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

David Cicilline. Photo by Bloomberg.

Top Lawmaker Probing Tech Plans New Legislation

By Ashley Gold · Jul 26, 2019 7:00am PDT · 2 comments

Big tech companies don’t get a free pass on antitrust scrutiny just because their products are popular.So says Rep. David Cicilline, the Democrat from Rhode Island leading a wide-ranging House antitrust probe into major technology companies such as Amazon, Apple, Facebook and Google. In an interview with The Information, Mr. Cicilline said... Big tech companies don’t get a free pass on antitrust scrutiny just because their products...

Scale CEO Alexandr Wang. Photo by Erin Beach

Supplier to Self-Driving Car Makers Nears Financing at $1 Billion Valuation

By Zoë Bernard and Amir Efrati · Jul 25, 2019 11:18am PDT

Driverless cars may be years away from being practical, but a key independent supplier of software to the self-driving vehicle industry, Scale, is having a breakout moment with investors as its business booms. The company is nearing the completion of a new round of financing led by Founders Fund, the venture firm co-founded by... Driverless cars may be years away from being practical, but a key independent supplier of...

Amazon Studios Chief Jennifer Salke. Photo by AP

Inside Amazon’s Struggles to Make its Mark in Hollywood

By Beejoli Shah and Tom Dotan · Jul 25, 2019 7:01am PDT · 1 comment

Earlier this year, two senior executives in Amazon’s TV business, Vernon Sanders and Albert Cheng, gathered the division’s top television staffers and delivered some difficult news: Amazon Studios had committed most of its budget for 2019, and no new projects could start unless existing projects were delayed or canceled, according to... Earlier this year, two senior executives in Amazon’s TV business, Vernon Sanders and Albert...

Facebook CEO Mark Zuckerberg. Photo by Bloomberg

FTC Deal with Facebook Sparks Skepticism

By Ashley Gold, Christopher Stern and Alex Heath · Jul 24, 2019 2:59pm PDT · 2 comments

Facebook CEO Mark Zuckerberg. Photo by Bloomberg

FTC Deal with Facebook Sparks Skepticism

By Ashley Gold, Christopher Stern and Alex Heath · Jul 24, 2019 2:59pm PDT · 2 comments

Facebook and the Federal Trade Commission had a consistent message about the privacy settlement they announced Wednesday: It was a historic deal that will significantly change how the social media company conducts itself in the future. Both parties have a lot of persuading to do to convince critics. While the $5 billion fine Facebook... Facebook and the Federal Trade Commission had a consistent message about the privacy settlement...

Mike Sullivan

Crypto Newsletter

Lawsuit Alleges Financial Irregularities at Token

By Jon Victor · Jul 24, 2019 12:04pm PDT

A highly anticipated lunch between Warren Buffett and members of the crypto industry was postponed this week, in dramatic fashion. Justin Sun, the creator of the Tron blockchain, made waves last month when he won a charity auction for the chance to dine with the Oracle of Omaha. The waves spread when, earlier this week, Mr. Sun unexpectedly... A highly anticipated lunch between Warren Buffett and members of the crypto industry was...

Lumi Labs co-founder Marissa Mayer in January. Photo by Bloomberg

Marissa Mayer’s Lumi Labs Working on Contacts App

By Aaron Tilley and Jessica E. Lessin · Jul 24, 2019 7:01am PDT · 2 comments

Marissa Mayer, the former Yahoo CEO and early Google employee, has joined a wave of new entrepreneurs seeking to reinvent basic software tools aimed at making people more productive. Ms. Mayer’s new startup, Lumi Labs, is building a suite of such “productivity” apps, starting with software for managing contacts, which is... Marissa Mayer, the former Yahoo CEO and early Google employee, has joined a wave of new...

Facebook Secret Research Warned of ‘Tipping Point’ Threat to Core App

By Alex Heath · Jul 23, 2019 10:14am PDT · 5 comments

Last October, after spending almost a year examining trends among Facebook users, a senior data scientist at the company named Tom Cunningham painted a bleak picture of one possible future for its flagship Facebook app.At the time, Facebook noticed that users of the app—known internally as the “blue app” because of the color of... Last October, after spending almost a year examining trends among Facebook users, a senior data...

