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

Mark Zuckerberg testifies to Congress. Photo by Bloomberg.

Everything We Learned Reporting on Facebook This Year

By The Information Staff · Nov 21, 2019 5:27pm PST · 1 comment

We’re coming to a close on another tough year for Facebook. The news cycle around Facebook is constantly changing, but the company remains in a fighting posture against its peers in the industry, the media and lawmakers in Washington. Meanwhile, Facebook’s business continues to deliver impressive results.Alex Heath, who joined The... We’re coming to a close on another tough year for Facebook. The news cycle around Facebook...

After Hiring Binges, Google, Facebook See Profits Per Employee Slide

By Nick Bastone · Nov 21, 2019 7:01am PST · 1 comment

The two biggest internet advertising companies—Facebook and Alphabet, the parent of Google—have long been among the most profitable in tech. But after hiring binges, both companies have seen significant declines by one profit measure, net income per employee. Those are among the takeaways from an analysis... The two biggest internet advertising companies—Facebook and Alphabet, the parent of...

Cisco CEO Chuck Robbins. Photo by Bloomberg

Cisco Shuffles Cloud, Networking Groups as Rivals Loom

By Kevin McLaughlin · Nov 20, 2019 12:35pm PST

Cisco Systems is shaking up the leadership of its networking and cloud computing businesses as it seeks to better compete against rivals chipping away at its dominance, The Information has learned. The tech giant is combining its enterprise and data center networking units—which make equipment that helps companies shuttle data over... Cisco Systems is shaking up the leadership of its networking and cloud computing businesses as it...

Snap's Jared Grusd with The Information's Jessica Lessin. Photo by Erin Beach.

Snap Sees ‘Extraordinary Growth’ in India, Exec Says

By Tom Dotan · Nov 20, 2019 10:46am PST

Snap's Jared Grusd with The Information's Jessica Lessin. Photo by Erin Beach.

Snap Sees ‘Extraordinary Growth’ in India, Exec Says

By Tom Dotan · Nov 20, 2019 10:46am PST

Snap is seeing “extraordinary growth” in India, both in terms of bringing on new users and getting existing ones to use the app more, Snap Chief Strategy Officer Jared Grusd said on Tuesday. It’s a big change for a company that historically paid little attention to India and instead focused on richer markets like the U.S. and... Snap is seeing “extraordinary growth” in India, both in terms of bringing on new...

Nick Bell, Katie Goldsmith and Charles Porch with Jessica Lessin on Tuesday. Photo by Erin Beach

Future of Direct-to-Consumer Relationships Is Smaller, Passionate Audiences

By Beejoli Shah · Nov 20, 2019 8:00am PST

As entertainment companies compete for viewer attention in an increasingly crowded field, they’re learning that one of the ways to stand out to consumers is by not trying to be everything to everyone. Rather than solely chasing zeitgeist moments, some companies are finding success in supplying smaller audiences with exactly what they want... As entertainment companies compete for viewer attention in an increasingly crowded field,...

Disney CEO Bob Iger. Photo by Bloomberg

Disney’s Shift Shows Cable Channels Losing Status to Streaming in Big Media

By Beejoli Shah and Tom Dotan · Nov 20, 2019 7:01am PST

Late last year, as Disney’s streaming division discussed how to program Disney Plus, the service that launched last week, its team came up with a radical idea. They suggested moving reruns of Disney Channel shows off the cable outlet and putting them only on the streaming service, say people familiar with the situation.The idea prompted... Late last year, as Disney’s streaming division discussed how to program Disney Plus, the...

Hollywood producer Jason Blum with The Information's Jessica Lessin on Tuesday night. Photo by Erin Beach.

Hollywood Spending Boom Has at Least Two More Years, Says Producer Jason Blum

By Tom Dotan and Beejoli Shah · Nov 19, 2019 8:41pm PST

The usual rules of business economics don’t apply right now in Hollywood, as tech and media companies engage in a “land grab” for streaming subscribers by spending heavily on programming, Hollywood producer Jason Blum said on Tuesday. He predicted this period would last for another two to four years.New services, ranging from... The usual rules of business economics don’t apply right now in Hollywood, as tech and media...

