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

Axel Springer's Lars Kahl. Photo by Axel Springer

Q&A

Insider’s Parent Axel Springer Wants to Help Drive US Media Mergers

By Mark Di Stefano · Nov 25, 2020 9:01am PST · 1 comment

Axel Springer, the German owner of Business Insider, is ready to take part in a second wave of consolidation in the U.S. digital media market, according to the company’s U.S.-based head of news and media investments, Lars Kahl. Backed by its big new shareholder, private equity giant KKR, Axel Springer wants to spend 2021 on an expansion... Axel Springer, the German owner of Business Insider, is ready to take part in a second wave of...

Gene Kimmelman. Photo: Bloomberg

The Biden Adviser Who Brawls With Big Tech

By Christopher Stern · Nov 25, 2020 6:01am PST · 3 comments

Gene Kimmelman, the consumer advocate preparing the incoming Biden administration to take over antitrust enforcement at the Justice Department, has been exasperating lawmakers, regulators and even his peers in the public interest community for more than 35 years. In the late 1980s, Rep. Rick Boucher, a Virginia Democrat, grew so frustrated over... Gene Kimmelman, the consumer advocate preparing the incoming Biden administration to take over...

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

Uber Finally Hits $90 Billion Market Cap; The Information’s Tech Briefing

By Martin Peers · Nov 24, 2020 5:00pm PST

Most major tech stocks rallied with the rest of the stock market on Tuesday, as the Dow Jones Industrial Average passed the 30,000 mark for the first time. Some tech stocks hit highs nearly as symbolic as the Dow’s closing level. Uber, for instance, rose 2.4% to $51.26, its highest price ever and putting its market capitalization at $90... Most major tech stocks rallied with the rest of the stock market on Tuesday, as the Dow Jones...

Nick Clegg, Facebook’s VP of Global Affairs and Communications. Photo: AP.

Facebook Researchers Found Its ‘Political Whitelist’ Influenced Misinformation Spread

By Alex Heath · Nov 24, 2020 10:30am PST

Nick Clegg, Facebook’s VP of Global Affairs and Communications. Photo: AP.

Facebook Researchers Found Its ‘Political Whitelist’ Influenced Misinformation Spread

By Alex Heath · Nov 24, 2020 10:30am PST

During a September 2019 speech in Washington, D.C., Facebook’s global policy and communications chief Nick Clegg gave an ardent defense of the company’s policy to not fact-check politicians, saying that it wasn’t the social network’s role to “intervene when politicians speak.” Behind the scenes that summer,... During a September 2019 speech in Washington, D.C., Facebook’s global policy and...

Illustration by Jeremie Claeys

To Regulate Social Media, Forget Net Neutrality

By Roddy Lindsay · Nov 24, 2020 6:02am PST · 1 comment

The conservative Federalist Society’s virtual national convention recently hosted a panel on “Regulating Social Media” featuring a prominent cast of government officials and outside experts. I tuned in, expecting a robust discussion on privacy, data portability, algorithmic bias and content moderation. It was a disappointment.... The conservative Federalist Society’s virtual national convention recently hosted a panel...

Travelers at San Francisco Airport. Photo by Bloomberg

The Tech Industry’s Diaspora: The Information’s Tech Briefing

By Martin Peers · Nov 23, 2020 5:32pm PST

The stock market is acting like the Covid vaccines have already been administered. Meanwhile, in the real world, what could be a long-term consequence of the pandemic is unfolding: there are signs the San Francisco Bay Area is losing its iron grip on the tech industry. We ran a story today on high-profile tech CEOs such as Dropbox’s Drew... The stock market is acting like the Covid vaccines have already been administered. Meanwhile, in...

Art by Jesse Howe

The Information’s Top 10 ‘Tech’ Gifts for 2020

By The Information Staff · Nov 23, 2020 9:02am PST · 3 comments

Like many of our subscribers, the reporters and editors at The Information have been working from home during the coronavirus pandemic over the past eight months. That explains why many of the products and services we are recommending this year in our annual gift guide have a distinct remote-work vibe. On the list of our top 10 favorite gifts is... Like many of our subscribers, the reporters and editors at The Information have been working from...

