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

MGM's headquarters in Los Angeles. Photo by Bloomberg.

Amazon Pondering Deal to Buy MGM

By Jessica Toonkel and Nick Wingfield · May 17, 2021 2:58pm PDT · 4 comments

Amazon is in discussions to acquire MGM Holdings, said a person familiar with the situation, in what would be the ecommerce giant’s biggest move yet to expand in entertainment. MGM owns a major film library, with interests in the long running James Bond franchise as well as other well known titles such as Rocky and Pink Panther. It... Amazon is in discussions to acquire MGM Holdings, said a person familiar with the situation,...

David Ebersman, cofounder and CEO of Lyra Health. Photo courtesy of Lyra Health.

Mental Health Startup Lyra Health Valued at $4.6 Billion in Coatue-Led Round

By Berber Jin · May 17, 2021 1:58pm PDT · 1 comment

Lyra Health, which provides mental health benefits such as virtual therapy sessions to employees of large companies, is raising a new, $200 million round of funding that will value it at nearly $4.6 billion, according to two people familiar with the deal. Hedge fund Coatue Management is leading the financing as a new investor, the people said. ... Lyra Health, which provides mental health benefits such as virtual therapy sessions to employees...

Consumer Trends Shaping the Future of Entertainment

By The Information Staff · May 17, 2021 1:27pm PDT

The Information hosted a Video Summit to discuss the trends and technology shaping the future of in-home entertainment with the CEOs of Hooked and Kinema (previously Storyspaces) in partnership with Comcast Universal LIFT Labs. “I think there still is an appetite for people to gather around films,” said Christie Marchese, founder and... The Information hosted a Video Summit to discuss the trends and technology shaping the future of...

Snap’s Spectacles 3 smart glasses. Image: Snap

How Snap and Microsoft See Consumer AR

By Mathew Olson · May 17, 2021 11:39am PDT · 1 comment

Snap’s Spectacles 3 smart glasses. Image: Snap

How Snap and Microsoft See Consumer AR

By Mathew Olson · May 17, 2021 11:39am PDT · 1 comment

According to a new report from Snap and Deloitte, 73% of people can correctly identify AR when they see it, but people generally have “a hard time defining or describing what it is.”That presents a branding challenge for companies marketing AR-based products to consumers. If consumers know augmented reality when they see it but don’t quite know... According to a new report from Snap and Deloitte, 73% of people can correctly identify AR when...

AT&T CEO John Stankey. Photo by Bloomberg.

In WarnerMedia-Discovery Deal, Old-School TV Execs Reclaim Power

By Martin Peers and Jessica Toonkel · May 17, 2021 9:29am PDT · 1 comment

A new team is taking over at WarnerMedia—and it looks a lot like the old-school TV team that ran the company before AT&T bought it. The question is whether that mindset will help or hurt Warner’s ability to remake itself for the digital age. AT&T confirmed Monday morning that it will sell WarnerMedia to Discovery. In comments... A new team is taking over at WarnerMedia—and it looks a lot like the old-school TV team...

Photo: Bloomberg

Google Struggles to Match Apple on Smartphone Privacy Changes

By Sarah Krouse · May 17, 2021 6:02am PDT

Pressured by Apple’s recent iPhone privacy initiative, Google is accelerating work to limit how app developers can track the 2.5 billion people who use phones powered by its Android software. The efforts are still in flux and have been delayed by internal concerns that such moves will diminish the $130 billion a year spent on U.S. mobile... Pressured by Apple’s recent iPhone privacy initiative, Google is accelerating work to limit...

Discovery CEO David Zaslav. Photo by Bloomberg.

Warner-Discovery Deal Talks Thrust John Malone and David Zaslav Into Spotlight

By Jessica Toonkel and Martin Peers · May 16, 2021 3:51pm PDT · 2 comments

AT&T is effectively throwing in the towel on entertainment. The telecom giant is in talks to sell WarnerMedia to Discovery Inc., the John Malone–controlled TV firm, said a person familiar with the situation. If the deal is consummated—and antitrust scrutiny will be a potential stumbling block—it will scramble the... AT&T is effectively throwing in the towel on entertainment. The telecom giant is in...

