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

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

Facebook CEO Mark Zuckerberg in Salt Lake City, Utah, on Jan. 31, 2020.

Creator Economy

Zuckerberg Teases Tools for Instagram Influencers; OnlyFans’ Pandemic Payday

By Kaya Yurieff · Apr 27, 2021 3:41pm PDT

Welcome back! I hope you enjoyed the first edition of the Creator Economy newsletter. Facebook CEO Mark Zuckerberg gave a glimpse into just how aggressively the company is trying to woo creators. In an Instagram Live on Tuesday with head of Instagram Adam Mosseri, Zuckerberg teased three new projects the company is working on:• Making Shops... Welcome back! I hope you enjoyed the first edition of the Creator Economy newsletter. ...

A pilot in a VRM Switzerland VR helicopter trainer. Image: VRM Switzerland

TI Reality Check: VR Pilot Training Takes Flight

By Mathew Olson · Apr 27, 2021 12:01pm PDT

Virtual reality is emerging as a viable option for training commercial pilots. On Monday, flight simulator maker VRM Switzerland announced that European Union regulators granted approval to one of the company’s VR helicopter training systems. The platform is the first to allow pilots to credit time on a VR simulator as part of their... Virtual reality is emerging as a viable option for training commercial pilots. On Monday, flight...

A screenshot of 'Bard of Blood' from Netflix.

How Netflix Fumbled India

By Jessica Toonkel and Mark Di Stefano · Apr 27, 2021 6:01am PDT · 8 comments

In 2019, Amazon and Netflix each released spy thrillers on their streaming services aimed at the India market—with dramatically different results. Amazon’s “Family Man,” which told the story of a middle-class man who secretly spies for India, nabbed rave reviews, became the most watched original series on the Indian... In 2019, Amazon and Netflix each released spy thrillers on their streaming services aimed at the...

Alphabet and Google chief Sundar Pichai. Photo by Bloomberg

The Briefing: Roku Goes Up Against Google

By Martin Peers · Apr 26, 2021 5:32pm PDT · 1 comment

Alphabet and Google chief Sundar Pichai. Photo by Bloomberg

The Briefing: Roku Goes Up Against Google

By Martin Peers · Apr 26, 2021 5:32pm PDT · 1 comment

If there ever was a time when small companies feared going public with their complaints about big tech, that time has passed. We saw that last week when Spotify and Tile complained to Congress about how Apple wields its power. And it was demonstrated again today when Roku sent a note to customers informing them that they might lose access to... If there ever was a time when small companies feared going public with their complaints about big...

Illustration by Mike Sullivan

Creator Economy

Creator Economy: Clubhouse’s First Tippers; a ‘Mighty’ Rival to Facebook

By Kaya Yurieff · Apr 26, 2021 4:36pm PDT · 9 comments

Welcome to the first edition of the Creator Economy newsletter from The Information.Social media influencers have extraordinary power over culture and they are among the savviest entrepreneurs of our time. They are also multiplying: By late last year, some 50 million people considered themselves creators, according to venture firm SignalFire... Welcome to the first edition of the Creator Economy newsletter from The Information.Social media...

The customization interface for Oculus’ new avatars, showcasing several body shape options. Image: Facebook

TI Reality Check: Snap’s AR Growth, Oculus’s Avatar Gamble

By Mathew Olson · Apr 26, 2021 11:06am PDT

With Snap expected to unveil its first augmented reality glasses next month, CEO Evan Spiegel made a point last week of emphasizing the growth he was seeing in user-generated AR content on Snapchat. That could augur well for the eventual consumer launch of AR Spectacles—provided that the company is able to make the new glasses accessible... With Snap expected to unveil its first augmented reality glasses next month, CEO Evan Spiegel...

Image: Gopuff

Gopuff Revenue Triples, but Growing Competition to Test Expansion

By Cory Weinberg · Apr 26, 2021 9:01am PDT · 1 comment

Online delivery service Gopuff more than tripled revenue last year to $340 million as the pandemic sent demand for deliveries soaring, according to a person familiar with the matter and an internal presentation viewed by The Information. Gopuff has told employees it expects to nearly triple revenue again this year to about $1 billion, as it... Online delivery service Gopuff more than tripled revenue last year to $340 million as the...

