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 Information You Missed

By The Information Staff · Aug 29, 2015 8:06am PDT

Good morning! Our first podcast “The Information’s 411” (get it?) hit the airwaves yesterday, hosted and produced by the great Tom Dotan. Grab some headphones and let us know what you think.If you watched the public markets this past week, you might feel like you’ve just gotten off a rollercoaster. Good morning! Our first podcast “The Information’s 411” (get it?) hit the...

Art by Myk Klemme

The Information's 411

Introducing: The Information’s 411

By The Information Staff · Aug 28, 2015 4:37pm PDT · 1 comment

We’re excited to announce our newest feature at The Information: a podcast. It’s called “The Information’s 411,” and it’s a weekly rundown of the stories we covered during the week as well as bonus insights and analysis from all members of our team. (That’s reporters, editors, engineers...and one day,... We’re excited to announce our newest feature at The Information: a podcast. It’s...

Apple, Amazon and the Race for Input Zero

By Jessica E. Lessin · Aug 28, 2015 7:24am PDT

While the tech industry has circled Sept. 9 as the date the new iPhone will be revealed, I am looking forward to it for a different reason: the new Apple TV box. I feel this way despite the fact Apple isn’t going to debut a fancy new television service with the box. The long, long, long-rumored television service remains delayed because... While the tech industry has circled Sept. 9 as the date the new iPhone will be revealed, I am...

*Calculation: More Optimistic - Less Optimistic = The Information Score

Doubts About Private Tech Grow

By Martin Peers and Peter Schulz · Aug 27, 2015 10:06am PDT

*Calculation: More Optimistic - Less Optimistic = The Information Score

Subscriber Survey

Doubts About Private Tech Grow

By Martin Peers and Peter Schulz · Aug 27, 2015 10:06am PDT

You’re not the only one feeling gloomy about the markets. Sentiment towards both the broader economy and the technology sector turned negative this month among The Information subscribers, according to our latest survey. It’s the first time sentiment has turned negative for either since the monthly survey began last November.The... You’re not the only one feeling gloomy about the markets. Sentiment towards both the...

Xiaomi CEO Lei Jun, left. Photo by Bloomberg.

The Information Series

Four Questions for Xiaomi

By Amir Efrati · Aug 27, 2015 7:06am PDT · 1 comment

Xiaomi has a lot to live up to. Just five years after it was founded, the Chinese smartphone maker has become the second-most-valued private tech company in the world—worth $45 billion on paper, more than public tech stocks like Sony, Panasonic, LG Electronics and Canon and only a third as much as Samsung Electronics. Xiaomi has a lot to live up to. Just five years after it was founded, the Chinese smartphone...

Photo by AP.

To Recruit Top Talent, Startups Offer Rosy Predictions

By Reed Albergotti · Aug 26, 2015 7:06am PDT · 1 comment

When employees at Palantir Technologies want to see what their stock in the private company is worth, they can’t use the public markets. So they turn to the next best thing: an internal tool on the company intranet that estimates the worth of their holdings based upon an imaginary future value of Palantir. By moving a slider to the right,... When employees at Palantir Technologies want to see what their stock in the private company is...

DirecTV's former CEO Mike White, left, with AT&T CEO Randall Stephenson. Photo by Bloomberg.

DirecTV May End Up More Burden for AT&T

By Martin Peers · Aug 25, 2015 10:06am PDT

In the annals of big acquisitions that look doomed from the start, Microsoft’s purchase of Nokia and Hewlett-Packard’s purchase of Compaq Computer may be hard to beat. At least, until, AT&T completed its $63 billion purchase of DirecTV last month.This is a case of a company whose business is growing very slowly buying a company... In the annals of big acquisitions that look doomed from the start, Microsoft’s purchase of...

A New York Stock Exchange specialist. Photo by AP.

Private Tech: The New Realities

By The Information Staff · Aug 25, 2015 7:06am PDT · 1 comment

A New York Stock Exchange specialist. Photo by AP.

Private Tech: The New Realities

By The Information Staff · Aug 25, 2015 7:06am PDT · 1 comment

Private tech investors are bracing for how a Wall Street selloff could send ripple effects throughout the private side tech, preparing for new realities around fundraising, hirings and exits. The Information spoke with about half a dozen investors Monday to determine what they’re looking out for and how they’re adapting to changing market... Private tech investors are bracing for how a Wall Street selloff could send ripple effects...

Art by Sam Lessin.

Modest Proposals

Understanding the Hidden ‘Costs’ of Products

By Sam Lessin · Aug 24, 2015 11:13am PDT · 4 comments

If you ask someone about the cost of a product, either hardware or software, you typically get an answer in dollars. HBO, for example, is $15 a month, and Facebook is free. The reality, however, is a bit more complicated.All products—virtual or physical—have financial costs and cognitive costs, both upfront and on an ongoing basis.... If you ask someone about the cost of a product, either hardware or software, you typically get an...

Art by Matt Vascellaro.

The Big Interview

Slack’s Enterprise Playbook

By Steve Nellis · Aug 24, 2015 7:06am PDT

Slack’s strategy for expanding in the business market is simple: focus on tiny firms.“My favorite customer is the five person graphic design team in Omaha that pulls out the credit card and then never contacts us,” said Slack CEO Stewart Butterfield in an interview with The Information. “There are hundreds of thousands of... Slack’s strategy for expanding in the business market is simple: focus on tiny firms....

