The Briefing by Martin Peers, Jessica Lessin and the team at The Information

Five times/week

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.

By providing your email, you agree to The Information’s Privacy Policy

Recent Editions

Paytm CEO Vijay Shekhar Sharma. Photo: Bloomberg

Once-Dominant Paytm Stalls in India

By Juro Osawa · Jan 27, 2020 7:00am PST · 4 comments

Last July, at a SoftBank conference in Tokyo, CEO Masayoshi Son brought on stage Vijay Shekhar Sharma, the founder of Indian startup Paytm. Son described Paytm as the “uncontested No. 1” payment service in India. SoftBank had invested $1.4 billion in the startup, helping to fuel India’s mobile payment boom a few years... Last July, at a SoftBank conference in Tokyo, CEO Masayoshi Son brought on stage Vijay Shekhar...

Jeff Bezos. Photo by Bloomberg

Jeff Bezos and the Real Cost of the Washington Post

By Nick Wingfield · Jan 25, 2020 7:46am PST

This week’s blockbuster revelations about the possible role of Saudi Arabia’s crown prince in the hacking of Jeff Bezos’ phone was a literal eye-popper of a story. It raised so many troubling questions about technology, politics and business. For me though, it was a moment for reflection on a tangential story: how differently... This week’s blockbuster revelations about the possible role of Saudi Arabia’s crown...

A Galvanize workspace. Photo by Shutterstock

Coding Bootcamp Galvanize Agrees to $165 Million Acquisition

By Kate Clark · Jan 24, 2020 6:21pm PST

A wave of consolidation in the education technology market appears set to continue this year. K12 Inc., a publicly-traded education company, has agreed to acquire Galvanize, a provider of coding bootcamps and co-working spaces across eight locations in the U.S., for $165 million in cash, according to an email addressed to Galvanize... A wave of consolidation in the education technology market appears set to continue this...

The Information’s 411 — Initial Private Offering

By Tom Dotan · Jan 24, 2020 3:25pm PST

The Information’s 411 — Initial Private Offering

By Tom Dotan · Jan 24, 2020 3:25pm PST

This week we took a behind-the-scenes look at IPOs, and how companies try to get banks to become clients in order to win the account. Kevin Dugan and Priya explained the story of ZScaler, which tried to get a collection of customers in the banking syndicate that underwrites the IPO. It’s not an uncommon occurrence these days. And it raises... This week we took a behind-the-scenes look at IPOs, and how companies try to get banks to become...

Subscriber Video Call

2030’s Big Business: Tech or Something Else?

By The Information Staff · Jan 24, 2020 1:35pm PST · 1 comment

On Friday morning, O’Reilly Media founder Tim O’Reilly and Sam Lessin, co-founder of Fin and a partner at Slow Ventures, hosted a live conference call to discuss the next decade in tech. They began by following up on Lessin’s 2030 predictions. While there were some areas of agreement, the two columnists, investors and... On Friday morning, O’Reilly Media founder Tim O’Reilly and Sam Lessin, co-founder of...

Larry Ingrassia. Photo by Vicki Ingrassia

Q&A

The Secret to Success in the Direct-to-Consumer Market

By Priya Anand · Jan 24, 2020 7:00am PST · 5 comments

When mattress maker Casper filed paperwork to go public earlier this month, it said it had lost $92 million in 2018 and was on track to lose more than that in 2019. But that’s not how direct-to-consumer startups have to operate, according to the author of a new book on the industry. He says at least two of Casper’s mattress startup... When mattress maker Casper filed paperwork to go public earlier this month, it said it had lost...

Lambda School CEO Austen Allred. Photo courtesy of Lambda; Illustration by Mike Sullivan

Lambda School’s Growing Pains: Big Buzz, Student Complaints

By Kate Clark · Jan 23, 2020 10:51am PST · 6 comments

Silicon Valley has no shortage of companies promising to disrupt higher education with technology. The buzziest of them all may be Lambda School, a company that provides free coding courses in exchange for a cut of its students’ future incomes.The online school has won a following among high-profile investors, who see Lambda as a way to... Silicon Valley has no shortage of companies promising to disrupt higher education with...

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

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 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

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

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

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

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 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....