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 Weekly Digest

The Information You Missed This Week

By The Information Staff · Jan 14, 2017 8:01am PST

Good Morning!This digest was contained in a dossier circulating among the intelligence community for several weeks. We strongly believe releasing its contents are in the public interest. Good Morning!This digest was contained in a dossier circulating among the intelligence community...

The Information’s 411 — On the Contrary

By Tom Dotan · Jan 13, 2017 3:29pm PST

Cory discusses Peter Thiel's contrarianism. Amir and Tom talk about Lyft's losses, Washio's folly and the future of on- demand companies. Cory discusses Peter Thiel's contrarianism. Amir and Tom talk about Lyft's losses,...

President-elect Trump with Peter Thiel. Photo by Bloomberg.

(Another) Letter to Peter Thiel

By Jessica E. Lessin and Tom Dotan · Jan 13, 2017 7:01am PST · 9 comments

We read your interview with Maureen Dowd in the New York Times. And we think it was a stunning example of what worries us about your newfound influence in government: a contrarian ethos gone too far. Never missing a moment to ding Silicon Valley for its “group think,” you answered a question about the infamous Billy Bush sex tape by... We read your interview with Maureen Dowd in the New York Times. And we think it was a stunning...

Lyft co-founder and president John Zimmer. Photo by Bloomberg.

Lyft’s 2016 Financials Show Business Gains

By Amir Efrati · Jan 12, 2017 1:26pm PST · 2 comments

Lyft co-founder and president John Zimmer. Photo by Bloomberg.

Lyft’s 2016 Financials Show Business Gains

By Amir Efrati · Jan 12, 2017 1:26pm PST · 2 comments

Lyft, the ride-hailing app that’s a distant No. 2 to Uber in the U.S., lost about $600 million last year after generating $700 million in revenue, according to data reviewed by The Information and people with knowledge of the company’s finances.Despite the size of the loss, the 2016 results were a big improvement on the previous year... Lyft, the ride-hailing app that’s a distant No. 2 to Uber in the U.S., lost about $600...

Art by Matt Vascellaro.

Billionaire’s Grandson Now a Private Tech Broker

By Alfred Lee · Jan 12, 2017 7:01am PST · 1 comment

When Zenefits was raising its series C round early in 2015, one of the investors invited to participate was Los Angeles-based Alex Davis and his firm Disruptive Technology Advisers. Investors can take months before pulling the trigger on such a deal. But Mr. Davis took just 48 hours after meeting with Zenefits management to deliver cash on... When Zenefits was raising its series C round early in 2015, one of the investors invited to...

AWS' stand at an exhibition in Hangzhou in China in 2015. Photo by AP.

Amazon, Microsoft Face Tough New Limits on China Cloud Market

By Shai Oster and Kevin McLaughlin · Jan 11, 2017 7:00am PST · 2 comments

Amazon Web Services and Microsoft’s cloud business face tough new restrictions on their business in China, drastically limiting their roles in their Chinese operations, as a result of proposed new Chinese government rules, lawyers and service providers say.Draft rules issued by the government in late November, but which have received... Amazon Web Services and Microsoft’s cloud business face tough new restrictions on their...

Source: CEB

Google’s Relentless AI Appetite

By Kevin McLaughlin and Mike Sullivan · Jan 10, 2017 11:30am PST · 1 comment

Alphabet is seen as the tech industry’s top destination for artificial intelligence engineers and scientists. But Alphabet also has been more aggressive in acquiring AI startups than other tech firms. Its Google unit bought nine between January 2014 and the end of November 2016, nearly twice as many as the second-most active firm, Apple.... Alphabet is seen as the tech industry’s top destination for artificial intelligence...

Nvidia CEO Jen-Hsun Huang (right) and Sajjad Khan, VP of digital vehicle at Mercedes, announce the companies’ partnership during CES. Photo by Daimler.

CES Proves Carmakers Still Confused About Autonomous

By Amir Efrati · Jan 10, 2017 7:00am PST · 4 comments

Nvidia CEO Jen-Hsun Huang (right) and Sajjad Khan, VP of digital vehicle at Mercedes, announce the companies’ partnership during CES. Photo by Daimler.

CES Proves Carmakers Still Confused About Autonomous

By Amir Efrati · Jan 10, 2017 7:00am PST · 4 comments

LAS VEGAS—At the Consumer Electronics Show last week, one thing became clear about car companies and autonomous driving: None of them know if they’re on the right road. Take Mercedes-Benz owner Daimler. It is viewed by autonomous car software practitioners as one of the few car companies with a legitimate in-house autonomous program.... LAS VEGAS—At the Consumer Electronics Show last week, one thing became clear about car...

Art by Matt Vascellaro.

Q&A

How Google Ventures Is Thinking About Biotech

By Fred Vogelstein · Jan 9, 2017 10:00am PST

The high-tech and biotech industries have historically followed different paths. As Moore’s Law made everything in high-tech cheaper, innovation in biotech seemed to make drugs and devices more expensive. That’s changing fast, thanks to the collapsing price of gene sequencing. Biotech companies are now scrambling to analyze and... The high-tech and biotech industries have historically followed different paths. As Moore’s...

Art by Matt Vascellaro

Washio’s Tumble and the Decline of On-Demand

By Tom Dotan · Jan 9, 2017 7:00am PST · 9 comments

Of all the on-demand businesses that swept through tech in the past couple of years, few were as hyped and strange as laundry. At the center of that spin cycle was Washio, a Los Angeles startup that promised to be an “Uber for Laundry.” Customers could use an app to order their dirty laundry picked up and returned clean the next... Of all the on-demand businesses that swept through tech in the past couple of years, few were as...

