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

Mobileye CEO Amnon Shashua speaks at CES on Jan. 8. Photo: Bloomberg

What We Learned About Autonomous Cars at CES

By Amir Efrati · Jan 16, 2018 7:00am PST · 4 comments

LAS VEGAS—The hype machine known as the Consumer Electronics Show hummed a little softer this year for the auto sector, with fewer eye-popping promises. Two leading suppliers of autonomous technology for cars, Nvidia and Intel’s Mobileye, each made at least one announcement that some of their customers viewed as wishful thinking. The... LAS VEGAS—The hype machine known as the Consumer Electronics Show hummed a little softer...

Art by Sam Lessin

Modest Proposals

The Future of Hybrid Centralized-Decentralized Apps

By Sam Lessin · Jan 15, 2018 7:01am PST · 11 comments

Early last week, it was reported that the messaging app Telegram is working on raising capital for an audacious blockchain-based ecosystem of services and a network token called TON. Some skeptics have mockingly called this the largest $1.2 billion seed round in history. Others claim that it is a more aggressive version of Kik’s Kin... Early last week, it was reported that the messaging app Telegram is working on raising capital...

The Weekly Digest

The Information You Missed This Week

By The Information Staff · Jan 13, 2018 8:00am PST

Good Morning!Mark Zuckerberg is overhauling News Feed to emphasize more personal interactions. Now you’ll see more posts from your Russian friends, commenting on your Russian family. Good Morning!Mark Zuckerberg is overhauling News Feed to emphasize more personal interactions....

The Information’s 411 — CE Mess

By Tom Dotan · Jan 12, 2018 1:18pm PST

The Information’s 411 — CE Mess

By Tom Dotan · Jan 12, 2018 1:18pm PST

Amir and Aaron check in from CES. Jessica talks about Facebook's revamp of News Feed and why IPOs are less important in tech then they used to be. Juro explains why the deal between AT&T and Huawei fell apart. Amir and Aaron check in from CES. Jessica talks about Facebook's revamp of News Feed and why...

Dropbox CEO Drew Houston. Photo by Bloomberg.

Why We Should Ignore Tech IPOs

By Jessica E. Lessin · Jan 12, 2018 7:01am PST · 6 comments

Another January, another wave of predictions that this will be the year the tech IPO floodgates open. Dropbox kicked off the latest cycle, filing paperwork confidentially with the Securities and Exchange Commission last year, I am told. The news held until Thursday when Bloomberg reported the company had filed. Another January, another wave of predictions that this will be the year the tech IPO floodgates...

Uber's headquarters. Photo by AP

The Numbers Uber Shows Investors

By Amir Efrati · Jan 11, 2018 11:29am PST · 5 comments

If you're curious about the details of Uber's finances, check out the table below.It shows Uber’s financial statements for two quarters of 2016 and 2017, including revenue and the ride-hailing giant’s three main categories of costs. One is operating expenses, including marketing to attract riders and drivers. Another is... If you're curious about the details of Uber's finances, check out the table below.It...

Art by Mike Sullivan

Drama Over Hulu’s Fate Nearing Final Season

By Tom Dotan · Jan 11, 2018 10:14am PST · 1 comment

Of all the epic meandering dramas to come out of the television industry in recent years, Hulu’s struggle to define itself could rank among the best. Finally, though, we may be nearing an endgame—with implications for rivals that range from Netflix to Apple.Assuming Disney consummates its proposed purchase of 21st Century Fox, it... Of all the epic meandering dramas to come out of the television industry in recent years,...

Uber CEO Dara Khosrowshahi. Photo by Bloomberg. Charts by Mike Sullivan.

How Uber Can Get to Break Even

By Amir Efrati · Jan 11, 2018 7:00am PST · 5 comments

Uber CEO Dara Khosrowshahi. Photo by Bloomberg. Charts by Mike Sullivan.

How Uber Can Get to Break Even

By Amir Efrati · Jan 11, 2018 7:00am PST · 5 comments

Uber CEO Dara Khosrowshahi has told Uber executives he would like the company to nearly break even by the end of this year. By next year, when he has said Uber may go public, he wants the company to be profitable. Those aspirations will be difficult to achieve. Uber likely lost at least $3 billion in 2017, based on its results for the first... Uber CEO Dara Khosrowshahi has told Uber executives he would like the company to nearly break...

Francis Davidson and Lucas Pellan, cofounders of Sonder. Photo by Sonder.

Airbnb Fuels Boutique Rental Startups, but Regulatory Risks Loom

By Cory Weinberg · Jan 10, 2018 10:38am PST · 1 comment

A new breed of vacation rental startup offering upscale apartments to tourists is attracting interest from venture capital firms. But some investors are staying away, worried that tight regulations in some of North America’s hottest real estate markets will limit the startups’ growth. Two early entrants in the market, Sonder and... A new breed of vacation rental startup offering upscale apartments to tourists is attracting...

A Voyage self-driving car. Photo by Voyage.

When Self-Driving Car Startups Go Private

By Amir Efrati · Jan 10, 2018 7:01am PST

Every weekday at 4 p.m., retirees Irene and Daniel Grim use an app to summon a self-driving car. Operated by the startup Voyage, the car takes them from their San Jose home to a gym a mile and a half away, all inside in a private, gated community.Voyage has an exclusive deal to operate its “robotaxi” prototypes within the San Jose... Every weekday at 4 p.m., retirees Irene and Daniel Grim use an app to summon a self-driving car....

Photo by Bloomberg

China’s Didi Misses December Ride Target, Declares ‘War of the Century’

By Yunan Zhang · Jan 9, 2018 11:02am PST · 3 comments

Didi Chuxing missed its target for the number of daily rides taken in December, according to internal data seen by The Information, sparking concerns about growth for the world’s biggest ride-hailing company.The shortfall—which could reflect new local government rules on ride-hailing and competition from bike-rental... Didi Chuxing missed its target for the number of daily rides taken in December, according to...

