The Briefing by Martin Peers, Jessica Lessin and the team at The Information

Five times/week

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.

By providing your email, you agree to The Information’s Privacy Policy

Recent Editions

Illustration by Jesus Escudero.

How NFTs Are Fueling a Sports Memorabilia Boom

By Mary Pilon · Mar 11, 2022 12:00pm PST · 1 comment

Timur Celikel, a 39-year-old software engineer in San Diego, isn’t much of a sports fan. In his youth, he followed the Padres a bit, and he still has some boxes of baseball cards collecting dust in storage. But for the last decade or so, his interest in anything athletic has felt at best dormant. Then a year ago, a friend introduced him to... Timur Celikel, a 39-year-old software engineer in San Diego, isn’t much of a sports fan. In his...

Photograph by Bloomberg. Art by Mike Sullivan.

The Other Sunny Balwani

By Anita Raghavan · Mar 11, 2022 12:00pm PST · 5 comments

It was a spring day in 2018 outside the Newark, Calif., campus of Theranos. Within months, the company’s founder, Elizabeth Holmes, and its president, Ramesh “Sunny” Balwani, would face felony charges of conspiracy and fraud and the doomed blood diagnostics company they built together would become a Silicon Valley morality tale. While taking a... It was a spring day in 2018 outside the Newark, Calif., campus of Theranos. Within months, the...

Illustration by Jesus Escudero.

Tech’s 4-Day Workweek Revolution

By Mark Matousek · Mar 11, 2022 6:00am PST

In their desperate efforts to retain workers, tech companies have tried offering remote work options. They’re raising cash pay and offering stock sweeteners. Some have even gone so far as to roll out four-day workweeks, which may be the most radical move of all. One-click–checkout startup Bolt and software firm Wildbit are among an... In their desperate efforts to retain workers, tech companies have tried offering remote work...

Uber CEO Dara Khosrowshahi. Photo by Bloomberg.

Rising Gas Prices Threaten Uber, Lyft, DoorDash

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

Uber CEO Dara Khosrowshahi. Photo by Bloomberg.

Rising Gas Prices Threaten Uber, Lyft, DoorDash

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

Can Uber and Lyft ever catch a break? Just when investors might have thought it was safe to wade back into the ride-hailing waters, thanks to the decline of Omicron, gas prices take off. That’s going to raise fuel costs for drivers—including those working for both ride-hailing services and food-delivery operations like DoorDash—probably causing... Can Uber and Lyft ever catch a break? Just when investors might have thought it was safe to wade...

A display in the CoinUnited cryptocurrency exchange in Hong Kong. Photo: Bloomberg

LimeWire Adds to Brands Launching NFT Efforts; Stripe Digs Deeper into Crypto

By Aidan Ryan · Mar 10, 2022 4:44pm PST

One main takeaway from my conversation with Volition Capital founding partner and GameStop board member Larry Cheng—published in yesterday’s edition of Crypto Global—is that a strong sense of community is vital to successful NFT initiatives. “You either have to have a very engaged community or you have to have the capacity to build one,” he... One main takeaway from my conversation with Volition Capital founding partner and GameStop board...

Art: Mike Sullivan

Creator Economy

Pinterest Knows You Want to Shop; TikTok-Oracle Déjà Vu; Amazon Hires Influencer Managers

By Mahira Dayal · Mar 10, 2022 4:05pm PST

Pinterest has something other social media platforms don’t: users who often think of the app, first and foremost, as an inspiration for making purchases. People come to the digital scrapbooking app to look for decor and outfits, curating themed boards and following creators for ideas before making purchases. So it’s about time Pinterest... Pinterest has something other social media platforms don’t: users who often think of the app,...

From left to right, Bessemer partners Jeremy Levine, Talia Goldberg, Ethan Kurzweil and Charles Birnbaum. Photo credit: Jerry Yoon.

Venture Firm Bessemer Creates DAO, Earmarks $250 Million for Crypto Deals

By Kate Clark · Mar 10, 2022 11:09am PST

Venture capitalists’ efforts to earn the respect of sought-after cryptocurrency entrepreneurs have reached a new peak: The biggest firms are now starting decentralized autonomous organizations, communities that pool cryptocurrency tokens and vote collectively on the group’s activities. Bessemer Venture Partners is one of the first to... Venture capitalists’ efforts to earn the respect of sought-after cryptocurrency...

