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

Elon Musk. Photo by Bloomberg

Frustrated Musk Shakes Up Autopilot Team

By Amir Efrati · Jul 9, 2019 7:00am PDT · 4 comments

Several key Tesla engineering managers working on its Autopilot semi-automated driving feature left the company after CEO Elon Musk told some employees he was unhappy with the progress in developing fully automated driving capabilities, according to one current and one former Tesla employee who have been involved in the effort. He is also upset... Several key Tesla engineering managers working on its Autopilot semi-automated driving feature...

The People With Power at WeWork

By Cory Weinberg · Jul 8, 2019 10:01am PDT · 2 comments

WeWork CEO Adam Neumann has said in interviews that his “superpower” is change. Whether his deputies share his comfort with change is another question, as roles atop the company are often in flux, creating uncertainty about who aside from Mr. Neumann holds power at WeWork. Reporting lines at the company shift often. People close to... WeWork CEO Adam Neumann has said in interviews that his “superpower” is change....

Illustration by Danielle Davis

At Sun Valley, Plenty of Sellers but Few Buyers

By Jessica Toonkel · Jul 8, 2019 7:01am PDT · 3 comments

Media and tech moguls gather at Sun Valley in Idaho this week for the annual Allen & Co. conference after one of the biggest years for deals in media in decades. Now the question is which company will be swallowed up next.Among the most likely targets are smaller film and TV studios: MGM, Lionsgate and possibly Sony Pictures and cable... Media and tech moguls gather at Sun Valley in Idaho this week for the annual Allen & Co....

Watching Tim Cook at Sun Valley

By Jessica E. Lessin · Jul 6, 2019 7:46am PDT

Watching Tim Cook at Sun Valley

By Jessica E. Lessin · Jul 6, 2019 7:46am PDT

The stakes are high for many CEOs at Sun Valley this year, which begins this Tuesday. Silicon Valley needs to make nice with its enemies, with looming antitrust investigations that could break apart several businesses. The large media conglomerates, which have long agitated for such scrutiny of tech, are themselves still trying to rearrange the... The stakes are high for many CEOs at Sun Valley this year, which begins this Tuesday. Silicon...

Prof. Margaret O'Mara. Photo by Jim Garner

Q&A

New Book Highlights Silicon Valley’s Military Roots

By Nick Wingfield · Jul 5, 2019 7:01am PDT · 4 comments

Over the past year, workers at Google, Microsoft and Amazon have demanded that their employers stop supplying technology to the U.S. military and other government agencies. But a new book from the historian Margaret O’Mara shows how the tech industry might not exist without the patronage of big government—and particularly the defense... Over the past year, workers at Google, Microsoft and Amazon have demanded that their employers...

The Information’s 411 — Alexa, What’s the Holdup?

By Priya Anand · Jul 3, 2019 3:52pm PDT · 1 comment

Jessica Toonkel explains how Netflix is trying to be smarter about its spending. Priya discusses how Alexa, once hailed as the next big platform after mobile, doesn't seem to be getting there. Jessica Toonkel explains how Netflix is trying to be smarter about its spending. Priya discusses...

Mike Sullivan

Crypto Newsletter

What Gemini’s Expansion Means

By Jon Victor · Jul 3, 2019 12:18pm PDT · 1 comment

It turns out last week’s rally was short-lived, with bitcoin pulling back after reaching as high as $13,500. People in the industry I’ve spoken with are still mindful of last year’s plunge, and say they would rather see the market gain steam more gradually. “Once a new base is formed, prices are likely to move... It turns out last week’s rally was short-lived, with bitcoin pulling back after reaching as...

