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

VMware COO Sanjay Poonen. Photo by VMware

Q&A

VMware’s Sanjay Poonen Discusses Company’s Subscription Software Shift

By Kevin McLaughlin · Sep 10, 2020 6:02am PDT

When Sanjay Poonen joined VMware in 2013, the company was scrambling to adapt its traditional software business to a new world in which businesses were increasingly running software inside cloud data centers operated by Amazon, Microsoft and others. That shift could have been bad news for VMware, which is the dominant provider of software... When Sanjay Poonen joined VMware in 2013, the company was scrambling to adapt its traditional...

Sarah Bond, Head of Global Gaming Partnerships and Development, at an Xbox briefing last year. Photo by AP

Microsoft’s Game Plan, Day One of WTF: The Information’s Tech Briefing

By Martin Peers · Sep 9, 2020 5:32pm PDT

Microsoft on Wednesday revealed prices for its new Xbox game consoles going on sale in November. What was interesting, though, was a new plan in which gamers can get the consoles with no money down. Instead, in a model borrowed from the cellphone industry, they will pay over two years—getting both the console and access to... Microsoft on Wednesday revealed prices for its new Xbox game consoles going on sale in November....

Eventbrite CEO Julia Hartz. Photo by Bloomberg.

Excerpts From Day One of The Information’s WTF Conference

By The Information Staff · Sep 9, 2020 3:15pm PDT

At The Information’s WTF conference today, speakers included Endeavor’s chief human resources officer, Kerry Chandler; Eventbrite CEO Julia Hartz; J.Crew’s former president, Jenna Lyons; SoftBank Vision Fund partner Kirthiga Reddy; and “The Biggest Bluff” author Maria Konnikova. Here’s a rundown of what they... At The Information’s WTF conference today, speakers included Endeavor’s chief human...

Nasdaq CEO Adena Friedman. Photo by Bloomberg.

Remote IPO Roadshows Are Here to Stay, Says Nasdaq’s Friedman

By Ross Matican · Sep 9, 2020 1:03pm PDT

Nasdaq CEO Adena Friedman. Photo by Bloomberg.

Remote IPO Roadshows Are Here to Stay, Says Nasdaq’s Friedman

By Ross Matican · Sep 9, 2020 1:03pm PDT

One twist the coronavirus pandemic has brought to capital market activity is the emergence of remote initial public offerings, said Adena Friedman, chief executive of Nasdaq. Gone, for now, at least, are the two-week-long in-person road shows that have traditionally accompanied IPOs. Virtual road shows, Friedman said, can be carried out in... One twist the coronavirus pandemic has brought to capital market activity is the emergence of...

Heidi Zak, co-CEO of ThirdLove. Photo: Courtesy of ThirdLove

ThirdLove Should Be Close to Profitable This Year, Says CEO Zak

By Kate Clark and Jessica Toonkel · Sep 9, 2020 11:48am PDT

ThirdLove, an online bra retailer that had been growing quickly before the pandemic, should be close to profitable this year, said its CEO, Heidi Zak. Her forecast follows a difficult period when shoppers, stuck at home to avoid coronavirus contagion, scaled back on clothing purchases even if they could buy them online. In March, “we... ThirdLove, an online bra retailer that had been growing quickly before the pandemic, should be...

Facebook COO Sheryl Sandberg. Photo by Bloomberg.

Facebook’s Sandberg Says TikTok Ban ‘Very Unusual’ in Business History

By Alex Heath · Sep 9, 2020 9:20am PDT

Facebook Chief Operating Officer Sheryl Sandberg says the White House’s order to ban TikTok was “very unusual in the history of business” and wasn’t something Facebook had called for.Sandberg’s comments, made during an interview at The Information’s Women in Tech, Media and Finance conference, come as... Facebook Chief Operating Officer Sheryl Sandberg says the White House’s order to ban TikTok...

Chromebooks Gain Share of Education Market Despite Shortages

By Laura Mandaro · Sep 9, 2020 6:01am PDT · 1 comment

When many children attend classes this fall, they’re likely to do so by opening a laptop at home rather than sitting down in a classroom. That shift has caused a spike in demand for PCs—and particularly for Chromebooks, the low-cost laptops that use Google’s Chrome operating system and apps. Demand from schools and parents... When many children attend classes this fall, they’re likely to do so by opening a laptop at...

