The Briefing by Martin Peers, Jessica E. Lessin and the team at The Information

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The Briefing

By Martin Peers, Jessica E. 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

Dan Wright, who has just resigned as DataRobot CEO. Art by Mike Sullivan

DataRobot CEO Resigns Following Stock Sale Revelation

By Kevin McLaughlin · Jul 20, 2022 10:43am PDT · 7 comments

Dan Wright, CEO of artificial-intelligence software pioneer DataRobot, has resigned less than a year and a half after ascending to the position, according to a departure memo viewed by The Information. Wright is leaving amid tepid revenue growth and following employee uproar over the revelation, first reported by The Information, that he and... Dan Wright, CEO of artificial-intelligence software pioneer DataRobot, has resigned less than a...

Photo by Bloomberg.

Google Announces Hiring Pause

By Erin Woo · Jul 20, 2022 9:48am PDT · 1 comment

Google said it will pause hiring for two weeks, after saying last week it would slow its pace of hiring for the rest of the year. In an email to employees viewed by The Information, Prabhakar Raghavan, a senior vice president at Google, said the hiring pause would not impact offers that had already been extended to applicants, but that Google... Google said it will pause hiring for two weeks, after saying last week it would slow its pace of...

Art by Josh Brill

Climate Tech Investors Can’t Afford to Repeat Past Mistakes

By Amy Duffuor · Jul 20, 2022 9:00am PDT · 2 comments

The facts of climate change are stark. The global average temperature has risen around 2°F since 1900. Why do we care? Even small changes in the average temperature of the planet can cause dangerous shifts in climate and weather. The scientists of the Intergovernmental Panel on Climate Change warned in their 2022 report that without a... The facts of climate change are stark. The global average temperature has risen around 2°F...

ByteDance founder Zhang Yiming.

As China’s Tech IPO Window Cracks Open, Investors See New Hope for ByteDance

By Jessica E. Lessin, Juro Osawa and Shai Oster · Jul 20, 2022 6:00am PDT · 2 comments

ByteDance founder Zhang Yiming.

As China’s Tech IPO Window Cracks Open, Investors See New Hope for ByteDance

By Jessica E. Lessin, Juro Osawa and Shai Oster · Jul 20, 2022 6:00am PDT · 2 comments

Investors in ByteDance are getting more optimistic that one of the world’s most highly valued private companies can move toward an initial public offering, a development that comes after years of setbacks for TikTok’s parent company. Three investors say a number of recent signs suggest the Chinese government is opening a path to a... Investors in ByteDance are getting more optimistic that one of the world’s most highly...

A Netflix advertisement in New York earlier this year. Photo by Bloomberg

Hastings Said It Best: Netflix’s Quarter Was ‘Less Bad’

By Jessica E. Lessin · Jul 19, 2022 5:51pm PDT

Elon loses round one. On Tuesday, the billionaire was swiftly defeated in a tussle over the timing of a trial that will determine whether he should be forced to buy Twitter, with the judge greenlighting an October start date. That’s far sooner than Team Musk—which says it needs time to conduct discovery—wanted. Judge Kathaleen McCormick didn’t... Elon loses round one. On Tuesday, the billionaire was swiftly defeated in a tussle over the...

Meta Platforms CEO Mark Zuckerberg. Photo: AP

Creator Economy

Instagram Tests Map Features; Reddit Downvotes Subscriptions; Microsoft’s Social Network

By Mahira Dayal · Jul 19, 2022 3:44pm PDT · 1 comment

Loyal Creator Economy readers may recall a chart last year when we noted that all social networks are beginning to look the same. Today’s barrage of news shows that even companies like software maker Microsoft are adopting the most popular social features, like disappearing posts. And in yet another example of convergence, Instagram is taking a... Loyal Creator Economy readers may recall a chart last year when we noted that all social networks...

Clockwise from left to right, Michelle Zatlyn, Carolyn Everson, Emilie Choi, Greg Schwartz, Vanessa Pappas, Will Gaybrick, Jeetu Patel. Photos: Eóin Noonan/Collision via Sportsfile, Patrick T. Fallon, Anthony Kwan. Art by Clark Miller.

The Next CEOs: Executives Poised to Lead the Top Tech Companies

By The Information Staff · Jul 19, 2022 6:00am PDT · 2 comments

Call it the Great Rehiring. After a wave of resignations swept through the executive ranks of Meta Platforms, Amazon and other top tech companies, startups are starting to poach their current and former executives for the C-suite. We take a look at which executives are waiting in the wings to become the next CEO—of their current employer... Call it the Great Rehiring. After a wave of resignations swept through the executive ranks of...

