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

Hugo Swart, VP of VR and AR at Qualcomm. Photo: Qualcomm. Illustration: Mike Sullivan

A Q&A With Qualcomm’s VP of VR and AR; Roblox’s Age-Up

By Mathew Olson · Nov 9, 2021 11:00am PST · 1 comment

This morning, Qualcomm announced Snapdragon Spaces, a new set of software tools for developers of AR experiences (and yes, if you’re having deja vu from Monday, Niantic debuted its own AR developer tools yesterday, and they can be used with Spaces). Best known for its mobile chips, the San Diego company has been investing heavily in AR and VR, a... This morning, Qualcomm announced Snapdragon Spaces, a new set of software tools for developers of...

Instagram head Adam Mosseri, left, and Meta Platforms CEO Mark Zuckerberg. Photos by Bloomberg; art by Mike Sullivan.

Inside Facebook’s Struggles to Attract Creators and Their Young Fans

By Kaya Yurieff, Sarah Krouse and Sahil Patel · Nov 9, 2021 6:00am PST

In early May, days after Facebook CEO Mark Zuckerberg told investors the company wanted to be the best platform for millions of digital content creators to make a living, researchers at the company spotlighted a major obstacle for its flagship app. Public figures and creators “lack a reason to be on FB,” according to a more than... In early May, days after Facebook CEO Mark Zuckerberg told investors the company wanted to be the...

Rivian CEO RJ Scaringe. Photo by Bloomberg.

The Amazon-Rivian Self-Funding Electric Van

By Martin Peers · Nov 8, 2021 5:01pm PST

Rivian shareholders should strap on their seatbelts. The Amazon-backed electric truck maker raised its proposed IPO pricing range 23% today—from what it disclosed last week—to a level that implies a market capitalization of $67 billion. That’s 84% of the market cap of Ford, for those keeping score—not bad for a startup that has yet to produce... Rivian shareholders should strap on their seatbelts. The Amazon-backed electric truck maker...

Photo by Bloomberg. Art by Mike Sullivan.

Coinbase Earnings Preview; Infrastructure Bill’s Crypto Reporting Rules

By Hannah Miller · Nov 8, 2021 4:34pm PST

Photo by Bloomberg. Art by Mike Sullivan.

Coinbase Earnings Preview; Infrastructure Bill’s Crypto Reporting Rules

By Hannah Miller · Nov 8, 2021 4:34pm PST

Coinbase will report its third-quarter earnings on Tuesday, likely giving more insight into its new offerings, such as its recently announced non-fungible token marketplace. The company, which is the largest crypto exchange in the U.S. by trading volume, could also announce new ventures as it expands further into financial services. Here’s what... Coinbase will report its third-quarter earnings on Tuesday, likely giving more insight into its...

Credit: Roblox

Creator Economy

Roblox’s Good and Bad News; Clubhouse Is No Longer Just Live

By Mahira Dayal · Nov 8, 2021 3:31pm PST

Roblox’s third-quarter financial results were a mixed bag for creators, including the millions of developers who earn money from the virtual worlds they make for the gaming platform. On the upside for everyone whose fortunes are yoked to the online economy, the kids have clearly not backed away from their video games. That’s even though... Roblox’s third-quarter financial results were a mixed bag for creators, including the millions of...

Niantic CEO John Hanke. Photo: Bloomberg. Illustration: Mike Sullivan

Niantic CEO John Hanke on AR, the Metaverse and Why He’s “Fascinated” With the Crypto World

By Mathew Olson · Nov 8, 2021 10:00am PST

Niantic, makers of Pokemon Go, launched a new platform for AR developers called Lightship today. The company is taking the set of iOS and Android AR tools out of beta and offering worldwide access, with a model that’s initially free to use for all developers through to summer 2022.John Hanke, Niantic’s CEO and formerly the leader of the Google... Niantic, makers of Pokemon Go, launched a new platform for AR developers called Lightship today....

Mike Volpi. Photo by Bloomberg.

Q&A

Index’s Volpi Sees New Wave of Conflicts in Enterprise Software

By Kevin McLaughlin · Nov 8, 2021 6:00am PST · 7 comments

Brace yourselves for more conflict among the software arms merchants in the enterprise. That’s one of the predictions of Mike Volpi, a longtime venture capitalist and tech executive who has become an active investor in the category. In an interview with The Information, Volpi said he anticipated more collisions between companies in... Brace yourselves for more conflict among the software arms merchants in the enterprise. ...

