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

Wall Street ‘08 vs. Silicon Valley ‘18

By Jessica E. Lessin · Sep 15, 2018 4:00pm PDT · 3 comments

Outside the tech bubble this week, the media was awash with stories pegged to the 10th anniversary of the collapse of Lehman Brothers and onset of the 2008 financial crisis. And there was one analogy some commentators seemed to want to draw very badly: comparing the financial crisis to a coming reckoning for Silicon Valley. (Example, here. Outside the tech bubble this week, the media was awash with stories pegged to the 10th...

The Information’s 411 — Walmart’s Soldiers

By Priya Anand · Sep 14, 2018 11:32am PDT

Cory talks about how Airbnb and other tech companies try to circumvent local regulation by lobbying statehouses. Priya outlines how Walmart is trying to compete with Amazon. Cory talks about how Airbnb and other tech companies try to circumvent local regulation by...

The FDA's headquarters in Maryland. Photo by AP

Scientists Accuse FDA of Bad Science on BPA

By Reed Albergotti · Sep 14, 2018 10:02am PDT · 3 comments

The Food and Drug Administration has long been at war with academic scientists about whether a compound used in water bottles and thousands of other products called bisphenol A is safe. For a decade, the agency has dismissed hundreds of academic studies showing potential harm caused by BPA, as it is known, instead citing studies sponsored by the... The Food and Drug Administration has long been at war with academic scientists about whether a...

A Facebook data center in Sweden. Photo by Bloomberg

Tech Giants Join Forces to Score AI Chips

By Aaron Tilley · Sep 14, 2018 7:02am PDT · 1 comment

A Facebook data center in Sweden. Photo by Bloomberg

Tech Giants Join Forces to Score AI Chips

By Aaron Tilley · Sep 14, 2018 7:02am PDT · 1 comment

A wave of new chips designed to run artificial intelligence software will soon be hitting the market. Device makers are waiting to use them in products like cameras that can identify images faster, and cloud computing providers want them to give their services a technical edge. First though, the companies have to figure out which chips perform... A wave of new chips designed to run artificial intelligence software will soon be hitting the...

Sources: Pitchbook; The Information

Market Rally Lifts 2018 Tech IPOs

By Alfred Lee · Sep 13, 2018 9:29am PDT · 1 comment

It has been a strong year for tech IPOs, with high-profile firms including Spotify and DocuSign soaring well above their initial prices on the public markets. Their performance stands in contrast to last year, when notable IPOs like Snap and Blue Apron flopped spectacularly. More deals are to come: Ticketing site Eventbrite and survey firm... It has been a strong year for tech IPOs, with high-profile firms including Spotify and DocuSign...

Tencent's Honor of Kings mobile game on an iPhone in Hong Kong last year. Photo by Bloomberg

Apple’s China App Store Loophole

By Wayne Ma and Juro Osawa · Sep 13, 2018 7:01am PDT

In Apple’s iOS App Store in China, videogames such as “Grand Theft Auto: San Andreas,” “Modern Combat 5” and “The Walking Dead” are for sale. Those games aren’t supposed to be available in the country. They lack approvals from regulators, a prerequisite every game needs before it can be released in... In Apple’s iOS App Store in China, videogames such as “Grand Theft Auto: San...

Crypto Newsletter

ConsenSys Growth Plans; Ethereum Pulse Check

By Jon Victor · Sep 12, 2018 12:31pm PDT · 1 comment

Dear Subscriber, Can somebody please check on Ethereum? The smart-contract network’s market cap has plummeted from a high of more than $138 billion in January to below $18 billion as of today. Exacerbating the decline is the fact that Ethereum was the engine for 2017’s ICO mania, which seems to have dissipated: ICO fundraising in... Dear Subscriber, Can somebody please check on Ethereum? The smart-contract network’s market...

