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

WarnerMedia CEO John Stankey. Photo by Bloomberg

2019 Predictions

AT&T’s Time Warner Overhaul Will Spark Employee Exodus

By Tom Dotan and Jessica Toonkel · Dec 27, 2018 10:02am PST · 1 comment

Since AT&T acquired Time Warner in June, the telecom giant has wasted no time in trying to remake the entertainment company for the digital era. It has announced plans to launch a Netflix-like streaming service by the end of 2019. Meanwhile it is reorganizing the former Time Warner businesses into a single division called WarnerMedia. In... Since AT&T acquired Time Warner in June, the telecom giant has wasted no time in trying to...

Oracle CEO Mark Hurd at an event last year. Photo by Bloomberg

Q&A

Oracle’s Hurd Touts Apps, Plays Down AWS Threat

By Nick Wingfield and Kevin McLaughlin · Dec 27, 2018 7:02am PST · 4 comments

Oracle CEO Mark Hurd would prefer not to talk about Amazon. In an interview with The Information, Mr. Hurd was eager to discuss another topic, Oracle’s applications for running corporate finances and other back-office functions, which are showing strong growth. But he bristled when asked about Amazon, which is becoming an increasingly... Oracle CEO Mark Hurd would prefer not to talk about Amazon. In an interview with The Information,...

Blockchain CEO Peter Smith. Photo: Bloomberg

Q&A

Blockchain CEO Eyes IPO Amid Crypto Rout

By Jon Victor · Dec 26, 2018 10:01am PST

2018 was a tough year for the cryptocurrency industry, as the total market capitalization of all digital tokens plummeted from $800 billion in January to around $130 billion in late December. But Peter Smith, the CEO of Blockchain, says businesses like his, which earn revenue off people (and businesses) buying and selling tokens, can still do... 2018 was a tough year for the cryptocurrency industry, as the total market capitalization of all...

Google Cloud CEO Thomas Kurian, shown in 2016, when he was Oracle's president of product development. Photo: Bloomberg

Why Alphabet Will Make a Big Acquisition to Help Google Cloud

By Kevin McLaughlin · Dec 26, 2018 7:01am PST · 7 comments

Google Cloud CEO Thomas Kurian, shown in 2016, when he was Oracle's president of product development. Photo: Bloomberg

2019 Predictions

Why Alphabet Will Make a Big Acquisition to Help Google Cloud

By Kevin McLaughlin · Dec 26, 2018 7:01am PST · 7 comments

If Thomas Kurian wants to succeed in his new job as Google Cloud CEO, he needs to make some radical moves. For instance, he could make a major acquisition of an enterprise tech firm to plug some of the gaps in Google’s product mix that have prevented big companies from taking it seriously. I’m predicting that’s what Mr. Kurian... If Thomas Kurian wants to succeed in his new job as Google Cloud CEO, he needs to make some...

Customers picking up prescriptions at a pharmacy in Yichang, central China's Hubei province, in 2014. Photo by AP

How Hillhouse Hopes to Build China’s CVS

By Yunan Zhang · Dec 24, 2018 10:01am PST

Hillhouse Capital Group, one of China’s most prominent investment firms and an early backer of Chinese tech giants such as Tencent and Meituan, has lately tried to buy up pet care firms, hospitals and shoe stores. Now it is targeting pharmacies.In the past year, Hillhouse has invested $1 billion in more than 40 retail pharmacy chains,... Hillhouse Capital Group, one of China’s most prominent investment firms and an early backer...

Modest Proposals

What Technologists Can Learn From Religions

By Sam Lessin · Dec 24, 2018 7:01am PST · 9 comments

In 1994, Umberto Eco famously wrote that the Macintosh was Catholic and that DOS was Protestant. While he was mostly speaking in jest, I am increasingly convinced that modern internet platforms have as much to learn from religious history as they do from corporate history.Bitcoin and the crypto ecosystems, for example, have a lot in common with... In 1994, Umberto Eco famously wrote that the Macintosh was Catholic and that DOS was Protestant....

