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

Apple CEO Tim Cook at an event in 2012. Photo by AP.

The Seven-Year Itch: How Apple’s Marriage to Siri Turned Sour

By Aaron Tilley and Kevin McLaughlin · Mar 14, 2018 7:02am PDT · 5 comments

Apple’s 2011 “Let’s talk iPhone” event at its Cupertino headquarters was a pivotal moment for the company. It was the first big showcase for new CEO Tim Cook as he tried to fill the shoes of the legendary but ailing Steve Jobs. Yet the event threatened to disappoint because the company’s new iPhone, the 4s, was... Apple’s 2011 “Let’s talk iPhone” event at its Cupertino headquarters was...

Jobs@TheInformation

Join The Information as Our Growth Marketing Analyst

By The Information Staff · Mar 13, 2018 12:48pm PDT

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. Over 20% of our subscriber community is a founder or CEO,... The Information is a San Francisco-based subscription publication known for original, in-depth...

A Roku streaming device and remote control. Photo by AP

Despite High Stock Price, Roku Is No Netflix

By Tom Dotan · Mar 13, 2018 10:52am PDT · 4 comments

Of all the tech companies that went public last year, Roku may have been the biggest surprise hit. Having made itself almost as synonymous with fast-growing streaming video as Netflix, Roku’s stock soared as high as $50 from an IPO price of $14. Even after a recent sell-off, sparked by slowing sales in the fourth quarter, Roku’s... Of all the tech companies that went public last year, Roku may have been the biggest surprise...

Illustration by Javier Garcia

Inside Cruise’s Bumpy Ride: The Limits of Self-Driving Cars

By Amir Efrati · Mar 13, 2018 7:02am PDT · 8 comments

Illustration by Javier Garcia

Inside Cruise’s Bumpy Ride: The Limits of Self-Driving Cars

By Amir Efrati · Mar 13, 2018 7:02am PDT · 8 comments

When General Motors paid $581 million for self-driving car startup Cruise in 2016, it was one of the biggest bets by a company in the nascent business. Two years later, Cruise is a case study of the perils and the promise of self-driving car technology. Despite some advances, Cruise’s vehicles being tested in San Francisco are still... When General Motors paid $581 million for self-driving car startup Cruise in 2016, it was one of...

Salesforce's Richard Socher. Photo: Bloomberg

Q&A

The Scientist Behind Salesforce’s AI Push

By Kevin McLaughlin · Mar 12, 2018 10:00am PDT · 1 comment

Artificial intelligence scientist Richard Socher might seem like an odd fit for Salesforce, a juggernaut in sales and marketing software for businesses. But in nearly two years at Salesforce, Mr. Socher has helped develop new AI-powered software that helps its customers identify promising sales leads and monitor their brands on social media. His... Artificial intelligence scientist Richard Socher might seem like an odd fit for Salesforce, a...

The Toutiao app icon. Photo: Imaginechina via AP

How a Little-Known Startup Became a Tech Behemoth

By Juro Osawa and Yunan Zhang · Mar 12, 2018 7:02am PDT

In less than a year, the startup behind China’s most popular newsfeed Toutiao has transformed itself into a $30 billion empire of more than a dozen media and entertainment apps. Its breakneck expansion and skyrocketing valuation are prompting questions about whether it is on course to become the next Alibaba or Tencent, or if the rapid... In less than a year, the startup behind China’s most popular newsfeed Toutiao has...

The Weekly Digest

The Information You Missed This Week

By The Information Staff · Mar 10, 2018 8:01am PST · 1 comment

Good Morning!We found out this week that Alexa has the second-strangest laugh at Amazon. But Jeff Bezos’ laugh can’t be improved with a software fix. Good Morning!We found out this week that Alexa has the second-strangest laugh at Amazon. But Jeff...

The Information’s 411 — Clear Eyes, Whole Foods, Can’t Lose

By Tom Dotan · Mar 9, 2018 2:49pm PST

The Information’s 411 — Clear Eyes, Whole Foods, Can’t Lose

By Tom Dotan · Mar 9, 2018 2:49pm PST

Jessica explains why media companies are investing less in tech. Priya talks about the battle between Amazon and Instacart over grocery deliveries. Tom analyzes Evan Spiegel's quixotic mission to make Snap break even. Jessica explains why media companies are investing less in tech. Priya talks about the battle...

Paramount Pictures' studio lot in Hollywood. Photo by AP.

Why Studios Should Leave Hollywood

By Matt Pressberg · Mar 9, 2018 9:40am PST · 1 comment

Last fall, CBS put its Television City compound in West Los Angeles on the market, saying that it was worth a lot of money that could be “used better elsewhere.” Other film and TV companies that own vast studio lots in the same area, such as 21st Century Fox, Viacom and Sony, should follow suit. These properties, which date to... Last fall, CBS put its Television City compound in West Los Angeles on the market, saying that it...

Chart by Mike Sullivan

Media’s Serious Cutback in Startup Investing

By Jessica E. Lessin · Mar 9, 2018 7:01am PST

Last week, I argued which tech companies are most and least likely to buy media companies. It made me wonder how aggressive media companies have been in tech deal-making. So I looked at their investing patterns, and they surprised me.Traditional media companies last year appeared to invest their smallest amount in startups since 2012, according... Last week, I argued which tech companies are most and least likely to buy media companies. It...

Snap's co founders, Bobby Murphy and Evan Spiegel at the New York Stock Exchange last year. Photo by AP.

