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

Shukun employees examine a scan. Photo courtesy of Shukun Technology.

Startup of the Week

This Chinese Startup Is Bringing AI to Heart Disease Treatment

By Shai Oster · Aug 28, 2019 10:01am PDT · 7 comments

Shukun Technology, a startup founded two years ago in Beijing that uses artificial intelligence to diagnose heart disease, is developing a technology that could help tackle one of China’s most urgent medical problems: a shortage of doctors to treat a rapidly growing population of older, sicker people.Shukun uses software, a database of... Shukun Technology, a startup founded two years ago in Beijing that uses artificial intelligence...

Snap CEO Evan Spiegel. Photo by Bloomberg

Tech Companies Lead Convertible Debt Surge

By Ross Matican · Aug 28, 2019 7:01am PDT · 2 comments

When Snap raised $1.27 billion in a convertible note offering earlier this month, it answered a longstanding question that Wall Street had about the messaging company: When and how would it raise capital to cover its ongoing cash burn? Until recently, Snap’s stock was too low to allow for an equity-raising, while borrowing money might have... When Snap raised $1.27 billion in a convertible note offering earlier this month, it answered a...

John Foley, founder and CEO of Peloton. Photo by Bloomberg.

Peloton IPO Filing Shows Wider Losses as Marketing Surges

By Nick Wingfield · Aug 27, 2019 4:18pm PDT · 2 comments

Peloton, the provider of internet fitness classes and connected exercise equipment, has seen its losses balloon as it has poured money into sales and marketing, the company said in a filing for an initial public offering on Tuesday afternoon. Peloton is not your typical tech or internet IPO, as its filing makes clear. It sells both... Peloton, the provider of internet fitness classes and connected exercise equipment, has seen its...

BuzzFeed CEO Jonah Peretti. Photo by Bloomberg

For Digital Media Giants, Pairing Up Is Hard to Do

By Tom Dotan and Jessica Toonkel · Aug 27, 2019 10:14am PDT · 3 comments

BuzzFeed CEO Jonah Peretti. Photo by Bloomberg

For Digital Media Giants, Pairing Up Is Hard to Do

By Tom Dotan and Jessica Toonkel · Aug 27, 2019 10:14am PDT · 3 comments

It’s been roughly a year since BuzzFeed CEO Jonah Peretti publicly floated the idea that his company along with the other richly funded media outfits should merge so they could demand more money from tech companies like Facebook. So far, none of the big deals that Peretti suggested have come to pass—but not for lack of trying. ... It’s been roughly a year since BuzzFeed CEO Jonah Peretti publicly floated the idea that...

A WeWork location in New York City. Photo: Bloomberg

At Fast-Growing WeWork, an HR Department in Turmoil

By Cory Weinberg · Aug 27, 2019 7:01am PDT

WeWork sells prospective customers on the idea that its energetic workplace culture will rub off on tenants, keeping their employees happy and productive. But WeWork’s own employees have noticed an irony about the pitch: Executives in charge of keeping WeWork’s workforce humming haven’t stuck around.Nearly a dozen leaders and... WeWork sells prospective customers on the idea that its energetic workplace culture will rub off...

Apple CEO Tim Cook. Photo by Bloomberg

Apple Puts ‘Walkie Talkie’ iPhone Project on Hold

By Aaron Tilley · Aug 26, 2019 10:00am PDT · 5 comments

Apple has shelved a novel wireless technology project that would have allowed people with iPhones to reach nearby companions in areas without cellular coverage, such as on ski slopes or on hikes in remote areas, said two people familiar with the project.Although the reasons for suspending the effort couldn’t be learned, the departure of... Apple has shelved a novel wireless technology project that would have allowed people with iPhones...

