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

Richard Yu, chief executive of Huawei's consumer business, on stage last September when Huawei unveiled its Mate 30 smartphone. Photo by Bloomberg

Huawei Projects Big Drop in Smartphone Sales Amid U.S. Sanctions

By Juro Osawa · Mar 6, 2020 7:02am PST

Huawei is projecting that its annual smartphone shipments will fall around 20% this year, in what would be its first year-on-year decline, as a result of U.S. sanctions on its business. The rapidly spreading coronavirus, which has hurt manufacturing and retail sectors in China, could worsen that outlook.Huawei shared its internal projection for... Huawei is projecting that its annual smartphone shipments will fall around 20% this year, in what...

The Hustle Fund investing team. Photo by Hustle Fund

VCs Brace for Fundraising Delays Amid Outbreak

By Kate Clark · Mar 5, 2020 2:03pm PST

For venture capitalist James Wang, the spread of the coronavirus in mainland China last month came at an inopportune time—as he was raising money in Asia for a new investment fund. After signing up a Taiwanese sovereign wealth fund as an investor in the fund, he canceled the Hong Kong leg of his trip and returned to the U.S. because of... For venture capitalist James Wang, the spread of the coronavirus in mainland China last month...

An employee at a Foxconn factory in India. Photo by Bloomberg.

Inside Apple’s Search for an Indian Supply Chain

By Wayne Ma · Mar 5, 2020 7:01am PST · 5 comments

Several years ago, employees at Apple investigated whether components for the iPhone could be made in India. The results weren’t encouraging. While the employees found some companies that could make power adapters or packaging, none could make phone speakers, headphones or small mechanical parts. Many Indian suppliers weren’t... Several years ago, employees at Apple investigated whether components for the iPhone could be...

Facebook's David Marcus testifying at House Financial Services Committee meeting on Libra last year. Photo by Bloomberg

Four Key Takeaways From Facebook’s Shift on Libra

By Alex Heath · Mar 4, 2020 4:19pm PST

Facebook's David Marcus testifying at House Financial Services Committee meeting on Libra last year. Photo by Bloomberg

Four Key Takeaways From Facebook’s Shift on Libra

By Alex Heath · Mar 4, 2020 4:19pm PST

Facebook is planning some big changes to its Libra cryptocurrency project. On Tuesday, The Information reported that Facebook and the Libra Association—the independent organization Facebook founded to oversee the digital currency—recently decided they will allow people to make online payments using digital versions of existing... Facebook is planning some big changes to its Libra cryptocurrency project. On Tuesday, The...

Airbnb co-founder and CEO Brian Chesky at an event in 2018. Photo by AP.

As Airbnb Ponders Timing of Listing, Stock Grants Impose Deadline

By Cory Weinberg · Mar 4, 2020 7:02am PST · 7 comments

In June 2018, CEO Brian Chesky assured employees that Airbnb would go public by 2020. What nobody could have foreseen then was that a viral pandemic would threaten to pulverize the travel industry and hurt Airbnb’s business just as it planned to introduce itself to public investors. While global economic disruption would typically... In June 2018, CEO Brian Chesky assured employees that Airbnb would go public by 2020. What nobody...

David Marcus, head of blockchain for Facebook. Photo by Bloomberg

Facebook Revamps Libra Plans, Bowing to Regulators

By Alex Heath · Mar 3, 2020 1:15pm PST · 2 comments

Facebook is scaling back its ambitious plan to upend the global financial system with a new digital currency.Succumbing to pressure from regulators, Facebook has decided to offer its users digital versions of government-backed currencies, including the U.S. dollar and the euro, in addition to the proposed Libra token, according to three people... Facebook is scaling back its ambitious plan to upend the global financial system with a new...

Last year's Google Cloud Next Conference. Photo by Bloomberg

As Cancellations Mount, Virus Prompts Rethinking of Tech Events

By Nick Wingfield and Nick Bastone · Mar 3, 2020 7:00am PST · 1 comment

Geoff Keighley runs a popular video-game awards show every December that last year attracted 45 million people online, with another 4,500 people attending in person at a theater in Los Angeles. But as the coronavirus spreads, prompting a wave of conference cancellations, Keighley is already contemplating a decision he’ll have to make in... Geoff Keighley runs a popular video-game awards show every December that last year attracted 45...

