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

Zoom Video CEO Eric Yuan on the day Zoom went public on the Nasdaq market last April. Photo by Bloomberg

Quid Pro IPO? Software Tech IPO Practice Raises Disclosure Questions

By Kevin Dugan and Priya Anand · Jan 23, 2020 7:00am PST · 4 comments

In 2017, executives at the cloud security company Zscaler were interviewing bankers ahead of an initial public offering expected to value the company at more than $1.5 billion. During a meeting with bankers from Barclays, one of the dozen or so firms vying to underwrite the IPO, Zscaler’s chief financial officer Remo Canessa commented that... In 2017, executives at the cloud security company Zscaler were interviewing bankers ahead of an...

Attorney General William Barr. Photo: AP

Barr Ratchets Up Pressure on Tech With Liability Threat

By Ashley Gold · Jan 22, 2020 10:00am PST

Last week, Attorney General William Barr went on the offensive against the tech industry, scolding Apple for refusing to grant authorities access to phones used by the gunman in the deadly shooting at a Navy base in Pensacola, Florida, in December. The public confrontation over data privacy and security was Barr’s latest effort to... Last week, Attorney General William Barr went on the offensive against the tech industry,...

Uber CEO Dara Khosrowshahi. Photo by Bloomberg

Why Uber’s Stock Rally Doesn’t Make Sense

By Amir Efrati and Martin Peers · Jan 22, 2020 7:02am PST · 9 comments

Uber proved countless doubters wrong by showing, when it reported its third-quarter results last fall, that its ride-hailing business can make money. And as investors await the fourth-quarter numbers scheduled to be released Feb. 6, they’ve sent the stock soaring. It’s as though they think the worst is over for the ride-hailing... Uber proved countless doubters wrong by showing, when it reported its third-quarter results last...

Quibi CEO Meg Whitman. Photo by Bloomberg

Quibi’s CEO Meg Whitman Compared Reporters to Sexual Predators

By Tom Dotan and Jessica Toonkel · Jan 21, 2020 5:43pm PST · 7 comments

Quibi CEO Meg Whitman. Photo by Bloomberg

Quibi’s CEO Meg Whitman Compared Reporters to Sexual Predators

By Tom Dotan and Jessica Toonkel · Jan 21, 2020 5:43pm PST · 7 comments

Quibi CEO Meg Whitman lashed out against the media at an “all-hands” staff meeting last Thursday, drawing an analogy between reporters who cultivate sources and sexual predators who prey on underage victims, according to two people who heard her comments.Whitman, a veteran tech executive who once ran for governor of California, made... Quibi CEO Meg Whitman lashed out against the media at an “all-hands” staff meeting...

China’s Didi Chuxing Seeks Revival Through Management Shake-Up

By Yunan Zhang · Jan 21, 2020 10:59am PST · 1 comment

Chinese ride-hailing giant Didi Chuxing is hoping a vastly overhauled management team can help it jumpstart growth.The installation of a new executive team to its core ride-hailing business last month capped more than a year of management changes across the company, as Didi attempts to turn the corner from a growth slump sparked by the murder of... Chinese ride-hailing giant Didi Chuxing is hoping a vastly overhauled management team can help it...

Image: Mike Sullivan

Influx of Professional Hosts Tests Airbnb’s Message

By Cory Weinberg · Jan 21, 2020 7:01am PST · 1 comment

Last fall, in Airbnb’s first major advertising campaign in more than two years, it portrayed hosts as regular homeowners happy to rent out a spare room and socialize with their guests. The message—that Airbnb helps foster a global community by bringing together travelers and locals—is one Airbnb has promoted since its earliest... Last fall, in Airbnb’s first major advertising campaign in more than two years, it...

Microsoft CEO Satya Nadella. Photo by Bloomberg

Tech’s Tall Order at Davos

By Jessica E. Lessin · Jan 18, 2020 7:46am PST

Next week, tech CEOs will trade their vests for furry hats and boots and trek to the World Economic Forum in Davos, Switzerland. Years ago, the trek was a sort of celebratory victory lap. With their businesses skyrocketing, executives from Facebook, Google, Microsoft, Uber and Salesforce, to name a few, were rock stars. But amid privacy scandals... Next week, tech CEOs will trade their vests for furry hats and boots and trek to the World...

The Information’s 411 — Drummond’s Base

By Tom Dotan · Jan 17, 2020 4:42pm PST

The Information’s 411 — Drummond’s Base

By Tom Dotan · Jan 17, 2020 4:42pm PST

We dove deep on the story of David Drummond at Google. The company’s chief legal officer recently announced he was retiring, following the lead of co-founders Larry Page and Sergey Brin’s decision to step aside, But his departure re-opened some old wounds with former partners at Google’s venture arm GV. Nick got the backstory... We dove deep on the story of David Drummond at Google. The company’s chief legal officer...

Photo courtesy of GoPuff

SoftBank’s Secret $750 Million Investment in GoPuff

By Cory Weinberg and Amir Efrati · Jan 17, 2020 1:07pm PST

SoftBank’s Vision Fund made one of its largest U.S. venture investments last year in a Philadelphia-based startup that has developed a big following on college campuses for its deliveries of junk food, alcohol and other convenience store items.The Vision Fund led a $750 million investment in goPuff last August, two people familiar with the... SoftBank’s Vision Fund made one of its largest U.S. venture investments last year in a...

David Krane, Bill Maris and David Drummond. Photos by Bloomberg. llustration by Mike Sullivan

Drummond Departure Puts Spotlight on Google Venture Arm

By Nick Bastone · Jan 17, 2020 7:02am PST

When Alphabet’s chief legal officer, David Drummond, announced his retirement from the company last week, an executive who once ran the company’s main venture investment arm—now known as GV—issued an unusual public statement blasting Drummond. “We have very, very different ideas about how to treat people, and this... When Alphabet’s chief legal officer, David Drummond, announced his retirement from the...

