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

Travelers with their suitcases at a check-in counter at Munich airport. Photo by AP.

Fortunes Begin to Turn for Sonder and Other Travel Startups

By Cory Weinberg · Apr 8, 2021 6:02am PDT

Last March, Sonder was in dire straits. The startup, which rents furnished, hotel-like apartments to travelers, laid off nearly a quarter of its staff, slashed room prices and looked to terminate some of its leases as Covid-19 brought travel to a near halt. “If we pull these levers simultaneously, we have a chance,” CEO Francis... Last March, Sonder was in dire straits. The startup, which rents furnished, hotel-like apartments...

YouTube CEO Susan Wojcicki. Photo by Bloomberg.

The Briefing: YouTube Dominates in Audience but Not Ads

By Martin Peers · Apr 7, 2021 5:02pm PDT

A Pew Research Center study out today reported that 81% of Americans surveyed said they watched YouTube, making it not only the most popular video service of any kind but the most widely used digital service, well ahead even of Facebook. YouTube was also one of only two services—the other being Reddit—to become more popular since... A Pew Research Center study out today reported that 81% of Americans surveyed said they watched...

An image from Google's new Sodar AR app. Photo by Google

TI Reality Check: Pokemon Go Pushback and AR Experimentation

By Mathew Olson · Apr 7, 2021 11:01am PDT

Niantic might have crossed a line in terms of how much it can reasonably ask of Pokemon Go players with its special Easter-timed event. Players are reportedly feeling pressured to spend money in order to collect one Pokemon in particular, which touches on a sensitive issue about loot boxes and gambling-like behavior in gaming. The Pokemon... Niantic might have crossed a line in terms of how much it can reasonably ask of Pokemon Go...

A screenshot of a recent Snapchat augmented reality feature that lets users virtually try on Gucci sneakers. Photo provided by Snap

Snap Acquires Screenshop App to Fuel Shopping Push

By Alex Heath · Apr 7, 2021 6:01am PDT · 1 comment

A screenshot of a recent Snapchat augmented reality feature that lets users virtually try on Gucci sneakers. Photo provided by Snap

Snap Acquires Screenshop App to Fuel Shopping Push

By Alex Heath · Apr 7, 2021 6:01am PDT · 1 comment

Snap is planning a bigger push into online shopping with a new feature in the Snapchat app that will recommend clothes users can buy based on photos they upload to the messaging app, according to two people with knowledge of the matter. And last fall, the company secretly acquired a startup once associated with Kim Kardashian West to help make... Snap is planning a bigger push into online shopping with a new feature in the Snapchat app that...

Inside Coinbase's San Francisco office. Photo by Bloomberg

The Briefing: Coinbase’s First Quarter Sets Stage for Big Debut

By Martin Peers · Apr 6, 2021 5:01pm PDT · 1 comment

Next week’s public market debut of cryptocurrency firm Coinbase is shaping up to be a true blockbuster. Coinbase’s first-quarter results today showed numbers any company would dream to use in their going-public pitch deck. For instance, Coinbase produced net profit of between $730 million and $800 million, up from $32 million a... Next week’s public market debut of cryptocurrency firm Coinbase is shaping up to be a...

A marketing image from Hologate.

TI Reality Check: Location-Based VR Sees a Comeback

By Mathew Olson · Apr 6, 2021 11:02am PDT · 1 comment

In the early months of the pandemic, when little was known about how easily the virus could spread, location-based virtual reality was facing an existential crisis. It was hard to fathom how businesses built around having groups of customers gather in a room to use shared equipment could avoid trouble. But as vaccination rates rise and more... In the early months of the pandemic, when little was known about how easily the virus could...

Illustration by Mike Sullivan

Apple’s New Privacy Policy Tests the Limits of Its Platform Power

By Eric Seufert · Apr 6, 2021 9:02am PDT · 29 comments

Apple plans to soon implement a broad new privacy policy that thoroughly upends the mobile advertising industry. App Tracking Transparency, or ATT, is a radical course change that endangers the business models of ad platforms, app publishers and online retailers alike. It’s hard to overstate just how much consternation and anxiety ATT has... Apple plans to soon implement a broad new privacy policy that thoroughly upends the mobile...