Incoming FTC antitrust enforcement chief Eyitayo St. Matthew-Daniel. Credit: DOJ. Art by Mike Sullivan.

FTC Picks New Antitrust Top Cop to Battle Facebook, Probe Amazon

By Josh Sisco · May 15, 2021 11:58am PDT

Incoming FTC antitrust enforcement chief Eyitayo St. Matthew-Daniel. Credit: DOJ. Art by Mike Sullivan.

FTC Picks New Antitrust Top Cop to Battle Facebook, Probe Amazon

By Josh Sisco · May 15, 2021 11:58am PDT

A little-known criminal antitrust prosecutor at the U.S. Department of Justice, Eyitayo St. Matthew-Daniel, is expected to be named the top antitrust enforcer at the department’s sister agency, the Federal Trade Commission, say three people familiar with the situation. The previously unreported pick comes from current Acting FTC Chair... A little-known criminal antitrust prosecutor at the U.S. Department of Justice, Eyitayo St....

How Our Amazon Trucking Investigation Came Together

By Jessica E. Lessin · May 15, 2021 7:45am PDT · 2 comments

One of my favorite things about being an editor is watching other reporters in action. I’m routinely amazed by their techniques and perseverance, both of which are necessary to produce excellent journalism.Paris’s efforts around her five-month investigation into the safety of Amazon’s highway trucking expansion were nothing short of impressive.... One of my favorite things about being an editor is watching other reporters in action. I’m...

The Real Cost of Amazon Prime

By Martin Peers · May 14, 2021 5:00pm PDT

In his annual shareholder letter a few weeks ago, Amazon founder Jeff Bezos calculated the value the e-commerce giant had created for its customers. He concentrated on how much time Amazon saves shoppers in freeing them from driving to a store to buy goods. His conclusion: The convenience of Amazon Prime is worth $630 a year for each Prime... In his annual shareholder letter a few weeks ago, Amazon founder Jeff Bezos calculated the value...

Apple and Uyghur Labor — The Information’s 411

By Cory Weinberg · May 14, 2021 4:34pm PDT

The Information found evidence of Apple working with suppliers suspected of using forced labor. How? Cory talks to Wayne Ma about how he discovered Apple's links to the Xinjiang region of China. Then, an interview with scholar Laura T. Murphy about how tech companies can look for evidence of forced labor in their supply chains. The Information found evidence of Apple working with suppliers suspected of using forced labor....

A still image from WPTV news footage of a truck crash last November in Palm Beach County, Fla. Image courtesy of WPTV

The Deadly Toll of Amazon’s Trucking Boom

By Paris Martineau · May 14, 2021 6:00am PDT · 9 comments

A still image from WPTV news footage of a truck crash last November in Palm Beach County, Fla. Image courtesy of WPTV

TI Investigation

The Deadly Toll of Amazon’s Trucking Boom

By Paris Martineau · May 14, 2021 6:00am PDT · 9 comments

Abdullah Baidas had just pulled over to help the victims of a minor traffic accident on a freeway north of Houston when the truck with the blue smiley-face logo on its side shattered his body. The 23-year-old mechanic was standing on the shoulder of the freeway reporting the original fender bender to a 911 operator by phone. The call provides a... Abdullah Baidas had just pulled over to help the victims of a minor traffic accident on a freeway...

Disney's headquarters in Burbank.

Why Disney’s Streaming Slowdown Isn’t as Bad as It Looks

By Martin Peers · May 13, 2021 5:00pm PDT

How many video streaming services does it take to profitably entertain America? That question has been top of mind for people in the tech and media industries over the past year, as numerous TV companies jumped into the market made popular by Netflix with their own streaming offerings. Whether there was enough demand for each of these to make... How many video streaming services does it take to profitably entertain America? That question has...

Discord co-founder and CTO Stanislav Vishnevskiy. Photo: Discord

Creator Economy

Why Even Discord Is Offering Creators Ways to Get Paid

By Kaya Yurieff · May 13, 2021 3:16pm PDT

Discord isn’t just a social network for video gamers anymore. The service has mushroomed into a 150 million-user hangout spot for everyone from high-school debate teams to karaoke singers. Now it’s helping Internet stars who have also gravitated to Discord get paid when they stick around. The San Francisco-based startup is using a familiar... Discord isn’t just a social network for video gamers anymore. The service has mushroomed into a...

