The Briefing by Martin Peers, Jessica Lessin and the team at The Information

Five times/week

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.

By providing your email, you agree to The Information’s Privacy Policy

Recent Editions

An Ele.me delivery courier in Shanghai in April. Photo by AP

Alibaba’s Ele.me Gears Up for Costly Subsidy War With Meituan, Didi

By Yunan Zhang and Juro Osawa · Jul 31, 2018 7:02am PDT · 2 comments

Chinese food delivery app Ele.me, which was acquired by Alibaba a few months ago, is going on a spending spree to gain market share from its biggest rival, Meituan. That’s making consumers like Chen Dabo happy. Mr. Chen, an education startup founder in Shanghai, has signed up for Ele.me’s VIP membership for 10 yuan ($1.47) a month.... Chinese food delivery app Ele.me, which was acquired by Alibaba a few months ago, is going on a...

Modest Proposals

Scooters: The New Self-Driving Cars

By Sam Lessin · Jul 30, 2018 10:01am PDT · 11 comments

The dockless scooter wars are in full swing. With the announcement of huge funding rounds at billion-dollar valuations, deals with ride-hailing companies and a spate of local regulatory action, there is a lot of attention being paid to the scooter market, and a lot of wild predictions being made by industry watchers.As timelines for... The dockless scooter wars are in full swing. With the announcement of huge funding rounds at...

While San Francisco has long tested people’s budgets, the city has seen ‘unprecedented’ growth in housing prices recently. Photo: Bloomberg

Bay Area’s High Costs Drive Away Some Tech Firms

By Cory Weinberg · Jul 30, 2018 7:01am PDT · 3 comments

Jeff Cavins employed many typical Silicon Valley tactics as he tried to grow his new company. The startup Outdoorsy—which helps people rent out their RVs to other travelers—got into a Palo Alto-based accelerator, raised more than $25 million in venture capital and eventually showed hints of success with $150 million in gross sales... Jeff Cavins employed many typical Silicon Valley tactics as he tried to grow his new company. The...

Eight Themes We’re Following Closely

By Jessica E. Lessin · Jul 29, 2018 6:58am PDT

Eight Themes We’re Following Closely

By Jessica E. Lessin · Jul 29, 2018 6:58am PDT

I want to step back this week and talk themes. In the early days of The Information, we couldn’t cover everything so we made our mark where we could, focusing on themes like the rise and significance of messaging (culminating in Facebook’s acquisition of WhatsApp) and the underlying business performance of then (and still) late-stage... I want to step back this week and talk themes. In the early days of The Information, we...

The Information’s 411 — The Jobs Tapes

By Tom Dotan · Jul 27, 2018 1:23pm PDT

Sarah and Martin explain why Facebook and Twitter's earnings set off a panic among investors. Nick reflects on his interview with Steve Jobs, which took place a decade ago at the dawn of the App Store. Sarah and Martin explain why Facebook and Twitter's earnings set off a panic among...

Los Angeles Lakers' Josh Hart and Portland Trail Blazers' Zach Collins during an NBA game earlier this month. Photo by AP

How Cord-Cutting Is Turning Local Sports TV Into Winners and Losers

By Matt Pressberg · Jul 27, 2018 10:02am PDT · 2 comments

The growth of low-cost subscription streaming services such as YouTube TV and DirecTV Now, signing up people who don’t want to pay for cable, is giving a new burst of life to many cable channels getting carried on the services. But there’s one group of channels that aren’t so lucky—and that’s those local sports... The growth of low-cost subscription streaming services such as YouTube TV and DirecTV Now,...

A bullrider during a Professional Bull Riders event. Endeavor now owns the Professional Bull Riders. Photo by AP.

Endeavor Eyes Sports Expansion

By Jessica Toonkel · Jul 27, 2018 7:02am PDT · 1 comment

Endeavor, the talent and sports agency formerly known as WME-IMG, wants to become the ESPN of niche sports.The company, backed by Silver Lake Partners and SoftBank, already owns bullfighting and martial arts competitions, and runs streaming services for both. But now it is considering how to expand these efforts. Endeavor has held talks with the... Endeavor, the talent and sports agency formerly known as WME-IMG, wants to become the ESPN of...

