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

Former CEO of WeWork, Adam Neumann. Photo by Reuters.

‘The Crew Was Not Tipped’: The Fallout From WeWork’s Excesses

By Cory Weinberg and Jessica E. Lessin · Oct 3, 2019 10:03am PDT · 1 comment

Even though it was an early flight, Adam Neumann’s airplane was stocked with champagne and Don Julio 42 tequila. Neumann, along with his personal assistant, a WeWork real estate executive, a pair of architects and a rabbi who was close to Neumann were flying to Mexico City in June 2015. It was a year before the company opened its first... Even though it was an early flight, Adam Neumann’s airplane was stocked with champagne and...

The People With Power at Facebook

By Alex Heath · Oct 3, 2019 7:00am PDT

Facebook’s burgeoning hardware group, its digital currency team and the executives leading Instagram are among the highlights of this updated org chart for the company, which identifies roughly 180 of the most senior people at Facebook. The chart—which is based on Facebook’s internal org chart and supplemented by additional... Facebook’s burgeoning hardware group, its digital currency team and the executives leading...

Turnaround at Snap, Twitter Could Pose Challenge for Facebook Antitrust Case

By Tom Dotan · Oct 2, 2019 10:36am PDT · 1 comment

Sen. Elizabeth Warren’s claim on Tuesday that Facebook has “bulldozed competition” reflects a view that is driving an antitrust investigation into the social network giant. It’s a little ironic, then, that two of Facebook’s highest-profile rivals, Snap and Twitter, have lately been doing better than they have in a... Sen. Elizabeth Warren’s claim on Tuesday that Facebook has “bulldozed...

Blockchain CEO Peter Smith. Photo: Bloomberg

Executive Departures Roil Crypto Firm Blockchain

By Jon Victor · Oct 2, 2019 7:02am PDT · 1 comment

Blockchain CEO Peter Smith. Photo: Bloomberg

Executive Departures Roil Crypto Firm Blockchain

By Jon Victor · Oct 2, 2019 7:02am PDT · 1 comment

Five years ago, the cryptocurrency startup Blockchain was seen as a rising star within the burgeoning field. Equipped with a conspicuous name and a practical-sounding plan to help consumers store crypto assets, it attracted $70 million in venture capital over several years from prominent funders.But behind the scenes, the London-based startup... Five years ago, the cryptocurrency startup Blockchain was seen as a rising star within the...

Rubrik CEO Bipul Sinha, left, and Rubrik adviser and former Cisco CEO John Chambers. Photo by Bloomberg

Big Tech Firm Eyed Rubrik As Possible Acquisition

By Kevin McLaughlin and Zoë Bernard · Oct 1, 2019 2:24pm PDT · 1 comment

Rubrik, a startup backed by Silicon Valley luminaries that makes software for managing and recovering data, has had an approach from at least one large technology company about selling itself, according to one person with direct knowledge of the matter. The two companies held preliminary discussions that were underway sometime around... Rubrik, a startup backed by Silicon Valley luminaries that makes software for managing and...

A WeWork office in New York. Photo by Bloomberg

WeWork Puts Two More Businesses Up for Sale

By Cory Weinberg · Oct 1, 2019 1:33pm PDT · 1 comment

WeWork is putting two more recently acquired companies up for sale as it looks to raise cash, according to two people familiar with the matter. The latest on the block: Teem, which provides conference room scheduling software, and SpaceIQ, which makes workplace management software. WeWork bought Teem last fall for $94 million in cash, while... WeWork is putting two more recently acquired companies up for sale as it looks to raise cash,...

A Didi branch office in China. Photo by AP

Uber’s Stock Drop Weighs on Didi Chuxing’s Valuation

By Yunan Zhang, Shai Oster and Juro Osawa · Oct 1, 2019 7:01am PDT

Uber’s disappointing IPO and WeWork’s recent implosion are casting a shadow over another of SoftBank’s big bets: Chinese ride-hailing giant Didi Chuxing.Some of Didi’s existing shareholders are looking to sell their stakes on the secondary market at much lower prices than the company’s most recent $57 billion... Uber’s disappointing IPO and WeWork’s recent implosion are casting a shadow over...

Our 2019 Subscriber Summit Roundtables

By The Information Staff · Sep 30, 2019 5:11pm PDT · 1 comment

Subscriber Summit

Our 2019 Subscriber Summit Roundtables

By The Information Staff · Sep 30, 2019 5:11pm PDT · 1 comment

We’re excited to see everyone on October 17 at our signature event, The Information’s Fifth Annual Subscriber Summit. An important part of the Summit are our topical breakout lunch sessions. At this year’s event, we’ll be curating the lunch tables, based on who we think you’ll enjoy meeting. You’ll receive... We’re excited to see everyone on October 17 at our signature event, The Information’s...

The Secret Weapon in the Streaming Wars

By Beejoli Shah · Sep 30, 2019 7:00am PDT · 5 comments

If the success of a streaming service were to be purely determined by its cache of popular old TV shows, Disney would be hard to beat. Its recent purchase of Fox’s TV studio means it owns more of the most popular TV shows from the past couple of decades than anyone else, according to an analysis by The Information. But almost as strong... If the success of a streaming service were to be purely determined by its cache of popular old TV...

Three Lessons From WeWork

By Jessica E. Lessin · Sep 28, 2019 7:47am PDT · 2 comments

The very rapid fall of WeWork founder Adam Neumann who, just a week ago, was on top of a company that investors once valued as high as $47 billion has been notable but not surprising to anyone who has been following the story. That’s because WeWork’s rise represented all that is right (and, more importantly) wrong with the... The very rapid fall of WeWork founder Adam Neumann who, just a week ago, was on top of a company...

