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

Get smarter about the day’s news in tech, media and finance by following Silicon Valley’s most-read executive newsletter.

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Recent Editions

Photo by Bloomberg

A TikTok Deal Gets Closer, Facebook Bashes Apple

By Martin Peers · Aug 28, 2020 4:05pm PDT

TikTok appears to be inching closer to a deal to be acquired by groups led by either Microsoft or Oracle, along with minority investors. Once that’s done, the hard part will start.If the deal only involves the TikTok service in North America, Australia and New Zealand, as Microsoft said earlier this month, figuring out how those assets and... TikTok appears to be inching closer to a deal to be acquired by groups led by either Microsoft or...

Announcing the 2020 WTF Summit Breakouts

Announcing the 2020 WTF Summit Breakouts

By The Information Staff · Aug 28, 2020 2:13pm PDT · 2 comments

We’re excited to see everyone on September 9 and 10 at The Information's WTF Summit. Our breakout sessions are an important part of the Summit. At this year’s event, we’ll have two sets of 45-minute breakout sessions, one on each day. Here’s a preview of this year’s topics, which will feature small group... We’re excited to see everyone on September 9 and 10 at The Information's WTF Summit....

The Information’s 411 — Wherefore Art Thou Domio

By Tom Dotan · Aug 28, 2020 1:26pm PDT

The second part of our Airbnb series looks at Domio, a startup that tried to build a business on the Airbnb platform. Paris tells us how she stumbled across the Domio story and how the company gamed loopholes in city guidelines about short-term rentals. And Cory explains what the Domio saga means for Airbnb as it heads toward an IPO. The second part of our Airbnb series looks at Domio, a startup that tried to build a business on...

From left to right: Ryan Sarver, Nikhil Basu Trivedi, Phin Barnes, Alexis Ohanian, Li Jin, Andrew Parker, Ajay Vashee and Cat Lee. Photos: Redpoint Ventures, Shasta Ventures, First Round Capital, Initialized Capital, Dropbox, Maveron.

Venture Capital’s New Guard Goes Solo

By Kate Clark · Aug 28, 2020 7:01am PDT

From left to right: Ryan Sarver, Nikhil Basu Trivedi, Phin Barnes, Alexis Ohanian, Li Jin, Andrew Parker, Ajay Vashee and Cat Lee. Photos: Redpoint Ventures, Shasta Ventures, First Round Capital, Initialized Capital, Dropbox, Maveron.

Venture Capital’s New Guard Goes Solo

By Kate Clark · Aug 28, 2020 7:01am PDT

Ryan Sarver left Redpoint Ventures, the firm behind Netflix and Twilio, in September with the aim of starting his own fund where he could work with a smaller team and have more flexibility to make investment decisions.“I felt like venture was changing enough that I could be a more independent player with a smaller vehicle but still go play... Ryan Sarver left Redpoint Ventures, the firm behind Netflix and Twilio, in September with the aim...

A Walmart store in Lakewood, California. Photo by Bloomberg

TikTok and the Cloud Wars, Amazon’s Store Habit

By Martin Peers · Aug 27, 2020 5:36pm PDT

The jockeying for ownership of TikTok seems to be turning into a subplot in the cloud wars. The unlikely cast of suitors—and almost-suitors—include database giant Oracle, Google (which reportedly considered and decided against a bid) and, of course, Microsoft. These are the same companies that have been waging a bare-knuckled battle... The jockeying for ownership of TikTok seems to be turning into a subplot in the cloud wars. The...

Joe Biden speaking at a primary night rally in Los Angeles on March 3, 2020. Photo: Bloomberg

Would a Biden Administration Disappoint Foes of Big Tech?

By Christopher Stern · Aug 27, 2020 11:23am PDT

With a little over two months to go until the presidential election and former Vice President Joe Biden leading in most polls, the tech industry has begun to speculate about whether a Democratic victory would significantly alter Silicon Valley’s beleaguered standing in Washington, D.C. Would a Democratic administration adopt a relatively... With a little over two months to go until the presidential election and former Vice President Joe...

