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

Binance CEO Changpeng Zhao. Photo by Bloomberg

Binance Blesses Forbes’ SPAC Deal

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

When it comes to weaving a fun story, it’s tough to beat the news media. That’s why we’re skeptical of the explanation crypto exchange Binance is giving for its $200 million investment in Forbes. This is likely less about Binance helping Forbes adapt to Web3 and more about saving Forbes’ SPAC deal from a BuzzFeed-like embarrassment.Let’s... When it comes to weaving a fun story, it’s tough to beat the news media. That’s why we’re...

Matt Koval, a long-time YouTube employee and creator, is joining startup Mighty Networks. Photo: Matt Koval

Creator Economy

YouTube’s Matt Koval Joins Mighty Networks; Twitter CEO on Creator Priorities

By Kaya Yurieff · Feb 10, 2022 2:32pm PST

Matt Koval has spent a lot of time thinking about how to be successful as a creator: He started making YouTube videos in 2008 and about four years later became an employee for the video-sharing site. That tenure, which ends March 1 when he joins startup Mighty Networks, gave him a window into a big challenge facing many creators: how to turn... Matt Koval has spent a lot of time thinking about how to be successful as a creator: He started...

Meta Chief Business Officer Marne Levine.

Women in Tech Leadership Forum

Meta’s Ads Chief: Transition to Metaverse, Reels Will Pay Off

By Sylvia Varnham O'Regan · Feb 10, 2022 1:32pm PST · 1 comment

Marne Levine, chief business officer at Facebook owner Meta Platforms, said the company is in a period of “transition” similar to its difficult shift a decade ago from desktop apps to mobile apps where ads were unproven. “We’re making significant investments in big bets that will pay off in the long term,” she said... Marne Levine, chief business officer at Facebook owner Meta Platforms, said the company is in a...

A plaza in Decentraland, where Samsung has opened a virtual store called 837X. Credit: Decentraland Foundation.

Samsung’s Latest AR Moves; Microsoft’s Potent App Store Promises

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

A plaza in Decentraland, where Samsung has opened a virtual store called 837X. Credit: Decentraland Foundation.

Samsung’s Latest AR Moves; Microsoft’s Potent App Store Promises

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

Gadget hounds more or less knew what to expect from Samsung’s first big event of the year yesterday: new phones and tablets under the Galaxy brand. Compared to Apple and even Google with its refresh of the Pixel phone last year, Samsung isn’t pitching its phones on the merits of AR all that hard—but that doesn’t mean the company’s interest in... Gadget hounds more or less knew what to expect from Samsung’s first big event of the year...

LinkedIn Chief People Officer, Teuila Hanson

Women in Tech Leadership Forum

LinkedIn: More ‘Boomerang’ Employees Are Returning to the Social Network

By Sarah Krouse · Feb 10, 2022 10:55am PST · 1 comment

LinkedIn hasn’t been immune from the pandemic-spurred exodus of workers. Lately, however, it has seen a new trend: Employees who left over the last two years are returning, Chief People Officer Teuila Hanson said in an interview. Since early September, 145 employees who left the company have come back as “boomerangs,” she said... LinkedIn hasn’t been immune from the pandemic-spurred exodus of workers. Lately, however,...

Spotify CEO Daniel Ek. Photo by Bloomberg.

Spotify’s Finances Show Why Music Streaming Is a Terrible Business

By Martin Peers · Feb 10, 2022 8:45am PST · 6 comments

Investors have slowly awakened to the realization that video streaming, as exemplified by Netflix, is a high-cost venture with lots of competition and no guarantee of a cash payoff. The economics of music streaming, though, are even worse. Just look at Spotify. It’s no secret that music companies take most of the money Spotify collects.... Investors have slowly awakened to the realization that video streaming, as exemplified by...

Apple ad announcing new privacy options for blocking mobile ad tracking.

Ad Tech Startup Branch Raises $300 Million as Sector Survives Apple Crackdown

By Sarah Krouse · Feb 10, 2022 6:00am PST

When Apple launched a sweeping iPhone privacy change last year, it spelled trouble for the entire online ad industry, including companies that help advertisers and app developers measure whether mobile ads prompted consumers to make purchases. Facebook owner Meta Platforms and other ad sellers took a hit, but the intermediaries that measure... When Apple launched a sweeping iPhone privacy change last year, it spelled trouble for the entire...