People visit Huawei's stand during an exhibition in Shanghai in late November. Photo by AP

AT&T Deal Collapse Forces Huawei to Rethink Global Plans

By Juro Osawa · Jan 9, 2018 8:00am PST · 6 comments

People visit Huawei's stand during an exhibition in Shanghai in late November. Photo by AP

AT&T Deal Collapse Forces Huawei to Rethink Global Plans

By Juro Osawa · Jan 9, 2018 8:00am PST · 6 comments

The abrupt demise of Huawei’s deal with AT&T is setting off a chain reaction within the Chinese tech giant as it realizes that this may mark the end of its American dream.The failure of Huawei’s first-ever smartphone launch with a major U.S. carrier, after U.S. lawmakers demanded an investigation of the partnership, will force... The abrupt demise of Huawei’s deal with AT&T is setting off a chain reaction within the...

AngelList founder Naval Ravikant. Photo: Flickr/TechCrunch

AngelList to Launch $35 Million Fund to Groom VC Investors

By Serena Saitto · Jan 9, 2018 7:00am PST · 8 comments

Naval Ravikant shook up early-stage investing by launching AngelList. Now, working with Boston-based venture capital firm Accomplice, Mr. Ravikant has raised a $35 million fund that will groom tech investors and increase opportunities to invest in very early-stage tech startups.Mr. Ravikant personally invested in the new fund, named Spearhead,... Naval Ravikant shook up early-stage investing by launching AngelList. Now, working with...

Google's pavilion at CES this week. Photo by AP

Apple’s Smart Home Efforts Clouded by Amazon, Google

By Aaron Tilley · Jan 8, 2018 7:01am PST · 5 comments

About three years ago, Apple had big ambitions for HomeKit, the company’s software for controlling lights, locks, and other appliances with iPhones or iPads. The company even promised to showcase HomeKit-certified gadgets in every Apple store, according to one third-party product developer. The display area would be built to resemble a... About three years ago, Apple had big ambitions for HomeKit, the company’s software for...

The Weekly Digest

The Information You Missed This Week

By The Information Staff · Jan 6, 2018 8:00am PST

Good Morning!So Travis Kalanick is finally a real billionaire, thanks to his sale of stock in Uber. Donald Trump is probably wondering what that feels like. Good Morning!So Travis Kalanick is finally a real billionaire, thanks to his sale of stock in...

The Information’s 411 — It Gets the Red Out

By Tom Dotan · Jan 5, 2018 1:11pm PST

The Information’s 411 — It Gets the Red Out

By Tom Dotan · Jan 5, 2018 1:11pm PST

In the first podcast of the new year, Kevin talks about how Amazon and Salesforce have been quietly making moves to get off Oracle. Sarah Kuranda makes her podcast debut along with Aaron Tilley to talk about the serious security flaw in Intel's chips that has affected hardware devices—and whether this reaches all the way to... In the first podcast of the new year, Kevin talks about how Amazon and Salesforce have been...

Nvidia CEO Jensen Huang. Photo: Flickr/NVIDIA Taiwan

With Tighter Licensing Rules, Nvidia Walks Fine Line

By Kevin McLaughlin · Jan 5, 2018 7:00am PST · 6 comments

Last week, Nvidia signaled it was going to start cracking down on customers who use consumer graphics chips for business-related projects to avoid higher licensing charges. The move rattled companies that have long used these chips for scientific research. But another Nvidia licensing change, which hasn’t been previously reported, could... Last week, Nvidia signaled it was going to start cracking down on customers who use consumer...

Carbon Black CEO Patrick Morley. Photo: Kyle Alspach for BostInno

Carbon Black Revives IPO Plans, Holds Talks With IBM, Microsoft

By Serena Saitto and Sarah Kuranda · Jan 4, 2018 11:03am PST

Cybersecurity software provider Carbon Black is looking to sell or go public.Carbon Black has revived its plans for an initial public offering—after initially filing in 2016—and aims to complete an IPO in the first half of this year, according to people familiar with the situation. But it also is open to selling and has held talks... Cybersecurity software provider Carbon Black is looking to sell or go public.Carbon Black has...

Limebike bikes on the street. Photo by Flickr/Kiewic

Big Test for VC-Fueled Bike-Share Startup LimeBike

By Cory Weinberg · Jan 4, 2018 7:01am PST · 3 comments

In the race to build a U.S. bike-share business, LimeBike is pedaling faster than anyone else. The one-year-old startup is trying to raise tens of millions of dollars in new capital, on top of $62 million already raised, with extravagant statements about how fast it can grow.One question is whether there is enough of a bike culture in the U.S.... In the race to build a U.S. bike-share business, LimeBike is pedaling faster than anyone else....

Snowflake CEO Bob Muglia. Photo by Flickr/MicrosoftPDC

Snowflake Computing Raised $270 Million at $1.5 Billion Valuation

By Serena Saitto and Kevin McLaughlin · Jan 3, 2018 5:29pm PST · 4 comments

Snowflake CEO Bob Muglia. Photo by Flickr/MicrosoftPDC

Snowflake Computing Raised $270 Million at $1.5 Billion Valuation

By Serena Saitto and Kevin McLaughlin · Jan 3, 2018 5:29pm PST · 4 comments

Snowflake Computing, a five-year-old cloud database startup, has raised a $270 million Series E round of funding at a $1.5 billion valuation from existing investors, including Iconiq Capital and Altimeter Capital, according to a person with knowledge of the matter.The new valuation appears to be a significant increase on the reported $500... Snowflake Computing, a five-year-old cloud database startup, has raised a $270 million Series E...