Still Waiting for the IPO Tech Boom? You’re Late.

By Jessica E. Lessin · Dec 22, 2018 8:32am PST

Last week, my column handicapped what will certainly be a big IPO year in 2019. This week, I want to say more about the year we already had—and a trend that I suspect some of you missed.Despite the fact that many big names (Uber, Airbnb) were still waiting it out, 2018 was a record year for tech IPOs, as determined by their size. There... Last week, my column handicapped what will certainly be a big IPO year in 2019. This week, I want...

The Information’s 411 — The Ukraine Always Rings Twice

By Tom Dotan · Dec 21, 2018 4:05pm PST

The Information’s 411 — The Ukraine Always Rings Twice

By Tom Dotan · Dec 21, 2018 4:05pm PST

Reed and Matt explain why Ring has been sending customer videos and data to its office in Ukraine and what it says about Ring's privacy policies. Reed and Matt explain why Ring has been sending customer videos and data to its office in Ukraine...

China's President Xi Jinping and German chancellor Angela Merkel in Berlin in July. Photo by Bloomberg

Chinese Chip Deals Shift to Europe as U.S. Clamps Down

By Aaron Tilley and Juro Osawa · Dec 21, 2018 7:01am PST

Last year, Canyon Bridge Capital Partners, a Chinese government-backed investment fund, made one of that country’s most ambitious attempts to buy a U.S. chip company with a $1.3 billion bid for Lattice Semiconductor. But after the Chinese origins of the prospective buyer attracted scrutiny by the Trump administration, Canyon Bridge... Last year, Canyon Bridge Capital Partners, a Chinese government-backed investment fund, made one...

A Waymo autonomous vehicle in Chandler, Ariz., in July. Photo by Bloomberg

Troubled Waymo Worker Shows Human Problems Continue

By Amir Efrati · Dec 20, 2018 10:03am PST · 2 comments

When Waymo tests its self-driving car prototypes on public roads, teams of workers sit inside control rooms remotely monitoring their every move. Some of these workers—Waymo calls them “guardian angels”—are ready to push buttons that bring vehicles to a halt when safety concerns arise.For five months in 2018 though, Waymo... When Waymo tests its self-driving car prototypes on public roads, teams of workers sit inside...

Neil Shen. Photo by AP

How Sequoia’s Neil Shen Built a China Powerhouse

By Juro Osawa · Dec 20, 2018 7:01am PST · 1 comment

In 2004, the two senior partners at Sequoia Capital, Michael Moritz and Doug Leone, were looking for new long-term opportunities outside the U.S., and they zeroed in on China as the first target.“Back then, a lot of people were flying in, doing deals and flying out. We knew that was the wrong model,” Mr. Leone said in an interview.... In 2004, the two senior partners at Sequoia Capital, Michael Moritz and Doug Leone, were looking...

Mike Sullivan

EOS Block Producers Under Pressure

By Jon Victor · Dec 19, 2018 1:28pm PST

Mike Sullivan

Crypto Newsletter

EOS Block Producers Under Pressure

By Jon Victor · Dec 19, 2018 1:28pm PST

Is the bottom in? Crypto prices are up this week, even as U.S. stocks sank deeper into correction territory. Some prominent crypto backers, like Brian Kelly, have said they are now short bitcoin. Another big crypto investor, Galaxy Digital’s Mike Novogratz, remains bullish on the market. But many investors admit they have no idea which way... Is the bottom in? Crypto prices are up this week, even as U.S. stocks sank deeper into correction...

Mike Sullivan

At Ring’s R&D Team, Security Gaps and Rookie Engineers

By Matt Drange and Reed Albergotti · Dec 19, 2018 7:01am PST · 5 comments

Jamie Siminoff had flown to frigid Kiev, Ukraine, to give a pep talk to the roughly 30 people who worked there for his fast-growing video doorbell startup, Ring. It was December 2016, and the Santa Monica, Calif., company had recently opened a satellite office in Ukraine to develop products that would use artificial intelligence and motion... Jamie Siminoff had flown to frigid Kiev, Ukraine, to give a pep talk to the roughly 30 people who...

