo by Bloomberg

Bankruptcies Boost Analytics Startups—For Now; Sequoia’s Black Eye

By Aidan Ryan · Nov 23, 2022 1:00pm PST

The FTX collapse has left many customers in limbo, with billions of dollars stuck on the bankrupt exchange. And contagion has been spreading to firms including BlockFi and Genesis, as I mapped out last week. But high-profile implosions have been good for business in one corner of the crypto world: The analytics firms that are helping... The FTX collapse has left many customers in limbo, with billions of dollars stuck on the bankrupt...

Animation by Clark Miller

By Day, Elon Musk Rules Twitter—by Night, He’s Invading Our Dreams

By Zara Stone · Nov 23, 2022 12:00pm PST · 4 comments

Elon Musk made his first speaking appearance in Aaron Neyer’s dream life one night in mid-November. Neyer, a developer relations engineer at Google, dreamt that he was inside Twitter’s San Francisco headquarters, where he spotted Musk exiting a meeting. He rushed over to the new Twitter owner and sounded out Musk’s... Elon Musk made his first speaking appearance in Aaron Neyer’s dream life one night in...

Alfred Lin. Photo by Getty Images.

The Star Sequoia Investor Behind FTX’s Collapse

By Kate Clark · Nov 23, 2022 11:00am PST · 2 comments

Last week, Sequoia Capital partner Doug Leone compared FTX’s blowup to childbirth. “Like having a child, you forget the pain of having that child three months later, a year later,” he said on stage at a conference in Europe.Leaving aside the strange and inappropriate metaphor, Sequoia should not “forget the pain” FTX has caused in three months... Last week, Sequoia Capital partner Doug Leone compared FTX’s blowup to childbirth. “Like having a...

Zach Dexter, CEO of LedgerX. Photo via LedgerX.

This FTX Unit May Help Customers Recover Some of Their Losses

By Akash Pasricha · Nov 23, 2022 10:34am PST

The collapse of cryptocurrency exchange FTX has cost investors billions of dollars and dealt a stunning blow to venture capital firms. Now, creditors' hopes to recover some of those losses rest in part on LedgerX, a lesser-known unit that offered cryptocurrency derivatives. LedgerX is one of the few FTX subsidiaries that did not file for... The collapse of cryptocurrency exchange FTX has cost investors billions of dollars and dealt a...

Chuck Robbins, CEO of Cisco. Photo by Bloomberg

Cisco Faces Resistance to Software Bundles from Cost-Conscious Companies

By Aaron Holmes · Nov 23, 2022 6:00am PST · 5 comments

Chuck Robbins, CEO of Cisco. Photo by Bloomberg

Cisco Faces Resistance to Software Bundles from Cost-Conscious Companies

By Aaron Holmes · Nov 23, 2022 6:00am PST · 5 comments

For years, Cisco has relied on a widely used tactic to drive sales: The enterprise tech giant pitches customers on large bundles of products that include everything from its core networking products to more peripheral offerings from its sprawling portfolio, such as security software and its Webex videoconferencing app. But now customers are... For years, Cisco has relied on a widely used tactic to drive sales: The enterprise tech giant...

Photo by Bloomberg

Why an Activist Investor Might Show Up at Amazon

By Martin Peers · Nov 22, 2022 5:00pm PST · 1 comment

Sandwiched between the rapid-fire series of news reports last week about the FTX collapse and Elon Musk’s Twitter immolation were the layoffs at Amazon, which these days might seem par for the tech industry course. But what was significant about the Amazon cuts wasn’t just the fact that they happened. It was the incidental revelations from... Sandwiched between the rapid-fire series of news reports last week about the FTX collapse and...

