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

Apple's Tim Cook and Amazon's Jeff Bezos. Photo by Bloomberg

The Strategic Difference Between Apple and Amazon

By Nick Wingfield · Nov 14, 2020 7:46am PST

Several unrelated events this week got me thinking about Apple and Amazon and their different approaches to an age-old business strategy—vertical integration, which brings different stages of production and distribution of products under the control of one company. It’s worth considering whether those differences could create... Several unrelated events this week got me thinking about Apple and Amazon and their different...

DoorDash CEO Tony Xu. Photo by Bloomberg

DoorDash’s IPO Moves Step Closer: The Information’s Tech Briefing

By Martin Peers · Nov 13, 2020 5:32pm PST

DoorDash’s IPO filing on Friday painted a portrait of a company long underappreciated now coming into its own. The filing sets the scene for what should be a heavily sought-after IPO in a few weeks’ time, probably occurring around the same time as Airbnb’s offering, of which we expect to hear more details in the next few days.... DoorDash’s IPO filing on Friday painted a portrait of a company long underappreciated now...

The Information’s 411 — 500 Middle Miles

By Tom Dotan · Nov 13, 2020 4:24pm PST

Paris explores Amazon’s plan to own more parts of the delivery process by building out its trucking fleets. Wayne talks about Apple’s fraying relationship with manufacturer Foxconn. Paris explores Amazon’s plan to own more parts of the delivery process by building out its...

The Information's Jessica Lessin talking with Joanna Coles at The Information's WTF event in 2019. Photo by Karen Obrist

SPACs Have “Come of Age,” Says Joanna Coles

By Ross Matican · Nov 13, 2020 1:56pm PST

The Information's Jessica Lessin talking with Joanna Coles at The Information's WTF event in 2019. Photo by Karen Obrist

SPACs Have “Come of Age,” Says Joanna Coles

By Ross Matican · Nov 13, 2020 1:56pm PST

It’s cheaper and more efficient for companies to go public by merging with a special purpose acquisition company than to do so by pursuing a traditional initial public offering, said Joanna Coles, former chief content officer at Hearst. She’s one of a myriad of seasoned executives entering 2020’s booming SPAC market. ... It’s cheaper and more efficient for companies to go public by merging with a special...

The NYSE's vice chairman, John Tuttle. Photo by Bloomberg

As SPACs Evolve, So Does Their Investor Base

By Ross Matican · Nov 13, 2020 1:04pm PST

Until this year, one of the factors holding back special purpose acquisition companies was that many institutional investors didn’t buy into them. Hedge funds dominated SPAC share purchases. But that is changing, according to several Wall Street executives. The SPAC market is “a much more diverse market with a lot more participation... Until this year, one of the factors holding back special purpose acquisition companies was that...

Airbnb CEO Brian Chesky. Photo by Bloomberg

10 Questions Airbnb’s IPO Investors Should Ask

By Cory Weinberg · Nov 13, 2020 6:00am PST · 1 comment

Airbnb is planning to go public next month with the wind against its back. Promising news about a Covid-19 vaccine this week has sent travel stocks soaring. Investor demand for initial public offerings is likely to remain high, particularly for a household name like Airbnb. Of course, those good vibes could dissipate quickly if people focus more... Airbnb is planning to go public next month with the wind against its back. Promising news about a...

President Trump. Photo by Bloomberg

TikTok Drama Winding Down: The Information’s Tech Briefing

By Martin Peers · Nov 12, 2020 5:00pm PST

The first season of the TikTok drama just concluded. That’s one interpretation from the Commerce Department’s decision, reported in the Wall Street Journal, to not enforce a ban that would have prevented Apple and Google from making TikTok available in their app stores. Now the question is whether the saga comes back for a second... The first season of the TikTok drama just concluded. That’s one interpretation from the...

