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

Source: company filings

Amazon Supremacy? Think Again

By Priya Anand · Sep 27, 2017 7:02am PDT · 7 comments

With Amazon.com’s acquisition of Whole Foods, it might seem like there are few segments of the consumer economy that the e-commerce giant hasn’t conquered. But a look at sales data shows just how small Amazon is compared with the true retail giant, Walmart.Walmart’s annual net sales are more than triple those of Amazon,... With Amazon.com’s acquisition of Whole Foods, it might seem like there are few segments of...

The Information's editor in chief Jessica Lessin with Xiaomi CFO Shou Zi Chew. Photo by Derry Ainsworth

Xiaomi Grabbed the Long Tail in Quest for Revival

By Shai Oster, Juro Osawa and Yunan Zhang · Sep 26, 2017 8:02pm PDT

BEIJING—Chinese smartphone maker Xiaomi endured “two painful years” after low-cost rivals jumped into the phone market, eroding its market share, Xiaomi’s finance chief said in an interview on Tuesday. The downturn forced Xiaomi to rethink its online-only sales model and open brick-and-mortar stores.The prospect of high... BEIJING—Chinese smartphone maker Xiaomi endured “two painful years” after...

Airbnb-branded apartments are planned for the city of Kissimmee, Fla. Photo: Wikimedia Commons/Michael Rivera

Airbnb to Test Branded Apartments in Florida

By Cory Weinberg · Sep 26, 2017 11:56am PDT · 3 comments

Airbnb is developing a branded apartment complex in Florida, the company’s first such move to create Airbnb-oriented accommodations from the ground up, according to people familiar with the matter. The arrangement, expected to be announced soon, would test Airbnb’s relationships with apartment landlords and developers, who have been... Airbnb is developing a branded apartment complex in Florida, the company’s first such move...

James Murdoch. Art by Matt Vascellaro.

James Murdoch: We’re in a ‘Silly Land’ in the Video Business

By Jessica E. Lessin · Sep 26, 2017 7:01am PDT · 4 comments

James Murdoch. Art by Matt Vascellaro.

The Big Interview

James Murdoch: We’re in a ‘Silly Land’ in the Video Business

By Jessica E. Lessin · Sep 26, 2017 7:01am PDT · 4 comments

James Murdoch wants you to know that he is in the media business. It’s an obvious statement from a man who sits atop a $50 billion media company with a global cable, broadcasting and film footprint. But, as tech companies invest billions in programming to lure customers to their businesses, the CEO of 21st Century Fox doesn’t... James Murdoch wants you to know that he is in the media business. It’s an obvious statement...

Google Cloud chief Diane Greene. Photo by Bloomberg.

Google Cloud Taps Former Dell Executive as New Sales Chief

By Kevin McLaughlin · Sep 25, 2017 12:59pm PDT · 1 comment

Google Cloud, as part of its longstanding efforts to sign up Fortune 500 companies, is bringing in a new sales chief with experience selling to large corporate customers. Paul-Henri Ferrand, a veteran of Dell who joined Google in 2014 as vice president of U.S. sales and operations, was appointed president of Google Cloud last month, according to... Google Cloud, as part of its longstanding efforts to sign up Fortune 500 companies, is bringing...

Symphony CEO David Gurle. Photo by Bloomberg.

Goldman-Backed Symphony to Raise $100M to Expand Beyond Banking

By Serena Saitto · Sep 25, 2017 10:20am PDT

Symphony Communication Services, the bank-backed messaging startup taking on Bloomberg LP in a key part of its business, is in talks to raise at least $100 million from new investors. The company plans to use the money to finance an expansion into health care, government, insurance and accounting, according to CEO and founder David Gurle. In an... Symphony Communication Services, the bank-backed messaging startup taking on Bloomberg LP in a...

SoftBank CEO Masayoshi Son. Photo by Bloomberg.

