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

Jobs@TheInformation

Be Our Head of Marketing!

By The Information Staff · Jul 18, 2019 12:12pm PDT

The Information is one of the largest media subscription businesses, focusing on quality journalism about the technology industry and the businesses it is disrupting.We have been recognized as a news disruptor by organizations like Vanity Fair, Business Insider and Fast Company, and our journalism has won numerous awards. We believe we are only... The Information is one of the largest media subscription businesses, focusing on quality...

Marcos Leta. Photo courtesy of Fazenda Futuro.

Startup of the Week

This Startup Wants to be Beyond Meat of Brazil

By Juro Osawa · Jul 18, 2019 10:01am PDT · 1 comment

In the U.S., investors are salivating over plant-based burgers. Beyond Meat has seen its market capitalization more than double to $10 billion since it went public in May. Now, the meatless meat mania is starting to spread to other parts of the world. And that’s what Brazilian entrepreneur Marcos Leta is betting on.Mr. Leta’s... In the U.S., investors are salivating over plant-based burgers. Beyond Meat has seen its market...

The People With Power at Amazon Web Services

By Amir Efrati and Kevin McLaughlin · Jul 18, 2019 7:01am PDT

Since Amazon stumbled into the cloud computing business 13 years ago, its Amazon Web Services division has soared to more than $25 billion in annual sales, accounting for nearly 59% of the internet retailer’s operating income. In contrast, it has taken Salesforce—no slouch in the cloud computing business—nearly two decades to... Since Amazon stumbled into the cloud computing business 13 years ago, its Amazon Web Services...

Mike Sullivan

Lawmakers Grapple With How to Rein In Libra

By Jon Victor · Jul 17, 2019 1:11pm PDT

Mike Sullivan

Crypto Newsletter

Lawmakers Grapple With How to Rein In Libra

By Jon Victor · Jul 17, 2019 1:11pm PDT

Greetings from Washington, D.C. The price of bitcoin took a slight hit this week, after Facebook’s David Marcus testified at two hearings on Capitol Hill about the social media giant’s plans for Libra. Mr. Marcus, whom we profiled this week, fielded questions on a variety of topics, from how Facebook would stop Libra from being used... Greetings from Washington, D.C. The price of bitcoin took a slight hit this week, after...

Luther Lowe. Photo courtesy of Yelp.

In Google Fight, Yelp’s Antitrust Crusader Now Has Company

By Ashley Gold · Jul 17, 2019 10:01am PDT

Luther Lowe, Yelp’s head of public policy, for years has sought to convince regulators that Google had been allowed to become too powerful and should be reined in. For just as long, regulators largely ignored his complaints. But now Mr. Lowe concedes that Yelp might have been going about things the wrong way.In an interview with The... Luther Lowe, Yelp’s head of public policy, for years has sought to convince regulators that...

Art by Danielle Davis

Inside Apple Factory Thefts: Secret Tunnels, Hidden Crawl Spaces

By Wayne Ma · Jul 17, 2019 7:01am PDT

Six years ago, a warehouse employee at one of Apple’s top suppliers, Jabil, stole thousands of iPhone 5C casings from a factory in China before the product was announced. The employee, with help from a security guard, falsified documents and avoided security cameras as he drove a truck filled with the candy-colored shells out of the gates,... Six years ago, a warehouse employee at one of Apple’s top suppliers, Jabil, stole thousands...

SoftBank managing partner Jeff Housenbold. Photo by Bloomberg

SoftBank Considers Investment in Delivery Startup goPuff

By Cory Weinberg and Amir Efrati · Jul 16, 2019 3:07pm PDT · 2 comments

SoftBank recently has been in discussions to invest hundreds of millions of dollars in on-demand delivery startup goPuff, three people familiar with the matter said. A deal would raise the profile of goPuff, which delivers beer cases, Juul pods and munchies largely to college students.If completed, the deal also would raise new questions about... SoftBank recently has been in discussions to invest hundreds of millions of dollars in on-demand...

