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

Tony Tran, co-founder and CEO of Lumanu. Photo: Lumanu

Creator Economy

A Startup That Helps Creators Get Paid Expands Into Crypto

By Mahira Dayal · Jan 11, 2022 4:22pm PST

With many revenue streams comes lots of paperwork. Social media creators, for example, can be paid by multiple social media platforms and many also choose to work with brands for sponsored posts and advertising. Each source will require the creator to fill out long vendor forms, fill in sensitive data like social security numbers many times and... With many revenue streams comes lots of paperwork. Social media creators, for example, can be...

Photos by Bloomberg; Shutterstock. Art by Mike Sullivan

Why FTC Chair Lina Khan’s Attempt to Stop Tech ‘Surveillance’ Faces Long Odds

By Josh Sisco · Jan 11, 2022 1:16pm PST

Federal Trade Commission Chair Lina Khan is known as an antitrust cop who wants to break up technology conglomerates or prevent them from completing acquisitions. She also has a less-discussed, equally important goal: remaking how these companies and others collect and use data about U.S. consumers—and their own employees—in order to... Federal Trade Commission Chair Lina Khan is known as an antitrust cop who wants to break up...

Job Simulator is a non-violent hit VR game, rated appropriate for ages 10+ by the ESRB. Image: Owlchemy Labs

Can Meta Keep Dragging Its Feet on Child-Safe VR?

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

Meta’s reluctance to acknowledge VR’s popularity with children is becoming a bigger problem for the company as mainstream outlets, regulators and others in digital entertainment pose varying questions about its responsibility to kids and parents alike. What’s emerging is a familiar pattern in light of how Meta has responded to criticism of its... Meta’s reluctance to acknowledge VR’s popularity with children is becoming a bigger problem for...

Nisa Leung, managing partner at Qiming Venture Partners. Photo by Bloomberg.

After China Tech Bloodbath, Top VC Tests U.S. Appetite For $1.2 Billion Fund

By Juro Osawa and Shai Oster · Jan 11, 2022 6:00am PST

Nisa Leung, managing partner at Qiming Venture Partners. Photo by Bloomberg.

After China Tech Bloodbath, Top VC Tests U.S. Appetite For $1.2 Billion Fund

By Juro Osawa and Shai Oster · Jan 11, 2022 6:00am PST

Are American investors going to keep putting money into China? Western investors and Chinese entrepreneurs are anxious about the world’s second-largest tech startup market after a bruising six months in which Beijing’s crackdown on domestic tech companies escalated and political tensions between the U.S. and China grew. Americans are... Are American investors going to keep putting money into China? Western investors and Chinese...

Y Combinator president Geoff Ralston. Photo by Wikigeoff2021

Y Combinator’s New Deal Sparks Fear in Seed Investors

By Kate Clark · Jan 10, 2022 8:45pm PST · 9 comments

Y Combinator’s change to the deal terms it grants startup founders has given the famed startup accelerator more firepower than ever. And that’s causing an outcry among the seed investors who comb through its graduating classes to find the next Stripe and Airbnb. On Monday, Y Combinator said that in addition to its usual $125,000... Y Combinator’s change to the deal terms it grants startup founders has given the famed...

Exploration drilling at the Tamarack nickel deposit. Photo: Courtesy Talon Metals

The Electric Flash Analysis: Tesla Strikes First U.S. Nickel Deal, Increasing Its Battery Lead Over Ford, GM

By Steve LeVine · Jan 10, 2022 6:17pm PST

In one of the first deals to break China’s almost total grip on the global supply of battery metals, Tesla on Monday agreed to buy enough nickel from a Minnesota mine to equip about 1 million electric vehicles—roughly the same number of EVs it delivered to customers last year. The mine will also become one of the first U.S.-based sources of EV... In one of the first deals to break China’s almost total grip on the global supply of battery...

Binance CEO Changpeng Zhao. Photo by Bloomberg. Art by Mike Sullivan.

A Deeper Look at Binance CEO’s $96 Billion Net Worth; Signal CEO Steps Down

By Hannah Miller · Jan 10, 2022 5:46pm PST

Binance CEO Changpeng “CZ” Zhao is worth $96 billion, pushing him closer in wealth to rivals like Oracle co-founder Larry Ellison and Google co-founders Sergey Brin and Larry Page, according to Bloomberg. The estimate of Zhao’s net worth casts a rosy glow on Binance, which has previously tangled with regulators around the world. It also provides... Binance CEO Changpeng “CZ” Zhao is worth $96 billion, pushing him closer in wealth to rivals like...