KKR offices in London. Photo: Bloomberg

KKR Shows Private Equity’s Crypto Cravings; Dune Analytics Opens Window on Blockchain Data

By Akash Pasricha · Feb 9, 2022 5:45pm PST

KKR offices in London. Photo: Bloomberg

KKR Shows Private Equity’s Crypto Cravings; Dune Analytics Opens Window on Blockchain Data

By Akash Pasricha · Feb 9, 2022 5:45pm PST

Private equity has its sights set on crypto. The latest: KKR is considering an investment in Animoca Brands, a Hong Kong-based gaming company building metaverse products with blockchain, according to a Bloomberg report. The investment is said to value the company at over $5 billion.This story may sound familiar. In November, The Information... Private equity has its sights set on crypto. The latest: KKR is considering an investment in ...

Join the Special Forces of Tech Journalism

By Jessica E. Lessin · Feb 9, 2022 5:05pm PST

Tech companies are the most powerful companies in the world. They are run by some of the most powerful people in the world. And most of what they do remains hidden in the shadows, obscured by complex processes and maneuvers. Here at The Information, we know technology. No organization has more expertise covering its power. We also know that... Tech companies are the most powerful companies in the world. They are run by some of the most...

Disney CEO Bob Chapek. Photo by Bloomberg.

The Risks of Disney’s Quick Fix for Subscriber Growth

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

Disney has figured out an ingenious way to jump-start its streaming subscriber growth—give people less of a choice! Since late December, Disney has automatically included Disney+ and ESPN+ in one of its Hulu offerings, at a slightly higher price than it previously charged, we learned today. Ingenious! It’s a reminder that the customer-unfriendly... Disney has figured out an ingenious way to jump-start its streaming subscriber growth—give people...

Former Twitch executive and creator Marcus Graham. Photo: Courtesy Marcus Graham

Creator Economy

The Tech Employees Who Are Also Creators

By Kaya Yurieff · Feb 9, 2022 2:00pm PST

This morning we published a feature on what you might call a side-hustle side effect: more workers at social networks that support creators are creators themselves. I spoke with former employees at companies like TikTok and Twitch, plus executives at creator-focused platforms Patreon and Cameo, about how both employees and companies are... This morning we published a feature on what you might call a side-hustle side effect: more...

One of the "calm" visual settings available in the Tripp VR app's composer tool. Credit: Tripp.

Finding Meditation’s Place in the Metaverse; Snap’s Spending Money

By Mathew Olson · Feb 9, 2022 11:00am PST · 1 comment

One of the "calm" visual settings available in the Tripp VR app's composer tool. Credit: Tripp.

Finding Meditation’s Place in the Metaverse; Snap’s Spending Money

By Mathew Olson · Feb 9, 2022 11:00am PST · 1 comment

When Facebook bought Oculus, fitness was not a VR category people had high hopes for. But it now appears that all VR needed to make exercise apps an attractive business was wireless headsets. Could meditation be on a similar path?There’s certainly reasons to think so. Indeed, VR is already key to mindfulness or spirituality for some. There’s the... When Facebook bought Oculus, fitness was not a VR category people had high hopes for. But it now...

Art by Mike Sullivan

Why Startups Shouldn’t Worry About Inflation

By Tomasz Tunguz · Feb 9, 2022 9:00am PST · 3 comments

Startups have enjoyed a phenomenal decade. The confluence of low interest rates and flat costs enabled a thousand $1 billion flowers to bloom. To start off 2022, inflation has surged to multidecade highs. Meanwhile, the Fed hasn’t minced words in declaring its intent to raise interest rates. The market’s swift response: Valuation... Startups have enjoyed a phenomenal decade. The confluence of low interest rates and flat costs...

Illustration by Jesus Escudero

From TikTok to Twitch, Employees Juggle Conflicts While Moonlighting as Influencers

By Kaya Yurieff · Feb 9, 2022 6:00am PST

When Jenna Palek applied for a sales position at TikTok in the spring of 2020, she did something creative to help her get hired: She posted a 58-second clip of herself on the short video–sharing app highlighting her qualifications while performing dance moves popularized on TikTok. It worked. Palek nabbed the job after the video went... When Jenna Palek applied for a sales position at TikTok in the spring of 2020, she did something...

