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

Careem CEO Mudassir Sheikha. Art by Matt Vascellaro.

Uber’s Middle East Goals Tested by Local Rival

By Amir Efrati · Jul 18, 2017 10:00am PDT · 6 comments

As the global ride-hailing industry begins to consolidate around a handful of companies like Didi Chuxing, Uber and Yandex, one region that could get more attention is the Middle East, where Uber claims to have an edge over the local incumbent, Dubai-based Careem. Internal Uber data show Uber’s share of the market by revenue has slipped to... As the global ride-hailing industry begins to consolidate around a handful of companies like Didi...

Art by Matt Vascellaro.

Filtering Augmented Reality’s Fantasies

By Tom Dotan and Reed Albergotti · Jul 18, 2017 7:02am PDT · 8 comments

Snapchat’s lenses and Pokemon Go have demonstrated how augmented reality can be a popular toy-like feature on smartphones. Now the question is, when will AR drive applications that can be used for more than a moment of fun? The answer is, not for a few years. While various tech companies like Facebook and Apple have unveiled sophisticated... Snapchat’s lenses and Pokemon Go have demonstrated how augmented reality can be a popular...

The Information's San Francisco Summit in 2016. Photo by Julie Mikos.

Jobs@TheInformation

Join The Information’s Events Team!

By The Information Staff · Jul 17, 2017 4:10pm PDT

The Information is a fast-growing media startup in the heart of downtown San Francisco. Politico called us "a well respected, scoopy journalism outfit and a must-read for many global business elites." Fortune, Vanity Fair and Digiday have also recently featured our business as an innovator in media. We’re a must-read for the most... The Information is a fast-growing media startup in the heart of downtown San Francisco. Politico...

Turo’s rental-agency rivals say the car-sharing startup has enjoyed an unfair advantage because it doesn’t pay airport fees. Photo by Bloomberg.

Turo Eyes New Funding as Car-Sharing Fight Revs Up

By Cory Weinberg · Jul 17, 2017 3:29pm PDT · 4 comments

Turo’s rental-agency rivals say the car-sharing startup has enjoyed an unfair advantage because it doesn’t pay airport fees. Photo by Bloomberg.

Turo Eyes New Funding as Car-Sharing Fight Revs Up

By Cory Weinberg · Jul 17, 2017 3:29pm PDT · 4 comments

Turo, which runs an Airbnb-like marketplace for car rentals, is looking to raise about $100 million in a funding round that would value the company at roughly $700 million, two people familiar with the matter said.The round, which is expected to close by next month, could position the under-the-radar company for a more prominent role in the... Turo, which runs an Airbnb-like marketplace for car rentals, is looking to raise about $100...

VMware CEO Pat Gelsinger. Photo by Bloomberg.

Next Phase of AWS-VMware Venture Could Be Data Center Software

By Kevin McLaughlin · Jul 17, 2017 7:00am PDT · 1 comment

Amazon Web Services is discussing developing software for corporate data centers with its one-time arch enemy, VMware, said a person with knowledge of the plans. The deal, if struck, would shake up the enterprise software industry by expanding AWS’s customer base significantly and help the Michael Dell-controlled VMware retain its... Amazon Web Services is discussing developing software for corporate data centers with its...

Modest Conversations

Viewpoint From The Silicon Valley Entering Class of ‘17

By Sam Lessin · Jul 16, 2017 2:54pm PDT

Samantha joins as a representative of the Silicon Valley entering class of 2017 having just graduated from Columbia CS and moving on to Facebook engineering. She talks about how she got interested in tech, her personal projects, and what interests her at the intersection of tech and the broader world. Samantha joins as a representative of the Silicon Valley entering class of 2017 having just...

David VanderWaal, vice president of marketing for LG Electronics USA and Michael George, vice president of Alexa, Echo, and Appstore at Amazon, discussing an LG-Amazon Alex partnership at CES this year. Photo by Bloomberg.

The Weekly Digest

The Information You Missed This Week

By The Information Staff · Jul 15, 2017 8:01am PDT · 1 comment

Good Morning!You know things are bad in Washington when Jared and Ivanka would rather be in Sun Valley with media executives trying to save their jobs than with White House colleagues doing the same. Good Morning!You know things are bad in Washington when Jared and Ivanka would rather be in Sun...

