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

The Information’s 411 — You Can’t Ignore Washington

By Tom Dotan · Jun 2, 2017 12:47pm PDT

Jessica talks about whether tech is effective in influencing the Trump administration. Amir dives into Uber's finance department and the fight for control. Jessica talks about whether tech is effective in influencing the Trump administration. Amir dives...

Elon Musk. Photo by Bloomberg.

Introducing @SiliconValley: Tech Meets Politics

By Jessica E. Lessin · Jun 2, 2017 7:00am PDT · 3 comments

After President Trump announced his decision to pull out of the Paris climate agreement Thursday, corporate leaders weren’t shy about voicing their views.And, much like the president himself, they took to Twitter to do so. After President Trump announced his decision to pull out of the Paris climate agreement Thursday,...

Jobs@TheInformation

Grow The Information Through Social Media

By The Information Staff · Jun 1, 2017 11:35am PDT · 1 comment

The Information is a fast-growing, thriving media startup in the heart of 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... The Information is a fast-growing, thriving media startup in the heart of San Francisco. Politico...

An attendee at Facebook’s F8 developers conference last year. Photo by Bloomberg.

Facebook Preps New Teen App, With a Nod Toward Parents

By Cory Weinberg · Jun 1, 2017 10:01am PDT · 2 comments

An attendee at Facebook’s F8 developers conference last year. Photo by Bloomberg.

Facebook Preps New Teen App, With a Nod Toward Parents

By Cory Weinberg · Jun 1, 2017 10:01am PDT · 2 comments

Facebook is trying to find more ways to get younger people to use its apps, potentially by creating a teen-oriented messaging service that gives parents more control over whom their kids can contact.Code inside the main Facebook app points to an unreleased messaging app aimed at young teens called “Talk,” which hasn’t been... Facebook is trying to find more ways to get younger people to use its apps, potentially by...

Uber CEO Travis Kalanick. Photo by Bloomberg.

What Uber’s Next CFO Is Up Against

By Amir Efrati · Jun 1, 2017 7:01am PDT · 1 comment

Uber’s plans to recruit a new chief financial officer come as the ride-hailing company’s financial team grapples with a host of challenges ahead of a possible IPO.Those tests include helping figure out a path to turn a multibillion-dollar loss last year into a profit, lowering per-trip costs, and dealing with standard regulatory... Uber’s plans to recruit a new chief financial officer come as the ride-hailing...

Jared Kushner. Photo by Bloomberg.

Kushner’s Cadre Raising $65M at More Than $800M Value

By Alfred Lee and Serena Saitto · May 31, 2017 6:01pm PDT · 1 comment

Cadre, a New York-based real estate startup partly owned by Jared Kushner, is seeking to raise about $65 million, at a valuation of more than $800 million, according to a corporate filing and a person familiar with the fundraising efforts.The company came under the spotlight earlier this month when the Wall Street Journal reported that Jared... Cadre, a New York-based real estate startup partly owned by Jared Kushner, is seeking to raise...

Employees work at Spotify's offices in Berlin. Photo: Bloomberg

Spotify’s Prospects Hinge on Echoing Netflix’s Success

By Alfred Lee · May 31, 2017 7:01am PDT · 3 comments

Spotify’s stock has leapt to a $13 billion valuation on the secondary market, up from around $8 billion at the end of last year. It reportedly wants to go public at that new price.Whether that price is justified depends on the answer to a question that investors are asking: How much is Spotify like Netflix? There are two ways it could be... Spotify’s stock has leapt to a $13 billion valuation on the secondary market, up from...

Source: SEC Filings

Uber Hiring Outpaces Some Tech Leaders

By Cory Weinberg and Mike Sullivan · May 30, 2017 10:01am PDT · 2 comments

Source: SEC Filings

Uber Hiring Outpaces Some Tech Leaders

By Cory Weinberg and Mike Sullivan · May 30, 2017 10:01am PDT · 2 comments

Over the past year, Uber has added as many or more employees as established heavyweights Apple, Tesla and Facebook did throughout 2016, according to an analysis of hiring trends at large tech firms. The ride-sharing company’s doubling of its workforce to about 12,000 employees means it added more than four times as many people as Snap and... Over the past year, Uber has added as many or more employees as established heavyweights Apple,...

Tencent President Martin Lau. Photo by Bloomberg.

WeChat Deal With Starbucks Points to Cultural Shift at Tencent

By Juro Osawa · May 30, 2017 7:01am PDT · 1 comment

Earlier this year, Tencent’s WeChat messenger started letting users in China send one another virtual Starbucks gift cards. But it took nine months for Tencent to seal the deal, in part because some WeChat product managers were initially reluctant to create a prominent feature just for one corporate brand, according to employees.WeChat... Earlier this year, Tencent’s WeChat messenger started letting users in China send one...

Modest Conversations

Modest Conversations: Building Great Relationships With Kids

By Sam Lessin · May 29, 2017 1:34pm PDT

For this holiday weekend Tod Francis shares some of the research he has done on how you build meaningful relationships with children and other important people in your life. For this holiday weekend Tod Francis shares some of the research he has done on how you build...

The Weekly Digest

The Information You Missed This Week

By The Information Staff · May 27, 2017 8:01am PDT

Happy Memorial Day!Hope you hadn’t hired Sprig to cater your holiday lunch. Happy Memorial Day!Hope you hadn’t hired Sprig to cater your holiday lunch.