Apple CEO Tim Cook appearing by videoconference before the House Judiciary Committee in July. Photo by Bloomberg

Apple’s Epic Response: The Information’s Tech Briefing

By Martin Peers · Sep 8, 2020 5:31pm PDT

Apple CEO Tim Cook appearing by videoconference before the House Judiciary Committee in July. Photo by Bloomberg

Apple’s Epic Response: The Information’s Tech Briefing

By Martin Peers · Sep 8, 2020 5:31pm PDT

The legal fight between Apple and Epic Games chugged onward Tuesday, as Apple countersued the developer of “Fortnite” and asked a judge for financial damages. While Apple’s countersuit didn’t contain any big surprises, it did include what might be Apple’s clearest defense yet against anyone who argues it is behaving... The legal fight between Apple and Epic Games chugged onward Tuesday, as Apple countersued the...

Video: Best and Worst Business Advice from The Information WTF Speakers

By Jessica E. Lessin · Sep 8, 2020 12:29pm PDT · 1 comment

The Information’s second annual WTF conference kicks off Wednesday, featuring interviews with Laurene Powell Jobs, Emily Weiss, Sheryl Sandberg and dozens of other female business leaders. Ahead of the event, we are releasing this video, one of several to be shown at the conference, featuring advice from our speakers. To watch it,... The Information’s second annual WTF conference kicks off Wednesday, featuring interviews...

Headcount Tracker: Despite Deep Cuts at Tech Firms, Many Keep Hiring

By Nick Wingfield · Sep 8, 2020 6:02am PDT · 1 comment

There has been plenty of grim news about jobs in the technology industry over the past few months, from headline-grabbing staff cutbacks at startups to an overall employment dip in the sector. But an analysis by The Information of two dozen publicly traded tech companies shows that many companies have actually expanded their workforces since the... There has been plenty of grim news about jobs in the technology industry over the past few...

Jim Bankoff. Art by Mike Sullivan

Q&A

Vox Media’s Bankoff Talks Digital Media, Ad Market and Facebook

By Jessica Toonkel · Sep 8, 2020 3:00am PDT · 1 comment

In the crowded and cutthroat landscape of digital media, Vox Media has been one of the survivors, keeping costs under control and growing through acquisition of such properties as New York magazine and its websites, as well as Recode, adding these to properties purchased earlier, The Verge and SBNation. CEO Jim Bankoff said that Vox has... In the crowded and cutthroat landscape of digital media, Vox Media has been one of the survivors,...

People shop at a fruit market in Brooklyn. Photo by AP

How Brooklyn Is Taking On Amazon

By Paris Martineau · Sep 5, 2020 7:45am PDT · 1 comment

People shop at a fruit market in Brooklyn. Photo by AP

How Brooklyn Is Taking On Amazon

By Paris Martineau · Sep 5, 2020 7:45am PDT · 1 comment

We’re in the midst of the perfect storm (or perhaps the perfect double hurricane) to cause the mass extinction of small businesses and the consolidation of wide swaths of commerce. The last six months have been punishing for most small businesses, particularly those that catered to the surrounding community, relying primarily on foot... We’re in the midst of the perfect storm (or perhaps the perfect double hurricane) to cause...

Masayoshi Son

SoftBank’s Latest Gambit: The Information’s Tech Briefing

By Martin Peers · Sep 4, 2020 5:31pm PDT

With its high-priced Vision Fund investments, SoftBank drove up the value on private tech startups over the past few years. More recently, it has been doing the same with the price of public tech giants through massive option purchases on tech stocks.That’s according to a couple of reports on Friday, in the Financial Times and the Wall... With its high-priced Vision Fund investments, SoftBank drove up the value on private tech...

The Information’s 411 — Stripe Tease

By Tom Dotan · Sep 4, 2020 3:33pm PDT

With the TikTok drama getting even messier and tech relations between the U.S. and China at an all-time low, we check in with Jessica Lessin about the latest. Then Cory talks to Kate Clark about how the payments firm Stripe has become a force in venture capital, often edging out established firms to get in on deals. With the TikTok drama getting even messier and tech relations between the U.S. and China at an...