The Information’s 411 — Throwing Shade in Sun Valley

By Cory Weinberg · Jul 14, 2017 12:56pm PDT

The Information’s 411 — Throwing Shade in Sun Valley

By Cory Weinberg · Jul 14, 2017 12:56pm PDT

Kevin explains how Amazon's Echo is catching up to Google Home. Jon talks about why VCs are investing in crypto currency. Plus, Amir and Tom detail what they have seen and heard in Sun Valley. Kevin explains how Amazon's Echo is catching up to Google Home. Jon talks about why VCs are...

Joelle Emerson, left, and Noreen Farrell. Photo of Farrell by Chuck Revell

More Than a Pledge: Using the Law to Combat VC Sexual Harassment

By Noreen Farrell and Joelle Emerson · Jul 14, 2017 10:00am PDT · 7 comments

There seems to be an unending list of examples of sexism and bias in the venture capital industry. Whether it is the latest news of widespread harassment and subsequent “apologies” from harassers, or the longstanding pattern of female entrepreneurs struggling to get funding (and women of color receiving virtually none),... There seems to be an unending list of examples of sexism and bias in the venture capital...

Jared Kushner and Ivanka Trump at the Allen & Co conference in Sun Valley, Idaho on Thursday. Photo by Bloomberg.

What We Learned in Sun Valley

By Tom Dotan and Amir Efrati · Jul 14, 2017 7:02am PDT

SUN VALLEY, Idaho—Despite the intense heat, the air at this year’s media-and-tech gathering run by investment bank Allen & Co. had a familiar energy. Media and telecom executives are struggling to retain their grip on power while complaining about tech companies exerting their overwhelming influence.Among the highlights: ad... SUN VALLEY, Idaho—Despite the intense heat, the air at this year’s media-and-tech...

Ofo bikes on a sidewalk in Shanghai. Photo by Bloomberg

China’s Bike-Share Upstarts Face Tough Road in U.S.

By Cory Weinberg · Jul 13, 2017 7:01am PDT

Like several other local transportation officials in the U.S. in recent weeks, Eric Bourassa of the Boston area’s planning council has fielded meeting requests from Ofo, China’s fast-growing bike-share company. Ofo is considering a major expansion into the U.S. and is discussing options with officials in New York, Philadelphia, San... Like several other local transportation officials in the U.S. in recent weeks, Eric Bourassa of...

David VanderWaal, vice president of marketing for LG Electronics USA and Michael George, vice president of Alexa, Echo, and Appstore at Amazon, discussing an LG-Amazon Alex partnership at CES this year. Photo by Bloomberg.

Facing New Rivals, Amazon May Open Up Alexa Data for Developers

By Kevin McLaughlin · Jul 12, 2017 10:01am PDT · 4 comments

David VanderWaal, vice president of marketing for LG Electronics USA and Michael George, vice president of Alexa, Echo, and Appstore at Amazon, discussing an LG-Amazon Alex partnership at CES this year. Photo by Bloomberg.

Facing New Rivals, Amazon May Open Up Alexa Data for Developers

By Kevin McLaughlin · Jul 12, 2017 10:01am PDT · 4 comments

Amazon.com is mulling a far-reaching policy change that would give Alexa developers access to raw transcripts of what people say when using Alexa applications, said three people familiar with the matter. It comes as the market for voice-activated speakers and digital assistants is getting more crowded, spotlighting the value of signing up... Amazon.com is mulling a far-reaching policy change that would give Alexa developers access to raw...

Union Square Ventures partner Fred Wilson. Photo by Bloomberg.

Risks Facing VCs Planning to Invest in Cryptocurrencies

By Jon Victor and Serena Saitto · Jul 12, 2017 7:01am PDT · 5 comments

Some venture capital firms, including Bessemer Venture Partners and Union Square Ventures, are planning to invest in initial coin offerings, giving them direct exposure to cryptocurrencies after years of investing in startups operating in the sector. Making such investments would be risky and unorthodox for VCs.ICOs are crowdfunding campaigns... Some venture capital firms, including Bessemer Venture Partners and Union Square Ventures, are...

