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

Five times/week

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.

By providing your email, you agree to The Information’s Privacy Policy

Recent Editions

Creator Economy

How Facebook’s $1 Billion Creator Warchest Compares

By Kaya Yurieff · Jul 14, 2021 4:24pm PDT

As our latest chart shows, Facebook is late to join the parade of tech companies offering to pay creators for showing up on their platforms. It’s making up for that latecomer status in size—and variety. Facebook and its subsidiary Instagram will pay social media creators $1 billion through 2022, one of the largest direct financial... As our latest chart shows, Facebook is late to join the parade of tech companies offering to pay...

New Momentum for Central Bank Digital Currencies

By Hannah Miller · Jul 14, 2021 3:12pm PDT

The European Central Bank has moved a step closer to launching a digital euro, a decision that puts more pressure on the U.S. to adopt a digital dollar backed by the Federal Reserve. The ECB said Wednesday that it has moved into an investigative stage where it is examining the design and distribution of a digital euro. The phase is set to... The European Central Bank has moved a step closer to launching a digital euro, a decision that...

Joseph Jerome. Photo by Joseph Jerome

A Vocal Data Privacy Lawyer Joins Facebook’s VR Team

By Mathew Olson · Jul 14, 2021 11:00am PDT · 1 comment

For the better part of a decade, Washington D.C. lawyer Joseph Jerome has pushed state and federal lawmakers to better understand tech privacy issues. In recent years, Jerome has devoted some of his attention to the unique concerns raised by the rise of VR and AR.His next act: tackling AR/VR privacy matters inside Facebook.Jerome announced the... For the better part of a decade, Washington D.C. lawyer Joseph Jerome has pushed state and...

Hong Kong's Exchange Square complex which houses the Hong Kong stock exchange. Photo by Bloomberg

China’s Kujiale, Lalamove Suspend U.S. Listing Plans, Search for Alternatives

By Juro Osawa and Shai Oster · Jul 14, 2021 10:27am PDT · 1 comment

Hong Kong's Exchange Square complex which houses the Hong Kong stock exchange. Photo by Bloomberg

China’s Kujiale, Lalamove Suspend U.S. Listing Plans, Search for Alternatives

By Juro Osawa and Shai Oster · Jul 14, 2021 10:27am PDT · 1 comment

As China’s tech startups shelve plans to go public in the U.S. due to Beijing’s cybersecurity crackdown, one question is whether they will pursue initial public offerings in Hong Kong instead. But Hong Kong listings may be challenging for tech companies in industries such as software as a service, autonomous vehicles and ride... As China’s tech startups shelve plans to go public in the U.S. due to Beijing’s...

Illustration: Jesus Escudero

Startups Turn to Wall Street to Broker VC Deals

By Kate Clark · Jul 14, 2021 6:00am PDT

For years, startups turned to Wall Street bankers either in the best of times—when they were big enough to go public—or the worst, such as when they needed to find a buyer. Now they are paying for investment bank services for a function that’s much more routine: raising early-stage venture capital. More startups are bringing on... For years, startups turned to Wall Street bankers either in the best of times—when they...

Netflix CEO Reed Hastings. Photo by Bloomberg.

Netflix Stock Drifts Into Unusual Territory: Stagnation

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

What’s the thing that investors fear far more than antitrust regulators? Slowing growth. That’s one takeaway from comparing the stock performance of Netflix this year with Apple, Amazon, Alphabet and Facebook. The stock prices of all four big tech giants, each under the crosshairs of U.S. and European antitrust regulators, are up between 10% and... What’s the thing that investors fear far more than antitrust regulators? Slowing growth. That’s...

Substack CEO Chris Best. Photo: Substack

Creator Economy

Substack to Offer Free Classes to Help Writers Earn Their First $1,000

By Kaya Yurieff · Jul 13, 2021 4:20pm PDT · 2 comments

The top 10 publishers on Substack bring in more than $20 million a year in subscriptions, underpinning the newsletter platform’s revenue growth. Now Substack is trying to broaden the pool of writers who can earn a living from paid subscriptions. Next month, it will launch a new program called “Substack Grow” that offers a free, six-session... The top 10 publishers on Substack bring in more than $20 million a year in subscriptions,...