Zynga's San Francisco headquarters. Photo by Bloomberg.

Zynga Deal Signals M&A Wave to Come

By Martin Peers · Jan 10, 2022 5:00pm PST

Zynga's San Francisco headquarters. Photo by Bloomberg.

Zynga Deal Signals M&A Wave to Come

By Martin Peers · Jan 10, 2022 5:00pm PST

Looking for a bargain? Try the tech and media aisles of your local stock market. With lots of fast-growing stocks down 60% from their 2021 highs, acquisitions are likely to come back into vogue. We got a glimpse of what’s to come today with Take-Two Interactive Software’s $12.7 billion proposed acquisition of mobile gaming outfit Zynga. The... Looking for a bargain? Try the tech and media aisles of your local stock market. With lots of...

5 Startups That Raised Twice Last Year; Wordle Guesses Sweep Twitter

Creator Economy

5 Startups That Raised Twice Last Year; Wordle Guesses Sweep Twitter

By Mahira Dayal · Jan 10, 2022 3:53pm PST

The big checkbooks chasing creator economy startups meant that a handful of U.S.-based firms from our Creator Economy database managed to raise two or more rounds of venture capital last year. Our latest chart shows that most of the double dippers were high profile names, including NFT marketplace OpenSea, live shopping app Whatnot and... The big checkbooks chasing creator economy startups meant that a handful of U.S.-based firms from...

Why Enterprise Software IPOs Are Outperforming Other Tech IPOs

By Aidan Ryan · Jan 10, 2022 11:56am PST · 1 comment

Enterprise software stocks, once Wall Street darlings, have fallen sharply in the past six months. But newly public enterprise software companies have been able to buck the worst of the sell-off as investors bet on rising new stars such as Confluent and Monday.com. Shares of 11 enterprise software stocks that went public via a traditional... Enterprise software stocks, once Wall Street darlings, have fallen sharply in the past six...

A concept image of Minecraft running on HoloLens, from the product line's early days. Credit: Microsoft

More on Meta AR Poaching Spree; Snap’s Latest Hardware Acquisition

By Mathew Olson · Jan 10, 2022 11:00am PST

Last summer, Microsoft’s leader on its HoloLens AR headset initiatives told The Wall Street Journal that the company is “absolutely working on” a consumer AR device, but declined to give any kind of timeline on when to expect it. It’s likely that Microsoft’s new AR chip collaboration with Qualcomm is also part of this plan, but a new report from... Last summer, Microsoft’s leader on its HoloLens AR headset initiatives told The Wall Street...

Art by Mike Sullivan

Crypto Talent Wars Fuel Sweeter Salaries, Better Perks for Employees

By Mark Matousek · Jan 10, 2022 6:00am PST

Art by Mike Sullivan

Crypto Talent Wars Fuel Sweeter Salaries, Better Perks for Employees

By Mark Matousek · Jan 10, 2022 6:00am PST

It used to be that crypto startups could count on their missionary appeal to woo and retain top-notch talent, along with the possibility of a big payoff from tokens and equity they doled out to employees. In exchange, many employees didn’t mind missing out on some standard job perks or even taking slight haircuts on salary. Now though, as... It used to be that crypto startups could count on their missionary appeal to woo and retain...

Li-Cycle's recycling plant in Kingston, Canada. Photo: Christinne Muschi/Bloomberg

Tesla’s Scrap Hell Helps Explain Battery-Recycling Deals by Ford and GM

By Steve LeVine · Jan 9, 2022 2:00pm PST

Welcome back to The Electric! Save the date and register: One establishment automaker stands out in its determination to compete with runaway industry leader Tesla. It's Volkswagen. In that spirit, I'm excited to welcome VW's Thomas Schmall, chief of technology for the company as a member of its Board of Management, as my guest for the next... Welcome back to The Electric! Save the date and register: One establishment automaker stands...

The Great Immigrant Resignation; Why iPod Shuffles Are In; Why Cryptospeak Is Out; and Presenting Our First-Ever Holmesie Awards

The Great Immigrant Resignation; Why iPod Shuffles Are In; Why Cryptospeak Is Out; and Presenting Our First-Ever Holmesie Awards

By Jon Steinberg · Jan 8, 2022 8:00am PST

Hi, welcome to your Weekend!While we can’t say that the start of 2022 was as disorienting as last year’s insurrection-impeachment-inauguration triple-whammy, the new year still began with a couple of pocket-sized bombshells. Out here in Silicon Valley, the Elizabeth Holmes trial ended as many expected: with the ex-Theranos boss’s conviction on... Hi, welcome to your Weekend!While we can’t say that the start of 2022 was as disorienting as last...