SoftBank Founder Builds an Empire on Debt and Charm

By Juro Osawa · Sep 25, 2017 7:00am PDT · 2 comments

Last summer, OneWeb founder Greg Wyler flew to Tokyo to visit Japan’s richest man, SoftBank CEO Masayoshi Son. Mr. Wyler, whose startup wants to beam the internet from satellites in space, wasn’t desperate for funds. But his investors arranged the meeting anyway.What followed over the next eight-and-a-half hours was classic Masayoshi... Last summer, OneWeb founder Greg Wyler flew to Tokyo to visit Japan’s richest man, SoftBank...

The Information You Missed This Week

By The Information Staff · Sep 23, 2017 8:00am PDT

The Weekly Digest

The Information You Missed This Week

By The Information Staff · Sep 23, 2017 8:00am PDT

Good morning!We found out this week that the biggest difference between Russia and Facebook is that Russia managed to get its bots to work. Good morning!We found out this week that the biggest difference between Russia and Facebook is...

The Information’s 411 — Facebook Goes to Washington

By Tom Dotan · Sep 22, 2017 2:05pm PDT · 1 comment

Cory phones in from the East coast to talk about how regulators are preparing for the effect autonomous cars have on city streets. And why D.C. has turned against Facebook and Google. Cory phones in from the East coast to talk about how regulators are preparing for the effect...

Art by Matt Vascellaro

Six Lessons for Amazon’s Next HQ

By Allison Arieff · Sep 22, 2017 10:01am PDT · 2 comments

Amazon announced in September its plans to open a second U.S. campus, and set every city that aspires to be the next Silicon Valley into a complete frenzy.But cities that are in the running should study both Seattle and Silicon Valley for a look at what to do—and what not to do—when a company comes calling. And Amazon, which can go... Amazon announced in September its plans to open a second U.S. campus, and set every city that...

The Capitol Building in Washington, D.C. Photo by Flickr/Karen Neoh.

For Tech Firms, Winter Is Here

By Jessica E. Lessin · Sep 22, 2017 7:01am PDT

In and around Silicon Valley these days, I am often asked the same question: Do tech companies realize the regulatory heat coming for them?The answer is yes, of course. The tech firms have been preparing for this scrutiny for years. (And true to stereotypes, one Silicon Valley insider referred to it as “Winter is coming. In and around Silicon Valley these days, I am often asked the same question: Do tech companies...

Serena Saitto talking with Michael Katz, AJ Murphy and David Ludwig at the Future of Finance event in New York. Photo by Gabriela Bhaskar.

What’s Next for IPOs

By The Information Staff · Sep 21, 2017 11:28am PDT · 1 comment

Serena Saitto talking with Michael Katz, AJ Murphy and David Ludwig at the Future of Finance event in New York. Photo by Gabriela Bhaskar.

The Future of Finance

What’s Next for IPOs

By The Information Staff · Sep 21, 2017 11:28am PDT · 1 comment

Despite the disappointing performance of a few high-profile tech IPOs this year, overall interest in new offerings remains healthy, said bankers at a panel hosted last week by The Information. High valuations and investor activism might damp interest in going public, however. Watch a video of the conversation with Michal Katz of RBC Capital,... Despite the disappointing performance of a few high-profile tech IPOs this year, overall interest...

The Information's Editor-In-Chief Jessica Lessin talking with Sean Neville and Andy Bromberg. Photo by Gabriela Bhaskar.

The Future of Finance

Sorting Through Cryptocurrency’s ‘Vaporware’

By The Information Staff · Sep 21, 2017 11:27am PDT · 1 comment

The number of initial coin offerings is poised to shrink in the coming months as investors become more savvy at distinguishing between legitimate tokens and those that aren’t backed by substantive products, said panelists at The Information’s “Future of Finance” event in New York last week. Check out a video of The... The number of initial coin offerings is poised to shrink in the coming months as investors become...

Bradley Tusk with The Information's editor in chief Jessica Lessin. Photo by Gabriela Bhaskar.

The Future of Finance

A Conversation With Uber Investor Bradley Tusk

By The Information Staff · Sep 21, 2017 11:26am PDT

Uber “isn’t fixed,” venture capitalist and early Uber investor Bradley Tusk said at The Information’s “Future of Finance” event in New York last week. “But I feel a little more comfortable that we’re on the right track.” Watch a video of Mr. Tusk and The Information Editor-in-Chief Jessica... Uber “isn’t fixed,” venture capitalist and early Uber investor Bradley Tusk...

