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

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Recent Editions

A pedestrian in Shanghai walks past a poster for "Transformers: Age of Extinction" in 2014. Photo by AP.

China Credit Crackdown Hits Hollywood

By Matt Pressberg · May 1, 2018 10:00am PDT

A regulatory crackdown on aggressive borrowing by individuals and companies in China is squeezing firms doing business in Hollywood, including Dalian Wanda Group, owner of Legendary Entertainment and AMC Theaters, and LeEco. Then there is Huahua Media.Huahua helped Paramount’s “Transformers: Age of Extinction” make a... A regulatory crackdown on aggressive borrowing by individuals and companies in China is squeezing...

Amazon Employees Forfeit Stock Awards at Higher Rates

By Priya Anand and Mike Sullivan · May 1, 2018 7:00am PDT

Amazon.com’s stock hit a record of $1,638 last week after the company reported that it doubled its profit in the first quarter, surpassing analysts’ expectations. But some employees who were granted stock awards as part of their compensation packages might not fully benefit from the run-up in value. The rate at which employees... Amazon.com’s stock hit a record of $1,638 last week after the company reported that it...

A Didi vehicle in Nanjing, China, left, and a Meituan food delivery courier in Wuxi, China. Photos: AP

Didi vs. Meituan: China’s Biggest Tech Battle Heats Up

By Juro Osawa and Yunan Zhang · Apr 30, 2018 10:01am PDT

The battle between two of China’s biggest tech companies is escalating. As Didi Chuxing and Meituan muscle into each other’s turf, some investors are starting to worry that the competition may become a costly distraction for both as they prepare to go public. Meituan, a $30 billion Beijing-based startup offering food delivery, travel... The battle between two of China’s biggest tech companies is escalating. As Didi Chuxing and...

An attendee at Mobile World Congress in 2016 tries on a pair of Recon's smart spectacles. Photo: Bloomberg

Inside Intel’s Failed Wearables Gambit

By Aaron Tilley · Apr 30, 2018 7:01am PDT · 2 comments

An attendee at Mobile World Congress in 2016 tries on a pair of Recon's smart spectacles. Photo: Bloomberg

Inside Intel’s Failed Wearables Gambit

By Aaron Tilley · Apr 30, 2018 7:01am PDT · 2 comments

On the day Intel completed its $175 million purchase of smart-spectacle maker Recon Instruments in June 2015, Intel CEO Brian Krzanich flew to Recon’s Vancouver headquarters to welcome the 60-person company. For the next year, he showed close interest in the business, meeting frequently with Recon chief Dan Eisenhardt, even though Mr.... On the day Intel completed its $175 million purchase of smart-spectacle maker Recon Instruments...

The Information’s 411 — Fulfilled by Amazon

By Tom Dotan · Apr 27, 2018 12:53pm PDT

Priya talks about Amazon's quarterly earnings and her story on private equity firms looking to buy up Amazon sellers. Cory dives into the discussions between Uber and Lyft and cities over public transit. Priya talks about Amazon's quarterly earnings and her story on private equity firms looking...

Comcast CEO Brian Roberts. Photo by Bloomberg.

The Tech Company Comcast Should Buy Instead of Sky

By Jessica E. Lessin · Apr 27, 2018 7:01am PDT · 3 comments

Comcast’s Brian Roberts wants to plunk down $31 billion to acquire Sky, a European pay TV company previously promised to Disney via its pending acquisition of parts of Fox.There’s a lot standing in the way of the deal—specifically three Murdochs and Disney’s CEO Bob Iger (presumably). So the thing that crossed my mind... Comcast’s Brian Roberts wants to plunk down $31 billion to acquire Sky, a European pay TV...

Fearing More Data Breaches, Firms Try New Approach to Security

By Sarah Kuranda · Apr 26, 2018 7:00am PDT · 5 comments

When cybersecurity strategist Stephen Moore evaluates corporate security systems, he often is struck by how analysts charged with spotting potential threats still track key information by hand. They resort to handwritten notes, he said, because so many companies use myriad, unlinked systems to scan network traffic, email and devices for signs of... When cybersecurity strategist Stephen Moore evaluates corporate security systems, he often is...

