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

Apple CEO Tim Cook. Photo by Bloomberg

Apple Eyes 2022 Release for AR Headset, 2023 for Glasses

By Wayne Ma, Alex Heath and Nick Wingfield · Nov 11, 2019 5:01am PST · 3 comments

Apple is aiming to release an augmented-reality headset in 2022 and a sleeker pair of AR glasses by 2023, The Information has learned. Apple executives discussed the timelines, which haven’t been previously reported, in an internal presentation to employees at the company’s Cupertino, California, campus in October, according to... Apple is aiming to release an augmented-reality headset in 2022 and a sleeker pair of AR glasses...

How Tech Investors Missed by a Mile: TAM vs. SAM

By Jessica E. Lessin · Nov 9, 2019 7:44am PST · 4 comments

SoftBank’s Masayoshi Son and JPMorgan’s Jamie Dimon issued mea culpas about WeWork this week, admitting to mistakes and lessons learned. One of them: when backing a business with billions of dollars, it’s important to pay more attention to how it is going to make money. A shocker right? Yet an appreciation for the... SoftBank’s Masayoshi Son and JPMorgan’s Jamie Dimon issued mea culpas about WeWork...

The Information’s 411 — Myths and Origins

By Tom Dotan · Nov 8, 2019 4:00pm PST

Priya talks about the companies that have inflated their origin story and why these myths matter. Kevin dives into the feud between Rubrik and Cohesity. Priya talks about the companies that have inflated their origin story and why these myths...

Rubrik CEO Bipul Sinha and Cohesity CEO Mohit Aron. Photos by Bloomberg (Sinha), Cohesity (Aron)

Inside Enterprise Tech’s Newest Feud: Rubrik vs. Cohesity

By Kevin McLaughlin · Nov 8, 2019 7:01am PST · 1 comment

Rubrik CEO Bipul Sinha and Cohesity CEO Mohit Aron. Photos by Bloomberg (Sinha), Cohesity (Aron)

Inside Enterprise Tech’s Newest Feud: Rubrik vs. Cohesity

By Kevin McLaughlin · Nov 8, 2019 7:01am PST · 1 comment

A decade ago, Mohit Aron and Bipul Sinha were on the same team—Aron as the co-founder of Nutanix, then an innovative new data-center software startup, and Sinha as an early investor and board member in the company. Now the two are enmeshed in one of the tech industry’s most bitter rivalries. In early 2013, Aron left Nutanix to... A decade ago, Mohit Aron and Bipul Sinha were on the same team—Aron as the co-founder of...

EU antitrust chief Margrethe Vestager. Photo: Bloomberg

Europe’s Big Tech Crackdown Tough to Replicate in U.S.

By Ashley Gold · Nov 7, 2019 10:28am PST · 3 comments

Europe’s top antitrust enforcer, Margrethe Vestager, is so revered by advocates of tougher competition policy in the U.S. that one longtime antagonist of big tech, Yelp head of public policy Luther Lowe, keeps custom-made candles emblazoned with the regulator’s image on his desk. But those hoping for a European-style crackdown... Europe’s top antitrust enforcer, Margrethe Vestager, is so revered by advocates of tougher...

Zynga CEO Frank Gibeau. Photo by Bloomberg

The Big Interview

Zynga, No Longer a Game Has-Been, Hunts for Acquisitions

By Nick Wingfield · Nov 7, 2019 7:00am PST

When Frank Gibeau became chief executive of Zynga in 2016, the mobile games publisher behind one-time sensations like “FarmVille” and “Words with Friends” was a shambles. With revenue in decline and a history of bungled acquisitions, Zynga had a market capitalization of around $2 billion, a tad more than the combined... When Frank Gibeau became chief executive of Zynga in 2016, the mobile games publisher behind...

Richard Zhang of Full Truck Alliance. Photo by SunYiye@UKON

Asia Tech and Transportation Summit

Autonomous Vehicle Software Better for Trucking Than Ride-Hailing, Executives Say

By Wayne Ma · Nov 6, 2019 10:46am PST · 3 comments

Self-driving vehicle technology could generate more economic benefits for the trucking industry than ride-hailing, executives at several autonomous-driving and logistics startups said Wednesday at The Information’s Asia tech and transportation event.Richard Zhang, chief financial officer at long-haul trucking broker Full Truck Alliance,... Self-driving vehicle technology could generate more economic benefits for the trucking industry...