Stripe's offices in San Francisco, left, and a Lyft drivers' lounge in Oakland, Calif. Photos: Bloomberg

Stripe and Lyft Speed Up Equity Payouts to First Year

By Sylvia Varnham O'Regan and Sarah Krouse · Apr 26, 2021 6:01am PDT · 12 comments

Stripe's offices in San Francisco, left, and a Lyft drivers' lounge in Oakland, Calif. Photos: Bloomberg

Stripe and Lyft Speed Up Equity Payouts to First Year

By Sylvia Varnham O'Regan and Sarah Krouse · Apr 26, 2021 6:01am PDT · 12 comments

Lyft and Stripe have changed their compensation packages so employees vest their entire stock awards in one year, doing away with a long-standing Silicon Valley custom of requiring staff to stick around for four years before they have their full compensation in hand. Stripe, an electronic payments startup that could go public as soon as this... Lyft and Stripe have changed their compensation packages so employees vest their entire stock...

Why We Need Female Networking

By Jessica E. Lessin · Apr 24, 2021 7:47am PDT · 8 comments

When I reflect on what it has been like to be a female founder, I feel very fortunate. I haven’t raised money so I haven’t faced bias from investors. I feel very well respected by our business partners and my team. I only once had to storm out of an interview because the person interviewing me implied that my husband actually ran The... When I reflect on what it has been like to be a female founder, I feel very fortunate. I...

Apple CEO Tim Cook seen at a virtual product launch last year. Photo by Bloomberg.

The Briefing: Next Week’s Tech Earnings Parade

By Martin Peers · Apr 23, 2021 5:31pm PDT

Get ready. All five of the big tech companies—Alphabet, Apple, Amazon, Facebook and Microsoft—are reporting earnings next week. And just to keep us on our toes, Twitter and Pinterest are releasing their results as well. Of all the companies, the one that probably deserves the most attention is Apple. It’s easy to overlook a... Get ready. All five of the big tech companies—Alphabet, Apple, Amazon, Facebook and...

The Andreessen Effect — The Information’s 411

By Cory Weinberg · Apr 23, 2021 12:17pm PDT

Cory talks to Kate Clark about what her recent reporting on Andreessen Horowitz tells us about the firm’s history and its strategy to win deals. Then, Kevin McLaughlin discusses his story looking at why high-profile artificial intelligence startup DataRobot ousted its CEO. Cory talks to Kate Clark about what her recent reporting on Andreessen Horowitz tells us about...

Average Tech IPO First Day Pops Drop by a Third Since March

By Berber Jin · Apr 23, 2021 9:02am PDT · 4 comments

Average Tech IPO First Day Pops Drop by a Third Since March

By Berber Jin · Apr 23, 2021 9:02am PDT · 4 comments

If it seems like the stock market has cooled a little on new offerings, that’s because it has. Since March, the share price of tech companies going public in an initial public offering have risen an average of 41% on the first day of trading, down from an average first-day pop of 59% in January and February, according to data from... If it seems like the stock market has cooled a little on new offerings, that’s because it...

Slack employees at the company's New York office. Photo provided by Slack

Slack’s Investigation Into Executive Highlights Diversity Challenges

By Kevin McLaughlin · Apr 23, 2021 6:00am PDT · 5 comments

Earlier this week, Slack revealed that underrepresented minorities have begun leaving the company at higher rates than in the past, disclosing the trend as part of a broader report about the diversity of its workforce. It’s a particularly sensitive issue for Slack’s CEO, Stewart Butterfield, who has long been a vocal proponent of... Earlier this week, Slack revealed that underrepresented minorities have begun leaving the company...

Snap CEO Evan Spiegel. Photo by Bloomberg.

The Briefing: Snap’s (Mostly) Great Quarter

By Martin Peers · Apr 22, 2021 5:30pm PDT

If Snap’s earnings today are any guide, the digital advertising sector had a booming first quarter. Snap continued a streak of robust results by reporting 66% higher revenue and, for the first time, generating real cash. The top line increase, which was better than Snap had projected, marked the third quarter in a row where Snap’s... If Snap’s earnings today are any guide, the digital advertising sector had a booming first...

