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

5 Startups That Raised Twice Last Year; Wordle Guesses Sweep Twitter

Creator Economy

5 Startups That Raised Twice Last Year; Wordle Guesses Sweep Twitter

By Mahira Dayal · Jan 10, 2022 3:53pm PST

The big checkbooks chasing creator economy startups meant that a handful of U.S.-based firms from our Creator Economy database managed to raise two or more rounds of venture capital last year. Our latest chart shows that most of the double dippers were high profile names, including NFT marketplace OpenSea, live shopping app Whatnot and... The big checkbooks chasing creator economy startups meant that a handful of U.S.-based firms from...

Why Enterprise Software IPOs Are Outperforming Other Tech IPOs

By Aidan Ryan · Jan 10, 2022 11:56am PST · 1 comment

Enterprise software stocks, once Wall Street darlings, have fallen sharply in the past six months. But newly public enterprise software companies have been able to buck the worst of the sell-off as investors bet on rising new stars such as Confluent and Monday.com. Shares of 11 enterprise software stocks that went public via a traditional... Enterprise software stocks, once Wall Street darlings, have fallen sharply in the past six...

A concept image of Minecraft running on HoloLens, from the product line's early days. Credit: Microsoft

More on Meta AR Poaching Spree; Snap’s Latest Hardware Acquisition

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

Last summer, Microsoft’s leader on its HoloLens AR headset initiatives told The Wall Street Journal that the company is “absolutely working on” a consumer AR device, but declined to give any kind of timeline on when to expect it. It’s likely that Microsoft’s new AR chip collaboration with Qualcomm is also part of this plan, but a new report from... Last summer, Microsoft’s leader on its HoloLens AR headset initiatives told The Wall Street...

Art by Mike Sullivan

Crypto Talent Wars Fuel Sweeter Salaries, Better Perks for Employees

By Mark Matousek · Jan 10, 2022 6:00am PST

Art by Mike Sullivan

Crypto Talent Wars Fuel Sweeter Salaries, Better Perks for Employees

By Mark Matousek · Jan 10, 2022 6:00am PST

It used to be that crypto startups could count on their missionary appeal to woo and retain top-notch talent, along with the possibility of a big payoff from tokens and equity they doled out to employees. In exchange, many employees didn’t mind missing out on some standard job perks or even taking slight haircuts on salary. Now though, as... It used to be that crypto startups could count on their missionary appeal to woo and retain...

Li-Cycle's recycling plant in Kingston, Canada. Photo: Christinne Muschi/Bloomberg

Tesla’s Scrap Hell Helps Explain Battery-Recycling Deals by Ford and GM

By Steve LeVine · Jan 9, 2022 2:00pm PST

Welcome back to The Electric! Save the date and register: One establishment automaker stands out in its determination to compete with runaway industry leader Tesla. It's Volkswagen. In that spirit, I'm excited to welcome VW's Thomas Schmall, chief of technology for the company as a member of its Board of Management, as my guest for the next... Welcome back to The Electric! Save the date and register: One establishment automaker stands...

The Great Immigrant Resignation; Why iPod Shuffles Are In; Why Cryptospeak Is Out; and Presenting Our First-Ever Holmesie Awards

The Great Immigrant Resignation; Why iPod Shuffles Are In; Why Cryptospeak Is Out; and Presenting Our First-Ever Holmesie Awards

By Jon Steinberg · Jan 8, 2022 8:00am PST

Hi, welcome to your Weekend!While we can’t say that the start of 2022 was as disorienting as last year’s insurrection-impeachment-inauguration triple-whammy, the new year still began with a couple of pocket-sized bombshells. Out here in Silicon Valley, the Elizabeth Holmes trial ended as many expected: with the ex-Theranos boss’s conviction on... Hi, welcome to your Weekend!While we can’t say that the start of 2022 was as disorienting as last...

Art by Mike Sullivan.

Why Influencer Journalists Should Not Be the Future of Journalism

By Jessica E. Lessin · Jan 8, 2022 5:00am PST · 4 comments

A new year is a cause for reflection—and for resuming this column, which I intend to write regularly, but not every week. You may recall I took a break to have my third child. All is well—and busy—in the Lessin household, and at The Information, which is growing rapidly.As I look across the media industry, I see a new genre of news organization... A new year is a cause for reflection—and for resuming this column, which I intend to write...

