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

Tiger Global Management partner Feroz Dewan.

Technology Investors Chase a Tiger in India

By Amir Efrati · Nov 6, 2014 7:01am PST

SoftBank CEO Masayoshi Son last week grabbed headlines for his sudden, aggressive promise to invest $10 billion in Indian Internet startups, but he’s treading on the turf of a prowling tiger. Tiger Global Management, the secretive investment firm that was started as a hedge fund in 2001, began investing in Indian startups nearly a decade... SoftBank CEO Masayoshi Son last week grabbed headlines for his sudden, aggressive promise to...

Illustration by Matt Vascellaro.

Q&A

Box’s Aaron Levie: We’re Misunderstood

By Steve Nellis · Nov 5, 2014 11:15am PST

Aaron Levie, CEO of Box, wants you to know that his company is not a storage company and that a partnership announced by two of his biggest rivals—Microsoft and Dropbox—is a great thing for Box’s future. In an interview with The Information, the 29 year old also discussed “misunderstandings” around the... Aaron Levie, CEO of Box, wants you to know that his company is not a storage company and that a...

NBC folded its one-time digital gem iVillage into Today.com. Photo by Bloomberg.

Media Sells Off Digital Assets, For Now

By Tom Dotan · Nov 5, 2014 7:00am PST · 2 comments

Call it the great digital housecleaning of digital media. Six or seven years ago, media companies were scrambling to buy digital assets. Properties like MySpace, IGN, Fandango, iVillage and DailyCandy were gobbled up by media conglomerates who wanted to stake an online claim and appear, at least to their shareholders, like they had a read on the... Call it the great digital housecleaning of digital media. Six or seven years ago, media companies...

Indiegogo CEO Slava Rubin. Photo by Associate Press.

Crowdfunding Gets Crowded

By Eric Newcomer · Nov 4, 2014 1:01pm PST · 3 comments

Indiegogo CEO Slava Rubin. Photo by Associate Press.

Crowdfunding Gets Crowded

By Eric Newcomer · Nov 4, 2014 1:01pm PST · 3 comments

When “Life Itself,” the documentary about deceased film critic Roger Ebert, aired at the Sundance Film Festival earlier this year, it marked a big win for Indiegogo. The online crowdfunding site helped its producers find 1,657 backers who gave more than $150,000 to finish the film, partly in exchange for the chance to watch a live... When “Life Itself,” the documentary about deceased film critic Roger Ebert, aired at...

eBay CEO John Donahoe. Photo by Bloomberg.

The Spin Around Spinoffs

By Martin Peers · Nov 4, 2014 7:01am PST

You know the corporate spinoff craze may be nearing its peak when talk surfaces that a previously divorced corporate couple should get back together. Last week’s suggestion by Gabelli analyst Brett Harriss that Viacom and CBS recombine nearly nine years after breaking up highlights a little-discussed reality about corporate breakups:... You know the corporate spinoff craze may be nearing its peak when talk surfaces that a previously...

Exclusive: Jawbone To Broaden Wearables Lineup

By Jessica E. Lessin · Nov 3, 2014 5:41pm PST

Jawbone is the latest wearable company to try to go where Apple is not going, with plans for two new activity trackers aimed at the low and mid-tiers. With the $349 Apple Watch hitting shelves next year, Jawbone is set to announce two new fitness trackers soon, according to people briefed on the matter. The news follows wearables announcements... Jawbone is the latest wearable company to try to go where Apple is not going, with plans for two...

Modest Proposals

Big Brands Have Become Liabilities

By Sam Lessin · Nov 3, 2014 9:31am PST · 6 comments

In the sea of food pictures your friends post on Instagram, how many McDonald’s Big Macs have you seen? How many Starbucks cups, Sheraton Hotel lobbies or Budweiser beers? Perhaps a few. But, in general, mainstream brands are dramatically under-represented in social media—a fact that illustrates a big challenge facing mass consumer... In the sea of food pictures your friends post on Instagram, how many McDonald’s Big Macs...

Time executives on the company’s first day of trading this year. Photo by Associated Press.

Free of Time Warner, Time Inc. Finds Itself in a Bind

By Tom Dotan · Nov 3, 2014 6:00am PST · 2 comments

Time executives on the company’s first day of trading this year. Photo by Associated Press.

Free of Time Warner, Time Inc. Finds Itself in a Bind

By Tom Dotan · Nov 3, 2014 6:00am PST · 2 comments

If you talk to the people at Time Inc., the future hasn’t seemed this bright in over a decade. The massive publishing company, which owns Time, People and InStyle, among others, is now freed from the shackles of its big media owner Time Warner and finally able to control its destiny. What that destiny is and how exactly it will get there... If you talk to the people at Time Inc., the future hasn’t seemed this bright in over a...

Why Twitter’s Latest Narrative Concerns Me

By Jessica E. Lessin · Oct 31, 2014 11:11am PDT · 3 comments

I have been scratching my head all week about what’s going on at Twitter, and I’m worried. I’m not concerned that it posted a $175 million quarterly loss or that company executives issued lower-than-expected guidance for next quarter. What worries me is the confusing story it is telling. Twitter CEO Dick Costolo and CFO Anthony... I have been scratching my head all week about what’s going on at Twitter, and I’m...

Amazon CEO Jeff Bezos. Photo by Bloomberg.

Amazon, Remember Your Roots

By Amir Efrati · Oct 31, 2014 7:00am PDT

Amazon.com’s unveiling this week of a video “streaming stick” that attaches to TVs was a refreshing break from its recent, troubled hardware strategy. The $39 Fire TV Stick, while essentially the same as other devices made by rivals like Google, played more to Amazon’s strength as a “horizontal” company... Amazon.com’s unveiling this week of a video “streaming stick” that attaches to...

