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

Quibi CEO Meg Whitman exits the stage at CES 2020. Photo by Bloomberg

Quibi’s Numbers Show High Wire Act

By Tom Dotan and Jessica Toonkel · Jan 10, 2020 10:15am PST · 3 comments

If there’s one thing to be said for Quibi, the short-form streaming service coming from Jeffrey Katzenberg and Meg Whitman this spring, it’s that it doesn’t suffer from a lack of ambition. When it launches, it will join a crowded field of streaming services from big media companies, all offering movies and TV shows for a few... If there’s one thing to be said for Quibi, the short-form streaming service coming from...

Erin Egan, chief privacy officer at Facebook, left, listens as Jane Horvath, senior director of global privacy at Apple, speaks during a panel discussion at CES. Photo by Bloomberg.

Subscriber Video Conference

Six Things We Learned at CES

By The Information Staff · Jan 10, 2020 7:02am PST · 3 comments

On Thursday, we hosted a conference call for subscribers with takeaways from the big annual event. You can check out a recording of the video call below. We also published some of the takeaways from our reporter Nick Bastone, including the focus on 5G. Here are six more things that jumped out at us about the event. On Thursday, we hosted a conference call for subscribers with takeaways from the big annual...

The Information's editor in chief Jessica Lessin talking with the New York Times' COO Meredith Levien at an event in New York in 2018. Photo by Karen Obrist

Jobs@TheInformation

Be The Information’s Head of Communications

By The Information Staff · Jan 9, 2020 3:29pm PST · 1 comment

The Information is hiring an executive to be our first head of communications, responsible for amplifying the impact of our journalism and building The Information brand. Over the past six years, we have built a fast-growing and sustainable premium news business off the back of excellent journalism. During a period of turmoil in the... The Information is hiring an executive to be our first head of communications, responsible for...

Where Slack Outspends Bigger Firms

By Kevin McLaughlin · Jan 9, 2020 10:01am PST · 4 comments

Where Slack Outspends Bigger Firms

By Kevin McLaughlin · Jan 9, 2020 10:01am PST · 4 comments

When it comes to tech companies arming themselves against competition, Slack may be hard to beat. At least, that is, when it comes to spending on research and development, the route to new product development. Slack spent the equivalent of 38% of its revenue on R&D in its first three quarters of last year, a percentage that was... When it comes to tech companies arming themselves against competition, Slack may be hard to beat....

Hyun-Suk Kim, president and chief executive officer of Samsung Electronics, speaking at CES this week. Photo by Bloomberg

At CES, a Focus on the Next Big Thing

By Nick Bastone · Jan 9, 2020 7:01am PST

LAS VEGAS—Predicting which technologies at CES—the giant consumer electronics show taking place here this week—will become part of our lives and when is always a crapshoot. Personal robots, 3D television sets and a long list of operating systems and devices that debuted at the show in past years all ended up flopping. If... LAS VEGAS—Predicting which technologies at CES—the giant consumer electronics show...

Huawei's headquarters in Germany. Photo by AP.

Huawei in Talks With Banks to Raise $2 Billion

By Juro Osawa · Jan 8, 2020 2:14pm PST · 1 comment

Huawei is in talks with several international banks as part of an effort to raise about $2 billion through loans and bond sales outside China, people familiar with the matter said. The fundraising is partly aimed at showing that the Chinese company can still get international banks on board for its future financing plans, despite U.S. sanctions.... Huawei is in talks with several international banks as part of an effort to raise about $2...

Subscriber Survey

Elon Musk Is Tech Founder of the Decade, Subscribers Say

By Chris Noble · Jan 8, 2020 11:21am PST · 2 comments

Tesla CEO and SpaceX founder Elon Musk edged out Facebook’s Mark Zuckerberg and Amazon’s Jeff Bezos as the most important tech company founder of the last decade, according to our most recent subscriber survey.Musk garnered almost entirely positive comments from subscribers, who lauded him for transforming the auto industry, pushing... Tesla CEO and SpaceX founder Elon Musk edged out Facebook’s Mark Zuckerberg and...

