The Briefing by Martin Peers, Jessica Lessin and the team at The Information

Five times/week

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.

By providing your email, you agree to The Information’s Privacy Policy

Recent Editions

Mike Sullivan

Crypto Newsletter

EOS Creator Expands Into Social Media

By Jon Victor · Jun 5, 2019 1:12pm PDT

It should surprise no one that the winner of a charity auction for a lunch with Warren Buffett was a crypto entrepreneur who hopes to sell the investing legend on crypto’s merits. Justin Sun, founder of the blockchain Tron, will donate $4.6 million for the chance to discuss the potential uses he sees for Tron’s cryptocurrency.... It should surprise no one that the winner of a charity auction for a lunch with Warren Buffett...

David Marcus, the head of Facebook's cryptocurrency project. Photo by Bloomberg

Facebook Plans Outside Foundation to Govern Cryptocurrency

By Alex Heath and Jon Victor · Jun 5, 2019 11:57am PDT · 2 comments

Facebook plans to cede control of its forthcoming cryptocurrency to outside backers, a move meant to encourage trust in the digital payment system and reassure financial regulators, The Information has learned.In recent months, the social network has courted dozens of financial institutions and other tech companies to join an independent... Facebook plans to cede control of its forthcoming cryptocurrency to outside backers, a move meant...

Illustration by Mike Sullivan

Tech’s Frontline in Washington, D.C.

By Christopher Stern and Ashley Gold · Jun 5, 2019 7:00am PDT · 1 comment

The women and men charged with protecting Big Tech’s interests in Washington are under historic pressure as federal antitrust agencies and lawmakers laid the groundwork this week for broad federal reviews that will look into every facet of the industry’s business practices. All of this attention from lawmakers and regulators will... The women and men charged with protecting Big Tech’s interests in Washington are under...

Former Hearst executive Joanna Coles, on the right, talking to The Information Editor in Chief Jessica Lessin in an on-stage interview at The Information's WTF event on Tuesday. Photo by Karen Obrist

Former Hearst Exec Joanna Coles Plans Women’s Networking Platform

By Zoë Bernard · Jun 4, 2019 3:28pm PDT

Former Hearst executive Joanna Coles, on the right, talking to The Information Editor in Chief Jessica Lessin in an on-stage interview at The Information's WTF event on Tuesday. Photo by Karen Obrist

Former Hearst Exec Joanna Coles Plans Women’s Networking Platform

By Zoë Bernard · Jun 4, 2019 3:28pm PDT

Former Hearst chief content officer Joanna Coles plans to launch a subscription content platform focused on women’s networking opportunities, she said at The Information’s Women in Tech, Media and Finance conference Tuesday. The new venture, which hasn’t been previously reported, will focus on “connecting working women... Former Hearst chief content officer Joanna Coles plans to launch a subscription content platform...

Media mogul Shari Redstone. Photo by Karen Obrist.

Redstone: CBS, Viacom Need to Grow Even With a Merger

By Wendy Pollack · Jun 4, 2019 10:10am PDT

Viacom and CBS will need to get bigger even if the two do merge in order to better compete with tech giants, said media mogul Shari Redstone, who controls the two big entertainment companies.While the companies would be stronger together, ultimately they will need additional leverage in an increasingly competitive media landscape with or without... Viacom and CBS will need to get bigger even if the two do merge in order to better compete with...

Jessica Yellin, Judy McGrath, Bernadette Aulestia and The Information's Jessica Toonkel at the Women in Tech, Media and Finance conference on Tuesday. Photo by Karen Obrist

Traditional Media Companies Have ‘Gone Backwards’ on Gender Diversity

By Ashley Gold · Jun 4, 2019 8:06am PDT

Big media companies have taken a step backwards on gender diversity, particularly in the senior ranks, a panel of media executives said at The Information’s Women in Tech, Media and Finance conference Tuesday."There were more women at senior leadership levels 10-15 years ago,” said Bernadette Aulestia, the former president of... Big media companies have taken a step backwards on gender diversity, particularly in the senior...

