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

Jobs@TheInformation

Join The Information Reporting Team!

By The Information Staff · Feb 8, 2019 5:00pm PST · 1 comment

More than any other companies, Facebook and Alphabet are changing the face of the internet. From driving advances in artificial intelligence to cornering the market for digital advertising, the two are the most important companies in Silicon Valley. The Information is looking for an enterprising reporter to join our team and cover the two... More than any other companies, Facebook and Alphabet are changing the face of the internet. From...

The Information’s 411 — A Bumbling Ofo

By Tom Dotan · Feb 8, 2019 4:23pm PST

Juro describes the rise and fall of Chinese bike rental company Ofo. Jessica speaks to IBM researcher Noam Slonim about the company's AI debate master in a preview of the IBM Think conference next week. Juro describes the rise and fall of Chinese bike rental company Ofo. Jessica speaks to IBM...

Jobs@TheInformation

Join The Information as a Senior Reporter!

By The Information Staff · Feb 8, 2019 1:59pm PST

The tech industry is at a crossroads. The forces responsible for supercharged growth at companies like Apple, Alphabet and Facebook are starting to fade. iPhone sales are no longer growing. Tech companies’ use of consumer data to sell digital advertising is being scrutinized like never before. The combined impact of these factors... The tech industry is at a crossroads. The forces responsible for supercharged growth at companies...

AMC CEO Josh Sapan. Photo by AP

AMC CEO Warns That Big Media Deals Won’t Work

By Jessica Toonkel · Feb 8, 2019 6:31am PST

AMC CEO Josh Sapan. Photo by AP

The Big Interview

AMC CEO Warns That Big Media Deals Won’t Work

By Jessica Toonkel · Feb 8, 2019 6:31am PST

Under pressure from Netflix and Amazon, the entertainment industry is slowly consolidating. But one of the smallest of the publicly traded entertainment firms, AMC Networks, is resisting the trend. And in an interview, AMC CEO Josh Sapan warns that some of the big deals underway may prove to be more challenging than anticipated and may need to... Under pressure from Netflix and Amazon, the entertainment industry is slowly consolidating. But...

Amazon Adapts to New India Rules, But Uncertainty Remains

By Priya Anand · Feb 7, 2019 11:13am PST · 3 comments

Days ago, top sellers on Amazon’s India website removed hundreds of thousands of product listings from the site to comply with new government regulations in the country, in what seemed like a perilous development. But on Thursday, after Amazon scrambled to restructure its relationship with one of those top sellers, some of those products... Days ago, top sellers on Amazon’s India website removed hundreds of thousands of product...

Photo by Shutterstock

After the Crypto Boom, Investors Proceed With Caution

By Jon Victor · Feb 7, 2019 6:31am PST

These days, when Randy Saaf goes into meetings with potential investors and customers to talk about his blockchain-based games startup, he plays down the cryptocurrency aspect of his company. What just 12 months ago would have been a major selling point has become more of a liability.After a surge of investor interest in cryptocurrencies in 2017... These days, when Randy Saaf goes into meetings with potential investors and customers to talk...

Jobs@TheInformation

SMB Account Executive at The Information

By The Information Staff · Feb 6, 2019 1:10pm PST

San Francisco—The Information is looking for a strong sales professional with a track record of closing deals and consistently beating quotas. As our first sales hire, you will be at the front line of growth at a fast-paced and rapidly expanding company.You are expected to manage a full sales cycle by qualifying prospects, closing warm... San Francisco—The Information is looking for a strong sales professional with a track...

Facebook’s Crypto Shopping List

By Jon Victor · Feb 6, 2019 12:01pm PST

Crypto Newsletter

Facebook’s Crypto Shopping List

By Jon Victor · Feb 6, 2019 12:01pm PST

Happy Wednesday. Last week’s piece on legislation that Rep. Darren Soto’s office is developing, which would exempt two classes of crypto assets from being securities, drew a lot of feedback. Some applauded the effort, but others reserved judgment for later. Joe Grundfest, a former SEC director who now teaches at Stanford, wrote in:... Happy Wednesday. Last week’s piece on legislation that Rep. Darren Soto’s office is...

Deep Job Cuts Hit Media in January, Tech Sees Hiring Slowing This Year

By Tom Dotan · Feb 6, 2019 10:01am PST · 3 comments

Quarterly financial updates from major tech companies in the past week have provided a shifting picture of jobs and hiring in the industry, with Silicon Valley giants including Alphabet, Amazon and Facebook all saying they plan to keep hiring in 2019, but at a slower pace than most of last year.It’s a different scene in media, which saw... Quarterly financial updates from major tech companies in the past week have provided a shifting...

Scenes from Maya and the Three, Magic School Bus Rides Again, Barbie Dreamhouse Adventures.

How Netflix Created a Boom in the Cartoon Industry

By Jessica Toonkel and Tom Dotan · Feb 6, 2019 6:31am PST · 2 comments

As the war between video streaming services heats up, the biggest battleground is being fought over cartoons like “Kung Fu Panda,” “Captain Underpants” and “Curious George.”Hoping to draw in families and children, services like Amazon, Apple, Hulu and especially Netflix are ordering so many new animated movies... As the war between video streaming services heats up, the biggest battleground is being fought...

