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

Gennady Golovkin celebrates his victory over Kamil Szeremeta during a middleweight title fight in December. Photo by AP

A Netflix for Sports Rolls With the Punches

By Jessica Toonkel, Tom Dotan and Mark Di Stefano · Feb 10, 2021 6:01am PST

A few years ago, it seemed like DAZN had all the ingredients for fulfilling its vision of becoming a global Netflix for sports, including a billionaire backer who had already made a killing betting on media and a leader who was the onetime head of ESPN. It even had a goofy, vowel-challenged name (pronounced dah-zone) that hinted at its plans for... A few years ago, it seemed like DAZN had all the ingredients for fulfilling its vision of...

Twitter's San Francisco headquarters. Photo by Bloomberg

Twitter’s Capex Splurge: The Information’s Tech Briefing

By Martin Peers · Feb 9, 2021 5:34pm PST

Twitter’s fourth-quarter results today were impressive, and not just because they showed the same surging revenue growth as other internet-based ad companies Google, Facebook, Snap and Pinterest. Twitter’s ad sales business had been hit harder than most by the pandemic crunch earlier in the year and hadn’t recovered as much in... Twitter’s fourth-quarter results today were impressive, and not just because they showed...

Chart by Mike Sullivan

Netflix’s Winning Formula: Cutting Ad Spending Without Hurting Growth

By Tom Dotan · Feb 9, 2021 6:00am PST · 3 comments

The race to sign up subscribers in the streaming wars is a test of marketing prowess as much as it is of programming strength. That’s what makes Netflix’s performance last year so impressive: The streaming giant added subscribers even as it cut spending on advertising and as a slew of older entertainment companies launched competing... The race to sign up subscribers in the streaming wars is a test of marketing prowess as much as...

Elon Musk. Photo by Bloomberg

Tesla’s Risky Bitcoin Bet: The Information’s Tech Briefing

By Martin Peers · Feb 8, 2021 5:32pm PST · 6 comments

Elon Musk. Photo by Bloomberg

Tesla’s Risky Bitcoin Bet: The Information’s Tech Briefing

By Martin Peers · Feb 8, 2021 5:32pm PST · 6 comments

No one could ever accuse Elon Musk of taking the conservative path. The minute he puts Tesla on a financially sound footing, he decides to invest $1.5 billion of the company’s cash reserves in Bitcoin, one of the most volatile assets around. Just imagine what he’d do if Tesla had the cash stockpile of an Apple, Microsoft or an... No one could ever accuse Elon Musk of taking the conservative path. The minute he puts Tesla on a...

The Europeans Deciding Tech’s Future

By Mark Di Stefano · Feb 8, 2021 9:02am PST · 3 comments

The European Commission, after spending years penalizing giant tech firms with fines, has decided to step up the fight against what authorities see as abuses of power. How the battle with Facebook, Amazon and other tech titans plays out depends in part on a major policy difference brewing between the continent’s top two regulators on the... The European Commission, after spending years penalizing giant tech firms with fines, has decided...

Images by Shutterstock; illustration by Mike Sullivan

Inside Apple’s Mad Dash to Avoid Shipping Delays Amid Pandemic

By Wayne Ma · Feb 8, 2021 6:02am PST · 5 comments

The Covid-19 pandemic has caused havoc for manufacturers shipping goods around the world. Just ask executives at Apple why they shipped empty cardboard boxes from the U.S. to Asia, the reverse of the usual route. Last February, Apple’s Singapore distribution center ran out of the brown mailing boxes needed to fulfill a spike in iPad orders... The Covid-19 pandemic has caused havoc for manufacturers shipping goods around the world. Just...

What Critics of the News Industry Get Right—and Wrong

By Jessica E. Lessin · Feb 6, 2021 7:46am PST · 24 comments

Thank you for your feedback on my column last week about the nightmare I believe is waiting for the news industry. It is clear that technology hasn’t just anointed Google, Facebook and Twitter the new gatekeepers. It has gone further and killed the very notion of a gatekeeper itself. The result is an increasingly loud mess of services... Thank you for your feedback on my column last week about the nightmare I believe is waiting for...

