The Briefing by Martin Peers, Jessica Lessin and the team at The Information

Five times/week

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.

By providing your email, you agree to The Information’s Privacy Policy

Recent Editions

The Weekly Digest

The Information You Missed This Week

By The Information Staff · Jun 24, 2017 8:01am PDT · 1 comment

Good Morning!There can only be one explanation for the volume of leaks coming out of Uber: employees misunderstood the company’s decision to allow tips. Good Morning!There can only be one explanation for the volume of leaks coming out of Uber:...

Uber's Chief Technology Officer Thuan Pham, center, with fellow engineers.

How Uber’s Top Engineer Saved His Job

By Amir Efrati · Jun 23, 2017 5:41pm PDT · 2 comments

As Uber struggles to rebuild its management team and board, its leaders are snuffing out internal fires too. One of the biggest: turmoil within its 2,000-person engineering team, the center of Susan Fowler’s now famous sexual harassment and bullying allegations.In the hotseat is CTO Thuan Pham, who Ms. Fowler said failed to act on her... As Uber struggles to rebuild its management team and board, its leaders are snuffing out internal...

The Information’s 411 — Where Does Uber Go from Here?

By Tom Dotan · Jun 23, 2017 2:13pm PDT

Amir explains how Travis' flaws as a manager led to his undoing. Tom talks about Snapchat's latest map feature. Amir explains how Travis' flaws as a manager led to his undoing. Tom talks about...

Justin Caldbeck. Photo by Peter DaSilva.

Caldbeck Takes Leave of Absence From Binary

By Reed Albergotti · Jun 23, 2017 1:17pm PDT · 4 comments

Justin Caldbeck. Photo by Peter DaSilva.

Caldbeck Takes Leave of Absence From Binary

By Reed Albergotti · Jun 23, 2017 1:17pm PDT · 4 comments

Venture capitalist Justin Caldbeck is taking an indefinite leave of absence from his firm, Binary Capital, a spokesman for the firm said. The disclosure comes a day after The Information revealed that six women alleged he made inappropriate and unwanted advances to them.In a statement, Mr. Caldbeck said “The past 24 hours have been the... Venture capitalist Justin Caldbeck is taking an indefinite leave of absence from his firm, Binary...

Uber's former CEO Travis Kalanick. Photo by Bloomberg.

One More Lesson From the Downfall of Kalanick

By Jessica E. Lessin · Jun 23, 2017 7:02am PDT · 8 comments

One of the lessons some in the media have been quick to draw from the downfall of Travis Kalanick is the peril of unchecked power bestowed on startup founders. And, thus, they prescribe solutions like curbing founder voting rights and stepped up board involvement (which I have long advocated for a number of reasons.) But the argument that... One of the lessons some in the media have been quick to draw from the downfall of Travis Kalanick...

Former Uber CEO Travis Kalanick

Travis Kalanick’s Power Dented but Not Gone

By Amir Efrati · Jun 22, 2017 7:39pm PDT

Uber co-founder Travis Kalanick, who quit as CEO on Tuesday, has told at least one person close to Uber’s board that he is planning to be directly involved in the search for his replacement. His prerequisites for the job, not surprisingly, resemble an executive in Mr. Kalanick’s own image. That could complicate the board’s CEO... Uber co-founder Travis Kalanick, who quit as CEO on Tuesday, has told at least one person close...

Binary Capital partner Justin Caldbeck. Photo by Peter DaSilva.

Silicon Valley Women Tell of VC’s Unwanted Advances

By Reed Albergotti · Jun 22, 2017 7:01am PDT · 9 comments

Half a dozen women working in the tech industry say they have faced unwanted and inappropriate advances from a well-connected Silicon Valley venture capitalist while discussing business. The allegations have come to light as the technology industry grapples with criticism over long-standing gender inequality and bias.The women say they faced... Half a dozen women working in the tech industry say they have faced unwanted and inappropriate...

Uber board director and shareholder Bill Gurley. Photo by Bloomberg.