A screenshot from Lone Echo 2. Image from Ready at Dawn/Oculus Studios

TI Reality Check: A Subdued Oculus Gaming Showcase

By Mathew Olson · Apr 22, 2021 11:02am PDT

As any videogames journalist will tell you, Nintendo puts on some of the most high-energy events in the games business, jamming them with new product announcements and attracting millions of views to streamed versions of the nearly hour-long events. While its rivals often try to mimic the spirit of the Nintendo events, with varying degrees of... As any videogames journalist will tell you, Nintendo puts on some of the most high-energy events...

Tim Cook, left, and Tim Sweeney. Photos by Bloomberg; Getty Images

Why Apple Has the Edge in Epic Antitrust Trial

By Josh Sisco · Apr 22, 2021 6:00am PDT · 1 comment

Tim Cook, left, and Tim Sweeney. Photos by Bloomberg; Getty Images

Why Apple Has the Edge in Epic Antitrust Trial

By Josh Sisco · Apr 22, 2021 6:00am PDT · 1 comment

In 11 days, Epic Games will square off against Apple in an Oakland, Calif., courtroom in a trial over whether the iPhone maker violated U.S. antitrust law by forcing the videogame app developer to pay certain fees. A win by Epic would reshape the world’s most valuable company and carve a path for competitors and governments to challenge... In 11 days, Epic Games will square off against Apple in an Oakland, Calif., courtroom in a trial...

Sen. Amy Klobuchar at today's hearing. Photo by Bloomberg

The Briefing: Tile’s Powerful Strike Against Apple

By Martin Peers · Apr 21, 2021 5:02pm PDT · 1 comment

Congressional hearings involving tech executives have lately been dull affairs, with politicians ranting on one side and tech CEOs offering bland assurances on the other. But Wednesday’s Senate hearing into app stores was a different matter. In the testimonies of Tile general counsel Kirsten Daru and Spotify global affairs chief Horacio... Congressional hearings involving tech executives have lately been dull affairs, with politicians...

Rapyd's office in Mountain View, Calif. Photo: AP

Fintech Startup Rapyd Doubles Valuation Again to Over $5 Billion

By Kate Clark · Apr 21, 2021 4:23pm PDT

Rapyd, a startup whose technology helps businesses embed financial services into their own apps, is raising money in a round that would double its valuation to more than $5 billion, just four months after unveiling its last fundraising, according to two people familiar with the deal. Existing investors including European venture firm Target... Rapyd, a startup whose technology helps businesses embed financial services into their own apps,...

Partner Roundtable

Shift to Consumption-Based Cloud Models Create New Challenges

By The Information Staff · Apr 21, 2021 11:07am PDT

On April 7th, The Information hosted a roundtable discussion with business leaders to discuss the shift to a consumption-based cloud pricing model. The event and conversation, sponsored by PwC, was confidential. We want to share with our subscribers several key themes business leaders are facing in the fluctuating cloud consumption model at... On April 7th, The Information hosted a roundtable discussion with business leaders to discuss the...

Apple's Raja Bose discusses Apple's M1 chip at the company's spring event on Tuesday. Screenshot via Apple.com

TI Reality Check: Apple’s M1 Chip Meets AR

By Mathew Olson · Apr 21, 2021 11:01am PDT · 2 comments

Apple's Raja Bose discusses Apple's M1 chip at the company's spring event on Tuesday. Screenshot via Apple.com

TI Reality Check: Apple’s M1 Chip Meets AR

By Mathew Olson · Apr 21, 2021 11:01am PDT · 2 comments

Apple is conserving its energy. Yesterday’s product event—the company’s first in 2021—was of special interest to podcasters and folks who pine for those old colorful iMac G3s. It didn’t really come across as a look at Apple’s future, though, save for one possible exception. M1, Apple’s proprietary chip... Apple is conserving its energy. Yesterday’s product event—the company’s first...