Kuaishou's headquarters in Beijing. Photo by Bloomberg

Kuaishou’s IPO and Stock Price Inflation: The Information’s Tech Briefing

By Martin Peers · Feb 5, 2021 5:32pm PST

Kuaishou's headquarters in Beijing. Photo by Bloomberg

Kuaishou’s IPO and Stock Price Inflation: The Information’s Tech Briefing

By Martin Peers · Feb 5, 2021 5:32pm PST

No one talks about inflation much anymore, although the $1.9 trillion stimulus plan now working its way through Congress has sparked a little chatter of its revival. But judging by some recent stock valuations, we’ve already got inflation—in asset prices on the stock market. The latest example is Kuaishou, the Chinese company that,... No one talks about inflation much anymore, although the $1.9 trillion stimulus plan now working...

The Information’s 411 — When Startups Get Political

By Tom Dotan · Feb 5, 2021 3:24pm PST · 1 comment

This week, we bring you two of the most revealing interviews from The Information’s Future of Startups conference. Expensify CEO David Barrett and Cameo CEO Steven Galanis spar over the right way to lead a startup in an extreme political climate. Then, Jessica Lessin interviews former Google CEO Eric Schmidt about antitrust scrutiny and... This week, we bring you two of the most revealing interviews from The Information’s Future...

A truck and trailers outside an Amazon fulfillment center in Poland. Photo by Bloomberg

In Need of Truckers, Amazon Plans Incubator to Create More Shipping Companies

By Paris Martineau · Feb 5, 2021 6:01am PST · 2 comments

Amazon is finding it can’t hire enough trucking companies to haul all its freight. So it decided to help would-be trucking entrepreneurs start their own firms. The retail behemoth is working on an incubator program that aims to train hundreds of people to launch their own trucking businesses exclusively transporting freight for... Amazon is finding it can’t hire enough trucking companies to haul all its freight. So it...

A Kuaishou ad in Beijing. Photo by Bloomberg.

Kuaishou’s Soaring IPO Signals How ByteDance Offering Could Trade

By Juro Osawa, Shai Oster and Yunan Zhang · Feb 5, 2021 3:40am PST

The market debut of Kuaishou offers a hint of what could be in store for TikTok’s owner ByteDance. The live-streaming and short-video app that grew by catering to China’s countryside and smaller cities is now worth nearly $160 billion after its share price nearly tripled on its first day of trading in Hong Kong Friday. That makes... The market debut of Kuaishou offers a hint of what could be in store for TikTok’s owner...

Pinterest CEO Ben Silbermann. Photo by Bloomberg.

What Pinterest, Snap Results Show About Ad Market’s Shift: The Information’s Tech Briefing

By Martin Peers · Feb 4, 2021 5:31pm PST

Pinterest CEO Ben Silbermann. Photo by Bloomberg.

What Pinterest, Snap Results Show About Ad Market’s Shift: The Information’s Tech Briefing

By Martin Peers · Feb 4, 2021 5:31pm PST

Stellar fourth-quarter advertising revenues reported today by both Snap and Pinterest made it official. A fourth-quarter acceleration in ad growth occurred across the board for big digital firms—Facebook, Google, Amazon—and the two smaller social media firms. It’s a sign of just how much 2020 shifted the ad market away from... Stellar fourth-quarter advertising revenues reported today by both Snap and Pinterest made it...

Eric Schmidt. Photo courtesy of Eric Schmidt.

The Future of Startups

Former Google CEO Fears ‘Chilling Effect’ of Antitrust Probes

By Jessica E. Lessin · Feb 4, 2021 4:59pm PST · 7 comments

Eric Schmidt ran Google during its ascendance into one of the world’s most powerful companies, and before regulators on multiple continents ramped up investigations into its potential abuses of power. Today, Schmidt said he fears that antitrust probes into Google and other tech giants will have a “chilling effect” on innovation... Eric Schmidt ran Google during its ascendance into one of the world’s most powerful...

Expensify CEO David Barrett, left, and Cameo CEO Steven Galanis. Photos courtesy of the Expensify and Cameo.

Future of Startups

Expensify and Cameo CEOs Spar Over Politics at Work

By Zoë Bernard · Feb 4, 2021 4:51pm PST · 3 comments

The year 2020 is over, but one of the most contentious issues facing tech companies last year—whether their leaders should take stands on political issues, and if so, how loudly—is not going away. Case in point: an at-times heated discussion between David Barrett, the Expensify founder and CEO who late last year emailed 10 million... The year 2020 is over, but one of the most contentious issues facing tech companies last...