The People With Power at Facebook’s Calibra

By Alex Heath · Jul 16, 2019 12:21pm PDT · 1 comment

The People With Power at Facebook’s Calibra

By Alex Heath · Jul 16, 2019 12:21pm PDT · 1 comment

At Facebook’s new Calibra subsidiary, the group’s leader, David Marcus, relies on a mix of Facebook veterans and people from his Silicon Valley past to figure out how to weave the Libra digital currency into the social media giant’s family of apps. Of the eight people who report directly to him, two used to work at PayPal,... At Facebook’s new Calibra subsidiary, the group’s leader, David Marcus, relies on a...

Facebook's David Marcus. Photo by Bloomberg

Facebook’s Marcus in Spotlight with Libra Hearings

By Alex Heath and Jon Victor · Jul 16, 2019 6:00am PDT

In February 2018—as rumors swirled about Facebook’s interest in supporting cryptocurrencies in its apps—one of the company’s top executives, David Marcus, told a gathering of venture capitalists in Los Angeles not to hold their breath about such a plan. Mr. Marcus, the former president of PayPal who had... In February 2018—as rumors swirled about Facebook’s interest in supporting...

Art by Sam Lessin

Modest Proposals

The Future of Free Speech

By Sam Lessin · Jul 15, 2019 10:01am PDT · 6 comments

Late last month more than one hundred technologists, academics and journalists gathered in San Francisco to talk about the future of free speech. The event—which I organized with Andrew Kortina and Slow Ventures—tackled a range of topics related to how technology is upending how we communicate with each other, consume information and... Late last month more than one hundred technologists, academics and journalists gathered in San...

Indiana governor Eric Holcomb with SF Motors founder John Zhang touring Seres' Indiana factory in May of last year. Photo by AP

Inside the Chinese Tesla Challenger’s Failed U.S. Plans

By Juro Osawa · Jul 15, 2019 7:01am PDT

The past year has been a time of intense activity for some employees at the Santa Clara headquarters of Seres, a Chinese-owned, Silicon Valley–based electric car maker once described in U.S. media as a Tesla challenger. One worker built a Lego Star Trek spaceship at his desk. Others played pool, foosball and UNO for hours. Some watched... The past year has been a time of intense activity for some employees at the Santa Clara...

What’s At Stake for Silicon Valley in the Trade Battle With China

By Jessica E. Lessin · Jul 13, 2019 7:47am PDT

What’s At Stake for Silicon Valley in the Trade Battle With China

By Jessica E. Lessin · Jul 13, 2019 7:47am PDT

This week our Asia team stayed up late to lead a subscriber conference call on the future relationship between Chinese and U.S. tech. Foreign correspondents must join new parents as among the most sleep-deprived sets of humans. (Shout out to those on our team who are both!)It was a great call, and I learned a lot from our team, which includes... This week our Asia team stayed up late to lead a subscriber conference call on the future...

The Information’s 411 — Behind Barr

By Tom Dotan · Jul 12, 2019 1:44pm PDT

Chris Stern joins to talk about AG Bill Barr and how his time in the private sector informs how he'll handle investigations of tech companies. Cory dives into the massive winter losses at Bird and why the company thinks it's turned a corner. Chris Stern joins to talk about AG Bill Barr and how his time in the private sector informs how...

Tech IPOs Scoring Higher Valuations in 2019 Than 2018

By Alfred Lee and Ross Matican · Jul 12, 2019 7:02am PDT · 2 comments

This year’s spate of tech IPOs has produced some misses, like Uber and Lyft, and some big hits like Zoom Video. But what was the overall pattern in the first half of the year?Despite the increased number of offerings, the average returns of IPOs so far this year mirror the impressive gains seen in the first half of 2018. And measured as a... This year’s spate of tech IPOs has produced some misses, like Uber and Lyft, and some big...

