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

Norby co-founders, Steven Layne (left), Sam Safer Valentine and Nick Gerard (right). Photo: Norby

Creator Economy

Norby, a CRM for Creators, Raises More Seed Funding; Celebrity Avatar Startup Genies Valued at $1 Billion

By Kaya Yurieff · Apr 12, 2022 2:19pm PDT

When the founders of creator economy startup Norby set out to raise venture capital last summer, they were met with some skepticism after they told potential investors they didn’t plan to offer services to expand the ways creators make money, such as tipping and subscriptions. “We got a lot of raised eyebrows from VCs for saying that,” Nick... When the founders of creator economy startup Norby set out to raise venture capital last summer,...

TikTok CEO and ByteDance CFO Shouzi Chew. Photo: Bloomberg.

TikTok’s AR Tools Go Wide; Meta’s Steep Horizon Creator Fees

By Mathew Olson · Apr 12, 2022 11:00am PDT

If you’re a TikTok user (and if the platform’s recommendation algorithm deems it so), get ready to see a lot more videos spruced up with AR effects. Today, the ByteDance-owned social video platform has opened up its new AR development app Effect House for all users.First teased in a closed beta last August, Effect House is TikTok’s answer to... If you’re a TikTok user (and if the platform’s recommendation algorithm deems it so), get ready...

Photo by AP.

Amazon Targets High Schoolers in a Warehouse Recruiting Blitz

By Mark Di Stefano · Apr 12, 2022 10:49am PDT

Amazon is launching a big recruiting push aimed at teens who are about to graduate high school, in the e-commerce giant’s latest effort to keep its sprawling network of warehouses staffed up in a tight labor market. In a hiring drive set to kick off next month, Amazon will attend events at schools across the U.S. and Canada, a person... Amazon is launching a big recruiting push aimed at teens who are about to graduate high school,...

Under Chair Lina Khan, the Federal Trade Commission has taken a more skeptical view of mergers.

An Agitator Disrupts an Antitrust Garden Party

By Josh Sisco · Apr 12, 2022 7:00am PDT · 1 comment

Under Chair Lina Khan, the Federal Trade Commission has taken a more skeptical view of mergers.

An Agitator Disrupts an Antitrust Garden Party

By Josh Sisco · Apr 12, 2022 7:00am PDT · 1 comment

The American Bar Association’s annual antitrust conference is typically a pretty staid affair where lawyers share gossip, drinks and tips on how to better defend their clients. Then, last Thursday, Barry Lynn disrupted the peace. Lynn, executive director of antimonopoly group Open Markets Institute, rattled off a list of social ills,... The American Bar Association’s annual antitrust conference is typically a pretty staid...

The People With Power in Disney’s Streaming Division

By Jessica Toonkel · Apr 12, 2022 6:00am PDT · 1 comment

In January, as the streaming world focused on a slowdown at Netflix and the pending takeover of HBO Max’s parent by Discovery, Disney was busy reshuffling the team driving its all-important expansion in streaming. In the reorganization, the company put all of its services—including Hulu and its international Star service, as well as... In January, as the streaming world focused on a slowdown at Netflix and the pending takeover of...

Uniswap Labs COO Mary-Catherine Lader. (Photo courtesy of Uniswap Labs, Artwork by Haejin Park.)

How Uniswap Labs Plans to Become a Bigger VC Investor

By Akash Pasricha · Apr 11, 2022 6:53pm PDT

Compared to the fiery end to 2021, this year is off to a much slower pace for venture investment. My colleague Mahira Dayal covered that trend in a list of 12 charts we published today. But there’s reason to believe the story might be different for crypto startups.One data point to that effect: yet another crypto company is launching a venture... Compared to the fiery end to 2021, this year is off to a much slower pace for venture investment....

Elon Musk. Photo by Bloomberg.

What’s Next in Musk’s Next Twitter Drama

By Martin Peers · Apr 11, 2022 5:00pm PDT

So we’re back to square one on Elon Musk and Twitter. Today Musk filed the securities disclosure form that he should have filed last Monday (better late than never) about his 9.1% stake in Twitter. This time, the form had the right number of Twitter shares he holds (glad he sorted that out!). And it outlined, in legal boilerplate, what seemed... So we’re back to square one on Elon Musk and Twitter. Today Musk filed the securities disclosure...

