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

BigCommerce Isn’t a Shopify Clone—And What That Means For Its Stock

By Malique Morris · Dec 15, 2021 6:00am PST

On the surface, you might think BigCommerce is getting smaller. The e-commerce software provider said it had 58,600 merchants using its services in the third quarter, down from 60,000 at the end of last year. That decline has undercut Wall Street’s belief that BigCommerce is the next Shopify: BigCommerce’s stock has dropped by half... On the surface, you might think BigCommerce is getting smaller. The e-commerce software provider...

Microsoft's Redmond campus. Photo by Bloomberg.

What We're Losing in Endless Remote Work

By Martin Peers · Dec 14, 2021 5:00pm PST

Former AOL CEO Tim Armstrong won’t win many friends with his comments, published in The Information today, that young people should go back to the office to protect their own career development. It’s an unfashionable view, particularly given the surging Omicron variant. It may also be impractical right now. California’s reintroduction of an... Former AOL CEO Tim Armstrong won’t win many friends with his comments, published in The...

Rand Labs Co-Founders Pablo Yabo and Michel Dahdah. Photo by Rand Labs. Art by Mike Sullivan.

Inside a Startup Using Algorand Blockchain; CoinMarketCap’s Fat Finger; Musk Moves Dogecoin

By Hannah Miller · Dec 14, 2021 4:00pm PST

Bitcoin, Ethereum and Solana are familiar names in blockchain, but developers are turning to other options as well. Here’s an inside look at C3, a decentralized finance protocol built on the Algorand blockchain. Founders: Pablo Yabo and Michel DahdahMoney Raised: $3.6 million at a $20 million valuationInvestors: Arrington XRP Capital, Jump... Bitcoin, Ethereum and Solana are familiar names in blockchain, but developers are turning to...

Photo: Bloomberg

The Math on Snap’s Spotlight Payouts

By Mahira Dayal · Dec 14, 2021 3:38pm PST

Photo: Bloomberg

Creator Economy

The Math on Snap’s Spotlight Payouts

By Mahira Dayal · Dec 14, 2021 3:38pm PST

On Tuesday, Snap disclosed a big new number: This year, it has paid 12,000 creators over $250 million to make videos for Spotlight, its short-form video alternative to TikTok. The Snapchat parent was one of the first social networks to dedicate a special pool of money to pay creators, announcing just over a year ago that it would spend $1... On Tuesday, Snap disclosed a big new number: This year, it has paid 12,000 creators over $250...

The Information’s Return to the Office Tracker: Winter 2021

By Sarah Krouse and Mark Matousek · Dec 14, 2021 11:45am PST

For nearly two years, tech executives have wrestled with the question of whether and how to reopen their physical workspaces. Some were quick to declare that the age of the office was over, while others have gravitated toward a middle ground. The biggest tech companies—including Apple, Microsoft and Meta Platforms, Facebook’s parent... For nearly two years, tech executives have wrestled with the question of whether and how to...

Artwork for Among Us VR, which was announced late last week. Credit: Innersloth/Schell Games

Meta’s Busy December; Spatial’s Art Gallery Pivot; A New AR Googler

By Mathew Olson · Dec 14, 2021 11:00am PST

Last week’s Horizon Worlds public debut was just the start of Meta Platforms’ busy December, it seems. Meta is engaged in a flurry of AR/VR activity, including the rollout of a new beta AR app, expanding the reach of the avatars it offers and its latest Quest advertising push. Mercifully, this slew of news is more grounded in the present than... Last week’s Horizon Worlds public debut was just the start of Meta Platforms’ busy December, it...

Tim Armstrong. Photo by Bloomberg

Q&A

Former AOL CEO Tim Armstrong Says the ‘Earthverse’ Matters More Now Than the Metaverse

By Jessica Toonkel · Dec 14, 2021 9:02am PST

Digital advertising veteran Tim Armstrong thinks Facebook’s rebranding to Meta Platforms was “number one in the best marketing jiujitsu moves of the last 200 years.” But while he thinks there is a big opportunity in the metaverse long term, he is more upbeat about the near-term opportunity of what he calls the... Digital advertising veteran Tim Armstrong thinks Facebook’s rebranding to Meta Platforms...

