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

Apple CEO Tim Cook during a videoconference congressional committee hearing in late July. Photo by Bloomberg.

Apple’s Thin Olive Branch to Critics: The Information’s Tech Briefing

By Martin Peers · Sep 25, 2020 5:32pm PDT

Talk about a very thin olive branch. Apple’s decision to waive its 30% commission on in-app purchases relating to online events through the end of the year is about the smallest step the iPhone maker could take to calm critics of its App Store policies and particularly the commission it charges. In reality, the move is unlikely to do... Talk about a very thin olive branch. Apple’s decision to waive its 30% commission on in-app...

The Information’s 411 — SPACs: A Love Story

By Cory Weinberg · Sep 25, 2020 1:05pm PDT

It seems like everyone in Silicon Valley is starting a SPAC. Reid Hoffman, Peter Thiel, Kevin Hartz, Chamath Palihapitiya, maybe even your roommate. Reporters Cory Weinberg and Ross Matican trace the origins of the SPAC surge. We explain why these special-purpose acquisition companies have become so popular, how they got started and what some of... It seems like everyone in Silicon Valley is starting a SPAC. Reid Hoffman, Peter Thiel, Kevin...

Facebook's head of Messenger, Stan Chudnovsky. Photo courtesy of Facebook.

Facebook Opens New Fight With Apple Over Messaging

By Alex Heath · Sep 25, 2020 8:02am PDT

Facebook executives have sharply ramped up their criticism of Apple in recent months, contesting the iPhone maker’s restrictions on gaming apps and ad targeting, as well as its cut of in-app purchases. Now, emboldened by Apple software changes that suggest it is starting to bend, Facebook wants something else: the option to make its... Facebook executives have sharply ramped up their criticism of Apple in recent months, contesting...

Microsoft headquarters in Redmond, Washington. Photo by Shutterstock.

Microsoft’s Changes to Business Software Terms Could Lift Its Cloud Service and Hurt AWS, Google

By Kevin McLaughlin and Amir Efrati · Sep 25, 2020 6:01am PDT · 1 comment

Microsoft headquarters in Redmond, Washington. Photo by Shutterstock.

Microsoft’s Changes to Business Software Terms Could Lift Its Cloud Service and Hurt AWS, Google

By Kevin McLaughlin and Amir Efrati · Sep 25, 2020 6:01am PDT · 1 comment

A change Microsoft made late last year to the terms of service for Microsoft 365, its cloud-based software that includes Word, PowerPoint and Outlook, could drive some companies that use Amazon Web Services and Google Cloud to Microsoft’s Azure cloud service, analysts said.Under the new terms, which Microsoft disclosed in August last year... A change Microsoft made late last year to the terms of service for Microsoft 365, its cloud-based...

Amazon's new flying video cam, unveiled today. Photo by Amazon

Amazon’s Flying Camera Spotlights Privacy: The Information’s Tech Briefing

By Martin Peers · Sep 24, 2020 5:31pm PDT

Amazon’s unveiling of new Echo and Ring devices today should test just how worried Americans are that tech companies are infringing on their privacy. That’s been a huge concern of parts of the news media in the past couple of years, focused on Facebook in particular. But there has been little evidence that privacy worries were... Amazon’s unveiling of new Echo and Ring devices today should test just how worried...

Viacom CEO Bob Bakish. Photo by Bloomberg

ViacomCBS Probed Sexual Misconduct Allegation Against CEO Bob Bakish

By Jessica Toonkel · Sep 24, 2020 10:47am PDT

ViacomCBS has been investigating an allegation of sexual misconduct by its CEO, Bob Bakish, according to several people familiar with the situation. The investigation comes less than a year after Viacom merged with CBS, whose former CEO Les Moonves resigned after several women accused him of sexual harassment and intimidation, including forcibly... ViacomCBS has been investigating an allegation of sexual misconduct by its CEO, Bob Bakish,...

Amazon's Staten Island, N.Y. warehouse. Photo by Bloomberg

Amazon Quietly Expands Large-Scale Covid Testing Program for Warehouses

By Paris Martineau · Sep 24, 2020 6:00am PDT · 1 comment

After months of trials, Amazon’s program to test its warehouse workers for Covid-19 is ramping up.The e-commerce giant is now testing warehouse workers in at least 23 states for Covid using its own federally certified laboratories to process samples, The Information has learned. It’s part of a secretive Amazon initiative called... After months of trials, Amazon’s program to test its warehouse workers for Covid-19 is...