Image by Popshop Live

Benchmark Wins Deal for Live-Shopping App Popshop at $100 Million Valuation

By Kate Clark and Alex Heath · Nov 12, 2020 10:38am PST · 1 comment

Image by Popshop Live

Benchmark Wins Deal for Live-Shopping App Popshop at $100 Million Valuation

By Kate Clark and Alex Heath · Nov 12, 2020 10:38am PST · 1 comment

Silicon Valley’s top venture capital funds have faced off again for an equity stake in a nascent social media app. This time it’s Popshop Live, a livestreaming app that enables individuals and businesses to sell products such as comic books and DIY crafts directly to customers. The Los Angeles–based startup has raised Series A... Silicon Valley’s top venture capital funds have faced off again for an equity stake in a...

A DoorDash delivery person in Washington D.C. Photo by Bloomberg

Ten Questions for DoorDash’s IPO Investors to Ask

By Amir Efrati · Nov 12, 2020 7:33am PST

DoorDash is a household name that is about to go public, but it has received scant coverage in the U.S. business press compared to another soon-to-go-public firm based in San Francisco—Airbnb. And after years of heavy losses across the food-delivery industry, the prevailing wisdom is that such businesses aren’t a very good bet. That... DoorDash is a household name that is about to go public, but it has received scant coverage in...

Illustration by Mike Sullivan

Stripe, Mozilla, Others Form Tech ‘Challenger Group’ to Sway European Policy

By Mark Di Stefano · Nov 12, 2020 6:00am PST

A few years back, two Brussels-based lobbyists from midsize tech companies were out for drinks, and in the course of the conversation they realized they had a common problem. Google, Amazon, Apple and Facebook were sucking all of the oxygen out of European debates about regulating the internet, leaving out the voices of smaller... A few years back, two Brussels-based lobbyists from midsize tech companies were out for drinks,...

SoftBank CEO Masayoshi Son. Photo by Bloomberg

SoftBank’s $20 Billion Tech Stock Portfolio: The Information’s Tech Briefing

By Martin Peers · Nov 11, 2020 5:30pm PST

SoftBank is expanding its investor presence in the tech world. In addition to playing a major role as a backer of startups through its Vision Fund, the Japanese investment firm is now playing the market—by buying major tech stocks. The firm’s profit report for the six months to Sept. 30 on Wednesday gave new details about its public... SoftBank is expanding its investor presence in the tech world. In addition to playing a major...

Art by Sam Lessin

The Societal Problem of Only Needing 1,000 True Fans to Be Successful Online

By Sam Lessin · Nov 11, 2020 9:00am PST · 14 comments

Art by Sam Lessin

Modest Proposals

The Societal Problem of Only Needing 1,000 True Fans to Be Successful Online

By Sam Lessin · Nov 11, 2020 9:00am PST · 14 comments

When the internet was young, one of its most exciting aspects was that it helped people connect with like-minded individuals, developing communities of niche interests that drab suburbia and mass culture could not support. Today, we find ourselves facing the opposite problem. On the positive side, the internet has allowed people to find their... When the internet was young, one of its most exciting aspects was that it helped people connect...

A pedestrian walks past an Apple retail store in Shenzhen. In recent months, Apple has resumed sending some U.S. employees to China to meet with its manufacturing partners. Photo: Associated Press

Apple’s U.S. Staff Return to China, Encouraged by Cash Bonuses

By Nick Bastone and Wayne Ma · Nov 11, 2020 6:00am PST

A longstanding corporate road warrior is returning to China: the Apple employee. In recent months, Apple has resumed flying U.S. employees to China to work with the manufacturers that make most of its iPhones, Macs and iPads, according to seven current and former Apple employees and people working for its partners. These voluntary visits, which... A longstanding corporate road warrior is returning to China: the Apple employee. In recent...

