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

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Recent Editions

A Walmart manager demonstrating how customers can pick up online orders. Photo by AP

Walmart and Target Take Page From Amazon’s Cloud Playbook

By Kevin McLaughlin · May 9, 2018 12:31pm PDT · 1 comment

Walmart and Target have decided that the best way to compete with Amazon in shopping is to follow its playbook in the cloud.Both companies are switching to cheap unbranded “white box” servers running open-source software for their data centers, instead of equipment made by firms like Dell or Hewlett Packard Enterprise, said a person... Walmart and Target have decided that the best way to compete with Amazon in shopping is to follow...

Photo by Silvergate Bank

Meet the San Diego Bank That Handles Most of the Cryptocurrency Industry

By Alfred Lee · May 9, 2018 7:01am PDT · 1 comment

Silvergate Bank of San Diego describes itself as a community bank, with clients that include a nearby chain of milkshake stores and a local architectural firm. But in the past year, Silvergate has taken on a new role: the go-to bank for the cryptocurrency industry.Most U.S. banks steer clear of companies involved with digital currencies, which... Silvergate Bank of San Diego describes itself as a community bank, with clients that include a...

How Media Startups Stack Up on Revenue Per Employee

By Tom Dotan and Mike Sullivan · May 8, 2018 11:32am PDT · 2 comments

If there’s one constant among the most prominent digital media startups, it’s that they all generate about the same amount of revenue on a per-employee basis—regardless of how big they are.That’s what emerged from a study The Information did of eight firms, ranging from BuzzFeed to Vox Media, Axios and Refinery29. The... If there’s one constant among the most prominent digital media startups, it’s that...

Art by Sam Lessin

Venmo Trust and The Blockchain

By Sam Lessin · May 8, 2018 7:02am PDT · 6 comments

Art by Sam Lessin

Modest Proposals

Venmo Trust and The Blockchain

By Sam Lessin · May 8, 2018 7:02am PDT · 6 comments

One of the ideas I am most proud of contributing to was “Trust” on Venmo. Part of Andrew Kortina and Iqram Magdon-Ismail’s original version of Venmo, the idea was to allow people who signed up for Venmo to “trust” (vs. friend or follow) other users. That gave the trusted person the ability to withdraw money from... One of the ideas I am most proud of contributing to was “Trust” on Venmo. Part of...

A shot from an ABC TV station in Tempe, Arizona, after an Uber self-driving car killed a pedestrian. Photo by AP.

Uber Finds Deadly Accident Likely Caused By Software Set to Ignore Objects On Road

By Amir Efrati · May 7, 2018 9:48am PDT · 6 comments

Uber has determined that the likely cause of a fatal collision involving one of its prototype self-driving cars in Arizona in March was a problem with the software that decides how the car should react to objects it detects, according to two people briefed about the matter.The car’s sensors detected the pedestrian, who was crossing... Uber has determined that the likely cause of a fatal collision involving one of its prototype...

Illustration by Danielle Davis

Microsoft’s Cortana Faces Uphill Battle Winning Over Developers

By Priya Anand · May 7, 2018 7:01am PDT

Until very recently, developers who wanted to add a skill to Microsoft’s digital assistant Cortana had to fill out a roughly 30-line form and paste it into an email to the Cortana team, with links to their privacy policies and terms and conditions. Then they had to wait for sometimes weeks to get feedback and final approval. Amazon’s... Until very recently, developers who wanted to add a skill to Microsoft’s digital assistant...

The Information’s 411 — Lyfted Expectations

By Tom Dotan · May 4, 2018 2:06pm PDT

On an all ride-hailing episode, Amir talks about Lyft's missed opportunities to win share from Uber. Reed discusses why neither Uber and Lyft monitor whether their drivers have dealt with recall notices. On an all ride-hailing episode, Amir talks about Lyft's missed opportunities to win share...

