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

Nick Bell, Katie Goldsmith and Charles Porch with Jessica Lessin on Tuesday. Photo by Erin Beach

Future of Direct-to-Consumer Relationships Is Smaller, Passionate Audiences

By Beejoli Shah · Nov 20, 2019 8:00am PST

As entertainment companies compete for viewer attention in an increasingly crowded field, they’re learning that one of the ways to stand out to consumers is by not trying to be everything to everyone. Rather than solely chasing zeitgeist moments, some companies are finding success in supplying smaller audiences with exactly what they want... As entertainment companies compete for viewer attention in an increasingly crowded field,...

Disney CEO Bob Iger. Photo by Bloomberg

Disney’s Shift Shows Cable Channels Losing Status to Streaming in Big Media

By Beejoli Shah and Tom Dotan · Nov 20, 2019 7:01am PST

Late last year, as Disney’s streaming division discussed how to program Disney Plus, the service that launched last week, its team came up with a radical idea. They suggested moving reruns of Disney Channel shows off the cable outlet and putting them only on the streaming service, say people familiar with the situation.The idea prompted... Late last year, as Disney’s streaming division discussed how to program Disney Plus, the...

Hollywood producer Jason Blum with The Information's Jessica Lessin on Tuesday night. Photo by Erin Beach.

Hollywood Spending Boom Has at Least Two More Years, Says Producer Jason Blum

By Tom Dotan and Beejoli Shah · Nov 19, 2019 8:41pm PST

The usual rules of business economics don’t apply right now in Hollywood, as tech and media companies engage in a “land grab” for streaming subscribers by spending heavily on programming, Hollywood producer Jason Blum said on Tuesday. He predicted this period would last for another two to four years.New services, ranging from... The usual rules of business economics don’t apply right now in Hollywood, as tech and media...

Susanne Daniels. Photo by Bloomberg.

Airbnb Searching for TV Exec to Run Video Effort

By Jessica Toonkel, Beejoli Shah and Cory Weinberg · Nov 19, 2019 2:47pm PST

Susanne Daniels. Photo by Bloomberg.

Airbnb Searching for TV Exec to Run Video Effort

By Jessica Toonkel, Beejoli Shah and Cory Weinberg · Nov 19, 2019 2:47pm PST

Airbnb is looking to hire an experienced entertainment executive to oversee its video programming efforts as it seeks to diversify into making TV shows, according to two people familiar with the situation. The talent search signals that the travel company is committed to expanding into entertainment.Airbnb has approached a wide range of people... Airbnb is looking to hire an experienced entertainment executive to oversee its video programming...

Zuckerberg’s Anti-China Rhetoric Roils Facebook Employees

By Wayne Ma · Nov 19, 2019 7:01am PST

Facebook CEO Mark Zuckerberg’s Georgetown address about free speech last month drew skeptical commentary from many quarters. But for one group of Facebook workers—its community of Chinese employees—his comments touched a particularly sensitive nerve. Zuckerberg’s criticism of Chinese video app TikTok and China’s... Facebook CEO Mark Zuckerberg’s Georgetown address about free speech last month drew...

Fidelity’s Andy Boyd.

Fidelity Executive Who Backed Uber, WeWork, to Depart

By Kevin Dugan · Nov 18, 2019 2:31pm PST

Andy Boyd, a top executive at Fidelity who oversaw billions of dollars in investments into some of the largest companies in Silicon Valley, is leaving the mutual fund company at the end of the year. Boyd, a 15-year veteran of Fidelity who has been head of the global equity capital markets group since 2013, made his name at the mutual... Andy Boyd, a top executive at Fidelity who oversaw billions of dollars in investments into some...

Monashees CEO Eric Acher. Photo by Bloomberg

VC Firm’s New $280M Fund Shows Growing Investor Interest in Latin America

By Juro Osawa · Nov 18, 2019 10:01am PST · 2 comments

Monashees, Brazil’s biggest venture capital firm, has raised a new $280 million fund from ultra-wealthy individuals in Latin America as well as U.S. and Asian institutional investors, according to people familiar with the matter. It is one of the biggest VC funds ever to be raised in Latin America, where local startups are attracting some... Monashees, Brazil’s biggest venture capital firm, has raised a new $280 million fund from...