Twitch headquarters in San Francisco. Photo by Shutterstock

How Big Is Amazon’s Twitch? Revenues Reveal Ad Struggles

By Priya Anand · Jan 8, 2020 7:01am PST · 1 comment

Twitch headquarters in San Francisco. Photo by Shutterstock

How Big Is Amazon’s Twitch? Revenues Reveal Ad Struggles

By Priya Anand · Jan 8, 2020 7:01am PST · 1 comment

After Amazon paid nearly $1 billion to acquire the streaming video service Twitch more than five years ago, it looked like the company had a shot at turning it into the next YouTube. That view got a boost when Twitch began pushing beyond its main audience of gamers into cooking and craft videos. So far, though, Twitch is falling short... After Amazon paid nearly $1 billion to acquire the streaming video service Twitch more than five...

Getaround to Lay Off About One-Fourth of Staff

By Cory Weinberg · Jan 7, 2020 11:11am PST · 2 comments

Car-rental startup Getaround plans to lay off roughly 150 employees, or about a quarter of its staff, in a bid to reduce rising costs, people familiar with the matter said. Getaround’s chief executive told The Information that the cuts mostly will involve employees handling day-to-day interactions between car owners and renters.Getaround... Car-rental startup Getaround plans to lay off roughly 150 employees, or about a quarter of its...

WeWork's former CEO Adam Neumann. Photo by Bloomberg

Why Tech ‘Run Rates’ Should Raise Eyebrows

By Nick Wingfield · Jan 7, 2020 7:01am PST · 8 comments

When We Co.—the parent of WeWork—filed to go public last fall, its financial disclosures showed the company had “run rate revenue” of $2.4 billion as of Dec. 31 2018. But in a different spot in the IPO filing, WeWork reported its actual 2018 revenue as $1.8 billion—25% lower. Run rate revenue has joined a host... When We Co.—the parent of WeWork—filed to go public last fall, its financial...

Erika Nardini, CEO of Barstool Sports; Simon Denyer, CEO of DAZN; Alex Mather, CEO of The Athletic. Photos by Bloomberg and The Information.

Why 2020 Could Bring a Merger Wave to Online Sports

By Tom Dotan and Jessica Toonkel · Jan 6, 2020 10:30am PST

This year is shaping up to be a big year for digital sports media companies such as The Athletic, Barstool Sports and Action Network. New business opportunities are emerging from the growth of legalized sports betting. The Athletic is expanding into the U.K. Several others, including Overtime and FuboTV, are raising money. Last month, daily... This year is shaping up to be a big year for digital sports media companies such as The Athletic,...

Art by Danielle Davis

Uber CEO Khosrowshahi Struggles to Find Formula for Success

By Amir Efrati · Jan 6, 2020 7:02am PST · 3 comments

Art by Danielle Davis

Uber CEO Khosrowshahi Struggles to Find Formula for Success

By Amir Efrati · Jan 6, 2020 7:02am PST · 3 comments

As 2020 begins, Uber CEO Dara Khosrowshahi faces what is shaping up to be a year of reckoning. Uber’s market capitalization has dropped $29 billion since it went public in May. It likely lost five to six times as much money in 2019 as it forecast in presentations to banks two years ago. And it has lost ground in its ride-hailing, scooter... As 2020 begins, Uber CEO Dara Khosrowshahi faces what is shaping up to be a year of reckoning....

Art by Danielle Davis

What to Watch and Listen to in 2020

By Jessica E. Lessin · Jan 4, 2020 7:45am PST

As any The Information reader knows, it is the golden age of digital television and, increasingly audio. But even when you are cruising through content at 1.5x speed, time is limited and you can’t watch it all. To help, our team compiled a list of shows and podcasts you shouldn’t miss. Some have gotten a lot of publicity. Many... As any The Information reader knows, it is the golden age of digital television and, increasingly...