Art by Mike Sullivan

Facing Free Speech Challenges, Social Media Firms Say They Need More Time

By Matt Drange · May 4, 2018 12:06pm PDT · 1 comment

Art by Mike Sullivan

Facing Free Speech Challenges, Social Media Firms Say They Need More Time

By Matt Drange · May 4, 2018 12:06pm PDT · 1 comment

If the 2016 election taught social media platforms anything about their responsibility to prevent the spread of malicious disinformation, the companies still aren’t sure what, exactly, to do about it.At least that was the consensus at a panel discussion Thursday night at Stanford University, featuring high-profile policy and communications... If the 2016 election taught social media platforms anything about their responsibility to prevent...

The New York Stock Exchange on the day that Spotify went public. Photo by Bloomberg.

Why Uber and Airbnb Should Copy Spotify with a Direct Listing

By Serena Saitto · May 4, 2018 7:01am PDT · 1 comment

A month after debuting on the New York Stock Exchange by going public without selling new shares—an unprecedented direct listing—it is clear that Spotify’s experiment was a success. The Swedish music streaming company is trading 21% higher than where its stock traded in the private market immediately before its public listing.... A month after debuting on the New York Stock Exchange by going public without selling new...

Naveen Rao. Art by Mike Sullivan

The Big Interview

Intel’s AI Chief Says Chip Giant “Has to Shift”

By Aaron Tilley · May 3, 2018 10:02am PDT

Soon after Intel spent $400 million to buy Nervana, a startup building artificial intelligence hardware and software, Nervana CEO Naveen Rao had a run-in with his new colleagues. Executives of Intel’s data center group balked at the idea of selling Nervana’s specialized AI chip for servers, Mr. Rao said in an interview. Instead, the... Soon after Intel spent $400 million to buy Nervana, a startup building artificial intelligence...

Lyft founders John Zimmer and Logan Green. Photo by Bloomberg.

How Lyft’s Missteps Killed Its Chances of Overtaking Uber

By Amir Efrati · May 3, 2018 7:00am PDT · 2 comments

If there were ever a time when Lyft had a chance to catch up with Uber, it was last year. A constant barrage of negative publicity, including a #deleteUber social media movement, offered Lyft a gift in terms of picking up business.But while Lyft made some gains, it still finished the year with just 30% of the market, in terms of revenue, far... If there were ever a time when Lyft had a chance to catch up with Uber, it was last year. A...

Stephanie Erdman, who was injured when a Takata airbag blew up, testifies before Congress in 2014. Photo by the AP.

When Their Cars Get Recalled, Uber and Lyft Choose Not to Know

By Reed Albergotti · May 2, 2018 10:00am PDT · 1 comment

Stephanie Erdman, who was injured when a Takata airbag blew up, testifies before Congress in 2014. Photo by the AP.

When Their Cars Get Recalled, Uber and Lyft Choose Not to Know

By Reed Albergotti · May 2, 2018 10:00am PDT · 1 comment

Faulty Takata airbags have killed 22 people and are responsible for the largest recall in automotive history, affecting 37 million vehicles in the U.S. Some of those cars may be operated by Uber and Lyft drivers, but neither company knows the number or whether their drivers have responded to the recalls, The Information has learned.... Faulty Takata airbags have killed 22 people and are responsible for the largest recall in...

A man rides a Citibike in New York. Photo: AP

Facing Startup Competition, U.S. Bike-Share Leader Shops Itself

By Cory Weinberg and Amir Efrati · May 2, 2018 7:00am PDT

Motivate, which runs some of the biggest U.S. bike-share programs, is searching for a buyer or new capital to fend off smaller rivals, according to several people familiar with the matter. It has discussed a deal with Lyft, although an agreement likely isn’t close. The discussions come several months after Motivate failed to close a deal... Motivate, which runs some of the biggest U.S. bike-share programs, is searching for a buyer or...

Facebook CEO Mark Zuckerberg. Photo by Bloomberg

Interview: The Zuckerberg News Doctrine

By Jessica E. Lessin · May 1, 2018 7:01pm PDT · 1 comment

I’m coming to you after spending an hour with Mark Zuckerberg talking on the record about the news industry. My takeaway: Zuckerberg is trying to get serious about news and hatching a doctrine around it that may take Facebook in some new directions. As a little context, I invited Zuckerberg to join an annual event I organize, along with... I’m coming to you after spending an hour with Mark Zuckerberg talking on the record about...