Photo by Bloomberg. Art by Jesse Howe

In Keith Rabois’ Silicon Valley, Nice Guys Finish Last

By Cory Weinberg and Zoë Bernard · Nov 18, 2019 7:01am PST

Photo by Bloomberg. Art by Jesse Howe

In Keith Rabois’ Silicon Valley, Nice Guys Finish Last

By Cory Weinberg and Zoë Bernard · Nov 18, 2019 7:01am PST

Keith Rabois, a prominent venture capital investor, has publicly blasted tech companies who take money linked to Saudi Arabia on the grounds that the kingdom discriminates against Jews, gays and women.Yet among the firms that have benefited from Saudi support is Opendoor, a tech-fueled real estate startup that Rabois helped found in 2014.... Keith Rabois, a prominent venture capital investor, has publicly blasted tech companies who take...

The IPO View From Morgan Stanley

By Jessica E. Lessin · Nov 16, 2019 7:45am PST

It is getting to be that time when we look back at 2019, which you may recall was supposed to be a banner year for tech IPOs. It’s fallen short of expectations on multiple fronts from the number of deals (well below last year) to how they are performing. We’ll have more to say on that in the coming weeks. A few weeks ago, I sat... It is getting to be that time when we look back at 2019, which you may recall was supposed to be...

The Information’s 411 — AR You Not Entertained?

By Tom Dotan · Nov 15, 2019 3:54pm PST

Nick talks about Apple's internal meeting about its augmented reality plans. Jessica Toonkel discusses Disney's big streaming launch and what comes next. Nick talks about Apple's internal meeting about its augmented reality plans. Jessica Toonkel...

Amazon CEO Jeff Bezos and JPMorgan Chase CEO Jamie Dimon. Photos by Bloomberg

Amazon Quietly Scrapped Checking Account Plans

By Priya Anand and Kevin Dugan · Nov 15, 2019 12:37pm PST

This week, Google confirmed that it will soon offer checking accounts to its users. But one of the company’s biggest rivals—Amazon—doesn’t appear to be joining it with a similar product anytime soon. After exploring a partnership with banks early last year to offer an Amazon-branded checking account, Amazon quietly... This week, Google confirmed that it will soon offer checking accounts to its users. But one of...

Illustration by Danielle Davis

Freemium Love: Tech Transforms Dating in San Francisco

By Zoë Bernard · Nov 15, 2019 7:00am PST · 4 comments

Illustration by Danielle Davis

Freemium Love: Tech Transforms Dating in San Francisco

By Zoë Bernard · Nov 15, 2019 7:00am PST · 4 comments

When a venture capitalist invited Jane Dinh, an entrepreneur in San Francisco, out for a second date a couple years ago, he had an unusual question for her. Would she be interested in pretending to be homeless with him for a night?The venture capitalist, whom Dinh met through a dating app, told her he wanted to see if he could “live with... When a venture capitalist invited Jane Dinh, an entrepreneur in San Francisco, out for a second...

Announcing TI Young Professionals Live

By Jessica E. Lessin · Nov 14, 2019 9:14am PST

I am thrilled to announce a brand new initiative for our subscribers who are earlier in their careers—free quarterly video conference calls on how to build your career in tech. As a founder and also a startup reporter for more than a decade, I have had a lot of exposure to the industry of consultants, coaches and recruiters who help... I am thrilled to announce a brand new initiative for our subscribers who are earlier in their...

Richard Yu, CEO of Huawei Technologies' consumer business, in September. Photo by Bloomberg

Huawei’s Google Problem Runs Deep

By Juro Osawa and Nick Bastone · Nov 14, 2019 7:02am PST · 2 comments

The world’s second largest smartphone maker is going to have a harder time divorcing Google than it thought. Huawei, the Chinese tech giant, has been scrambling for months to figure out how to sell its phones in international markets since U.S. sanctions blocked it from using Google’s mobile services. Huawei executives... The world’s second largest smartphone maker is going to have a harder time divorcing Google...