Google Exec Andy Rubin Leaving Google

By Jessica E. Lessin and Amir Efrati · Oct 30, 2014 5:22pm PDT

Long-time Google exec and former Android boss Andy Rubin told his team today that he’s leaving Google, according to people close to the company. Mr. Rubin has been working on a slew of secret robotics projects over the past year, after handing over the reins at Android to Sundar Pichai. The precise reason for his departure... Long-time Google exec and former Android boss Andy Rubin told his team today that he’s...

Sridhar Sudarsan, chief technology officer of IBM Watson. Photo by Bloomberg.

Artificial Intelligence’s Legal Gray Area

By Steve Nellis · Oct 30, 2014 12:00pm PDT

Sridhar Sudarsan, chief technology officer of IBM Watson. Photo by Bloomberg.

Artificial Intelligence’s Legal Gray Area

By Steve Nellis · Oct 30, 2014 12:00pm PDT

The arms race around artificial intelligence is continuing among big Internet companies, with Google recently acquiring Dark Blue Labs and Vision Factory to complement its $500 million purchase of DeepMind, which Facebook also eyed. But there’s a big legal gray area over the sector when it comes to patents—which could make some... The arms race around artificial intelligence is continuing among big Internet companies, with...

Facebook CEO Mark Zuckerberg. Photo by Bloomberg.

Facebook Gaining Edge Over YouTube for Some Video Ads

By Tom Dotan and Eric Newcomer · Oct 30, 2014 7:00am PDT

As Facebook continues to ramp up the presence of video in its News Feed, executives at ad agencies and brands have begun noticing a surprising trend: The first views for a new video tend to happen on Facebook rather than YouTube. The shift was strong enough for one media planning agency to rethink its client’s Super Bowl advertising... As Facebook continues to ramp up the presence of video in its News Feed, executives at ad...

Photo by Bloomberg.

New Wireless Plans Raise Questions for Carriers and Phone Makers

By Martin Peers · Oct 29, 2014 10:00am PDT · 2 comments

For years, U.S. cellular carriers have helped drive enormous demand for smartphones by heavily subsidizing retail prices of what would otherwise be costly devices. So what could happen to smartphone sales now that carriers are moving away from that approach? New plans introduced over the past year or so by most of the major carriers change the... For years, U.S. cellular carriers have helped drive enormous demand for smartphones by heavily...

Illustration by Matt Vascellaro.

Q&A

Hope and Headaches for Digital Health

By Steve Nellis · Oct 29, 2014 7:00am PDT · 3 comments

Health care represents about 18 percent of the U.S. economy, and Malay Gandhi is trying to change it one $100,000 check at a time. Mr. Gandhi is the San Francisco managing director for Rock Health, a nonprofit incubator and seed funding provider that has invested in 50 digital health companies, including Doctor on Demand and Lift Labs, which... Health care represents about 18 percent of the U.S. economy, and Malay Gandhi is trying to change...

Source: CB Insights and eMarketer.

A Case for More Venture Investing

By Jessica E. Lessin · Oct 28, 2014 10:56am PDT · 1 comment

Source: CB Insights and eMarketer.

A Case for More Venture Investing

By Jessica E. Lessin · Oct 28, 2014 10:56am PDT · 1 comment

Here’s a riddle about the venture industry. VCs are raising gigantic funds, and valuations are climbing. But dollars invested haven't caught up. There are a lot of reasons for this, first and foremost the relatively small amount of supply, aka companies to invest in. It’s important to keep in mind amid growing questions about... Here’s a riddle about the venture industry. VCs are raising gigantic funds, and valuations...

Box CEO Aaron Levie. Photo by Bloomberg.

Investors Still Bullish on Enterprise Startups Despite Risks

By Steve Nellis · Oct 28, 2014 7:04am PDT

It’s a good time to be raising money as an enterprise startup. For the first three quarters of the year, U.S. venture funding for enterprise services increased 42 percent to $18.6 billion from $13 billion the same period a year ago, according to Dow Jones VentureSource. By contrast, venture funding for consumer information and media... It’s a good time to be raising money as an enterprise startup. For the first three quarters...

Illustration by Sam Lessin.

Modest Proposals

Growth: Design It, Buy It or Get Stuck

By Sam Lessin · Oct 27, 2014 11:05am PDT · 6 comments

Two classes of technology startups are doing well these days, pulling down enormous valuations and aggregating top talent in Silicon Valley. The first is applications that have strong self-reinforcing and highly scalable growth mechanisms. These are generally the messaging, photo and sticker-focused services that can at least theoretically... Two classes of technology startups are doing well these days, pulling down enormous valuations...

Apple CEO Tim Cook announcing Apple Pay. Photo by Bloomberg.

Apple Eyes New Uses for NFC Beyond iPhone Payments

By Amir Efrati · Oct 27, 2014 7:01am PDT · 2 comments

Consumers are just starting to use Apple Pay to make purchases at cash registers and online stores. But Apple representatives have also talked to potential partners about using the technology behind Apple Pay for other sorts of transactions, including building security access and accepting tickets at public transit turnstiles. The Apple... Consumers are just starting to use Apple Pay to make purchases at cash registers and online...

On Valuations, Stop Looking at the Outliers

By Jessica E. Lessin · Oct 24, 2014 11:17am PDT

On Valuations, Stop Looking at the Outliers

By Jessica E. Lessin · Oct 24, 2014 11:17am PDT

Like most of you, I’ve been searching for some numbers to make sense of the private tech market, the dollars flowing in and the upward pressure on pricing. And while I haven’t devised one perfect indicator, I have concluded that the method many people are using to evaluate whether the market is overpriced is deeply flawed. ... Like most of you, I’ve been searching for some numbers to make sense of the private tech...