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

Incoming Meta Platforms CTO Andrew Bosworth speaks during the virtual Facebook Connect event in October. Screengrab via YouTube.

Meta Bets on Blockchain; New Crypto Legislation Could Ring in 2022

By Hannah Miller · Dec 23, 2021 4:22pm PST

Meta Platforms is diving even further into the blockchain matrix. It wants to create “deep compatibility” with blockchain technology, according to an internal post that The New York Times obtained. In his post on Tuesday, Andrew Bosworth, who leads Meta’s augmented reality and virtual reality efforts, said that the company is interested in... Meta Platforms is diving even further into the blockchain matrix. It wants to create “deep...

Credit: Bloomberg, Illustration: Mike Sullivan

Creator Economy

Creator Economy: 2021 Year in Review and Our 2022 Predictions

By Kaya Yurieff · Dec 23, 2021 2:00pm PST

Welcome to the last Creator Economy newsletter of 2021. Thank you so much for reading, sharing with others and giving your feedback and tips. As of today, we have published 134 editions of this newsletter. We’ve chronicled the competition among tech giants for internet performers, tracked new startups, spotlighted creators, brought... Welcome to the last Creator Economy newsletter of 2021. Thank you so much for reading, sharing...

‘The Only Way to Find Out If You’re a Pariah Is to Stick Around’: Sophia Amoruso Looks to the Future

By Josh Duboff · Dec 23, 2021 12:00pm PST · 3 comments

Sophia Amoruso has complicated feelings about the word “girlboss.” “That poor word, I feel so bad for that word,” she says over the phone from her home in Los Angeles. “It must be so exhausted. It is exhausted. It does need to be put to rest. I have no attachment to it. I kind of cringe when people are like, ‘You’re a girlboss,’ or whatever. I... Sophia Amoruso has complicated feelings about the word “girlboss.” “That poor word, I feel so bad...

A close up of the Magic Leap 2 AR headset. Credit: Magic Leap

Magic Leap Departures; A Look at Meta’s VR Open Source Support

By Mathew Olson · Dec 23, 2021 11:30am PST

A close up of the Magic Leap 2 AR headset. Credit: Magic Leap

Magic Leap Departures; A Look at Meta’s VR Open Source Support

By Mathew Olson · Dec 23, 2021 11:30am PST

A string of executives have lately exited Magic Leap, Reality Check has learned, including some people who joined earlier this year. These exits, previously unreported, add to the air of uncertainty around the company’s future. Tracey Trewin, Magic Leap’s Chief Product Officer, and Anuj Gosalia, Chief Software and Cloud Officer both left... A string of executives have lately exited Magic Leap, Reality Check has learned, including some...

Illustration by Danielle Davis.

A Startup Founder Moved to Las Vegas for the Weather, Then Developed Political Ambitions

By Annie Goldsmith · Dec 23, 2021 9:00am PST · 1 comment

In this week’s “Decamped,” we chat with Madison Campbell, co-founder and CEO of Leda Health, a startup that gives sexual assault survivors free self-administered examination kits. Campbell recently resettled in Summerlin, Nev., a suburb of Las Vegas, and is in the process of moving her company from its New York headquarters. Why Vegas: One, I... In this week’s “Decamped,” we chat with Madison Campbell, co-founder and CEO of Leda Health, a...

Animation by Mike Sullivan. All photographs courtesy Danielle Baskin.

How Silicon Valley’s Most Prolific Prankster Mirrors the Industry She Parodies

By Margaux MacColl · Dec 23, 2021 9:00am PST · 6 comments

As the BART doors slid open, Danielle Baskin thought to herself, “Ohhh, shit.” The train car was packed with art connoisseurs wearing sparkly dresses, blue tuxedos and at least one chicken mask. It was appropriate for the dress code: “eclectic formal attire.” That same day, at the 2021 Art Basel in Miami, Silicon Valley hotshots sipped champagne... As the BART doors slid open, Danielle Baskin thought to herself, “Ohhh, shit.” The train car was...

Downtown San Francisco. Photo by Shutterstock

Why Remote Work Doesn’t Mean the End of Office Space

By Sarah Krouse · Dec 23, 2021 3:00am PST · 1 comment

Block, the financial services-focused tech company known until recently as Square, was one of the first high-profile tech businesses to allow permanent remote work when founder and CEO Jack Dorsey announced the policy in early 2020. And yet more than a year later, the majority of employees said they wanted to work from an office at least... Block, the financial services-focused tech company known until recently as Square, was one...