AWS CEO Andy Jassy. Photo by Bloomberg

Open Source Battle Over AWS Intensifies

By Kevin McLaughlin · Jul 3, 2019 7:01am PDT · 7 comments

AWS CEO Andy Jassy. Photo by Bloomberg

Open Source Battle Over AWS Intensifies

By Kevin McLaughlin · Jul 3, 2019 7:01am PDT · 7 comments

It’s a burning question in the open source community: Is Amazon Web Services friend or foe? New data provides a clue.AWS incorporates open source software in its services, which some say helps increase overall usage but others say undermines the small firms that developed the software and are trying to make a business out of it. It’s... It’s a burning question in the open source community: Is Amazon Web Services friend or foe?...

David Stern. Photo by Bloomberg

Q&A

Former NBA Head David Stern on How Sports Betting Can Save TV Rights

By Tom Dotan · Jul 2, 2019 11:33am PDT

As sports betting gradually becomes legal across the country, there may be one unexepected beneficiary: the league’s TV rights, argues former NBA Commissioner David Stern.He expects the ratings for games to go up as people who have bets riding on the results tune in—even if they’re not necessarily fans of the teams.... As sports betting gradually becomes legal across the country, there may be one unexepected...

Illustration by Josh Brill

Alexa, Is Voice Still the Next Big Thing After Mobile?

By Priya Anand · Jul 2, 2019 7:01am PDT · 8 comments

As buzz about Alexa, Amazon’s voice-activated assistant, spread throughout tech in early 2016, Uber pounced on the opportunity to let people summon cars with a simple command: “Alexa, ask Uber to request a ride.” More than three years later, Uber receives orders for only a few hundred rides a day through Alexa, said a... As buzz about Alexa, Amazon’s voice-activated assistant, spread throughout tech in early...

Didi Chuxing president Jean Liu. Photo by Bloomberg

Didi Chuxing in Talks With SoftBank to Raise Money for Autonomous Driving Unit

By Yunan Zhang, Amir Efrati and Juro Osawa · Jul 1, 2019 10:01am PDT · 1 comment

Didi Chuxing, China’s biggest ride-hailing app, is in talks with its largest shareholder SoftBank and other potential investors about raising fresh capital for its autonomous driving business, people familiar with the matter said.The discussions aren’t finalized and may not necessarily result in a deal, the people said. The... Didi Chuxing, China’s biggest ride-hailing app, is in talks with its largest shareholder...

The stars of Netflix's "Triple Frontier" movie at a premiere screening in Madrid. Photo by AP

Netflix Plays New Role: Budget-Conscious

By Jessica Toonkel, Tom Dotan and Beejoli Shah · Jul 1, 2019 7:01am PDT · 1 comment

The stars of Netflix's "Triple Frontier" movie at a premiere screening in Madrid. Photo by AP

Netflix Plays New Role: Budget-Conscious

By Jessica Toonkel, Tom Dotan and Beejoli Shah · Jul 1, 2019 7:01am PDT · 1 comment

In early June, Netflix content chief Ted Sarandos met with several dozen of his middle-ranking and senior film and TV executives and delivered a blunt message: Be more careful with money.Mr. Sarandos told the group that spending on film and TV projects, particularly big budget movies, needed to be more cost-effective, according to people... In early June, Netflix content chief Ted Sarandos met with several dozen of his middle-ranking...

My Last Interaction With Jony Ive

By Jessica E. Lessin · Jun 29, 2019 7:46am PDT

It was my first week on the Apple beat at the Wall Street Journal in 2011 and Steve Jobs had recently passed away. Tim Cook was in charge, and I was waiting for him to make a big move to show how he was going to be different from—or similar to—Jobs.Cook announced a few changes here and there—corporate philanthropy stuff and the... It was my first week on the Apple beat at the Wall Street Journal in 2011 and Steve Jobs had...

The Information’s 411 — SoftBank, Hard Questions

By Tom Dotan · Jun 28, 2019 3:18pm PDT

Zoe and Cory join to talk about the stories they wrote about SoftBank-backed companies. Zoe discusses the travails at Brandless after SoftBank invested in them last year. Cory explains why WeWork's valuation may not be what it seems. Zoe and Cory join to talk about the stories they wrote about SoftBank-backed companies. Zoe...