Garry Tan, managing partner of Initialized Capital. Photo: Oliver Covrett

The YouTube Advice MrBeast Gave Initialized’s Garry Tan; TikTok Eyes Podcasting

By Kaya Yurieff · Apr 11, 2022 2:44pm PDT

Garry Tan, managing partner of Initialized Capital. Photo: Oliver Covrett

Creator Economy

The YouTube Advice MrBeast Gave Initialized’s Garry Tan; TikTok Eyes Podcasting

By Kaya Yurieff · Apr 11, 2022 2:44pm PDT

Garry Tan, the co-founder and managing partner of early-stage venture firm Initialized Capital, was chatting on live audio app Clubhouse early last year when YouTuber Jimmy Donaldson offered a critique of Tan’s YouTube channel. Donaldson, who goes by MrBeast, said Tan’s “thumbnails and titles were garbage” and “they effing sucked,” Tan... Garry Tan, the co-founder and managing partner of early-stage venture firm Initialized Capital,...

Minifigure faces, likely to be a fixture of Epic and Lego's joint metaverse venture. Photo: Bloomberg.

A $2 Billion Round for Epic; Can Meta Catch Up to Apple on Chips?

By Mathew Olson · Apr 11, 2022 11:00am PDT

Sony and Lego’s controlling shareholder are putting a total of $2 billion into Epic Games, the biggest single investment in the gamemaker yet, Epic announced today. The investment suggests that Epic’s metaverse partnership with The Lego Group announced on Thursday might be more ambitious than just a simple, more kid-friendly offshoot of... Sony and Lego’s controlling shareholder are putting a total of $2 billion into Epic Games, the...

Images by Bloomberg and Shutterstock. Art by Mike Sullivan

12 Charts That Show How Life Has Returned to Normal—or Not

By Mahira Dayal · Apr 11, 2022 6:00am PDT · 2 comments

As people ease off their couches and back to office desks after a two-year hiatus, there’s a lot to get used to. The internet has become even more essential, for commerce, communication and entertainment. Social media platforms such as TikTok and OnlyFans saw jumps in viewership. Remote workers left city apartments to rent houses in scenic... As people ease off their couches and back to office desks after a two-year hiatus, there’s...

A fast-charger in Mesa, Ariz. Photo: Alexandra Buxbaum/Sipa/AP

Meet the Cottage Industry Trying to Make EV Charging Faster

By Steve LeVine · Apr 10, 2022 2:00pm PDT

Welcome back to The Electric! For well over a century, people around the world have fueled their automobiles with ease, filling up at will at any nearby gasoline station. This history lies behind the drive to develop fast-charge technology for electric vehicles, and duplicate the gas station experience. This week, we look at the surprisingly... Welcome back to The Electric! For well over a century, people around the world have fueled their...

Tech Workers Return to the Office, With New Norms and New Expectations

Tech Workers Return to the Office, With New Norms and New Expectations

By Jon Steinberg · Apr 9, 2022 8:00am PDT

Tech Workers Return to the Office, With New Norms and New Expectations

Tech Workers Return to the Office, With New Norms and New Expectations

By Jon Steinberg · Apr 9, 2022 8:00am PDT

Hi, welcome to your Weekend! Our company returned to three days of in-person work this week, and we clearly weren’t alone. Downtown San Francisco, where The Information’s headquarters are located, was noticeably less of a ghost town, with salad joints, coffee bars and bike lanes all back to bustling (the hot spring weather may have... Hi, welcome to your Weekend! Our company returned to three days of in-person work this week,...

Elon Musk. Photo by Bloomberg.

Twitter Should Make Musk CEO

By Martin Peers · Apr 8, 2022 5:00pm PDT · 1 comment

Question: When will Elon Musk get himself appointed CEO of Twitter? It has been only a few days since he joined the board, after buying 9% of the company, but already Twitter has arranged for him to talk to employees in a question-and-answer session, as The Washington Post reported. That’s an extraordinary move for Twitter to make. It’s hard to... Question: When will Elon Musk get himself appointed CEO of Twitter? It has been only a few days...