Kaiyo founder Alpay Koralturk.

Startup of the Week

Kaiyo Seeks to Ease the Hassle of Buying Used Furniture

By Zoë Bernard · Jul 11, 2019 10:02am PDT · 1 comment

Kaiyo, a 5-year-old online furniture consignment shop formerly known as Furnishare, was founded to help urban dwellers moving from one set of tight quarters to another solve a common problem: where to buy or sell unwanted furniture easily and on short notice.Kaiyo does this by offering free pickup of used furniture, which it takes to a... Kaiyo, a 5-year-old online furniture consignment shop formerly known as Furnishare, was founded...

A Bird electric scooter. Photo by Bloomberg.

Hit by Big Loss, Bird Seeks $300M in New Funds

By Cory Weinberg and Amir Efrati · Jul 11, 2019 7:00am PDT · 26 comments

A Bird electric scooter. Photo by Bloomberg.

Hit by Big Loss, Bird Seeks $300M in New Funds

By Cory Weinberg and Amir Efrati · Jul 11, 2019 7:00am PDT · 26 comments

The wintertime was bleak for Bird. In this year’s first quarter, the electric scooter operator lost nearly $100 million while revenue shrank sharply to only about $15 million, people familiar with the matter said. In the spring, it told people it was down to about $100 million in cash, even after raising more than $700 million over a year... The wintertime was bleak for Bird. In this year’s first quarter, the electric scooter...

Martin Schroeter. Photo courtesy of IBM

IBM Sales Chief Says Red Hat Poised for Growth

By Kevin McLaughlin · Jul 10, 2019 1:03pm PDT

Open source software provider Red Hat saw its revenue growth slow significantly in fiscal 2019 as sales of its subscription software faltered. But the top sales executive at IBM, which completed a $34 billion acquisition of Red Hat on Tuesday, says being part of IBM will help get Red Hat back on track.In an exclusive interview with The... Open source software provider Red Hat saw its revenue growth slow significantly in fiscal 2019 as...

Mike Sullivan

Crypto Newsletter

Lawmakers to Grill Facebook on Libra Plans

By Jon Victor and Ashley Gold · Jul 10, 2019 12:18pm PDT

Get ready for another deluge of Libra headlines. The head of Facebook’s crypto project, David Marcus, is set to testify before Congress twice next week, in hearings that are shaping up to be contentious.Some House lawmakers already have asked Facebook to halt all work on Libra until after the hearings, but the company not surprisingly... Get ready for another deluge of Libra headlines. The head of Facebook’s crypto project,...

An attendee at a Facebook conference using the Oculus Quest virtual reality headset. Photo by Bloomberg

Next on Facebook’s Shopping List: Acquisitions to Beef Up Gaming

By Alex Heath · Jul 10, 2019 7:00am PDT · 2 comments

Facebook is looking to buy game studios and ink exclusive deals for virtual reality versions of well-known games to bolster its Oculus VR headset business, according to two people familiar with the matter. As part of the new effort, in which CEO Mark Zuckerberg is personally involved, Facebook has already signed deals for exclusive VR... Facebook is looking to buy game studios and ink exclusive deals for virtual reality versions of...

Attorney General William Barr. Photo by Bloomberg

For Attorney General Barr, a Thorny History With Silicon Valley

By Christopher Stern · Jul 9, 2019 10:00am PDT · 1 comment

Attorney General William Barr. Photo by Bloomberg

For Attorney General Barr, a Thorny History With Silicon Valley

By Christopher Stern · Jul 9, 2019 10:00am PDT · 1 comment

William Barr spent most of the 24 years between his first and second stints as U.S. attorney general working for Verizon as general counsel and serving on the board of Time Warner, two companies that over that period were among Silicon Valley’s biggest policy opponents. Now Mr. Barr holds the fate of Google and Apple in his hands, as the... William Barr spent most of the 24 years between his first and second stints as U.S. attorney...