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

Elon Musk, at a rave he threw Saturday at the Berlin Gigafactory. Photo: Patrick Pleul/picture-alliance/dpa/AP

Why GM, Ford and VW Should Spin Off Their EV and Battery Units

By Steve LeVine · Oct 10, 2021 2:05pm PDT

Welcome back to The Electric.A reminder to RSVP and invite a guest or two of your choice for the next Live Chat—Winning the EV Wars: The Establishment vs. The Upstarts. In the first subscriber-only event, I'm delighted to present a conversation with Ford Motor's Darren Palmer. Palmer is general manager of Ford's electric vehicle program and a... Welcome back to The Electric.A reminder to RSVP and invite a guest or two of your choice for the...

Frances Haugen. Photo by Bloomberg.

Whistleblowers’ Moment in Tech

By Nick Wingfield · Oct 8, 2021 5:00pm PDT · 2 comments

It would be an understatement to say whistleblowing in the tech industry had a moment this week. First, Frances Haugen, now forever known as the Facebook Whistleblower, caused a media and political frenzy with her testimony in Washington, D.C., on Tuesday. Also this week, a project headed by Ifeoma Ozoma, a former Pinterest staffer who went... It would be an understatement to say whistleblowing in the tech industry had a moment this week....

FTC Chair Lina Khan. Photo by Bloomberg.

FTC Weighs Early Retirement Offers for Veteran Staffers As Khan Reshapes Agency

By Josh Sisco · Oct 8, 2021 10:26am PDT

The Federal Trade Commission is preparing to make early retirement offers to some of its longtime employees, according to people with knowledge of the discussions, giving FTC Chair Lina Khan the opportunity to fill the ranks with people aligned with the dramatic shift she is overseeing at the 107-year-old agency. Early retirement offers at... The Federal Trade Commission is preparing to make early retirement offers to some of its longtime...

Illustration by Danielle Davis

Instagram Isn’t the Only Social Media That’s Hurting Girls

By Nancy Jo Sales · Oct 8, 2021 9:00am PDT · 4 comments

Illustration by Danielle Davis

Instagram Isn’t the Only Social Media That’s Hurting Girls

By Nancy Jo Sales · Oct 8, 2021 9:00am PDT · 4 comments

“This research is the definition of a bombshell,” said Sen. Richard Blumenthal at the Congressional hearing Tuesday, during which Frances Haugen, the Facebook whistleblower, testified about the tech company’s suppression of internal studies showing the harmful effects of its products on the mental health of kids, especially... “This research is the definition of a bombshell,” said Sen. Richard Blumenthal at the...

Art by Mike Sullivan

Google Search Wants to Curate Big News. It Could Be a Minefield

By Sarah Krouse · Oct 8, 2021 6:00am PDT · 2 comments

Google is trying to learn a tough job that news editors around the world do everyday: curating information about breaking news. A small team inside Google’s search organization has spent more than a year developing a search engine feature called Big Moments that takes a more active role in determining what information to show in search... Google is trying to learn a tough job that news editors around the world do everyday: curating...

A trader on the floor of the New York Stock Exchange last month. Photo by Bloomberg.

An Aborted IPO Reflects Market Jitters About Covid Winners

By Martin Peers · Oct 7, 2021 5:00pm PDT

After a spate of IPO filings earlier this week, including from companies Rent the Runway, Udemy and GlobalFoundries, you might have thought the roller-coaster ups and downs of the market weren’t deterring anyone from going public. Wrong! Today iFit Health & Fitness, a competitor to Peloton, decided to postpone its IPO due to “adverse market... After a spate of IPO filings earlier this week, including from companies Rent the Runway, Udemy...

BITKRAFT Ventures Founding General Partner Jens Hilgers. Photo by BITKRAFT Ventures.

BITKRAFT’s $75 Million Blockchain Bet; Tether’s New Trouble

By Hannah Miller · Oct 7, 2021 4:56pm PDT

BITKRAFT Ventures is launching a $75 million token fund for investing in startups involved in both crypto and gaming, The Information is first to report. The fund adds to the mounting pile of cash venture capitalists are aiming at blockchain-based games. This new fund could help pave the way for what BITKRAFT founding general partner Jens... BITKRAFT Ventures is launching a $75 million token fund for investing in startups involved in...