Etoro is among the crypto companies planning to go public via a SPAC this year. Photo: Bloomberg

A Wave of Crypto SPACs Approaches; Katie Haun’s Newest Hire

By Aidan Ryan · Feb 8, 2022 5:51pm PST

Can a wave of crypto SPACs shake the IPO market out of its doldrums? A group of blockchain startups and their merger partners is going to try. Despite a slow start for public listings this year, at least two crypto startups have already announced plans to go public via a merger with a special purpose acquisition company this year. More are... Can a wave of crypto SPACs shake the IPO market out of its doldrums? A group of blockchain...

Nvidia CEO Jen-Hsun Huang. Photo by Bloomberg.

What Demise of Nvidia-Arm Deal Says About Regulators’ Impact

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

Nvidia CEO Jen-Hsun Huang. Photo by Bloomberg.

What Demise of Nvidia-Arm Deal Says About Regulators’ Impact

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

It’s been an action-packed 24 hours in tech and, unlike most of the past month, the stock market didn’t drive today’s developments. If there is a common thread running through the latest news, it’s the specter of big tech companies expanding their market power. That’s most obviously true in Nvidia’s abandonment of its Arm acquisition, confirmed... It’s been an action-packed 24 hours in tech and, unlike most of the past month, the stock market...

How Often Meta and Facebook Execs Have Mentioned Reels (Chart)

Creator Economy

How Often Meta and Facebook Execs Have Mentioned Reels (Chart)

By Mahira Dayal · Feb 8, 2022 3:30pm PST

Meta Platforms’ earnings call last week was a clear indication of what the owner of Facebook and Instagram is focused on this year: Reels. In the earnings call for the fourth quarter, executives mentioned Reels 34 times and analysts used it another six, according to a transcript of the call. Combined, the 40 instances amount to a mention of the... Meta Platforms’ earnings call last week was a clear indication of what the owner of Facebook and...

From left: An Amazon fulfillment center, GoPuff advertisements in NYC; Instacart workers in a grocery store. Photos by Bloomberg

Amazon Talent Decamps For Instacart, Gopuff by the Hundreds

By Paris Martineau · Feb 8, 2022 1:35pm PST · 1 comment

Amazon has lost at least 200 corporate employees who defected to Instacart and Gopuff over the past year as the two delivery players scooped up talent to expand their logistics operations and build out their advertising businesses. Instacart’s and Gopuff’s hiring, the scope of which hasn’t previously been reported, includes... Amazon has lost at least 200 corporate employees who defected to Instacart and Gopuff over the...

A promotional image for Meta's upcoming Quest 2 Super Bowl ad campaign. Credit: Meta Platforms.

VR and AR at the Super Bowl; Tobii’s CEO on the Rise of Eye Tracking

By Mathew Olson · Feb 8, 2022 11:00am PST

Super Bowl ads don’t come cheap. This year, broadcaster NBC said that some 30-second spots sold for up to $7 million, setting a new record for what’s routinely the most-watched U.S. sports event. And this Sunday’s game is poised to include some of the biggest advertising pushes for immersive tech yet.Pepsi will integrate AR features as part of... Super Bowl ads don’t come cheap. This year, broadcaster NBC said that some 30-second spots sold...

Meta Platforms Org Chart: The Leaders Driving a Make-or-Break Reinvention

By Sylvia Varnham O'Regan · Feb 8, 2022 6:00am PST

Meta Platforms Org Chart: The Leaders Driving a Make-or-Break Reinvention

By Sylvia Varnham O'Regan · Feb 8, 2022 6:00am PST

As Facebook owner Meta Platforms charts an uncertain new direction into what CEO Mark Zuckerberg refers to as the metaverse, teams across the business have been undergoing shakeups amid a string of executive departures. More than 40 changes are reflected in our updated org chart of around 160 senior executives and managers at Meta, including... As Facebook owner Meta Platforms charts an uncertain new direction into what CEO Mark Zuckerberg...