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

Amazon Web Services CEO Andy Jassy at a company event last year. Photo by Bloomberg

AWS Developing New Services Amid Open-Source Tensions

By Kevin McLaughlin · Nov 19, 2018 10:53am PST

Companies that manage open-source software have a message for cloud computing providers like Amazon: pay up, share your code or stop using our technology for free. The tension stems from the fact that cloud providers like Amazon Web Services are increasingly relying on open-source software—which is generally available to use free of... Companies that manage open-source software have a message for cloud computing providers like...

Art by Mike Sullivan

Snap’s Spiegel Flies High Above Wall Street Worries

By Tom Dotan · Nov 19, 2018 7:01am PST · 3 comments

Until a few months ago, Snap’s board meetings could be tense affairs. Benchmark partner Mitch Lasky, a Snap director until August, on occasion would challenge CEO Evan Spiegel about the company’s failure to meet Wall Street expectations for user growth and profits. Mr. Spiegel, who spends most board meetings looking at his phone and... Until a few months ago, Snap’s board meetings could be tense affairs. Benchmark partner...

The Trump Effect Is Infecting Tech News

By Jessica E. Lessin · Nov 18, 2018 11:18am PST · 1 comment

Since President Donald Trump was elected, Trump and tech news have been entwined. The role tech companies played in spreading misinformation during his campaign—and the ensuring regulatory hearings, Presidential tweets and the like—have joined tech companies to the political news cycle in unprecedented ways.So perhaps it is no... Since President Donald Trump was elected, Trump and tech news have been entwined. The role tech...

New Instagram Bug Raises Security Questions

By Sarah Kuranda and Reed Albergotti · Nov 16, 2018 3:32pm PST

New Instagram Bug Raises Security Questions

By Sarah Kuranda and Reed Albergotti · Nov 16, 2018 3:32pm PST

Instagram notified some users of a new security flaw that could have inadvertently exposed their passwords to public view, raising questions among security researchers about the effectiveness of Instagram’s security measures.The security flaw was tied, ironically, to a tool Instagram introduced in April to let users see how much of their... Instagram notified some users of a new security flaw that could have inadvertently exposed their...

The Information’s 411 — You’re No Bitcoin Jesus

By Tom Dotan · Nov 16, 2018 2:13pm PST

Jon talks about the drama with Bitcoin Cash and why the SEC is stepping up its investigations of the crypto sector. Aaron explains why Apple's margins on iPhones are going down even as its retail prices are going up. Jon talks about the drama with Bitcoin Cash and why the SEC is stepping up its investigations of...

Google Cloud CEO Diane Greene leaves the stage at a company event earlier this year. Photo by Bloomberg

Behind Google Cloud Chief’s Departure, Tensions With Execs

By Kevin McLaughlin and Jessica E. Lessin · Nov 16, 2018 1:39pm PST · 1 comment

Google's cloud computing chief Diane Greene is leaving the company amid growing tensions with other senior Google executives and after the company failed to make meaningful progress in one of its most important new businesses. Although Google has struggled to gain market share from Amazon in the cloud business, Ms. Greene’s departure... Google's cloud computing chief Diane Greene is leaving the company amid growing tensions...

AT&T communications CEO John Donovan. Photo by Bloomberg

AT&T Gears Up for Battle as Program Deals Come Up

By Jessica Toonkel · Nov 16, 2018 7:00am PST

AT&T, fresh off its acquisition of Time Warner, is gearing up for what could be a series of bloody battles with rival media giants, as it seeks to cut programming costs at its DirecTV satellite and streaming video division. The outcome could affect the shape of the TV industry for years to come.Several major media companies, including Fox,... AT&T, fresh off its acquisition of Time Warner, is gearing up for what could be a series of...