Disney Executive Chairman Robert Iger at the premiere of "Star Wars: The Rise of Skywalker" in December. Photo by AP

Iger’s New Task: Revitalizing Franchises and Feeding Disney Plus

By Tom Dotan · Mar 2, 2020 10:00am PST · 1 comment

Disney Executive Chairman Robert Iger at the premiere of "Star Wars: The Rise of Skywalker" in December. Photo by AP

Iger’s New Task: Revitalizing Franchises and Feeding Disney Plus

By Tom Dotan · Mar 2, 2020 10:00am PST · 1 comment

In his new role as executive chairman of Disney, Bob Iger will oversee the company’s “creative endeavours.” That’s a vast role, potentially encompassing everything from programming on Disney’s TV networks and streaming services to the movies Disney produces—essentially the core business of the company.... In his new role as executive chairman of Disney, Bob Iger will oversee the company’s...

Amazon Web Services CEO Andy Jassy. Photo by Bloomberg

AWS Plans to Double Size of Sales Team as Microsoft Looms

By Kevin McLaughlin · Mar 2, 2020 7:01am PST

Amazon Web Services, faced with declining sales growth and mounting competition from Microsoft, plans to double the size of its current sales team this year, according to a person with direct knowledge and three people who have been briefed on the cloud provider’s plans. Part of the hiring spree, announced at a sales kickoff meeting... Amazon Web Services, faced with declining sales growth and mounting competition from Microsoft,...

Workers at a Beijing restaurant packing takeout orders on Sunday. Photo by AP

The Long and the Short of the Coronavirus’s Impact on Companies

By The Information Staff · Mar 1, 2020 12:02pm PST · 5 comments

The U.S. stock market just had its worst week since the 2008 financial crisis, triggered by the coronavirus. Out of the carnage, there may still be opportunities for investors.The market has recognized a few potential winners, most obviously biotech stocks working on vaccines and companies that enable people to work from home, such as... The U.S. stock market just had its worst week since the 2008 financial crisis, triggered by the...

What Coronavirus Taught Me About the News

By Jessica E. Lessin · Feb 29, 2020 7:45am PST · 6 comments

I spent some time this week preparing for the coronavirus, following the CDC’s recommendations. I stocked up on non-perishable food, washed my hands so much they hurt and canceled an upcoming day trip to LA. (Hello, Zoom!)But there was one thing I wasn’t prepared for: making sense of all the “news. I spent some time this week preparing for the coronavirus, following the CDC’s...

The Information’s 411 — What About Bobs?

By Tom Dotan · Feb 28, 2020 4:13pm PST

The Information’s 411 — What About Bobs?

By Tom Dotan · Feb 28, 2020 4:13pm PST

Jessica and Tom give their analysis of Disney's surprise CEO shakeup this week. The decision to name parks chief Bob Chapek the new CEO took many in the industry by surprise. Equally surprising was Bob Iger's decision to elevate himself from CEO to executive chairman, with Chapek reporting to him. We looked into other times when CEOs... Jessica and Tom give their analysis of Disney's surprise CEO shakeup this week. The decision...

Art by Mike Sullivan

An Internet Philosopher Finds Inner Peace

By Zoë Bernard · Feb 28, 2020 7:01am PST · 5 comments

The man some people call the “monk of Silicon Valley,” a “tech Buddha” and a “modern Yoda” really doesn’t want to talk about himself. Doing so, Naval Ravikant tells me, is a “low-value distraction” from his work, the subject of which is what prompted me to ask Ravikant for an interview... The man some people call the “monk of Silicon Valley,” a “tech Buddha”...

Apple CEO Tim Cook unveiling a new line of iPads last year. Photo by AP

Apple Planning iPad Keyboard With Trackpad

By Wayne Ma · Feb 27, 2020 12:13pm PST · 1 comment

Apple is planning to release an iPad keyboard accessory later this year that will include a built-in trackpad, the latest step in its effort to position the tablet device as an alternative to laptop computers, according to a person familiar with the matter. Apple is preparing the keyboard for mass production, and one of its main... Apple is planning to release an iPad keyboard accessory later this year that will include a...

