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

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What Temu’s and Shein’s Travails Mean for Snap, Google and Meta

By Martin Peers · Apr 29, 2025 5:00pm PDT

The end of the Temu-Shein era of cheap prices may be hurting digital ad firms just as much as bargain shoppers. Snap on Tuesday said the Trump administration’s closure of the duty-free import loophole—which allowed Temu and Shein to ship cheap stuff from China without paying duties—was affecting its ad business. Google forecast a similar impact... The end of the Temu-Shein era of cheap prices may be hurting digital ad firms just as much as...

Snap CEO Evan Spiegel. Photo via Getty

Creator Economy

Snap ‘Headwinds’ Warning Overshadows Video Progress

By Kaya Yurieff · Apr 29, 2025 3:48pm PDT

Snap is one of the first social media companies to report results, giving investors an early feel for how these advertising-supported businesses are faring. If it’s any guide, the future view was glum, overshadowing gains the company has made with video and subscriptions. The Snapchat parent company said Tuesday it couldn’t provide... Snap is one of the first social media companies to report results, giving investors an early feel...

Eric Vishria, General Partner at Benchmark, at The Information's Financing the AI Revolution. Photo by Alyssa Ringler.

The ‘Unparalleled Capital Implosion’ Worrying VCs

By Cory Weinberg · Apr 29, 2025 3:08pm PDT

My ears perked up Monday when I heard the words “unparalleled capital implosion.” That came from venture capitalist Eric Vishria, who unspooled some of his anxieties about the current artificial intelligence funding boom at our “Financing the AI Revolution” conference. For more than a decade, Vishria has helped VC firm Benchmark navigate... My ears perked up Monday when I heard the words “unparalleled capital implosion.” That came...

Mira Murati. Photo via Getty

Thinking Machines Lab CEO Has Unusual Control in Andreessen-Led Deal

By Stephanie Palazzolo and Natasha Mascarenhas · Apr 29, 2025 1:00pm PDT · 3 comments

Mira Murati. Photo via Getty

Thinking Machines Lab CEO Has Unusual Control in Andreessen-Led Deal

By Stephanie Palazzolo and Natasha Mascarenhas · Apr 29, 2025 1:00pm PDT · 3 comments

It’s common nowadays for founders of hot startups to hold special shares that give them more voting power than most investors. But Mira Murati, a former OpenAI chief technology officer who is now a founder and the CEO of artificial intelligence startup Thinking Machines Lab, may exert an unusual level of control even by those standards. Murati... It’s common nowadays for founders of hot startups to hold special shares that give them more...

Sridhar Ramaswamy. Photo by Getty

Snowflake Sets $100 Million Target in AI Sales Push

By Kevin McLaughlin · Apr 29, 2025 10:46am PDT

Snowflake and other enterprise software firms whose success predates the rise of ChatGPT are trying to recast themselves as artificial intelligence companies. They’ll have to persuade corporate customers to choose their offerings in what has become a very crowded field. The pressure is particularly acute for Snowflake CEO Sridhar Ramaswamy, who... Snowflake and other enterprise software firms whose success predates the rise of ChatGPT are...

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A 220,000-Person Company’s Tactics for Keeping AI Costs Down

By Jon Victor · Apr 29, 2025 10:00am PDT

Businesses looking to expand their internal use of artificial intelligence from a select few testers to a large number of workers are hypersensitive to increased costs. Over the last couple of years, that has meant many of their AI projects have never made it out of the pilot phase.Veolia, a 220,000-person provider of water treatment, waste... Businesses looking to expand their internal use of artificial intelligence from a select few...

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XAI Investors on How The Startup Can Win; Is Reinforcement Learning Over?

By Stephanie Palazzolo · Apr 29, 2025 7:00am PDT · 1 comment

Before we get into today’s column, I’d like to give a big thank you to all our subscribers who joined us at our “Financing the AI Revolution” conference yesterday. It was amazing to get to meet so many of you.One of the most interesting discussions for me came during our panel on how private and public investors are thinking about investing in... Before we get into today’s column, I’d like to give a big thank you to all our subscribers who...