Salesforce CEO Marc Benioff. Photo by Bloomberg.

Why Salesforce Stock Has Lost its Edge

By Ross Matican · Jul 23, 2019 7:01am PDT

Salesforce CEO Marc Benioff. Photo by Bloomberg.

Why Salesforce Stock Has Lost its Edge

By Ross Matican · Jul 23, 2019 7:01am PDT

Salesforce, once the fast-moving disrupter of the enterprise software sector, is showing its age.After years of outperforming the broader tech sector, Salesforce shares are up just 6% in the past six months while the Nasdaq is up 17%. That likely reflects a worry among investors that a slowing growth rate is prompting Salesforce to make bigger... Salesforce, once the fast-moving disrupter of the enterprise software sector, is showing its age....

Art by Sam Lessin

Modest Proposals

On Inequality and Risk Capacity

By Sam Lessin · Jul 22, 2019 10:02am PDT · 7 comments

One of the most important social questions of the next few decades is clearly going to be how we respond as a society to the overt growing inequality in the United States.As this discussion becomes more mainstream, the narrative that gets shared blames some combination of technology (which gives more leverage to individuals than ever before) and... One of the most important social questions of the next few decades is clearly going to be how we...

Coinbase CEO Brian Armstrong. Photo by Bloomberg

Inside Coinbase’s Executive Turmoil: Conflicting Visions

By Jon Victor · Jul 22, 2019 7:00am PDT · 4 comments

In late 2017, with prices of cryptocurrencies like bitcoin surging, Coinbase CEO Brian Armstrong faced a tough choice: Would his company, the leading U.S. cryptocurrency exchange, become more like a traditional financial services company or would it lean into the industry’s wild side?In the end, Mr. Armstrong hired deputies who pursued... In late 2017, with prices of cryptocurrencies like bitcoin surging, Coinbase CEO Brian Armstrong...

The Information’s 411 — Supply Chain Gang

By Tom Dotan · Jul 19, 2019 3:04pm PDT

Wayne dives into the world of leakers in Apple's supply chain and how the company fought back. Alex talks about his profile of David Marcus and gives recaps his testimony in front of congress. Wayne dives into the world of leakers in Apple's supply chain and how the company fought...

Cisco CEO Chuck Robbins. Photo by Bloomberg

Cisco In Talks to Buy Cybersecurity Startup Signal Sciences

By Kevin McLaughlin · Jul 19, 2019 12:41pm PDT

Cisco CEO Chuck Robbins. Photo by Bloomberg

Cisco In Talks to Buy Cybersecurity Startup Signal Sciences

By Kevin McLaughlin · Jul 19, 2019 12:41pm PDT

Cisco Systems is in talks to buy cybersecurity startup Signal Sciences, the latest sign of Cisco’s efforts to expand in cybersecurity, according to several people familiar with the talks.Signal Sciences develops software that protects applications running in private data centers and on cloud providers from attacks. The 5-year-old... Cisco Systems is in talks to buy cybersecurity startup Signal Sciences, the latest sign of...

A Louis Vuitton handbag and sunglasses. Photo by Bloomberg

As Fashion Marketplaces Soar, a Bumpy Road for Tradesy

By Priya Anand · Jul 19, 2019 7:01am PDT

Online marketplaces for buying and selling used Gucci handbags, Prada dresses and other secondhand designer goods are finally coming into their own. One of them, The RealReal, had a hit initial public offering last month and is now valued at more than $2 billion. Another, Poshmark, is reportedly preparing for an IPO of its own as early as this... Online marketplaces for buying and selling used Gucci handbags, Prada dresses and other...