The Information You Missed

By The Information Staff · Aug 22, 2015 8:06am PDT

Good Morning!Friday was a bleak day for the public markets—especially tech—and Monday is going to be important for seeing whether the fear spreads. For now, we’re looking back over the week when we examined areas where private tech investors are getting a little anxious. Good Morning!Friday was a bleak day for the public markets—especially tech—and Monday...

What I Learned From NYT’s Amazon Story

By Jessica E. Lessin · Aug 21, 2015 7:06am PDT · 4 comments

What I Learned From NYT’s Amazon Story

By Jessica E. Lessin · Aug 21, 2015 7:06am PDT · 4 comments

Almost a week since the New York Times’s Amazon.com exposé, the piece is still riling people. Was it fair? (me: undoubtedly). Is Amazon.com unique? (me: yes and no).Many technologists and tech reporters were dismissive, calling allegations of a “bruising workplace” of cut-throat competition and long working hours in... Almost a week since the New York Times’s Amazon.com exposé, the piece is still...

Gilt Groupe Chairman Kevin Ryan. Photo by Bloomberg.

Mutual Funds Show Markdowns On Private Stocks

By Alfred Lee · Aug 20, 2015 7:16am PDT · 2 comments

In the public market, bad news for a company typically sends its stock plunging. In the private market, of course, there’s no opportunity for such an immediate reaction. But the growing number of institutional investors in private companies can still take their own writedowns, providing a window into how valuations in the private tech... In the public market, bad news for a company typically sends its stock plunging. In the private...

Palantir CEO Alexandar Karp. Photo by Bloomberg.

Mutual Funds Showing up Across Private Tech

By Alfred Lee · Aug 20, 2015 7:06am PDT · 2 comments

The private tech explosion has become less private, as rising valuations attract mutual funds often held by retirement accounts and retail investors. Mutual funds hold shares in at least 48 U.S. and overseas-based private startups valued at more than $1 billion, according to a search of regulatory filings, including more than half of American... The private tech explosion has become less private, as rising valuations attract mutual funds...

Google CEO Sundar Pichai. Photo by Bloomberg.

What Sundar Pichai’s Team is Up Against

By Amir Efrati · Aug 19, 2015 1:29pm PDT · 10 comments

At Google, the political game among executives has always been to get as close as possible to co-founder Larry Page. Last week, that game changed for good.As new CEO Sundar Pichai makes Google his own, he's going to draw on a small group of senior leaders to help execute his plans and hope that they stick around for the next chapter of a... At Google, the political game among executives has always been to get as close as possible to...

Postmates CEO Bastian Lehmann. Photo by Bloomberg.

Investors Asking Tough Questions of On-Demand Apps

By Tom Dotan and Steve Nellis · Aug 19, 2015 12:39pm PDT · 1 comment

Postmates CEO Bastian Lehmann. Photo by Bloomberg.

Investors Asking Tough Questions of On-Demand Apps

By Tom Dotan and Steve Nellis · Aug 19, 2015 12:39pm PDT · 1 comment

For the past few years, investors have showered money on on-demand apps to deliver everything from food to massages. That may be starting to change.As some food-delivery firms, such as SpoonRocket, struggle under the weight of high food and operating costs, investors are asking tough questions about whether those expenses eat away at potential... For the past few years, investors have showered money on on-demand apps to deliver everything...

SoFi's new chief operating officer Joanne Bradford. Photo by Flickr/TechCrunch

Online Lenders Facing Marketing War

By Tom Dotan · Aug 18, 2015 7:06am PDT

Enthusiasm around online lending has created a handful of companies with multi-billion dollar valuations and an even bigger group of up-and-comers such as Upstart and SoFi. But competition among more well-funded players is driving up the costs of luring new customers, clouding the long-term prospects for some in the industry.Rising customer... Enthusiasm around online lending has created a handful of companies with multi-billion dollar...

Microsoft CEO Satya Nadella. Photo by Bloomberg.

Microsoft Has Been in Buyout Talks with Mesosphere

By Amir Efrati · Aug 17, 2015 6:08pm PDT

Microsoft has expressed interest in acquiring a cloud-computing software startup called Mesosphere, according to two people who were briefed about the recent talks, raising the possibility of a deal that could reshape the cloud infrastructure landscape. The approach was made about a month ago and it’s unclear whether the talks are still... Microsoft has expressed interest in acquiring a cloud-computing software startup called...

Art by Matt Vascellaro.

Meet Google’s New Money Man, Philipp Schindler

By Amir Efrati · Aug 17, 2015 1:45pm PDT

Amid the Alphabet-Google news last week, one major change went unnoticed: Google has a new sales chief, Philipp Schindler.Mr. Schindler succeeds Omid Kordestani, Google’s chief business officer and a close confidant of Google co-founder Larry Page. Mr. Kordestani is departing as Mr. Page vacates his Google CEO post to run Google’s... Amid the Alphabet-Google news last week, one major change went unnoticed: Google has a new sales...

Nasdaq Private Market executive Jeff Thomas, right. Photo by Flickr/Dow Jones Events

Brokering Private Stocks Yet to Yield Big Profits

By Alfred Lee · Aug 17, 2015 7:06am PDT

Nasdaq Private Market executive Jeff Thomas, right. Photo by Flickr/Dow Jones Events

Brokering Private Stocks Yet to Yield Big Profits

By Alfred Lee · Aug 17, 2015 7:06am PDT

The secondary market for private tech shares is booming again, after a slowdown following the Facebook IPO. With valuations rising and startups staying private longer, investors in search of growth have been striking more deals with private company employees seeking to sell their shares.But that boom doesn’t appear to be yet translating... The secondary market for private tech shares is booming again, after a slowdown following the...