Mirror founder Brynn Putnam.

The Future of Startups

More Highlights From The Information’s Future of Startups Conference

By The Information Staff · Feb 4, 2021 4:00pm PST

Notion Labs has more than doubled its users since April, COO Akshay Kothari revealed on Thursday, while Brynn Putnam, founder of fitness equipment startup Mirror revealed what led her to sell to Lululemon. Both were speaking on the second day of The Information's Future of Startup conference. Below are some highlights of Thursday... Notion Labs has more than doubled its users since April, COO Akshay Kothari revealed on Thursday,...

Investor Sam Altman, Zola CEO Shan-Lyn Ma, Precursor Ventures founder Charles Hudson and Niantic COO Megan Quinn at The Information's Future of Startups conference.

Highlights from Day Two of The Information’s Future of Startups Conference

By The Information Staff · Feb 4, 2021 12:26pm PST

Investor Sam Altman, Zola CEO Shan-Lyn Ma, Precursor Ventures founder Charles Hudson and Niantic COO Megan Quinn at The Information's Future of Startups conference.

The Future of Startups

Highlights from Day Two of The Information’s Future of Startups Conference

By The Information Staff · Feb 4, 2021 12:26pm PST

Former Y Combinator president Sam Altman, Forerunner Ventures founder Kirsten Green, Cloudflare's Michelle Zatlyn and Niantic COO Megan Quinn were among the investors and tech executives appearing on the second day of The Information’s Future of Startups conference. Below are the highlights from the morning sessions. Sam Altman: ... Former Y Combinator president Sam Altman, Forerunner Ventures founder Kirsten Green,...

Apple CEO Tim Cook announces new products last October. Screenshot of Apple event via YouTube

New Apple Mixed-Reality Headset Details: Swappable Headbands, Eye-Tracking

By Alex Heath and Wayne Ma · Feb 4, 2021 6:02am PST · 22 comments

A mixed-reality headset Apple is developing will be equipped with more than a dozen cameras for tracking hand movements and showing video of the real world to people wearing it, along with ultra-high-resolution 8K displays and advanced technology for eye tracking, according to a person with direct knowledge of the device. Those are among a bevy... A mixed-reality headset Apple is developing will be equipped with more than a dozen cameras for...

Carta CEO Henry Ward.

Future of Startups

Revenue Climbs at Carta, a VC Favorite Now Valued at $6.9 Billion After Private Stock Sales

By Zoë Bernard and Cory Weinberg · Feb 3, 2021 5:55pm PST · 3 comments

Launching an exchange to help employees and investors sell stock in private startups may seem an odd choice for this year, given the boom in public listings that promise imminent cashouts. But Henry Ward, who founded Carta eight years ago to develop such an exchange, is betting that demand is still high. If he needed proof, he could point to... Launching an exchange to help employees and investors sell stock in private startups may seem an...

Photo by Bloomberg

Understanding Google Cloud’s Red Ink: The Information’s Tech Briefing

By Martin Peers · Feb 3, 2021 5:02pm PST

Amazon really cut Google a break on Tuesday. If it wasn’t for Jeff Bezos’ big news, the tech media and investors would likely have focused a lot more on the fact that Google Cloud, now 9 years old, lost $5.6 billion last year. When Amazon Web Services was that age, it was comfortably profitable. AWS may be unusually... Amazon really cut Google a break on Tuesday. If it wasn’t for Jeff Bezos’ big news,...

Substack CEO Chris Best appearing at The Future of Startups conference.

Highlights From Day One of The Future of Startups Conference

By The Information Staff · Feb 3, 2021 4:10pm PST

Substack CEO Chris Best appearing at The Future of Startups conference.

The Future of Startups

Highlights From Day One of The Future of Startups Conference

By The Information Staff · Feb 3, 2021 4:10pm PST

Here's some highlights from the first day of The Information's Future of Startups conference Wednesday. Substack Founders Prepare for Competition from Facebook, Twitter The news last week that both Facebook and Twitter are jumping into the newsletter market marked a big moment for Substack, the subscription newsletter startup... Here's some highlights from the first day of The Information's Future of Startups...