Rocket Companies' signage on the headquarters of its Quicken Loans building in Detroit the day Rocket went public last month. Photo by Bloomberg

Better.com’s Valuation Hopes Reflect Fintech Boom: The Information’s Tech Briefing

By Martin Peers · Sep 23, 2020 5:30pm PDT

Rocket Companies' signage on the headquarters of its Quicken Loans building in Detroit the day Rocket went public last month. Photo by Bloomberg

Better.com’s Valuation Hopes Reflect Fintech Boom: The Information’s Tech Briefing

By Martin Peers · Sep 23, 2020 5:30pm PDT

There’s something of a boom going on in finance tech startups, you may have noticed. Our scoop today about Better.com, the online mortgage lender, looking to raise money at a valuation of $4 billion—several times where it was last valued—highlights the trend. In the past week other startups in the consumer finance... There’s something of a boom going on in finance tech startups, you may have noticed. Our...

Better.com founder Vishal Garg. Image: Better.com

Better.com Seeks to Ride Refinancing Wave to a $4 Billion Valuation

By Cory Weinberg · Sep 23, 2020 12:31pm PDT

Low interest rates have prompted a record number of Americans to refinance their homes this spring. An online mortgage loan startup that has seen strong growth from the borrowing surge is now seeking new financing at a sharply higher valuation than at its last influx of cash a year ago.Better.com is nearing a deal to raise more than $100 million... Low interest rates have prompted a record number of Americans to refinance their homes this...

LionTree's Aryeh Bourkoff. Photo by Bloomberg.

Bourkoff Is Star Media Dealmaker, but Can He Make Shift to Tech?

By Jessica Toonkel · Sep 23, 2020 6:01am PDT · 3 comments

Aryeh Bourkoff hates wasting time. Rather than checking his overcoat when he goes out to lunch during New York’s frigid winters, the investment banker sometimes asks his assistant to walk with him to the restaurant so she can take his coat with her back to the office. When it is time for him to leave, he summons her to bring it back, say... Aryeh Bourkoff hates wasting time. Rather than checking his overcoat when he goes out to lunch...

Oracle headquarters. Credit: Bloomberg

Is Oracle Biting Off More TikTok Than It Can Chew?

By Alex Heath · Sep 22, 2020 8:30pm PDT · 3 comments

New details about a way Oracle envisions managing TikTok user data and rewriting the app, and how TikTok’s technology actually operates, underscore how hard it could be for Oracle to separate the app from its Chinese owner.At the same time, Oracle has held preliminary discussions with the U.K. government about protecting TikTok’s... New details about a way Oracle envisions managing TikTok user data and rewriting the app, and how...

Attorney-General William Barr. Photo by Bloomberg

Google’s Antitrust Battle Looms: The Information’s Tech Briefing

By Martin Peers · Sep 22, 2020 5:31pm PDT

Attorney-General William Barr. Photo by Bloomberg

Google’s Antitrust Battle Looms: The Information’s Tech Briefing

By Martin Peers · Sep 22, 2020 5:31pm PDT

If you haven’t boned up on antitrust law, now’s the time. Multiple news reports in the past day or so suggest the Justice Department will file its much-anticipated case against Alphabet in the next week, kicking off what is likely to be the first of several cases against big tech in the coming months.According to the New York Times... If you haven’t boned up on antitrust law, now’s the time. Multiple news reports in...

Photo by Bloomberg

Ride High as The Information’s Reporter on Uber, Waymo, Tesla Autopilot

By The Information Staff · Sep 22, 2020 10:59am PDT

The Information is seeking a reporter to cover Uber and the broader “gig” economy industry as well as the self-driving car developers trying to automate it. This position has produced award-winning journalism in each of the past three years. The role traverses ride-hailing and food delivery companies such as DoorDash,... The Information is seeking a reporter to cover Uber and the broader “gig” economy...

