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

A TikTok sign at a ByteDance event in Tokyo last year. Photo by Bloomberg

TikTok’s U.S. Revenues Expected to Hit $500 Million This Year

By Yunan Zhang and Tom Dotan · Jun 17, 2020 7:02am PDT · 1 comment

TikTok has taken off like a rocket ship in the U.S. and around the world, creating a new mobile video experience that has left YouTube and Facebook scrambling to keep up. Now, under a new CEO, former Disney executive Kevin Mayer, the Chinese-owned social app hopes to turn that growth into billions in revenues. Mayer could look to the success of... TikTok has taken off like a rocket ship in the U.S. and around the world, creating a new mobile...

An aerial shot of Menlo Park in Silicon Valley. Photo by Bloomberg

How Lockdowns Changed Venture Capital: The Information’s Tech Briefing

By Martin Peers · Jun 16, 2020 5:46pm PDT

One of the good things that may come out of the pandemic lockdown is an increase in venture investment in startups outside Silicon Valley. That’s one takeaway from our story today about how some VCs have bowed to the inevitable and made investments in founders after having met them only on Zoom.With face-to-face meetings on hold, founders... One of the good things that may come out of the pandemic lockdown is an increase in venture...

Aydin Senkut. Credit: Felicis Ventures

Can You Invest Over Zoom? Venture Capitalists Are Split

By Kate Clark · Jun 16, 2020 7:02am PDT · 3 comments

For weeks, Race Capital general partner Alfred Chuang had been pursuing an investment in a startup he thought was headquartered in the San Francisco Bay Area. Then, over a series of video chats, he realized it had relocated to Toronto. He’s still interested. “The whole work-from-home thing makes the border go away,” said... For weeks, Race Capital general partner Alfred Chuang had been pursuing an investment in a...

eBay's Silicon Valley headquarters. Photo by AP

eBay’s Cyberstalking Drama: The Information’s Tech Briefing

By Martin Peers · Jun 15, 2020 5:07pm PDT

eBay's Silicon Valley headquarters. Photo by AP

eBay’s Cyberstalking Drama: The Information’s Tech Briefing

By Martin Peers · Jun 15, 2020 5:07pm PDT

Auction site eBay has gone through some fascinating corporate drama lately, including a power struggle on its board involving activist investor Elliott and the departure of CEO Devin Wenig last year. But nothing can compare to the extraordinary allegations made by the Justice Department in a cyberstalking case filed on Monday against former... Auction site eBay has gone through some fascinating corporate drama lately, including a power...

Acronym's Tatenda Musapatike. Photo by Acronym

Tech Took On Voter Turnout. It’s Still Working On It

By Cory Weinberg · Jun 15, 2020 10:16am PDT · 7 comments

Matt Mahan launched a startup called Brigade in 2014 with the aim of encouraging young, smartphone-obsessed Americans to turn out for elections. Backed by high-profile investors including Facebook’s first president, Sean Parker, and Salesforce CEO Marc Benioff, Mahan hired scores of software engineers and political veterans. Their job was... Matt Mahan launched a startup called Brigade in 2014 with the aim of encouraging young,...

Amazon Web Services CEO Andy Jassy. Photo by Bloomberg

Amazon Hires From Rivals but Sues Those Who Defect

By Kevin McLaughlin · Jun 15, 2020 7:01am PDT · 3 comments

Last week, Amazon sent a stark message to highly paid employees thinking about leaving the company for a rival: Do so and we might sue. But Amazon is only too happy to hire away employees from those same rivals. In recent years, Amazon has poached prominent people from Microsoft, Google, VMware and other companies, and those competitors... Last week, Amazon sent a stark message to highly paid employees thinking about leaving the...

Apple CEO Tim Cook. Photo by Bloomberg

The Case Against Apple

By Nick Wingfield · Jun 13, 2020 7:46am PDT · 1 comment

In early 2017, the Yale Law Journal published a paper entitled “Amazon’s Antitrust Paradox” written by a then-unknown law student at the university, Lina Khan. The paper’s novel analysis of Amazon’s effect on competition—which went against the grain of conventional views about antitrust enforcement—... In early 2017, the Yale Law Journal published a paper entitled “Amazon’s Antitrust...