Amazon CEO Jeff Bezos appearing before a congressional committee in late July. Photo by Bloomberg

Amazon’s Turn in Antitrust Dock: The Information’s Tech Briefing

By Martin Peers · Nov 10, 2020 5:30pm PST

Europe’s filing of antitrust charges against Amazon marks the second, long-anticipated move in the U.S.-European antitrust assault on big tech. In the U.S., a Federal Trade Commission case against Facebook looms, to add to the lawsuit the Justice Department filed against Google a few weeks ago. The FTC is also investigating Amazon in the... Europe’s filing of antitrust charges against Amazon marks the second, long-anticipated move...

Art by Mike Sullivan

What Proposition 22 Now Makes Possible

By Shawn Carolan · Nov 10, 2020 10:23am PST · 4 comments

Since gig work first emerged, we’ve needed a new classification for workers who don’t strictly fit the categories of either employees or independent contractors. Proposition 22, the referendum passed by California voters last week, opens up this option for people working for ride-hailing and delivery apps—and shows a way... Since gig work first emerged, we’ve needed a new classification for workers who don’t...

Image by Shutterstock. Illustration by Mike Sullivan

Inside Amazon’s Trucking Ambitions

By Paris Martineau · Nov 10, 2020 6:01am PST · 2 comments

Image by Shutterstock. Illustration by Mike Sullivan

Inside Amazon’s Trucking Ambitions

By Paris Martineau · Nov 10, 2020 6:01am PST · 2 comments

In recent years, Amazon has attracted wide attention with its effort to become a force in last-mile delivery, from its now ubiquitous delivery vans bearing the company’s smiley-face arrow logo to its experiments with drones. But the e-commerce giant is also quietly becoming a force in a less visible area: the trucking of goods between... In recent years, Amazon has attracted wide attention with its effort to become a force in...

The New York Stock Exchange. Photo by AP

Zoom Gets Hits by Wall Street’s Vaccine Rally: The Information’s Tech Briefing

By Martin Peers · Nov 9, 2020 5:31pm PST

No, Covid has not been cured. But a vaccine that works may be the next best thing, which is certainly the stock market’s interpretation of Monday’s vaccine news from Pfizer. The Dow Jones Industrial Average rose 973 points or 3.4% by the close. Notably, though, the reaction from tech stocks was very mixed. Stocks that had rallied... No, Covid has not been cured. But a vaccine that works may be the next best thing, which is...

Illustration by Jesus Escudero

How SPAC-Offs Can Sweeten Merger Deals

By Ross Matican · Nov 9, 2020 6:01am PST

When Porch.com, a marketplace for freelance handypeople, late last year was considering whether to go public via a merger with a SPAC, it heard from two special purpose acquisition companies interested in doing a deal. But when Clover Health, a tech-enabled Medicare firm, contemplated the concept in the past few months, it heard from 12 SPACs... When Porch.com, a marketplace for freelance handypeople, late last year was considering whether...

Photo: AP

What Biden’s Victory Means for Tech

By Christopher Stern · Nov 7, 2020 8:57am PST

Even before Joe Biden secured victory in the presidential election, his staff was reaching out to tech industry advocates and executives, seeking their input on how his administration should reshape internet and telecommunications policies, said a person involved in the conversations and another who was briefed about them. The outreach from the... Even before Joe Biden secured victory in the presidential election, his staff was reaching out to...

What 2020 Still Has in Store for Tech

By Jessica E. Lessin · Nov 7, 2020 8:01am PST · 1 comment

What 2020 Still Has in Store for Tech

By Jessica E. Lessin · Nov 7, 2020 8:01am PST · 1 comment

While the U.S. presidential election is over (sort of), 2020 is not. And assuming that many of you spent the last few days, weeks and, perhaps, months engrossed in Biden vs. Trump, I wanted to remind you of what lies ahead. There is the race for the Covid-19 vaccine, of course. (You probably didn’t forget about that.) As for pure tech... While the U.S. presidential election is over (sort of), 2020 is not. And assuming that many of...