A man walking past Ofo bikes in Shanghai last May. Photo by Bloomberg.

SoftBank May Invest in Chinese Bike Rental Firm Ofo

By Shai Oster, Juro Osawa and Yunan Zhang · Jul 11, 2017 8:14am PDT

Masayoshi Son’s SoftBank Group is in talks to invest in Chinese bike rental firm Ofo, people familiar with the matter said, the latest sign of how the hugely popular bike-sharing business in China is drawing big name investors. Ofo’s backers already include Chinese e-commerce company Alibaba Group, ride-sharing giant Didi Chuxing and... Masayoshi Son’s SoftBank Group is in talks to invest in Chinese bike rental firm Ofo,...

Bancor business development chief Galia Benartzi. Photo by Flickr/Genady Shkolnik.

The Big Interview

Bancor’s Plans for Local Cryptocurrencies

By Jon Victor · Jul 11, 2017 7:01am PDT · 5 comments

One of the biggest questions surrounding the much-hyped cryptocurrency world is why anyone would use digital currencies instead of cash. The founders of Bancor think the answer lies in small communities, like the residents of an apartment building or neighborhood.That’s based in part on an experience the Bancor team had while working at an... One of the biggest questions surrounding the much-hyped cryptocurrency world is why anyone would...

Advocates of housing development in the Bay Area often run up against zoning laws and local objections to development. Photo: Bloomberg

Tech Leaders Seek Bigger Political Role With Housing Push

By Cory Weinberg · Jul 10, 2017 10:00am PDT · 5 comments

Advocates of housing development in the Bay Area often run up against zoning laws and local objections to development. Photo: Bloomberg

Tech Leaders Seek Bigger Political Role With Housing Push

By Cory Weinberg · Jul 10, 2017 10:00am PDT · 5 comments

A small group of executives at tech companies like Microsoft, Stripe and Yelp are organizing and funding a new effort to sway policy that would make way for more housing development in California—a political debate that industry leaders have largely avoided until now. Led by Microsoft executive Nat Friedman, Pantheon CEO Zack Rosen and San... A small group of executives at tech companies like Microsoft, Stripe and Yelp are organizing and...

Campus of UCLA, an early investor in Binary Capital. Photo by Flickr/Better than Bacon.

LPs Push for VCs to Disclose More About Partners

By Reed Albergotti · Jul 10, 2017 7:02am PDT · 2 comments

When university endowment funds, charities and other investors consider putting money into a venture capital firm, they typically investigate the firm’s financial performance and how it competes with other firms for good investments. Some make as many as 30 or 40 calls, following up on references provided by the firms.One question that... When university endowment funds, charities and other investors consider putting money into a...

Modest Conversations

Modest Conversations: Solving The Problems of Modern Cities

By Sam Lessin · Jul 9, 2017 4:08pm PDT

Eran Shir of Nexar joins me to discuss autonomy & the problem of the modern city - in particular congestion taxes for ride-sharing, inequality and autonomy. Eran Shir of Nexar joins me to discuss autonomy & the problem of the modern city - in...

Jawbone co-founder Hosain Rahman. Photo by Bloomberg

The Weekly Digest

The Information You Missed This Week

By The Information Staff · Jul 8, 2017 8:00am PDT · 1 comment

Good Morning!So Jawbone is out of business and Fitbit is struggling. Seems people really don’t want to know how few steps they take. Good Morning!So Jawbone is out of business and Fitbit is struggling. Seems people really...

The Information’s 411 — Liquidation and Lobsters

By Cory Weinberg · Jul 7, 2017 2:36pm PDT

The Information’s 411 — Liquidation and Lobsters

By Cory Weinberg · Jul 7, 2017 2:36pm PDT

Reed talks about why Jawbone went under. Plus, Hannah discusses how VCs are trying to create more accountability in the industry and Amir breaks down how Uber is trying to fill its executive holes. Reed talks about why Jawbone went under. Plus, Hannah discusses how VCs are trying to create more...