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

A local resident in Shanghai used a smartphone to have the QR code scanned through Tencent's WeChat Pay. Photo: AP

Tencent to Invest in Brazilian Fintech Startup at $4 Billion Valuation

By Wayne Ma and Juro Osawa · Oct 8, 2018 2:51am PDT · 1 comment

Chinese internet giant Tencent has agreed to invest about $200 million in Brazil’s Nubank, which offers virtual credit cards, in a deal that values the startup at around $4 billion, a person familiar with the matter said. Tencent’s first investment in Brazil makes Nubank one of the most valuable startups in Latin America. It is the... Chinese internet giant Tencent has agreed to invest about $200 million in Brazil’s Nubank,...

Facebook Gets a Taste of Its Own Medicine

By Jessica E. Lessin · Oct 6, 2018 6:01pm PDT · 1 comment

“Should Mark move Facebook out of Silicon Valley?”It was a strange text message to receive Thursday afternoon, but I instantly knew what it was about: this well-reported New York Times article revealing the uproar that had occurred inside Facebook over vice president of global policy Joel Kaplan sitting behind his close friend and... “Should Mark move Facebook out of Silicon Valley?”It was a strange text message to...

A technician worked on a Skip scooter at the company's repair shop in San Francisco. Photo: Bloomberg

Conference Call

Scooters’ Big Challenges: Batteries, Lane Space, Bad Weather

By Cory Weinberg · Oct 5, 2018 12:53pm PDT · 1 comment

The electric scooter market has expanded rapidly, yet some scooter executives think the fast growth has obscured real challenges with issues such as hardware, battery charging and road space.On Thursday, executives at three scooter and bike companies, Ryan Rzepecki, CEO of Uber-owned Jump, Michael Keating, CEO of Scoot, and Darren Weingard,... The electric scooter market has expanded rapidly, yet some scooter executives think the fast...

The Information’s 411 — Terms and Conditions Probably Apply

By Priya Anand · Oct 5, 2018 11:02am PDT

The Information’s 411 — Terms and Conditions Probably Apply

By Priya Anand · Oct 5, 2018 11:02am PDT

Amir dissects the Bloomberg report about China using hidden chips to hack American hardware. Alfred describes the terms SoftBank sets when it makes big investments in startups. Amir dissects the Bloomberg report about China using hidden chips to hack American hardware....

Heather Lommatzsch’s Tesla Model S after crashing into the back of a fire truck in South Jordan, Utah, in May. Photo: South Jordan Police Department

Tesla Gives Mixed Messages on Hands-Free Driving

By Matt Drange · Oct 5, 2018 7:00am PDT · 7 comments

One of the most appealing features of Tesla’s cars is their ability to steer themselves. But the semi-autonomous “Autopilot” feature has been linked to a series of crashes, and increasingly is blamed for encouraging drivers to take their eyes off the road and their hands off the wheel.Tesla has responded by sending drivers... One of the most appealing features of Tesla’s cars is their ability to steer themselves....

From left: Marni Walden, Jan Koum, Anand Chandrasekher, George Strompolos, Kenny Tsai, Elliot Shmukler, Wendy Bahr, Peter Fernandez.

On the Market: Veterans of Verizon, Jump, Intel

By The Information Staff · Oct 4, 2018 7:02am PDT

Quite a few high-profile executives have left their jobs in tech and media in recent months, prompted both by mergers and acquisitions and separately by tensions at the top of big organizations such as Facebook. For our latest batch of Free Agents—well-known executives who might be available for hire—we profile the former chief... Quite a few high-profile executives have left their jobs in tech and media in recent months,...

Traveloka CFO Henry Hendrawan. Photo by Bloomberg

Asia Tech Gold Rush Boosts Travel Startup to $4 Billion Price Tag

By Juro Osawa · Oct 4, 2018 1:48am PDT · 2 comments

As U.S. and Asian tech giants pour billions of dollars into Southeast Asia, local startup valuations are soaring. Now, one of the region’s biggest online travel sites is in talks for a new funding round which would double its valuation to $4.1 billion, said a person familiar with the matter.Indonesia-based Traveloka, backed by Expedia of... As U.S. and Asian tech giants pour billions of dollars into Southeast Asia, local startup...

Mike Sullivan

The Index Token Debate

By Jon Victor · Oct 3, 2018 12:41pm PDT · 1 comment

Mike Sullivan

Crypto Newsletter

The Index Token Debate

By Jon Victor · Oct 3, 2018 12:41pm PDT · 1 comment

One headline from the past week stands out among the rest: Coinbase could be raising more money. The company is said to be in talks to raise up to $500 million from Tiger Global at a valuation of $8 billion. Although Coinbase was thought to be turning away investors earlier this year, it seems the crypto company has come around to the idea of... One headline from the past week stands out among the rest: Coinbase could be raising more money....

Photo: Shutterstock.com

Foreign Venture Capitalists Raising Large Funds for China

By Yunan Zhang · Oct 3, 2018 11:36am PDT · 1 comment

Even as China’s domestic investors struggle to raise cash, U.S. venture capitalists and other firms based outside of China are gathering record sums of money to invest in China. Morningside, an early backer of Xiaomi, the smartphone maker listed in Hong Kong, is raising $1 billion. GGV, which backed Alibaba and travel company Qunar.com, is... Even as China’s domestic investors struggle to raise cash, U.S. venture capitalists and...

Apoorva Mehta, founder and CEO of Instacart, at an event last year. Photo by Bloomberg

Instacart Expected to Top $3 Billion in Orders This Year

By Priya Anand · Oct 3, 2018 7:01am PDT

Instacart is on track to surpass $3 billion in grocery orders this year, as the same-day delivery service expands the number of supermarkets it works with, The Information has learned. That figure would represent more than double its business from last year.The previously undisclosed figures show how Instacart has managed to thrive in the wake... Instacart is on track to surpass $3 billion in grocery orders this year, as the same-day delivery...