Colin Huang, founder and CEO of Pinduoduo. Photo: Bloomberg

China’s E-Commerce Disrupter Arrives on Nasdaq

By Yunan Zhang · Jul 26, 2018 10:06am PDT · 1 comment

Colin Huang, founder and CEO of Pinduoduo. Photo: Bloomberg

China’s E-Commerce Disrupter Arrives on Nasdaq

By Yunan Zhang · Jul 26, 2018 10:06am PDT · 1 comment

In western China’s bustling industrial city of Chongqing, Xiang Hong looks for today’s bargains on Pinduoduo, her favorite shopping app. The retiree, in her 60s, buys a dress for $5 and a pair of shoes—“real leather,” she says—for just $4. She uses WeChat’s mobile wallet to pay for the items. The prices... In western China’s bustling industrial city of Chongqing, Xiang Hong looks for...

Pedestrians walk past a Yum Brands KFC restaurant in Shanghai. Photo: Bloomberg

Hillhouse Eyes Buyout of KFC Operator Yum China

By Yunan Zhang and Juro Osawa · Jul 26, 2018 6:48am PDT

One of China’s most prominent tech investors, Hillhouse Capital Group, is in talks to acquire Yum China, the country’s biggest fast-food operator, according to three people briefed on the matter. Yum China, whose shares are listed on the New York Stock Exchange with a market capitalization of nearly $13 billion, operates more than... One of China’s most prominent tech investors, Hillhouse Capital Group, is in talks to...

Google Cloud CEO Diane Greene on Tuesday at a company event in San Francisco. Photo: Bloomberg

Why Google Cloud Is Still a Work in Progress

By Kevin McLaughlin · Jul 25, 2018 2:33pm PDT · 2 comments

Diane Greene, the CEO of Google Cloud, stepped on stage Tuesday at the opening of the company’s annual customer conference to proclaim that the cloud unit has officially become an enterprise company. On Wednesday, a parade of other Google Cloud leaders continued to promote the technical advantages of its offerings.But aside from announcing... Diane Greene, the CEO of Google Cloud, stepped on stage Tuesday at the opening of the...

Steve Jobs. Photo by Bloomberg

My 2008 Steve Jobs Interview: Top Quotes

By Nick Wingfield · Jul 25, 2018 7:00am PDT · 1 comment

Today, The Information and the Wall Street Journal published a never-before-released audio transcript of an interview I conducted with Steve Jobs in 2008, a month after Apple opened the mobile floodgates by launching the App Store. You can listen to the entire interview and read the full transcript here. And here are some of my favorite quotes... Today, The Information and the Wall Street Journal published a never-before-released audio...

Steve Jobs in 2008. Photo by Bloomberg.

Hear Steve Jobs, at the Dawn of App Store, Predict the Future of Mobile

By Nick Wingfield · Jul 25, 2018 7:00am PDT · 5 comments

Steve Jobs in 2008. Photo by Bloomberg.

Hear Steve Jobs, at the Dawn of App Store, Predict the Future of Mobile

By Nick Wingfield · Jul 25, 2018 7:00am PDT · 5 comments

In the summer of 2008, I got an unusual invitation: Steve Jobs, then Apple’s chief executive officer, wanted me, then a Wall Street Journal reporter, to come to Apple headquarters to hear how well a fledgling online service for the iPhone—the App Store—did in its first month in business. Even more unusual, he allowed me to... In the summer of 2008, I got an unusual invitation: Steve Jobs, then Apple’s chief...

A sign for Amazon Web Services at a 2017 event in San Francisco. Photo: Bloomberg

AWS Could Use ‘Snowball’ Device as Foothold in Data Centers

By Amir Efrati and Kevin McLaughlin · Jul 24, 2018 3:48pm PDT

For years, Amazon Web Services has coaxed companies and organizations into moving their computing chores into big Amazon facilities known as “public” data centers. But in recognizing that many potential customers aren’t ready to do that, AWS is increasingly embracing one of the hottest trends in information technology: bringing... For years, Amazon Web Services has coaxed companies and organizations into moving their computing...