Disney Plus' introductory page. Photo by AP

Early Streaming Glitches Highlight Disney’s Tech Challenges

By Tom Dotan and Kevin McLaughlin · Nov 13, 2019 4:42pm PST

Disney’s revelation on Wednesday that it signed up 10 million subscribers for Disney Plus on its first day was as strong an indication as any that it will quickly become a formidable player in the streaming space—and also gave some explanation for its early technical woes.A few hours after launch on Tuesday morning, customers began... Disney’s revelation on Wednesday that it signed up 10 million subscribers for Disney Plus...

SoftBank CEO Masayoshi Son. Photo: AP

Masayoshi Son, WeWork Execs to Meet as Decisions Loom

By Cory Weinberg · Nov 13, 2019 2:04pm PST

SoftBank CEO Masayoshi Son. Photo: AP

Masayoshi Son, WeWork Execs to Meet as Decisions Loom

By Cory Weinberg · Nov 13, 2019 2:04pm PST

SoftBank CEO Masayoshi Son plans to visit WeWork’s San Francisco office Thursday as the company’s senior leadership discusses decisions including potential layoffs of thousands of employees. The leadership team also is expected to consider a financial plan to present to the company’s board of directors in the coming weeks,... SoftBank CEO Masayoshi Son plans to visit WeWork’s San Francisco office Thursday as the...

Disney CEO Bob Iger. Photo by Bloomberg

Disney’s Next Streaming Challenge: Absorbing Hulu

By Jessica Toonkel and Tom Dotan · Nov 13, 2019 7:01am PST

Disney’s launch of Disney Plus on Tuesday put in place the second of its three-part streaming strategy, following last year’s debut of its ESPN Plus sports service. Now, Disney executives are expected to turn their attention to the final piece, Hulu, the decade-old streaming service that became part of Disney earlier this year.That... Disney’s launch of Disney Plus on Tuesday put in place the second of its three-part...

What Pinterest Could Learn From Facebook and Snap

What Pinterest Could Learn From Facebook and Snap

By Tom Dotan · Nov 12, 2019 11:14am PST

Here’s a tip for Pinterest executives: Think about hiring some overseas ad sales people from Snap, Facebook or Twitter. Third quarter earnings from the four major social media companies—Facebook, Twitter, Snap and Pinterest—show that Pinterest by a wide margin trails the three others in how much money it makes off its... Here’s a tip for Pinterest executives: Think about hiring some overseas ad sales people...

An attendee at Mobile World Congress in Barcelona this year wearing a Microsoft Hololens AR headset. Photo by Bloomberg

As Apple Plans Come Into Focus, Big Challenges Remain for AR

By Nick Wingfield and Alex Heath · Nov 12, 2019 7:01am PST · 4 comments

When Raven Zachary co-founded a firm in 2015 to build augmented reality applications, he figured it would take years for the market for the new technology to develop. Now, though, Zachary says he was a “little aggressive” in his predictions for how long it will take for AR to go mainstream. His experience in the trenches of the AR... When Raven Zachary co-founded a firm in 2015 to build augmented reality applications, he figured...

The Athletic's Alex Mather with The Information's Jessica Lessin at an event last year. Photo by Erin Beach

The Athletic, Axios Raising Money as Rivals Consolidate

By Jessica Toonkel and Tom Dotan · Nov 11, 2019 1:04pm PST · 2 comments

The Athletic's Alex Mather with The Information's Jessica Lessin at an event last year. Photo by Erin Beach

The Athletic, Axios Raising Money as Rivals Consolidate

By Jessica Toonkel and Tom Dotan · Nov 11, 2019 1:04pm PST · 2 comments

Two of the younger digital media startups, The Athletic and Axios, are raising money to fuel diversification of their businesses, even as older media firms are consolidating.The Athletic, a subscription sports news site, is raising around $50 million at a valuation north of $500 million, said people familiar with the situation. The company has... Two of the younger digital media startups, The Athletic and Axios, are raising money to fuel...