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

Snapchat CEO Evan Spiegel. Picture by Flickr/TechCrunch.

Snapchat Explores New Scannable Ads

By Tom Dotan and Amir Efrati · Aug 2, 2016 9:06am PDT · 8 comments

Snapchat is working on a new type of ad that would allow people to use their smartphone cameras to unlock special sponsored content in the app. The feature lets people scan an image or barcode on a poster or a website, which later gives them a special deal on a product, according to two people briefed on the company’s ad strategy.The ad... Snapchat is working on a new type of ad that would allow people to use their smartphone cameras...

Art by Sam Lessin.

Modest Proposals

Why the Bonus Culture Will Spread

By Sam Lessin · Aug 2, 2016 7:02am PDT · 3 comments

We are currently living through an explosion of measurement technology. Once only athletes, salespeople and investment bankers could be managed by metrics of their performance. But increasingly everyone is, as technology opens up deeper access to performance data. It makes us all better, but it also clearly leads to greater inequality. That will... We are currently living through an explosion of measurement technology. Once only athletes,...

Facebook COO Sheryl Sandberg. Photo by Bloomberg.

How Facebook Can Keep Gaining Ad Share

By Cory Weinberg · Aug 1, 2016 1:49pm PDT · 1 comment

Last week’s stream of tech earnings news was a reminder of just how much growth rates are diverging between strong and weak. Facebook has cemented itself as a sure bet to win against Twitter, LinkedIn and Yahoo in the fight for digital display ad dollars. Facebook’s not-so-secret weapon? It dominates the fight for... Last week’s stream of tech earnings news was a reminder of just how much growth rates...

Didi founder Cheng Wei. Photo by Didi.

Didi’s Founder Presides Over Unruly Investor Group

By Zara Zhang · Aug 1, 2016 10:53am PDT · 1 comment

Didi founder Cheng Wei. Photo by Didi.

Didi’s Founder Presides Over Unruly Investor Group

By Zara Zhang · Aug 1, 2016 10:53am PDT · 1 comment

If anyone needs supervoting shares to keep control of their company, it looks to be Didi Chuxing founder Cheng Wei.Didi’s purchase of UberChina is just the latest in a series of mergers that Mr. Cheng has undertaken to create a $35 billion ride-sharing giant in China. That string of deals has created a potent mix of investors in the... If anyone needs supervoting shares to keep control of their company, it looks to be Didi Chuxing...

Uber CEO Travis Kalanick at a World Economic Forum meeting in China in late June. Photo by Bloomberg.

Uber Admits Defeat in China, Can Fight Harder Elsewhere

By Amir Efrati and Yunan Zhang · Jul 31, 2016 10:37pm PDT · 6 comments

Uber CEO Travis Kalanick got second place.The transportation giant is to sell its operations in China to bigger rival Didi Chuxing, setting up an unusual structure in which Didi will operate Uber’s brand in the country, according to people briefed on the deal. Uber CEO Travis Kalanick got second place.The transportation giant is to sell its operations in...

The Weekly Digest

The Information You Missed This Week

By The Information Staff · Jul 30, 2016 8:01am PDT

Good Morning!The rich tech firms keep getting richer, judging from the past week’s earnings reports from Alphabet, Amazon and Facebook. And let’s not forget the bankers and lawyers on the mounting number of acquisitions. Good Morning!The rich tech firms keep getting richer, judging from the past week’s earnings...

The Information’s 411 — Camera as a Platform

By Tom Dotan · Jul 29, 2016 3:46pm PDT

Jessica explains why Yahoo can't be turned around, even within Verizon and under Tim Armstrong. Cory talks about why some media companies are disillusioned with live video on Facebook. Tom explains why Snapchat's camera section is its future. Jessica explains why Yahoo can't be turned around, even within Verizon and under Tim...

Hewlett Packard Enterprise CEO Meg Whitman. Photo by Bloomberg.

Private Equity Ponders Hewlett Packard Enterprise Buyout

By Kevin McLaughlin · Jul 29, 2016 10:07am PDT

Hewlett Packard Enterprise CEO Meg Whitman. Photo by Bloomberg.

Private Equity Ponders Hewlett Packard Enterprise Buyout

By Kevin McLaughlin · Jul 29, 2016 10:07am PDT

Several private equity firms including KKR, Apollo Global Management and Carlyle Group are sniffing around Hewlett Packard Enterprise, contemplating a buyout of the firm, said a person who has had talks with representatives of the firms. Such a deal would be worth more than $40 billion.A buyout would allow HPE, currently the world’s... Several private equity firms including KKR, Apollo Global Management and Carlyle Group are...

Meet The Information Reporters—and What to Ask Them

By Jessica E. Lessin · Jul 29, 2016 7:00am PDT

People often ask me what makes The Information stories different from articles in other publications. The answer is simple: our reporters. They are smart, hungry and make hundreds of phone calls a week. And they’re not afraid of our model, which requires them to come up with new stories no one else is writing. This week, I wanted to help... People often ask me what makes The Information stories different from articles in other...

Top Comments of the Week

By The Information Staff · Jul 28, 2016 2:24pm PDT

Here are excerpts of this week’s top comments as selected by our reporters and editors. Here are excerpts of this week’s top comments as selected by our reporters and editors.

Photos by Bloomberg.

How Clinton and Trump Compare on Tech Issues

By Steve Nellis · Jul 28, 2016 12:14pm PDT · 2 comments

When America goes to the polls on Nov. 8, there’s a lot at stake for tech. Whether it’s how to balance issues of data privacy with national security, immigration or the use of contractors, the outcome of the presidential contest could have a big impact on tech firms.To aid you in quickly assessing where the candidates stand on key... When America goes to the polls on Nov. 8, there’s a lot at stake for tech. Whether...

