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

Shiva Rajaraman. Photo by Shiva Rajaraman.

WeWork Hires Apple Executive to Oversee Products

By Alfred Lee · Aug 17, 2017 6:01am PDT · 2 comments

WeWork has hired Shiva Rajaraman, a prominent tech executive who most recently served a short stint at Apple, as chief product officer. The hiring is aimed at boosting WeWork’s efforts to improve and expand its digital products.WeWork wants to add functions to the app that its tenants use for everything from job and event postings to... WeWork has hired Shiva Rajaraman, a prominent tech executive who most recently served a short...

Mark Cuban. Photo by Bloomberg.

Cuban Wants to Buy Back Broadcast.com Name for New Chat Venture

By Kevin McLaughlin · Aug 16, 2017 3:10pm PDT · 6 comments

Mark Cuban has taken steps to buy back the name of the firm that made him rich, Broadcast.com, so he can use it in his latest business venture, said a person familiar Mr. Cuban’s plans.The entrepreneur wants to build a Twitter-like conversational platform for people to use cryptocurrency tokens to pay to talk with public figures and other... Mark Cuban has taken steps to buy back the name of the firm that made him rich, Broadcast.com, so...

Source: Second Measure

Where Lyft Gained on Uber—and Where It Didn’t

By Amir Efrati and Mike Sullivan · Aug 16, 2017 7:01am PDT

Lyft’s share of the ride-hailing market has hit record levels in nearly 30 major U.S. cities in the past month, by dollars spent, according to new data. In the top 10 markets, Lyft’s highest share is 39.5% in San Francisco, and 33.5% in Los Angeles, according to Second Measure, which tracks credit card transactions.Overall, Lyft has... Lyft’s share of the ride-hailing market has hit record levels in nearly 30 major U.S....

Caption: Clockwise from top left: Jeremy Allaire, Brad Garlinghouse, Albert Wenger, Barry Silbert, Brian Armstrong, Fred Wilson, Olaf Carson-Wee, Tim Draper

Cryptocurrency’s Movers and Shakers

By Jon Victor · Aug 15, 2017 10:00am PDT · 11 comments

Caption: Clockwise from top left: Jeremy Allaire, Brad Garlinghouse, Albert Wenger, Barry Silbert, Brian Armstrong, Fred Wilson, Olaf Carson-Wee, Tim Draper

Cryptocurrency’s Movers and Shakers

By Jon Victor · Aug 15, 2017 10:00am PDT · 11 comments

Who are the most influential people in cryptocurrency? Which startups or platforms are poised to change the fast-growing marketplace over the next year? To help our readers get a lay of the land in this often-opaque sector, we have put together profiles of individuals who have emerged as prominent figures in the digital currency arena. While our... Who are the most influential people in cryptocurrency? Which startups or platforms are poised to...

Marvin Kaplan and William Emanuel, President Trump's two nominees to the National Labor Relations Board, at the Senate hearing considering their nomination. Photo by AP.

Damore Faces Long Odds in Challenging Google on Firing

By Reed Albergotti · Aug 15, 2017 7:00am PDT · 1 comment

Former Google software engineer James Damore has become a favorite of conservative voices on the internet in the past week, since he was fired for writing a memo that blamed in part biological differences for women’s underrepresentation in software engineering. But his chances of winning a labor complaint and getting reinstated are clouded... Former Google software engineer James Damore has become a favorite of conservative voices on the...

Until it suspended operations, parking app Luxe let customers order a valet to pick up and park their cars in San Francisco and a few other cities. Photo by Mike Sullivan

Volvo in Talks to Acquire Luxe Assets

By Amir Efrati and Jessica E. Lessin · Aug 14, 2017 12:24pm PDT · 3 comments

Volvo, the Chinese-owned car brand, has been in talks to acquire the assets and intellectual property of Luxe, the recently suspended on-demand parking valet app, according to two people with knowledge of the pending deal.The purchase price and the components of the proposed deal couldn’t be learned. Luxe had a private valuation of more... Volvo, the Chinese-owned car brand, has been in talks to acquire the assets and intellectual...