Google Pay on a smartphone. Photo by AP

Google’s Well-Timed Digital Pay Advance: The Information’s Tech Briefing

By Martin Peers · Jun 12, 2020 6:02pm PDT

Google Pay on a smartphone. Photo by AP

Google’s Well-Timed Digital Pay Advance: The Information’s Tech Briefing

By Martin Peers · Jun 12, 2020 6:02pm PDT

For those betting on which technologies would emerge from the pandemic stronger than before, contactless payments seemed like a safe one. For years, most Americans ignored features from Apple, Samsung and Google that let users hold their phones near checkout-stand readers to pay. A nation of borrowers found reaching for the physical credit card... For those betting on which technologies would emerge from the pandemic stronger than before,...

The Information’s 411 — iRobot

By Tom Dotan · Jun 12, 2020 2:26pm PDT

We talk to Wayne Ma about Apple's attempts to have robots handle the manufacturing process at their factories and why it hasn't worked. Then we speak with Kate Clark about the federal paycheck protection program loan and the startups that took advantage of it. Special guests this episode include David Bourne, a scientist at the... We talk to Wayne Ma about Apple's attempts to have robots handle the manufacturing process...

Google's digital wallet displayed on a smartphone screen. Photo by Bloomberg.

Google Plans to Expand Google Pay Into Commerce Portal

By Juro Osawa and Nick Bastone · Jun 12, 2020 10:27am PDT · 2 comments

Google is working on a major overhaul of its payment app, Google Pay, in hopes of jump-starting its use in the U.S. Google Pay plans this year to let online and brick-and-mortar merchants set up their own branded buttons inside the U.S. version of the app, potentially turning it into a one-stop portal for commerce, say two people familiar with... Google is working on a major overhaul of its payment app, Google Pay, in hopes of jump-starting...

Art by Mike Sullivan

How to Find a New Job During the Pandemic

By Laura Mandaro · Jun 12, 2020 7:01am PDT

In just under six weeks this spring, Alexandra Garner was laid off, looked for a job, landed a new offer and started a position at e-commerce startup Fast, all while rarely leaving home. “I never thought I’d find my dream job in the middle of a pandemic,” said Garner, who had been working as a sales representative at... In just under six weeks this spring, Alexandra Garner was laid off, looked for a job, landed a...

A DoorDash delivery person picking up an order in Washington D.C. Photo by Bloomberg.

Instacart, DoorDash Raise Money: The Information’s Tech Briefing

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

A DoorDash delivery person picking up an order in Washington D.C. Photo by Bloomberg.

Instacart, DoorDash Raise Money: The Information’s Tech Briefing

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

What goes up must come down. After the common sense-defying rally of recent weeks, a sell-off was overdue. But the size of the fall—the S&P 500 dropped nearly 6%, while the Nasdaq lost more than 5%—was still surprising. It’s a reminder of just how volatile stocks are likely to remain while the threat of the virus... What goes up must come down. After the common sense-defying rally of recent weeks, a sell-off was...

Actress Brenda Blethyn during filming of the police drama "Vera," one of BritBox's popular shows. Photo by AP

Pandemic Lifts Niche Video Services Overshadowed by Big Outlets

By Jessica Toonkel · Jun 11, 2020 11:02am PDT

The pandemic has turned out to be a rising tide that is lifting all video-streaming boats, not just the big ships like Netflix.Several niche video services, including Spanish-focused Pantaya, British-focused BritBox and MHz Choice, which streams international mysteries and dramas, all say their subscriber growth rate has roughly doubled since... The pandemic has turned out to be a rising tide that is lifting all video-streaming boats, not...

Nicole Gibbons, founder of Clare. Photo by Eric Masters

As Silicon Valley Turns Attention to Race, Black Entrepreneurs Detail Prejudice

By Zoë Bernard and Kate Clark · Jun 11, 2020 7:31am PDT · 5 comments

When Matt Joseph was raising money a few years ago for a startup he founded, Locent, a venture capitalist asked Joseph, who is black, if he had considered creating a record label instead of a tech company. In a different pitch meeting, a group of investors told Joseph he reminded them of Barack Obama and suggested he get into... When Matt Joseph was raising money a few years ago for a startup he founded, Locent, a venture...

