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

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Recent Editions

A promotional photo for the Quest 2. Credit: Meta.

A Meta Supplier’s Big VR Screen Business; Squinting at “Tinyverses”

By Mathew Olson · Mar 8, 2022 11:10am PST

We got some new clues about how many Quest 2 headsets Meta Platforms is selling. Today, Nikkei Asia reported that Foxconn-owned display maker Sharp is now shipping over 1 million LCD screens for VR headsets per month, which would be a substantial increase on what it was doing last year. Sharp’s reported 2021 VR revenue suggests it only shipped... We got some new clues about how many Quest 2 headsets Meta Platforms is selling. Today, Nikkei...

Jack Ma, controlling shareholder of Ant Group, in 2019. Photo by Bloomberg.

Jack Ma’s Ant Group Delays IPO as Beijing’s Tech Crackdown Goes On

By Juro Osawa · Mar 8, 2022 6:00am PST · 3 comments

When Chinese regulators canceled Ant Group’s $37 billion initial public offering in late 2020, the question was how long the financial services behemoth, which was then valued on paper at more than $300 billion, would stay in regulatory purgatory. The answer remains elusive: Bankers who last fall talked to the Chinese company about a... When Chinese regulators canceled Ant Group’s $37 billion initial public offering in late...

Sam Bankman-Fried, founder and chief executive officer of FTX. Photo: Bloomberg

FTX’s European Expansion by the Numbers; Another Mega NFT Startup Valuation

By Akash Pasricha · Mar 7, 2022 5:44pm PST

FTX is expanding into Europe. The cryptocurrency exchange, which ranks as the third largest globally based on daily spot-trading volume, opened its trading platform to Europe on Monday. To learn why FTX is heading to Europe despite the current geopolitical climate, I calculated how big this market could be for the company. FTX is expanding into Europe. The cryptocurrency exchange, which ranks as the third largest...

Apple CEO Tim Cook at the Golden Globe awards in 2020. Photo by AP

Why Tim Cook Should Explain His Apple TV+ Strategy

By Martin Peers · Mar 7, 2022 5:00pm PST · 1 comment

Apple CEO Tim Cook at the Golden Globe awards in 2020. Photo by AP

Why Tim Cook Should Explain His Apple TV+ Strategy

By Martin Peers · Mar 7, 2022 5:00pm PST · 1 comment

There may be no CEO in tech who has done as good a job at maximizing profits as Apple’s Tim Cook. Indeed, the company’s ability to extract as many dollars as possible from every part of its business can seem almost excessive at times (for example, when it charges $99 for a laptop power adapter). But it’s all good for shareholders and one reason... There may be no CEO in tech who has done as good a job at maximizing profits as Apple’s Tim Cook....

Tiger Global founder Chase Coleman III. Photo: Bloomberg. Illustration: Mike Sullivan

Tiger Global Partners Commit $1 Billion for Early-Stage Tech Funds

By Berber Jin · Mar 7, 2022 3:26pm PST · 1 comment

Tiger Global Management, the world’s most active startup investor last year, is trying a new way to get the inside track. Partners at the firm, known for its big bets in companies including Coinbase and Roblox, have committed $1 billion of their own cash to invest in seed funds that focus on backing the youngest startups, said a person... Tiger Global Management, the world’s most active startup investor last year, is trying a...

Photo by Bloomberg

Creator Economy

Russian Influencers Take an Earnings Hit; D’Amelio Family Launches $25 Million VC Fund

By Kaya Yurieff · Mar 7, 2022 2:00pm PST

With social platforms shutting down or limiting features in Russia as the country’s invasion of Ukraine continues, Russian social media influencers are being cut off from earnings. The Russian government has blocked access to Facebook, a move it blamed on the social network’s restrictions on state media. Last week, Google paused ad... With social platforms shutting down or limiting features in Russia as the country’s invasion of...

From left, Alphabet and Google CEO Sundar Pichai, Mandiant CEO Kevin Mandia, and Microsoft CEO Satya Nadella. Photos by Bloomberg

Google in Talks to Buy Mandiant, a $4.5 Billion Cybersecurity Firm

By Josh Sisco and Kevin McLaughlin · Mar 7, 2022 12:39pm PST

Google is in talks to buy cybersecurity consultancy Mandiant, which two years ago discovered the infamous SolarWinds hack, according to a person with knowledge of the discussion. A deal could bolster Google’s cloud computing business, which generates more than $19 billion annually but has been losing billions of dollars a year, and help it... Google is in talks to buy cybersecurity consultancy Mandiant, which two years ago discovered the...