What Lyft’s Internal Numbers Show

By Amir Efrati · Nov 15, 2018 7:01am PST · 4 comments

What Lyft’s Internal Numbers Show

By Amir Efrati · Nov 15, 2018 7:01am PST · 4 comments

The next few weeks are shaping up to be pivotal for Lyft and how its IPO will be received. A detailed review of the company’s results for the three quarters to Sept. 30, based on confidential data made available to The Information, confirms a steady improvement in key expenses such as marketing and insurance. That is helping lift key... The next few weeks are shaping up to be pivotal for Lyft and how its IPO will be received. A...

Mike Sullivan

Crypto Newsletter

Bitcoin Cash Drama; App Store Dust-Up

By Jon Victor · Nov 14, 2018 12:05pm PST

Happy Wednesday. Bitcoin Cash, the cryptocurrency network that spun off from Bitcoin last year, plans to upgrade its software this week, but as is the norm in crypto, the proposal to improve Bitcoin Cash has been met with an equal and opposite reaction. Disagreements within the technical community about how many transactions miners should... Happy Wednesday. Bitcoin Cash, the cryptocurrency network that spun off from Bitcoin last year,...

Apple’s iPhone Prices Soar, but Not Profit Margins

By Aaron Tilley · Nov 14, 2018 7:01am PST · 2 comments

The enormous profits Apple generates from its iPhone business are legendary. Even though they account for less than 20% of all smartphone shipments, iPhones capture 87% of the entire market's profits, according to estimates from Canaccord Genuity.But what’s less understood is that as iPhones have increased in hardware complexity, the... The enormous profits Apple generates from its iPhone business are legendary. Even though they...

Vacation rental startups are snapping up apartment leases in places like Austin, Texas, above. Photo: Bloomberg

Biggest Vacation Home Operator Moving Into City Market

By Cory Weinberg · Nov 13, 2018 11:41am PST

Vacasa became the largest vacation rental management company in North America this year, operating homes in beach and mountain towns. Now, backed by more than $200 million from tech investors on the road to a potential public offering, Vacasa wants to move into the big city.Vacasa see an opportunity in managing tourist lodgings in city apartment... Vacasa became the largest vacation rental management company in North America this year,...

Sam Yam and Jack Conte. Photos by Patreon

Patreon’s $400 Million Promise: To Expand From Donations to Services

By Tom Dotan · Nov 13, 2018 7:02am PST · 2 comments

Sam Yam and Jack Conte. Photos by Patreon

Q&A

Patreon’s $400 Million Promise: To Expand From Donations to Services

By Tom Dotan · Nov 13, 2018 7:02am PST · 2 comments

Patreon has become known in the online media industry as the place to go if you want to send your favorite podcaster or musician a few dollars a month in exchange for extra content or access to exclusive chats. But the company has much bigger ambitions. It wants to offer creators a variety of services for creators, such as loans, so they can... Patreon has become known in the online media industry as the place to go if you want to send your...

Karen Zhang, Elaine Lou and Daisy Guo at The Information's Hong Kong Subscriber Summit earlier this week, with The Information's Shai Oster. Photo by Brent Pottinger

Hong Kong Subscriber Summit

For China’s Startups, New York Stock Markets Still Beat Hong Kong

By Wayne Ma · Nov 12, 2018 10:54am PST

Despite a number of high-profile Chinese startups listing in Hong Kong this year, the U.S. still provides a compelling market for initial public offerings because of its more sophisticated investors, several Chinese entrepreneurs and investors said Monday during an onstage interview at The Information’s Subscriber Summit in Hong Kong. ... Despite a number of high-profile Chinese startups listing in Hong Kong this year, the U.S. still...

