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

Year Two: The Information Accelerator

By Jessica E. Lessin · Jun 4, 2018 9:03am PDT

A whole generation of news publications are dying. The conventional wisdom is that the internet wiped away print advertising and also commoditized information irrevocably.Yes, the Internet killed print ads, but I firmly believe we got the tech effect backwards. As the furor over fake news illustrates, tech—with all its commoditizing and... A whole generation of news publications are dying. The conventional wisdom is that the internet...

Snap stock details on display at the New York Stock Exchange last year. Photo by Bloomberg

Why Snap Should Tap Apple or Tencent for Cash

By Tom Dotan · Jun 4, 2018 7:01am PDT · 1 comment

Snap built a business on messages that disappear. But to keep the business going it needs to make sure its cash doesn’t. The company burned through $1.1 billion in the last five quarters, just on running its business (it spent more cash on acquisitions). At that rate, and with just $1.8 billion left, Snap will likely need to raise more... Snap built a business on messages that disappear. But to keep the business going it needs to make...

The Information’s 411 — Org Is the New Black

By Tom Dotan · Jun 1, 2018 1:22pm PDT

Priya grills Tom on the Netflix's org chart, how Netflix is managed and how it decentralizes decision-making across the company. Priya grills Tom on the Netflix's org chart, how Netflix is managed and how it decentralizes...

Citibike bicycles, which are operated by Motivate. Photo by Bloomberg.

Lyft Nears Acquisition of Motivate, U.S. Bike-Share Leader

By Amir Efrati and Cory Weinberg · Jun 1, 2018 8:48am PDT · 4 comments

Citibike bicycles, which are operated by Motivate. Photo by Bloomberg.

Lyft Nears Acquisition of Motivate, U.S. Bike-Share Leader

By Amir Efrati and Cory Weinberg · Jun 1, 2018 8:48am PDT · 4 comments

Lyft has agreed to buy Motivate, which runs some of the biggest U.S. bike-share programs, according to two people briefed about the deal. The acquisition, which is likely to be worth $250 million or more, will quickly insert Lyft into the small but fast-growing U.S. bike-sharing market.The two companies have agreed on the terms of the deal,... Lyft has agreed to buy Motivate, which runs some of the biggest U.S. bike-share programs,...

Art: Scotty Reifsynder

‘Pay to Pitch’ Makes a Comeback

By Alfred Lee · Jun 1, 2018 7:02am PDT · 4 comments

Keiretsu Forum doesn’t have the name recognition of Y Combinator or Andreessen Horowitz. But by some measures, the lesser-known organization has become the world’s most active startup investing group. Keiretsu said it invested in 207 startups last year, which is more than any angel investor group or venture capital firm, according to... Keiretsu Forum doesn’t have the name recognition of Y Combinator or Andreessen Horowitz....

Photo: AP

U.S. Chipmakers See Opening as Trade Friction Grows

By Aaron Tilley and Matt Drange · May 31, 2018 7:02am PDT

Earlier this month, Thomas Caulfield, the new CEO of chip manufacturer GlobalFoundries, went to Washington, D.C., to make his pitch that the U.S. federal government needs to do more to support domestic chip manufacturing.GlobalFoundries already has received funding and incentives of hundreds of millions of dollars from New York state for the... Earlier this month, Thomas Caulfield, the new CEO of chip manufacturer GlobalFoundries, went to...

DeRay McKesson. Photo by AP

BuzzFeed News Plans Interview Program for Facebook Watch

By Beejoli Shah · May 30, 2018 6:08pm PDT

BuzzFeed News plans to launch a new video interview show in the next two months, to stream on Facebook Watch. The weekly show is being described as a millennial-focused “Charlie Rose”–style program, with 20-minute episodes featuring an interview a week with a premiere celebrity, politician or other newsmaker.Plans for the... BuzzFeed News plans to launch a new video interview show in the next two months, to stream on...

Photos by Bloomberg, AP, Netflix. Source: The Information

How Netflix’s Management Structure Is Rewriting the Hollywood Script

By Tom Dotan · May 30, 2018 7:00am PDT

Photos by Bloomberg, AP, Netflix. Source: The Information

How Netflix’s Management Structure Is Rewriting the Hollywood Script

By Tom Dotan · May 30, 2018 7:00am PDT

Of all the factors that explain Netflix’s success in upending the media industry, the least understood may be just how little it operates like a traditional media company.At most studios and TV networks, decisions about whether to make a show or a movie can be made only by a handful of people atop the company, namely the president, a... Of all the factors that explain Netflix’s success in upending the media industry, the least...

Photo by Erin Beach

Subscriber Summit

Announcing the Autonomous Vehicle Summit Breakouts

By The Information Staff · May 29, 2018 1:29pm PDT

We're so excited to see everyone on June 14 in San Francisco at our Autonomous Vehicles Summit, focused on the latest developments in the field. An important part of each Summit is the breakout session: your opportunity to hear from the innovators in the industry and to ask them all your burning questions. If you're registered for... We're so excited to see everyone on June 14 in San Francisco at our Autonomous Vehicles...

From left to right: Yvette Martinez Rea, Jack Etienne, Justin Dellario, Rick Fox, Stratton Sclavos, Bobby Kotick, Ann Hand. Photos by Bloomberg, AP

The People With Power in Esports

By Matt Pressberg · May 29, 2018 11:01am PDT · 3 comments

Esports is having a big league moment. Professional video gaming is drawing investment dollars from some of the biggest names in traditional sports, like the National Basketball Association and baseball’s New York Yankees. Game developers are also increasingly focusing on the sports side of their business. Activision Blizzard, for example,... Esports is having a big league moment. Professional video gaming is drawing investment dollars...