Photo of Intuit headquarters provided by Intuit. Art by Mike Sullivan.

Tech Talent Shortage Looms Behind Return-to-Office Delays

By Sarah Krouse and Mark Di Stefano · Dec 14, 2021 6:00am PST

Photo of Intuit headquarters provided by Intuit. Art by Mike Sullivan.

Tech Talent Shortage Looms Behind Return-to-Office Delays

By Sarah Krouse and Mark Di Stefano · Dec 14, 2021 6:00am PST

A near-record number of tech job openings. Morale problems. Employee anxiety about new Covid-19 variants. Those factors and others are leading more tech companies to a similar conclusion: Let’s punt a return-to-office plan until sometime next year. Earlier this month, for example, Intuit executives told staff at the financial software... A near-record number of tech job openings. Morale problems. Employee anxiety about new Covid-19...

Vox CEO Jim Bankoff. Photo by Bloomberg.

Why Vox and Group Nine Shouldn’t Celebrate Their Merger

By Martin Peers · Dec 13, 2021 5:00pm PST

Digital media firms should go into the lemonade business, given how good they are at turning the lemons their businesses represent into their liquid versions. Today, for instance, we got news that Vox Media and Group Nine Media are in “advanced” talks to merge. In a note to staff, Vox CEO Jim Bankoff pronounced the deal “one of the most exciting... Digital media firms should go into the lemonade business, given how good they are at turning the...

Twitch Co-Founder Gives Solana a Vote of Confidence; Elon Musk on Moving Crypto Markets

By Hannah Miller · Dec 13, 2021 4:05pm PST

The Solana blockchain just got another endorsement. Justin Kan, co-founder of streaming platform Twitch, said Monday that he’s launching a non-fungible token marketplace called Fractal that will be based on Solana. “I believe that Solana is the future of gaming,” Kan told TechCrunch.Fractal, which will focus on gaming NFTs, could show whether a... The Solana blockchain just got another endorsement. Justin Kan, co-founder of streaming platform...

Grin CEO Brandon Brown. Photo: Grin

Creator Economy

Grin CEO on Why Every Company Needs a Salesforce for Creators

By Kaya Yurieff · Dec 13, 2021 3:40pm PST

Over the past decade, dozens of influencer marketing firms have cropped up to broker deals between internet personalities and advertisers trying to reach their audiences. Agents, managers and other staff handle negotiating prices and coming up with creative ideas and strategies. Grin takes a more tech-heavy approach. The $910... Over the past decade, dozens of influencer marketing firms have cropped up to broker deals...

Photo of Anatoly Yakovenko by Solana. Art by Mike Sullivan

Solana Generates $1 Billion in Returns for Multiple Early Backers

By Hannah Miller · Dec 13, 2021 2:42pm PST · 4 comments

Photo of Anatoly Yakovenko by Solana. Art by Mike Sullivan

Solana Generates $1 Billion in Returns for Multiple Early Backers

By Hannah Miller · Dec 13, 2021 2:42pm PST · 4 comments

When Solana Labs CEO Anatoly Yakovenko tried to raise money in 2018 to develop his idea for a faster blockchain for financial transactions, bitcoin prices were diving and investors were leery of blockchain startups. Then the former Qualcomm engineer convinced a friend he met playing underwater hockey to become an early investor. And that swim... When Solana Labs CEO Anatoly Yakovenko tried to raise money in 2018 to develop his idea for a...

An Amazon Fresh store in London. Photo by Bloomberg.

Amazon Ramps Up Plans for Instacart-Like Service in U.S., Europe

By Paris Martineau and Mark Di Stefano · Dec 13, 2021 6:00am PST

In recent years, Amazon has attracted wide attention with its effort to become a force in the grocery industry, from its $13.7 billion acquisition of Whole Foods to its flashy rollout of tech-enabled stores like Amazon Fresh and Amazon Go. But the internet retailer has also quietly been laying the groundwork to become a major player in a less... In recent years, Amazon has attracted wide attention with its effort to become a force in the...