Lyric manages high-end rentals for short stays in Chicago, above, and a dozen other cities. Photo: Shutterstock

Airbnb in Talks to Lead Property Startup’s $75 Million Fundraising

By Cory Weinberg · Dec 18, 2018 2:15pm PST · 1 comment

Airbnb is expected to lead a group of investors that would put about $75 million into Lyric, a startup that turns new apartment buildings into hotel-like properties for business travelers, people familiar with the matter said. The anticipated investment would be one of Airbnb’s most significant bets on professionally managed rentals.Lyric... Airbnb is expected to lead a group of investors that would put about $75 million into Lyric, a...

Art by Mike Sullivan

Our Top 10 Stories of 2018

By Jessica E. Lessin · Dec 18, 2018 10:12am PST

What a year. Our ten most popular stories of 2018 exposed how dreams met reality for major tech giants as high fliers stumbled and reckoned with major missteps and setbacks. But it wasn't all bad news. Pieces about Netflix's innovative management approach and Uber's efforts to remake itself also made the list. If you missed them,... What a year. Our ten most popular stories of 2018 exposed how dreams met reality for major tech...

Tech Giants Turn to Madison Avenue to Burnish Image

Tech Giants Turn to Madison Avenue to Burnish Image

By Sarah Kuranda · Dec 18, 2018 7:01am PST · 2 comments

Tech Giants Turn to Madison Avenue to Burnish Image

Tech Giants Turn to Madison Avenue to Burnish Image

By Sarah Kuranda · Dec 18, 2018 7:01am PST · 2 comments

Big tech is better known for eroding the traditional ad business than contributing to it. But that’s changing. Alphabet, Amazon and Facebook each ramped up U.S. advertising sharply in the first half of this year, looking to promote individual products and trust in their services.In many cases, the companies are spending a greater... Big tech is better known for eroding the traditional ad business than contributing to it. But...

Art by Mike Sullivan

Modest Proposals

My Predictions for Crypto in 2019

By Sam Lessin · Dec 17, 2018 10:02am PST · 6 comments

Almost exactly one year ago I made 14 predictions about how the cryptocurrency market would change in 2018. This year, I want to start by recapping how my predictions turned out, and then make a fresh set of 2019 calls. In reviewing my 2018 predictions, I give myself a score of 79%: 11 of my 14 predictions turned out to be... Almost exactly one year ago I made 14 predictions about how the cryptocurrency market would...

Art by Mike Sullivan

On the Market: Veterans of Facebook, Oath, ABC, Lyft

By The Information Staff · Dec 17, 2018 7:02am PST

As the year winds down, some prominent executives are considering their next move after having held jobs that have given them a front seat to the biggest recent developments in tech and media. The Information’s latest batch of Free Agents—industry leaders who are in between jobs, or about to be—looks at the careers and future... As the year winds down, some prominent executives are considering their next move after having...

Chart by Mike Sullivan.

What Public Tech Investors Want

By Jessica E. Lessin · Dec 15, 2018 10:22am PST · 1 comment

It’s all but certain that Uber, Lyft and several other private companies will go public in 2019. What is far less clear is how public market investors, in a potentially jittery market, will receive them.These companies, and their venture capital investors, represent the Silicon Valley bulls who believe public investors will rally behind... It’s all but certain that Uber, Lyft and several other private companies will go public in...

The Information’s 411 — Uber, Take the Wheel

By Tom Dotan · Dec 14, 2018 2:51pm PST

The Information’s 411 — Uber, Take the Wheel

By Tom Dotan · Dec 14, 2018 2:51pm PST

Amir explains how a whistleblower at Uber warned about the problems with their self-driving cars before the deadly collision in Arizona. Priya talks about how AWS's promise to use only renewable energy in its data centers has hit some speed bumps. Amir explains how a whistleblower at Uber warned about the problems with their self-driving cars...