Lithium production, Potosi, Bolivia. Photo: Carlos Becerra/Bloomberg

Lithium-Metal Batteries Face Their Moment of Truth

By Steve LeVine · Nov 7, 2021 2:00pm PST

Lithium production, Potosi, Bolivia. Photo: Carlos Becerra/Bloomberg

Lithium-Metal Batteries Face Their Moment of Truth

By Steve LeVine · Nov 7, 2021 2:00pm PST

Good evening and welcome back to The Electric!In a matter of decades, lithium has transformed the world of convenience, giving us practical-size mobile electronics and introducing the possibility of affordable electric vehicles in just a few years. All of this has happened with just a sprinkling of the metal in batteries, because lithium's pure,... Good evening and welcome back to The Electric!In a matter of decades, lithium has transformed the...

Lions Gate's headquarters in California. Photo by Bloomberg

What Lions Gate’s Potential Starz Spinoff Move Means for Hollywood

By Martin Peers · Nov 5, 2021 5:00pm PDT

Amid the cacophony of earnings results this week, you might have picked up the faint but unmistakable sound of a pendulum starting to swing in the entertainment industry. The long-popular idea that film and TV studios should be paired with the TV networks or streaming services that broadcast the studios’ output is suddenly getting rethought.... Amid the cacophony of earnings results this week, you might have picked up the faint but...

Brex Co-CEO Henrique Dubugras, left, and Ramp CEO Eric Glyman. Photos by Bloomberg, Flickr. Art by Mike Sullivan.

Brex and Ramp Want to Take On Amex. First, They’ll Fight Each Other

By Kate Clark · Nov 5, 2021 12:27pm PDT · 1 comment

Brex employees haven’t had to look hard for reminders of their startup’s ambition to reign supreme over the big corporate card companies: The Wi-Fi network password at one of its former offices used to be “BuyAmex.” But Brex is facing increasingly fierce competition, including from a two-year-old copycat named Ramp... Brex employees haven’t had to look hard for reminders of their startup’s ambition to...

Art by Mike Sullivan

Modest Proposals

Investing Directly in People Is the Future of VC. Here’s How to Do It.

By Sam Lessin · Nov 5, 2021 9:01am PDT · 31 comments

Earlier this year I wrote about the idea of investing directly in people versus companies—something my venture capital firm, Slow Ventures, has started doing. For us, this is a form of real VC, as opposed to the plug-and-play, low-margin growth equity that is rapidly becoming as boring as it sounds. Even a year ago people thought we were... Earlier this year I wrote about the idea of investing directly in people versus...

Apple senior vice president of hardware technologies Johny Srouji. Screenshot via Apple

Apple’s Road Map for Mac Chips Shows Likely Advantage Over Intel

By Wayne Ma · Nov 5, 2021 6:00am PDT · 1 comment

Apple senior vice president of hardware technologies Johny Srouji. Screenshot via Apple

Apple’s Road Map for Mac Chips Shows Likely Advantage Over Intel

By Wayne Ma · Nov 5, 2021 6:00am PDT · 1 comment

Last month, Intel CEO Pat Gelsinger declared that winning back Apple’s business was one of his top priorities, a move that would ease the shame of Apple having dropped Intel processors from its Mac line of computers in favor of its own designs. It looks like Gelsinger has his work cut out for him. That’s because Apple’s... Last month, Intel CEO Pat Gelsinger declared that winning back Apple’s business was one...

Uber CEO Dara Khosrowshahi. Photo by Bloomberg

How Uber and Airbnb Are Recovering From the Pandemic

By Martin Peers · Nov 4, 2021 5:02pm PDT

Airbnb looks like it has shaken off the worst effects of the pandemic more than Uber, judging by third-quarter numbers released this afternoon. Neither company showed they were yet back to their pre-Covid position in terms of business volume. But they’re both looking much healthier financially, thanks both to cost-cutting prompted by the... Airbnb looks like it has shaken off the worst effects of the pandemic more than Uber, judging by...

New York Mayor-elect Eric Adams. Photo by Bloomberg.