AWS executive Teresa Carlson speaking at an event last year. Photo by Bloomberg

AWS Names New Global Sales Leader, Takes Aim at ‘Whales’

By Kevin McLaughlin · Sep 4, 2020 6:34am PDT

Amazon recently promoted two senior sales executives at its clouding computing unit as part of a broader push to get more large companies to use its services, The Information has learned.With the promotions, Amazon Web Services is divvying up the role previously held by Mike Clayville, a longtime sales chief who left in August for payments... Amazon recently promoted two senior sales executives at its clouding computing unit as part of a...

Facebook CEO Mark Zuckerberg. Photo by Bloomberg

Facebook’s Misinformation Game Plan: The Information’s Tech Briefing

By Martin Peers · Sep 3, 2020 5:01pm PDT

Facebook CEO Mark Zuckerberg. Photo by Bloomberg

Facebook’s Misinformation Game Plan: The Information’s Tech Briefing

By Martin Peers · Sep 3, 2020 5:01pm PDT

Facebook got big headlines today for its decision to ban political ads in the final week of the presidential race, its latest move aimed at battling misinformation ahead of the November election. The impact the ban will have is debatable. A less flashy update to Facebook’s Messenger app, also announced today, will likely have a more... Facebook got big headlines today for its decision to ban political ads in the final week of the...

Tim Cook, chief executive officer of Apple Inc., speaks via videoconference during a House Judiciary Subcommittee hearing in Washington, D.C.. Photo: Bloomberg.

Apple to Delay iOS Change Roiling Mobile Ad Market

By Alex Heath · Sep 3, 2020 9:03am PDT · 3 comments

Apple plans to delay the enforcement of a controversial change to its next mobile operating system that would upend how ads are targeted on iPhones and iPads, according to people familiar with the matter. The change in iOS 14, the next version of Apple’s mobile software, will require developers to ask users to share their device’s... Apple plans to delay the enforcement of a controversial change to its next mobile operating...

The actor Matthew Rhys, who plays the lead role in HBO's Perry Mason. Photo by HBO

How HBO Is Complicating WarnerMedia’s Ad-Based HBO Max Plans

By Tom Dotan and Jessica Toonkel · Sep 3, 2020 6:01am PDT

As WarnerMedia plans the next phase of its streaming expansion—a low-cost version of HBO Max that runs ads—it is wrestling with an unusual challenge. It can’t run ads in new episodes of HBO shows, the best known part of its programming lineup, according to several people familiar with the situation.That’s largely a result... As WarnerMedia plans the next phase of its streaming expansion—a low-cost version of HBO...

Hedge fund manager Bill Ackman. Photo by Bloomberg.

Airbnb’s SPAC Rejection: The Information’s Tech Briefing

By Martin Peers · Sep 2, 2020 5:32pm PDT

Merging with a special purpose acquisition company—those fast-proliferating publicly traded firms that have cash and whose mission in life is to acquire a business—has emerged as an appealing route for private tech firms looking to go public. But Airbnb’s rejection of an approach from hedge fund manager Bill Ackman’s... Merging with a special purpose acquisition company—those fast-proliferating publicly traded...

Patrick Collison, CEO and co-founder of Stripe, left, and John Collison, president and co-founder of Stripe, in 2018. Photo by Bloomberg.

Venture Capitalists’ Newest Threat: Stripe

By Kate Clark · Sep 2, 2020 12:35pm PDT · 2 comments

Patrick Collison, CEO and co-founder of Stripe, left, and John Collison, president and co-founder of Stripe, in 2018. Photo by Bloomberg.

Venture Capitalists’ Newest Threat: Stripe

By Kate Clark · Sep 2, 2020 12:35pm PDT · 2 comments

Stripe has become one of Silicon Valley’s most prominent startups, valued at $36 billion thanks to its technology powering online purchases for clients like Target and Amazon. In the background, its founders have also been building another business: venture capital. Since 2017, the San Francisco–based company has invested in... Stripe has become one of Silicon Valley’s most prominent startups, valued at $36 billion...