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

Actress Jamie Clayton from "Sense8" at a screening for the show in Los Angeles last June. Photo by AP

As Netflix Cancels Shows Faster, Fan Favorites Quickly Disappear

By Beejoli Shah · Mar 18, 2019 2:29pm PDT · 6 comments

After Netflix cancelled the Naomi Watts drama “Gypsy” in 2017, a group of fans calling themselves “Easy Tigers” organized a social media campaign to get people to start watching the show in hopes of changing Netflix executives’ minds. The campaign was so organized that it directed people to watch specific episodes... After Netflix cancelled the Naomi Watts drama “Gypsy” in 2017, a group of fans...

An employee makes a bed at an Oyo-branded property in Bangalore, India. Photo: Bloomberg

Airbnb Mulls Big Investment in Indian Hotel Startup

By Cory Weinberg · Mar 18, 2019 1:26pm PDT

Airbnb is contemplating another big step into the hotel business, this time in India and China. The travel giant is in discussions to invest in Indian hotel management startup Oyo, two people familiar with the matter said. If completed, the investment would likely be in the $100 million to $200 million range, one of the people said. It comes... Airbnb is contemplating another big step into the hotel business, this time in India and China. ...

Art by Sam Lessin

Modest Proposals

The Cost and Risk of Regulations That Make Information ‘Own-able’

By Sam Lessin · Mar 18, 2019 6:32am PDT · 8 comments

The internet is forcing us to engage with a far broader definition of the economy than in the past. Instead of thinking of the economy primarily in terms of physical goods and services, the internet is putting front and center a fuller picture of the economy—including other forms of value and trade, such as information and social, moral... The internet is forcing us to engage with a far broader definition of the economy than in the...

Bargain Shopping App Wish in Talks to Raise $300 Million

By Yunan Zhang and Juro Osawa · Mar 18, 2019 12:08am PDT

Bargain Shopping App Wish in Talks to Raise $300 Million

By Yunan Zhang and Juro Osawa · Mar 18, 2019 12:08am PDT

Ecommerce startup Wish is in talks with private equity firm General Atlantic and other investors to raise about $300 million in a new funding round, people familiar with matter said.The fundraising, which hasn’t yet closed, values the San Francisco-based company at about $11 billion pre-money, higher than its previous valuation of $8.5... Ecommerce startup Wish is in talks with private equity firm General Atlantic and other investors...

House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer unveil the Save the Internet Act earlier in March. Photo by AP.

Behind Washington’s Net Neutrality Debate: Deep Pockets

By Christopher Stern · Mar 16, 2019 7:46am PDT · 3 comments

Sometime in the next two weeks, a billboard is set to pop up at a busy intersection in downtown Phoenix accusing Arizona Senator Kyrsten Sinema of “corruption.” Her supposed crime: she doesn’t support the “Save The Internet Act,” a bill that would codify into law the Net Neutrality rules revoked by the Trump... Sometime in the next two weeks, a billboard is set to pop up at a busy intersection in downtown...

The Information’s 411 — Tales From the Encrypt

By Priya Anand · Mar 15, 2019 5:03pm PDT

Sarah talks about Google's ad business and executive departures at Facebook as it pivots to focus on private encrypted messaging. Cory describes the growing pains faced by scooter companies. Sarah talks about Google's ad business and executive departures at Facebook as it pivots to...

A visitor to a Facebook stand at an exhibition in Shanghai last November. Photo by AP

Facebook’s Top Representative in China Leaves Firm

By Wayne Ma and Sarah Kuranda · Mar 15, 2019 4:09pm PDT

Facebook’s chief representative in China left the company earlier this year, according to people familiar with the matter, after a series of corporate missteps that led to a deterioration of relations between Facebook and the Chinese government.The previously unreported departure of Ivy Zhang leaves Facebook with one government affairs... Facebook’s chief representative in China left the company earlier this year, according to...

Chris Cox. Photo by Bloomberg.