Cockroach Labs co-founders (from left): Peter Mattis, Spencer Kimball, and Ben Darnell. Photo by Cockroach Labs.

Cockroach Labs Stands Up to Amazon’s Open Source Offensive

By Kevin McLaughlin · Jun 4, 2019 7:01am PDT · 1 comment

Amazon Web Services, the online retail giant’s cloud computing unit, has recently ruffled feathers among open source software companies by using free code to create paid services of its own. Now, open source database startup Cockroach Labs, founded by three former Googlers, is hitting back.The next version of CockroachDB, the free database... Amazon Web Services, the online retail giant’s cloud computing unit, has recently ruffled...

Makan Delrahim, assistant attorney general for the antitrust division of the U.S. Department of Justice, in April. Photo by Bloomberg

Antitrust Reviews May Force Big Tech to Rethink Conduct

By Nick Wingfield and Christopher Stern · Jun 3, 2019 3:50pm PDT

Makan Delrahim, assistant attorney general for the antitrust division of the U.S. Department of Justice, in April. Photo by Bloomberg

Antitrust Reviews May Force Big Tech to Rethink Conduct

By Nick Wingfield and Christopher Stern · Jun 3, 2019 3:50pm PDT

While the nation’s leading antitrust enforcers—the Federal Trade Commission and the U.S. Department of Justice—are signaling fresh interest in examining big tech companies, it could take years for any concrete legal action to come from their efforts. But that doesn’t mean it will be business as usual for Google, Facebook,... While the nation’s leading antitrust enforcers—the Federal Trade Commission and the...

Google policy chief Karan Bhatia, shown in 2007. Photo: Bloomberg

Key Google Roles Vacant as Regulatory Pressure Mounts

By Ashley Gold · Jun 3, 2019 3:26pm PDT

As regulators ramp up their antitrust scrutiny of Google, the tech giant’s global policy team is still adapting to a sweeping reorganization instituted by its new public policy chief, Karan Bhatia, a former longtime General Electric executive. Some key roles remain unfilled, most notably the top U.S. lobbyist job, which has been vacant... As regulators ramp up their antitrust scrutiny of Google, the tech giant’s global policy...

The People With Power at Endeavor

By Beejoli Shah · Jun 3, 2019 7:01am PDT

Ari Emanuel, one of the most high-profile Hollywood agents of the past 25 years, has long been the public face of Endeavor, the talent agency-turned-entertainment conglomerate. But as the company goes public, with a heavy debt load and operating losses, another figure will be in the spotlight: President Mark Shapiro. Mr. Shapiro, a former CEO of... Ari Emanuel, one of the most high-profile Hollywood agents of the past 25 years, has long been...

Why Facebook Can’t Have It Both Ways

By Jessica E. Lessin · Jun 1, 2019 1:38pm PDT · 1 comment

Facebook remained in Nancy Pelosi purgatory this week, as the Speaker of the House slammed Facebook for refusing to remove the doctored video that made her look drunk. Facebook held its ground.As you can imagine, the chattering types in Silicon Valley have been busy spewing their opinions. There are essentially two opposing viewpoints: (1) free... Facebook remained in Nancy Pelosi purgatory this week, as the Speaker of the House slammed...

The Information’s 411 — Claims on Autopilot

By Tom Dotan · May 31, 2019 2:15pm PDT

The Information’s 411 — Claims on Autopilot

By Tom Dotan · May 31, 2019 2:15pm PDT

Matt talks about his investigation of Tesla and the lack of data to support Elon's claims about Autopilot's safety record. Matt talks about his investigation of Tesla and the lack of data to support Elon's claims...

Why Google’s Hopes for Cheap Pixel May Falter

By Aaron Tilley · May 31, 2019 10:01am PDT · 1 comment

Earlier this month Google released two new budget phones—the Pixel 3A at $399 and a bigger Pixel 3A XL at $479—to rave reviews from the tech press. Even though the device has a lower-end chipset than its pricier sibling and a plastic case without water resistance, it offers a nice camera on par with premium phones. Google’s aim... Earlier this month Google released two new budget phones—the Pixel 3A at $399 and a bigger...

