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

WeChat founder Allen Zhang speaking last month at a conference in Guangzhou, China. Photo by Bloomberg.

At Tencent, Tensions Rise Over the Future of WeChat

By Juro Osawa · Feb 8, 2018 7:01am PST · 3 comments

WeChat had just turned seven. At a luxury hotel in southern China last month, the anniversary party raged for workers at one of the world’s most popular apps. There were lucky draws. Some employees performed a Chinese rap. Allen Zhang, WeChat’s creator, gave everyone a personally engraved iPhone X. But beneath the glitter and fun,... WeChat had just turned seven. At a luxury hotel in southern China last month, the anniversary...

Google's hardware chief Rick Osterloh at a product launch last October. Photo by Bloomberg.

Google May Step Into Gaming With ‘Yeti’ Streaming Service

By Kevin McLaughlin and Amir Efrati · Feb 7, 2018 7:01am PST · 2 comments

Google may be about to take its most serious steps to get into the videogame business. The company is developing a subscription-based game streaming service that could work either on Google’s Chromecast or possibly a Google-made console still being developed, according to people with knowledge of the project.The service, codenamed Yeti,... Google may be about to take its most serious steps to get into the videogame business. The...

Spotify CEO Daniel Ek. Photo by Bloomberg.

Spotify’s Q3 Revenue Points to Full Year Growth of 40%

By Alfred Lee · Feb 6, 2018 3:21pm PST

Spotify generated a billion euros ($1.2 billion) in revenue in the third quarter of 2017, according to two investors briefed on the numbers. That puts it on track for full year revenue of more than four billion euros, up about 40% from 2016. And it would continue a streak of fast growth as Spotify readies for one of the highest-valued tech... Spotify generated a billion euros ($1.2 billion) in revenue in the third quarter of 2017,...

*Numbers are estimates; Sources: SportsBusiness Journal, FanGraphs, Press releases

Why 2021-2022 Could Be a Watershed for TV Sports

By Matt Pressberg and Mike Sullivan · Feb 6, 2018 1:15pm PST · 2 comments

*Numbers are estimates; Sources: SportsBusiness Journal, FanGraphs, Press releases

Why 2021-2022 Could Be a Watershed for TV Sports

By Matt Pressberg and Mike Sullivan · Feb 6, 2018 1:15pm PST · 2 comments

America’s major sports leagues will be living large for the next three or four years, reaping the benefits of TV and radio deals that pay them more than $18 billion a year combined. But that may change in 2021 and 2022, when several of the biggest deals come up for renewal, including Major League Baseball’s TV contract and... America’s major sports leagues will be living large for the next three or four years,...

Photo by Erin Beach

Announcing the Summit Lunch Breakouts

By The Information Staff · Feb 6, 2018 12:40pm PST

We're so excited to see everyone on February 14th at our first Seattle Subscriber Summit, focused on developments in the cloud. An important part of each Summit are our breakout sessions: a chance for you to hear from the innovators in cloud and AI.If you're registered for the Summit, you'll receive an email from... We're so excited to see everyone on February 14th at our first Seattle Subscriber Summit,...

An AWS office in Herndon, Virginia. Photo by AP.

Why D.C. Needs Amazon and Amazon Needs D.C.

By Cory Weinberg and Priya Anand · Feb 6, 2018 7:01am PST · 1 comment

When Washington, D.C., engineer Kenny Shin was raising the Series A round for his real estate crowdfunding startup Fundrise in 2014, potential investors urged him and his cofounders to move the company to San Francisco rather than keep it in Washington. “They would say, ‘You just don’t have the talent here,’” Mr.... When Washington, D.C., engineer Kenny Shin was raising the Series A round for his real estate...

Art by Sam Lessin

Modest Proposals

Stable Coins, Oracles, Trust, and Identity

By Sam Lessin · Feb 5, 2018 10:00am PST · 4 comments

One of the biggest structural challenges for digital platforms, ranging from blockchains to social networks, is figuring out how to translate the real world into a language that digital systems can process. It is one thing to build a self-contained digital ecosystem for distributing information or encoding contracts and memory. It is quite... One of the biggest structural challenges for digital platforms, ranging from blockchains to...