The SEC's new chair Jay Clayton speaking at a congressional hearing in June. Photo by Bloomberg.

SEC Relaxing Private Tech Disclosure Rules

By Alfred Lee · Sep 21, 2017 7:02am PDT · 2 comments

The Securities and Exchange Commission is starting to relax financial disclosure requirements for private companies, a sign that the SEC’s new leadership may pull back on plans by former chair Mary Jo White to tighten regulations for Silicon Valley.Last week an SEC advisory committee recommended easing rules that require private companies... The Securities and Exchange Commission is starting to relax financial disclosure requirements for...

Ohio Senator Rob Portman. Photo by AP.

Facebook, Alphabet Find Few Friends in Washington

By Cory Weinberg · Sep 20, 2017 11:46am PDT · 2 comments

Ohio Senator Rob Portman. Photo by AP.

Facebook, Alphabet Find Few Friends in Washington

By Cory Weinberg · Sep 20, 2017 11:46am PDT · 2 comments

It’s getting lonelier in Washington, D.C., for Facebook and Alphabet. Lobbyists, lawyers, investors and others who straddle tech and political worlds point to an under-appreciated dynamic heightening political pressure for Facebook and Alphabet in recent weeks: The internet companies’ tech and media brethren are looking to twist the... It’s getting lonelier in Washington, D.C., for Facebook and Alphabet. Lobbyists, lawyers,...

AWS CEO Andy Jassy at an AWS conference in San Francisco in April. Photo by Bloomberg.

AWS’ New Cybersecurity Could Help Bank Push

By Kevin McLaughlin · Sep 20, 2017 7:02am PDT

Amazon Web Services is developing a new security service that protects data and applications running either on its public cloud or in customers’ own data centers, according to three people with knowledge of the service. It is aimed at patching a gap in security for companies, like banks, that move data back and forth between AWS and their... Amazon Web Services is developing a new security service that protects data and applications...

An Amazon warehouse in Hyderabad, India. Photo by Bloomberg.

Amazon Takes On Alibaba in India Payments Market

By Priya Anand · Sep 19, 2017 1:33pm PDT

Amazon has made inroads in India’s e-commerce market, taking share from rivals like Flipkart and Snapdeal. But future growth relies on Amazon succeeding in the highly competitive digital payments business—where it faces competition from the likes of Alibaba, SoftBank and even Google. The company in the last year ramped up Amazon Pay... Amazon has made inroads in India’s e-commerce market, taking share from rivals like...

Snap CEO Evan Spiegel. Photo by Bloomberg.

Advertisers Fret Snap’s Ad Products Looking ‘Stale’

By Tom Dotan · Sep 19, 2017 7:01am PDT · 3 comments

Snapchat last week introduced cartoon-like avatars, known as 3D bitmoji, a natural for sponsorship opportunities. Before Snap acquired the maker of bitmoji last year, the avatars appeared next to famous lines from movies like "The Terminator" and depicted scenes from "Game of Thrones."But advertisers shouldn’t get their... Snapchat last week introduced cartoon-like avatars, known as 3D bitmoji, a natural for...

Officials in big U.S. cities are starting to plan for the arrival of autonomous vehicles on crowded streets. Above, San Francisco's Castro Street. Photo: Bloomberg

Driverless Cars Intensify Fight Over Curb Space

By Cory Weinberg · Sep 18, 2017 12:29pm PDT · 2 comments

Officials in big U.S. cities are starting to plan for the arrival of autonomous vehicles on crowded streets. Above, San Francisco's Castro Street. Photo: Bloomberg

Driverless Cars Intensify Fight Over Curb Space

By Cory Weinberg · Sep 18, 2017 12:29pm PDT · 2 comments

Officials in major U.S. cities are looking for a way to carve out some control over the development of self-driving vehicles, by regulating the curb space where fleets of autonomous cars are likely to drop off and pick up passengers and packages.Curbs already have become conflict zones in cities as more kinds of vehicles—from Ubers to... Officials in major U.S. cities are looking for a way to carve out some control over the...