The Information’s 411 — Hindsight Is 2020

By Tom Dotan · Jan 3, 2020 2:16pm PST

Tom and Jessica wrap up 2019, looking back at the year for Facebook, startup fundraising and media. Tom and Jessica wrap up 2019, looking back at the year for Facebook, startup fundraising and...

A Revel moped being ridden in Brooklyn, N.Y., last year. Photo: Bloomberg

Brooklyn’s Moped Upstart Readies West Coast Expansion

By Cory Weinberg · Jan 3, 2020 7:00am PST · 1 comment

Revel, a startup that rents electric mopeds, had such high ridership after launching service in Brooklyn last May that it took all hands on deck to keep the mopeds running and on the street. Revel’s CEO had to personally swap out vehicle batteries when they ran low on power. It didn’t take long for Revel to expand elsewhere.... Revel, a startup that rents electric mopeds, had such high ridership after launching service in...

Facebook's Michael Abrash at an Oculus event in 2018. Photo by Bloomberg

Facebook’s Chief Scientist: Mass Adoption of AR Is Years Away

By Alex Heath · Jan 2, 2020 10:01am PST · 1 comment

Facebook's Michael Abrash at an Oculus event in 2018. Photo by Bloomberg

Q&A

Facebook’s Chief Scientist: Mass Adoption of AR Is Years Away

By Alex Heath · Jan 2, 2020 10:01am PST · 1 comment

Five to 10 years. That’s how long Michael Abrash, chief scientist at Facebook, predicts it will take before augmented reality glasses—which will display digital images and data on wearable devices that people view through—are ready for the masses. Abrash leads Facebook Reality Labs, a Redmond, Washington–based research... Five to 10 years. That’s how long Michael Abrash, chief scientist at Facebook, predicts it...

2020 Predictions

Why Slack Will Be Acquired

By Kevin McLaughlin · Jan 2, 2020 7:01am PST · 9 comments

This time last year, Slack Technologies, the popular workplace chat provider, was one of the most eagerly anticipated public tech debuts of 2019. That seems like a long time ago. Since Slack went public in June, its stock has dropped about 40%.The reason for the slump: Revenue growth at Slack is slowing and competition is intensifying,... This time last year, Slack Technologies, the popular workplace chat provider, was one of the most...

Henrique Dubugras, co-founder and chief executive office of Brex. Photo by Bloomberg

A Startup Resolution: More Meditation, Fewer Happy Hours

By Zoë Bernard · Dec 31, 2019 7:00am PST

At first, employees at Bluume were skeptical.In July, the marketing software startup’s co-founders sent out an email inviting employees to cut back on their drinking as a part of several daily fitness goals. With that in mind, Bluume’s management stopped organizing outings to the Taco Tuesday Happy Hour at the Mexican bar near... At first, employees at Bluume were skeptical.In July, the marketing software startup’s...

Cast and crew of the Disney Plus series "The Mandalorian" at a premiere in Los Angeles last month. Photo by AP

2020 Predictions

Disney’s Streaming Service Will Show Big Subscriber Numbers—at First

By Tom Dotan · Dec 30, 2019 10:01am PST

Walt Disney Co. is expected to reveal by February how many subscribers its new streaming service, Disney Plus, has signed up. I’m betting the numbers will be huge. By the fall of next year, I predict, Disney will be more than halfway to its 2024 target of 60 million to 90 million subscribers, with between 35 million and 45 million... Walt Disney Co. is expected to reveal by February how many subscribers its new streaming service,...

A Mochila warehouse. Photo by Mochila

Amazon Spawns a Wave of Logistics Startups

By Priya Anand · Dec 30, 2019 7:01am PST

A Mochila warehouse. Photo by Mochila

Amazon Spawns a Wave of Logistics Startups

By Priya Anand · Dec 30, 2019 7:01am PST

Amazon has become a logistics and transportation powerhouse, so much so that the company now handles half of its own deliveries worldwide. And numerous Amazon employees are taking the expertise they’ve developed at the e-commerce giant to startups that aim to help other companies ship products to customers faster.Those startups, which... Amazon has become a logistics and transportation powerhouse, so much so that the company now...