As AR improves, the SE's single rear camera and limited sensors could hold iPhones back. Credit: Apple

Apple’s First 2022 Event; A VR Accessory’s Chip Shortage Struggle

By Mathew Olson · Mar 7, 2022 11:00am PST

As AR improves, the SE's single rear camera and limited sensors could hold iPhones back. Credit: Apple

Apple’s First 2022 Event; A VR Accessory’s Chip Shortage Struggle

By Mathew Olson · Mar 7, 2022 11:00am PST

Apple holds its first product event of the year tomorrow, March 8. An updated version of the iPhone SE, currently the company’s entry-level $399 smartphone, is expected to headline the event—this time with 5G support. That’s a big deal. By bringing it to their lower-end device, Apple will help broaden adoption of 5G across the population.That... Apple holds its first product event of the year tomorrow, March 8. An updated version of the...

Why AWS Makes Money and Google Cloud Doesn’t

By Kevin McLaughlin and Amir Efrati · Mar 7, 2022 6:00am PST

Google’s cloud computing arm is the company’s biggest hope of creating a substantial moneymaker outside of advertising, but it has been struggling to make up meaningful ground against industry pioneer Amazon Web Services. That extends to profitability: Last year, despite generating $19 billion in revenue, the kind of scale that... Google’s cloud computing arm is the company’s biggest hope of creating a substantial...

Photo: Qilai Shen/Bloomberg

Why EV Battery Makers Need to Start Using Machine Learning

By Steve LeVine · Mar 6, 2022 2:00pm PST

Welcome back to The Electric! At a time of fast transformation of the transportation system, the lithium-ion battery industry is still largely mired in decades-old ways of invention and development. This week, we look at companies that are using “small data” to create artificial intelligence algorithms and accelerate battery development.In... Welcome back to The Electric! At a time of fast transformation of the transportation system,...

Tech Workers Respond to the Realities of War, While Tech Leaders Grapple With the Realities of Their Own Power

Tech Workers Respond to the Realities of War, While Tech Leaders Grapple With the Realities of Their Own Power

By Jon Steinberg · Mar 5, 2022 8:00am PST

Hi, welcome to your Weekend!More than any other industry, tech attracts a global workforce. According to one 2018 report, 71% of tech workers in Silicon Valley are foreign born. And tech leaders have never been shy about their desires for the US to reform its immigration laws in order to attract even more foreign talent. So it should come... Hi, welcome to your Weekend!More than any other industry, tech attracts a global workforce....

The city of Nizhny Novgorod. Intel has operated a major software development center in the city for decades. Photo by Bloomberg.

Intel’s Decades-Old Russian Software Operations Underscore Tough Choices for U.S. Tech Firms

By Stephen Nellis and Sylvia Varnham O'Regan · Mar 5, 2022 6:07am PST · 2 comments

The city of Nizhny Novgorod. Intel has operated a major software development center in the city for decades. Photo by Bloomberg.

Intel’s Decades-Old Russian Software Operations Underscore Tough Choices for U.S. Tech Firms

By Stephen Nellis and Sylvia Varnham O'Regan · Mar 5, 2022 6:07am PST · 2 comments

When Intel Corp. suspended chip sales to Russia last week, it joined a stampede of U.S. tech companies cutting off sales after President Vladimir Putin’s invasion of Ukraine. But Intel’s ties to Russia run far deeper than chip sales. For more than two decades, the company has operated a major software development center in Nizhny... When Intel Corp. suspended chip sales to Russia last week, it joined a stampede of U.S. tech...

Art by Haejin Park

Covid Didn’t End the Tech Backlash. Could Putin?

By Jessica E. Lessin · Mar 5, 2022 5:00am PST

It is a truth universally acknowledged in Silicon Valley that when one tech platform takes a stand against some injustice, others are quick to follow. Big tech companies—like many corporations—wait for the first mover and follow in droves.And so it was this week, when Meta, Alphabet, Apple, Netflix, Reddit and many more blocked or curbed the... It is a truth universally acknowledged in Silicon Valley that when one tech platform takes a...

Shopify's headquarters in Canada. Photo by Bloomberg.