From left, Chase Coleman III, Scott Shleifer, and John Curtius. Photos by Bloomberg. Art by Mike Sullivan

Inside Tiger Global’s Deal Machine

By Kate Clark · Apr 6, 2021 6:00am PDT · 7 comments

From left, Chase Coleman III, Scott Shleifer, and John Curtius. Photos by Bloomberg. Art by Mike Sullivan

Inside Tiger Global’s Deal Machine

By Kate Clark · Apr 6, 2021 6:00am PDT · 7 comments

In early 2018, Tiger Global Management hired retired U.S. Army colonel Greg Gadson to speak at the hedge fund’s offsite conference at Miraval, a luxury resort and spa in Arizona’s Sonoran Desert. Gadson, who lost both legs to an explosion in Baghdad, shared this advice on overcoming intense adversity: “Focus on what you can do... In early 2018, Tiger Global Management hired retired U.S. Army colonel Greg Gadson to speak at...

Supreme Court Justice Clarence Thomas. Photo by Bloomberg.

The Briefing: The Supreme Court’s Good and Bad News for Tech

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

The tech industry got some good news and bad news from the Supreme Court today. The good news was a ruling in favor of Google in its decade-long copyright battle with Oracle. Companies ranging from Microsoft to Etsy had warned that an Oracle victory would make life much harder for the entire industry, particularly software developers and... The tech industry got some good news and bad news from the Supreme Court today. The good news was...

An image used to promote Apple’s upcoming WWDC event.

TI Reality Check: An Audio Solution for Zoom Fatigue?

By Mathew Olson · Apr 5, 2021 12:30pm PDT · 2 comments

For about a year now, I’ve been participating on and off in a weekly Zoom social gathering. Folks filter in throughout the day, and most of the time is spent in small, manageable breakout groups of four to five people for 20 minutes. Between those periods, we reconvene in the main room, and aural hell breaks loose. It doesn’t need to... For about a year now, I’ve been participating on and off in a weekly Zoom social gathering....

Clockwise from top-left: A parking lot at Citi Field, Photo by chrisswann26/ Flickr; A Kmart sign; photo by JeepersMedia/ Flickr; Amazon trailers parked outside of an Amazon delivery station in Newark, photo by Bloomberg; the former Orange County Register building in Santa Ana, photo by ksablan/ Flickr.

Amazon’s Hunger for Delivery Hubs Hits New Heights

By Paris Martineau · Apr 5, 2021 6:01am PDT · 2 comments

What do stadium parking lots, defunct Kmarts, an old toxic mill site and the former printing plant of California’s Orange County Register have in common? All of them have recently joined Amazon’s vast distribution network as delivery hubs, smaller shipping facilities that function as local post offices for Amazon packages. During the... What do stadium parking lots, defunct Kmarts, an old toxic mill site and the former printing...

Amazon CEO Jeff Bezos speaks via videoconference at a House hearing last June. Photo by Bloomberg

How Bezos’ Long-Term Vision Has Faltered on PR

By Nick Wingfield · Apr 3, 2021 7:47am PDT

Amazon CEO Jeff Bezos speaks via videoconference at a House hearing last June. Photo by Bloomberg

How Bezos’ Long-Term Vision Has Faltered on PR

By Nick Wingfield · Apr 3, 2021 7:47am PDT

Many years ago, a former executive at Apple told me that the company really only had one public relations person: Steve Jobs. That was, of course, an exaggeration since the company had a sizable PR department, but the statement captured the reality of communications at Apple, which is that Jobs micromanaged any PR that mattered. The subject of... Many years ago, a former executive at Apple told me that the company really only had one public...

Waymo CEO John Krafcik. Photo by Bloomberg.

The Briefing: What Waymo CEO’s Exit Means

By Martin Peers · Apr 2, 2021 5:01pm PDT · 1 comment

We got big news in the self-driving car industry today when John Krafcik, CEO of Alphabet’s autonomous vehicle unit Waymo, said he was stepping down. Krafcik says he is looking forward to new adventures after a “refresh” period. If he wants to stay in the industry, Krafcik would be an ideal candidate to hook up with one of the... We got big news in the self-driving car industry today when John Krafcik, CEO of Alphabet’s...