Traders on the New York Stock Exchange this week. Photo by Bloomberg.

What Discovery’s Rally Says About the Market

By Martin Peers · Jan 7, 2022 4:01pm PST

Traders on the New York Stock Exchange this week. Photo by Bloomberg.

What Discovery’s Rally Says About the Market

By Martin Peers · Jan 7, 2022 4:01pm PST

You know something’s screwy on Wall Street when shares of Discovery, the TV company due to merge with WarnerMedia later this year, rise 17% in one day, as they did today. While the rally was ostensibly sparked by a bullish analyst report, a bigger factor is undoubtedly the general market environment. High-growth tech stocks are no longer the... You know something’s screwy on Wall Street when shares of Discovery, the TV company due to merge...

Rod Sims, Australia's chief antitrust official. Photo by AP.

Q&A

Don’t Break Up Big Tech, Says Antitrust Enforcer Who Fought Facebook

By Mark Di Stefano · Jan 7, 2022 3:41pm PST · 5 comments

Australia has been punching way above its weight when it comes to tech regulation. Its showdown over news on Alphabet’s Google and Meta Platforms’ Facebook last year grabbed the world’s attention, forcing the two internet companies to back down from threats and agree to deals with traditional media outlets that are... Australia has been punching way above its weight when it comes to tech regulation. Its showdown...

Illustration by Josh Brill

When the Brands Came for Crypto: Can a Subculture Survive the Social Media Managers?

By Margaux MacColl · Jan 7, 2022 2:00pm PST · 3 comments

Within the dark caverns and crevices of Twitter, there is a singular sunny corner: the lair of the non-fungible token influencer. Their tweets are littered with optimistic acronyms: LFG for “let’s fucking go.” WAGMI for “we’re all going to make it.” GM to bid fellow crypto believers a good morning. It’s a place where meme-inspired jokes sing in... Within the dark caverns and crevices of Twitter, there is a singular sunny corner: the lair of...

Art by: Haejin Park. Photos courtesy of Kira Vaden, Tega Akinola, Myra Magdalen

Millennials Brought Back Vinyl. Gen-Z Is Reviving the iPod Shuffle and Ethernet Cables

By Annie Goldsmith · Jan 7, 2022 12:00pm PST · 2 comments

Kira Vaden was compulsively refreshing eBay, watching prices rise and fall on one specific product: “vintage” iPod Shuffles from the late aughts. Vaden, a 23-year-old Starbucks barista from Peoria, Ill., finally pulled the trigger in December, purchasing a pack of two Shuffles for $11.50. She didn’t know whether the tiny music players worked or... Kira Vaden was compulsively refreshing eBay, watching prices rise and fall on one specific...

Clockwise from top left: Sneha Biswas, Anshul Rathi, Angad Daryani, Aryan Chauhan, Sameer and Pragya Goyal.

The Great Immigrant Resignation: Fed Up Indian Tech Workers Ditch the American Dream

By Anita Raghavan · Jan 7, 2022 9:00am PST · 12 comments

Clockwise from top left: Sneha Biswas, Anshul Rathi, Angad Daryani, Aryan Chauhan, Sameer and Pragya Goyal.

The Great Immigrant Resignation: Fed Up Indian Tech Workers Ditch the American Dream

By Anita Raghavan · Jan 7, 2022 9:00am PST · 12 comments

For four years, Sameer and Pragya Goyal lived the Indian American Dream. Newly immigrated from India to the U.S., the Goyals both worked for Amazon, notching six-figure salaries in their 20s. They lived in an apartment in downtown Seattle with floor-to-ceiling windows that afforded a precious glimpse of an inlet that flowed out to the Pacific... For four years, Sameer and Pragya Goyal lived the Indian American Dream. Newly immigrated from...

Art by Haejin Park. Photo by Bloomberg.

And the Holmesie Award Goes To…

By Annie Goldsmith and Jon Steinberg · Jan 7, 2022 7:00am PST · 6 comments

For 17 emotional weeks, the Elizabeth Holmes trial had all the makings of a primo soap opera: heartache, drama, sex, lies, twists, turns and one helluva femme fatale. We had main characters: disgraced Theranos chief Elizabeth; her bescarfed mother, Noel; her partner and Burning Man companion, Billy Evans; anti-keyboard crusader Judge Edward... For 17 emotional weeks, the Elizabeth Holmes trial had all the makings of a primo soap opera:...