A Waymo self-driving vehicle. Still photo from a Waymo video

Waymo’s Backseat Drivers: Confidential Data Reveals Self-Driving Taxi Hurdles

By Amir Efrati · Aug 26, 2019 7:00am PDT

One passenger in a Waymo self-driving car complained that the awkward end to his ride felt like he was getting dropped off by his dad. Others said their Waymo rides made them late to work. Another praised his car for coping admirably with “idiot drivers” of the human variety during his ride.The rider feedback is part of a trove of... One passenger in a Waymo self-driving car complained that the awkward end to his ride felt like...

A Waymo self-driving vehicle. Still photo from Waymo video

Waymo Riders Describe Experiences on the Road

By Amir Efrati · Aug 26, 2019 7:00am PDT

A Waymo self-driving vehicle. Still photo from Waymo video

Waymo Riders Describe Experiences on the Road

By Amir Efrati · Aug 26, 2019 7:00am PDT

The Information analyzed internal feedback about the performance of Alphabet’s Waymo self-driving taxis on public streets, covering more than 10,500 rides in July and part of August. The reports from riders using the service in suburban Phoenix and in the San Francisco Bay Area, portions of which we describe below, provide an unprecedented... The Information analyzed internal feedback about the performance of Alphabet’s Waymo...

The Problem for SoftBank’s New Vision Fund

By Jessica E. Lessin · Aug 23, 2019 4:58pm PDT

Signs that the global economy is in trouble are mounting, yet here in Silicon Valley startups and venture capital funds are still raising record amounts. I feel the disconnect more than ever and especially when thinking about SoftBank and its Vision Fund. The mega fund, whose second vintage is slated to come in at more than $100 billion, is the... Signs that the global economy is in trouble are mounting, yet here in Silicon Valley startups and...

The Information’s 411 — The Gramily Business

By Tom Dotan · Aug 23, 2019 3:26pm PDT

Alex talks about the past year at Instagram and why Facebook has been folding the once-autonomous company into its ranks. Alex talks about the past year at Instagram and why Facebook has been folding the...

Photo courtesy of Hedone.

Chinese Online Brands Thrive as E-Commerce Grows

By Yunan Zhang and Shai Oster · Aug 23, 2019 7:01am PDT · 1 comment

In the U.S., online consumer brands backed by venture capital, including Glossier, Everlane and Allbirds, are changing how people shop. These companies, and others like them, are getting traction by selling directly to consumers, using targeted digital advertising and mostly bypassing physical stores.Now, a new breed of online Chinese brands is... In the U.S., online consumer brands backed by venture capital, including Glossier, Everlane and...

Illustration by Shutterstock.

Tech May Need New Playbook if Recession Hits

By The Information Staff · Aug 22, 2019 10:43am PDT

Illustration by Shutterstock.

Tech May Need New Playbook if Recession Hits

By The Information Staff · Aug 22, 2019 10:43am PDT

There are increasing signs that the U.S. economy may enter a recession in the months ahead. While a slowdown is by no means certain, if one does materialize, the technology and media industries won’t escape.Yesterday, we took a look at how a recession might affect mobile phones and media, two bellwether sectors in technology. Today the... There are increasing signs that the U.S. economy may enter a recession in the months ahead. While...

Illustration by Josh Brill

Growing Pains: Facebook Pushes Instagram to Earn Its Keep

By Alex Heath · Aug 22, 2019 7:01am PDT · 8 comments

Inside a conference room at Facebook headquarters in January 2018, a discussion among senior executives—a group known within the company as the “M Team”—turned to Instagram, the photo-sharing app that Facebook acquired in 2012 for roughly $1 billion.Facebook’s chief operating officer, Sheryl Sandberg, congratulated... Inside a conference room at Facebook headquarters in January 2018, a discussion among senior...

Mike Sullivan

Crypto Newsletter

Why Binance Stands a Chance Against Facebook

By Jon Victor · Aug 21, 2019 12:01pm PDT

Crypto exchanges located outside the U.S. have maneuvered to avoid being subject to rules by U.S. financial regulators and law enforcement agencies, as I described last week. Now, we have one more data point to add to that conversation: A New York judge rejected Bitfinex’s claim that the New York attorney general’s office, which is... Crypto exchanges located outside the U.S. have maneuvered to avoid being subject to rules by U.S....