Oracle co-founder Larry Ellison. Photo by Bloomberg.

The Flawed Logic Behind Oracle’s NetSuite Deal

By Steve Nellis · Jul 28, 2016 11:19am PDT

Oracle co-founder Larry Ellison. Photo by Bloomberg.

The Flawed Logic Behind Oracle’s NetSuite Deal

By Steve Nellis · Jul 28, 2016 11:19am PDT

Oracle Corp.’s $9.3 billion bid for cloud financial software provider NetSuite should help boost Oracle’s lagging cloud business. But Oracle is paying a high price, particularly as NetSuite is too small to really move the needle for Oracle. Another big issue: NetSuite plays in a software category—financial management... Oracle Corp.’s $9.3 billion bid for cloud financial software provider NetSuite should help...

Snapchat's Chief Technology Officer Bobby Murphy. Picture by Bloomberg.

Snapchat’s Camera Shows its Future

By Tom Dotan · Jul 28, 2016 7:01am PDT · 2 comments

One of the best ways to understand Snapchat, people at the company like to say, is to think of it as three apps bolted together: messaging, stories (and by extension Discover), and one for the camera. And while messaging and stories have dominated its past, it’s the camera app that will determine Snapchat’s future.As Snapchat eyes... One of the best ways to understand Snapchat, people at the company like to say, is to think of it...

Hewlett Packard Enterprise CEO Meg Whitman. Photo by Bloomberg.

K.C. Choi Leaves Hewlett Packard Enterprise

By Kevin McLaughlin · Jul 27, 2016 2:22pm PDT

Veteran Hewlett Packard technologist K.C. Choi has left the company, a person close to Hewlett Packard Enterprise said. His departure could complicate CEO Meg Whitman’s hopes of promoting a new computing architecture that is central to the revival of the company formed in the break-up of H-P last year.UPDATE: Mr. Choi has joined storage... Veteran Hewlett Packard technologist K.C. Choi has left the company, a person close to Hewlett...

Facebook CEO Mark Zuckerberg talking about Facebook's plans for live video at its F8 developer conference in April. Photo by AP.

Media Companies Struggle To Figure Out Facebook Live

By Cory Weinberg · Jul 27, 2016 7:00am PDT · 3 comments

Fox Sports’ web series @TheBuzzer, blending highlight clips with hijinks like the Cinco de Mayo taco-eating contest, seemed like an ideal format for Facebook Live. It offered a social twist by soliciting instant feedback from viewers. But things got weird, with the Facebook users asking hosts to do increasingly bizarre things like stuff... Fox Sports’ web series @TheBuzzer, blending highlight clips with hijinks like the Cinco de...

Art by Tom Dotan.

Yahoo Deal Shows Relative Value of Advisers

By Martin Peers · Jul 26, 2016 11:59am PDT · 3 comments

Art by Tom Dotan.

Yahoo Deal Shows Relative Value of Advisers

By Martin Peers · Jul 26, 2016 11:59am PDT · 3 comments

If Yahoo’s auction holds any lessons for other tech companies considering selling themselves, it may be this: When it comes to advisers, less is more.A stunning 15 investment banks and law firms were involved with Yahoo’s $4.8 billion sale to Verizon, according to the companies. In contrast, Microsoft’s $26.2 billion purchase... If Yahoo’s auction holds any lessons for other tech companies considering selling...

People trying out Oculus Rift headsets at a demonstration in Tokyo last month. Photo by Bloomberg.

Oculus Gets a Dose of Reality

By Cory Weinberg and Reed Albergotti · Jul 26, 2016 7:01am PDT · 5 comments

Earlier this month Survios released a virtual reality video game, “Raw Data,” that puts users in the shoes of sword-wielding, gun-toting heroes. It shot straight to top of the charts on the video game distribution site Steam. But “Raw Data” isn’t available on the most talked-about virtual reality headset,... Earlier this month Survios released a virtual reality video game, “Raw Data,” that...

SoftBank Group Chairman Masayoshi Son announcing SoftBank's purchase of ARM Holdings this month. Photo by Bloomberg.

Who’s Next in Tech’s Merger Wave

By Alfred Lee and Steve Nellis · Jul 25, 2016 10:01am PDT

As the recent sales of LinkedIn, ARM Holdings, Dollar Shave Club and Yahoo suggest, acquisitions are once again in vogue for bigger companies looking for growth. And venture capitalists are increasingly recommending to founders that they consider selling.At the same time, mutual fund investors in private tech firms are signaling higher... As the recent sales of LinkedIn, ARM Holdings, Dollar Shave Club and Yahoo suggest, acquisitions...

AOL CEO Tim Armstrong. Photo by Bloomberg.

Why Armstrong Really Wanted Yahoo

By Jessica E. Lessin and Tom Dotan · Jul 25, 2016 4:37am PDT · 2 comments

To understand why Tim Armstrong just convinced Verizon to spend $4.83 billion to buy Yahoo's main business, you have to go back to April 2007. Mr. Armstrong, then running North America advertising for Google, drove Google’s purchase of display ad firm DoubleClick, launching the search giant into banner advertising. By every measure it... To understand why Tim Armstrong just convinced Verizon to spend $4.83 billion to buy Yahoo's...

The Information You Missed This Week

By The Information Staff · Jul 23, 2016 8:00am PDT

The Weekly Digest

The Information You Missed This Week

By The Information Staff · Jul 23, 2016 8:00am PDT

Good Morning!Our long national nightmare is almost over: The sale of Yahoo is reportedly imminent. It looks like the one-time internet icon will soon be Tim Armstrong’s problem. In her weekly column, Jessica advised bidders to back out before it’s too late. Good Morning!Our long national nightmare is almost over: The sale of Yahoo is reportedly...