FTX CEO Sam Bankman-Fried. Photo: FTX

FTX’s Bankman-Fried on Public Listings and Regulatory Challenges

By Hannah Miller · Jul 13, 2021 3:27pm PDT

FTX CEO Sam Bankman-Fried. Photo: FTX

FTX’s Bankman-Fried on Public Listings and Regulatory Challenges

By Hannah Miller · Jul 13, 2021 3:27pm PDT

There has been more bad news for Binance, as troubles with regulators have caused multiple payment processors to cease doing business with the big crypto exchange. Even though it isn’t clear how recent regulatory actions in various countries will affect Binance in the long term, the restrictions are making companies squeamish about teaming up... There has been more bad news for Binance, as troubles with regulators have caused multiple...

Photo by Bloomberg

Amazon Acquires Facebook’s Satellite Internet Group

By Sarah Krouse and Sylvia Varnham O'Regan · Jul 13, 2021 1:18pm PDT · 1 comment

Amazon has acquired a team of more than a dozen wireless internet experts from Facebook in an effort to boost its multibillion-dollar effort to launch thousands of satellites and offer broadband service in the U.S. and abroad, a Facebook spokesperson confirmed. The Facebook employees moved to Amazon in April to help the company develop its... Amazon has acquired a team of more than a dozen wireless internet experts from Facebook in an...

LeBron James. Photo by Bloomberg.

LeBron James’ Entertainment Firm Explores Sale at Valuation of Up to $750 Million

By Jessica Toonkel and Sahil Patel · Jul 13, 2021 12:05pm PDT

NBA superstar LeBron James’ entertainment firm, SpringHill Company, is exploring a possible sale at a valuation that could reach $750 million, according to people familiar with the situation. Among the companies said to be considering an offer is Nike, the people said. The sale discussions highlight growing interest in independent... NBA superstar LeBron James’ entertainment firm, SpringHill Company, is exploring a possible...

An attendee wears a branded virtual reality headset at MWC Barcelona last month. Photo by Bloomberg.

VR’s Record Growth Year and the Road Ahead

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

On Monday, PricewaterhouseCoopers served up a promising data point for the VR industry’s health. In its annual Global Entertainment and Media Outlook report, PwC estimated VR content revenue hit $1.8 billion last year, a 31.7% increase over the previous year. That’s an acceleration from the 25% growth reported for 2019.That makes VR the fastest... On Monday, PricewaterhouseCoopers served up a promising data point for the VR industry’s health....

Images by Shutterstock. Illustration by Mike Sullivan

Six European Instant-Delivery Startups to Watch

By Mark Di Stefano and Cory Weinberg · Jul 13, 2021 6:00am PDT · 3 comments

Images by Shutterstock. Illustration by Mike Sullivan

Startups to Watch

Six European Instant-Delivery Startups to Watch

By Mark Di Stefano and Cory Weinberg · Jul 13, 2021 6:00am PDT · 3 comments

The battle over who can deliver junk food, beer and vape pens quickly to Europeans is revving up. Over the last six months, thanks to a pandemic-inspired surge in online shopping, startups that promise to deliver party staples and fresh food to customers in London, Amsterdam and other major European cities have multiplied at a rapid clip.... The battle over who can deliver junk food, beer and vape pens quickly to Europeans is...

Amazon's new CEO Andy Jassy. Photo by Bloomberg

The Danger Posed by AWS’ Paper Pushing Culture

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

If you want to understand the biggest threat facing Amazon today—and no, it's not new FTC chair Lina Khan—check out The Information’s story today about the bureaucratic creep at Amazon Web Services. One former AWS salesperson told our reporter, Kevin McLaughlin, that at AWS he was spending around 70% of his work hours on paperwork, including... If you want to understand the biggest threat facing Amazon today—and no, it's not new FTC chair...