Illustration by Mike Sullivan

Regulators Pile On With New Investigations of Tech Companies

By The Information Staff · Jun 28, 2019 12:58pm PDT

Regulators from the U.S. and overseas have ratcheted up the pressure on U.S. technology giants, launching new investigations in recent months of Amazon, Apple, Facebook and Google over anti-competitive behavior, and continuing probes of their data collection and privacy practices.Those four companies together are now the subject of 27... Regulators from the U.S. and overseas have ratcheted up the pressure on U.S. technology giants,...

Miranda Qu, co-founder of Xiaohongshu. Photo by Bloomberg.

E-Commerce Startup Xiaohongshu Seeks to Raise $500 Million

By Yunan Zhang · Jun 28, 2019 10:59am PDT

Miranda Qu, co-founder of Xiaohongshu. Photo by Bloomberg.

E-Commerce Startup Xiaohongshu Seeks to Raise $500 Million

By Yunan Zhang · Jun 28, 2019 10:59am PDT

Xiaohongshu, a Chinese startup that’s a mashup of Instagram and Pinterest, is in talks to raise as much as $500 million at a valuation that could reach $6 billion, said four people familiar with the matter. The talks defy a slowdown in technology funding deals in China. A social media and online retailing startup that lets users post... Xiaohongshu, a Chinese startup that’s a mashup of Instagram and Pinterest, is in talks to...

Facebook's David Marcus. Photo by Bloomberg

Q&A

Facebook’s Marcus Says Libra Association Will Be Independent ‘by Launch’

By Alex Heath · Jun 28, 2019 7:02am PDT

The Information: If we could start with maybe David to start, could you explain why Facebook has hired the handful of people who already worked at the association in key roles? On the Libra website, it says that will be the MD's [managing director’s] job to recruit those positions. I'm just curious how that fits with the goal of... The Information: If we could start with maybe David to start, could you explain why Facebook has...

Facebook's David Marcus. Photo by Bloomberg

Facebook Has ‘Outsized Role’ in Libra Now, Marcus Says, Will Take ‘Backseat’ Later

By Alex Heath · Jun 28, 2019 7:00am PDT · 1 comment

Facebook has publicly tried to distance itself from the Libra digital currency it is creating, signing up more than two dozen companies to help run an organization to manage the currency called the Libra Association. But behind the scenes, Facebook has exerted early influence over the makeup of the association by hiring the handful of executives... Facebook has publicly tried to distance itself from the Libra digital currency it is creating,...

Apple CEO Tim Cook, left, and Chief Design Officer Jonathan Ive in 2018. Photo by Bloomberg

Before Departure, Apple’s Jony Ive Faded From View

By Aaron Tilley and Wayne Ma · Jun 27, 2019 9:01pm PDT · 2 comments

In recent years, one of Apple’s most important executives, its design chief Jonathan Ive, has spent much of his time working from an unusual location 50 miles north of Apple’s Silicon Valley headquarters. Inside a brick carriage house sandwiched between the gilded mansions of San Francisco’s Pacific Heights neighborhood,... In recent years, one of Apple’s most important executives, its design chief Jonathan Ive,...

Photo courtesy of Magma.

Cool Melon, Mung Bean Flavors Power Vaping Startup’s China Push

By Shai Oster · Jun 27, 2019 10:01am PDT

Photo courtesy of Magma.

Startup of the Week

Cool Melon, Mung Bean Flavors Power Vaping Startup’s China Push

By Shai Oster · Jun 27, 2019 10:01am PDT

Modern vaping was invented in China, and about 90% of the electronic cigarettes sold in the world are made there. But the country is currently home to only about two million e-cigarette users. That’s a situation former cigarette accessory industry executive Michael Gao wants to turn to his advantage with his vaping startup, Moti... Modern vaping was invented in China, and about 90% of the electronic cigarettes sold in the world...