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The Briefing

By Martin Peers, Jessica Lessin and the team at The Information

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Recent Editions

Huawei's headquarters in Germany. Photo by AP.
Exclusive

Huawei in Talks With Banks to Raise $2 Billion

By Juro Osawa · Jan 8, 2020 2:14pm PST · 1 comment
Huawei is in talks with several international banks as part of an effort to raise about $2 billion through loans and bond sales outside China, people familiar with the matter said. The fundraising is partly aimed at showing that the Chinese company can still get international banks on board for its future financing plans, despite U.S. sanctions.... Huawei is in talks with several international banks as part of an effort to raise about $2...
Subscriber Survey

Elon Musk Is Tech Founder of the Decade, Subscribers Say

By Chris Noble · Jan 8, 2020 11:21am PST · 2 comments
Tesla CEO and SpaceX founder Elon Musk edged out Facebook’s Mark Zuckerberg and Amazon’s Jeff Bezos as the most important tech company founder of the last decade, according to our most recent subscriber survey.Musk garnered almost entirely positive comments from subscribers, who lauded him for transforming the auto industry, pushing... Tesla CEO and SpaceX founder Elon Musk edged out Facebook’s Mark Zuckerberg and...
Twitch headquarters in San Francisco. Photo by Shutterstock
Exclusive

How Big Is Amazon’s Twitch? Revenues Reveal Ad Struggles

By Priya Anand · Jan 8, 2020 7:01am PST · 1 comment
After Amazon paid nearly $1 billion to acquire the streaming video service Twitch more than five years ago, it looked like the company had a shot at turning it into the next YouTube. That view got a boost when Twitch began pushing beyond its main audience of gamers into cooking and craft videos.  So far, though, Twitch is falling short... After Amazon paid nearly $1 billion to acquire the streaming video service Twitch more than five...
Getaround to Lay Off About One-Fourth of Staff
By Cory Weinberg · Jan 7, 2020 11:11am PST · 2 comments
Exclusive

Getaround to Lay Off About One-Fourth of Staff

By Cory Weinberg · Jan 7, 2020 11:11am PST · 2 comments
Car-rental startup Getaround plans to lay off roughly 150 employees, or about a quarter of its staff, in a bid to reduce rising costs, people familiar with the matter said. Getaround’s chief executive told The Information that the cuts mostly will involve employees handling day-to-day interactions between car owners and renters.Getaround... Car-rental startup Getaround plans to lay off roughly 150 employees, or about a quarter of its...
WeWork's former CEO Adam Neumann. Photo by Bloomberg
True Value

Why Tech ‘Run Rates’ Should Raise Eyebrows

By Nick Wingfield · Jan 7, 2020 7:01am PST · 8 comments
When We Co.—the parent of WeWork—filed to go public last fall, its financial disclosures showed the company had “run rate revenue” of $2.4 billion as of Dec. 31 2018. But in a different spot in the IPO filing, WeWork reported its actual 2018 revenue as $1.8 billion—25% lower. Run rate revenue has joined a host... When We Co.—the parent of WeWork—filed to go public last fall, its financial...
Erika Nardini, CEO of Barstool Sports; Simon Denyer, CEO of DAZN; Alex Mather, CEO of The Athletic. Photos by Bloomberg and The Information.

Why 2020 Could Bring a Merger Wave to Online Sports

By Tom Dotan and Jessica Toonkel · Jan 6, 2020 10:30am PST
This year is shaping up to be a big year for digital sports media companies such as The Athletic, Barstool Sports and Action Network. New business opportunities are emerging from the growth of legalized sports betting. The Athletic is expanding into the U.K. Several others, including Overtime and FuboTV, are raising money. Last month, daily... This year is shaping up to be a big year for digital sports media companies such as The Athletic,...
Art by Danielle Davis
Exclusive

