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

GoPro CEO Nick Woodman at an event last September, unveiling a new version of its Hero wearable action camera. Photo by Bloomberg.

GoPro’s Stock Rests on Potential Sale

By Alfred Lee · Apr 12, 2018 9:48am PDT

GoPro’s stock has hurtled downhill this year, not unlike one of the thrill-seeking mountain bikers who put on its wearable cameras before taking the plunge. Shares are down 36% in 2018, cutting its market capitalization to roughly $700 million. GoPro investors now have to hope the company will get acquired to see any lift in the price.In a... GoPro’s stock has hurtled downhill this year, not unlike one of the thrill-seeking mountain...

Cybereason CEO Lior Div. Photo by Bloomberg.

Fake Hire, Staff Departures Roil SoftBank-Backed Security Startup

By Sarah Kuranda · Apr 12, 2018 7:01am PDT

Cybereason, a Softbank-backed rising star in corporate cybersecurity, touts its ability to spot attacks on data networks. But one threat slipped past the roughly $1 billion startup’s defenses: an executive hired to run Cybereason’s human resources unit who the company says turned out to be a fraud.The incident was just the... Cybereason, a Softbank-backed rising star in corporate cybersecurity, touts its ability to spot...

Bytedance CEO Zhang Yiming. Photo by Bloomberg.

What China’s Online Media Crackdown Means for Toutiao’s Owner

By Juro Osawa and Yunan Zhang · Apr 11, 2018 2:37pm PDT · 3 comments

For foreign investors in China’s tech sector, Beijing’s crackdown on the country’s most valuable media startups is a reminder that the success of their bets could hinge on the whims of the Communist Party. On Tuesday, China’s media regulator ordered Bytedance, the $30 billion startup that operates the popular newsfeed app... For foreign investors in China’s tech sector, Beijing’s crackdown on the...

Supreme Court Justice Kennedy. Photo by Bloomberg.

Free Speech Lawsuits Pressure Tech Firms on Content Removal

By Matt Drange and Reed Albergotti · Apr 11, 2018 11:46am PDT · 9 comments

Supreme Court Justice Kennedy. Photo by Bloomberg.

Free Speech Lawsuits Pressure Tech Firms on Content Removal

By Matt Drange and Reed Albergotti · Apr 11, 2018 11:46am PDT · 9 comments

As Facebook CEO Mark Zuckerberg fielded questions from lawmakers Tuesday and Wednesday, questions about data privacy, political advertising and foreign governments influencing U.S. elections showcased bipartisan concerns that are likely to shape the upcoming discussions over regulating the tech industry.Senator Ted Cruz, however, used his... As Facebook CEO Mark Zuckerberg fielded questions from lawmakers Tuesday and Wednesday, questions...

Apple CEO Tim Cook. Photo by Bloomberg

With DOJ Encryption Fight Looming, Are Tech Companies on the Same Team?

By Jessica E. Lessin and Sarah Kuranda · Apr 11, 2018 7:01am PDT

With Mark Zuckerberg on Capitol Hill, all eyes are on what regulation might be foisted upon Facebook. A more immediate question is how Facebook’s weakened position might affect Silicon Valley’s negotiating power in D.C. The issue that is most pressing is encryption. The U.S. Department of Justice is set to renew its fight to require... With Mark Zuckerberg on Capitol Hill, all eyes are on what regulation might be foisted upon...

Facebook CEO Mark Zuckerberg testifying before Congress on Tuesday. Photo by Bloomberg.

Reporter’s Notebook

Zuckerberg Avoids Damage, Can’t Bridge Trust Gap

By Cory Weinberg · Apr 10, 2018 5:18pm PDT · 6 comments

One of the few tough, striking lines of questioning during Mark Zuckerberg’s Senate testimony Tuesday came from Sen. Lindsey Graham, who scrutinized Facebook’s competitive power. “You don’t think you have a monopoly?” he asked. “It doesn’t feel like that to me,” the Facebook CEO said, ticking off... One of the few tough, striking lines of questioning during Mark Zuckerberg’s Senate...