The Information’s 411 — Softbank at the Bazaar

By Tom Dotan · May 26, 2017 2:39pm PDT

The Information’s 411 — Softbank at the Bazaar

By Tom Dotan · May 26, 2017 2:39pm PDT

Cory and Tom talk about Snap's growth strategy and what Mark Zuckerberg said at the Harvard commencement. Shai joins the podcast for the first time to go deep on Softbank's big spending. Cory and Tom talk about Snap's growth strategy and what Mark Zuckerberg said at the Harvard...

Photo by Flickr/Merri

On Demand Food Service Sprig To Shut Down

By Reed Albergotti and Tom Dotan · May 26, 2017 9:23am PDT · 2 comments

On-demand meal delivery service Sprig is preparing to shut down, said a person familiar with the matter, and will announce the decision later Friday. The closure of the business is the latest sign of challenges for on-demand delivery services which blossomed a couple of years ago but have run into problems making money.Sprig, which prepared and... On-demand meal delivery service Sprig is preparing to shut down, said a person familiar with the...

Scroll CEO Tony Haile. Art by Matt Vascellaro.

The Trouble With News Bundles

By Tony Haile · May 26, 2017 7:00am PDT · 15 comments

Last week, The Information Editor-in-Chief Jessica Lessin suggested in a column that an aggregated news bundle on the cable model could be a solution to the news industry’s business model woes. An all-access pass could indeed be better for consumers and make for a more elegant web experience. And it isn’t going to happen. Given the... Last week, The Information Editor-in-Chief Jessica Lessin suggested in a column that an...

The office of Airbnb, one of the private tech firms that gets a lot of attention from private tech stock analysts. Photo by Flickr/Open Grid Schedular.

Life as a Private Tech Stock Analyst

By Alfred Lee · May 25, 2017 10:17am PDT · 4 comments

In his last job, stock market analyst Santosh Rao regularly met with executives from the public telecom companies he wrote reports about. In his current job, Mr. Rao can barely even get his phone calls returned.Mr. Rao is one of a small but growing group of private tech research analysts who publish reports about venture-backed companies for... In his last job, stock market analyst Santosh Rao regularly met with executives from the public...

SoftBank Chairman and CEO Masayoshi Son. Photo by Bloomberg.

SoftBank’s $93 Billion Vision Problem

By Shai Oster · May 25, 2017 7:02am PDT · 2 comments

SoftBank Chairman and CEO Masayoshi Son. Photo by Bloomberg.

SoftBank’s $93 Billion Vision Problem

By Shai Oster · May 25, 2017 7:02am PDT · 2 comments

Nearly two decades ago, SoftBank founder Masayoshi Son stunned his peers when he made a $20 million bet on then-unknown Alibaba. Today, his stake in the online marketplace is valued at $90 billion. Fueled by that outsize success, he is taking an even bigger gamble—with much higher risks—as he launches the world’s biggest-ever... Nearly two decades ago, SoftBank founder Masayoshi Son stunned his peers when he made a $20...

Snap CEO Evan Spiegel. Photo by Bloomberg.

Inside Snap’s Growth Struggles

By Tom Dotan · May 24, 2017 7:00am PDT · 6 comments

Last summer, members of Snap’s growth team presented CEO Evan Spiegel and other executives with worrying data showing user growth had slowed sharply. In one week, the company had lost 1 million daily active users, out of its total of around 150 million.The growth team spelled out to Mr. Spiegel a number of likely causes. Among the top... Last summer, members of Snap’s growth team presented CEO Evan Spiegel and other executives...

AWS CEO Andrew Jassy. Photo by Bloomberg.

The Bright Side of AWS’s Slowing Revenue Growth

By Eugene Kim · May 23, 2017 11:13am PDT · 2 comments

When shopping startup Moovweb first launched a decade ago, it used Amazon Web Services, paying by the hour like many startups do. Now, the company pays 40% of its million-dollar annual AWS bill a year in advance—and gets a 30% discount in exchange.Moovweb is one of a growing number of companies committing to use AWS for as long as three... When shopping startup Moovweb first launched a decade ago, it used Amazon Web Services, paying by...

Anthony Levandowski discussing Uber's self-driving car effort last December. Photo by AP.

At Uber, Waymo Lawsuit Brings New Risks

By Amir Efrati · May 23, 2017 7:01am PDT · 4 comments

Shortly after Alphabet’s self-driving car unit Waymo filed a lawsuit in late February alleging Uber stole its trade secrets, Uber CEO Travis Kalanick told employees in a weekly, companywide staff meeting that “we looked at everything” and determined the company did nothing wrong, said two people who heard the remarks. Later, at... Shortly after Alphabet’s self-driving car unit Waymo filed a lawsuit in late February...

A vending machine equipped with batteries for rental. Photo by Laidian.

VCs Flock to China’s Latest Rental Craze: Smartphone Batteries

By Yunan Zhang · May 22, 2017 10:02am PDT · 2 comments

A vending machine equipped with batteries for rental. Photo by Laidian.

VCs Flock to China’s Latest Rental Craze: Smartphone Batteries

By Yunan Zhang · May 22, 2017 10:02am PDT · 2 comments

If you’re caught in a downpour in China, you can rent an umbrella to keep you dry. If you’re looking for a game of pickup basketball, you can rent the ball. And now you can rent batteries to charge your smartphone, ensuring you’re no longer stranded far from home with a dead device. Millions of Chinese are using these services... If you’re caught in a downpour in China, you can rent an umbrella to keep you dry. If...