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

Larry Page and ‘Retirement’ 2.0

By Jessica E. Lessin · Aug 14, 2015 8:24am PDT · 3 comments

Hardly a year has gone by in Silicon Valley without a big CEO transition—some rockier than others. Gates, Yang, Jobs, Ellison, Ballmer, Donahoe, Costolo. So why does Larry Page’s decision to hand over the reins of Google as we know it feel so different, so significant?It’s not just the fact he birthed Google’s algorithm... Hardly a year has gone by in Silicon Valley without a big CEO transition—some rockier than...

Elon Musk. Photo by Bloomberg.

The Information Series

Four Questions for SpaceX

By Amir Efrati · Aug 13, 2015 10:26am PDT

Space Exploration Technologies, Elon Musk’s rocket company, has accomplished a lot since it was one failed launch away from going out of business, in 2008.The company, which Mr. Musk hopes will be his vehicle for starting a human colony on Mars, charges far less than any other competitor to send satellite and other equipment to space. Its... Space Exploration Technologies, Elon Musk’s rocket company, has accomplished a lot since it...

Discovery CEO David Zaslav. Photo by Bloomberg.

The Next Issue for Media Firms: Rising Debt

By Martin Peers · Aug 13, 2015 7:01am PDT · 2 comments

Last week’s media stock implosion reflected an overdue recognition that cord-cutting is hurting media companies’ core television businesses. But there’s another risk that deserves more attention: Debt levels among major media companies have crept up to levels that could become worrisome if their business continues to deteriorate. What makes this... Last week’s media stock implosion reflected an overdue recognition that cord-cutting is hurting...

Photo by Bloomberg.

Alphabet’s Next Startup: M is for Mosquito?

By Amir Efrati · Aug 12, 2015 7:01am PDT

Photo by Bloomberg.

Alphabet’s Next Startup: M is for Mosquito?

By Amir Efrati · Aug 12, 2015 7:01am PDT

A senior executive within Google, soon to be Alphabet, told colleagues he wanted to develop genetically engineered mosquitoes to help fight disease, according to people who know him. Linus Upson, the man who helped build Google’s Chrome browser alongside new CEO Sundar Pichai, recently said he intended to start a biology project involving... A senior executive within Google, soon to be Alphabet, told colleagues he wanted to develop...

Dan Loeb, center, of Third Point. Photo by Bloomberg.

Third Point Says KidoZen Numbers Were Too Good To Be True

By Reed Albergotti · Aug 11, 2015 4:15pm PDT

Last summer, Jesus Rodriguez, founder of a South Florida startup called KidoZen that helped businesses create mobile apps, hosted several dinners for venture capitalists, financial analysts and other technology luminaries at upscale restaurants like Fleur de Lys in San Francisco. While expensive bottles of wine were served to guests, Mr.... Last summer, Jesus Rodriguez, founder of a South Florida startup called KidoZen that helped...

From left, Dennis Woodside and CEO Drew Houston of Dropbox. Photo by Bloomberg.

Inside Dropbox’s Sales Culture

By Steve Nellis · Aug 11, 2015 7:00am PDT · 1 comment

For the past couple of years, two competing business-to-business sales cultures have existed within Dropbox. One is the traditional wine-and-dine approach that can land big customers but brings big costs. The other is a more predictable, automated approach that focuses on finding and converting the most reliable customers, even if the individual... For the past couple of years, two competing business-to-business sales cultures have existed...

Google CEO Larry Page. Photo by Bloomberg.

What Alphabet Means

By Jessica E. Lessin and Amir Efrati · Aug 10, 2015 3:05pm PDT · 3 comments

Google’s morphing into Alphabet was many years coming. It’s no secret that Google’s founders haven’t considered themselves a search company for a while—Larry Page said so in so many words two years ago at TED. But why now? The answer, according to people involved, is simple: Google’s growing ambitions were complicating an already complicated... Google’s morphing into Alphabet was many years coming. It’s no secret that Google’s founders...

Clips of A+E's Duck Dynasty are on Vessel. Photo by Bloomberg.

Will Vessel’s Network Gamble Pay Off?

By Tom Dotan · Aug 10, 2015 10:01am PDT · 1 comment

Clips of A+E's Duck Dynasty are on Vessel. Photo by Bloomberg.

Will Vessel’s Network Gamble Pay Off?

By Tom Dotan · Aug 10, 2015 10:01am PDT · 1 comment

For a site launched as a place for paid early access to YouTube videos, Vessel has shown a surprising interest in going after exclusive TV clips. But even as more cable network content is set to join the site in the coming weeks, media executives remain uncertain about the site’s business model. Vessel is currently in talks with at least two... For a site launched as a place for paid early access to YouTube videos, Vessel has shown a...

Art by Sam Lessin.

Modest Proposals

Oculus Is for the Elderly

By Sam Lessin · Aug 10, 2015 7:01am PDT · 3 comments

When I am at home, for better and worse, I mostly only spend time with people who are very sophisticated in their technology consumption and tend to be about my age (give or take a few decades). In traveling for vacation to the East Coast this past week I have spent more time than usual watching people outside of my age range and outside of the... When I am at home, for better and worse, I mostly only spend time with people who are very...

Announcing Our First Subscriber Summit (And a Request)

By Jessica E. Lessin · Aug 7, 2015 9:24am PDT

I’m going to keep this short because I’m technically on vacation on the East Coast, where the heat is reminding me why I moved to San Francisco :) But I wanted to share some exciting news. We’re holding our first The Information Subscriber Summit in San Francisco this fall (probably early October)—and we want YOU to be a part of it. I’m going to keep this short because I’m technically on vacation on the East Coast, where the...

SolarCity co-founders Pete and Lyndon Rive. Photo by Bloomberg.

