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

Sam Yam and Jack Conte. Photos by Patreon

Q&A

Patreon’s $400 Million Promise: To Expand From Donations to Services

By Tom Dotan · Nov 13, 2018 7:02am PST · 2 comments

Patreon has become known in the online media industry as the place to go if you want to send your favorite podcaster or musician a few dollars a month in exchange for extra content or access to exclusive chats. But the company has much bigger ambitions. It wants to offer creators a variety of services for creators, such as loans, so they can... Patreon has become known in the online media industry as the place to go if you want to send your...

Karen Zhang, Elaine Lou and Daisy Guo at The Information's Hong Kong Subscriber Summit earlier this week, with The Information's Shai Oster. Photo by Brent Pottinger

Hong Kong Subscriber Summit

For China’s Startups, New York Stock Markets Still Beat Hong Kong

By Wayne Ma · Nov 12, 2018 10:54am PST

Despite a number of high-profile Chinese startups listing in Hong Kong this year, the U.S. still provides a compelling market for initial public offerings because of its more sophisticated investors, several Chinese entrepreneurs and investors said Monday during an onstage interview at The Information’s Subscriber Summit in Hong Kong. ... Despite a number of high-profile Chinese startups listing in Hong Kong this year, the U.S. still...

UberEats' global marketing chief Nikki Neuberger with The Information's Juro Osawa. Photo by Brent Pottinger

Hong Kong Subscriber Summit

Uber Sees Strong Growth in Asia’s Food Delivery Market

By Juro Osawa and Wayne Ma · Nov 12, 2018 10:52am PST · 1 comment

Uber Eats’ food deliveries in the Asia-Pacific region have quadrupled in the past half-year, propelled by India, a company executive said. “We are growing fast everywhere. We are growing exponentially more quickly in India,” Nikki Neuburger, the global head of marketing for Uber’s food delivery business, said Monday in an... Uber Eats’ food deliveries in the Asia-Pacific region have quadrupled in the past...

Art by Sam Lessin

Is Uber Cash a Crypto Play?

By Sam Lessin · Nov 12, 2018 7:02am PST · 4 comments

Art by Sam Lessin

Modest Proposals

Is Uber Cash a Crypto Play?

By Sam Lessin · Nov 12, 2018 7:02am PST · 4 comments

The idea that social networking and messaging platforms could be used to launch and distribute new cryptocurrencies has been widely discussed in technology circles in the last few years. But what about ride-sharing companies—and in particular Uber?You could argue that Uber might be better positioned than the social networking players to... The idea that social networking and messaging platforms could be used to launch and distribute...

Former Instagram Chief Kevin Systrom on News

By Jessica E. Lessin · Nov 10, 2018 11:56am PST · 1 comment

Thursday was one of my favorite days of the year. Twice a year, we gather media professionals to talk about, well, the future of media. It’s a program based on the bootcamp we run for the media companies we invest in—condensed to eight grueling hours of talking about subscription funnels, analytics packages and where this crazy... Thursday was one of my favorite days of the year. Twice a year, we gather media professionals to...

The Information’s 411 — Elon’s Driving Ambitions

By Tom Dotan · Nov 9, 2018 3:03pm PST

Amir talks about what Tesla's Autopilot can actually do, and whether the company's self-driving technology is well regarded in the industry. Amir talks about what Tesla's Autopilot can actually do, and whether the company's...

Cameras inside a Walmart store in Levittown, N.Y., where it is testing automation technologies. Photo by Jon Victor

Inside Walmart’s Secret ‘Kepler’ Store for Testing Tech

By Priya Anand, Kevin McLaughlin and Jon Victor · Nov 9, 2018 10:01am PST

At first glance, the small Walmart store in the New York suburb of Levittown seems unexceptional, but hovering above the aisles of water bottles, pet food and cookies are clues to an important technology experiment the giant retailer is conducting. A halo of cameras hangs above shelves throughout the store, the sheer number of... At first glance, the small Walmart store in the New York suburb of Levittown seems unexceptional,...