Uber CEO Khosrowshahi Struggles to Find Formula for Success

By Amir Efrati · Jan 6, 2020 7:02am PST · 3 comments
As 2020 begins, Uber CEO Dara Khosrowshahi faces what is shaping up to be a year of reckoning. Uber’s market capitalization has dropped $29 billion since it went public in May. It likely lost five to six times as much money in 2019 as it forecast in presentations to banks two years ago. And it has lost ground in its ride-hailing, scooter... As 2020 begins, Uber CEO Dara Khosrowshahi faces what is shaping up to be a year of reckoning....
Art by Danielle Davis
What to Watch and Listen to in 2020
By Jessica E. Lessin · Jan 4, 2020 7:45am PST
Art by Danielle Davis
The Takeaway

What to Watch and Listen to in 2020

By Jessica E. Lessin · Jan 4, 2020 7:45am PST
As any The Information reader knows, it is the golden age of digital television and, increasingly audio. But even when you are cruising through content at 1.5x speed, time is limited and you can’t watch it all. To help, our team compiled a list of shows and podcasts you shouldn’t miss. Some have gotten a lot of publicity. Many... As any The Information reader knows, it is the golden age of digital television and, increasingly...
Podcast

The Information’s 411 — Hindsight Is 2020

By Tom Dotan · Jan 3, 2020 2:16pm PST
Tom and Jessica wrap up 2019, looking back at the year for Facebook, startup fundraising and media. Tom and Jessica wrap up 2019, looking back at the year for Facebook, startup fundraising and...
A Revel moped being ridden in Brooklyn, N.Y., last year. Photo: Bloomberg
Exclusive

Brooklyn’s Moped Upstart Readies West Coast Expansion

By Cory Weinberg · Jan 3, 2020 7:00am PST · 1 comment
Revel, a startup that rents electric mopeds, had such high ridership after launching service in Brooklyn last May that it took all hands on deck to keep the mopeds running and on the street. Revel’s CEO had to personally swap out vehicle batteries when they ran low on power. It didn’t take long for Revel to expand elsewhere.... Revel, a startup that rents electric mopeds, had such high ridership after launching service in...
Facebook's Michael Abrash at an Oculus event in 2018. Photo by Bloomberg
Q&A

Facebook’s Chief Scientist: Mass Adoption of AR Is Years Away

By Alex Heath · Jan 2, 2020 10:01am PST · 1 comment
Five to 10 years. That’s how long Michael Abrash, chief scientist at Facebook, predicts it will take before augmented reality glasses—which will display digital images and data on wearable devices that people view through—are ready for the masses. Abrash leads Facebook Reality Labs, a Redmond, Washington–based research... Five to 10 years. That’s how long Michael Abrash, chief scientist at Facebook, predicts it...
Why Slack Will Be Acquired
By Kevin McLaughlin · Jan 2, 2020 7:01am PST · 9 comments
2020 Predictions

Why Slack Will Be Acquired

By Kevin McLaughlin · Jan 2, 2020 7:01am PST · 9 comments
This time last year, Slack Technologies, the popular workplace chat provider, was one of the most eagerly anticipated public tech debuts of 2019. That seems like a long time ago. Since Slack went public in June, its stock has dropped about 40%.The reason for the slump: Revenue growth at Slack is slowing and competition is intensifying,... This time last year, Slack Technologies, the popular workplace chat provider, was one of the most...
Henrique Dubugras, co-founder and chief executive office of Brex. Photo by Bloomberg

A Startup Resolution: More Meditation, Fewer Happy Hours

By Zoë Bernard · Dec 31, 2019 7:00am PST
At first, employees at Bluume were skeptical.In July, the marketing software startup’s co-founders sent out an email inviting employees to cut back on their drinking as a part of several daily fitness goals. With that in mind, Bluume’s management stopped organizing outings to the Taco Tuesday Happy Hour at the Mexican bar near... At first, employees at Bluume were skeptical.In July, the marketing software startup’s...
Cast and crew of the Disney Plus series "The Mandalorian" at a premiere in Los Angeles last month. Photo by AP
2020 Predictions