Photos by Alyssa Ringler.

Financing the AI Revolution: The Highlights

By The Information Staff · Apr 29, 2025 6:00am PDT

Photos by Alyssa Ringler.

Financing the AI Revolution

Financing the AI Revolution: The Highlights

By The Information Staff · Apr 29, 2025 6:00am PDT

Investing in artificial intelligence can be a tricky business. It’s the time of “peak ambiguity when it comes to AI,” said Hemant Taneja, CEO of venture capital firm General Catalyst. “None of us really know what the world’s going to look like in some ways.” Investors face uncertainties about which startups endure, which piece of AI technology... Investing in artificial intelligence can be a tricky business. It’s the time of “peak ambiguity...

Art by Clark Miller

Elite Group Chats Are Only Part of the Story

By Nick Wingfield · Apr 28, 2025 5:00pm PDT

Group chats are definitely having a moment. First, there were the headlines about how Pete Hegseth, the U.S. Secretary of Defense, had participated in private Signal discussion groups with Trump administration officials and family members in which he reportedly discussed upcoming U.S. military operations. Then, on Sunday, Ben Smith at Semafor ... Group chats are definitely having a moment. First, there were the headlines about how Pete...

Gavin Baker of Atreides Management and Karin Fronczke of Fidelity Investments. Photo by Alyssa Ringler.

Financing the AI Revolution

Google, xAI and OpenAI Will Be Hard for Startups to Beat, Investors Say

By Aaron Holmes · Apr 28, 2025 2:38pm PDT · 2 comments

A crop of new artificial intelligence startups, including those founded by star ex-OpenAI executives, is trying to convince investors to invest at multibillion-dollar valuations with scant products or revenue to speak of. But representatives from two investors, Fidelity and Atreides Management, say it may be too late for those firms to overcome... A crop of new artificial intelligence startups, including those founded by star ex-OpenAI...

Ryan Kolln, CEO of Appen, speaks onstage during HumanX AI Conference 2025 at Fontainebleau Las Vegas on March 11, 2025 in Las Vegas, Nevada. Image via Getty.

The Data Labeling Company Serving Chinese Model Builders

By Stephanie Palazzolo · Apr 28, 2025 7:00am PDT

It’s no secret that the success of today’s large language models wouldn’t be possible without the armies of humans creating the data, like solved math or coding problems, for the AI to be trained on. But as important as data labeling companies—such as Scale AI, Turing and Invisible—have been to the AI sector, they’re not absolutely crucial.... It’s no secret that the success of today’s large language models wouldn’t be possible without the...

Inside Palantir’s Mission-Driven Culture

By Jon Victor · Apr 28, 2025 6:00am PDT · 2 comments

Inside Palantir’s Mission-Driven Culture

By Jon Victor · Apr 28, 2025 6:00am PDT · 2 comments

Most companies valued at more than $200 billion have imposed a high degree of structure on their organizations as they have grown. That’s not the case at Palantir Technologies. Experienced staff get a say in which projects they work on, according to five people who have worked at the data analytics firm. Performance reviews don’t always occur at... Most companies valued at more than $200 billion have imposed a high degree of structure on their...

Ford's electric F-150 Lightning. Photo: Mario Tama/Getty

The Electric: With a Big Battery Claim, Ford Tries to Compete With the Chinese

By Steve LeVine · Apr 28, 2025 4:30am PDT

Ford has thrown its hat into the high-stakes global contest to shake up the electric vehicle industry, unveiling a battery that in just a few years’ time—if it can be scaled up cheaply—would challenge the primacy of nickel-based batteries that power most EVs in the West. Ford has thrown its hat into the high-stakes global contest to shake up the electric vehicle...

Art by Clark Miller; images via Getty.