What the Shift to Cash Comp Means for Tech Profit Margins

By Martin Peers · Mar 4, 2022 5:00pm PST · 1 comment

Cash is once again king. We got more evidence this week—in our interview with Cisco’s chief people officer—that some tech companies are raising salaries to sweeten pay at a time when falling stock prices make stock less appealing as a form of compensation. While workers may be pleased, investors might not be. Companies (and investors) like to... Cash is once again king. We got more evidence this week—in our interview with Cisco’s chief...

Art by Haejin Park.

How a Venture Founder’s Aesthetics Obsession Influences How She Picks Companies

By Malique Morris · Mar 4, 2022 2:00pm PST · 1 comment

This isMy Life’s Work, a column about the unique life experiencesthat influenced the careers of tech founders and executives. Interviews have been edited and condensed for clarity. Sarah Kunst’s venture fund, Cleo Capital, which she founded in 2018, has invested in culture-shifting media companies like Cameo and MasterClass, cryptocurrency... This isMy Life’s Work, a column about the unique life experiencesthat influenced the careers of...

Art by Haejin Park.

Laurie Segall’s Memoir Confronts Tech Titans, Media Moguls and All Sorts of “Special Characters”

By Annie Goldsmith · Mar 4, 2022 12:00pm PST · 2 comments

Art by Haejin Park.

Laurie Segall’s Memoir Confronts Tech Titans, Media Moguls and All Sorts of “Special Characters”

By Annie Goldsmith · Mar 4, 2022 12:00pm PST · 2 comments

This is 10 Questions, in which we ask tech authors to pull back the covers on their recently released books. Interviews have been edited and condensed for clarity. “Putting out a memoir is like walking down the street naked. It’s scary and it’s vulnerable and—well, I don’t know if walking down the street naked is rewarding—but it’s also very... This is 10 Questions, in which we ask tech authors to pull back the covers on their recently...

All photographs courtesy of the subjects.

‘Defend the Country, Defend the Truth’: How 16 Ukrainian- and Russian-Born Tech Workers Are Responding to a Nightmare

By The Information Staff · Mar 4, 2022 11:00am PST · 2 comments

“My entire family is still there, in Kyiv,” says New York–based entrepreneur and investor Constantin Kogan. “When I’m communicating with them, I am feeling like this is the last time I’ll talk with them in my life.” For thousands of people in the tech industry, abject fear for their loved ones has dominated life over the past week. More than a... “My entire family is still there, in Kyiv,” says New York–based entrepreneur and investor...

How Google Is Preparing for the End of Internet Advertising (as We Know It)

By Sarah Krouse · Mar 4, 2022 6:00am PST · 6 comments

In 2020, when Apple announced plans for sweeping privacy changes to its mobile phones, Meta Platforms—the parent of Facebook and one of the advertising powerhouses most likely to feel the pain of the changes—duked it out with Apple for days on Twitter and in full-page newspaper ads. Another internet ad giant, Google, barely made a... In 2020, when Apple announced plans for sweeping privacy changes to its mobile phones, Meta...

Photo: Bloomberg

The Big Deal Over Staking-Startup Lido; Serena Williams’ Diversity-Driven $111 Million Fund

By Akash Pasricha · Mar 3, 2022 6:45pm PST

On Thursday, Andreessen Horowitz announced it was investing $70 million in Lido, a startup that makes money “staking” for blockchain protocols. What’s noteworthy is that Andreessen Horowitz did this deal alone, a sign of its confidence. So we decided to break down the business model.The situation: Many newer blockchains rely on a process called... On Thursday, Andreessen Horowitz announced it was investing $70 million in Lido, a startup that...

Disney's name on a screen at the New York Stock Exchange. Photo by Bloomberg.

Why Disney’s Ad-Streaming Move Would Be a Big Deal

By Martin Peers · Mar 3, 2022 5:00pm PST

Disney's name on a screen at the New York Stock Exchange. Photo by Bloomberg.

Why Disney’s Ad-Streaming Move Would Be a Big Deal

By Martin Peers · Mar 3, 2022 5:00pm PST

Netflix’s revolutionary impact on television is beginning to fade. Our scoop today that Disney is considering a cheaper, ad-supported version of its Disney+ service shows how streaming is inexorably gravitating toward the traditional TV model. Such a move means Disney would follow NBCUniversal, Discovery, Paramount, WarnerMedia and even Amazon... Netflix’s revolutionary impact on television is beginning to fade. Our scoop today that Disney is...