Tempo’s at-home fitness setup. Image: Tempo

SoftBank to Invest More Than $100 Million in Fitness Startup Tempo

By Kate Clark and Cory Weinberg · Apr 2, 2021 4:58pm PDT

Tempo, a 2-year-old startup trying to challenge Tonal, Mirror and Peloton in the at-home fitness market, is finalizing a more than $100 million investment led by SoftBank, two people familiar with the matter said. The deal shows that even as people return to gyms as the pandemic ebbs, venture capitalists are betting consumers will continue to be... Tempo, a 2-year-old startup trying to challenge Tonal, Mirror and Peloton in the at-home fitness...

Behind the Fintech Frenzy — The Information’s 411

By Cory Weinberg · Apr 2, 2021 11:35am PDT

Why are startups like Stripe, Plaid, Ramp and Fast raising so much money so quickly? Cory talks about the phenomenon with Bain Capital Ventures partner Merritt Hummer and The Information reporters Kate Clark and Berber Jin. Plus, an interview with Henrique Dubugras, co-CEO of Brex, a corporate credit card startup, about the pandemic,... Why are startups like Stripe, Plaid, Ramp and Fast raising so much money so quickly? Cory...

Argo AI CEO Bryan Salesky. Photo by Bloomberg.

Argo AI Planning Public Listing Later This Year

By Berber Jin and Amir Efrati · Apr 2, 2021 11:08am PDT

Argo AI CEO Bryan Salesky. Photo by Bloomberg.

Argo AI Planning Public Listing Later This Year

By Berber Jin and Amir Efrati · Apr 2, 2021 11:08am PDT

Self-driving car startup Argo AI is considering going public later this year or early next year, Argo CEO Bryan Salesky told employees at an all-hands meeting, joining a growing list of self-driving firms contemplating a public listing. Argo would be going public at a challenging time for the self-driving car industry. Expectations that cars... Self-driving car startup Argo AI is considering going public later this year or early next year,...

Rise of Food Tech Companies

By The Information Staff · Apr 2, 2021 6:46am PDT

On March 22nd, The Information hosted a Video Summit on the rise of food technology companies and the future of food with the CEOs of Eat Just and Memphis Meats in partnership with the Singapore Economic Development Board and the Singapore Tourism Board. “The future of food will require us to cultivate this very integrated ecosystem that... On March 22nd, The Information hosted a Video Summit on the rise of food technology companies and...

Ilustration by Jesus Escudero

Can BigCommerce Be More Than a Little Stone in Shopify’s Shoe?

By Malique Morris · Apr 2, 2021 6:00am PDT · 3 comments

Two years ago, Neil Bruce, head of online for Scottish hardware retailer Toolstop, was unhappy with the Adobe-run e-commerce software service he had been using and wanted to find a new platform to host Toolstop’s website. After searching around, he boiled down the choice to either Shopify of Canada, which has become the go-to site for mom... Two years ago, Neil Bruce, head of online for Scottish hardware retailer Toolstop, was unhappy...

Traders on the floor of the New York Stock Exchange. Photo by Bloomberg.

The Briefing: What the Compass IPO Tells Us

By Martin Peers · Apr 1, 2021 5:00pm PDT

Compass seems to have found its bearings. The SoftBank-backed real estate brokerage avoided the embarrassment of what Wall Streeters call a “broken IPO”—where the stock price falls below the IPO price on the first day of trading—thanks to its savvy decision to slash the size of the offering yesterday. As a result, Compass... Compass seems to have found its bearings. The SoftBank-backed real estate brokerage avoided the...

Microsoft’s HoloLens-based headset for the military. Image: Microsoft

TI Reality Check: Microsoft’s Augmented Army

By Mathew Olson · Apr 1, 2021 11:00am PDT

Microsoft’s HoloLens-based headset for the military. Image: Microsoft

TI Reality Check: Microsoft’s Augmented Army

By Mathew Olson · Apr 1, 2021 11:00am PDT

Within the augmented reality industry, there is a general assumption that wearable devices won’t catch on with the broader public until designers and engineers manage to pack all the necessary components into compact glasses that don’t cost too much. But those constraints don’t apply to devices with the military in mind, where... Within the augmented reality industry, there is a general assumption that wearable devices...