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

What the Uber IPO Did and Didn’t Teach Us

By Jessica E. Lessin · Aug 3, 2019 7:46am PDT

Back in May—when Uber held one of the most disappointing IPOs in history—I wondered whether the days of investors pouring billions into money-losing private tech companies may be drawing to a close. Yet, not three months later, it appears that not only has that not happened, but things are about to get even crazier. Back in May—when Uber held one of the most disappointing IPOs in history—I wondered...

The Information’s 411 — Blackburn Fly

By Tom Dotan · Aug 2, 2019 3:02pm PDT

Priya and Beejoli join to talk about Jeff Blackburn, the top Amazon executive who's going on a surprise one-year leave of absence. And we discuss one of the departments he oversees, Amazon Studios, which has struggled in recent months. Priya and Beejoli join to talk about Jeff Blackburn, the top Amazon executive who's going on...

Facebook CEO Mark Zuckerberg. Photo by Bloomberg

Facebook to Add Its Name to Instagram, WhatsApp

By Alex Heath · Aug 2, 2019 2:46pm PDT · 7 comments

In a big shift, Facebook plans to signal its control of Instagram and WhatsApp by adding its name to both apps, according to three people familiar with the matter. The social network will rebrand the apps to “Instagram from Facebook” and “WhatsApp from Facebook,” the people said.Employees for the apps were recently... In a big shift, Facebook plans to signal its control of Instagram and WhatsApp by adding its name...

AWS Growth Rate Slows Amid Shifts in Cloud Market

By Kevin McLaughlin and Amir Efrati · Aug 2, 2019 7:02am PDT

AWS Growth Rate Slows Amid Shifts in Cloud Market

By Kevin McLaughlin and Amir Efrati · Aug 2, 2019 7:02am PDT

Amazon Web Services, the dominant provider of cloud computing services, has seen a gradual dip in its annual sales growth rate over the past two quarters. Part of that is a natural slowdown as AWS gets bigger—its sales now top $25 billion a year—and faces growing competition. But it could also reflect a shift in the cloud computing... Amazon Web Services, the dominant provider of cloud computing services, has seen a gradual dip in...

Tech and Media Layoffs Surge in May, Taper in June

By The Information Staff · Aug 1, 2019 1:01pm PDT

The volume of layoffs announced by technology and media companies surged in May, driven by a large round of cuts at IT services firm DXC Technology, before slowing in June. So far this year, tech and media companies have laid off far more employees than at this point in 2018, according to state regulatory filings, news reports and data collected... The volume of layoffs announced by technology and media companies surged in May, driven by a...

Substack Co-Founders Hamish McKenzie, Chris Best and Jairaj Sethi. Photo courtesy of Substack.

Startup of the Week

A One-Stop Shop for Newsletter Publishing

By Beejoli Shah · Aug 1, 2019 10:01am PDT · 3 comments

Substack, a nearly 2-year-old San Francisco–based startup that builds tools to make it easier for writers to publish—and make money from—subscription newsletters, believes it can stand out in a crowded field by keeping it simple. Substack handles most of the production and business tasks small and solo publishers face such... Substack, a nearly 2-year-old San Francisco–based startup that builds tools to make it...

Thomas Laffont and Dan Rose of Coatue. Photo by Erin Beach.

In Ambitious Gamble, Hedge Fund Coatue Launches $700 Million Early-Stage Venture Fund

By Jessica E. Lessin · Aug 1, 2019 7:01am PDT · 4 comments

In 1999, Philippe Laffont opened a small tech hedge fund called Coatue that withstood the dot-com bust, thanks to smart investments in companies like Tencent and Apple. Today, he is one of the industry’s hottest managers—with $17 billion under management. Now, Mr. Laffont and his brother Thomas are making another big bet: a $700... In 1999, Philippe Laffont opened a small tech hedge fund called Coatue that withstood the dot-com...

Mike Sullivan

Another Rival for Coinbase, Gemini

By Jon Victor · Jul 31, 2019 12:20pm PDT

Mike Sullivan

Crypto Newsletter

Another Rival for Coinbase, Gemini

By Jon Victor · Jul 31, 2019 12:20pm PDT

Crypto went to Washington yet again this week. This time, Congress was exploring whether it should pass new laws to govern the industry. Jeremy Allaire, CEO of Circle, which recently moved some operations offshore, told lawmakers at the hearing that uncertainty around regulation is prompting crypto companies to leave the U.S.His comments echoed... Crypto went to Washington yet again this week. This time, Congress was exploring whether it...