Microsoft’s Plan to Go Carbon Negative Raises Bar for Tech Rivals

By Kevin McLaughlin · Jan 16, 2020 9:30am PST

Microsoft on Thursday unveiled a sweeping, 30-year plan to remove from the atmosphere all the carbon it has ever emitted, effectively eliminating its global carbon footprint. The plan appears likely to raise the stakes for other big tech companies that haven’t set goals anywhere near as ambitious.By 2025, Microsoft says, it will shift to... Microsoft on Thursday unveiled a sweeping, 30-year plan to remove from the atmosphere all the...

Art by G.Krazter

The Information’s Troubled Tech Companies List

By The Information Staff · Jan 16, 2020 7:01am PST · 4 comments

Art by G.Krazter

The Information’s Troubled Tech Companies List

By The Information Staff · Jan 16, 2020 7:01am PST · 4 comments

Once high-flying tech companies like WeWork and Magic Leap have been shedding employees. Others are struggling to fundraise. Following a reckoning in the public markets in 2019, 2020 isn't likely to be kind to tech companies that have been burning through cash and haven't found a way to turn a profit. With that in mind, we... Once high-flying tech companies like WeWork and Magic Leap have been shedding employees. Others...

Netflix’s Asia Growth Challenge: Trading Price for Volume

By Wayne Ma · Jan 15, 2020 12:52pm PST · 1 comment

Netflix’s stock rises and falls on subscriber growth, which has come to a halt in the U.S. But subscribers are still growing strong internationally, reaching 158 million subscribers at the end of September. Its executives have laid out a case to investors that the next 100 million subscribers could come from places like India and Southeast... Netflix’s stock rises and falls on subscriber growth, which has come to a halt in the U.S....

NBCUniversal Chairman Steve Burke. Photo by Bloomberg

NBCUniversal’s Peacock Will Look More Like Cable Than Like Netflix

By Jessica Toonkel and Tom Dotan · Jan 15, 2020 7:00am PST · 4 comments

On Thursday, Comcast’s NBCUniversal becomes the fourth company in less than a year to unveil a video-streaming service to compete with Netflix. But NBCU is taking a very different approach to its service, Peacock, than the three earlier companies, Disney, Apple and WarnerMedia, did, making it more of a test case for an alternative approach... On Thursday, Comcast’s NBCUniversal becomes the fourth company in less than a year to...

Art by Sam Lessin

Modest Proposals

My Predictions for the Next Decade

By Sam Lessin · Jan 14, 2020 7:01am PST · 9 comments

Right before 2010 began, I made a set of thematic predictions about 2020 and then backed them up with 86 specific claims. Having just reviewed and graded my now decade-old calls, it is time to make a new batch of predictions for 2030. The optimist in me believes that having already done this exercise once as an adult, my hit rate on... Right before 2010 began, I made a set of thematic predictions about 2020 and then backed them up...

Art by Sam Lessin

Grading My 2010 Predictions—and What I Learned

By Sam Lessin · Jan 14, 2020 6:45am PST · 1 comment

Art by Sam Lessin

Modest Proposals

Grading My 2010 Predictions—and What I Learned

By Sam Lessin · Jan 14, 2020 6:45am PST · 1 comment

At the end of December 2009, I published a set of predictions about both my personal life and what the technology industry would look like a decade later—in 2020. I got a lot correct, I’m proud to say, especially about the big picture of social issues resulting from technological change. But I also made some big mistakes in... At the end of December 2009, I published a set of predictions about both my personal life and...

The People With Power at Twitter

By Alex Heath · Jan 13, 2020 7:01am PST · 1 comment

For more than four years, Jack Dorsey has held the CEO role at both Twitter and Square, splitting his time between the two companies, whose headquarters are near each other in downtown San Francisco. For Twitter, the lack of a full-time CEO has meant that senior leaders are effectively running the company by consensus. Having to get top... For more than four years, Jack Dorsey has held the CEO role at both Twitter and Square, splitting...

‘Masageddon’ and the Limits of the SoftBank Playbook

By Jessica E. Lessin · Jan 11, 2020 7:46am PST · 1 comment

Back in September, when Cory broke the story of the WeWork’s impending layoffs, we wondered: Was this just the beginning? So, this week, when he got a tip that Getaround—the car rental service backed by SoftBank—was planning to cut a quarter of its staff, he whipped up a chart to keep track of the toll. We published that... Back in September, when Cory broke the story of the WeWork’s impending layoffs, we...

The Information’s 411 — Uber Drowning in the Pool

By Priya Anand · Jan 10, 2020 3:57pm PST

Welcome back to The Information's 411. This week, we talked about Amir's exclusive story that outlined Uber's many business problems. As he reported, UberPool loses lots of money. So the company has been working to cut those losses, but when it raises prices, fewer people use Pool. We discuss what that means for Uber's... Welcome back to The Information's 411. This week, we talked about Amir's exclusive ...

David Drummond. Photo by Bloomberg

The Article Google Didn’t Want Us to Write

By Jessica E. Lessin · Jan 10, 2020 12:20pm PST · 4 comments

David Drummond. Photo by Bloomberg

From the Editor

The Article Google Didn’t Want Us to Write

By Jessica E. Lessin · Jan 10, 2020 12:20pm PST · 4 comments

A little over two years ago, I was sitting in my office with reporter Reed Albergotti and our managing editor Martin Peers wrestling with how to tell the story about the interoffice romances at Google that were long rumored but never published. Reed had new reporting about Alphabet’s chief legal officer David Drummond’s... A little over two years ago, I was sitting in my office with reporter Reed Albergotti and our...