The Weekly Digest

The Information You Missed This Week

By The Information Staff · Jan 7, 2017 8:02am PST

Good Morning!If you’re reading this at CES, condolences. Good Morning!If you’re reading this at CES, condolences.

The Information’s 411 — Choir Preaching

By Tom Dotan · Jan 6, 2017 1:28pm PST

The Information’s 411 — Choir Preaching

By Tom Dotan · Jan 6, 2017 1:28pm PST

Reed gives his thoughts so far from CES. Jessica explains why some in tech say they've lost faith in the ad business—but she argues they haven't embraced the obvious solution. Reed gives his thoughts so far from CES. Jessica explains why some in tech say they've lost...

Medium CEO Ev Williams. Photo by Bloomberg.

What Everyone Is Missing About Media Business Models

By Jessica E. Lessin · Jan 6, 2017 7:01am PST · 26 comments

Oh, how the winds have changed for ad-supported media. Over the past year, it’s become decidedly trendy to praise non-advertising business models. This week Ev Williams, a longtime advertising adherent, called online ads a “broken system.” Fred Wilson, a venture capitalist who has argued vociferously that news and opinion... Oh, how the winds have changed for ad-supported media. Over the past year, it’s become...

Oracle Cloud Hardware Exec Departs

By Kevin McLaughlin · Jan 5, 2017 6:25pm PST

Scott Genereux, an Oracle senior vice president in charge of hardware sales in North America, recently left the company, said two people with knowledge of the matter. He will join storage vendor Veritas Technologies later this month as executive vice president of worldwide field operations, a Veritas spokeswoman said. Mr. Genereux, who joined... Scott Genereux, an Oracle senior vice president in charge of hardware sales in North America,...

Amazon CEO Jeff Bezos. Photo by Bloomberg.

Amazon Courts Retailers To Use Its Mobile App

By Cory Weinberg · Jan 5, 2017 1:59pm PST

Amazon.com is planning to let competing retailers integrate with its mobile app, as part of a broader effort to power more shopping outside its digital walls, according to a person briefed by the company.The service, which Amazon is calling “place cards,” would let a consumer click on an email from a store that takes them to an app... Amazon.com is planning to let competing retailers integrate with its mobile app, as part of a...

Snap Chief Strategy Officer Imran Khan, expected to help lead Snap's IPO efforts. Photo by Bloomberg.

The Tax Question Facing Snap in IPO

By Alfred Lee · Jan 5, 2017 7:01am PST · 7 comments

Snap Chief Strategy Officer Imran Khan, expected to help lead Snap's IPO efforts. Photo by Bloomberg.

The Tax Question Facing Snap in IPO

By Alfred Lee · Jan 5, 2017 7:01am PST · 7 comments

If Snapchat’s parent company Snap Inc. goes public this year as expected, some employees will find themselves holding stock worth millions of dollars. But much of their newfound wealth will quickly vanish—in many cases, nearly half of it will be owed in taxes.Companywide, that could add up to tens if not hundreds of millions of... If Snapchat’s parent company Snap Inc. goes public this year as expected, some employees...

Jobs@TheInformation

Manage The Information’s Community

By The Information Staff · Jan 4, 2017 4:39pm PST

The Information is a fast-growing, thriving media startup in the heart of San Francisco. We’re a must-read for the most important people in technology and finance and are building a one-of-a kind community of subscribers. We have a thriving business, doubling our subscribers in the past 12 months. Our goal is to repeat that feat in 2017.... The Information is a fast-growing, thriving media startup in the heart of San Francisco....

Alibaba Chairman Jack Ma. Photo by Bloomberg.

2017 Predictions

What Trump Could Mean for China’s Tech Industry

By Shai Oster · Jan 4, 2017 10:00am PST · 3 comments

The new year promises to be exceptionally rough for the always-complicated relationship between the U.S. and China. As President-Elect Donald Trump threatens tariffs, China’s leaders heed calls to prepare countermeasures. There’s a chance that Mr. Trump’s saber-rattling could accelerate a push already underway toward reforms in... The new year promises to be exceptionally rough for the always-complicated relationship between...

Enterprise Strategy Chief Greg Stubblefield. Photo by Laura Bryant

Q&A

What Silicon Valley Sees in Enterprise Rent-A-Car

By Amir Efrati · Jan 4, 2017 7:02am PST · 4 comments

Enterprise, a 60-year-old company that owns and rents more cars in the U.S. than anyone else, is gaining newfound attention in Silicon Valley and Detroit, judging by conversations with tech executives lately. The reason is simple: Enterprise is one of the few companies that can manage large fleets of cars at scale. That’s a skill likely to... Enterprise, a 60-year-old company that owns and rents more cars in the U.S. than anyone else, is...

An Amazon delivery truck. Photo by Flickr/SounderBruce.

Why Amazon Will Launch Self-Driving Car Effort

By The Information Staff · Jan 3, 2017 10:00am PST · 1 comment

An Amazon delivery truck. Photo by Flickr/SounderBruce.

2017 Predictions

Why Amazon Will Launch Self-Driving Car Effort

By The Information Staff · Jan 3, 2017 10:00am PST · 1 comment

Developments in self-driving car technology will be a big theme in tech in 2017, including at this week’s Consumer Electronics Show in Las Vegas. One company to watch is Amazon.com, which is likely to jump into the field this year by unveiling an effort to develop autonomous truck software.Amazon isn’t trying to go up against other... Developments in self-driving car technology will be a big theme in tech in 2017, including at...