TikTok creator Owen Holt. Photo: Nathan Tecson

Squarespace’s Creator Ambitions; TikTok Creator Owen Holt on Why He Loves Twitter

By Kaya Yurieff · Jul 18, 2022 2:40pm PDT

TikTok creator Owen Holt. Photo: Nathan Tecson

Creator Economy

Squarespace’s Creator Ambitions; TikTok Creator Owen Holt on Why He Loves Twitter

By Kaya Yurieff · Jul 18, 2022 2:40pm PDT

Squarespace, known for offering tools to customize and host sleek websites, has in recent years stepped up features appealing to internet performers, in addition to small businesses and individuals such as graphic designers. In late 2020, it rolled out a membership product that helps creators sell access to virtual courses, newsletters and... Squarespace, known for offering tools to customize and host sleek websites, has in recent years...

Art by Clark Miller.

In China, Apps Are Out—Infrastructure Is In

By Juro Osawa · Jul 18, 2022 9:27am PDT · 4 comments

Recently, in Shanghai’s gritty industrial district, venture capitalist Ian Goh put on a gas mask to observe robots pack exactly 40 kilograms of wheat flour into each bag. It was all part of his due diligence on a Chinese startup, Innotime, that makes packaging robots. In a hunt for new investment opportunities, Goh, who is a managing... Recently, in Shanghai’s gritty industrial district, venture capitalist Ian Goh put on a gas...

Former AWS CEO Andy Jassy, now Amazon's CEO, in 2019. Photo by Bloomberg

AWS Server Chip Becomes a Not-So-Secret Weapon Against Microsoft, Google

By Kevin McLaughlin · Jul 18, 2022 6:00am PDT · 11 comments

For the past decade, Amazon Web Services has maintained its edge over Microsoft and Google in selling cloud computing services by speeding up its technology and lowering prices. Over the next 10 years, a key advantage will be its Graviton microchips, which AWS developed in-house to power apps on the internet or to help customers train... For the past decade, Amazon Web Services has maintained its edge over Microsoft and Google in...

Much of Indonesia's nickel processing is conducted at Morowali Industrial Park on Sulawesi island. Photo: Dimas Ardian/Bloomberg

The Electric: Playing Unapologetic Hardball, Indonesia Creates a Global Battery Hub

By Steve LeVine · Jul 17, 2022 2:00pm PDT

Welcome back to The Electric! On Thursday: The auto and battery industries have been struck by a stark shortage of lithium and nickel, so how will they make enough lithium-ion batteries to meet anticipated demand for their electric vehicles? One option is a different kind of battery—such as a surprising one containing Prussian blue... Welcome back to The Electric! On Thursday: The auto and battery industries have been struck...

Where Did All the Vests Go?: Inside Venture Capital’s Summer Disappearance Act

Where Did All the Vests Go?: Inside Venture Capital’s Summer Disappearance Act

By Jon Steinberg · Jul 16, 2022 8:00am PDT

Where Did All the Vests Go?: Inside Venture Capital’s Summer Disappearance Act

Where Did All the Vests Go?: Inside Venture Capital’s Summer Disappearance Act

By Jon Steinberg · Jul 16, 2022 8:00am PDT

Hi, welcome to your Weekend! If you’re reading this from somewhere along the Mediterranean or the East End of Long Island, you’re apparently not alone. As my colleague Erin Woo reports in this week’s cover story, a sizable chunk of tech’s investing class has traded deal-chasing for chaise-lounging recently. While a summer slowdown is sort... Hi, welcome to your Weekend! If you’re reading this from somewhere along the Mediterranean...

Photo courtesy of Atoms. Art by Clark Miller

How an Invite and a Pivot Changed Everything for the Founders of Sneaker Brand Atoms

By Margaux MacColl · Jul 16, 2022 7:00am PDT · 3 comments

In 2015, when married founders Waqas Ali and Sidra Qasim arrived at Y Combinator, they weren’t yet fluent in English. The pair had traveled from Pakistan, where their handmade leather shoe business had become a viral sensation. But at Y Combinator’s famous Demo Day, they looked at all the rival entrepreneurs wearing fashionable sneakers, and... In 2015, when married founders Waqas Ali and Sidra Qasim arrived at Y Combinator, they weren’t...