Interactive by Mike Sullivan

The People Who Matter at Lyft

By Amir Efrati · Aug 14, 2017 7:02am PDT

Employees at Lyft have watched with glee in recent months as rival Uber suffers from an endless series of dramas. Lyft’s business, meanwhile, has moved in the right direction. The company’s market share has inched up versus Uber in several major cities, while its cost of acquiring new customers has fallen. An IPO is expected as soon... Employees at Lyft have watched with glee in recent months as rival Uber suffers from an endless...

The Information You Missed This Week

By The Information Staff · Aug 12, 2017 8:02am PDT

The Weekly Digest

The Information You Missed This Week

By The Information Staff · Aug 12, 2017 8:02am PDT

Good Morning!HBO has the perfect sequel to “Game of Thrones”: Inside Uber’s Boardroom. Who knows who’ll have his head cut off next week? Good Morning!HBO has the perfect sequel to “Game of Thrones”: Inside Uber’s...

The Information’s 411 — Trouble in the Nap Pods

By Cory Weinberg · Aug 11, 2017 1:28pm PDT

Cory talks to Serena and Reed about the two biggest dramas of the week in Silicon Valley: Benchmark vs. Kalanick and Google's culture war. Cory talks to Serena and Reed about the two biggest dramas of the week in Silicon Valley:...

Google's campus. Photo by Flickr/Fotinakis.

The Problem With Former Googler’s Anti-Diversity Memo

By Jessica E. Lessin · Aug 11, 2017 7:01am PDT · 19 comments

I have many thoughts about Benchmark’s surprise lawsuit against former Uber CEO Travis Kalanick and what it says about the perilous state of governance at mega-private tech companies. But for now, I’m going to leave it at this: If there was ever any doubt about whom VCs work for, the lawsuit should clear it up. It’s their LPs,... I have many thoughts about Benchmark’s surprise lawsuit against former Uber CEO Travis...

Source: Court Filings. Art by Mike Sullivan.

Kalanick Believes He Still Has Right to Appoint New Uber Directors

By Amir Efrati, Jessica E. Lessin and Serena Saitto · Aug 10, 2017 3:51pm PDT · 4 comments

Former Uber CEO Travis Kalanick plans to dispute a claim by Benchmark Capital in a lawsuit filed Thursday that he agreed in June to give up the right to unilaterally name two new directors to the board, according to a person familiar with the situation. And he may soon try and name directors to the board without the approval of existing... Former Uber CEO Travis Kalanick plans to dispute a claim by Benchmark Capital in a lawsuit filed...

Source: The Information

Subscribers Say Voluntary Steps Alone Won’t Stop Sexism in Tech

By Wendy Pollack and Mike Sullivan · Aug 10, 2017 11:42am PDT

Source: The Information

Subscriber Survey

Subscribers Say Voluntary Steps Alone Won’t Stop Sexism in Tech

By Wendy Pollack and Mike Sullivan · Aug 10, 2017 11:42am PDT

Gender bias and harassment are so pervasive in Silicon Valley that voluntary measures wouldn’t sufficiently address the problem, said more than three-fourths of respondents to The Information’s latest subscriber survey. An even larger share of respondents, 83%, said that the technology industry’s culture needs to change to... Gender bias and harassment are so pervasive in Silicon Valley that voluntary measures...

Samsung Chief Strategy Officer Young Sohn. Photo by Bloomberg.

The Big Interview

How Samsung Aims to Catch Up in Car Tech

By Amir Efrati · Aug 10, 2017 7:02am PDT · 1 comment

As Samsung Electronics ramps up a belated move into the self-driving car market, initially it is taking aim at the driver assistance technology arena dominated by Intel’s Mobileye—products like collision avoidance that are already in high-end cars, said Young Sohn, Samsung’s chief strategy officer, in an exclusive interview.... As Samsung Electronics ramps up a belated move into the self-driving car market, initially it is...

Illustration by Josh Brill

Bitcoin Split Highlights Complexities of Cryptocurrency Market

By Jon Victor · Aug 9, 2017 10:10am PDT · 3 comments

Last week, the Bitcoin network split, creating a new currency: Bitcoin Cash. The split was the result of years of heated debate in the Bitcoin community about how to improve the network’s ability to scale. While the developments affect anyone who holds Bitcoin, the issues are often esoteric and difficult for those outside of the community... Last week, the Bitcoin network split, creating a new currency: Bitcoin Cash. The split was the...

