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

Art by Matt Vascellaro.

What Marissa Mayer, Tony Fadell and Adam Bain Have in Common

By The Information Staff · Dec 5, 2016 7:00am PST

Our latest group of Free Agents—executives we interview who are thinking about their next gigs—includes a striking number of high-profile people who’ve had success in the past but recently fell short of their ambitions. Jason Kilar, who made his name launching Hulu, raised more than $100 million for his video startup which... Our latest group of Free Agents—executives we interview who are thinking about their next...

The Weekly Digest

The Information You Missed This Week

By The Information Staff · Dec 3, 2016 8:01am PST

Good Morning!It’s the holiday season. This may be the last year where holiday parties don’t occur in virtual reality. Good Morning!It’s the holiday season. This may be the last year where holiday parties...

The Information’s 411 — A Vacuum Problem

By Tom Dotan · Dec 2, 2016 4:33pm PST

Alfred talks about why investors can't buy Snap shares on the secondary market. Reed and Tom discuss which VR headsets have sold the most this year and why VCs have avoided investing in conservative sites. Alfred talks about why investors can't buy Snap shares on the secondary market. Reed and Tom...

Zenefits CEO David Sacks. Photo by Bloomberg.

Updated: Zenefits Searching for Possible New CEO

By Tom Dotan and Jessica E. Lessin · Dec 2, 2016 4:25pm PST · 9 comments

Zenefits CEO David Sacks. Photo by Bloomberg.

Updated: Zenefits Searching for Possible New CEO

By Tom Dotan and Jessica E. Lessin · Dec 2, 2016 4:25pm PST · 9 comments

Zenefits is trying to recruit senior managers who could replace CEO David Sacks, less than a year after he took over from embattled co-founder Parker Conrad, according to a person close to the company.If Mr. Sacks decides to step aside, he could take another role at the company like executive chairman. A company spokeswoman said: “David is... Zenefits is trying to recruit senior managers who could replace CEO David Sacks, less than a year...

Uber CEO Travis Kalanick. Photo by Bloomberg.

The Truth About Uber’s Otto Deal

By Jessica E. Lessin · Dec 2, 2016 7:01am PST · 3 comments

I was recently calling sources about the biggest tech M&A deals of 2016 and came across an interesting fact. Uber’s acquisition of Otto (described here by the company) isn’t quite as it appears. While it’s been widely covered as a deal in which Uber paid $680 million in equity for the self-driving trucking company, the... I was recently calling sources about the biggest tech M&A deals of 2016 and came across an...

An Otto truck coming out of Otto's headquarters in San Francisco. Photo by Flickr/Steve Jurvetson.

Otto and Cruise Near Big Office Deals

By Cory Weinberg · Dec 1, 2016 10:42am PST

Self-driving car firms are reigniting demand for office space in San Francisco’s real estate market. Cruise Automation and Otto, self-driving auto companies each recently acquired by bigger firms, are close to completing some of the largest office lease deals of the year in San Francisco, according to people familiar with the discussions.... Self-driving car firms are reigniting demand for office space in San Francisco’s real...

Snap CEO Evan Spiegel. Photo by Larry Busacca/Getty Images.

Snapping up Snap Ahead of IPO Proves Tough

By Alfred Lee · Dec 1, 2016 7:01am PST · 1 comment

Much like the crowds lining up to buy Snap’s new Spectacles, investors are rushing to grab stock in the owner of Snapchat before it goes public next year. But they’re finding little to buy as they scout the typical sources of stock—employees and other investors.Those existing shareholders are rebuffing offers to sell, even... Much like the crowds lining up to buy Snap’s new Spectacles, investors are rushing to grab...

Fitbit CEO James Park. Photo by Bloomberg.

Fitbit To Buy Pebble

By Reed Albergotti and Jessica E. Lessin · Nov 30, 2016 6:33pm PST · 2 comments

Fitbit CEO James Park. Photo by Bloomberg.

Fitbit To Buy Pebble

By Reed Albergotti and Jessica E. Lessin · Nov 30, 2016 6:33pm PST · 2 comments

Fitbit, the leader in the fitness band market, is near a deal to acquire smartwatch maker Pebble, according to three people briefed on the deal.The price couldn’t be learned but it is thought to be for a small amount. Pebble had been looking to sell, one of the people said. There have been signs over the past year or so that Pebble was... Fitbit, the leader in the fitness band market, is near a deal to acquire smartwatch maker Pebble,...

Source: The Information's Subscriber Survey

Subscriber Survey

Subscriber Optimism About Economy and Tech Plunges

By Martin Peers and Peter Schulz · Nov 30, 2016 12:46pm PST · 1 comment

Our subscribers got a lot more worried about the economy in the past month, our latest subscriber survey showed, an apparent reaction to Donald Trump’s election as president. Optimism plunged in the biggest shift since we began measuring attitudes two years ago. Sentiment toward tech also turned sharply negative, both toward the sector and... Our subscribers got a lot more worried about the economy in the past month, our latest subscriber...

Local Motors' Olli shuttle. Photo by Local Motors.

The Great Self-Driving Shuttle Race

By Amir Efrati · Nov 30, 2016 7:00am PST · 1 comment

It’s likely to be several years before you can buy a self-driving car. But a crop of startups is already selling self-driving shuttle buses that are being used in university campuses and corporate parks and could also work at airports, factories and theme parks.These companies, such as Navya and Local Motors, together have raised more than... It’s likely to be several years before you can buy a self-driving car. But a crop of...