VSCO CEO Joel Flory. Photo by Bloomberg.

Once-Hot Social Startup VSCO Finds Success With Subscriptions

By Cory Weinberg · Apr 25, 2018 10:01am PDT · 3 comments

VSCO CEO Joel Flory. Photo by Bloomberg.

Once-Hot Social Startup VSCO Finds Success With Subscriptions

By Cory Weinberg · Apr 25, 2018 10:01am PDT · 3 comments

VSCO, a hip photo-and-video-editing app popular with people younger than 25, captured attention as a startup riding the early mobile, social wave. Instagram tried to buy it at one point and VSCO later raised $70 million in venture funding. But finding a profitable business model was tougher. To cut costs, the Oakland, Calif.–based company... VSCO, a hip photo-and-video-editing app popular with people younger than 25, captured attention...

A worker preparing an Amazon package for shipment, at Amazon's fulfillment center in Kenosha, Wisconsin. Photo by Bloomberg.

Private Equity Firms Targeting Amazon Sellers

By Priya Anand · Apr 25, 2018 7:01am PDT · 1 comment

A new consolidation wave in retail is brewing: a rollup of some of the two million merchants that sell on Amazon’s platform.Small private equity firms and other investors have begun circling small businesses that sell on Amazon, looking to buy up and combine the most attractive, several brokers told The Information. Most investors are... A new consolidation wave in retail is brewing: a rollup of some of the two million merchants that...

What’s the IPO Price? Check With the Mutual Funds

By Alfred Lee and Mike Sullivan · Apr 24, 2018 7:02am PDT · 3 comments

Mutual funds that invest in private tech companies are surprisingly good at predicting what a tech company will be worth when it goes public, an analysis of recent IPOs shows. The finding undercuts criticism leveled at mutual funds by tech executives, who have said the estimates bear little relation to the value of their companies.A review of 18... Mutual funds that invest in private tech companies are surprisingly good at predicting what a...

Salesforce COO Keith Block. Art by Mike Sullivan

Q&A

Salesforce’s Keith Block Is Still Cautious About AI

By Kevin McLaughlin · Apr 23, 2018 10:01am PDT · 1 comment

Salesforce COO Keith Block is as effusive as any sales executive when discussing Salesforce’s “amazing” culture or the potential of digital technology to reinvent businesses. But when it comes to the impact of artificial intelligence, Mr. Block is much more restrained. AI has significant promise, he says, but Salesforce is... Salesforce COO Keith Block is as effusive as any sales executive when discussing...

A Lyft car at Los Angeles airport. Photo by Bloomberg.

Friends, or Frenemies? Lyft, Uber Struggle to Work With Transit Systems

By Cory Weinberg · Apr 23, 2018 7:00am PDT

A Lyft car at Los Angeles airport. Photo by Bloomberg.

Friends, or Frenemies? Lyft, Uber Struggle to Work With Transit Systems

By Cory Weinberg · Apr 23, 2018 7:00am PDT

Lyft thought it had the perfect match last year to explore how its ride-hailing service could help commuters. The company spent months working on an ambitious project with the largest public transit agency in Los Angeles, which would use a $1.3 million federal grant to test subsidizing shared Lyft Line trips to and from public transit stations.... Lyft thought it had the perfect match last year to explore how its ride-hailing service could...

The Information’s 411 — A DeepMind Is a Terrible Thing to Waste

By Tom Dotan · Apr 20, 2018 3:19pm PDT

Kevin talks about the challenges for DeepMind as it integrated into Alphabet and the conflicts it had with Google's other AI team, Google Brain. Amir dives into the electric scooter frenzy and why these devices are running straight into a regulatory controversy. Kevin talks about the challenges for DeepMind as it integrated into Alphabet and the conflicts it...

Subscriber Survey

The Information Subscribers Most Likely to Pay for Google Among Tech Services

By Wendy Pollack and Mike Sullivan · Apr 20, 2018 12:19pm PDT · 5 comments

More than 40% of subscribers say they would be willing to pay for access to Google, if it meant that the company would no longer rely on users’ personal information to sell advertising, results of The Information’s latest survey show. Subscribers showed far less interest in paying for other services, including YouTube, Facebook and... More than 40% of subscribers say they would be willing to pay for access to Google, if it meant...