Patreon CEO Jack Conte. Photo: Bloomberg

Creator Economy

How Patreon’s Leadership Team Stacks Up on Diversity; Student Athletes Rake in Cash

By Kaya Yurieff · Nov 22, 2022 2:00pm PST

Tiffany Stevenson, chief people officer of Patreon, announced internally earlier this month that she would leave the membership platform for creators and fans at the end of November. Her departure leaves the startup without a single woman among its vice presidents, senior vice presidents and C-suite officers, according to a new org chart... Tiffany Stevenson, chief people officer of Patreon, announced internally earlier this month that...

Sequoia Capital's Alfred Lin. Photo by Getty Images

FTX Collapse Tarnishes Sequoia’s Reputation, Prompts Apology

By Cory Weinberg, Kate Clark and Maria Heeter · Nov 22, 2022 12:53pm PST · 6 comments

Sequoia Capital’s Alfred Lin made a name for himself as a loyal confidant to the tenacious, often-doubted founders of companies like DoorDash and Airbnb, a commitment that helped catapult him to the No. 1 spot on Forbes’ list of top venture capitalists. Then Sam Bankman-Fried, the founder of FTX, entered his life. The spectacular... Sequoia Capital’s Alfred Lin made a name for himself as a loyal confidant to the tenacious,...

Bob Chapek via Bloomberg

It’s Not Just Disney

By Andrew A. Rosen · Nov 22, 2022 9:00am PST · 16 comments

Bob Chapek via Bloomberg

It’s Not Just Disney

By Andrew A. Rosen · Nov 22, 2022 9:00am PST · 16 comments

Parqor is part of The Information’s newsletter network. To receive it in your inbox every Monday, Wednesday and Friday, sign up here. I was putting the finishing touches on a different column when the surprise news of Robert Iger’s return to Disney broke. That column was contemplating whether any of the major public... Parqor is part of The Information’s newsletter network. To receive it in your inbox...

The People With Power at Patreon

By Paris Martineau · Nov 22, 2022 6:00am PST

A few years ago, Jack Conte, CEO of Patreon—a website that allows content creators to generate income from fans—penned an essay about how to attract diverse candidates for executive roles. “If your company is mostly men, make sure to have women on the interview team,” wrote Conte, who co-founded Patreon in 2013. Conte... A few years ago, Jack Conte, CEO of Patreon—a website that allows content creators to...

Photo by Bloomberg

Bob Iger Won’t Be Able to Solve Disney’s Biggest Problem

By Martin Peers · Nov 21, 2022 5:00pm PST · 1 comment

Here’s a question: If newly restored Disney CEO Bob Iger was such a brilliant executive, how is it possible that in 15 years in the top job he wasn’t able to groom a number two who could last? For all the hero worship that greeted Iger’s sudden return on Sunday night, particularly from investors, let’s not forget that Iger bears as much... Here’s a question: If newly restored Disney CEO Bob Iger was such a brilliant executive, how is...

James Currier. Photo: NFX

Creator Economy

Why Artificial Intelligence Won’t Hurt Creators; How Much MrBeast Is Worth

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

The Web3 hype has dulled and artificial intelligence is taking its place. AI has entered the mainstream and people are using it to create artwork or write novels, captions or marketing copy. For creators, AI could serve as a personal assistant to design their YouTube thumbnails or draft podcast scripts. But some worry that the new technology... The Web3 hype has dulled and artificial intelligence is taking its place. AI has entered the...

Sam Bankman-Fried. Photo by Bloomberg.

The Press Failure That Led to FTX

By Jessica E. Lessin · Nov 21, 2022 11:28am PST · 22 comments

Sam Bankman-Fried. Photo by Bloomberg.

The Press Failure That Led to FTX

By Jessica E. Lessin · Nov 21, 2022 11:28am PST · 22 comments

As the crypto currency contagion spreads, there is a tough truth about the press’s role in the crisis that is becoming crystal clear. Reporters and editors (myself and The Information included) were so busy waxing on about all the things crypto companies were not doing that we failed to focus on the risks with what they were actually... As the crypto currency contagion spreads, there is a tough truth about the press’s role in...