Illustration by Scotty Reifsnyder

How Snap Made Direct Response Ads a Big Business

By Tom Dotan · Jul 24, 2018 7:01am PDT · 1 comment

In the run-up to Snap’s second quarter earnings due Aug. 7, several Wall Street analysts have lowered their estimates for what the company has already warned will be a weak quarter. The after-effects of Snap’s troubled app redesign earlier this year hurt user growth, which is expected to be weak in the three months ended June 30.But... In the run-up to Snap’s second quarter earnings due Aug. 7, several Wall Street analysts...

Finalists in the online video show 'Produce 101' on an episode in June. Photo by AP

Tencent and Rivals Learn How to Charge for Online Video

By Juro Osawa · Jul 23, 2018 10:01am PDT

When Wang Bowen fell in love with an “American Idol”–style reality show on a Chinese video site, he wanted to do everything to support his favorite contestant, a young woman with short hair and big round glasses. Paying subscribers of the site, owned by internet giant Tencent, could cast far more votes for contestants than... When Wang Bowen fell in love with an “American Idol”–style reality show on a...

YouTube CEO Susan Wojcicki at the announcement of YouTube TV last year. Photo by Bloomberg.

YouTube TV Shows Tough Economics of Skinny Bundles

By Jessica Toonkel and Tom Dotan · Jul 23, 2018 7:01am PDT · 10 comments

YouTube CEO Susan Wojcicki at the announcement of YouTube TV last year. Photo by Bloomberg.

YouTube TV Shows Tough Economics of Skinny Bundles

By Jessica Toonkel and Tom Dotan · Jul 23, 2018 7:01am PDT · 10 comments

The transition of TV viewers from traditional cable to streaming alternatives is underway. But media mergers could raise costs for the new services, making it tougher for them to turn a profit.As hundreds of thousands of people continue to drop cable and satellite TV every quarter, some are signing up for cheaper streaming versions introduced in... The transition of TV viewers from traditional cable to streaming alternatives is underway. But...

What No One Is Saying About Facebook

By Jessica E. Lessin · Jul 21, 2018 12:40pm PDT · 4 comments

As for the imbroglio over Facebook’s clumsy content moderation strategy—and even clumsier rationalization of it—I spent the last few days trying to find some coherent argument for how Facebook should police its platform and draw the line between what it should and shouldn’t allow. This stuff is tough. So tough. If you... As for the imbroglio over Facebook’s clumsy content moderation strategy—and even...

The Information’s 411 — Slowed Boat to China

By Tom Dotan · Jul 20, 2018 2:37pm PDT

Priya talks about the incremental movements toward an antitrust case against Amazon. Also we discuss why Walmart is thinking about building a competitor to Amazon Prime Video. Matt Pressberg dives into the stalled negotiations between Hollywood and China over movie releases. Priya talks about the incremental movements toward an antitrust case against Amazon. Also we...

Mike Sullivan

Tech Isn’t Doing Enough to Address Mental Health

By Sunil Rajaraman · Jul 20, 2018 10:00am PDT · 12 comments

Admit it. You’ve done it. That social media post you put up. The Instagram post of you on vacation in Mykonos with your family. The LinkedIn entry stating how great your company is doing. The Facebook post donating to a cause you know little about. Social media has created a never-ending loop for many inside and outside the technology... Admit it. You’ve done it. That social media post you put up. The Instagram post of you on...

Bird CEO Travis VanderZanden

Bird CEO Passes on Uber, Takes Aim at Cars

By Cory Weinberg · Jul 20, 2018 7:00am PDT · 4 comments

Bird CEO Travis VanderZanden

Q&A

Bird CEO Passes on Uber, Takes Aim at Cars

By Cory Weinberg · Jul 20, 2018 7:00am PDT · 4 comments

Bird CEO Travis VanderZanden seemed to be making all the right moves recently. His launch of an electric scooter service last year kicked off a larger wave of investment in the sector and spawned clones, as he calls other scooter startups. He already has made a lot of money from Bird, selling shares in the company’s latest $300 million... Bird CEO Travis VanderZanden seemed to be making all the right moves recently. His launch of an...