Photo by Bloomberg

The Four Companies That Should Be on Cisco’s Shopping List

By Kevin McLaughlin and Sarah Kuranda · Feb 5, 2018 7:00am PST · 2 comments

Photo by Bloomberg

The Four Companies That Should Be on Cisco’s Shopping List

By Kevin McLaughlin and Sarah Kuranda · Feb 5, 2018 7:00am PST · 2 comments

Now that the new tax law is freeing up big tech firms to bring back tens of billions of dollars stored overseas, a spate of new tech acquisitions may be on the horizon. And one of the most aggressive buyers is likely to be Cisco Systems.At a recent meeting with reseller partners, CEO Chuck Robbins hinted that Cisco would use some of the $68... Now that the new tax law is freeing up big tech firms to bring back tens of billions of dollars...

The Weekly Digest

The Information You Missed This Week

By The Information Staff · Feb 3, 2018 8:01am PST

Good Morning!Facebook's stock tanked when Zuckerberg said people were spending less time on the app, but then went up after he spent the rest of the call explaining why that wasn't a problem. This is what Facebook means when it talks about Time Well Spent. Good Morning!Facebook's stock tanked when Zuckerberg said people were spending less time on...

The Information’s 411 — Jane’s (Tech) Addiction

By Tom Dotan · Feb 2, 2018 1:07pm PST · 2 comments

Jessica talks about the logic of comparing the tech industry to the tobacco companies. And Tom talks about why BuzzFeed News might raise money from an outside investor. Jessica talks about the logic of comparing the tech industry to the tobacco companies. And Tom...

Jobs@TheInformation

Join The Information as our Enterprise Sales Manager

By The Information Staff · Feb 2, 2018 12:26pm PST

The Information is a San Francisco-based subscription publication known for original, in-depth reporting about the technology industry. We’re the go-to daily read for the most important people in technology and business and are building a one-of-a kind community of subscribers. We have plenty of capital and big ambitions to grow our... The Information is a San Francisco-based subscription publication known for original, in-depth...

Salesforce chief Marc Benioff at Davos last month. Photo by Bloomberg.

Tobacco, Tech and Ulterior Motives

By Jessica E. Lessin · Feb 2, 2018 7:01am PST · 6 comments

Salesforce chief Marc Benioff at Davos last month. Photo by Bloomberg.

Tobacco, Tech and Ulterior Motives

By Jessica E. Lessin · Feb 2, 2018 7:01am PST · 6 comments

Last week, I was scrolling through Twitter when I was stopped by a headline. From snowy Davos, Salesforce CEO Marc Benioff was telling CNBC that Facebook should be regulated like a tobacco company.I wasn’t surprised by the analogy; I was surprised by who said it. I’ve been hearing that argument from the folks who run television news... Last week, I was scrolling through Twitter when I was stopped by a headline. From snowy Davos,...

BuzzFeed CEO Jonah Peretti. Art by Mike Sullivan

BuzzFeed’s News Headache

By Tom Dotan · Feb 1, 2018 6:21pm PST · 2 comments

Last summer, executives from NBCUniversal had a conversation with BuzzFeed about buying control of the media company, according to people familiar with the talks. At least some investors in BuzzFeed were keen for a deal to happen, so they could exit the high profile but unprofitable business.At the time, BuzzFeed was expecting to finish the year... Last summer, executives from NBCUniversal had a conversation with BuzzFeed about buying control...

Former Uber CEO Travis Kalanick, left, with Anthony Levandowski, in 2016. Photo: AP

Waymo Case Against Uber Hinges on View of Trade Secrets Law

By Amir Efrati · Feb 1, 2018 12:07pm PST · 2 comments

No matter the outcome of next week’s trial, Waymo has accomplished a lot from its lawsuit against Uber for allegedly stealing Waymo’s trade secrets related to self-driving cars. The suit has hurt Uber’s reputation and its effort to develop the vehicles.The trial itself, which will start Monday unless the parties suddenly... No matter the outcome of next week’s trial, Waymo has accomplished a lot from its lawsuit...