Stacey Lysik speaking at Apple's Worldwide Developers Conference early last month. Photo by AP.

Apple’s ‘Bug Wrangler’ Moves to AR Team

By Aaron Tilley · Jul 31, 2019 11:01am PDT

Apple has moved a high-profile software executive into the company’s secretive augmented reality team, a shift seen internally as intended to bring some order to the team developing a long-anticipated AR headset. Kim Vorrath, who led program management in the software team for more than 15 years, has moved over to the team headed by Mike... Apple has moved a high-profile software executive into the company’s secretive augmented...

Facebook's Portal device. Photo by Bloomberg

Facebook Approached Netflix, Disney to Support TV Chat Device

By Alex Heath · Jul 31, 2019 7:02am PDT · 1 comment

Facebook has approached Netflix, Disney and other media companies about putting their streaming services on a new Facebook device for making video calls from televisions, The Information has learned. The device, which Facebook is aiming to release this fall, will use the same video-calling technology that is in Facebook’s... Facebook has approached Netflix, Disney and other media companies about putting their streaming...

Illustration by Shutterstock

Website Builder Webflow to Exceed $200 Million Valuation in New Funding

By Amir Efrati · Jul 30, 2019 10:01am PDT · 2 comments

Website-design software maker Webflow is expected to raise at least $20 million in new funding led by venture firm Accel at a pre-investment valuation of more than $200 million, according to a person briefed on the deal.Initially backed by startup fund Y Combinator, Webflow is one of a class of software companies that develops tools to help... Website-design software maker Webflow is expected to raise at least $20 million in new funding...

Peter Faricy.

Cable Giant Discovery Hires Amazon Veterans to Build E-Commerce and Tech

By Jessica Toonkel · Jul 30, 2019 7:01am PDT · 3 comments

Peter Faricy.

Q&A

Cable Giant Discovery Hires Amazon Veterans to Build E-Commerce and Tech

By Jessica Toonkel · Jul 30, 2019 7:01am PDT · 3 comments

As entertainment companies Disney, WarnerMedia and NBCUniversal develop their own streaming services, much of their focus is on securing exclusive programming to lure in viewers. Peter Faricy, a former Amazon executive who last fall joined cable channel giant Discovery to run its expanding array of streaming services, thinks content isn’t... As entertainment companies Disney, WarnerMedia and NBCUniversal develop their own streaming...

Huawei's consumer electronics chief Richard Yu. Photo by Bloomberg

Huawei and Google Were Working On New Smart Speaker Before Trump’s Ban

By Juro Osawa · Jul 29, 2019 10:01am PDT · 1 comment

China’s Huawei and Google were working together on a new Huawei-branded smart speaker right before President Donald Trump restricted Huawei’s access to U.S. tech suppliers, say people familiar with the situation. The collaboration, which was suspended in May, shows that the companies were even closer than previously understood.Before... China’s Huawei and Google were working together on a new Huawei-branded smart speaker right...

The People With Power at Google Cloud

By Kevin McLaughlin and Amir Efrati · Jul 29, 2019 7:01am PDT

In February, a month after Thomas Kurian became CEO of Google’s cloud computing unit, he pledged publicly that Google Cloud would compete “much more aggressively” than in the past, promising to significantly expand its sales force in order to land more Fortune 500 companies as customers. Since then, Mr. Kurian has moved quickly... In February, a month after Thomas Kurian became CEO of Google’s cloud computing unit, he...

Regulation Is Not the Bogeyman

By Jessica E. Lessin · Jul 27, 2019 7:45am PDT

Facebook’s long-awaited Federal Trade Commission settlement, including a $5 billion fine, arrived—with somewhat of a whimper. As reporters and lobbyists used Twitter to debate who got the better deal, Facebook investors shrugged it off. Even word of a sweeping Justice Department tech-sector wide antitrust investigation targeting... Facebook’s long-awaited Federal Trade Commission settlement, including a $5 billion fine,...

The Information’s 411 — All Your Coinbase Are Belong to Us

By Tom Dotan · Jul 26, 2019 12:34pm PDT

The Information’s 411 — All Your Coinbase Are Belong to Us

By Tom Dotan · Jul 26, 2019 12:34pm PDT

Jon talks about the chaos at Coinbase and the fallout between its CEO and his top executives. Jon talks about the chaos at Coinbase and the fallout between its CEO and his top executives.

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...