Photos featuring the Magic Leap 2 headset. Compute pack and controller not pictured. Credit: Magic Leap.

Magic Leap Steps Into the Future; Niantic Buys 8th Wall

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

Photos featuring the Magic Leap 2 headset. Compute pack and controller not pictured. Credit: Magic Leap.

Magic Leap Steps Into the Future; Niantic Buys 8th Wall

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

Over the past year, Magic Leap has been gradually pulling back the curtain on its new AR device. The company’s future is riding on it. After Magic Leap’s underwhelming hardware debut in 2018 came layoffs, a pivot to enterprise and a CEO change, all while development of this slimmer and lighter follow-up continued. Finally, just last week, I had... Over the past year, Magic Leap has been gradually pulling back the curtain on its new AR device....

A man rides a bicycle in front of an apartment building that was damaged by shelling in Mariupol, Ukraine. Photo by AP.

War as Impact Investment: Under Bombardment, Startup Pitches Investors’ Social Conscience

By Mark Di Stefano · Mar 10, 2022 6:00am PST

In late-February, Kyiv-based All Right, an online language-tutoring startup geared toward kids and teens, was just about to lock down a fresh investment, said its founder Oleg Oksyuk. Then came the Russian invasion, and the investor pulled out. The startup soon had another problem: About half of All Right’s revenue comes from customers in... In late-February, Kyiv-based All Right, an online language-tutoring startup geared toward kids...

Amazon CEO Andy Jassy. Photo by Bloomberg.

What Amazon's Stock Buyback Says About Andy Jassy's Management

By Martin Peers · Mar 9, 2022 5:00pm PST

Amazon picked a good day to unveil some notably shareholder-friendly moves, with a long-overdue stock split and a $10 billion stock buyback program. It may not be a coincidence that the announcement came the same day a bipartisan congressional committee asked the Justice Department to investigate what it called “potentially criminal conduct” by... Amazon picked a good day to unveil some notably shareholder-friendly moves, with a long-overdue...

Volition Capital partner Larry Cheng. Photo: Volition Capital

Volition Capital’s Larry Cheng Is Coming Around to Crypto; Bain’s Botched Announcement

By Aidan Ryan · Mar 9, 2022 4:20pm PST

At this point, it feels like a new venture fund dedicated to crypto is launching every week. But not all investors are completely on board yet. Larry Cheng, a founding partner of 12-year-old Volition Capital and an early investor in pet company Chewy, told me he started out as a real skeptic about the crypto and Web3 sectors. But after... At this point, it feels like a new venture fund dedicated to crypto is launching every week. But...

Illustration by Mike Sullivan

Twitter’s Tiny Shopping Steps; NFT Mentions Usurp WFH on Twitter; TurboTax Tracks Rise in Creators

By Mahira Dayal · Mar 9, 2022 3:24pm PST

Illustration by Mike Sullivan

Creator Economy

Twitter’s Tiny Shopping Steps; NFT Mentions Usurp WFH on Twitter; TurboTax Tracks Rise in Creators

By Mahira Dayal · Mar 9, 2022 3:24pm PST

You can’t criticize Twitter for rushing into things. The microblogging site, in line with rivals like Instagram, Snap and Pinterest, has been expanding its shopping functions over the last year as it introduces new ways for super users on the platform to make money. But Twitter’s approach to e-commerce has the air of a company that still hasn’t... You can’t criticize Twitter for rushing into things. The microblogging site, in line with rivals...

Johnson Matthew's eLNO business is up for sale. Photo: Courtesy Johnson Matthey

The Electric Flash Analysis: Amid the Nickel Crisis, EV Makers Inexplicably Ignored the Only Non-Nickel Battery Plant in the West

By Steve LeVine · Mar 9, 2022 1:48pm PST

Last fall, Johnson Matthey, a U.K. chemical company, said it was selling its Canadian lithium-iron-phosphate cathode plant, the only one of its kind in the U.S. or Europe. The divestment seemed propitious: Tesla and several major Western electric vehicle makers had already announced a massive shift to cheap iron-based batteries (known as LFP),... Last fall, Johnson Matthey, a U.K. chemical company, said it was selling its Canadian...

A player takes aim to make a goal in Nock. Credit: Normal VR.

Normal VR’s Quest to Build a True Virtual Sport

By Mathew Olson · Mar 9, 2022 11:00am PST

Esports have become a huge offshoot of the larger video games industry. Gaming research firm Newzoo estimates that 2021 was the first year that esports generated more than $1 billion in revenue. Like gaming more generally, esports is driven by hits but includes countless failures, even from companies as well-resourced as Amazon.So, what hope... Esports have become a huge offshoot of the larger video games industry. Gaming research firm...

