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

Top Comments of the Week

By The Information Staff · Jul 8, 2016 12:12pm PDT

Here are this week’s top comments as selected by our reporters and editors. Here are this week’s top comments as selected by our reporters and editors.

Verizon CEO Lowell McAdam at Sun Valley this week. Photo by Bloomberg.

Changes Likely Afoot for Ownership of AwesomenessTV

By Tom Dotan and Amir Efrati · Jul 8, 2016 8:47am PDT

SUN VALLEY, ID—Pay TV rivals Verizon and Comcast will soon find themselves unlikely partners in AwesomenessTV, perhaps the most successful digital media studio in recent years. But Verizon CEO Lowell McAdam on Thursday dropped a hint that this state of affairs wouldn’t last.That raises the possibility that Verizon will move to buy... SUN VALLEY, ID—Pay TV rivals Verizon and Comcast will soon find themselves unlikely...

Zynga CEO Mark Pincus, Facebook CFO David Wehner and Facebook CEO at Mark Zuckerberg at Sun Valley this week. Photo by Bloomberg.

What We Learned at Sun Valley

By Amir Efrati and Tom Dotan · Jul 8, 2016 7:02am PDT

This week’s column comes from Amir Efrati and Tom Dotan, reporting from Allen & Co.’s annual Sun Valley conference this week. The gathering began more than 30 years ago as a forum for traditional media companies. But the power long ago shifted to tech companies. That’s reflected in the attendee list and much of what goes on... This week’s column comes from Amir Efrati and Tom Dotan, reporting from Allen &...

Walt Disney CEO Bob Iger. Photo by Bloomberg.

ESPN Takes a Baby Step Outside the Bundle

By Amir Efrati and Tom Dotan · Jul 7, 2016 7:05pm PDT

Walt Disney CEO Bob Iger. Photo by Bloomberg.

ESPN Takes a Baby Step Outside the Bundle

By Amir Efrati and Tom Dotan · Jul 7, 2016 7:05pm PDT

Walt Disney’s ESPN sports network plans to unveil a package of live programming it will offer directly to consumers on the Web, said a person with knowledge of the plans. The move is a baby step towards ESPN becoming a direct-to-consumer service.ESPN’s new offering won’t include high-value content like professional football or... Walt Disney’s ESPN sports network plans to unveil a package of live programming it will...

Chinese angel investor Wang Gang. Photo by Zhang Yong.

The Angel Investor Behind Didi Chuxing

By Zara Zhang · Jul 7, 2016 7:02am PDT

In 2012, two executives at Alibaba pooled money to launch an app to help Chinese people hail taxis. The startup became Didi Chuxing, most recently valued at $28 billion. One of the co-founders, Cheng Wei, became CEO. The other, Wang Gang, has made so much money from Didi and an earlier stake in Alibaba that he is now one of China’s most... In 2012, two executives at Alibaba pooled money to launch an app to help Chinese people hail...

Red Hat CEO Jim Whitehurst. Photo by Flickr/Red Hat.

The Big Interview

The Only Guy Making Money Off Free Software

By Steve Nellis · Jul 6, 2016 10:01am PDT

There are now scores of venture-backed startups pushing open-source software. Some, like Cloudera, MongoDB and Docker, claim to be worth $1 billion or more. Each has a slightly different spin on the same question: How do you make money off free code?They’ve got a range of different answers, like selling tools on top of an “open... There are now scores of venture-backed startups pushing open-source software. Some, like...

Zenefits CEO David Sacks. Photo by Bloomberg.

Early Zenefits Investors Still Sitting Pretty

By Alfred Lee · Jul 6, 2016 7:01am PDT · 3 comments

Zenefits’ decision to slash its valuation by more than half has been portrayed as hurting VCs who invested early much more than recent investors and employees. But a closer look at the details suggests that series A investors will still be sitting on a paper return of 1,800% after the revaluation. And despite a previously unreported... Zenefits’ decision to slash its valuation by more than half has been portrayed as hurting...

Art by Sam Lessin.

Bots in 2016: Mid-Year Check In

By Sam Lessin · Jul 5, 2016 10:02am PDT · 6 comments

Art by Sam Lessin.

Modest Proposals

Bots in 2016: Mid-Year Check In

By Sam Lessin · Jul 5, 2016 10:02am PDT · 6 comments

In January I wrote a post on bots, conversational apps and Fin. In the post I called out that it felt like 2016 was the year of a broad shift in the developer ecosystem away from apps and toward conversational interfaces and bots.A lot of cards have flipped over in the past six months. Facebook, Google, Amazon and Apple made various... In January I wrote a post on bots, conversational apps and Fin. In the post I called out that it...

Disney Chief Strategy Officer Kevin Mayer. Photo by AP.

Disney’s Digital General

By Tom Dotan and Martin Peers · Jul 5, 2016 7:02am PDT · 4 comments

For several months, Walt Disney Co. executives have been deep in discussions with Major League Baseball over a proposed billion-dollar investment in the league’s video streaming division. And the man leading the talks for the media giant hasn’t been an executive at the company’s ESPN sports network but one of CEO Bob... For several months, Walt Disney Co. executives have been deep in discussions with Major League...

The Weekly Digest

The Information You Missed This Week

By The Information Staff · Jul 2, 2016 8:01am PDT

Happy Fourth!The tech and media elite are heading to Sun Valley this coming week, where they can enjoy skeet shooting, whitewater rafting and tennis. And just maybe, they’ll do some business. We’ll be there, watching out for any signs of deals. Happy Fourth!The tech and media elite are heading to Sun Valley this coming week, where they can...