Why Is Facebook’s Encrypted Messaging Plan Roiling the Company?

By Sarah Kuranda and Nick Wingfield · Mar 15, 2019 10:20am PDT · 3 comments

Chris Cox. Photo by Bloomberg.

Why Is Facebook’s Encrypted Messaging Plan Roiling the Company?

By Sarah Kuranda and Nick Wingfield · Mar 15, 2019 10:20am PDT · 3 comments

One thing was clear in Chris Cox’s note to Facebook employees announcing his resignation on Thursday: The company’s chief product officer was not enthused about its new focus on building an encrypted, interoperable messaging network. “This will be a big project and we will need leaders who are excited to see the new direction... One thing was clear in Chris Cox’s note to Facebook employees announcing his resignation on...

Art by Mike Sullivan

After Time Warner and Fox Sales, Entertainment Veterans Flood Job Market

By The Information Staff · Mar 15, 2019 6:31am PDT · 1 comment

Two mega-entertainment deals, Disney’s $71 billion purchase of 21st Century Fox’s entertainment businesses and AT&T’S purchase of Time Warner, are putting a lot of veteran media executives on the job market. Just last week, AT&T announced the integration of the former Time Warner’s three main businesses, prompting... Two mega-entertainment deals, Disney’s $71 billion purchase of 21st Century Fox’s...

Bird scooters parked in Detroit. Photo: Bloomberg

Bird Lays Off Dozens of Employees

By Cory Weinberg · Mar 14, 2019 1:59pm PDT

Bird, the pioneer of the electric scooter sector, laid off 4% to 5% of its full-time staff on Thursday, in an effort to contain costs. About 40 employees of the roughly 900-person company were let go.The layoffs represent a comedown for a startup that flew to a $2 billion valuation last year within nine months of launching. The company helped... Bird, the pioneer of the electric scooter sector, laid off 4% to 5% of its full-time staff on...

Media Job Cuts Rise as Sector Retrenchment Persists

By The Information Staff · Mar 14, 2019 12:19pm PDT

Media job cuts rose in February, driven by reductions at news publishers and video game maker Activision Blizzard, as retrenchment in the sector persisted for a second month in 2019 and extended last year’s run of industry cutbacks.In total, 1,530 media job cuts were announced last month, up from 1,279 in January, according to data from... Media job cuts rose in February, driven by reductions at news publishers and video game maker...

Think Being an Apple Supplier Is a Boon? Not so Fast.

By Wayne Ma · Mar 14, 2019 6:31am PDT

Think Being an Apple Supplier Is a Boon? Not so Fast.

By Wayne Ma · Mar 14, 2019 6:31am PDT

As Apple goes, so go its suppliers—but worse. Share prices for top companies that make parts for Apple products declined far more than Apple’s own stock did last year, dropping by an average of 23% from the year before when compared with only 5% for Apple shares, according to an analysis by The Information. The same analysis shows... As Apple goes, so go its suppliers—but worse. Share prices for top companies that make...

Mike Sullivan

Crypto Newsletter

Binance Coin Bucks the Trend

By Jon Victor · Mar 13, 2019 12:36pm PDT · 3 comments

Cryptocurrency prices haven’t gained much ground in recent months, but sentiment seems to be improving as people forget the crazy highs. Industry insiders say the focus now is on developing products—from games to digital collectibles to advanced blockchains—that they feel have long-term legs.Still, one cryptocurrency has bucked... Cryptocurrency prices haven’t gained much ground in recent months, but sentiment seems to...

John Giannandrea, now head of Apple's AI efforts, in 2017. Photo by Bloomberg

Apple Acquires Machine Learning Startup in Boost for AI Group

By Aaron Tilley · Mar 13, 2019 11:57am PDT

Apple has acquired Laserlike, a small Silicon Valley-based machine learning startup, which could help strengthen the company’s artificial intelligence efforts, including its Siri virtual assistant, The Information has learned. An Apple spokesperson confirmed the acquisition of the four-year-old startup, which was founded by three former... Apple has acquired Laserlike, a small Silicon Valley-based machine learning startup, which could...