Notion Labs COO Akshay Kothari. Photo by Bloomberg

Collaboration App Notion Labs Hits $800 Million Valuation in New Funding

By Amir Efrati · Jul 18, 2019 6:22pm PDT · 4 comments

A task-management and note-taking app maker called Notion Labs is raising $10 million at a paper valuation of $800 million in what it calls an “angel round,” according to a person with knowledge of the matter. Notion is part of a crowded field of “productivity” tools designed for business use that have drawn intense... A task-management and note-taking app maker called Notion Labs is raising $10 million at a paper...

Jobs@TheInformation

Be Our Head of Marketing!

By The Information Staff · Jul 18, 2019 12:12pm PDT

The Information is one of the largest media subscription businesses, focusing on quality journalism about the technology industry and the businesses it is disrupting.We have been recognized as a news disruptor by organizations like Vanity Fair, Business Insider and Fast Company, and our journalism has won numerous awards. We believe we are only... The Information is one of the largest media subscription businesses, focusing on quality...

Marcos Leta. Photo courtesy of Fazenda Futuro.

This Startup Wants to be Beyond Meat of Brazil

By Juro Osawa · Jul 18, 2019 10:01am PDT · 1 comment

Marcos Leta. Photo courtesy of Fazenda Futuro.

Startup of the Week

This Startup Wants to be Beyond Meat of Brazil

By Juro Osawa · Jul 18, 2019 10:01am PDT · 1 comment

In the U.S., investors are salivating over plant-based burgers. Beyond Meat has seen its market capitalization more than double to $10 billion since it went public in May. Now, the meatless meat mania is starting to spread to other parts of the world. And that’s what Brazilian entrepreneur Marcos Leta is betting on.Mr. Leta’s... In the U.S., investors are salivating over plant-based burgers. Beyond Meat has seen its market...

The People With Power at Amazon Web Services

By Amir Efrati and Kevin McLaughlin · Jul 18, 2019 7:01am PDT

Since Amazon stumbled into the cloud computing business 13 years ago, its Amazon Web Services division has soared to more than $25 billion in annual sales, accounting for nearly 59% of the internet retailer’s operating income. In contrast, it has taken Salesforce—no slouch in the cloud computing business—nearly two decades to... Since Amazon stumbled into the cloud computing business 13 years ago, its Amazon Web Services...

Mike Sullivan

Crypto Newsletter

Lawmakers Grapple With How to Rein In Libra

By Jon Victor · Jul 17, 2019 1:11pm PDT

Greetings from Washington, D.C. The price of bitcoin took a slight hit this week, after Facebook’s David Marcus testified at two hearings on Capitol Hill about the social media giant’s plans for Libra. Mr. Marcus, whom we profiled this week, fielded questions on a variety of topics, from how Facebook would stop Libra from being used... Greetings from Washington, D.C. The price of bitcoin took a slight hit this week, after...

Luther Lowe. Photo courtesy of Yelp.

In Google Fight, Yelp’s Antitrust Crusader Now Has Company

By Ashley Gold · Jul 17, 2019 10:01am PDT

Luther Lowe, Yelp’s head of public policy, for years has sought to convince regulators that Google had been allowed to become too powerful and should be reined in. For just as long, regulators largely ignored his complaints. But now Mr. Lowe concedes that Yelp might have been going about things the wrong way.In an interview with The... Luther Lowe, Yelp’s head of public policy, for years has sought to convince regulators that...

Art by Danielle Davis

Inside Apple Factory Thefts: Secret Tunnels, Hidden Crawl Spaces

By Wayne Ma · Jul 17, 2019 7:01am PDT

Art by Danielle Davis

Inside Apple Factory Thefts: Secret Tunnels, Hidden Crawl Spaces

By Wayne Ma · Jul 17, 2019 7:01am PDT

Six years ago, a warehouse employee at one of Apple’s top suppliers, Jabil, stole thousands of iPhone 5C casings from a factory in China before the product was announced. The employee, with help from a security guard, falsified documents and avoided security cameras as he drove a truck filled with the candy-colored shells out of the gates,... Six years ago, a warehouse employee at one of Apple’s top suppliers, Jabil, stole thousands...