Photo by Bloomberg

Walmart Joined Microsoft’s Bid for TikTok

By Jessica E. Lessin · Aug 27, 2020 8:34am PDT

Microsoft and Walmart jointly bid to acquire TikTok's U.S. business, according to a person involved in the situation.The software giant brought the e-commerce company into the deal to provide a platform to support digital sales on the platform, this person said.The bids were submitted yesterday, with bidders waiting to hear from... Microsoft and Walmart jointly bid to acquire TikTok's U.S. business, according to a person...

Photo-illustration by Mike Sullivan

From Kingmaker to ‘Autocrat’: How Game Makers Went to War With Apple

By Nick Wingfield and Alex Heath · Aug 27, 2020 7:01am PDT

Photo-illustration by Mike Sullivan

From Kingmaker to ‘Autocrat’: How Game Makers Went to War With Apple

By Nick Wingfield and Alex Heath · Aug 27, 2020 7:01am PDT

For a decade, Apple executives showed Epic Games the kind of love they reserve for only a precious few software developers. In 2010, Steve Jobs, then Apple’s CEO, praised a new Epic sword-fighting game for iPhones as “pretty remarkable” at an Apple event, before inviting executives from the company to demonstrate it onstage. In... For a decade, Apple executives showed Epic Games the kind of love they reserve for only a...

Tim Cook, Masayoshi Son and Brian Chesky. Photos: Bloomberg

Facebook’s Apple Problem, SoftBank’s TikTok Interest, Airbnb’s Price Tag

By Martin Peers · Aug 26, 2020 6:46pm PDT

Late summer seems to ring in a fight between Apple and Facebook ahead of the iPhone maker’s fall update to its mobile operating system. Driving both to the mat this time: a change in iOS 14 that will ask users if they want their information shared with other apps for advertising purposes. Analysts expect most consumers to say no. The... Late summer seems to ring in a fight between Apple and Facebook ahead of the iPhone maker’s...

SoftBank founder Masayoshi Son. Photo: Bloomberg

SoftBank Eyes Joining Deal for TikTok

By Jessica E. Lessin · Aug 26, 2020 10:20am PDT

As President Donald Trump’s September deadline for TikTok to sell its U.S. business approaches, investors are scrambling to assess or participate in a deal. One party that has recently emerged as a possible buyer: SoftBank. It seemed unlikely that SoftBank, one of the most ambitious and deeply pocketed private tech investors through... As President Donald Trump’s September deadline for TikTok to sell its U.S. business...

Airbnb’s headquarters in San Francisco. Photo: Airbnb

Why Airbnb’s IPO Should Clear $30 Billion

By Cory Weinberg · Aug 26, 2020 7:02am PDT

Nothing would better epitomize the stock market’s strange surge in 2020 than a blockbuster initial public offering from a travel company whose business was bludgeoned by the pandemic. But that is exactly what looks likely for Airbnb. The Silicon Valley darling is a good bet to secure at least a $30 billion valuation when it goes... Nothing would better epitomize the stock market’s strange surge in 2020 than a blockbuster...

A view of San Francisco in July, 2020. Venture capitalist Marc Andreessen is encouraging founders to set up companies in the San Francisco area. Photo: Bloomberg

Andreessen’s Call, a Best Buy Bonanza, Palantir’s Big Reveal

By Martin Peers · Aug 25, 2020 6:11pm PDT

A view of San Francisco in July, 2020. Venture capitalist Marc Andreessen is encouraging founders to set up companies in the San Francisco area. Photo: Bloomberg

Andreessen’s Call, a Best Buy Bonanza, Palantir’s Big Reveal

By Martin Peers · Aug 25, 2020 6:11pm PDT

Y Combinator, which trains and invests in startup founders, has been intent on expanding the geographic diversity of the companies it includes in its twice-yearly accelerator program. But this summer’s group of participants was particularly far flung. One co-founder who spoke to Kate for her story on Michael Seibel, CEO of YC’s... Y Combinator, which trains and invests in startup founders, has been intent on expanding the...