WarnerMedia CEO John Stankey. Photo by Bloomberg

Looking to Combat Disney, AT&T’s WarnerMedia Holds Content Talks With NBCU

By Jessica Toonkel · Nov 9, 2018 7:01am PST

WarnerMedia CEO John Stankey. Photo by Bloomberg

Looking to Combat Disney, AT&T’s WarnerMedia Holds Content Talks With NBCU

By Jessica Toonkel · Nov 9, 2018 7:01am PST

AT&T’s WarnerMedia has approached Comcast’s NBCUniversal to discuss ways of working together, including about licensing films or TV shows for WarnerMedia’s planned new streaming service, according to two people familiar with the discussions. The approach signals that AT&T wants to strengthen its hand in competing with... AT&T’s WarnerMedia has approached Comcast’s NBCUniversal to discuss ways of...

Former Instagram CEO Kevin Systrom on Thursday. Photo by Erin Beach

Former Instagram Leader Systrom Talks About ‘Unhealthy’ Internet Incentives

By Sarah Kuranda · Nov 8, 2018 6:13pm PST · 8 comments

For Kevin Systrom, the most challenging part of running Instagram was resisting the pressure to over-commercialize the social media service, he said on Thursday. “It’s the leaders that decide how to trade off profitability and mission, and that was the hardest part of my job,” said Mr. Systrom, who left Instagram as CEO in... For Kevin Systrom, the most challenging part of running Instagram was resisting the pressure to...

The Athletic's Alex Mather with The Information's Jessica Lessin.

Why The Athletic’s Mather Won’t Join a Subscription Bundle

By Tom Dotan · Nov 8, 2018 2:59pm PST · 4 comments

The co-founder of fast-growing, subscription-sport news site The Athletic expects companies, such as Apple and Medium, to start offering discounted bundles of subscription news sites. But he thinks it’s a mistake for a publication to join. In an interview with The Information, Alex Mather, whose company recently raised $40 million at... The co-founder of fast-growing, subscription-sport news site The Athletic expects companies, such...

Alibaba CEO Daniel Zhang. Photo by Juro Osawa

The Big Interview

How Alibaba’s New Chief Will Navigate Tougher Times

By Juro Osawa · Nov 8, 2018 2:00pm PST

Jack Ma, China’s most famous billionaire, embraced the limelight with stunts like dancing in a costume to Michael Jackson before a stadium full of employees. On the other hand, Daniel Zhang, the former accountant who will replace Mr. Ma next September as the executive chairman of Alibaba, is practically anonymous. “I enjoy walking on... Jack Ma, China’s most famous billionaire, embraced the limelight with stunts like dancing...

Private Tech Surge Fuels Unicorn Stock Indexes

By Alfred Lee · Nov 8, 2018 7:02am PST

Private Tech Surge Fuels Unicorn Stock Indexes

By Alfred Lee · Nov 8, 2018 7:02am PST

Private tech stocks have hit dizzying highs in recent years, but access to hot deals is often limited to an exclusive club. To meet widening demand from investors, some financial firms are creating ways to bet on fast-growing tech companies that aren’t traded on public markets.At least two indexes are being developed that track the shares... Private tech stocks have hit dizzying highs in recent years, but access to hot deals is often...

Mike Sullivan

Crypto Newsletter

Circle CEO Says Midterms Could Be Bad for Crypto

By Jon Victor · Nov 7, 2018 2:33pm PST

One thing I’ve learned since I started covering this beat is that there is always a blockchain angle—always. So last night, as America waited to see whether the Democrats would flip Congress, we were keeping tabs on a different race: blockchain advocate Jared Polis’ bid for Colorado governor. Mr. Polis, a Democrat who ran... One thing I’ve learned since I started covering this beat is that there is always a...