Andreessen Horowitz Comes to Deel’s Defense in Spy Battle

By Cory Weinberg and Michael Roddan · Apr 26, 2025 8:00am PDT · 4 comments

Venture capital firm Andreessen Horowitz has landed in the middle of a nasty Silicon Valley spy scandal between one of its most successful startups and a company run by a chief executive the VC firm pushed out nearly a decade ago from the company he founded. The VC firm is playing a central role in the fight between rival human resources... Venture capital firm Andreessen Horowitz has landed in the middle of a nasty Silicon Valley spy...

Clark Miller

When Quitting is Best

By Abram Brown · Apr 26, 2025 7:00am PDT

Welcome, Weekenders! In this newsletter:• The Big Read: Netflix’s eager new friend? The NFL• The Top 5: Tech’s favorite microconferences and private summits • Plus, our Recommendations: an artworld mystery involving Dali, Basquiat and Haring; real talk about talking better; and a pair of detectives with unusual charmLet’s spend a moment to... Welcome, Weekenders! In this newsletter:• The Big Read: Netflix’s eager new friend? The NFL• The...

Clark Miller

Tech’s Favorite Microconferences and Private Summits

By Abram Brown and Sri Muppidi · Apr 26, 2025 6:00am PDT · 10 comments

Clark Miller

Tech’s Favorite Microconferences and Private Summits

By Abram Brown and Sri Muppidi · Apr 26, 2025 6:00am PDT · 10 comments

Nearly anyone who’s anyone agrees: Bigger isn’t better—when it comes to conferences and networking. Indeed, the tech, media and finance elite have increasingly come to prefer an intimate gathering over attending anything giant and sponsored to death. Web Summit, Collision, South by Southwest and pretty much any event thrown by a media... Nearly anyone who’s anyone agrees: Bigger isn’t better—when it comes to conferences and...

Photo via Getty

DoorDash and Deliveroo on Brink of Marriage

By Martin Peers · Apr 25, 2025 3:45pm PDT

We could have a big deal coming soon. DoorDash looks likely to buy UK-based meal and grocery delivery firm Deliveroo for about $3.6 billion in cash, judging by a statement from Deliveroo on Friday that was also posted by DoorDash on its website. The U.S. delivery firm made an offer at that price earlier this month and Deliveroo said Friday it “... We could have a big deal coming soon. DoorDash looks likely to buy UK-based meal and grocery...

Yichao "Peak" Ji, co-founder and Chief Scientist at Manus AI. Photo via YouTube/Manus AI.

Startup Behind Manus AI Agent Navigates U.S.-China Tensions After Benchmark Deal

By Juro Osawa · Apr 25, 2025 3:19pm PDT

Leaders of the Chinese startup behind the hit artificial intelligence agent Manus have discussed setting up new headquarters outside China, according to two people with knowledge of the discussions. The discussions signal that the startup doesn’t want its ability to do business in the U.S. to be constrained by its Chinese roots. The startup,... Leaders of the Chinese startup behind the hit artificial intelligence agent Manus have discussed...

Google and Meta on Trial, Tesla, AI and Media

By Jessica E. Lessin · Apr 25, 2025 12:29pm PDT

On this week’s episode: The Google and Meta antitrust cases shaking up the ads economy, Tesla’s bad quarter, the protein bubble and more. Apple Spotify On this week’s episode: The Google and Meta antitrust cases shaking up the ads economy, Tesla’s...

Art by Clark Miller.

The NFL Loves Netflix. But Does Netflix Want to Love the NFL?

By Sahil Patel · Apr 25, 2025 9:03am PDT

Art by Clark Miller.

The NFL Loves Netflix. But Does Netflix Want to Love the NFL?

By Sahil Patel · Apr 25, 2025 9:03am PDT

A couple weeks ago, a steady stream of media and sports heavyweights could be found at the white-marbled Breakers hotel in Palm Beach, Fla., where the NFL was hosting its annual owners’ meetings. The conclave is a big deal for the league—an occasion for it to hash out its multibillion dollar business deals and discuss what the future may... A couple weeks ago, a steady stream of media and sports heavyweights could be found at the...