Airbnb Rental Supply Fell This Summer for First Time

By Cory Weinberg · Sep 22, 2020 6:01am PDT

With a successful pivot to close-to-home travel, Airbnb has managed to defy early predictions that the coronavirus pandemic would doom its business. But previously undisclosed figures nevertheless show the toll the crisis has taken on the home rental site. Airbnb had about 5% fewer listings on its site that were available or rented in July... With a successful pivot to close-to-home travel, Airbnb has managed to defy early predictions...

ByteDance CEO Zhang Yiming. Photo by Bloomberg

Trump Puts TikTok Deal in Doubt: The Information’s Tech Briefing

By Martin Peers · Sep 21, 2020 5:31pm PDT

It’s rare to see M&A end up in complete confusion, as the TikTok deal now seems to be, but then again, it’s rare for M&A to be driven by President Trump. His comments to Fox News Monday morning that TikTok would be “totally controlled by Oracle...and if we find that they don’t have total control then we’re... It’s rare to see M&A end up in complete confusion, as the TikTok deal now seems to be,...

Illustration by J. Claeys

Tech Execs Are Obsessing Over Note-Taking Apps. We Tested Them Out

By The Information Staff · Sep 21, 2020 11:01am PDT · 13 comments

Illustration by J. Claeys

Tech Execs Are Obsessing Over Note-Taking Apps. We Tested Them Out

By The Information Staff · Sep 21, 2020 11:01am PDT · 13 comments

Investors are newly enamored of note-taking apps, financing startups like Notion Labs, Coda and Roam Research at high valuations. Some of the recent buzz stems from a legion of tech and finance superusers. They claim these apps are making them more creative and productive, qualities that can feel in short supply during long days of remote work.... Investors are newly enamored of note-taking apps, financing startups like Notion Labs, Coda and...

From left: Rodney Williams, Dan Shapiro, Sarah Bird, Anneka Gupta and Glenn Kelman. Photo illustration by Mike Sullivan

Politics Create High-Wire Act for Tech CEOs

By Zoë Bernard · Sep 21, 2020 6:01am PDT · 1 comment

In June, after protests against the police killing of George Floyd swept the country, Glenn Kelman, CEO of online real estate brokerage Redfin, wrote an email to his customers in which he committed to doing more to help Black customers find homes in neighborhoods they’ve traditionally been shut out of. Angry Redfin customers flooded the... In June, after protests against the police killing of George Floyd swept the country, Glenn...

TikTok Valued at Around $60 Billion, As Deal Structure Emerges

By Kate Clark, Kevin McLaughlin and Jessica E. Lessin · Sep 20, 2020 2:39pm PDT

Walmart and Oracle are valuing the soon-to-be formed TikTok Global at between $50 billion and $60 billion, according to two people familiar with the deal, as key aspects of one of the most convoluted global tech deals in history take shape. Another key point: Zhang Yiming, the CEO of ByteDance, parent company of the China-based viral video... Walmart and Oracle are valuing the soon-to-be formed TikTok Global at between $50 billion and $60...

Illustration by Mike Sullivan.

Accepting Kickbacks, Publishers Are Playing Into Tech Companies’ Hands

By Jessica E. Lessin · Sep 19, 2020 8:00am PDT · 5 comments

For years, news publishers have been clamoring for Facebook, Google and Apple to pay for the news content that gets distributed through their services. Well, they have gotten what they wished for—sort of. And it’s troubling news. For years, news publishers have been clamoring for Facebook, Google and Apple to pay for the news...

President Trump at a news conference on Friday. Photo by Bloomberg

What TikTok Ban Means for Google, Facebook, Apple: The Information’s Tech Briefing

By Martin Peers · Sep 18, 2020 6:02pm PDT

President Trump at a news conference on Friday. Photo by Bloomberg

What TikTok Ban Means for Google, Facebook, Apple: The Information’s Tech Briefing

By Martin Peers · Sep 18, 2020 6:02pm PDT

The Trump administration’s order to ban new downloads of TikTok and WeChat has raised an important question for the likes of Apple, Google, Facebook, Amazon and Netflix: Should they file a legal challenge to the order?Banning foreign-owned apps has near-term implications for Apple, which faces the prospect that iPhone owners who rely on... The Trump administration’s order to ban new downloads of TikTok and WeChat has raised an...