Uber CEO Dara Khosrowshahi. Photo by Bloomberg

Uber Misses Out: The Information’s Tech Briefing

By Martin Peers · Jun 10, 2020 5:18pm PDT

Shareholders in Uber have a reason to be disappointed today, as Uber’s takeover target, Grubhub, decided to join forces instead with a European firm, the aptly named Just Eat Takeaway. Hopes had been high for the past year or so among investors that some of the U.S. food delivery firms would combine, helping everyone lose less money.Alas,... Shareholders in Uber have a reason to be disappointed today, as Uber’s takeover target,...

An Uber Eats delivery person in Japan. Photo by Bloomberg.

Uber Misses Out on Grubhub—But That May Not Be All Bad

By Amir Efrati · Jun 10, 2020 1:36pm PDT · 2 comments

An Uber Eats delivery person in Japan. Photo by Bloomberg.

Uber Misses Out on Grubhub—But That May Not Be All Bad

By Amir Efrati · Jun 10, 2020 1:36pm PDT · 2 comments

The planned merger of U.S. online food-ordering pioneer Grubhub and its European counterpart, Just Eat Takeaway—a deal the companies announced on Wednesday—will disappoint investors in Uber. The ride-hailing and food-delivery giant last month offered to buy Grubhub. But Just Eat is a more suitable partner for Grubhub.Just Eat, like... The planned merger of U.S. online food-ordering pioneer Grubhub and its European counterpart,...

Shari Redstone. Photo by Bloomberg

O’Reilly Show Thrusts ViacomCBS Into Middle of Controversy

By Jessica Toonkel · Jun 10, 2020 11:01am PDT · 1 comment

ViacomCBS’ $340 million purchase of streaming video service Pluto TV two years ago was part of an effort by the aging TV empire to update its business for the digital age. But now Pluto is thrusting ViacomCBS into the middle of an increasingly contentious debate about the nature of content that big entertainment companies should carry.... ViacomCBS’ $340 million purchase of streaming video service Pluto TV two years ago was part...

Kuli Kuli CEO and co-founder Lisa Curtis. Photo: Kuli Kuli Foods

After Chaotic Start, Federal Loan Program Helped Startups Avoid ‘Deep Layoffs’

By Kate Clark · Jun 10, 2020 7:00am PDT · 2 comments

After the coronavirus hit, Kuli Kuli Foods CEO Lisa Curtis and co-founder Jordan Moncharmont cut their salaries by 50% and established “furlough Fridays” for the 13-person staff. It wasn’t enough. Walmart had delayed a rollout of Kuli Kuli’s energy snacks and drinks, and the startup’s sales forecasts dropped by... After the coronavirus hit, Kuli Kuli Foods CEO Lisa Curtis and co-founder Jordan Moncharmont cut...

Facial recognition technology being demonstrated at a conference in China last year. Photo by Bloomberg

A Reckoning on Facial Recognition? The Information’s Tech Briefing

By Martin Peers · Jun 9, 2020 6:16pm PDT

IBM’s decision to stop offering facial recognition technology is likely to amplify calls for other big technology companies—notably, Amazon—to do the same. As IBM CEO Arvind Krishna said in a letter to several members of Congress, Big Blue’s decision reflected concerns about the technology’s potential use as a tool... IBM’s decision to stop offering facial recognition technology is likely to amplify calls...

A Hulu sign at a Disney Expo in Anaheim, Calif., last August. Photo by Bloomberg

Tensions Over Hulu Expose Fissures Within Disney Streaming

By Tom Dotan and Jessica Toonkel · Jun 9, 2020 10:20am PDT · 1 comment

A Hulu sign at a Disney Expo in Anaheim, Calif., last August. Photo by Bloomberg

Tensions Over Hulu Expose Fissures Within Disney Streaming

By Tom Dotan and Jessica Toonkel · Jun 9, 2020 10:20am PDT · 1 comment

For more than a dozen years, Hulu was an oddity in video streaming: owned by a group of entertainment giants but controlled by none of them. That fostered a streak of independence at the service—one that employees, who called themselves Hulugans, were proud of. But that independence ended last year when Disney took control of Hulu and... For more than a dozen years, Hulu was an oddity in video streaming: owned by a group of...