Michael Seibel. Photo: Y Combinator

Y Combinator CEO Faces the Crisis and His Critics

By Kate Clark · Aug 25, 2020 7:00am PDT · 2 comments

Y Combinator has won acclaim for a twice-yearly training program that produced Silicon Valley crown jewels such as Stripe and Airbnb. But for the first time since the startup accelerator’s inception in 2005, all 220 participants had to dial in remotely, threatening a valuable component of YC—its ability to help founders forge... Y Combinator has won acclaim for a twice-yearly training program that produced Silicon Valley...

Facebook's Mark Zuckerberg testifying remotely at a House Judiciary Subcommittee hearing in July. Photo by Bloomberg

Zuckerberg Talks TikTok in D.C.: The Information’s Tech Briefing

By Martin Peers · Aug 24, 2020 5:55pm PDT

For some time, Facebook CEO Mark Zuckerberg has raised red flags about the threat he believes Chinese tech services like TikTok pose to free speech. What, then, was Zuckerberg after when he brought up his concerns about Chinese internet companies and TikTok in meetings last year with President Trump and lawmakers?What he didn’t ask for was... For some time, Facebook CEO Mark Zuckerberg has raised red flags about the threat he believes...

Amazon’s Massive Spike in Delivery Stations Poses Threat to USPS

By Paris Martineau · Aug 24, 2020 12:10pm PDT · 2 comments

Amazon has carried out an unprecedented physical expansion during the coronavirus pandemic as homebound consumers have sought to have supplies delivered to their doorstep. While its hundreds of vast suburban fulfillment centers still make up the largest chunk of its physical footprint in the U.S., openings of smaller facilities—delivery... Amazon has carried out an unprecedented physical expansion during the coronavirus pandemic as...

Illustration by B. Didier

The Information’s SPAC Target List

By Ross Matican · Aug 24, 2020 7:00am PDT

Illustration by B. Didier

The Information’s SPAC Target List

By Ross Matican · Aug 24, 2020 7:00am PDT

When electric vehicle startup Canoo announced it would merge with Hennessy Capital Acquisition Corporation last week, it was the latest example of an increasingly common trend in private tech: going public via a special purpose acquisition company, a cash-rich empty shell of a company whose only purpose is to acquire a business.An explosion of... When electric vehicle startup Canoo announced it would merge with Hennessy Capital Acquisition...

The Mistake I Made About Apple’s and Google’s Businesses

By Jessica E. Lessin · Aug 22, 2020 7:47am PDT · 1 comment

One of my most vivid memories from my eight years at The Wall Street Journal was sitting with my boss talking about the future of Google. I had just taken over the beat, and my editor was trying to map out for me how to cover the most important internet company at the time (and arguably now). “If you just remember one theme,... One of my most vivid memories from my eight years at The Wall Street Journal was sitting with my...

Palantir CEO Alexander Karp. Photo by Bloomberg

Palantir’s Direct Listing Lockup: The Information’s Tech Briefing

By Martin Peers · Aug 21, 2020 6:01pm PDT · 1 comment

One of the big appeals of direct listings, when companies go public simply by listing their existing shares rather than by selling new shares, is that they allow investors and employees to sell their shares immediately. Palantir, which plans to lock up about 80% of its investors’ shares despite having a direct listing, just undercut that... One of the big appeals of direct listings, when companies go public simply by listing their...

The Information’s 411 — Airbnb Fights the Right to Party

By Tom Dotan · Aug 21, 2020 2:25pm PDT

Cory talks about the rise of parties at Airbnb rentals and how it's poised to be a huge headache for the company as it heads down the path of going public. Cory talks about the rise of parties at Airbnb rentals and how it's poised to be a huge...

Photo by Bloomberg

Palantir Plans Lockup for Direct Listing, Breaking With Convention

By Cory Weinberg · Aug 21, 2020 10:31am PDT

Photo by Bloomberg

Palantir Plans Lockup for Direct Listing, Breaking With Convention

By Cory Weinberg · Aug 21, 2020 10:31am PDT

Palantir Technologies is planning an unusual feature for its direct listing next month: a partial lockup.The data analysis software firm told investors that they would have to hold onto most of their shares for several months after the company lists its stock publicly, two people familiar with the matter said. Investors would still be able to... Palantir Technologies is planning an unusual feature for its direct listing next month: a partial...