Art by Mike Sullivan

Lessons From Silicon Valley’s Latest Female VC Partners

By Serena Saitto · Apr 10, 2018 10:01am PDT · 3 comments

Eight of the biggest venture capital firms, including Benchmark Capital, Union Square Ventures and General Catalyst, named their first female partners in the past 16 months. Those hires helped slightly increase women’s representation in the upper ranks of venture capital, as The Information reported Monday.Today, we are profiling the new... Eight of the biggest venture capital firms, including Benchmark Capital, Union Square Ventures...

Facebook CEO Mark Zuckerberg arriving for a meeting with Sen. John Thune on Monday. Photo by Bloomberg.

The Lawmakers Who Will Dictate Facebook’s Regulatory Future

By Cory Weinberg · Apr 10, 2018 7:01am PDT

Facebook CEO Mark Zuckerberg arriving for a meeting with Sen. John Thune on Monday. Photo by Bloomberg.

The Lawmakers Who Will Dictate Facebook’s Regulatory Future

By Cory Weinberg · Apr 10, 2018 7:01am PDT

Mark Zuckerberg’s testimony in front of several dozen senators Tuesday is likely to produce confrontational sound bites from lawmakers of both parties. Whether fiery hearings will lead to legislative action is far less clear, though there are signs that Facebook’s CEO will contend with more hostility from Washington in the coming... Mark Zuckerberg’s testimony in front of several dozen senators Tuesday is likely to produce...

Art by Sam Lessin

Modest Proposals

Governing the Internet

By Sam Lessin · Apr 9, 2018 10:11am PDT · 7 comments

It has always been inevitable that regulation would come to the internet just as it has come to every major communications platform that preceded it. Once the Web became critical infrastructure and started down the path of consolidation to just a handful of large platforms, it was only a matter of time.What is less clear is exactly what the... It has always been inevitable that regulation would come to the internet just as it has come to...

Graphics by Mike Sullivan

Silicon Valley’s Most and Least Diverse Investors

By Serena Saitto · Apr 9, 2018 7:00am PDT · 8 comments

The proportion of women in decision-making positions at the most prominent venture capital firms inched up to nearly 15% last year from roughly 11% in 2016. Black representation rose marginally. That’s according to the results of a survey conducted by The Information and VC firm Social Capital, our third since 2015. The VC... The proportion of women in decision-making positions at the most prominent venture capital firms...

The Weekly Digest

The Information You Missed This Week

By The Information Staff · Apr 7, 2018 8:02am PDT

Good Morning!We learned this week that Facebook had been secretly deleting old messages that CEO Mark Zuckerberg sent people via the Messenger app. The move combines two of Facebook’s favorite pastimes—bad optics and ripping off Snapchat. Good Morning!We learned this week that Facebook had been secretly deleting old messages that CEO...

The Information’s 411 — The Future of Hollywood (Live From L.A.!)

By Tom Dotan · Apr 6, 2018 4:20pm PDT

The Information’s 411 — The Future of Hollywood (Live From L.A.!)

By Tom Dotan · Apr 6, 2018 4:20pm PDT

At the Pack Theater in Hollywood, we talked to journalist Richard Rushfield about his industry newsletter The Ankler and whether it is better or worse to work in Hollywood now than a few decades ago. We also spoke with Tony Yacenda and Dan Perrault, creators of Netflix’s “American Vandal,” about how they turned their love for... At the Pack Theater in Hollywood, we talked to journalist Richard Rushfield about his industry...

Facebook CEO Mark Zuckerberg. Photo by Bloomberg.

Silicon Valley’s Big PR Mistake

By Jessica E. Lessin · Apr 6, 2018 7:01am PDT · 13 comments

I planned to write my column this week on the Techlash, the escalating backlash against Big Tech that has wiped away tens of billions from major tech companies’ market caps in the past few days, is dragging Mark Zuckerberg before Congress and probably has Jeff Bezos a little peeved or confused. Then the Techlash turned tragically violent... I planned to write my column this week on the Techlash, the escalating backlash against Big Tech...