Guo Wei. Art by Matt Vascellaro.

The New Wave of Chinese Investors in Silicon Valley

By Yunan Zhang · Nov 29, 2016 11:59am PST · 4 comments

Guo Wei, 29, arrives for a meeting at a Union Square coffee shop in San Francisco dressed in an unassuming plain T-shirt, loose sweatpants and a backpack. The only nod to the fact that he’s a minor celebrity in tech circles back home in China is a pair of dark sunglasses.Yet, he’s among a new wave of young upstart Chinese investors... Guo Wei, 29, arrives for a meeting at a Union Square coffee shop in San Francisco dressed in an...

Facebook CEO Mark Zuckerberg. Photo by Bloomberg.

On Facebook and Fake News

By Jessica E. Lessin · Nov 29, 2016 10:17am PST

Facebook CEO Mark Zuckerberg. Photo by Bloomberg.

On Facebook and Fake News

By Jessica E. Lessin · Nov 29, 2016 10:17am PST

The Information's CEO and founder Jessica Lessin wrote about the Facebook-Fake News debate in the op-ed page of The New York Times today.We finally got a grudging mea culpa from Mark Zuckerberg: an admission that fake news is a significant problem that his social network must help solve. The Information's CEO and founder Jessica Lessin wrote about the Facebook-Fake News debate...

Source: SuperData

Sony’s PlayStation is an Early Winner in VR Market

By Reed Albergotti and Peter Schulz · Nov 29, 2016 7:02am PST · 7 comments

There’s been a big surprise in the virtual reality wars right before the holiday selling season: Sony’s month-old PlayStation VR headset is exploding on the market, suggesting that rival devices from HTC and Oculus must either cut their prices or end up as only bit players.According to new estimates, the PlayStation VR will sell... There’s been a big surprise in the virtual reality wars right before the holiday selling...

Breitbart Executive Chairman Steve Bannon. Photo by AP.

How Silicon Valley Passed on Conservative Media

By Tom Dotan · Nov 28, 2016 10:00am PST · 3 comments

Earlier this year, Jon Klein was pitching his media company TAPP around a case study that one of its channels from a Christian radio host, Steve Arterburn, was generating $1 million in revenue a year. He argued it was proof that they could create other successful channels around faith and inspiration. But venture capitalists weren’t... Earlier this year, Jon Klein was pitching his media company TAPP around a case study that one of...

Google Cloud chief Diane Greene. Photo by Bloomberg.

Google Reorganizing Cloud Sales Team

By Kevin McLaughlin · Nov 28, 2016 7:02am PST · 2 comments

Google is reorganizing its Google Cloud division to combine its sales teams for Google Apps—now called G Suite—and its cloud hosting services, said two people with knowledge of the move. Google Cloud chief Diane Greene is hoping that unifying the structure will reduce costs and help the company close big deals faster to better... Google is reorganizing its Google Cloud division to combine its sales teams for Google...

The Information You Missed This Week

By The Information Staff · Nov 26, 2016 8:01am PST

The Weekly Digest

The Information You Missed This Week

By The Information Staff · Nov 26, 2016 8:01am PST

Good morning!We hope you managed to escape family arguments about fake news early enough to line up outside Target to score some fake deals. Good morning!We hope you managed to escape family arguments about fake news early enough to line...

The Information’s 411 — The Underground Is No Longer The Underground

By Tom Dotan · Nov 25, 2016 12:42pm PST · 1 comment

Sam and Tom get into a heated debate about whether easy distribution has created a monoculture of information and ideas. Cory explains Airbnb's new trips service and how the company is going to expand in China. Sam and Tom get into a heated debate about whether easy distribution has created a monoculture of...

The New Social Media Divide

By Jessica E. Lessin · Nov 25, 2016 7:02am PST · 6 comments

Hope you had a lovely Thanksgiving with friends and family. I’ve found the past few weeks a good time to reflect on how I consume information and, more broadly, how I spend my time. So far, one thing has become clear: I’m using Twitter and Facebook less. In the past month, I’ve found myself going to Twitter and Facebook News... Hope you had a lovely Thanksgiving with friends and family. I’ve found the past few weeks a...

A DJI "Inspire" drone. Photo by Bloomberg.

To Head Off Slowdown, Drone Leader DJI Targets Businesses

By Amir Efrati · Nov 23, 2016 10:01am PST · 4 comments

Known as the “Apple of drones,” DJI is flying high this year after mostly clearing the skies of its hardware competitors in the consumer market. But CEO Frank Wang isn’t winding down. He’s pitting teams of DJI engineers and salespeople against each other, with financial consequences for some of the winners and losers,... Known as the “Apple of drones,” DJI is flying high this year after mostly clearing...

Airbnb CEO Brian Chesky. Photo by Bloomberg.

Airbnb Plots Big China Push

By Cory Weinberg · Nov 23, 2016 7:01am PST

Airbnb CEO Brian Chesky. Photo by Bloomberg.

Airbnb Plots Big China Push

By Cory Weinberg · Nov 23, 2016 7:01am PST

Airbnb plans to expand its small Beijing office tenfold to 300 employees over the next two years after years of tiptoeing into the country. The on-the-ground expansion would bolster recent momentum, as Airbnb says by the end of next month it will have doubled its listings year over year in China to 100,000.China accounts for just 3% of total... Airbnb plans to expand its small Beijing office tenfold to 300 employees over the next two years...