Excerpts From Day Two of The Information’s WTF 2021 Conference

By The Information Staff · Oct 7, 2021 3:51pm PDT

WTF: Women in Tech, Media and Finance

Excerpts From Day Two of The Information’s WTF 2021 Conference

By The Information Staff · Oct 7, 2021 3:51pm PDT

At The Information’s WTF conference today, speakers included Robinhood COO Gretchen Howard, Snap’s Chief Business Officer Jeremi Gorman and Clubhouse marketing head Maya Watson. We also heard from a media panel of Janice Min, Contributing Editor, Time and the former co-president, Hollywood Reporter-Billboard Entertainment Group as... At The Information’s WTF conference today, speakers included Robinhood COO Gretchen Howard,...

Creator Economy

Ten Startups Focused on Creators and NFTs

By Mahira Dayal · Oct 7, 2021 3:30pm PDT

Our latest chart shows that venture capitalists are enthused about investing in companies that are straddling two in-the-moment sectors: creators and non-fungible tokens (NFTs), the unique digital assets based on the blockchain. Our analysis of The Information’s Creator Economy database shows that venture firms have invested $250 million in... Our latest chart shows that venture capitalists are enthused about investing in companies that...

Andreessen Horowitz General Partner Katie Haun

WTF: Women in Tech, Media and Finance

Andreessen Horowitz’s Haun: Competition for Crypto Equity Deals ‘Has Intensified’

By Kate Clark · Oct 7, 2021 2:07pm PDT · 2 comments

Venture firm Andreessen Horowitz’s new $2.2 billion cryptocurrency fund has given the venture firm the ammo to pursue more and bigger deals. But it’s got far more competition for crypto equity deals than it did a year ago. “There’s a lot of investor excitement in crypto and a lot of investors who haven’t been... Venture firm Andreessen Horowitz’s new $2.2 billion cryptocurrency fund has given the...

WTF: Women in Tech, Media and Finance

Salesforce CFO Weaver Says Women Are ‘Primed’ for CEO Appointments

By Laura Mandaro · Oct 7, 2021 1:30pm PDT · 1 comment

Salesforce’s chief financial officer, Amy Weaver, recalls reading reports from analysts published after the software giant last year named Weaver, then its most senior lawyer, to succeed its longtime CFO. “A couple of [them] very nicely said, ‘Untraditional or unconventional.’ One finally said, ‘Inspired,’ and... Salesforce’s chief financial officer, Amy Weaver, recalls reading reports from analysts...

Universal Chief Langley Says Shorter Theatrical Releases Are the New Norm

By Sahil Patel · Oct 7, 2021 12:11pm PDT

WTF: Women in Tech, Media and Finance

Universal Chief Langley Says Shorter Theatrical Releases Are the New Norm

By Sahil Patel · Oct 7, 2021 12:11pm PDT

Not every director is Christopher Nolan—the auteur behind blockbuster films including “The Dark Knight” and “Inception.” That means not every filmmaker should expect to receive a 100-day-plus theatrical release for their films, especially as the escalating streaming wars and the pandemic combine to dramatically... Not every director is Christopher Nolan—the auteur behind blockbuster films including...

Promotional artwork for Horizon Worlds. Credit: Facebook

Will $10 Million and a Rebranding Help Jumpstart Facebook Horizon?

By Mathew Olson · Oct 7, 2021 10:00am PDT

Today, Facebook is announcing that its VR project formerly known as Horizon, a social app where people can create games and experiences to share in together, is being renamed Horizon Worlds. It will remain separate from Horizon Workrooms, a productivity focused sister app. Facebook is also announcing a new $10 million fund for Horizon Worlds... Today, Facebook is announcing that its VR project formerly known as Horizon, a social app where...

Salesforce's Bret Taylor (left) and Marc Benioff. Photos by Bloomberg. Art by Mike Sullivan

At Salesforce, a CEO Shift from Benioff to Taylor Draws Near

By Kevin McLaughlin · Oct 7, 2021 6:01am PDT · 1 comment

What will Salesforce look like when its co-founder and CEO, Marc Benioff, finally passes the baton to someone else? The tech industry may get to find out sooner rather than later. In recent months, the company’s No. 2 executive, Bret Taylor, has confided to people close to him that he expects to be promoted to CEO of Salesforce soon,... What will Salesforce look like when its co-founder and CEO, Marc Benioff, finally passes the...