The Information’s 411 — Bury Them With Benjamins

By Tom Dotan · Jul 1, 2016 2:59pm PDT

Cory explains why sharing is down on Instagram. Steve discusses why Salesforce is in a tough place in the wake of Microsoft's deal to buy LinkedIn. Then a lightning round on the bull or bear cases on some top tech companies.You can find our RSS feed here or subscribe via iTunes and SoundCloud. Cory explains why sharing is down on Instagram. Steve discusses why Salesforce is in a tough...

Top Comments of the Week

By The Information Staff · Jul 1, 2016 11:51am PDT · 2 comments

Top Comments of the Week

By The Information Staff · Jul 1, 2016 11:51am PDT · 2 comments

Here are this week’s top comments as selected by our reporters and editors. Here are this week’s top comments as selected by our reporters and editors.

Sen. Elizabeth Warren. Photo by Bloomberg.

The Coming Tech Referendum

By Jessica E. Lessin · Jul 1, 2016 7:00am PDT · 5 comments

After Britain slapped the European establishment in the face with Brexit and Trump supporters are doing the same in the U.S., I’ve been wondering: Who’s next?I haven’t had to look very far beyond my ZIP code. The next wave of populist anger is heading for the tech elites and the businesses they’re building. After Britain slapped the European establishment in the face with Brexit and Trump supporters are...

Amazon CEO Jeff Bezos. Photo by Bloomberg.

Subscriber Survey

Amazon’s Bezos Does Best in Survey

By Peter Schulz and Steve Nellis · Jun 30, 2016 9:10am PDT · 1 comment

Amazon chief Jeff Bezos, Facebook chief Mark Zuckerberg and Microsoft CEO Satya Nadella got A grades from a solid majority of The Information subscribers responding to our latest month survey. At the other end of the spectrum, Yahoo’s Marissa Mayer and Jack Dorsey, who runs both Twitter and Square, got a C from most subscribers.Subscriber... Amazon chief Jeff Bezos, Facebook chief Mark Zuckerberg and Microsoft CEO Satya Nadella got A...

Instagram CEO Kevin Systrom. Photo by Bloomberg.

Sharing Decline Blurs Instagram’s Picture

By Cory Weinberg · Jun 30, 2016 7:00am PDT · 4 comments

Five times as many people now use Instagram as did in 2013. But despite that strong growth, Instagram has seen a worrisome trend. Between 2013 and 2015, the number of photos shared on average by each Instagram user fell, said two people briefed on the app’s internal data.And just as its parent Facebook has been trying to reverse a drop in... Five times as many people now use Instagram as did in 2013. But despite that strong growth,...

Salesforce CEO Marc Benioff. Photo by Bloomberg.

For Salesforce, it’s Eat or Be Eaten

By Steve Nellis · Jun 29, 2016 10:26am PDT · 1 comment

Salesforce CEO Marc Benioff. Photo by Bloomberg.

For Salesforce, it’s Eat or Be Eaten

By Steve Nellis · Jun 29, 2016 10:26am PDT · 1 comment

Marc Benioff has built Salesforce into a major force in cloud software in recent years, in large part through acquisitions. But in losing LinkedIn to Microsoft, the limits of Mr. Benioff’s ability to compete with bigger firms for deals showed. And that raises the prospect that Salesforce could end up itself being bought, perhaps by... Marc Benioff has built Salesforce into a major force in cloud software in recent years, in large...

LinkedIn China's chief Derek Shen. Photo by LinkedIn.

In China, LinkedIn Struggles to Connect

By Zara Zhang · Jun 29, 2016 7:01am PDT · 1 comment

Mention LinkedIn to any Chinese professional, and you will likely hear the phrase “bu jie di qi,” which means “not connected to the energy of the land.” This sums up the biggest challenge facing LinkedIn in China. Despite efforts to fit in with local customs, the company still comes across as too Western and out of touch... Mention LinkedIn to any Chinese professional, and you will likely hear the phrase “bu jie...

Source: The Information Research

How the Price of Twitter’s Deals Has Dropped

By Martin Peers and Peter Schulz · Jun 28, 2016 7:02am PDT

When the founders of marketing technology firm TellApart struck a deal to sell their company to Twitter 14 months ago, it looked like a great exit. The price tag at the announcement was more than $532 million, seemingly guaranteeing a solid return for TellApart’s employees as well as investors who’d put a total of $17.75 million into... When the founders of marketing technology firm TellApart struck a deal to sell their company to...

Google's self-driving car system attached to a Lexus, 2015.

Google’s Cars Need a Clear Road Map to Revenue

By Amir Efrati · Jun 27, 2016 7:01am PDT · 3 comments

Google, the corporate godfather of self-driving cars, doesn’t have an obvious path to make money from the technology, unlike many of its rivals.The company has pulled ahead in the race to develop fully autonomous vehicles that take responsibility for the safety of its passengers, but glaring questions remain about Google’s ability to... Google, the corporate godfather of self-driving cars, doesn’t have an obvious path to make...

Venture capitalist Dave Morin on his e-mountain bike. Photo by Reed Albergotti.

Innovation or Cheating? Tech Disruption Hits Mountain Biking

By Reed Albergotti · Jun 26, 2016 9:01am PDT · 3 comments

Venture capitalist Dave Morin on his e-mountain bike. Photo by Reed Albergotti.

Innovation or Cheating? Tech Disruption Hits Mountain Biking

By Reed Albergotti · Jun 26, 2016 9:01am PDT · 3 comments

Dave Morin, a tech executive and venture capitalist, posted his time for a recent mountain bike ride to the social networking app Strava and thought little about it. Until, that is, he bumped into a friend, Colin Brumelle, a former Twitter engineering manager and amateur racer who’d seen the Strava posting. “You’re... Dave Morin, a tech executive and venture capitalist, posted his time for a recent mountain bike...