Brex co-CEO Henrique Dubugras, Dropbox CEO Drew Houston and Splunk CEO Doug Merritt. Photos: Bloomberg

Tech CEOs Are Saying Goodbye to San Francisco

By Cory Weinberg, Kate Clark and Zoë Bernard · Nov 23, 2020 6:02am PST · 2 comments

Brex co-CEO Henrique Dubugras, Dropbox CEO Drew Houston and Splunk CEO Doug Merritt. Photos: Bloomberg

Tech CEOs Are Saying Goodbye to San Francisco

By Cory Weinberg, Kate Clark and Zoë Bernard · Nov 23, 2020 6:02am PST · 2 comments

Splunk, Dropbox and Brex followed similar formulas as they grew from small startups to established companies. To attract employees and customers, each set up elaborate San Francisco offices and plastered billboards for its services around the city. Dropbox three years ago leased a giant new office building on the city’s eastern edge.... Splunk, Dropbox and Brex followed similar formulas as they grew from small startups to...

Airbnb CEO Brian Chesky. Photo by Bloomberg

Why Silicon Valley Loves Airbnb—for Now

By Jessica E. Lessin · Nov 21, 2020 7:46am PST · 1 comment

This week you saw something you don’t often see: goodwill for a tech company. Maybe it was a reaction to the endless years of lashing out against tech CEOs on Twitter, often coming from other tech CEOs themselves. Or the incessant pressure from the press about tech companies and their bad behavior. But as I read positive tweet after ... This week you saw something you don’t often see: goodwill for a tech company. Maybe it was...

The Nasdaq's New York office. Photo by Bloomberg

Wish’s IPO Filing Rounds Out Busy Week: The Information’s Tech Briefing

By Martin Peers · Nov 20, 2020 5:32pm PST

E-commerce firm Wish filed to go public on Friday, the fifth high-profile tech firm to do so in the past week, and confirmation that the last few weeks of the year will be a busy time for IPOs. What’s notable is that four of the five companies—Wish, DoorDash, Roblox and Affirm—have enjoyed a burst of faster growth thanks to the... E-commerce firm Wish filed to go public on Friday, the fifth high-profile tech firm to do so in...

The Information’s 411 — Dark Side of the Loon

By Tom Dotan · Nov 20, 2020 1:22pm PST · 2 comments

Alex talks about the tensions inside Facebook over how to deal with misleading posts from political leaders. Cory gets the inside story from Nick Bastone about struggles at Alphabet's Loon, the experimental company that has tried to bring internet connectivity to rural areas. Alex talks about the tensions inside Facebook over how to deal with misleading posts from...

A lidar sensor made by Hesai on an experimental self driving car in San Francisco last year. Photo by AP

Chinese Self-Driving Startups Plus and Hesai Considering Going Public

By Yunan Zhang · Nov 20, 2020 12:30pm PST

A lidar sensor made by Hesai on an experimental self driving car in San Francisco last year. Photo by AP

Chinese Self-Driving Startups Plus and Hesai Considering Going Public

By Yunan Zhang · Nov 20, 2020 12:30pm PST

High-profile Chinese autonomous driving tech startups are getting ready to go public, tempted by special purpose acquisition companies and heady valuations on Wall Street and in China’s own booming domestic stock markets. Autonomous trucking startups Plus and TuSimple, as well as lidar sensor maker Hesai Technology, are considering... High-profile Chinese autonomous driving tech startups are getting ready to go public, tempted by...

Art by Mike Sullivan

Airbnb’s Chesky Takes Far Lower Salary Than Most Tech CEOs at IPO

By Martin Peers · Nov 20, 2020 9:02am PST

Airbnb has distinguished itself on a number of grounds, including the innovative nature of its business model and its ability to turn a profit, at least for a period of time. But it also stands out for how little money its CEO earns, at least in terms of his salary. The travel firm’s initial public offering filing revealed that CEO Brian... Airbnb has distinguished itself on a number of grounds, including the innovative nature of its...