SoftBank CEO Masayoshi Son at a news conference in Tokyo earlier this month.

Uber IPO Points to SoftBank Vulnerability

By Alfred Lee · May 31, 2019 7:01am PDT

In the two years since the launch of SoftBank’s giant Vision Fund, it has begun producing substantial returns. But those gains have been eroded by a sharp drop in the value of its investment in Uber, showing how the fund's performance is dependent on the fortunes of a handful of big companies.SoftBank bet big on Uber, plowing $7.7... In the two years since the launch of SoftBank’s giant Vision Fund, it has begun producing...

Photo by Erin Beach.

Subscriber Summit

Announcing the 2019 Autonomous Vehicle Summit Breakouts

By The Information Staff · May 30, 2019 1:58pm PDT

We’re excited to see everyone on June 13 at our sold-out Autonomous Vehicles Summit. An important part of the Summit are our breakout sessions: a chance for you to hear straight from the biggest names in autonomous driving. At this year’s event, we’ll have three sets of 45-minute breakout sessions after the main stage sessions.... We’re excited to see everyone on June 13 at our sold-out Autonomous Vehicles Summit. An...

Tech, Media Layoffs Slow in April

By The Information Staff · May 30, 2019 1:18pm PDT

Tech, Media Layoffs Slow in April

By The Information Staff · May 30, 2019 1:18pm PDT

Technology and media companies announced 3,500 jobs cuts in April, a 59% drop from March that partly reflects the country’s robust employment picture, but nevertheless suggests the industries are still under pressure.Technology companies, including telecommunications, accounted for 3,105 of the announced layoffs while media companies said... Technology and media companies announced 3,500 jobs cuts in April, a 59% drop from March that...

Foam co-founders Ryan John King, Katya Zavyalova and Kristoffer Josefsson. Photo: Foam

Startup of the Week

This Crypto Company Takes Aim at GPS

By Jon Victor · May 30, 2019 10:01am PDT · 1 comment

Last year, in response to a wave of gamers using software to fake their locations, the company behind the location-based game Pokémon GO decided to lay down the law. For the first time, Niantic published a list of actions that could result in a ban—including faking a GPS location, a tactic some players had been using to gain an... Last year, in response to a wave of gamers using software to fake their locations, the company...

A WeWork co-working space. Photo by Bloomberg

WeWork Finds Keeping Big Customers Can Be Hard

By Cory Weinberg · May 30, 2019 7:01am PDT · 1 comment

WeWork wants to be the office-space provider for big as well as small companies. But it is finding that bigger clients come with bigger expectations.Take Amazon. The e-commerce giant is one of WeWork’s biggest customers, occupying dozens of WeWork spaces around the world. But earlier this year, when it prepared to expand in Nashville,... WeWork wants to be the office-space provider for big as well as small companies. But it is...

Mike Sullivan

Crypto Newsletter

Kik Stakes New Path to Fight Crypto Regulation

By Jon Victor · May 29, 2019 12:00pm PDT

Facebook’s stablecoin will reportedly launch early next year, and Facebook executives are already busy courting regulators in the various countries where they plan to launch the token. The process could take a while—selling officials on the idea of a single global currency issued by a private company probably won’t be easy.... Facebook’s stablecoin will reportedly launch early next year, and Facebook executives are...

Art by Danielle Davis

Studies Don’t Support Elon Musk’s Autopilot Safety Claims

By Matt Drange · May 29, 2019 7:01am PDT · 6 comments

Art by Danielle Davis

Studies Don’t Support Elon Musk’s Autopilot Safety Claims

By Matt Drange · May 29, 2019 7:01am PDT · 6 comments

For years, Tesla CEO Elon Musk has been making bold claims that the “Autopilot” feature that allows Tesla drivers to drive hands-free is safer than traditional driving. In 2016, for instance, he said that “half a million” people would be saved if Autopilot were more widely available. In 2017, Musk tweeted that the latest... For years, Tesla CEO Elon Musk has been making bold claims that the “Autopilot”...