Source: Second Measure Data

U.S. Slowdown at Uber and Lyft

By Amir Efrati · Sep 12, 2018 10:01am PDT · 2 comments

Source: Second Measure Data

U.S. Slowdown at Uber and Lyft

By Amir Efrati · Sep 12, 2018 10:01am PDT · 2 comments

The once-hot ride-hailing business is cooling down—just as the two biggest players are thinking about going public.Revenue growth rates for the U.S. ride-hailing businesses of Uber and Lyft slowed this summer to their lowest point in years, according to research firm Second Measure, which tracks credit and debit card transactions. Growth... The once-hot ride-hailing business is cooling down—just as the two biggest players are...

Photos by Bloomberg, Company website. Source: The Information

The People With (Digital) Power at Walmart

By Priya Anand · Sep 12, 2018 7:01am PDT

Shortly after Marc Lore joined Walmart, an employee asked the company’s new U.S. ecommerce chief at an all-hands meeting if there were any books he read for inspiration. Mr. Lore replied that he wasn’t much of a reader, preferring instead to spend his time thinking, said one current Walmart employee who saw the presentation and... Shortly after Marc Lore joined Walmart, an employee asked the company’s new U.S. ecommerce...

Sentient CEO Babak Hodjat at a conference in New Orleans in May. Photo by Flickr/Collision Conf

AI Startup’s Stumbles Show Challenges in Crowded Market

By Kevin McLaughlin · Sep 11, 2018 10:30am PDT · 3 comments

Artificial intelligence startup Sentient Technologies seemed to have hit paydirt three years ago when it landed customers such as shoe retailer Zappos and shoe maker Skechers for its software, which uses AI algorithms to recommend products to shoppers. But in the past year Sentient has stumbled in efforts to diversify into advertising and... Artificial intelligence startup Sentient Technologies seemed to have hit paydirt three years ago...

David Gorodyansky, founder and CEO of privacy startup AnchorFree. Photo by Bloomberg

Venture Capitalists Look to Privacy Investments as Interest Rises

By Sarah Kuranda · Sep 11, 2018 7:00am PDT · 2 comments

When Dimitri Sirota approached investors two years ago to raise a seed round for his new company, BigID, many were dismissive of the idea behind the startup, which creates technology that helps companies find what personal data they have collected from customers and get recommendations on how to secure it. In the meetings, some of the venture... When Dimitri Sirota approached investors two years ago to raise a seed round for his new company,...

Justin Simien, the creator of "Dear White People." Photo by AP

At Netflix, Speed is Key

By Beejoli Shah · Sep 10, 2018 10:00am PDT · 9 comments

Justin Simien, the creator of "Dear White People." Photo by AP

At Netflix, Speed is Key

By Beejoli Shah · Sep 10, 2018 10:00am PDT · 9 comments

TV shows have been produced the same way for decades. But in its quest to revolutionize how people watch TV, Netflix is revolutionizing how TV shows are made.Take the popular show “Dear White People,” which debuted last year. After creator Justin Simien made his pitch about the show—based on the movie of the same... TV shows have been produced the same way for decades. But in its quest to revolutionize how...

A driver for Uber and Lyft alongside a New York City taxi. Photo by Bloomberg.

Uber, Airbnb Fight Cities by Lobbying States

By Cory Weinberg · Sep 10, 2018 7:02am PDT

The proliferation of Uber, Airbnb and now electric scooters has prompted city councils and mayors’ offices around the country to impose rules on how the companies can operate. But as the restrictions mount, city officials are running up against a conundrum: Tech’s urban disruptors are diminishing cities’ authority in some... The proliferation of Uber, Airbnb and now electric scooters has prompted city councils and...

Google’s Choice: Washington, D.C. or Beijing

By Jessica E. Lessin · Sep 8, 2018 8:53am PDT · 1 comment

While the tech industry was fixated on Washington D.C. this week, I was thinking about a country 12 time zones away.China wasn’t the subject of the Senate Committee on Intelligence hearings where Facebook’s Sheryl Sandberg and Twitter’s Jack Dorsey dutifully said little of note. President Trump didn’t bring it up when... While the tech industry was fixated on Washington D.C. this week, I was thinking about a country...