Spiegel Sets Ambitious Goal for Snap: Break Even This Year

By Tom Dotan · Mar 8, 2018 2:17pm PST

Snap CEO Evan Spiegel has told employees in a company-wide directive he wants the company to work toward break-even this year, an ambitious goal that could require Snap to aggressively cut costs.Snap last year lost $720 million, before interest, taxes and charges like stock compensation expenses, due mostly to heavy spending on research and... Snap CEO Evan Spiegel has told employees in a company-wide directive he wants the company to work...

Xiaomi chairman and CEO Lei Jun. Photo by Bloomberg

The China Tech Companies Headed for IPOs in U.S and Hong Kong

By Shai Oster, Juro Osawa and Yunan Zhang · Mar 8, 2018 7:01am PST · 3 comments

Xiaomi chairman and CEO Lei Jun. Photo by Bloomberg

The China Tech Companies Headed for IPOs in U.S and Hong Kong

By Shai Oster, Juro Osawa and Yunan Zhang · Mar 8, 2018 7:01am PST · 3 comments

This is shaping up to a banner year for Chinese tech companies going public on overseas stock markets, bankers say. At least nine firms have announced plans to go public in either the U.S. or Hong Kong, aiming to raise at least $3 billion total. An additional 30 with valuations of at least $1 billion are in the pipeline. In contrast, just 13... This is shaping up to a banner year for Chinese tech companies going public on overseas stock...

Eventbrite CEO Julia Hartz. Photo: AP

Eventbrite Tries to Maintain Its Luster

By Cory Weinberg and Alfred Lee · Mar 7, 2018 11:52am PST

Last fall, Eventbrite CEO Julia Hartz made a big business bet to spend $200 million, the equivalent of the 12-year-old ticketing site’s revenue last year, to buy a competitor, Ticketfly, from Pandora. To do so, she had to raise $134 million in a previously unreported funding round, one that came with an unusual degree of concessions to... Last fall, Eventbrite CEO Julia Hartz made a big business bet to spend $200 million, the...

Instacart's founder/CEO Apoorva Mehta. Photo by Bloomberg.

Instacart’s Blueprint for Fighting Amazon

By Priya Anand · Mar 7, 2018 7:02am PST · 1 comment

Now that Amazon.com is delivering Whole Foods groceries ordered online in several major markets, including San Francisco, life is about to get much tougher for Instacart. The online grocery delivery service—valued at more than $4 billion by investors—once had an exclusive agreement to fulfill orders of perishable food from Whole... Now that Amazon.com is delivering Whole Foods groceries ordered online in several major markets,...

The creators and stars of "McMafia" at a press event in January. Photo by AP.

Networks Taking a Gamble on Streaming Services

By Tom Dotan · Mar 6, 2018 10:31am PST

Cable channel AMC last week premiered a new series, “McMafia,” about the global underworld. In the past, cord-cutters who can’t watch AMC could have waited to catch the show on Hulu, where most AMC shows end up. But “McMafia” is headed for AMC’s subscription-streaming service, Sundance Now, a previously... Cable channel AMC last week premiered a new series, “McMafia,” about the global...

Red-Hot Crypto Market Fuels Coinbase Growth

By Sarah Kuranda and Mike Sullivan · Mar 6, 2018 7:01am PST · 1 comment

Red-Hot Crypto Market Fuels Coinbase Growth

By Sarah Kuranda and Mike Sullivan · Mar 6, 2018 7:01am PST · 1 comment

When a surge in bitcoin trading overwhelmed the servers at Coinbase in December, it was clear that rocketing interest in cryptocurrency was driving a flood of business to the exchange. Now, data from analytics firm Second Measure reveal just how sudden and steep the growth at Coinbase has been.Coinbase, one of the biggest exchanges for trading... When a surge in bitcoin trading overwhelmed the servers at Coinbase in December, it was clear...

A Chrysler Pacifica hybrid outfitted with Waymo's self-driving technology, displayed at the North American International Auto Show in Detroit. Photo by AP

Uber Seeks Deal for Waymo Cars

By Amir Efrati · Mar 5, 2018 10:15am PST · 2 comments

Now that the legal fight between Uber and Waymo is over, Uber wants to resurrect an old idea—partnering with Waymo to deploy self-driving cars, say people familiar with the situation.Since Dara Khosrowshahi became CEO last fall, Uber executives have signaled to Waymo a desire to allow Uber’s customers to ride in Waymo’s... Now that the legal fight between Uber and Waymo is over, Uber wants to resurrect an old...

Art by Sam Lessin

Modest Proposals

The Double-Edged Sword of Using Blockchains for Identity Portability

By Sam Lessin · Mar 5, 2018 7:01am PST · 16 comments

For as long as I can remember a strong cohort of technologists have agitated for identity portability between internet services. Their theory goes that individuals should “own” the reputation and identity data about them stored inside platforms and be able to take that information with them between services. They believe portability... For as long as I can remember a strong cohort of technologists have agitated for identity...

The Weekly Digest

The Information You Missed This Week

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

Good Morning!The frontrunner for Best Picture at Sunday’s Oscars is Three Billboards Outside Ebbing, Missouri, a disturbing movie about injustice in America. Or as Silicon Valley sees it, a cautionary tale about wasting ad dollars. Good Morning!The frontrunner for Best Picture at Sunday’s Oscars is Three Billboards...

The Information’s 411 — Google’s Apartment Plex

By Tom Dotan · Mar 2, 2018 1:31pm PST

The Information’s 411 — Google’s Apartment Plex

By Tom Dotan · Mar 2, 2018 1:31pm PST

Cory talks about Google's efforts to build housing in the San Francisco Bay Area as it grows like a weed. Tom explains how Handy survived the gig economy startup die-off of 2015 and turned into a profitable business. Cory talks about Google's efforts to build housing in the San Francisco Bay Area as it grows...