A marketing image of people playing Resolution’s Demeo game. Image: Resolution Games

A Gaming Veteran on the VR Market and ‘Crunch Culture’

By Mathew Olson · May 13, 2021 11:00am PDT

Tommy Palm, co-founder and CEO of Sweden’s Resolution Games, got his start coding games in the 1980s. Before starting Resolution, he built two other studios, one of which was acquired by mobile game developer King in 2012. There, Palm helped create Candy Crush Saga, a hit puzzle game that soon attracted millions of players and brought in... Tommy Palm, co-founder and CEO of Sweden’s Resolution Games, got his start coding games in the...

VMware's new CEO Raghu Raghuram. Photo by VMware.

VMware’s CEO Pick Surprised Insiders: Why the Choice Makes Sense

By Kevin McLaughlin · May 13, 2021 8:58am PDT

VMware's new CEO Raghu Raghuram. Photo by VMware.

The Big Interview

VMware’s CEO Pick Surprised Insiders: Why the Choice Makes Sense

By Kevin McLaughlin · May 13, 2021 8:58am PDT

While VMware began looking for a new leader to succeed Pat Gelsinger as CEO early this year, some employees and industry watchers expected the company to shake things up by appointing a different type of CEO than the three technologists who had previously led it. At the time, many insiders feared VMware’s best days were behind it, as the... While VMware began looking for a new leader to succeed Pat Gelsinger as CEO early this year, some...

Tourists followed a tour guide through a backstreet in Florence, Italy, in 2017. Photo: Bloomberg

Airbnb Confronts Tighter Rules on Rentals as Pandemic Ebbs

By Cory Weinberg · May 13, 2021 8:16am PDT

As Airbnb works to reinvigorate its business after the pandemic all but extinguished travel to urban destinations, it is confronting a fresh threat from regulators intent on limiting the number of homes they allow to be rented out to tourists. In cities around the world, but especially in Europe, authorities are taking steps to tighten the rules... As Airbnb works to reinvigorate its business after the pandemic all but extinguished travel to...

Epic Games CEO Tim Sweeney, on the left, leaving the courthouse last week. Photo by Bloomberg.

Midway Through Apple-Epic Trial, Apple Maintains Its Advantage

By Josh Sisco · May 13, 2021 6:01am PDT · 3 comments

App developers are rooting for Epic Games to win its court battle against Apple. Yet some prominent developers told The Information they have grown concerned that the ongoing antitrust trial between Apple and Epic could hurt their own efforts to take on Apple and redefine who controls the economics of consumer apps. That’s because the... App developers are rooting for Epic Games to win its court battle against Apple. Yet some...

SoftBank CEO Masa Son. Photo by Bloomberg

SoftBank's Year of Dramas and Crises

By Martin Peers · May 12, 2021 5:00pm PDT

What a year SoftBank CEO Masayoshi Son has had. The Japanese investment giant was arguably one of the worst affected by the Covid downturn last year, given its high debt and significant exposure to companies like Uber and WeWork that were walloped by the lockdowns. Even before the worst of the economic impact had hit, SoftBank reported a $9... What a year SoftBank CEO Masayoshi Son has had. The Japanese investment giant was arguably one of...

TikTok’s Pandemic Popularity Got Advertisers’ Attention, New Data Shows

By Kaya Yurieff · May 12, 2021 3:04pm PDT

Creator Economy

TikTok’s Pandemic Popularity Got Advertisers’ Attention, New Data Shows

By Kaya Yurieff · May 12, 2021 3:04pm PDT

A new survey of U.S. advertisers shows just how much the pandemic put TikTok on their radar. Some 68% of those polled in March say they expect to use influencers on TikTok to sell their products, up from 16% in February 2020. Marketing firm Linqia polled 163 companies and agencies for the survey, a relatively small pool but one that... A new survey of U.S. advertisers shows just how much the pandemic put TikTok on their radar. Some...