TikTok's app on a smartphone. Photo by Bloomberg.

Why 2022 Will Be TikTok’s Year

By Martin Peers · Dec 22, 2021 5:00pm PST · 1 comment

TikTok's app on a smartphone. Photo by Bloomberg.

Why 2022 Will Be TikTok’s Year

By Martin Peers · Dec 22, 2021 5:00pm PST · 1 comment

Data out earlier this week from Cloudflare revealed that TikTok is now the most popular online destination globally, ahead of Google for the first time. That’s an enormous deal for tech. And it suggests that the focus of antitrust regulators on big tech, which has consumed so much attention this year, is misplaced. Big tech is already losing... Data out earlier this week from Cloudflare revealed that TikTok is now the most popular online...

Block CEO Jack Dorsey and Andreessen Horowitz co-founder and general partner Marc Andreessen. Photos by Bloomberg. Art by Mike Sullivan.

Dorsey/Andreessen Clash Puts Crypto at Crossroads

By Hannah Miller · Dec 22, 2021 4:03pm PST · 1 comment

The crypto Twitter debates continued to rage on Wednesday after Marc Andreessen, co-founder and general partner at Andreessen Horowitz, blocked Jack Dorsey. “I’m officially banned from Web3,” Dorsey said in a tweet that showed a screenshot of Andreessen’s block. Andreessen’s public rejection followed Dorsey’s sparring on Monday with Chris Dixon,... The crypto Twitter debates continued to rage on Wednesday after Marc Andreessen, co-founder and...

Chart: Mike Sullivan

Creator Economy

The Year in Charts; Top 10 Creator Economy Moments

By Kaya Yurieff · Dec 22, 2021 2:00pm PST

It’s hard to keep up with the frenzy of creator economy announcements, let alone compare similar offerings from different platforms. That’s why we’ve leaned into making charts to break down these features in a digestible format. The three charts that generated the most chatter on social media this year compared tipping take rates, creator funds... It’s hard to keep up with the frenzy of creator economy announcements, let alone compare similar...

Kevin Martin, U.S. public policy chief for Meta, at an event in Washington, D.C., in 2018. Photo by Bloomberg

Meta Brings Back Republican to Top Lobbying Job After Search for a Democrat Fizzles

By Sylvia Varnham O'Regan · Dec 22, 2021 11:35am PST · 1 comment

Meta Platforms is throwing in the towel on a plan to hire a top Democrat to lead its lobbying team after searching in vain for almost a year for a candidate from the party. Instead, Meta—the parent company of Facebook—has announced internally that Kevin Martin, the Republican who previously held the company’s top lobbying role,... Meta Platforms is throwing in the towel on a plan to hire a top Democrat to lead its lobbying...

Elon Musk. Photo: Bloomberg

Elon Musk’s Metaverse Skepticism; Niantic’s Key AR Metric

By Mathew Olson · Dec 22, 2021 11:00am PST

Elon Musk. Photo: Bloomberg

Elon Musk’s Metaverse Skepticism; Niantic’s Key AR Metric

By Mathew Olson · Dec 22, 2021 11:00am PST

Back in March, when Meta Platforms was still Facebook, Mark Zuckerberg said he didn’t think anyone would “want to get their head drilled open” to use AR or VR. The comment served to distance his vision for neural input from that of Elon Musk who (in typical fashion) has made bold and questionable claims about the potential of brain implants.Now,... Back in March, when Meta Platforms was still Facebook, Mark Zuckerberg said he didn’t think...

BuzzFeed’s Biggest Winners and Losers

By Martin Peers · Dec 22, 2021 9:20am PST · 1 comment

You might think, based on BuzzFeed’s 40% stock drop since its Dec. 6 public listing, that the stock has been a disappointment to its shareholders. But for most of the digital media firm’s early venture investors, BuzzFeed has turned out to be a winning investment, generating returns of as much as 600%. Only one of its venture... You might think, based on BuzzFeed’s 40% stock drop since its Dec. 6 public listing, that...

Amazon Fresh opened its first store in the D.C. area last May. Photo by AP

Amazon Changes Could Signal a New Era for Grocery Business

By Paris Martineau and Mark Di Stefano · Dec 22, 2021 6:00am PST

Changes are afoot for Amazon’s yearslong experiment with physical stores. Over the past six months, Amazon’s grocery and physical stores team has experienced a steady stream of senior-level departures, including two vice presidents, two directors and two department heads, among others, The Information has learned. John Mackey, the... Changes are afoot for Amazon’s yearslong experiment with physical stores. Over the past six...