Cobalt Robotics co-founders Travis Deyle and Erik Schluntz. Photo: Cobalt

Startup of the Week

Robot Security Guards Roll Into More Offices

By Cory Weinberg · Aug 21, 2019 10:32am PDT

Building robots has long been a romantic pursuit for Travis Deyle. As a kid in rural Nebraska, he assembled small robots from windshield wiper motors in a shop on his grandfather’s farm. As a postdoctoral student, he developed healthcare robots that would fetch medication for elderly people. Meanwhile, he published a popular blog on the... Building robots has long been a romantic pursuit for Travis Deyle. As a kid in rural Nebraska, he...

Illustration by Shutterstock

A Recession May Be on the Way. How Will Tech Fare?

By The Information Staff · Aug 21, 2019 7:02am PDT · 3 comments

Illustration by Shutterstock

A Recession May Be on the Way. How Will Tech Fare?

By The Information Staff · Aug 21, 2019 7:02am PDT · 3 comments

The modern U.S. technology economy has experienced two recessions in its relatively short existence: the 1999 dot-com bust, and the Great Recession that began in 2008. Both transformed the technology industry, killing off companies built on unsustainable models while forcing others to adjust to changing circumstances.There are signs that a third... The modern U.S. technology economy has experienced two recessions in its relatively short...

Some images from a parody Instagram account.

Can You Meme Your Way Into Venture Capital? Maybe.

By Zoë Bernard · Aug 20, 2019 10:30am PDT · 1 comment

Venture capitalists and entrepreneurs have been making fun of each other on Twitter and Instagram practically since the platforms launched. Over the years, a few parody accounts have gained fame by skewering the VC universe with an edgy mix of performative politeness, obvious aphorisms and lofty-sounding recipes for creating wealth.But recently... Venture capitalists and entrepreneurs have been making fun of each other on Twitter and Instagram...

U.S. Department of Justice, Washington, D.C. Photo: AP

Tech Antitrust Battle to Test Agencies’ Leverage

By Christopher Stern and Ashley Gold · Aug 20, 2019 7:01am PDT

The U.S. government is taking its first steps to launch far-reaching investigations into Amazon, Apple, Facebook and Google, hiring attorneys, economists and technology analysts as they examine whether the companies abused their powerful market positions to undermine competitors. The Justice Department has asked Congress for an additional... The U.S. government is taking its first steps to launch far-reaching investigations into Amazon,...

Microsoft CEO Satya Nadella. Photo by Bloomberg

Apple’s Former Siri Boss Joins Microsoft AI Group

By Aaron Tilley · Aug 19, 2019 10:51am PDT

Bill Stasior, the longtime former Apple executive overseeing its Siri digital assistant, has joined Microsoft, continuing a reshuffling of artificial intelligence leadership at big tech companies. Starting this month, Stasior, whose move to Microsoft hasn’t been previously reported, will become a corporate vice president of... Bill Stasior, the longtime former Apple executive overseeing its Siri digital assistant, has...

Andy Jassy and Adrian Cockcroft of Amazon Web Services. Photos by Bloomberg; Linux Journal/Flickr

Big Customers Pressure AWS to Step Up Open Source Support

By Kevin McLaughlin and Amir Efrati · Aug 19, 2019 7:01am PDT · 4 comments

Andy Jassy and Adrian Cockcroft of Amazon Web Services. Photos by Bloomberg; Linux Journal/Flickr

Big Customers Pressure AWS to Step Up Open Source Support

By Kevin McLaughlin and Amir Efrati · Aug 19, 2019 7:01am PDT · 4 comments

In some parts of the open source community—the loosely affiliated bands of developers who work on free software projects—Amazon Web Services is viewed as a mooch, a company that makes money from those projects without contributing enough to their advancement. It turns out executives at AWS, as the cloud computing unit of the internet... In some parts of the open source community—the loosely affiliated bands of developers who...