Microsoft's Xbox Series X and S consoles. Photo by Microsoft

Microsoft’s New Weapon in Console Wars: a ‘Netflix for Games’

By Nick Wingfield · Nov 20, 2020 6:02am PST · 5 comments

Last week, Microsoft and Sony kicked off a new round of game console wars, releasing new machines likely to be among the most sought-after gifts this holiday season. And this round is particularly important for Microsoft, which needs to do better than it did in the last chapter of the games business. It’s fair to say that Sony left... Last week, Microsoft and Sony kicked off a new round of game console wars, releasing new machines...

BuzzFeed CEO Jonah Peretti. Photo by Bloomberg

BuzzFeed Snags HuffPo: The Information’s Tech Briefing

By Martin Peers · Nov 19, 2020 5:31pm PST

Consolidation in digital media took a small step forward today when BuzzFeed announced it will acquire HuffPost from Verizon. It’s an elegant combination from a historical perspective: Media investor Ken Lerer and BuzzFeed CEO Jonah Peretti were both involved in founding HuffPost 15 years ago. But whether the deal helps BuzzFeed amass more... Consolidation in digital media took a small step forward today when BuzzFeed announced it will...

A help wanted sign hangs on the door of a Target store in Uniontown, Pa. Photo: AP

Job Site Hired, Once Valued at $500 Million, Discusses Winding Down

By Zoë Bernard · Nov 19, 2020 2:26pm PST · 2 comments

A help wanted sign hangs on the door of a Target store in Uniontown, Pa. Photo: AP

Job Site Hired, Once Valued at $500 Million, Discusses Winding Down

By Zoë Bernard · Nov 19, 2020 2:26pm PST · 2 comments

Hired, a recruitment service for tech jobs, has started a process to sell assets, pay off creditors and wind down the company, according to people familiar with the plans and a document seen by The Information. The company’s chief financial officer, Edward Schaffer, told some shareholders last week that the board has been unsuccessfully... Hired, a recruitment service for tech jobs, has started a process to sell assets, pay off...

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

Airbnb’s IPO Signals That Rigid Lockup Rules Are on the Way Out

By Ross Matican · Nov 19, 2020 6:01am PST · 1 comment

When Airbnb filed to go public on Monday, its IPO prospectus contained a provision that until recently wasn’t common for public offerings: Its employees will be allowed to sell up to 15% of their shares within the first week of trading in December. And they’ll be able to sell even more shares if Airbnb’s stock price trades at a... When Airbnb filed to go public on Monday, its IPO prospectus contained a provision that until...

Apple CEO Tim Cook. Photo by Bloomberg

Apple’s Tax Cut: The Information’s Tech Briefing

By Martin Peers · Nov 18, 2020 5:31pm PST · 1 comment

Apple is cutting taxes! Well, at least it’s cutting the infamous “Apple tax,” the commission it charges app developers on money they make through the App Store. In future, developers earning less than a million dollars in proceeds will only pay 15% of the money as a commission, half of what they typically pay now. In its... Apple is cutting taxes! Well, at least it’s cutting the infamous “Apple tax,”...

Mike Sullivan

Facing Antitrust Probes, Google and Facebook Avoid Big M&A Deals

By Laura Mandaro and Nick Bastone · Nov 18, 2020 9:02am PST

Tech M&A roared back in the second half of this year, highlighted by multibillion-dollar deals that promise to reshape competition in semiconductors, delivery apps and digital health. Yet for some of the largest tech companies, major acquisitions were scarce. As authorities in the U.S. and elsewhere stepped up antitrust investigations this... Tech M&A roared back in the second half of this year, highlighted by multibillion-dollar...

Art by Mike Sullivan

As Cloud Adoption Booms, Integration and Talent Remain Challenges

By The Information Staff · Nov 18, 2020 8:00am PST

Art by Mike Sullivan

As Cloud Adoption Booms, Integration and Talent Remain Challenges

By The Information Staff · Nov 18, 2020 8:00am PST

Cloud computing used to be a trend big tech companies talked about on their earnings calls, and business executives rolled their eyes at. Now, it is part of the fabric of every major—and minor business. And the transformation that cloud technologies are going to bring about for businesses, and ultimately consumers, is major and just... Cloud computing used to be a trend big tech companies talked about on their earnings calls, and...