Basketball stars and twins Hanna Cavinder (left) and Haley Cavinder. Photo: AP

Creator Economy

Why Many More College Athletes Are About to Become Creators

By Kaya Yurieff · Jul 12, 2021 3:58pm PDT

Get ready for a wave of college-athlete influencers. On Cameo, Spencer Rattler, quarterback for the University of Oklahoma’s Division I football team, is charging $177 for personalized shoutout videos. He also recently created his own merchandise line, including t-shirts and hats.A scroll through Instagram reveals Fresno State... Get ready for a wave of college-athlete influencers. On Cameo, Spencer Rattler, quarterback for...

Financial Firms, Startups Compete for Crypto Talent

By Hannah Miller · Jul 12, 2021 3:10pm PDT

Despite sluggish prices for bitcoin and other digital assets, it is clear that institutional investors are still intrigued by cryptocurrency. Visa recently announced that it was growing its crypto team, with five new hires and placements in the last two weeks, while Goldman Sachs plans to expand the operations of its newly rebooted crypto... Despite sluggish prices for bitcoin and other digital assets, it is clear that institutional...

Monday.com, ThredUp Among Year’s Best-Performing Tech IPOs

By Berber Jin and Malique Morris · Jul 12, 2021 1:39pm PDT

Monday.com, ThredUp Among Year’s Best-Performing Tech IPOs

By Berber Jin and Malique Morris · Jul 12, 2021 1:39pm PDT

Tech IPOs slightly outpaced the broader stock market this year, propelled by strong showings from enterprise software companies including Monday.com and SentinelOne. Among the worst performers for new public listings were Coinbase and a handful of Chinese stocks. The share price of companies that went public via an initial public offering... Tech IPOs slightly outpaced the broader stock market this year, propelled by strong showings from...

The redesigned Lynx R-1 mixed reality headset. Image by Lynx

A French Startup Aims to Take on Facebook's Oculus

By Mathew Olson · Jul 12, 2021 11:00am PDT

Competing with Facebook in today’s consumer AR/VR market is seemingly too daunting for the likes of HTC, Magic Leap and Microsoft. But not so for French startup Lynx, which has decided to take on Facebook with a headset aimed at consumers and businesses.The firm, which has raised a grand total of $2.3 million so far from French angel investors,... Competing with Facebook in today’s consumer AR/VR market is seemingly too daunting for the likes...

AWS CEO Adam Selipsky. Photo by Bloomberg

AWS’ New CEO Faces a Fresh Challenge: Bureaucracy

By Kevin McLaughlin · Jul 12, 2021 6:00am PDT · 1 comment

When Adam Selipsky left Amazon Web Services in 2016 to become CEO of Tableau Software, he brought with him a handful of Amazon management traditions. For example, he discouraged Tableau colleagues from doing PowerPoint presentations, instead asking them to write multipage narrative documents about new projects, a hallmark of Amazon management. ... When Adam Selipsky left Amazon Web Services in 2016 to become CEO of Tableau Software, he brought...

The Electric, Vol. 1: Why Billions of Dollars of EV Battery Investments Are Suddenly at Risk

By Steve LeVine · Jul 11, 2021 5:00pm PDT

Henry Ford with the first and ten millionth Ford car, 1924. Credit: Library of CongressThe Electric is a new premium service, from Steve LeVine and The Information, focused on one of the most important and least-covered groupings of industries on the planet—next-generation batteries, electric vehicles and autonomous driving—and how they will... Henry Ford with the first and ten millionth Ford car, 1924. Credit: Library of CongressThe...

Chinese President Xi Jinping speaking at an event to mark the centenary of the Chinese Community Party last week. Photo by Bloomberg.

Why China’s Corporate Crackdown Isn’t What It Seems

By Shai Oster · Jul 10, 2021 7:45am PDT

Chinese President Xi Jinping speaking at an event to mark the centenary of the Chinese Community Party last week. Photo by Bloomberg.

Why China’s Corporate Crackdown Isn’t What It Seems

By Shai Oster · Jul 10, 2021 7:45am PDT

China’s moves to rein in its ride-hailing giant Didi Global this past week, just days after the company went public in the U.S., seemed to signal a far-reaching shift in the government’s policy toward its tech giants. Not only is China hassling Didi over its data policy—it also appears to be rethinking its attitude toward the corporate... China’s moves to rein in its ride-hailing giant Didi Global this past week, just days after the...