India’s Oyo, Flush With SoftBank Money, Starts U.S. Expansion

By Cory Weinberg · Feb 5, 2019 10:01am PST · 2 comments

India’s Oyo Hotels and Homes, a $5 billion travel startup backed by SoftBank’s Vision Fund and Sequoia Capital, has started to expand into the U.S., The Information has learned. The company, which is one of India’s largest private tech companies, manages a network of budget hotels in India, Indonesia and China, and faces a... India’s Oyo Hotels and Homes, a $5 billion travel startup backed by SoftBank’s Vision...

Photos by Bloomberg and AP

The Incredible Rise and Fall of China’s Bike Firm Ofo

By Juro Osawa and Yunan Zhang · Feb 5, 2019 6:31am PST · 8 comments

Photos by Bloomberg and AP

The Incredible Rise and Fall of China’s Bike Firm Ofo

By Juro Osawa and Yunan Zhang · Feb 5, 2019 6:31am PST · 8 comments

There are bad tech businesses and very bad ones. And then there is Ofo.At the height of its growth in late 2017, the bicycle-rental startup had trucks driving around cities across China, dropping off brand-new yellow bikes continuously throughout the day for customers to use. Each bike cost Ofo nearly $100. They were meant to last two years.... There are bad tech businesses and very bad ones. And then there is Ofo.At the height of its...

Bird scooters on the street. Photo by Bloomberg

Announcing The Information Courses

By Jessica E. Lessin · Feb 4, 2019 11:47am PST

I’m delighted to announce the launch of a new product: The Information Courses. Courses provide an opportunity to digest our articles, data points, conference calls, org charts, and more on a specific topic over a defined period of time. We’ll be getting you up to speed on themes like the ridesharing wars, the... I’m delighted to announce the launch of a new product: The Information Courses. ...

Mark Zuckerberg and Sheryl Sandberg. Photos by Bloomberg

Inside Facebook Decisions on Subscriptions, Content Policing

By Reed Albergotti · Feb 4, 2019 10:55am PST · 9 comments

What could Facebook have done to avoid the string of blunders that have bedeviled it for the past two years—from privacy scandals to the infestation of disinformation on its service? Had the company’s leadership made different decisions at key moments throughout its 15-year history, Facebook might be in a far better spot... What could Facebook have done to avoid the string of blunders that have bedeviled it for the past...

Art by Sam Lessin

Modest Proposals

How to Introduce a Wealth Tax

By Sam Lessin · Feb 4, 2019 6:30am PST · 17 comments

In the last few weeks there has been an intense string of discussions in Silicon Valley about the future of taxation. The debate has primarily sprung from Elizabeth Warren’s comments about adding a wealth tax, and Alexandria Ocasio-Cortez's comments about a 70% marginal tax rate.There is high engagement around these issues in Silicon... In the last few weeks there has been an intense string of discussions in Silicon Valley about the...

Inside Tech’s Civil War and What It Means

By Jessica E. Lessin · Feb 2, 2019 11:30am PST · 1 comment

Inside Tech’s Civil War and What It Means

By Jessica E. Lessin · Feb 2, 2019 11:30am PST · 1 comment

Apple’s decision to go to war with Facebook and Google dominated headlines this week. For those who were off the grid, Apple shut down some iOS apps used by employees at those companies to run their businesses. Its reason: TechCrunch revealed the companies were abusing the program by extending it to user research apps. Apple restored the... Apple’s decision to go to war with Facebook and Google dominated headlines this week. For...

The Information’s 411 — MouseFlix

The Information’s 411 — MouseFlix

By Tom Dotan · Feb 1, 2019 2:47pm PST

Priya speaks with Tom about his analysis of Disney's streaming organization. Nick talks about how Microsoft's CEO is steering clear of the squabbles between Apple, Facebook and Google over data privacy. Priya speaks with Tom about his analysis of Disney's streaming organization. Nick talks...

Apple's HomePod. Photo by Bloomberg

Apple’s Siri Leader is Out

By Aaron Tilley and Kevin McLaughlin · Feb 1, 2019 2:21pm PST · 2 comments

The Apple executive responsible for overseeing Siri for the past seven years recently left that role, said five people with knowledge of the change.Bill Stasior, who was recruited from Amazon in 2012 to lead Siri after two of the technology’s creators left Apple, is no longer heading the voice assistant group, though he remains at Apple,... The Apple executive responsible for overseeing Siri for the past seven years recently left that...

Postmates CFO Kristin Schaefer.

Q&A

Postmates CFO on Why 2019 Is a Good Time for an IPO

By Priya Anand · Feb 1, 2019 6:31am PST · 1 comment

Postmates Chief Financial Officer Kristin Schaefer says the prepared food and grocery delivery service has found a “secret weapon”—a loyal base of subscribers to its unlimited delivery plan who can help it weather tough competition from rivals that include Uber, DoorDash, Grubhub and Amazon. The quickly growing group of... Postmates Chief Financial Officer Kristin Schaefer says the prepared food and grocery delivery...

These Tech Firms Destroyed Value the Fastest

By Alfred Lee · Jan 31, 2019 12:17pm PST · 3 comments

These Tech Firms Destroyed Value the Fastest

By Alfred Lee · Jan 31, 2019 12:17pm PST · 3 comments

Much has been made of Snap’s huge drop in value. But when it comes to public tech companies that lost value the fastest, Snap pales in comparison with a company some may have forgotten about—Groupon.The online deals firm lost $10.4 billion in market capitalization, or 81%, in its first year on the public markets—and is worth... Much has been made of Snap’s huge drop in value. But when it comes to public tech companies...