Chart by Mike Sullivan

Media Valuations Sink, Unless Subscriptions Are in Play

By Sahil Patel · Jan 7, 2022 6:00am PST · 1 comment

The Athletic is selling to The New York Times for a little more than its last post-money valuation after a funding round in 2020. But valuations have held up better for subscription-focused businesses like the sports news site than for the broader digital media sector. Even with advertising sales on the rise and digital media firms seeking other... The Athletic is selling to The New York Times for a little more than its last post-money...

A virtual island in online blockchain game Nifty Island. Photo by Nifty Island.

How Blockchain Gaming Startup Nifty Island Plans to Take on the Metaverse

By Hannah Miller · Jan 6, 2022 5:10pm PST

Online gaming platform Nifty Island wants to use blockchain technology to become the crossroads of the metaverse. Online gaming platform Nifty Island wants to use blockchain technology to become the crossroads...

New York Times Co CEO Meredith Kopit Levien. Photo by Bloomberg.

What Buying The Athletic Says About NYT

By Martin Peers · Jan 6, 2022 5:00pm PST

New York Times Co CEO Meredith Kopit Levien. Photo by Bloomberg.

What Buying The Athletic Says About NYT

By Martin Peers · Jan 6, 2022 5:00pm PST

Folks throughout traditional media should take heart from The New York Times Co.’s $550 million purchase of The Athletic today. The deal crystallizes The Times’ remarkable recovery from the dark days of the 2008 financial crisis, which accelerated a dismantling of a onetime print-and-TV empire into a single newspaper. A dozen years ago, you... Folks throughout traditional media should take heart from The New York Times Co.’s $550 million...

Bryan Reisberg and Maxine, his internet famous corgi. Photo: @madmax_fluffyroad & @heylittlechonk

Creator Economy

Spotify’s Clubhouse Rival is a Ghost Town; An Interview With an Instagram-Famous Corgi Owner

By Kaya Yurieff · Jan 6, 2022 3:19pm PST

You have to wonder what’s happening with Spotify’s social audio app Greenroom. In a virtual media presentation at the annual CES consumer tech conference Wednesday, Spotify touted a half dozen recent efforts to make audio features more interactive, from video podcasts to revamped ads that feature a clickable “Shop Now” option. Notably... You have to wonder what’s happening with Spotify’s social audio app Greenroom. In a virtual media...

A meeting in Horizon Workrooms. Image: Meta

Decoding This Week’s Metaverse Backlash; Developments in Driver AR

By Mathew Olson · Jan 6, 2022 11:00am PST

As we near the end of the first week of 2022 and glide through what might as well be a hybrid Consumer Electronics Show, the metaverse is being mocked and torn into on Twitter. It would be a pity, however, if what is justifiable skepticism about the over-use of the term obscures the real potential of the underlying concept.Since Facebook’s... As we near the end of the first week of 2022 and glide through what might as well be a hybrid...

Photos by Bloomberg; AP. Art by Mike Sullivan.

Twitter Hasn’t Learned the Lessons of January 6

By Gwen Snyder · Jan 6, 2022 9:00am PST · 4 comments

Twitter has long banned the publication of users’ private information without their consent, a logical response to the very real harms of doxxing. Toward the end of last year, it extended that ban to include photos of private individuals—another seemingly logical move, but one that had immediate destructive effects. Far-right trolls... Twitter has long banned the publication of users’ private information without their...

The Athletic founder Alex Mather.

NYT To Buy The Athletic for $550 Million

By Jessica Toonkel · Jan 6, 2022 7:15am PST · 9 comments

The Athletic founder Alex Mather.

NYT To Buy The Athletic for $550 Million

By Jessica Toonkel · Jan 6, 2022 7:15am PST · 9 comments

The New York Times Co has agreed to acquire subscription sports site The Athletic in a deal valued at around $550 million, the company announced, confirming The Information's report earlier today. The deal is a major acquisition for the Times, giving it a new pocket of subscription customers to the New York Times, which has set an ambitious... The New York Times Co has agreed to acquire subscription sports site The Athletic in a deal...