Meng Xing, chief operating officer of Didi’s autonomous driving unit. Photo by SunYiye@UKON

Didi Takes Different Path on Self-Driving Software Than Lyft and Uber

By Wayne Ma · Nov 6, 2019 10:01am PST

Meng Xing, chief operating officer of Didi’s autonomous driving unit. Photo by SunYiye@UKON

Asia Tech and Transportation Summit

Didi Takes Different Path on Self-Driving Software Than Lyft and Uber

By Wayne Ma · Nov 6, 2019 10:01am PST

Chinese ride-hailing giant Didi Chuxing will take a different approach to autonomous driving than its American counterparts Uber and Lyft are, according to Didi’s top autonomous car executive.When Didi launches a fleet of self-driving cars for its ride-hailing service in the future, the Chinese company will initially use its own homegrown... Chinese ride-hailing giant Didi Chuxing will take a different approach to autonomous driving than...

Seed Investors to Watch

The Information’s Seed Investors to Watch

By Amir Efrati and Zoë Bernard · Nov 6, 2019 7:01am PST · 3 comments

In the last few years, everyone has become a seed investor. From veteran venture capitalists to hedge funds, private tech investors are looking to invest in companies earlier and earlier. But the number of deals has been flat—or shrinking. There have been about 1,000 seed deals for U.S. venture-backed companies per quarter since 2013,... In the last few years, everyone has become a seed investor. From veteran venture capitalists to...

Founder Collective partners Micah Rosenbloom, Eric Paley and David Frankel. Photo courtesy of Founder Collective

How We Selected Our Seed Investors to Watch

By Amir Efrati and Zoë Bernard · Nov 6, 2019 7:01am PST

To put together our list of seed investors, The Information worked with Tribe Capital, a data-driven early stage venture fund, which analyzed a long list of seed investors, and then did our own reporting on the firms to put the findings in context. Tribe didn’t include itself in the list of firms.Here’s how Tribe’s analysis... To put together our list of seed investors, The Information worked with Tribe Capital, a...

Reality of Global Streaming Market May Fall Short of Forecasts

By Martin Peers · Nov 5, 2019 10:09am PST · 3 comments

If you believe all the projections from big entertainment companies and Wall Street analysts, the number of people globally signing up for one of the video streaming services from Disney, Apple, WarnerMedia and Netflix will reach roughly 600 million by the mid-2020s—nearly four times the number who now pay for Netflix alone. Throw in... If you believe all the projections from big entertainment companies and Wall Street analysts, the...

As Lockups Expire, Tech Stocks Tumble—Uber’s Turn This Week

By Carleton English · Nov 5, 2019 7:02am PST · 1 comment

As Lockups Expire, Tech Stocks Tumble—Uber’s Turn This Week

By Carleton English · Nov 5, 2019 7:02am PST · 1 comment

The 2019 class of tech IPOs is entering the final phase of their public debuts—lockup expiration. That’s when the stocks get their real grade from investors. And so far, the grade hasn’t been good.In recent months, lockup expiration—when pre-IPO shareholders are allowed to sell—has depressed stocks already poorly... The 2019 class of tech IPOs is entering the final phase of their public debuts—lockup...

Roma Downey and Mark Burnett. Photo by AP

Burnett, Downey Looking to Raise $100 Million for Religious Streaming Service

By Jessica Toonkel · Nov 4, 2019 10:38am PST

Mark Burnett, the TV producer behind “The Apprentice” and “Survivor,” and his actress wife Roma Downey are trying to raise $100 million to launch a subscription-based streaming service for Christian viewers, according to people familiar with the situation. The fundraising effort comes as the number of streaming... Mark Burnett, the TV producer behind “The Apprentice” and “Survivor,” and...

Graphic by Sam Lessin

Modest Proposals

The Key Themes That Matter for the Future of Work

By Sam Lessin · Nov 4, 2019 10:01am PST · 1 comment

A few years ago, if you asked most technologists around Silicon Valley which technologies would affect the future of work, the discussion would have centered around AI, self-driving cars, fully digital assistants and the inevitability of long-term technological unemployment. Everyone was focused on the implications of AI as a fundamental, new... A few years ago, if you asked most technologists around Silicon Valley which technologies would...