The Information’s 411 — A Job You Could Do in Your Sleep

By Priya Anand · Sep 7, 2018 4:22pm PDT

Priya and Reed discuss whether concerns about big tech will resonate with voters. Tom and Aaron talk about Apple's Eddy Cue, who leads several services at the company such as music and video, where Apple is playing catch-up. Priya and Reed discuss whether concerns about big tech will resonate with voters. Tom and Aaron...

An Amazon Go store in Seattle. Photo by Bloomberg

Amazon to Open Cashierless ‘Go’ Store in New York

By Priya Anand · Sep 7, 2018 11:27am PDT · 2 comments

An Amazon Go store in Seattle. Photo by Bloomberg

Amazon to Open Cashierless ‘Go’ Store in New York

By Priya Anand · Sep 7, 2018 11:27am PDT · 2 comments

Amazon’s cashierless convenience store is headed for its biggest stage yet: New York. On Thursday night, the internet retailer posted at least four job listings related to an Amazon Go store in the New York area. The listings seek candidates for a store manager, an assistant store manager, a learning and development manager, and a training... Amazon’s cashierless convenience store is headed for its biggest stage yet: New York. On...

Discord CEO Jason Citron.

Q&A

Why Tencent-Backed Gaming Chat App Is Taking On Steam

By Tom Dotan · Sep 7, 2018 7:00am PDT

One of the hottest startups in gaming isn’t a game developer. It’s a chat app called Discord.While little known outside the gaming world, Discord is hugely popular with gamers, boasting 150 million users,19 million of whom use it daily. That has drawn the attention of investors: backers include Tencent and venture capitalists such as... One of the hottest startups in gaming isn’t a game developer. It’s a chat app called...

Photo by Bloomberg

Apple Hires Former Condé Nast Executive for News App

By Aaron Tilley · Sep 6, 2018 3:00pm PDT

Apple is beefing up the management of its Apple News product, with the recent hiring of veteran media executive Liz Schimel.The hiring is another sign of the increasing importance of Apple’s news operation, which has become a significant source of traffic for many media organizations at a time when Facebook is placing less emphasis on... Apple is beefing up the management of its Apple News product, with the recent hiring of veteran...

With Low Salaries, Amazon Executives Rely on Stock

By Martin Peers and Priya Anand · Sep 6, 2018 7:02am PDT · 2 comments

Amazon has a reputation for paying its warehouse workers poorly. It turns out even its top executives aren’t well paid, at least by the lavish standards of tech leaders in corporate America.Senior executives at the tech giant earn relatively low salaries—up to $175,000 in 2017, well below the $650,000 or more earned by their... Amazon has a reputation for paying its warehouse workers poorly. It turns out even its top...

Facebook COO Sheryl Sandberg and Twitter CEO Jack Dorsey on Capitol Hill on Wednesday. Photo by Bloomberg

Tech Is a Bogeyman, but Will Voters Respond?

By Nick Wingfield and Reed Albergotti · Sep 5, 2018 7:01pm PDT

Facebook COO Sheryl Sandberg and Twitter CEO Jack Dorsey on Capitol Hill on Wednesday. Photo by Bloomberg

Tech Is a Bogeyman, but Will Voters Respond?

By Nick Wingfield and Reed Albergotti · Sep 5, 2018 7:01pm PDT

On Wednesday, Senator Bernie Sanders escalated his attacks on Amazon with a new bill aimed at ending public subsidies for big companies whose employees rely on federal assistance. Meanwhile, top executives from Twitter and Facebook were grilled in congressional hearings over foreign election interference on social media. And after the first of... On Wednesday, Senator Bernie Sanders escalated his attacks on Amazon with a new bill aimed at...