Announcing The Information’s 2018 Hong Kong Subscriber Event

By Jessica E. Lessin · Oct 2, 2018 5:52pm PDT

The Information's second annual Hong Kong subscriber event is coming Monday, November 12. This don’t-miss event is the annual meeting of The Information community in Asia. This year we are going to be discussing the following themes: How to plot your next business move in Asia amid signs of a slowdown in China and the trade war. Asia... The Information's second annual Hong Kong subscriber event is coming Monday, November 12. ...

Pedro Canahuati, vice president of engineering at Facebook. Photo by Facebook

At Facebook, Breach Puts Security, Privacy Teams in Focus

By Sarah Kuranda · Oct 2, 2018 10:50am PDT

Pedro Canahuati, vice president of engineering at Facebook. Photo by Facebook

At Facebook, Breach Puts Security, Privacy Teams in Focus

By Sarah Kuranda · Oct 2, 2018 10:50am PDT

Last Tuesday, engineers at Facebook were conducting a routine investigation of some unusual activity around one of the social network’s online features, when they discovered the alarming signs of a hacker attack. They flagged it for immediate examination by more senior engineers, including Pedro Canahuati, a vice president of engineering... Last Tuesday, engineers at Facebook were conducting a routine investigation of some unusual...

A Waymo self-driving van in Chandler, Ariz. Photo: Waymo

Waymo Collision Shows Flaws in Self-Driving Car Tests

By Amir Efrati · Oct 2, 2018 7:02am PDT · 8 comments

One morning in June, a self-driving car prototype developed by Alphabet’s Waymo unit drove itself northbound on the freeway not far from the company’s headquarters in Mountain View, Calif. The Waymo vehicle, a white Chrysler Pacifica minivan, traveled on a route that the company uses to test different versions of autonomous vehicle... One morning in June, a self-driving car prototype developed by Alphabet’s Waymo unit drove...

Uxin founder Dai Kun

The Big Interview

Why China’s Electric Car Market Is Falling Short

By Shai Oster · Oct 1, 2018 10:01am PDT · 2 comments

Can China, already the world’s biggest market for electric vehicles, get even bigger? With a mix of quotas and billions of dollars of state and private investment, the government wants one out of every five cars made and sold in China by 2025 to be electric. That would mean annual sales of seven million a year. But the government’s... Can China, already the world’s biggest market for electric vehicles, get even bigger? With...

SoftBank Chairman and CEO Masayoshi Son, at a news conference in Tokyo, in August. Photo: Bloomberg

SoftBank Asserts More Control Over Startups

By Alfred Lee · Oct 1, 2018 7:01am PDT · 3 comments

SoftBank is changing the tech landscape by investing massive amounts of money in startups. Increasingly, that money is coming with more strings attached.As it deploys its nearly $100 billion Vision Fund, the investing giant is negotiating deal terms that can go to great lengths to protect its returns and give it greater control over key... SoftBank is changing the tech landscape by investing massive amounts of money in startups....

By Jessica E. Lessin · Sep 29, 2018 1:22pm PDT

Come On, Elon

By Jessica E. Lessin · Sep 29, 2018 1:22pm PDT

(Update: Elon Musk has settled with the Securities and Exchange Commission.)I’ve written little about Elon Musk’s troubles in recent weeks, because frankly I couldn’t think of much interesting to say other than “That’s Elon. He thinks the rules don’t apply to him. But he’s wrong, and this will come back... (Update: Elon Musk has settled with the Securities and Exchange Commission.)I’ve written...

The Information’s 411 — Unfriending Facebook

By Priya Anand · Sep 28, 2018 3:42pm PDT

Jessica Toonkel talks about her profile of BuzzFeed CEO Jonah Peretti. Sarah analyzes Facebook's problems. Jessica Toonkel talks about her profile of BuzzFeed CEO Jonah Peretti. Sarah analyzes...

Conservative Views Sometimes Stifled in Tech, Readers Say

By Wendy Pollack and Mike Sullivan · Sep 28, 2018 10:51am PDT · 9 comments

At a time of intense political polarization, it can be difficult to hold unpopular opinions in Silicon Valley, a majority of readers said in response to The Information’s latest survey. But only a minority of survey respondents said they felt pressure to conform to particular points of view at their own workplaces.Seventy percent of survey... At a time of intense political polarization, it can be difficult to hold unpopular opinions in...

The People to Watch as Scooters, Bikes Heat Up

By Cory Weinberg · Sep 28, 2018 7:01am PDT

In 2010, Nick Foley was working in a New York bike shop when he met Ryan Rzepecki, a transportation planner who had recently been driving horse-drawn carriages in Central Park and was looking for help building bikes for his startup, which later became Jump Bikes.Mr. Foley—now the head of product at Jump, which was acquired by Uber earlier... In 2010, Nick Foley was working in a New York bike shop when he met Ryan Rzepecki, a...

Elon Musk. Photo by Bloomberg

What SEC’s Musk Lawsuit Means for Tesla

By Amir Efrati · Sep 27, 2018 6:27pm PDT · 6 comments

Elon Musk. Photo by Bloomberg

What SEC’s Musk Lawsuit Means for Tesla

By Amir Efrati · Sep 27, 2018 6:27pm PDT · 6 comments

The Securities and Exchange Commission wants to make an example of Tesla CEO Elon Musk and show that when a CEO speaks about a big deal, he ought to mean what he says. But the SEC’s real aim may be to send a message to Tesla’s board that it should exert better control over Mr. Musk—or at least impose adult supervision in... The Securities and Exchange Commission wants to make an example of Tesla CEO Elon Musk and show...