Disney’s Streaming Service Will Show Big Subscriber Numbers—at First

By Tom Dotan · Dec 30, 2019 10:01am PST
Walt Disney Co. is expected to reveal by February how many subscribers its new streaming service, Disney Plus, has signed up. I’m betting the numbers will be huge. By the fall of next year, I predict, Disney will be more than halfway to its 2024 target of 60 million to 90 million subscribers, with between 35 million and 45 million... Walt Disney Co. is expected to reveal by February how many subscribers its new streaming service,...
A Mochila warehouse. Photo by Mochila

Amazon Spawns a Wave of Logistics Startups

By Priya Anand · Dec 30, 2019 7:01am PST
Amazon has become a logistics and transportation powerhouse, so much so that the company now handles half of its own deliveries worldwide. And numerous Amazon employees are taking the expertise they’ve developed at the e-commerce giant to startups that aim to help other companies ship products to customers faster.Those startups, which... Amazon has become a logistics and transportation powerhouse, so much so that the company now...
Books to Read in 2020
By Jessica E. Lessin · Dec 28, 2019 7:46am PST
The Takeaway

Books to Read in 2020

By Jessica E. Lessin · Dec 28, 2019 7:46am PST
At the end of every year, we give our subscribers a peek at the books that most entertained or enlightened our staff over the past 12 months. This year’s list is an eclectic mix of nonfiction titles, including political histories, business books, and memoirs. Two of them—both about the events that helped spark the MeToo... At the end of every year, we give our subscribers a peek at the books that most entertained or...
Podcast

The Information’s 411 — When God Opens a Streaming Door He Closes a Theatrical Window

By Tom Dotan · Dec 27, 2019 4:30pm PST · 1 comment
Jessica Toonkel makes her prediction about how streaming services will affects the theater and movie industries. Kevin discusses AWS and its relationship with the open-source community. Jessica Toonkel makes her prediction about how streaming services will affects the theater and...
Ali Ghodsi, co-founder and chief executive officer of Databricks. Photo by Bloomberg
The Big Interview

Databricks Dismisses Open Source Criticism of Amazon

By Kevin McLaughlin · Dec 27, 2019 7:00am PST · 2 comments
To some advocates of open source—the software created by squads of volunteer developers—Amazon has become a bogeyman because of the way it offers their free programs through its cloud computing arm, Amazon Web Services. Ali Ghodsi isn’t one of the Amazon haters. Ghodsi is the CEO of Databricks, a six-year-old startup that... To some advocates of open source—the software created by squads of volunteer...
Toptal CEO Taso Du Val. Photo by Stephen McCarthy/Flickr

The Information’s Top 10 Stories of 2019

By The Information Staff · Dec 26, 2019 3:10pm PST
The Information’s top stories of the year include profiles of major tech figures Jony Ive and Andy Jassy, a look at Amazon’s efforts to crack the Hollywood code and a revealing examination into how employees at a growing startup missed out on equity in the business:10. Before Departure, Apple’s Jony Ive Faded From ViewThe... The Information’s top stories of the year include profiles of major tech figures Jony Ive...
Verizon’s 5G wireless signage at the Mobile World Congress Americas event in Los Angeles in October. Photo: Bloomberg
Why the 5G Rollout Will Fall Short of Expectations
By Christopher Stern · Dec 26, 2019 10:01am PST · 6 comments
Verizon’s 5G wireless signage at the Mobile World Congress Americas event in Los Angeles in October. Photo: Bloomberg
2020 Predictions

Why the 5G Rollout Will Fall Short of Expectations

By Christopher Stern · Dec 26, 2019 10:01am PST · 6 comments
After years of escalating hype, the wireless industry is finally rolling out 5G. And next year, with many more 5G-capable phones expected to hit the market, the new technology should become a reality for consumers.Yet despite promises of blazing speeds and coast-to-coast coverage, the leading mobile phone providers are on track to deliver little... After years of escalating hype, the wireless industry is finally rolling out 5G. And next year,...