Oyo CEO Ritesh Agarwal. Photo by Bloomberg

How SoftBank-Backed Hotel Chain Oyo Lost Its Way in the U.S.

By Cory Weinberg · Feb 27, 2020 7:00am PST · 3 comments

Oyo Rooms’ 26-year-old CEO Ritesh Agarwal spent Christmas 2018 driving around Texas, meeting with owners of budget motels near interstate highways. Flush with cash from SoftBank’s Vision Fund, the startup was looking to pay these motels for control of their marketing and sales—the same strategy that turned it into a hotel giant... Oyo Rooms’ 26-year-old CEO Ritesh Agarwal spent Christmas 2018 driving around Texas,...

Inside an Amazon Go store in Seattle. Photo by Bloomberg

Buyer Beware: Why Retailers Should Think Hard About Amazon ‘Go’ Partnerships

By Priya Anand and Kevin McLaughlin · Feb 26, 2020 1:01pm PST

Inside an Amazon Go store in Seattle. Photo by Bloomberg

Buyer Beware: Why Retailers Should Think Hard About Amazon ‘Go’ Partnerships

By Priya Anand and Kevin McLaughlin · Feb 26, 2020 1:01pm PST

Amazon is angling to become a toll collector on physical retail just as it is in e-commerce, with its vast marketplace that outside merchants access for a fee. But brick-and-mortar retailers may want to approach Amazon’s latest idea with caution.As Amazon on Tuesday unveiled in Seattle its biggest Amazon Go outlet—grocery stores... Amazon is angling to become a toll collector on physical retail just as it is in e-commerce, with...

FNDR CEO James Vincent. Photo by Cara Robbins

The Big Interview

Former Apple Ad Guru Becomes ‘Storyteller’ for Tech Founders

By Alex Heath · Feb 26, 2020 7:00am PST · 1 comment

James Vincent helped Steve Jobs come up with some of Apple’s most memorable advertisements, from its Mac versus PC commercials to an iPod campaign featuring dancing silhouettes. More recently, Vincent has turned himself into a brand whisperer to some of the most prominent companies in tech and media, including Snap, Vice Media and... James Vincent helped Steve Jobs come up with some of Apple’s most memorable advertisements,...

Disney executive chairman Bob Iger. Photo by Bloomberg

Despite Stepping Down as Disney CEO, Iger Will Still Be In Charge

By Tom Dotan, Jessica Toonkel and Martin Peers · Feb 25, 2020 1:43pm PST

Disney named its park chief Bob Chapek to succeed Bob Iger as CEO. But Iger isn’t going anywhere. He will become executive chairman, allowing him to retain control of the company at least through the end of next year, Disney’s disclosures show.As CEO, Chapek will report to Iger and to the board, Disney’s securities filing... Disney named its park chief Bob Chapek to succeed Bob Iger as CEO. But Iger isn’t going...

Casper CEO Philip Krim ringing a ceremonial bell at the New York Stock Exchange the day Casper went public. Photo by AP

DoorDash, Airbnb Face Wary Investors in Plans to Go Public

By Kevin Dugan · Feb 25, 2020 10:00am PST · 7 comments

Casper Sleep’s nightmare of a public market debut earlier this month has demonstrated that investor skepticism toward money-losing tech companies persisted into 2020. And that raises questions for several high-profile tech names contemplating going public this year, including two of the most highly valued, Airbnb and DoorDash.Unless they... Casper Sleep’s nightmare of a public market debut earlier this month has demonstrated that...

Inside Waymo’s Hiring Binge

By Amir Efrati · Feb 25, 2020 7:00am PST · 2 comments

Inside Waymo’s Hiring Binge

By Amir Efrati · Feb 25, 2020 7:00am PST · 2 comments

Alphabet’s Waymo still hasn’t perfected a self-driving car. So it is throwing more money at the problem. Waymo nearly doubled its headcount to 1,500 employees, known as “Waymonauts,” from 800 about a year ago, said a person with knowledge of the figure. Much of the expansion came from the hiring of hundreds of engineers... Alphabet’s Waymo still hasn’t perfected a self-driving car. So it is throwing more...