Redfin CEO Glenn Kelman. Photo by Bloomberg

Redfin’s Strong Debut Soothes Nerves, for Now, in Real Estate Tech

By Cory Weinberg · Aug 9, 2017 7:01am PDT · 2 comments

While post-IPO stock dives from Snap and Blue Apron have alarmed some private tech companies, startups that help people buy homes are pinning hopes on the positive debut late last month of Redfin. The company, a web-based brokerage, on Tuesday closed up 70% from its initial public offering price. Some investors say it isn’t clear that... While post-IPO stock dives from Snap and Blue Apron have alarmed some private tech companies,...

Earnest co-founder and CEO Louis Beryl. Photo by Bloomberg.

Online Lender Earnest Seeks to Raise $50 Million or Find Buyer

By Serena Saitto · Aug 8, 2017 10:49am PDT · 1 comment

Earnest co-founder and CEO Louis Beryl. Photo by Bloomberg.

Online Lender Earnest Seeks to Raise $50 Million or Find Buyer

By Serena Saitto · Aug 8, 2017 10:49am PDT · 1 comment

Earnest, the online lending startup, is seeking to raise $50 million in new equity as it simultaneously looks for a buyer, according to people familiar with the situation.The San Francisco-based company hired Barclays as an adviser to pursue the so-called “dual-track” process, the people said. One of the people confirmed a Bloomberg... Earnest, the online lending startup, is seeking to raise $50 million in new equity as it...

Snap's Evan Spiegel, Google's Sundar Pichai and Facebook's Mark Zuckerberg. Photos by Flickr/TechCrunch; Bloomberg.

Snap’s Path Forward

By Tom Dotan · Aug 8, 2017 7:01am PDT · 6 comments

Snap’s second-quarter earnings report on Thursday is shaping up to be a pivotal moment for the young company. Snap stock has plunged in recent weeks as restrictions on early shareholders selling lapsed. The big question this week is whether Snap will show any improvement in its slow user growth or evidence that it is driving... Snap’s second-quarter earnings report on Thursday is shaping up to be a pivotal moment for...

Chart by Mike Sullivan. Source: Moody's.

Netflix Carries Outsize Debt to Fund Original Content

By Martin Peers · Aug 7, 2017 3:37pm PDT · 5 comments

Netflix is carrying twice as much debt, relative to its reported profits, as other major media companies, according to credit ratings agency Moody’s. The figures highlight the financial risk the streaming service is taking as it spends tons of money to create original films and TV shows.Netflix has been borrowing money because it is... Netflix is carrying twice as much debt, relative to its reported profits, as other major media...

Google Engineering Fellow Geoff Hinton and Amazon's director of machine learning, Alex Smola. Photos by Geoff Hinton and Alex Smola

To Find AI Engineers, Google and Facebook Hire Their Professors

By Kevin McLaughlin · Aug 7, 2017 12:02pm PDT · 5 comments

For several years, Google, Facebook and Microsoft have been raiding the ranks of academia for artificial intelligence talent. Their idea is not just to grab an expert in the highly specialized field. It’s also to create a pipeline of AI talent coming out of universities—the thinking is that hiring a professor will make it easier to... For several years, Google, Facebook and Microsoft have been raiding the ranks of academia for...

Art by Matt Vascellaro

The Information’s Next Free Agents

By The Information Staff · Aug 7, 2017 7:01am PDT · 3 comments

Art by Matt Vascellaro

The Information’s Next Free Agents

By The Information Staff · Aug 7, 2017 7:01am PDT · 3 comments

Our newest installment of Free Agents, a look at prominent tech and media professionals between full-time roles, includes executives who were forced to leave high-profile leadership roles as well as one who stepped away voluntarily to take a work sabbatical and travel. The list features an executive who successfully rebooted a struggling fintech... Our newest installment of Free Agents, a look at prominent tech and media professionals between...