Taxis at a taxi stand outside a train station in Tokyo. Photo: Bloomberg

Under Pressure, Uber Tries New Approach in Japan

By Juro Osawa · May 29, 2018 7:01am PDT · 1 comment

Last week, 20 Uber executives from around the world flew to Tokyo for a two-day, secret meeting on one of the company’s top priorities: How to work with taxis to crack Japan’s transportation market. Uber is hoping to make a major push in Japan, a country where it desperately wants to succeed after ceding China to Didi Chuxing and... Last week, 20 Uber executives from around the world flew to Tokyo for a two-day, secret meeting...

Art by Sam Lessin

Instagram Is the Real Virtual Reality, Not Oculus

By Sam Lessin · May 28, 2018 7:02am PDT · 6 comments

Art by Sam Lessin

Modest Proposals

Instagram Is the Real Virtual Reality, Not Oculus

By Sam Lessin · May 28, 2018 7:02am PDT · 6 comments

An odd thing occurred to me while watching Facebook’s F8 developer conference earlier this month. Amid announcements about new form factors for Oculus and a slew of updates on camera effects and lenses, I realized Facebook’s play for virtual reality is Instagram, not Oculus.Instagram over time has developed three of the major... An odd thing occurred to me while watching Facebook’s F8 developer conference earlier this...

The Information’s 411 — Oracles and Bad Omens

By Tom Dotan · May 25, 2018 5:40pm PDT

Kevin talks about how Oracle uses the specter of software audits to sell its cloud services to customers. Martin explains why Comcast's all-cash bid to buy Fox doesn't make sense. Kevin talks about how Oracle uses the specter of software audits to sell its cloud services to...

Photo: Bloomberg

Apple to Expand Secure Wireless Chip Beyond Payments

By Aaron Tilley and Amir Efrati · May 25, 2018 4:32pm PDT · 2 comments

Apple is making a significant change to a wireless chip in the iPhone that will allow users to more securely unlock doors enabled with the same technology, a person familiar with the matter said.The change to the near-field communication, or NFC, chip, which is expected to be announced next month, could pave the way for people to use iPhones for... Apple is making a significant change to a wireless chip in the iPhone that will allow users to...

A LimeBike shared electric scooter in San Francisco. Photo by Bloomberg

Subscriber Survey

Rein In Scooters, Say Subscribers

By Wendy Pollack and Mike Sullivan · May 25, 2018 10:30am PDT

Cities should impose caps on the number of electric scooters and e-bikes, a slim 54% majority of respondents to The Information’s monthly subscriber survey said. And nearly two-thirds of respondents agreed that e-scooters and e-bikes should only be able to park in designated parking areas, rather than anywhere on sidewalks.The sudden... Cities should impose caps on the number of electric scooters and e-bikes, a slim 54% majority of...

Airbnb CEO Brian Chesky. Photo by Bloomberg

Airbnb’s Rival Gaining Ground

By Cory Weinberg · May 25, 2018 7:02am PDT · 2 comments

Airbnb CEO Brian Chesky. Photo by Bloomberg

Airbnb’s Rival Gaining Ground

By Cory Weinberg · May 25, 2018 7:02am PDT · 2 comments

Airbnb only recently began to regard travel giant Booking Holdings as a threat. But internal projections from the two companies suggest that the two may be neck and neck in the race to rent rooms outside traditional hotels, The Information has learned.Airbnb internally projects it will sell 255 million to 265 million “room... Airbnb only recently began to regard travel giant Booking Holdings as a threat. But internal...

A Walmart store in New Jersey. Photo by Bloomberg

How Walmart Stacks Up Against Amazon

By Priya Anand · May 24, 2018 10:23am PDT · 5 comments

Walmart’s recent acquisition of a majority stake in Flipkart made one thing clear: The retail giant is serious about taking on Amazon worldwide.So how well matched are the two companies? On sheer scale of retail sales, Walmart is a much bigger company—$496 billion compared to Amazon’s $160 billion (excluding Amazon Web... Walmart’s recent acquisition of a majority stake in Flipkart made one thing clear: The...

Photo: Flickr/Allen

How to Win in Ride Hailing Without Any Money

By Shai Oster · May 24, 2018 7:00am PDT · 7 comments

Uber and its archrival Didi Chuxing lead the global ride-hailing business after burning billions of dollars to win market share. But the survival of a small Hong Kong upstart that has fended off the industry’s behemoths raises questions about their costly formula for success. Do you always need to deploy billions of dollars to recruit... Uber and its archrival Didi Chuxing lead the global ride-hailing business after burning billions...

Uber CEO Dara Khosrowshahi. Photo by Bloomberg.

Uber Cuts Losses, Plans New Tender Offer to Employees

By Amir Efrati · May 23, 2018 1:35pm PDT

Uber’s new CEO Dara Khosrowshahi is getting the company’s costs under control, the latest quarterly earnings show. But now he is about to embark on an investment binge aimed at shoring up Uber’s growth in ride-hailing and in newer businesses of food delivery and electric bikes.Uber reported a 40% drop in operating losses before... Uber’s new CEO Dara Khosrowshahi is getting the company’s costs under control, the...

Illustration by Danielle Davis

Facing CFO Shortage, Silicon Valley Tries Training

By Alfred Lee · May 23, 2018 7:01am PDT

Illustration by Danielle Davis

Facing CFO Shortage, Silicon Valley Tries Training

By Alfred Lee · May 23, 2018 7:01am PDT

When a group of a dozen or more private technology executives gather at Andreessen Horowitz’s offices today, they will be taking notes instead of pitching. The topic at hand: “How to be a great CFO.”The pilot program, aimed at CFOs of small companies and finance professionals aspiring to the CFO role, is designed to address the... When a group of a dozen or more private technology executives gather at Andreessen...