Art by Clark Miller

‘Buckle Up, the Next Four Weeks Are Going to Suck’: Silicon Valley’s Return-to-Office Survival Guide

By Annie Goldsmith · Apr 8, 2022 2:00pm PDT · 1 comment

“Whenever I have friends who are going back to the office, I’m like, OK, buckle up,” says Abigail Tisch, an investor at RRE Ventures in New York. “The next four weeks are going to suck and then you’ll be glad.” Returning to the office after more than two years away will pose new challenges, from the practical (“What do I do with my quarantine... “Whenever I have friends who are going back to the office, I’m like, OK, buckle up,” says Abigail...

Art by Mike Sullivan.

No Timeouts, No Yelling: The Gentle Nonsense of a TikTok Parenting Meme

By Emily Dreyfuss · Apr 8, 2022 12:00pm PDT

Pop quiz: Are you a gentle parent? Last year, before I had ever heard this phrase, I would have answered yes, because it sounds like the kind of parent I at least try to be to my two kids. But then, starting in August 2021, TikTok’s algorithm began to bombard my For You Page with videos hashtagged #gentleparenting. According to Google trends,... Pop quiz: Are you a gentle parent? Last year, before I had ever heard this phrase, I would have...

Art by Clark Miller.

The Cult of Company Culture Is Back. But Do Tech Workers Even Want Perks Anymore?

By Flora Tsapovsky · Apr 8, 2022 12:00pm PDT

Art by Clark Miller.

The Cult of Company Culture Is Back. But Do Tech Workers Even Want Perks Anymore?

By Flora Tsapovsky · Apr 8, 2022 12:00pm PDT

Just a couple of years ago, Jesse Ditson, then a software engineering architect at Quip, a subsidiary of Salesforce, was living in San Francisco. Every day he came into the office, where he’d enjoy spontaneous interactions with his colleagues and, sometimes, their adorable pets. He used to attend holiday parties at Foreign Cinema and participate... Just a couple of years ago, Jesse Ditson, then a software engineering architect at Quip, a...

Art by Mike Sullivan

‘The Dropout’ Is a Knockout

By Jillian Goodman · Apr 8, 2022 11:00am PDT · 1 comment

Of the three prestige TV shows based on real-life tech-world scandals lately gracing streaming services, including Showtime’s “Super Pumped” and Apple TV’s “WeCrashed,” Hulu’s “The Dropout,” which aired its season finale on Thursday, is far and away the best. And the competition isn’t even close. It’s not just the acting that sets “The Dropout”... Of the three prestige TV shows based on real-life tech-world scandals lately gracing streaming...

A store sign promoting Meta's Ray Bans smart glasses in New York. Photo by AP

Meta Platforms is Struggling to Develop Its Own Device Chips

By Sylvia Varnham O'Regan and Stephen Nellis · Apr 8, 2022 9:15am PDT · 1 comment

In late 2021, a team of Meta Platforms employees building a key chip for the second version of Meta’s Ray-Ban smart glasses was notified that the company had decided to go with an alternative chip from Qualcomm, according to two people familiar with the matter. The custom chip would power a variety of functions, such as taking high-quality... In late 2021, a team of Meta Platforms employees building a key chip for the second version of...

Tech Talent Flocks to Young Startups as Late-Stage Valuations Tank

By Mark Matousek · Apr 8, 2022 6:00am PDT · 4 comments

The recent pressure in startup valuations and a clogged pipeline of initial public offerings has upended the recruiting landscape. Big stock packages from firms backed by billions of dollars in capital now look less likely to result in lucrative payoffs. That’s led early-stage startups to swoop in, poaching tech workers with equity that... The recent pressure in startup valuations and a clogged pipeline of initial public offerings has...

Elementus CEO Max Galka. Photo: Joseph Spiteri Photography. Art by Mike Sullivan

Elementus Wants to be the Google of Blockchain; Bolt Gets Serious About Crypto

By Aidan Ryan · Apr 7, 2022 6:16pm PDT

Elementus CEO Max Galka. Photo: Joseph Spiteri Photography. Art by Mike Sullivan

Elementus Wants to be the Google of Blockchain; Bolt Gets Serious About Crypto

By Aidan Ryan · Apr 7, 2022 6:16pm PDT

Just like Google helps users navigate the internet, and Yellow Pages’ directories help people find businesses, Elementus CEO Max Galka thinks his startup can be the universal search engine for blockchains.“Google, in some sense, is like the Yellow Pages for the web, right?” Galka told me Thursday morning at his startup’s offices near Manhattan’s... Just like Google helps users navigate the internet, and Yellow Pages’ directories help people...