Mnemonic co-founders Andrii Yasinetsky, Elena Ikonomovska and Ben Metcalfe. Photos by Mnemonic.

Mnemonic Sifts Through NFT Data for Insights; Dorsey Clashes With A16z

By Hannah Miller · Dec 21, 2021 5:10pm PST · 1 comment

One of the biggest stories in crypto this year is the rise of digital blockchain-based assets known as non-fungible tokens. Here’s a look at how NFT data startup Mnemonic hopes to capitalize on demand.Founders: Andrii Yasinetsky, Elena Ikonomovska, Ben Metcalfe and Denys NevozhaiMoney Raised: $4 millionInvestors: Kenetic Capital, Monochrome... One of the biggest stories in crypto this year is the rise of digital blockchain-based assets...

Former AT&T CEO Randall Stephenson. Photo by Bloomberg.

AT&T’s Xandr Sale Closes Book on Media Adventures

By Martin Peers · Dec 21, 2021 5:00pm PST

Former AT&T CEO Randall Stephenson. Photo by Bloomberg.

AT&T’s Xandr Sale Closes Book on Media Adventures

By Martin Peers · Dec 21, 2021 5:00pm PST

AT&T quietly closed the book on its six-year foray into media and entertainment by selling its advertising technology business, Xandr, to Microsoft. The telecom giant would doubtless like us all to forget its adventures in entertainment, which involved the purchase of DirecTV, Time Warner and AppNexus—the ad tech business that formed the... AT&T quietly closed the book on its six-year foray into media and entertainment by selling...

Rosebud AI CEO Lisha Li. Photo: Courtesy of Lisha Li.

Creator Economy

Animation Startup Rosebud AI Pivots to Blockchain; OnlyFans’ Founder Steps Down

By Mahira Dayal · Dec 21, 2021 4:02pm PST

Talk that the decentralized technology of Web3 will soon supplant the established internet puts young startups in a quandary: they can stick to their existing technology and business models or make a costly and risky overhaul onto the blockchain.Some, like Rosebud AI, are making the leap. The three-year-old startup began by operating a... Talk that the decentralized technology of Web3 will soon supplant the established internet puts...

Bolt CEO Ryan Breslow. Photo by Bolt

Bolt Seeks Valuation Lift to $14 Billion Weeks After Raising Last Round

By Malique Morris and Kate Clark · Dec 21, 2021 2:15pm PST

With the ink barely dry on one fundraising effort by Bolt, a firm that makes e-commerce checkout software, the startup is already pitching investors on a new round. Shortly after raising nearly $400 million at an $11 billion valuation in a Series E funding round, according to three people familiar with the matter, Bolt is seeking another nearly... With the ink barely dry on one fundraising effort by Bolt, a firm that makes e-commerce checkout...

Josh Machiz of Redpoint Ventures. Photo: Guerin Blask. Illustration: Mike Sullivan

Redpoint Ventures is Launching a Media Operation—And Embracing TikTok

By Kate Clark · Dec 21, 2021 1:43pm PST · 12 comments

Venture capitalists do a lot of things to show entrepreneurs they aren’t just a bunch of squares, from wearing hoodies to bragging about their NFT purchases. Now Redpoint Ventures—the San Francisco venture firm known for its stakes in Stripe and Snowflake—has a new plan to connect with startup founders: hiring a creator to... Venture capitalists do a lot of things to show entrepreneurs they aren’t just a bunch of...

A person wearing a Quest 2 headset. Photo: Meta

Meta’s New Optics Advantage; Untangling a Messy Quest Sales Story

By Mathew Olson · Dec 21, 2021 12:23pm PST

A person wearing a Quest 2 headset. Photo: Meta

Meta’s New Optics Advantage; Untangling a Messy Quest Sales Story

By Mathew Olson · Dec 21, 2021 12:23pm PST

It’s time to add another company to the list of Meta’s acquisitions in the AR/VR industry. Meta has acquired ImagineOptix, a small North Carolina-based team specializing in liquid crystal lenses, Meta confirms. This may prove to be a coup for the company’s hardware division, although it’s not clear whether Meta will have the regulatory leeway to... It’s time to add another company to the list of Meta’s acquisitions in the AR/VR industry. Meta...