Rivian's IPO in November was one of the biggest of the year in any category. Photo: Bing Guan/Bloomberg

Good Bet or High Risk? The Electric’s Prognosis For 16 EV and Battery Stocks

By Steve LeVine · Dec 12, 2021 2:00pm PST

Welcome back to The Electric! The last year and a half has been a maelstrom in the automotive industry as the Tesla juggernaut finally persuaded mainstream carmakers that they had to go electric, igniting a boom of electric vehicle and battery startups. Today, I assess 16 companies that went public during this period. Over the last 18... Welcome back to The Electric! The last year and a half has been a maelstrom in the...

Art by Haejin Park.

It’s Digital Overload as NFTs Take Manhattan, Eat Art Basel, and Bring Back the Homies

By Jon Steinberg · Dec 11, 2021 8:00am PST

Hi, welcome to your Weekend!Remember the Homies? If you came of age in 1990s California like I did, you may recall seeing the plastic figurines of Latino barrio characters being sold in supermarket vending machines, comic book shops and convenience stores. They made an overnight success out of artist David Gonzalez, who sold millions... Hi, welcome to your Weekend!Remember the Homies? If you came of age in 1990s California like I...

Photo: Jonas Goldstein

Minting Takes Manhattan: An NFT Gallery Sells Millions Even Before the Art Is Made

By Margaux MacColl · Dec 11, 2021 6:00am PST · 6 comments

Photo: Jonas Goldstein

Scene and Heard

Minting Takes Manhattan: An NFT Gallery Sells Millions Even Before the Art Is Made

By Margaux MacColl · Dec 11, 2021 6:00am PST · 6 comments

The art was worth at least $7 million, and it hadn’t even been created yet. It was the opening night of non-fungible token artist Tyler Hobbs’ show “Incomplete Control” at the Bright Moments gallery in Soho. The gallery, lit by candles and LCD screens, hosted a crowd of about 100crypto influencers, venture capitalistsand traditional art... The art was worth at least $7 million, and it hadn’t even been created yet. It was the opening...

Instacart CEO Fidji Simo. Photo by AP

Instacart’s Executive Revolving Door Spins Faster

By Martin Peers · Dec 10, 2021 5:00pm PST

It’s a good thing Instacart’s leaders decided to put off plans to go public. Today’s news that company president Carolyn Everson is departing after just three months won’t help the grocery-delivery service turn the page on what has been a year of turmoil in its management ranks. Grappling with the frequent executive reshuffles while preparing to... It’s a good thing Instacart’s leaders decided to put off plans to go public. Today’s news that...

Former Instacart President Carolyn Everson. Photo: Bloomberg

Instacart President’s Exit Followed Disagreement With CEO On Grocer Relationships

By Berber Jin · Dec 10, 2021 4:06pm PST

Carolyn Everson decided to depart as president of Instacart under pressure from CEO Fidji Simo, who had different expectations over how Everson should manage Instacart’s relationship with its grocery retailers, said a person with direct knowledge of the matter. Earlier on Friday, Everson announced her exit from a job she started just three... Carolyn Everson decided to depart as president of Instacart under pressure from CEO Fidji Simo,...

Dollar Bill Y’all - The 411 Podcast

By The Information Staff · Dec 10, 2021 12:55pm PST

Cryptocurrency is soaking up attention, but financial services technologies involving fiat currency have also never been hotter. This week we continue our special five-episode series on The Information 50, our annual list of the most promising startups valued at less than $1 billion, by taking a look at five fintech startups that made the cut. ... Cryptocurrency is soaking up attention, but financial services technologies involving fiat...

A screenshot from an Apple commercial about its App Tracking Transparency software. Screenshot via YouTube

Apple’s Empty Threat? Silence Over iPhone Ad Workarounds Sows Confusion

By Sarah Krouse and Josh Sisco · Dec 10, 2021 11:10am PST · 1 comment

A screenshot from an Apple commercial about its App Tracking Transparency software. Screenshot via YouTube

Apple’s Empty Threat? Silence Over iPhone Ad Workarounds Sows Confusion

By Sarah Krouse and Josh Sisco · Dec 10, 2021 11:10am PST · 1 comment

In a closely followed speech a year ago, Craig Federighi, Apple’s senior vice president of software engineering, talked about Apple’s upcoming restrictions on the way advertisers can track iPhone users. Apple could yank apps from the App Store if they didn’t comply with the new privacy rules, he said. It’s been seven... In a closely followed speech a year ago, Craig Federighi, Apple’s senior vice president of...