A pedestrian in Shanghai walks past a poster for "Transformers: Age of Extinction" in 2014. Photo by AP.

China Credit Crackdown Hits Hollywood

By Matt Pressberg · May 1, 2018 10:00am PDT

A regulatory crackdown on aggressive borrowing by individuals and companies in China is squeezing firms doing business in Hollywood, including Dalian Wanda Group, owner of Legendary Entertainment and AMC Theaters, and LeEco. Then there is Huahua Media.Huahua helped Paramount’s “Transformers: Age of Extinction” make a... A regulatory crackdown on aggressive borrowing by individuals and companies in China is squeezing...

Amazon Employees Forfeit Stock Awards at Higher Rates

By Priya Anand and Mike Sullivan · May 1, 2018 7:00am PDT

Amazon Employees Forfeit Stock Awards at Higher Rates

By Priya Anand and Mike Sullivan · May 1, 2018 7:00am PDT

Amazon.com’s stock hit a record of $1,638 last week after the company reported that it doubled its profit in the first quarter, surpassing analysts’ expectations. But some employees who were granted stock awards as part of their compensation packages might not fully benefit from the run-up in value. The rate at which employees... Amazon.com’s stock hit a record of $1,638 last week after the company reported that it...

A Didi vehicle in Nanjing, China, left, and a Meituan food delivery courier in Wuxi, China. Photos: AP

Didi vs. Meituan: China’s Biggest Tech Battle Heats Up

By Juro Osawa and Yunan Zhang · Apr 30, 2018 10:01am PDT

The battle between two of China’s biggest tech companies is escalating. As Didi Chuxing and Meituan muscle into each other’s turf, some investors are starting to worry that the competition may become a costly distraction for both as they prepare to go public. Meituan, a $30 billion Beijing-based startup offering food delivery, travel... The battle between two of China’s biggest tech companies is escalating. As Didi Chuxing and...

An attendee at Mobile World Congress in 2016 tries on a pair of Recon's smart spectacles. Photo: Bloomberg

Inside Intel’s Failed Wearables Gambit

By Aaron Tilley · Apr 30, 2018 7:01am PDT · 2 comments

On the day Intel completed its $175 million purchase of smart-spectacle maker Recon Instruments in June 2015, Intel CEO Brian Krzanich flew to Recon’s Vancouver headquarters to welcome the 60-person company. For the next year, he showed close interest in the business, meeting frequently with Recon chief Dan Eisenhardt, even though Mr.... On the day Intel completed its $175 million purchase of smart-spectacle maker Recon Instruments...

The Information’s 411 — Fulfilled by Amazon

By Tom Dotan · Apr 27, 2018 12:53pm PDT

Priya talks about Amazon's quarterly earnings and her story on private equity firms looking to buy up Amazon sellers. Cory dives into the discussions between Uber and Lyft and cities over public transit. Priya talks about Amazon's quarterly earnings and her story on private equity firms looking...

Comcast CEO Brian Roberts. Photo by Bloomberg.

The Tech Company Comcast Should Buy Instead of Sky

By Jessica E. Lessin · Apr 27, 2018 7:01am PDT · 3 comments

Comcast CEO Brian Roberts. Photo by Bloomberg.

The Tech Company Comcast Should Buy Instead of Sky

By Jessica E. Lessin · Apr 27, 2018 7:01am PDT · 3 comments

Comcast’s Brian Roberts wants to plunk down $31 billion to acquire Sky, a European pay TV company previously promised to Disney via its pending acquisition of parts of Fox.There’s a lot standing in the way of the deal—specifically three Murdochs and Disney’s CEO Bob Iger (presumably). So the thing that crossed my mind... Comcast’s Brian Roberts wants to plunk down $31 billion to acquire Sky, a European pay TV...