Coinbase CEO Brian Armstrong. Photo by Bloomberg.

Why Coinbase CEO’s Worries About Attacks on Founders Are Misplaced

By Martin Peers · Oct 6, 2021 5:00pm PDT · 1 comment

Coinbase CEO Brian Armstrong is worried that attacks from the press and politicians will drive successful CEOs to “leave from burnout.” Given the timing, this tweet seemed to be a response to the pounding that Facebook CEO Mark Zuckerberg has taken lately, although Armstrong mentioned “Gates, Page, Bezos” as though they were examples. This has... Coinbase CEO Brian Armstrong is worried that attacks from the press and politicians will drive...

An illustration of the Shibu Inu digital currency. Image: AP

Elon Musk’s Pup Pump; The New Crypto Billionaires

By Hannah Miller · Oct 6, 2021 4:35pm PDT

An illustration of the Shibu Inu digital currency. Image: AP

Elon Musk’s Pup Pump; The New Crypto Billionaires

By Hannah Miller · Oct 6, 2021 4:35pm PDT

Elon Musk has still got it when it comes to influencing cryptocurrency markets. Four days after the Tesla CEO sent a tweet that nodded to the digital currency SHIBA INU (SHIB), the coin is still rallying. It’s currently up 47% in the past 24 hours and 232% since Sunday. Admittedly, it doesn’t take much to create big swings in the currency—it’s... Elon Musk has still got it when it comes to influencing cryptocurrency markets. Four days after...

WTF: Women in Tech, Media and Finance

Excerpts From Day One of The Information’s WTF 2021 Conference

By The Information Staff · Oct 6, 2021 3:38pm PDT

At The Information’s WTF conference today, speakers included Dawn Ostroff, chief content officer and advertising business officer of Spotify, MSNBC president Rashida Jones, Barstool Sports CEO Erika Nardini and progressive philanthropist Kathryn Murdoch. We also heard from a panel of venture capitalists—Rachel Holt, co-founder of... At The Information’s WTF conference today, speakers included Dawn Ostroff, chief content...

Photo: Wardrobe

Creator Economy

A Startup for Wardrobe Rental Sales Nabs Funding; Twitch Hack Exposes Streamers Earning Millions

By Kaya Yurieff · Oct 6, 2021 2:50pm PDT

It’s become popular practice for social media influencers to sell clothes they no longer want on second-hand marketplaces like Depop and Poshmark. Such items can sell out quickly as fans rush to buy something from their favorite online personality. Wardrobe, a three-year-old New York startup, takes that idea and pairs it with renting out... It’s become popular practice for social media influencers to sell clothes they no longer want on...

WTF: Women in Tech, Media and Finance

Kathryn Murdoch Says Big Companies Shouldn’t Be Controlled By One Person

By Mahira Dayal · Oct 6, 2021 2:25pm PDT · 2 comments

Philanthropist Kathryn Murdoch said no individual should control a big company like Facebook, saying “it is troubling when you have one person who wields that kind of power and it’s probably not the right way forward.” The comments by Murdoch, at The Information’s Women in Tech, Media and Finance conference on Wednesday,... Philanthropist Kathryn Murdoch said no individual should control a big company like Facebook,...

How Snapchat's new contests with cash prizes will appear in-app. Credit: Snap

Snap’s New AR Incentives; Canon Courts VR Filmmakers

By Mathew Olson · Oct 6, 2021 11:00am PDT

How Snapchat's new contests with cash prizes will appear in-app. Credit: Snap

Snap’s New AR Incentives; Canon Courts VR Filmmakers

By Mathew Olson · Oct 6, 2021 11:00am PDT

Snap is launching a new series of contests with cash prizes to entice creators large and small. On its face, it’s likely a smart move to stay attractive next to other video-focused social media platforms like TikTok and Instagram.I’m sure Kaya will have more to say about it and other changes for Snapchat’s biggest stars in today’s Creator... Snap is launching a new series of contests with cash prizes to entice creators large and small....