Art by Mike Sullivan.

Why Influencer Journalists Should Not Be the Future of Journalism

By Jessica E. Lessin · Jan 8, 2022 5:00am PST · 4 comments

A new year is a cause for reflection—and for resuming this column, which I intend to write regularly, but not every week. You may recall I took a break to have my third child. All is well—and busy—in the Lessin household, and at The Information, which is growing rapidly.As I look across the media industry, I see a new genre of news organization... A new year is a cause for reflection—and for resuming this column, which I intend to write...

Traders on the New York Stock Exchange this week. Photo by Bloomberg.

What Discovery’s Rally Says About the Market

By Martin Peers · Jan 7, 2022 4:01pm PST

Traders on the New York Stock Exchange this week. Photo by Bloomberg.

What Discovery’s Rally Says About the Market

By Martin Peers · Jan 7, 2022 4:01pm PST

You know something’s screwy on Wall Street when shares of Discovery, the TV company due to merge with WarnerMedia later this year, rise 17% in one day, as they did today. While the rally was ostensibly sparked by a bullish analyst report, a bigger factor is undoubtedly the general market environment. High-growth tech stocks are no longer the... You know something’s screwy on Wall Street when shares of Discovery, the TV company due to merge...

Rod Sims, Australia's chief antitrust official. Photo by AP.

Q&A

Don’t Break Up Big Tech, Says Antitrust Enforcer Who Fought Facebook

By Mark Di Stefano · Jan 7, 2022 3:41pm PST · 5 comments

Australia has been punching way above its weight when it comes to tech regulation. Its showdown over news on Alphabet’s Google and Meta Platforms’ Facebook last year grabbed the world’s attention, forcing the two internet companies to back down from threats and agree to deals with traditional media outlets that are... Australia has been punching way above its weight when it comes to tech regulation. Its showdown...

Illustration by Josh Brill

When the Brands Came for Crypto: Can a Subculture Survive the Social Media Managers?

By Margaux MacColl · Jan 7, 2022 2:00pm PST · 3 comments

Within the dark caverns and crevices of Twitter, there is a singular sunny corner: the lair of the non-fungible token influencer. Their tweets are littered with optimistic acronyms: LFG for “let’s fucking go.” WAGMI for “we’re all going to make it.” GM to bid fellow crypto believers a good morning. It’s a place where meme-inspired jokes sing in... Within the dark caverns and crevices of Twitter, there is a singular sunny corner: the lair of...

Art by: Haejin Park. Photos courtesy of Kira Vaden, Tega Akinola, Myra Magdalen

Millennials Brought Back Vinyl. Gen-Z Is Reviving the iPod Shuffle and Ethernet Cables

By Annie Goldsmith · Jan 7, 2022 12:00pm PST · 2 comments

Kira Vaden was compulsively refreshing eBay, watching prices rise and fall on one specific product: “vintage” iPod Shuffles from the late aughts. Vaden, a 23-year-old Starbucks barista from Peoria, Ill., finally pulled the trigger in December, purchasing a pack of two Shuffles for $11.50. She didn’t know whether the tiny music players worked or... Kira Vaden was compulsively refreshing eBay, watching prices rise and fall on one specific...

Clockwise from top left: Sneha Biswas, Anshul Rathi, Angad Daryani, Aryan Chauhan, Sameer and Pragya Goyal.

The Great Immigrant Resignation: Fed Up Indian Tech Workers Ditch the American Dream

By Anita Raghavan · Jan 7, 2022 9:00am PST · 12 comments

Clockwise from top left: Sneha Biswas, Anshul Rathi, Angad Daryani, Aryan Chauhan, Sameer and Pragya Goyal.

The Great Immigrant Resignation: Fed Up Indian Tech Workers Ditch the American Dream

By Anita Raghavan · Jan 7, 2022 9:00am PST · 12 comments

For four years, Sameer and Pragya Goyal lived the Indian American Dream. Newly immigrated from India to the U.S., the Goyals both worked for Amazon, notching six-figure salaries in their 20s. They lived in an apartment in downtown Seattle with floor-to-ceiling windows that afforded a precious glimpse of an inlet that flowed out to the Pacific... For four years, Sameer and Pragya Goyal lived the Indian American Dream. Newly immigrated from...