Facebook CEO Mark Zuckerberg. Photo by Bloomberg

Startup Origin Stories: A Mix of Fact and Fiction

By Priya Anand · Nov 4, 2019 7:01am PST · 4 comments

Hims co-founder and CEO Andrew Dudum has told reporters in the past that the men’s wellness company, which sells generic Viagra and hair loss prevention products, was inspired by the time his sister told him his skin was “wrinkly” and bought him $300 worth of products to fix it. The part of Hims’ history that he... Hims co-founder and CEO Andrew Dudum has told reporters in the past that the men’s...

Apple's Zack Van Amburg, Eddy Cue (in red pants) with Jennifer Aniston, Apple CEO Tim Cook, Reese Witherspoon and Apple's Jamie Erlicht
at the "The Morning Show" premiere in New York. Photo by AP

We’ve Reached Peak Content. Now What?

By Jessica E. Lessin · Nov 2, 2019 7:46am PDT

Apple's Zack Van Amburg, Eddy Cue (in red pants) with Jennifer Aniston, Apple CEO Tim Cook, Reese Witherspoon and Apple's Jamie Erlicht
at the "The Morning Show" premiere in New York. Photo by AP

We’ve Reached Peak Content. Now What?

By Jessica E. Lessin · Nov 2, 2019 7:46am PDT

There were dozens of violinists playing across the balcony at Lincoln Center, free-flowing food and booze and scented candles in the bathroom that cost $45 a piece. This week’s star-studded New York premiere of Apple’s “The Morning Show” was a splashy affair, even by Apple standards. It was also a sign of the kind of... There were dozens of violinists playing across the balcony at Lincoln Center, free-flowing food...

The Information’s 411 — HBO Appomattox

By Tom Dotan · Nov 1, 2019 3:47pm PDT

Beejoli and Tom discuss the latest battle in the streaming wars as WarnerMedia unveiled HBOMax. Nick Bastone makes his first appearance to talk about how Google has tweaked its hiring strategy to focus less on culture fit. Beejoli and Tom discuss the latest battle in the streaming wars as WarnerMedia unveiled HBOMax....

Vimeo CEO Anjali Sud. Photo by Bloomberg

WTF: Women in Tech, Media & Finance

Five Questions for Anjali Sud, CEO of Vimeo

By Jessica Toonkel · Nov 1, 2019 12:08pm PDT · 1 comment

When Anjali Sud took over as CEO of Vimeo two years ago, the so-called streaming wars between the likes of Netflix, Hulu and others were heating up. Yet she saw that it was going to be an expensive proposition for Vimeo to try to compete. So she opted to focus on Vimeo’s strength—helping creators and businesses offer their own video... When Anjali Sud took over as CEO of Vimeo two years ago, the so-called streaming wars between the...

One of Fitbit's smart watches. Photo by Bloomberg

Facebook Held Talks to Buy Fitbit Before Google Struck Deal

By Alex Heath · Nov 1, 2019 9:26am PDT · 2 comments

Before Google reached a $2.1 billion deal to buy Fitbit, announced on Friday, Facebook held talks to acquire the smartwatch maker, according to two people familiar with the situation. But Facebook was interested in buying Fitbit at roughly half what Google proved willing to pay, one of the people with direct knowledge of the talks said.... Before Google reached a $2.1 billion deal to buy Fitbit, announced on Friday, Facebook held talks...

Chinese workers at a WeWork in Shanghai in 2017. Photo by AP

WeWork’s China Syndrome: Weak Demand, Stiff Competition

By Juro Osawa · Nov 1, 2019 7:01am PDT · 2 comments

Chinese workers at a WeWork in Shanghai in 2017. Photo by AP

WeWork’s China Syndrome: Weak Demand, Stiff Competition

By Juro Osawa · Nov 1, 2019 7:01am PDT · 2 comments

This spring, when WeWork was preparing to open its first co-working space in the ancient Chinese capital of Xi’an, local sales manager Gao Zhipeng had a problem. His boss in Beijing told him to recruit big global companies, likening WeWork to a five-star hotel for elite customers. But big global companies in Xi’an, such as Samsung... This spring, when WeWork was preparing to open its first co-working space in the ancient Chinese...