From Data Centers to AI, a Spending Surge at Big Tech Companies

By Kevin McLaughlin · Nov 7, 2018 7:02am PST · 2 comments

Spending on data centers, the computers needed to run them and undersea internet cables were among the investments contributing to a dramatic surge in capital expenditures this year by some of the biggest technology companies. Facebook and Alphabet, the parent company of Google, boosted their capital expenditures the most of any of their peers,... Spending on data centers, the computers needed to run them and undersea internet cables were...

SoftBank in Talks to Invest in Alibaba-Backed Bike Sharing Startup Hellobike

By Yunan Zhang and Juro Osawa · Nov 7, 2018 3:11am PST

SoftBank is in talks to invest in Chinese bicycle-rental startup Hellobike, at a time when the market is going through a potential shakeup, people familiar with the matter said. The talks are ongoing and the companies haven’t reached an agreement yet, the people said. It is unclear how big an investment would be and at what valuation.... SoftBank is in talks to invest in Chinese bicycle-rental startup Hellobike, at a time when the...

Credit: Erin Beach.

Watch Our New Docuseries PRESSED

By Jessica E. Lessin · Nov 6, 2018 1:09pm PST

Credit: Erin Beach.

Watch Our New Docuseries PRESSED

By Jessica E. Lessin · Nov 6, 2018 1:09pm PST

I'm thrilled to share that our new video series PRESSED is available for your viewing pleasure at www.theinformation.com/pressed starting today. PRESSED, which consists of five episodes of around 10 minutes each, follows five journalism startups in their quest to build new news outlets at a time when many people believe quality... I'm thrilled to share that our new video series PRESSED is available for your viewing...

Monashees co-founder Eric Acher. Photo by Bloomberg

Brazilian VC Fundraising Shows Global Shift

By Juro Osawa · Nov 6, 2018 10:01am PST

Monashees, Brazil’s largest venture capital firm, has raised a new $150 million fund from major U.S. and Asian institutional investors as well as Instagram co-founder Mike Krieger, people familiar with the matter said. The second-biggest VC fund ever to be raised in Latin America reflects a rapidly shifting landscape in the region’s... Monashees, Brazil’s largest venture capital firm, has raised a new $150 million fund from...

Homeless people on the sidewalk in San Francisco's Mission District earlier this year. Photo: AP

Tech Firms Face Reckoning Over Homelessness Crisis

By Cory Weinberg · Nov 6, 2018 7:01am PST · 2 comments

After officials in the San Francisco mayor’s office launched a new fund three years ago to attract corporate donations for low-income housing, they spent months trying to convince the region’s largest tech firms including Alphabet to contribute tens or hundreds of millions of dollars, two people familiar with the matter said. The... After officials in the San Francisco mayor’s office launched a new fund three years ago to...

A voter registration table in Wisconsin in August. Photo by Bloomberg

Amazon’s Next Business: Keeping Elections Secure

By Kevin McLaughlin · Nov 5, 2018 10:02am PST

As millions of voters will be reminded on Tuesday, U.S. elections are run largely on old technology from before the internet age that is vulnerable to hacking. Sensing an opportunity, Amazon this year has ramped up efforts to sell cities and political organizations on election-related software and services, in areas like cybersecurity and voter... As millions of voters will be reminded on Tuesday, U.S. elections are run largely on old...

Elon Musk at a 2015 event. Photo by Bloomberg

What Makes Tesla’s Autopilot Different

By Amir Efrati · Nov 5, 2018 7:00am PST

Elon Musk at a 2015 event. Photo by Bloomberg

What Makes Tesla’s Autopilot Different

By Amir Efrati · Nov 5, 2018 7:00am PST

As Elon Musk works to prove that he can make Tesla profitable and his Autopilot feature safe, it’s worth understanding the difference in how Tesla is developing self-driving car technology versus other companies.These differences relate in part to a potential advantage that Tesla has over other self-driving car developers: It has sold... As Elon Musk works to prove that he can make Tesla profitable and his Autopilot feature safe,...