Lulu Cheng Meservey. Art by Clark Miller.

‘The Truth Had Been Distorted Beyond Recognition’: Lulu Cheng Meservey on Joining the Activision Board and Defending Free Speech on Substack

By Adam Lashinsky · Jul 15, 2022 1:00pm PDT · 9 comments

Lulu Cheng Meservey isn’t your typical corporate flack. The Washington, D.C.-based head of communications for Substack, a digital newsletter platform, Meservey is brash and outspoken online—far more so than the company’s founders. Her pre-PR background included a short stint on Wall Street and working for one of former President Bill Clinton’s... Lulu Cheng Meservey isn’t your typical corporate flack. The Washington, D.C.-based head of...

Art by Clark Miller

‘If I Miss a Deal, It’s—Whatever’: Venture Investors Throw in the Beach Towel

By Erin Woo · Jul 15, 2022 12:00pm PDT · 8 comments

Jordan Levy joins the Zoom with black sunglasses on his head and a pool umbrella in the background. The 66-year-old Softbank Capital NY managing partner once founded an incubator focused on Buffalo, N.Y.’s startup ecosystem. This summer, though, he’s hanging out with his grandchildren in a different part of the Empire State: Sagaponack, a... Jordan Levy joins the Zoom with black sunglasses on his head and a pool umbrella in the...

Photo by AP.

What Comes After Big Tech’s Advertising Boom?

By Stephen Council · Jul 15, 2022 6:00am PDT · 2 comments

Photo by AP.

What Comes After Big Tech’s Advertising Boom?

By Stephen Council · Jul 15, 2022 6:00am PDT · 2 comments

Earnings season is fast approaching, and all eyes will be on how advertising businesses, under pressure from privacy changes and competition from fast-growing TikTok, are holding up amid a souring economic climate. A slowdown from last year’s blockbuster ad revenue growth is likely as companies tighten digital marketing budgets and the... Earnings season is fast approaching, and all eyes will be on how advertising businesses, under...

Netflix co-CEO Reed Hastings in 2019. Photo by Bloomberg

Why Netflix’s Microsoft Partnership May Not Be Enough

By Jessica E. Lessin · Jul 14, 2022 5:00pm PDT

Seems like another founder is reading The Information! Last week, we wrote about companies slashing their internal valuations to gain a recruiting edge. And now Stripe seems to have done just that. But don’t shed a tear for the payments company and its investors just yet: The valuation a company sets for employee compensation isn’t... Seems like another founder is reading The Information! Last week, we wrote about companies...

Ceartas CEO and founder Dan Purcell. Credit: Dan Purcell

Creator Economy

The Startup Scraping the Internet for Stolen Content; OpenSea Layoffs; LTK Inks Deal With Stripe

By Mahira Dayal · Jul 14, 2022 3:15pm PDT

Creators frequently find that other internet users have replicated their videos, photos and text without permission. Some people see this as an inconvenience, but the stakes are higher for creators who are harassed, threatened or demeaned when others misuse their photos or videos online.Ceartas, a startup that uses algorithms to search the... Creators frequently find that other internet users have replicated their videos, photos and text...

Art by Josh Brill.

VC Due Diligence Returns—With a Vengeance

By Kate Clark and Aaron Holmes · Jul 14, 2022 6:00am PDT · 1 comment

In June, the founders of Duplo, a Nigerian fintech company started last year, received some disappointing news. Insight Partners, a New York–based private equity and venture capital firm, in the spring had signed an offer to lead the company’s seed round, a step that would have cemented Duplo’s relationship with one of the... In June, the founders of Duplo, a Nigerian fintech company started last year, received some...

How China Outmaneuvered the West to Control the EV Battery Industry

How China Outmaneuvered the West to Control the EV Battery Industry

By Steve LeVine · Jul 14, 2022 4:00am PDT

How China Outmaneuvered the West to Control the EV Battery Industry

How China Outmaneuvered the West to Control the EV Battery Industry

By Steve LeVine · Jul 14, 2022 4:00am PDT

Next week: When we speak of batteries, we usually mean lithium-ion powered by nickel- or iron-led cathodes. But the yearslong metals shortage ahead of us means the industry must broaden its outlook beyond the usual metals. That's why I'm excited about the next Live Chat, in which I'll host Colin Wessells, CEO of Stanford spinoff Natron... Next week: When we speak of batteries, we usually mean lithium-ion powered by nickel- or...