Why Uber’s Investors Ousted Travis Kalanick

By Alfred Lee and Amir Efrati · Jun 21, 2017 10:54am PDT · 8 comments

Uber board director and shareholder Bill Gurley. Photo by Bloomberg.

Why Uber’s Investors Ousted Travis Kalanick

By Alfred Lee and Amir Efrati · Jun 21, 2017 10:54am PDT · 8 comments

The Uber power struggle that culminated in the resignation of CEO Travis Kalanick on Tuesday night was largely motivated by shareholders’ concerns that Mr. Kalanick wouldn’t be able to hire a “CEO-caliber” executive as chief operating officer who would stabilize the company and keep Mr. Kalanick in check, according to a... The Uber power struggle that culminated in the resignation of CEO Travis Kalanick on Tuesday...

Traders on the floor of the New York Stock Exchange when Snap went public in March. Photo by Bloomberg.

Pace of Tech IPOs Remains Muted Despite Strong Market

By Serena Saitto · Jun 21, 2017 7:02am PDT

The year started well for the U.S. market of technology initial public offerings. Unicorns like Snap and Cloudera went public with a pop. Stock indexes soared. Now, though, tech bankers and investors say that 2017 won’t be the boom year they expected it to be. But they are still hopeful things will turn around in coming months. “This... The year started well for the U.S. market of technology initial public offerings. Unicorns like...

Travis Kalanick. Photo by Bloomberg.

Uber’s Kalanick Out

By Amir Efrati · Jun 20, 2017 10:47pm PDT · 17 comments

Uber co-founder Travis Kalanick resigned as CEO Tuesday night after some of the company’s investors demanded in a private letter that he step aside after a multitude of controversies bogged down the company for months, according to a person briefed on the situation.The surprising twist comes a week after Mr. Kalanick said he would take a... Uber co-founder Travis Kalanick resigned as CEO Tuesday night after some of the company’s...

*1st generation Amazon Dot sold out July-August 2016; Source: Slice Intelligence

What Apple’s HomePod Is Up Against

By Mike Sullivan and Eugene Kim · Jun 20, 2017 10:01am PDT · 16 comments

Google has so far failed to make a dent in Amazon’s stranglehold on the voice-activated home speaker market, new data show. It highlights the challenge facing Apple, which is pricing its forthcoming HomePod devices well above similar devices.The data show that Amazon has done best with the cheapest version of its speaker, the $49 Dot.... Google has so far failed to make a dent in Amazon’s stranglehold on the voice-activated...

Grab CEO Anthony Tan. Photo by Bloomberg.

Uber’s Asian Rival Grab Speeds Up Expansion

By Juro Osawa and Shai Oster · Jun 20, 2017 7:01am PDT

Grab CEO Anthony Tan. Photo by Bloomberg.

The Big Interview

Uber’s Asian Rival Grab Speeds Up Expansion

By Juro Osawa and Shai Oster · Jun 20, 2017 7:01am PDT

While Uber struggles to cope with its management crisis, one of its biggest Asian competitors is embarking on an acquisition and hiring spree to expand its reach and market share. Singapore-based startup Grab, whose backers include Japan’s SoftBank and Chinese ride-hailing giant Didi Chuxing, is looking to buy more companies and... While Uber struggles to cope with its management crisis, one of its biggest Asian competitors is...

Los Angeles Chargers first-round draft pick Mike Williams records video for Snapchat in April. Photo by AP.

Snap Eyeing Maps in Battle for Location

By Tom Dotan · Jun 19, 2017 3:25pm PDT · 1 comment

The latest mission in social media isn’t just about connecting you to your friends. It’s about connecting you to people nearby, showing you what they are seeing.Snap is expected to release a feature along those lines in the coming weeks, said a person familiar with the matter. The company has been working on a function that lets... The latest mission in social media isn’t just about connecting you to your friends....

Nvidia CEO Jensen Huang. Photo by Bloomberg.