The Information’s 411 — Thirsty Under Thirty

By Tom Dotan · Sep 27, 2019 3:27pm PDT

Zoë gives a behind the scenes look at how and why people lobby to be on Forbes' 30-Under-30 list. Cory gives the rundown on WeWork's crazy week. Zoë gives a behind the scenes look at how and why people lobby to be on Forbes'...

A WeWork space in Tokyo. Photo by Bloomberg

As WeWork Rethinks Expansion, Landlords Hesitate on Deals

By Cory Weinberg · Sep 27, 2019 10:47am PDT

A WeWork space in Tokyo. Photo by Bloomberg

As WeWork Rethinks Expansion, Landlords Hesitate on Deals

By Cory Weinberg · Sep 27, 2019 10:47am PDT

Harvest Properties, an Oakland, Calif.–based property developer, has always been cautious about the risks of leasing space to WeWork. But in recent months it had overcome those concerns and—until this week—was close to striking its biggest deal yet with the co-working giant. Harvest was going to lease hundreds of thousands of... Harvest Properties, an Oakland, Calif.–based property developer, has always been cautious...

Troubled IPOs Raise Questions for Future Deals

By Carleton English · Sep 27, 2019 9:21am PDT

What was expected to be a bumper year for tech IPOs has turned sour.The sharp drop in Peloton Interactive shares on the stock’s opening day Thursday, the same day Endeavor canceled its IPO and a week after WeWork postponed its offering, confirmed what Uber and Lyft discovered this past spring—public market investors are wary of... What was expected to be a bumper year for tech IPOs has turned sour.The sharp drop in Peloton...

Google Hires Republican Staffer as Chief Washington Lobbyist

By Ashley Gold · Sep 27, 2019 7:24am PDT

Google has hired Mark Isakowitz, Republican Sen. Rob Portman’s chief of staff, to be its chief lobbyist in Washington, D.C., a person familiar with the matter said.The high-profile hire comes at a time when Google is under immense pressure in Washington, with an antitrust probe at the Department of Justice, a congressional inquiry into... Google has hired Mark Isakowitz, Republican Sen. Rob Portman’s chief of staff, to be its...

JR Rivers. Photo courtesy of Cumulus

AWS Taps Ex-Cisco Exec to Drive Networking Push

By Kevin McLaughlin · Sep 27, 2019 7:00am PDT · 1 comment

In the latest sign of Amazon Web Services’s efforts to develop its own networking technology—used for routing data around the world—the cloud computing giant has hired a technology industry veteran who helped jumpstart the industry trend of do-it-yourself networking hardware. JR Rivers, a onetime Cisco executive who later... In the latest sign of Amazon Web Services’s efforts to develop its own networking...

The Information’s 411 — Why Publishers Are Skeptical of Working With Tech

By The Information · Sep 26, 2019 5:02pm PDT

The Information’s 411 — Why Publishers Are Skeptical of Working With Tech

By The Information · Sep 26, 2019 5:02pm PDT

Jessica Lessin, editor-in-chief of The Information, interviewed Wired Editor-in-Chief Nick Thompson at our media business bootcamp earlier this month. Jessica Lessin, editor-in-chief of The Information, interviewed Wired Editor-in-Chief Nick...

DAZN Executive Chairman John Skipper.

Q&A

Former ESPN Chief Skipper on the Future of Cable Sports and Role of Streaming

By Jessica Toonkel · Sep 26, 2019 7:01am PDT · 1 comment

ESPN’s former chief John Skipper, now running a global streaming service focused on sports, remains bullish on the future of national cable services like those run by his former employer. But he is pessimistic about regional sports channels, those broadcasting local baseball and other sports, which he says face a “fierce... ESPN’s former chief John Skipper, now running a global streaming service focused on sports,...

Photo by Bloomberg

China’s ByteDance in Talks to Sell Its Overseas News App

By Juro Osawa, Shai Oster and Carleton English · Sep 25, 2019 11:14pm PDT

China’s ByteDance, whose TikTok video app has taken the U.S. by storm, is trying to sell its overseas news and entertainment app, called TopBuzz, people familiar with the matter said.ByteDance is in talks with a handful of potential buyers, including U.S.-based media companies, the people said. It remains unclear whether the discussions,... China’s ByteDance, whose TikTok video app has taken the U.S. by storm, is trying to sell...

Photo by Bloomberg

WeWork Puts Three Businesses Up for Sale

By Cory Weinberg · Sep 25, 2019 1:26pm PDT

WeWork will try to sell three companies it had acquired in the last few years that handle office cleaning services, group meetups and marketing services, according to two people familiar with the matter. It is a sign that the co-working space provider’s new management is moving aggressively to cut costs and raise cash.News of the proposed... WeWork will try to sell three companies it had acquired in the last few years that handle office...

WeWork's former CEO Adam Neumann and his wife Rebekah. Photo by AP

Neumann’s Downfall Upends WeWork’s Tight Leadership Circle

By Cory Weinberg · Sep 25, 2019 1:03pm PDT

WeWork's former CEO Adam Neumann and his wife Rebekah. Photo by AP

Neumann’s Downfall Upends WeWork’s Tight Leadership Circle

By Cory Weinberg · Sep 25, 2019 1:03pm PDT

Adam Neumann ran WeWork as something of a family-and-friends affair. Of the 20 or so executives who reported to him, half a dozen were either family members or close friends, including his wife Rebekah. With his departure on Tuesday as CEO, the future of many of those close associates is now in doubt.Already his wife, who only recently was... Adam Neumann ran WeWork as something of a family-and-friends affair. Of the 20 or so executives...