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

Mark Zuckerberg. Photo by Bloomberg.

What Publishers Missed About Facebook’s News Feed

By Jessica E. Lessin · Jan 19, 2018 7:00am PST · 5 comments

When Mark Zuckerberg recently announced News Feed would show less content from publishers, I had a major moment of deja vu. Remember when our News Feeds were riddled with games like Farmville, the Nike running app and Spotify? That was the result of a concerted effort by Facebook to get people to spend more time on the service. Eventually, it... When Mark Zuckerberg recently announced News Feed would show less content from publishers, I had...

Photo by Bloomberg.

Snap Lays Off Two Dozen Employees

By Tom Dotan · Jan 18, 2018 1:21pm PST · 1 comment

Snap laid off around two dozen people in recent days, mostly in its content team, according to people close to the company. The staff cuts, which also affected people in several other departments, are the latest sign of how Snap is being cost-conscious amid struggles with slow user and revenue growth. Snap’s content team, which reports to... Snap laid off around two dozen people in recent days, mostly in its content team, according to...

An AWS office in Virginia. Photo by AP

Can’t Code? AWS Project Aims to Attract Broader Range of Users

By Kevin McLaughlin · Jan 18, 2018 10:02am PST

Amazon is entering the “no-code" game. The cloud leader wants to enable business users who aren't engineers to build customized apps solving specific problems, merely by dragging and dropping app components into a graphical interface. Google and Microsoft, among others, got a head start in the market for so-called... Amazon is entering the “no-code" game. The cloud leader wants to enable business users...

Ofo bikes parked in Shanghai last year. Photo by Bloomberg.

Inside Alibaba and Didi’s Tussle Over a Multibillion Dollar Startup

By Juro Osawa and Yunan Zhang · Jan 18, 2018 7:02am PST · 1 comment

Ofo bikes parked in Shanghai last year. Photo by Bloomberg.

Inside Alibaba and Didi’s Tussle Over a Multibillion Dollar Startup

By Juro Osawa and Yunan Zhang · Jan 18, 2018 7:02am PST · 1 comment

Last fall, Didi Chuxing tried to get bike-sharing company Ofo to merge with main competitor Mobike. The attempt, led by Didi and other Ofo investors, failed because the bike startups strongly opposed it, according to people familiar with the talks. Then Didi, Ofo’s largest shareholder, changed course and launched its own bike-sharing... Last fall, Didi Chuxing tried to get bike-sharing company Ofo to merge with main competitor...

Photo by Bloomberg

Why Smart Devices Will Get More Expensive

By Aaron Tilley · Jan 17, 2018 10:06am PST · 1 comment

Smart speakers equipped with voice assistants from Amazon and Google have taken off recently for one big reason: prices as low as $30. But if chipmakers have their way, this hardware could get a lot more expensive in the near future. And that could put a crimp in growth of this market, where the usefulness of these devices is still being... Smart speakers equipped with voice assistants from Amazon and Google have taken off recently for...

Clockwise from top left: Amish Jani; Hemant Taneja; Mike Volpi; John Frankel; Joe Lonsdale; Navin Chaddha; Scott Sandell; John Doerr. Photos: Messrs. Jani, Taneja and Doerr via TechCrunch; other via Bloomberg.

How Many Board Seats Is Too Many?

By Alfred Lee · Jan 17, 2018 7:01am PST · 4 comments

Scandals at Uber and SoFi have led to renewed calls for stronger board oversight in Silicon Valley. But is that possible from a director who sits on 18 boards?The Information identified at least 24 venture capitalists who hold nine or more directorships at technology companies, including partners at Benchmark, Kleiner Perkins and Andreessen... Scandals at Uber and SoFi have led to renewed calls for stronger board oversight in Silicon...

Photo by Bloomberg

Amazon, Netflix Should Consider Buying Movie Theaters

By Matt Pressberg · Jan 16, 2018 10:40am PST · 4 comments

The new action movie starring Will Smith, “Bright,” was watched by an estimated 11 million people in the three days after it premiered on Dec. 22 on Netflix. In theaters, that audience would translate to a nearly $100 million box office opening weekend. That’s better than all but six movie openings in the U.S. last year. But... The new action movie starring Will Smith, “Bright,” was watched by an estimated 11...

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

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

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

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 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

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

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

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...