Marissa Mayer. Photo by Bloomberg.

Why We Urgently Need a Female Elon Musk

By Jessica E. Lessin · Apr 20, 2018 7:02am PDT · 13 comments

In some ways, it was a fabulous week for women. An overwhelmingly female team of journalists at the New York Times were jointly awarded a Pulitzer Prize for exposing serial harassers like Harvey Weinstein. A team at the Washington Post, again dominated by women, won another Pulitzer for their investigation into Roy Moore. But it was also a very... In some ways, it was a fabulous week for women. An overwhelmingly female team of journalists at...

A person riding a scooter in San Francisco last week. Photo: Bloomberg

No Longer a Gimmick, Electric Scooters and Bikes Face Scrutiny

By Cory Weinberg and Amir Efrati · Apr 19, 2018 11:18am PDT · 5 comments

A person riding a scooter in San Francisco last week. Photo: Bloomberg

No Longer a Gimmick, Electric Scooters and Bikes Face Scrutiny

By Cory Weinberg and Amir Efrati · Apr 19, 2018 11:18am PDT · 5 comments

Uber’s agreement last week to acquire Jump, an electric bike-sharing service, brought new legitimacy to a business that had been viewed by some as a novelty. But the high-profile deal also has exposed concerns about whether motorized bikes and scooters can live up to heightened expectations. Former Uber CEO Travis Kalanick, who is still a... Uber’s agreement last week to acquire Jump, an electric bike-sharing service, brought new...

DeepMind CEO Demis Hassabis. Photo by Bloomberg.

Deep Confusion: Tensions Lingered Within Google Over DeepMind

By Kevin McLaughlin and Jessica E. Lessin · Apr 19, 2018 7:01am PDT · 6 comments

When Google unveiled its plan to form an Alphabet holding company in 2015, it was pitched as a way to ensure Google’s blue-sky bets in areas like self-driving cars and health care could flourish under independent leadership. One business that hoped to capitalize on the new arrangement was the London-based artificial intelligence startup... When Google unveiled its plan to form an Alphabet holding company in 2015, it was pitched as a...

Intel CEO Brian Krzanich. Photo by Bloomberg

Intel Plans to Shut Down Smart Glasses Group

By Aaron Tilley · Apr 18, 2018 5:39pm PDT · 1 comment

Intel’s long-failing foray into wearables and augmented reality is officially dead.The chip giant’s new devices group will shut down, according to people familiar with the situation. The division, formed in 2013, made fitness trackers and smart glasses. Despite an investment of several hundred million dollars by Intel, including... Intel’s long-failing foray into wearables and augmented reality is officially dead.The chip...

The CIA's seal at its Virginia headquarters. DataTribe draws on talent from the CIA and the NSA. Photo by AP

DataTribe’s Cybersecurity Investment Strategy: Building Firms From Scratch

By Sarah Kuranda · Apr 18, 2018 11:18am PDT · 2 comments

Venture capitalist Bob Ackerman doesn’t want to compete for funding deals. Instead, the founder of VC firm AllegisCyber is taking a new approach. He looks for gaps in the cybersecurity market and creates companies to fill them.Mr. Ackerman co-founded a company two years ago called DataTribe, which looks for problems it believes... Venture capitalist Bob Ackerman doesn’t want to compete for funding deals. Instead, the...

Cheddar CEO Jon Steinberg. Photo by Bloomberg.

In Search for Profits, Cheddar and TYT Take Long View on Skinny Bundles

By Tom Dotan · Apr 18, 2018 7:01am PDT

Cheddar CEO Jon Steinberg. Photo by Bloomberg.

In Search for Profits, Cheddar and TYT Take Long View on Skinny Bundles

By Tom Dotan · Apr 18, 2018 7:01am PDT

Online-only video networks like Cheddar and TYT Network have raised tens of millions of dollars in venture capital money on the premise that online video viewing will skyrocket. Now comes the hard part: figuring out how to make money.Both startups have been generating revenue from advertising—Cheddar reported $11 million in sponsorship... Online-only video networks like Cheddar and TYT Network have raised tens of millions of dollars...