No Longer the Underdog, Nvidia Now Has a Lot to Prove

By Kevin McLaughlin · Jun 19, 2017 7:01am PDT · 1 comment

In the early years of graphics chipmaker Nvidia, when it was struggling to survive, CEO and co-founder Jensen Huang liked to remind his staff how little money it had in the bank and how quickly the business could shut, a former staffer says. It was a way to keep employees focused.Nowadays, Mr. Huang’s exhortations aren’t necessary.... In the early years of graphics chipmaker Nvidia, when it was struggling to survive, CEO and...

The Weekly Digest

The Information You Missed This Week

By The Information Staff · Jun 17, 2017 8:00am PDT

Good Morning!Jeff Bezos asked for philanthropic ideas earlier this week. Who knew Whole Foods was a charity case! Good Morning!Jeff Bezos asked for philanthropic ideas earlier this week. Who knew Whole Foods was...

The Information’s 411 — Often Imitated, Never Duplicated

By Tom Dotan · Jun 16, 2017 1:59pm PDT

The Information’s 411 — Often Imitated, Never Duplicated

By Tom Dotan · Jun 16, 2017 1:59pm PDT

Cory talks about Airbnb's customer service cost cutting. Also we play a segment of our subscriber conference call about Uber's culture crisis, led by Jessica and Amir. Cory talks about Airbnb's customer service cost cutting. Also we play a segment of our...

Jiang Feng, who goes by the online handle Zhijian, on Zhanqi TV's Werewolf Program Lying Man. Photo by Zhanqi TV.

China’s Biggest Gaming ‘Whales’ Are Werewolves

By Shen Xinmei · Jun 16, 2017 7:00am PDT

Jiang Feng is giving up a promising career as an engineer to go hunting for werewolves. As it turns out, being a celebrity monster killer in China’s latest mobile gaming craze pays a lot more than regular work. Mr. Jiang spends up to four hours a day online as a professional player of “Werewolf”. Originally developed as a... Jiang Feng is giving up a promising career as an engineer to go hunting for werewolves. As it...

Angry Birds toys in display in Finland. Photo by Bloomberg

Tencent Explores Acquisition of Angry Birds Maker Rovio

By Serena Saitto and Juro Osawa · Jun 15, 2017 10:53am PDT · 1 comment

China’s Tencent is pursuing an acquisition of Rovio Entertainment, the Finnish maker of the Angry Birds game, according to people briefed on the situation. Such a deal would consolidate Tencent’s stranglehold on the gaming business.Tencent is among several companies to approach Rovio about a possible purchase, one of the people said.... China’s Tencent is pursuing an acquisition of Rovio Entertainment, the Finnish maker of the...

Airbnb CEO Brian Chesky at an Economic Club of New York luncheon in March. Photo by Bloomberg.

How Airbnb Put a Lid on Customer Service Costs

By Cory Weinberg · Jun 15, 2017 7:01am PDT · 11 comments

Airbnb CEO Brian Chesky got some advice from Bill Gates two years ago. To be “truly great,” Mr. Gates told the Airbnb chief during a walk at the annual Sun Valley conference, the vacation rental site needed to improve its customer service, Mr. Chesky told employees in an email later.“What struck me was how simple and obvious... Airbnb CEO Brian Chesky got some advice from Bill Gates two years ago. To be “truly...

Alipay and Tenpay together hold 91% of the online payments market in China. Photo: Bloomberg

China Tightens Oversight of Online Finance

By Shai Oster and Shen Xinmei · Jun 14, 2017 7:01am PDT

Alipay and Tenpay together hold 91% of the online payments market in China. Photo: Bloomberg

China Tightens Oversight of Online Finance

By Shai Oster and Shen Xinmei · Jun 14, 2017 7:01am PDT

China is tightening regulatory oversight of its booming online finance and payments industry as it moves to stop money laundering and rein in loosely regulated financial products sold online. A string of new rules will give the central bank more control over transactions of internet payment platforms and could force firms including... China is tightening regulatory oversight of its booming online finance and payments industry as...