UberEats' global marketing chief Nikki Neuberger with The Information's Juro Osawa. Photo by Brent Pottinger

Hong Kong Subscriber Summit

Uber Sees Strong Growth in Asia’s Food Delivery Market

By Juro Osawa and Wayne Ma · Nov 12, 2018 10:52am PST · 1 comment

Uber Eats’ food deliveries in the Asia-Pacific region have quadrupled in the past half-year, propelled by India, a company executive said. “We are growing fast everywhere. We are growing exponentially more quickly in India,” Nikki Neuburger, the global head of marketing for Uber’s food delivery business, said Monday in an... Uber Eats’ food deliveries in the Asia-Pacific region have quadrupled in the past...

Art by Sam Lessin

Modest Proposals

Is Uber Cash a Crypto Play?

By Sam Lessin · Nov 12, 2018 7:02am PST · 4 comments

The idea that social networking and messaging platforms could be used to launch and distribute new cryptocurrencies has been widely discussed in technology circles in the last few years. But what about ride-sharing companies—and in particular Uber?You could argue that Uber might be better positioned than the social networking players to... The idea that social networking and messaging platforms could be used to launch and distribute...

Former Instagram Chief Kevin Systrom on News

By Jessica E. Lessin · Nov 10, 2018 11:56am PST · 1 comment

Former Instagram Chief Kevin Systrom on News

By Jessica E. Lessin · Nov 10, 2018 11:56am PST · 1 comment

Thursday was one of my favorite days of the year. Twice a year, we gather media professionals to talk about, well, the future of media. It’s a program based on the bootcamp we run for the media companies we invest in—condensed to eight grueling hours of talking about subscription funnels, analytics packages and where this crazy... Thursday was one of my favorite days of the year. Twice a year, we gather media professionals to...

The Information’s 411 — Elon’s Driving Ambitions

By Tom Dotan · Nov 9, 2018 3:03pm PST

Amir talks about what Tesla's Autopilot can actually do, and whether the company's self-driving technology is well regarded in the industry. Amir talks about what Tesla's Autopilot can actually do, and whether the company's...

Cameras inside a Walmart store in Levittown, N.Y., where it is testing automation technologies. Photo by Jon Victor

Inside Walmart’s Secret ‘Kepler’ Store for Testing Tech

By Priya Anand, Kevin McLaughlin and Jon Victor · Nov 9, 2018 10:01am PST

At first glance, the small Walmart store in the New York suburb of Levittown seems unexceptional, but hovering above the aisles of water bottles, pet food and cookies are clues to an important technology experiment the giant retailer is conducting. A halo of cameras hangs above shelves throughout the store, the sheer number of... At first glance, the small Walmart store in the New York suburb of Levittown seems unexceptional,...

WarnerMedia CEO John Stankey. Photo by Bloomberg

Looking to Combat Disney, AT&T’s WarnerMedia Holds Content Talks With NBCU

By Jessica Toonkel · Nov 9, 2018 7:01am PST

AT&T’s WarnerMedia has approached Comcast’s NBCUniversal to discuss ways of working together, including about licensing films or TV shows for WarnerMedia’s planned new streaming service, according to two people familiar with the discussions. The approach signals that AT&T wants to strengthen its hand in competing with... AT&T’s WarnerMedia has approached Comcast’s NBCUniversal to discuss ways of...

Former Instagram CEO Kevin Systrom on Thursday. Photo by Erin Beach

Former Instagram Leader Systrom Talks About ‘Unhealthy’ Internet Incentives

By Sarah Kuranda · Nov 8, 2018 6:13pm PST · 8 comments

Former Instagram CEO Kevin Systrom on Thursday. Photo by Erin Beach

Former Instagram Leader Systrom Talks About ‘Unhealthy’ Internet Incentives

By Sarah Kuranda · Nov 8, 2018 6:13pm PST · 8 comments

For Kevin Systrom, the most challenging part of running Instagram was resisting the pressure to over-commercialize the social media service, he said on Thursday. “It’s the leaders that decide how to trade off profitability and mission, and that was the hardest part of my job,” said Mr. Systrom, who left Instagram as CEO in... For Kevin Systrom, the most challenging part of running Instagram was resisting the pressure to...