The People With Power at Google Advertising

By Sarah Kuranda · Mar 13, 2019 6:30am PDT

For years, Google has been the top dog in internet advertising, with Facebook not far behind. But now an interloper in the ad market, Amazon, is attracting growing attention from the leaders of Google’s ad group—more than 50 of whom are shown in the chart accompanying this story. Google’s salespeople have even started... For years, Google has been the top dog in internet advertising, with Facebook not far behind. But...

Vice CEO Nancy Dubuc. Photo by Bloomberg.

Vice Looks to Raise Money After Rough Year

By Tom Dotan and Jessica Toonkel · Mar 12, 2019 12:46pm PDT

Vice CEO Nancy Dubuc. Photo by Bloomberg.

Vice Looks to Raise Money After Rough Year

By Tom Dotan and Jessica Toonkel · Mar 12, 2019 12:46pm PDT

Vice Media is looking to raise a new round of financing of up to $200 million, which the company hopes will give it enough cash to reach its goal of becoming profitable in the next 12 months, according to people familiar with the situation. The news of the search for funding, which could be through a mix a debt and equity, comes weeks after the... Vice Media is looking to raise a new round of financing of up to $200 million, which the company...

Kevin Durant, left, and Sarah Flynn. Photos by Bloomberg and courtesy of Thirty Five Ventures.

Q&A

In Producing for Apple and Disney, Warriors’ Durant Wants Ownership

By Beejoli Shah · Mar 12, 2019 10:02am PDT · 1 comment

The proliferation of new streaming services, from Netflix to Apple, is creating a demand for content from all arenas—including the basketball court. Los Angeles Laker LeBron James has set up a film and television deal at WarnerMedia, and Boston Celtics player Kyrie Irving was a producer on Lionsgate’s recent film, “Uncle... The proliferation of new streaming services, from Netflix to Apple, is creating a demand for...

Amazon’s Ad Business Growth Outstrips Facebook and Google

By Priya Anand · Mar 12, 2019 6:48am PDT · 3 comments

Amazon’s ad business is growing fast—faster than Facebook and Google when they were at comparable sizes, according to third-party data and an analysis of company filings. If this continues, it could fuel criticism from political circles about Amazon’s expanding tentacles in different businesses.Amazon’s ad business... Amazon’s ad business is growing fast—faster than Facebook and Google when they were...

Waymo CEO John Krafcik speaks at a Google developer conference last May. Photo by Bloomberg.

Alphabet’s Waymo Seeks Outside Investors

By Amir Efrati · Mar 11, 2019 1:32pm PDT · 1 comment

Alphabet’s Waymo self-driving car division has been seeking financing from outside investors, such as European automakers like Volkswagen, according to a person with direct knowledge of the situation. The efforts suggest Alphabet wants to limit how much money it invests in the division, and show how valuable other parties believe it to be.... Alphabet’s Waymo self-driving car division has been seeking financing from outside...

Lime CEO Toby Sun, left, and Bird CEO Travis VanderZanden. Photos by Bloomberg , Bird.

Lime Leapfrogs Bird in Scooter Race, at a Cost

By Cory Weinberg and Amir Efrati · Mar 11, 2019 6:31am PDT · 1 comment

Lime CEO Toby Sun, left, and Bird CEO Travis VanderZanden. Photos by Bloomberg , Bird.

Lime Leapfrogs Bird in Scooter Race, at a Cost

By Cory Weinberg and Amir Efrati · Mar 11, 2019 6:31am PDT · 1 comment

The two companies leading the electric scooter craze have, until now, followed a similar formula: expand to new cities, rack up big losses, raise more money, expand again.But lately, the strategies pursued by Bird and Lime have diverged sharply. Bird has pared back growth, preferring to focus on getting profitable before expanding further, its... The two companies leading the electric scooter craze have, until now, followed a similar formula:...