Illustration by Danielle Davis

Can Hybrid Work Create a More Diverse Workforce?

By Evelyn R. Carter · Mar 9, 2022 9:00am PST · 2 comments

Microsoft set it off, welcoming employees back to its offices in Washington at the end of February. Twitter reopens next on March 15, followed by Google and Apple in early and mid-April. Eventually we’ll reach something like a new workplace normal, which—if these and just about every other company are any... Microsoft set it off, welcoming employees back to its offices in Washington at the end of...

Disney CEO Bob Chapek. Photo by AP

Bob Chapek is Finally Pushing Disney Out of its Comfort Zone

By Jessica Toonkel · Mar 9, 2022 6:00am PST

Disney CEO Bob Chapek. Photo by AP

Bob Chapek is Finally Pushing Disney Out of its Comfort Zone

By Jessica Toonkel · Mar 9, 2022 6:00am PST

Bob Iger only left the building at Walt Disney Co.’s headquarters at the end of December, and his successor as CEO, Bob Chapek, is already doing things differently. In the months since Iger’s departure, Chapek has developed plans to launch a cheaper ad-supported version of its flagship Disney+ streaming service and has explored... Bob Iger only left the building at Walt Disney Co.’s headquarters at the end of December,...

Bain Capital Crypto Managing Partners Alex Evans and Stefan Cohen. Photo by Bain Capital Crypto. Art by Mike Sullivan.

Bain Capital Ventures Launches Crypto Fund; Crypto Meets Drug Development

By Akash Pasricha · Mar 8, 2022 5:48pm PST · 1 comment

Another week, another gigantic crypto fund. Bain Capital Ventures (BCV) is the latest to join the fray, unveiling a $560 million fund on Tuesday dedicated to crypto investments. The new fund brands itself as Bain Capital Crypto (BCC), separate from BCV, which is a limited partner in the new fund. The crypto fund has backed 12 startups to... Another week, another gigantic crypto fund. Bain Capital Ventures (BCV) is the latest to join the...

Google Cloud chief Thomas Kurian. Photo by Bloomberg.

Google-Mandiant Deal Poses Test for Antitrust Regulators

By Martin Peers · Mar 8, 2022 5:00pm PST

The M&A folks at big tech companies apparently are still working, despite regulators’ best efforts to do away with their jobs. Google’s $5.4 billion cash deal to buy cybersecurity firm Mandiant today—confirming The Information’s scoop on Monday about deal talks—demonstrates that big tech companies aren’t going to let antitrust pressure stop... The M&A folks at big tech companies apparently are still working, despite regulators’ best...

The group of creators living in a new music-focused creator house in Miami. Photo: Alexander Tamargo/Getty Images

Creator Economy

Live Nation Launches a Creator House for Music Fans; Q&A With Startup Founder Sophie Gray

By Kaya Yurieff · Mar 8, 2022 3:13pm PST

The popularity of Hype House, a Los Angeles mansion that has housed TikTok stars Charli D’Amelio and Addison Rae, has encouraged similar creator collectives where internet personalities make videos together and post to each other's fans. The latest of these focuses on music—and Miami. Live Nation Entertainment, which merged with... The popularity of Hype House, a Los Angeles mansion that has housed TikTok stars Charli D’Amelio...

Love co-founders Ashwath Rajan, Ryan Breslow and JR Rahn. Photo by Julian Buitrago

Bolt’s Breslow Teams With Psychedelics Founder on Crypto Pharma Startup

By Kate Clark · Mar 8, 2022 11:40am PST · 1 comment

Love co-founders Ashwath Rajan, Ryan Breslow and JR Rahn. Photo by Julian Buitrago

Bolt’s Breslow Teams With Psychedelics Founder on Crypto Pharma Startup

By Kate Clark · Mar 8, 2022 11:40am PST · 1 comment

Bolt co-founder Ryan Breslow, who stepped down as the e-commerce software startup’s CEO after publishing a Twitter rant aimed at powerful Silicon Valley institutions, is taking another stab at startup leadership. This time he’s planning to develop drugs initially based on nutraceuticals, food-derived substances that have health... Bolt co-founder Ryan Breslow, who stepped down as the e-commerce software startup’s CEO...