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

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...

Illustration by Danielle Davis

The Forbes ‘30 Under 30’ Hustle

By Zoë Bernard · Sep 25, 2019 7:00am PDT · 2 comments

Han Jin was in a panic. It was 2017 and the 29-year-old tech entrepreneur was saying goodbye to the final months of his third decade—and with them his dream of ever being selected for the Forbes 30 Under 30 list. In the days before online nominations for the list closed, Jin and the co-founders of his company—a virtual... Han Jin was in a panic. It was 2017 and the 29-year-old tech entrepreneur was saying goodbye to...

A WeWork location in Tokyo. Photo: Bloomberg

WeWork, Bankers Have Discussed Laying Off One-Third of Workforce

By Cory Weinberg · Sep 24, 2019 9:34am PDT · 5 comments

As WeWork investors jousted over Adam Neumann’s future at the company he built, a parallel debate by WeWork executives and bankers has centered on just how deeply WeWork should cut costs to save its business.In recent days, a group of executives from WeWork’s parent company and bankers have been discussing ways to reduce costs,... As WeWork investors jousted over Adam Neumann’s future at the company he built, a parallel...

Art by Sam Lessin

Modest Proposals

The Home Camera Wars

By Sam Lessin · Sep 24, 2019 7:01am PDT · 2 comments

Facebook’s announcement of their latest line of Portal screens last week is just the latest in a rapid-fire series of home-related releases from the major technology platforms recently. The race for control of the home—not just the living room—is very much on. As the home wars shape up, five key realities are becoming... Facebook’s announcement of their latest line of Portal screens last week is just the latest...

Why WeWork Needs Cash Fast

By Cory Weinberg · Sep 23, 2019 12:04pm PDT · 1 comment

Why WeWork Needs Cash Fast

By Cory Weinberg · Sep 23, 2019 12:04pm PDT · 1 comment

As WeWork’s board wrestles with the company’s future, the options on the table are shrinking. The cash that WeWork’s parent company We Co. has to spend freely would dwindle from about $1.9 billion to $400 million by next March if it doesn’t raise new outside funds and keeps spending at a similar pace, according to an... As WeWork’s board wrestles with the company’s future, the options on the table are...

Photo by Shutterstock

CloudKitchens’ Key Employees

By Amir Efrati · Sep 23, 2019 7:02am PDT

Here's a recent list of 45 key employees at City Storage Systems, also known as CloudKitchens. Here's a recent list of 45 key employees at City Storage Systems, also known as...

Inside Travis Kalanick’s ‘Bigger Than Uber’ Next Act

By Amir Efrati · Sep 23, 2019 7:00am PDT · 1 comment

Uber co-founder Travis Kalanick’s newest startup is known as CloudKitchens. But a better name might be WeWork for Food. Operating through a small startup he bought last year, and supported by hundreds of millions of dollars in loan facilities arranged with Goldman Sachs and other banks, Kalanick in the past 18 months has snapped up or... Uber co-founder Travis Kalanick’s newest startup is known as CloudKitchens. But a better...

WeWork CEO Adam Neumann. Photo by Bloomberg

WeWork Board to Meet Monday on Neumann’s Removal

By Cory Weinberg · Sep 22, 2019 2:32pm PDT · 4 comments

Directors of WeWork’s parent, We Co., are scheduled to meet Monday morning to discuss the potential removal of Adam Neumann as CEO, people familiar with the matter said. Board members brought forward the meeting from its earlier scheduled time of midweek, one of the people said, a sign that the board feels a sense of urgency to resolve the... Directors of WeWork’s parent, We Co., are scheduled to meet Monday morning to discuss the...

Inside SoftBank’s Big CEO-Fest

By Jessica E. Lessin · Sep 21, 2019 9:12am PDT · 1 comment

Inside SoftBank’s Big CEO-Fest

By Jessica E. Lessin · Sep 21, 2019 9:12am PDT · 1 comment

These days, SoftBank founder Masayoshi Son can’t escape WeWork. He can’t escape the headlines revealing his desire for the company to put the brakes on its troubled IPO. He can’t even escape his own friends doubting the value of his nearly $9 billion investment in the company.So it isn’t a surprise that the topic hung... These days, SoftBank founder Masayoshi Son can’t escape WeWork. He can’t escape the...