Art by Mike Sullivan

The Information’s Autonomous Vehicles Summit

By The Information Staff · Apr 5, 2018 12:21pm PDT

When will self-driving cars be able to safely navigate city streets? Join us for a half day of discussion and hear from leading experts in technology, business and policy surrounding autonomous vehicles. Date: Thursday, June 14, 2018 Time: 8:30 a.m. - 1:00 p.m. Location: Cowell Theater, Fort Mason Center, San Francisco The safety of... When will self-driving cars be able to safely navigate city streets? Join us for a half day of...

Crown Prince Mohammad bin Salman. Photo by AP

Inside Hollywood’s Embrace of Saudi Arabia

By Matt Pressberg · Apr 5, 2018 11:08am PDT · 5 comments

A top Saudi Arabian official, Crown Prince Mohammad bin Salman, has been meeting this week with Hollywood executives such as Fox chief Rupert Murdoch and Disney chairman Bob Iger to discuss ways to work together, including possible investments in slates of films. The talks could lead to a win-win deal: For Hollywood, the wealthy kingdom is both... A top Saudi Arabian official, Crown Prince Mohammad bin Salman, has been meeting this week with...

John Chambers. Photo by Bloomberg.

How John Chambers Looks at Deals

By Serena Saitto · Apr 5, 2018 7:01am PDT · 6 comments

John Chambers. Photo by Bloomberg.

Q&A

How John Chambers Looks at Deals

By Serena Saitto · Apr 5, 2018 7:01am PDT · 6 comments

When John Chambers ran Cisco Systems, acquisitions were one of his favorite ways to grow the company. By his own estimate, Cisco did 180 deals in his time there. But as he said in an interview with The Information this week, Cisco executives expected that one third would not succeed. It was a surprising admission for a former CEO, given how... When John Chambers ran Cisco Systems, acquisitions were one of his favorite ways to grow the...

Facebook Is Unwieldy by Design. It Needs Independent Oversight

By David Kirkpatrick · Apr 4, 2018 10:02am PDT · 26 comments

Facebook CEO Mark Zuckerberg this week made a historic concession about how his service should be governed. In an interview with Vox’s Ezra Klein, he asked, “How can you set up a more democratic or community-oriented process that reflects the values of people around the world?” Mr. Zuckerberg went further, saying Facebook users... Facebook CEO Mark Zuckerberg this week made a historic concession about how his service should be...

Photo: AP

Uber, Lyft Face Growth Ceiling

By Amir Efrati · Apr 4, 2018 7:02am PDT · 4 comments

Several executives and key investors of Uber and Lyft estimate that annual revenue the companies generate in the U.S. from their core ride-hailing business will at most grow sixfold in the coming years before leveling off. That’s a much slower growth trajectory than what they were predicting a year or two ago, and it could translate into... Several executives and key investors of Uber and Lyft estimate that annual revenue the companies...

Huawei CEO Richard Yu. Photo: Bloomberg

Huawei’s Advances in Chips, Patents Threaten Former Ally Qualcomm

By Juro Osawa and Aaron Tilley · Apr 3, 2018 10:00am PDT · 7 comments

Qualcomm’s China Tech Day conference in January in Beijing represented a who’s who of China’s mobile industry. Top executives from the country’s biggest handset makers showed up. But one Chinese smartphone giant, Huawei, was notably absent.Huawei, the world’s third-largest smartphone maker behind Apple and Samsung,... Qualcomm’s China Tech Day conference in January in Beijing represented a who’s who of...

Facebook’s PR Chief Walks Political Tightrope

By Cory Weinberg · Apr 3, 2018 7:00am PDT · 3 comments

Facebook’s PR Chief Walks Political Tightrope

By Cory Weinberg · Apr 3, 2018 7:00am PDT · 3 comments

When Mark Zuckerberg takes employees’ questions during weekly all-hands meetings about Facebook’s role in society, he frequently turns to one of his longtime advisers, Elliot Schrage, to explain the social network’s thinking. Often, the company’s public policy and communications chief has been the one to outline... When Mark Zuckerberg takes employees’ questions during weekly all-hands meetings about...