Susanne Daniels. Photo by Bloomberg.

Airbnb Searching for TV Exec to Run Video Effort

By Jessica Toonkel, Beejoli Shah and Cory Weinberg · Nov 19, 2019 2:47pm PST

Susanne Daniels. Photo by Bloomberg.

Airbnb Searching for TV Exec to Run Video Effort

By Jessica Toonkel, Beejoli Shah and Cory Weinberg · Nov 19, 2019 2:47pm PST

Airbnb is looking to hire an experienced entertainment executive to oversee its video programming efforts as it seeks to diversify into making TV shows, according to two people familiar with the situation. The talent search signals that the travel company is committed to expanding into entertainment.Airbnb has approached a wide range of people... Airbnb is looking to hire an experienced entertainment executive to oversee its video programming...

Zuckerberg’s Anti-China Rhetoric Roils Facebook Employees

By Wayne Ma · Nov 19, 2019 7:01am PST

Facebook CEO Mark Zuckerberg’s Georgetown address about free speech last month drew skeptical commentary from many quarters. But for one group of Facebook workers—its community of Chinese employees—his comments touched a particularly sensitive nerve. Zuckerberg’s criticism of Chinese video app TikTok and China’s... Facebook CEO Mark Zuckerberg’s Georgetown address about free speech last month drew...

Fidelity’s Andy Boyd.

Fidelity Executive Who Backed Uber, WeWork, to Depart

By Kevin Dugan · Nov 18, 2019 2:31pm PST

Andy Boyd, a top executive at Fidelity who oversaw billions of dollars in investments into some of the largest companies in Silicon Valley, is leaving the mutual fund company at the end of the year. Boyd, a 15-year veteran of Fidelity who has been head of the global equity capital markets group since 2013, made his name at the mutual... Andy Boyd, a top executive at Fidelity who oversaw billions of dollars in investments into some...

Monashees CEO Eric Acher. Photo by Bloomberg

VC Firm’s New $280M Fund Shows Growing Investor Interest in Latin America

By Juro Osawa · Nov 18, 2019 10:01am PST · 2 comments

Monashees, Brazil’s biggest venture capital firm, has raised a new $280 million fund from ultra-wealthy individuals in Latin America as well as U.S. and Asian institutional investors, according to people familiar with the matter. It is one of the biggest VC funds ever to be raised in Latin America, where local startups are attracting some... Monashees, Brazil’s biggest venture capital firm, has raised a new $280 million fund from...

Photo by Bloomberg. Art by Jesse Howe

In Keith Rabois’ Silicon Valley, Nice Guys Finish Last

By Cory Weinberg and Zoë Bernard · Nov 18, 2019 7:01am PST

Photo by Bloomberg. Art by Jesse Howe

In Keith Rabois’ Silicon Valley, Nice Guys Finish Last

By Cory Weinberg and Zoë Bernard · Nov 18, 2019 7:01am PST

Keith Rabois, a prominent venture capital investor, has publicly blasted tech companies who take money linked to Saudi Arabia on the grounds that the kingdom discriminates against Jews, gays and women.Yet among the firms that have benefited from Saudi support is Opendoor, a tech-fueled real estate startup that Rabois helped found in 2014.... Keith Rabois, a prominent venture capital investor, has publicly blasted tech companies who take...

The IPO View From Morgan Stanley

By Jessica E. Lessin · Nov 16, 2019 7:45am PST

It is getting to be that time when we look back at 2019, which you may recall was supposed to be a banner year for tech IPOs. It’s fallen short of expectations on multiple fronts from the number of deals (well below last year) to how they are performing. We’ll have more to say on that in the coming weeks. A few weeks ago, I sat... It is getting to be that time when we look back at 2019, which you may recall was supposed to be...

The Information’s 411 — AR You Not Entertained?