New York Takes On Miami; Square’s Bitcoin Revenue Stumbles

By Hannah Miller · Nov 4, 2021 4:01pm PDT

New York is challenging Miami to become the U.S.’s crypto capital. The city’s newly elected mayor, Eric Adams, tweeted Thursday that he’s going to take his first three paychecks in bitcoin, outdoing Miami Mayor Francis Suarez, who tweeted Tuesday that he’s going to take his next salary payment in the cryptocurrency. Adams added that New... New York is challenging Miami to become the U.S.’s crypto capital. The city’s newly elected...

Bitly president Raleigh Harbour. Photo: Bitly. Illustration: Mike Sullivan

Creator Economy

How Bitly is Remaking Itself in the Age of Creators

By Mahira Dayal · Nov 4, 2021 2:45pm PDT

In a blast from the past, Bitly, a company that has quietly been shortening links for over a decade, is trying to make its way back to the limelight with the creator economy. Bitly is launching a beta version of Link Launchpad, a link-in-bio feature that acts as a landing page creators can use to share multiple links in their social media... In a blast from the past, Bitly, a company that has quietly been shortening links for over a...

A waveguide lens, photographed showing a hint of the holographic coating. Photo: DigiLens

AR Company DigiLens Jumps in Value; Apple’s Sideloading Ire

By Mathew Olson · Nov 4, 2021 11:00am PDT

A waveguide lens, photographed showing a hint of the holographic coating. Photo: DigiLens

AR Company DigiLens Jumps in Value; Apple’s Sideloading Ire

By Mathew Olson · Nov 4, 2021 11:00am PDT

Samsung Electronics is leading a funding round for DigiLens, valuing the AR display tech firm at more than $500 million, we learned today. Samsung’s involvement signals that the South Korean hardware giant may be readying to debut AR glasses in the near future.DigiLens has worked for years on the development of transparent waveguides, which have... Samsung Electronics is leading a funding round for DigiLens, valuing the AR display tech firm at...

From left: Michael Kades, Jonathan Kanter and Sally Hubbard. Photos by Flickr; AP

Incoming Antitrust Chief’s Hiring Talks Show Divergence From Khan’s FTC

By Josh Sisco · Nov 4, 2021 9:44am PDT

Since outspoken tech critic Lina Khan took control of the Federal Trade Commission, she has hired law professors, activists and other corporate outsiders to shake up the agency. Jonathan Kanter, another tech critic who is about to become the top antitrust official at the Department of Justice, is taking a different approach to hiring his top... Since outspoken tech critic Lina Khan took control of the Federal Trade Commission, she has hired...

Art by Mike Sullivan

Book Excerpt: How Kleiner Perkins Missed Out on Tesla—and Why That’s OK in the Long Run

By John Doerr · Nov 4, 2021 9:00am PDT · 6 comments

All told, the average global temperature has risen by about 1 degree Celsius—or almost 2 degrees Fahrenheit—since 1880. Four degrees Celsius of warming—what numerous studies show will be our fate based on current emissions trends—would devastate the global economy, on a scale that would far surpass the 2008 financial... All told, the average global temperature has risen by about 1 degree Celsius—or almost 2...

Art by Mike Sullivan. Photo by Bloomberg

Facebook Papers Show a Company Locked in Zuckerberg’s Stranglehold

By Mark Di Stefano and Sylvia Varnham O'Regan · Nov 4, 2021 6:00am PDT · 6 comments

It’s no secret that Mark Zuckerberg runs Facebook with an iron fist. But what hasn’t been fully understood is how he frequently became the single point of control for many decisions at a sprawling company with more than 60,000 employees, leading to some of the problems the company faces today, internal company documents and... It’s no secret that Mark Zuckerberg runs Facebook with an iron fist. But what hasn’t...

Former Disney executive Kevin Mayer. Photo by AP

Former Disney Exec Kevin Mayer's Comeback

By Martin Peers · Nov 3, 2021 5:00pm PDT

Former Disney executive Kevin Mayer. Photo by AP

Former Disney Exec Kevin Mayer's Comeback

By Martin Peers · Nov 3, 2021 5:00pm PDT

How the world turns! A little more than a year ago, Disney’s onetime streaming chief, Kevin Mayer, looked like he had made the career blunder of the decade by quitting as CEO of TikTok during a short-lived fuss over the hugely popular app’s Chinese ownership. Today, though, Mayer has emerged as a player in the intense battle underway between... How the world turns! A little more than a year ago, Disney’s onetime streaming chief, Kevin...