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

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

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 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

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 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

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

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

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...

CoinShares CSO Meltem Demirors and CoinShares CEO Jean-Marie Mognetti. Photos by CoinShares.

CoinShares’ Meltem Demirors on Bitcoin’s Next Moves; Coinbase Hits Subscribe

By Hannah Miller · Nov 3, 2021 4:43pm PDT

Total new investments in cryptocurrency products and funds have reached a record $8.7 billion so far this year, which is already 30% higher than the total for 2020, according to a report released Monday by CoinShares, the largest digital asset manager in Europe. Meltem Demirors, chief strategy officer for CoinShares, said inflation fears... Total new investments in cryptocurrency products and funds have reached a record $8.7 billion so...

The Rise of E-commerce and Shoppable Media

By The Information Staff · Nov 3, 2021 4:07pm PDT

The Rise of E-commerce and Shoppable Media

By The Information Staff · Nov 3, 2021 4:07pm PDT

During The Information’s Women in Tech, Media and Finance Summit on October 7th, The Information hosted a masterclass on “The Rise of E-commerce and Shoppable Media” with Rachel Tipograph, Founder & CEO, MikMak and Susan Goldsmith, Principal, Deloitte Consulting LLP. According to the discussion, the key to... During The Information’s Women in Tech, Media and Finance Summit on October 7th, The...

Screenshots of Facebook's subscription feature. Photo: Facebook. Illustration: Mike Sullivan

Creator Economy

Facebook Ups Ante on Fan Subscriptions; Clubhouse’s Global Expansion

By Kaya Yurieff · Nov 3, 2021 2:40pm PDT

Social media creators have emerged as key players in the tussle between Apple and Facebook over in-app payments. The latest: Facebook is circumventing Apple’s 30% fee on in-app purchases by offering creators a personalized subscription link. Now creators can direct fans to a website to purchase a subscription to their content using Facebook... Social media creators have emerged as key players in the tussle between Apple and Facebook over...

Avatars dressed as pirates in Rec Room. Credit: Rec Room

Rec Room Touts Record Growth; Meta’s Latest Quest Update

By Mathew Olson · Nov 3, 2021 11:00am PDT

Mark Zuckerberg hopes the metaverse can free his company from its dependence on mobile platforms controlled by others like Apple and Google. Here’s a problem: at least two of the metaverse-like platforms that now exist, Roblox and Rec Room, are finding great success on mobile. That raises the question of whether metaverse aspirants can build... Mark Zuckerberg hopes the metaverse can free his company from its dependence on mobile platforms...

Former Disney streaming chief Kevin Mayer. Photo by AP

Kevin Mayer’s Blackstone-backed Group Nears $3 Billion Deal for Moonbug Entertainment

By Jessica Toonkel · Nov 3, 2021 6:38am PDT

A Blackstone-backed company led by former Disney executives Kevin Mayer and Tom Staggs is nearing a deal to acquire Moonbug Entertainment, which makes childrens shows for streaming services, at a valuation that could reach a little above $3 billion, according to people familiar with the situation. The deal is not yet done and could still... A Blackstone-backed company led by former Disney executives Kevin Mayer and Tom Staggs is nearing...

Marc Andreessen, left, and Ben Horowitz. Photos by AP; Bloomberg

Why Andreessen Horowitz Might Go Public

By Berber Jin · Nov 3, 2021 6:01am PDT · 3 comments

Marc Andreessen, left, and Ben Horowitz. Photos by AP; Bloomberg

2022 Predictions

Why Andreessen Horowitz Might Go Public

By Berber Jin · Nov 3, 2021 6:01am PDT · 3 comments

Historically, VC firms were too small to go public. But that may soon change. Amid a massive upheaval in venture capital, the largest firms are starting to look more like public companies in size and structure. Among them, Andreessen Horowitz stands out. I predict it will prepare to go public as early as next year. A public listing would... Historically, VC firms were too small to go public. But that may soon change. Amid a massive...