A Rare Look Inside a Private Tech Stock Loan

By Alfred Lee · Aug 7, 2015 7:23am PDT

The business of helping shareholders in private tech companies turn their stock into cash is not without risk. But for those investors willing to lend money against stock in companies before they go public, the returns can be generous. One such investor, 137 Ventures, appears to have made at least a 50 percent return in 17 months on a loan it... The business of helping shareholders in private tech companies turn their stock into cash is not...

Vessel co-founder Jason Kilar. Photo by Bloomberg.

As Pay TV Pie Crumbles, Question Is Where Spending Goes

By Martin Peers · Aug 6, 2015 7:01am PDT

Vessel co-founder Jason Kilar. Photo by Bloomberg.

As Pay TV Pie Crumbles, Question Is Where Spending Goes

By Martin Peers · Aug 6, 2015 7:01am PDT

The years-long debate about whether mainstream TV networks are vulnerable to pay TV cord-cutting should now be over, thanks to Walt Disney’s disclosure on Tuesday that its near-term cable channel profits would be affected by ESPN subscriber losses. Little wonder that media stocks plunged on Wednesday. The more interesting question now is how big... The years-long debate about whether mainstream TV networks are vulnerable to pay TV cord-cutting...

Photo by Amir Efrati. Art by Matt Vascellaro.

The Big Interview

Pinterest’s Revenue Man Tries to Bring Ad Plan into Focus

By Amir Efrati · Aug 5, 2015 11:03am PDT

Every work day, Tim Kendall, Pinterest’s head of monetization, dons a T-shirt emblazoned with the word “Focus.” He started wearing it at the beginning of last year when he was still the company’s “head of product”—a misnomer, given that CEO Ben Silbermann effectively ran product—and wanted to inspire colleagues and himself. He said he’d continue... Every work day, Tim Kendall, Pinterest’s head of monetization, dons a T-shirt emblazoned with the...

The Information’s Latest Startups To Watch

By The Information Staff · Aug 5, 2015 7:00am PDT

The second installment of The Information’s Startups To Watch series highlights how international the startup scene is. Among the companies profiled is one that was dreamed up in an English barn, another with Chinese roots, one developed by an Australian living in San Francisco and a fourth created by three Canadians. As was the case with our... The second installment of The Information’s Startups To Watch series highlights how international...

Source: SEC Filings; Graphic by Peter Schulz

Private Tech Draws Wide Array of Mutual Funds

By Alfred Lee · Aug 4, 2015 7:01am PDT

Uber broke boundaries when it took investments from Fidelity and BlackRock last year. Suddenly, mutual funds widely held by 401(k)s were plunging into private tech. But institutional investing in Uber is more widespread than previously understood. Scores of mutual funds now own shares in the ridesharing company, according to regulatory filings... Uber broke boundaries when it took investments from Fidelity and BlackRock last year. Suddenly,...

YouTube star Tyler Oakley. Photo by Bloomberg.

The Problem with Being YouTube Famous

By Tom Dotan · Aug 3, 2015 10:00am PDT · 4 comments

YouTube star Tyler Oakley. Photo by Bloomberg.

The Problem with Being YouTube Famous

By Tom Dotan · Aug 3, 2015 10:00am PDT · 4 comments

Here’s an issue for all those media firms jockeying to cash in on the enormously popular YouTube stars and their giant audiences: is the nature of the medium making stars out of people too early, stunting their chances of growing into sustainable acts? That question came to mind at last month’s Vidcon—the annual conference of online video stars,... Here’s an issue for all those media firms jockeying to cash in on the enormously popular YouTube...

Art by Matt Vascellaro.

Chinese Tech Investors to Watch

By Tom Dotan and Jessica E. Lessin · Aug 3, 2015 7:00am PDT · 1 comment

In investing, everyone wants an “in” in China. So we assembled a list of the local Chinese investors insiders know and rely on to scout the best tech investments in the country. These are the people who global funds like Tiger Global, DST and Coatue network with as they look for the next Alibaba. Many of them are early-stage and invest alongside... In investing, everyone wants an “in” in China. So we assembled a list of the local Chinese...

Qatalyst CEO Frank Quattrone. Photo by Bloomberg.

Cloud Giants Eye Mesosphere

By Amir Efrati and Steve Nellis · Aug 2, 2015 5:22pm PDT

Software startup Mesosphere has hired investment banking firm Qatalyst Partners to evaluate a buyout bid it recently received from a major cloud computing company and to engage with other potential bidders, according to a person involved in that process and a person who was briefed about it. Because the bid came from a major public cloud... Software startup Mesosphere has hired investment banking firm Qatalyst Partners to evaluate a...

The Hazard of Hype in Tech Reporting

By Jessica E. Lessin · Jul 31, 2015 10:22am PDT · 2 comments

There’s something about tech media coverage that isn’t sitting well with me right now. It’s actually more of a question I keep coming back to: How do you cover a very hyped industry without hyping it up more? It’s not an easy question to answer. Even writing about something while pointing out its flaws is a little hypey. Take, for instance a... There’s something about tech media coverage that isn’t sitting well with me right now. It’s...

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

Steady Pessimism Around Some Private Tech

By Peter Schulz and Martin Peers · Jul 31, 2015 7:00am PDT

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

Subscriber Survey

Steady Pessimism Around Some Private Tech

By Peter Schulz and Martin Peers · Jul 31, 2015 7:00am PDT

Nine months into our subscriber survey, some clear trends are emerging. The biggest standout from the data is that sentiment around Square, Lyft and Dropbox has been consistently pessimistic.Overall, there’s been more negativity towards private companies than public ones. In the latest month, attitudes towards Lyft and Pinterest worsened,... Nine months into our subscriber survey, some clear trends are emerging. The biggest standout from...