By Tom Dotan · Nov 15, 2019 3:54pm PST

Nick talks about Apple's internal meeting about its augmented reality plans. Jessica Toonkel discusses Disney's big streaming launch and what comes next. Nick talks about Apple's internal meeting about its augmented reality plans. Jessica Toonkel...

Amazon CEO Jeff Bezos and JPMorgan Chase CEO Jamie Dimon. Photos by Bloomberg

Amazon Quietly Scrapped Checking Account Plans

By Priya Anand and Kevin Dugan · Nov 15, 2019 12:37pm PST

This week, Google confirmed that it will soon offer checking accounts to its users. But one of the company’s biggest rivals—Amazon—doesn’t appear to be joining it with a similar product anytime soon. After exploring a partnership with banks early last year to offer an Amazon-branded checking account, Amazon quietly... This week, Google confirmed that it will soon offer checking accounts to its users. But one of...

Illustration by Danielle Davis

Freemium Love: Tech Transforms Dating in San Francisco

By Zoë Bernard · Nov 15, 2019 7:00am PST · 4 comments

Illustration by Danielle Davis

Freemium Love: Tech Transforms Dating in San Francisco

By Zoë Bernard · Nov 15, 2019 7:00am PST · 4 comments

When a venture capitalist invited Jane Dinh, an entrepreneur in San Francisco, out for a second date a couple years ago, he had an unusual question for her. Would she be interested in pretending to be homeless with him for a night?The venture capitalist, whom Dinh met through a dating app, told her he wanted to see if he could “live with... When a venture capitalist invited Jane Dinh, an entrepreneur in San Francisco, out for a second...

Announcing TI Young Professionals Live

By Jessica E. Lessin · Nov 14, 2019 9:14am PST

I am thrilled to announce a brand new initiative for our subscribers who are earlier in their careers—free quarterly video conference calls on how to build your career in tech. As a founder and also a startup reporter for more than a decade, I have had a lot of exposure to the industry of consultants, coaches and recruiters who help... I am thrilled to announce a brand new initiative for our subscribers who are earlier in their...

Richard Yu, CEO of Huawei Technologies' consumer business, in September. Photo by Bloomberg

Huawei’s Google Problem Runs Deep

By Juro Osawa and Nick Bastone · Nov 14, 2019 7:02am PST · 2 comments

The world’s second largest smartphone maker is going to have a harder time divorcing Google than it thought. Huawei, the Chinese tech giant, has been scrambling for months to figure out how to sell its phones in international markets since U.S. sanctions blocked it from using Google’s mobile services. Huawei executives... The world’s second largest smartphone maker is going to have a harder time divorcing Google...

Disney Plus' introductory page. Photo by AP

Early Streaming Glitches Highlight Disney’s Tech Challenges

By Tom Dotan and Kevin McLaughlin · Nov 13, 2019 4:42pm PST

Disney’s revelation on Wednesday that it signed up 10 million subscribers for Disney Plus on its first day was as strong an indication as any that it will quickly become a formidable player in the streaming space—and also gave some explanation for its early technical woes.A few hours after launch on Tuesday morning, customers began... Disney’s revelation on Wednesday that it signed up 10 million subscribers for Disney Plus...

SoftBank CEO Masayoshi Son. Photo: AP

Masayoshi Son, WeWork Execs to Meet as Decisions Loom

By Cory Weinberg · Nov 13, 2019 2:04pm PST

SoftBank CEO Masayoshi Son. Photo: AP

Masayoshi Son, WeWork Execs to Meet as Decisions Loom

By Cory Weinberg · Nov 13, 2019 2:04pm PST

SoftBank CEO Masayoshi Son plans to visit WeWork’s San Francisco office Thursday as the company’s senior leadership discusses decisions including potential layoffs of thousands of employees. The leadership team also is expected to consider a financial plan to present to the company’s board of directors in the coming weeks,... SoftBank CEO Masayoshi Son plans to visit WeWork’s San Francisco office Thursday as the...