Tel Aviv.

As Amazon Expands in Israel, Contest for Talent Heats Up

By Sarah Kuranda · Feb 1, 2018 7:01am PST

When Israeli cybersecurity firm GuardiCore launched five years ago, its founders had little difficulty hiring people, thanks to their connections in the Israeli Defense Forces. But that changed when Amazon came to town and offered salaries to some employees of 25% to 50% more than GuardiCore was paying. GuardiCore has responded by raising... When Israeli cybersecurity firm GuardiCore launched five years ago, its founders had little...

Note: Share price is for preferred stock;
Sources: CoinMarketCap, Company filings, The Information reporting

Cryptocurrency Surge Raises Questions About Company Valuations

By Alfred Lee · Jan 31, 2018 10:50am PST · 1 comment

Note: Share price is for preferred stock;
Sources: CoinMarketCap, Company filings, The Information reporting

Cryptocurrency Surge Raises Questions About Company Valuations

By Alfred Lee · Jan 31, 2018 10:50am PST · 1 comment

Investors are finding yet another way to bet on the cryptocurrency boom: buying up stock in a well-known cryptocurrency company on private marketplaces.Investment funds and money managers for wealthy individuals have bid up shares of Ripple, the company behind the cryptocurrency XRP, to more than 10 times its previous price, valuing the private... Investors are finding yet another way to bet on the cryptocurrency boom: buying up stock in a...

Art by Matt Vascellaro

Startups to Watch

These Startups Aim to Disrupt Travel, Real Estate, Healthcare and Investing

By The Information Staff · Jan 31, 2018 7:02am PST · 5 comments

One company hopes to use cryptocurrency to finance journalism. Another is using artificial intelligence to help people snare the best hotel prices. A third is making an extremely low-powered microphone for portable voice-activated devices. All three are in our latest group of startups we think are worth watching. The nine firms are in a wide... One company hopes to use cryptocurrency to finance journalism. Another is using artificial...

A Snapchat user putting a filter on Edmonton Oilers left wing Jujhar Khaira during a game earlier this month. Photo by AP.

Snap’s Focus on Stories Should Disappear

By Tom Dotan · Jan 30, 2018 1:02pm PST

For all of Snap’s focus on being a broadcasting service for millennials who share content with larger groups, what’s become clear is the app’s main usage remains where it started: messaging. But that’s not where it is making money. Instead it makes much of its ad revenue from users’ Stories, where people post... For all of Snap’s focus on being a broadcasting service for millennials who share content...

Sources: Newmark Cornish & Carey, Buildzoom, Hello Office, CBRE, other real estate sources, city records

Led by Alphabet, Apple, Tech Firms Could Double Footprint in Bay Area

By Cory Weinberg and Mike Sullivan · Jan 30, 2018 7:00am PST · 5 comments

Many of the world’s fastest-growing tech companies call the San Francisco Bay Area home. They have expanded over the past decade by turning old industrial land into sprawled-out offices and filling new skyscrapers. But the next phase of real estate growth is likely to be even more transformative, as the companies lay plans to double the... Many of the world’s fastest-growing tech companies call the San Francisco Bay Area home....

A session of the Chinese Communist Party's National Congress last October. Photo by Bloomberg.

Open vs. Closed in National Tech Strategies: the U.S. and China

By Sam Lessin · Jan 29, 2018 11:13am PST · 11 comments

A session of the Chinese Communist Party's National Congress last October. Photo by Bloomberg.

Modest Proposals

Open vs. Closed in National Tech Strategies: the U.S. and China

By Sam Lessin · Jan 29, 2018 11:13am PST · 11 comments

In the last several months, the Chinese government has moved swiftly to manage and shape self-driving cars, genetics data and cryptocurrencies in their country—arguably the three most promising technologies of the immediate future.The Chinese are very good at this managed-closed strategy. Their top-down approach has some clear benefits... In the last several months, the Chinese government has moved swiftly to manage and shape...