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

Google's Sundar Pichai, who oversees Android. Photo by Bloomberg.

Google’s Next Bid to Lower Mobile Data Costs: Zero Rating

By Amir Efrati · Feb 13, 2015 7:01am PST

Global Web companies like Google and Facebook know that most of their future growth will need to come from emerging markets. But as smartphones continue to bring more people online, data-plan costs and other hurdles are preventing those people from using mobile Web services. In response, Google engineers in recent months have talked to select... Global Web companies like Google and Facebook know that most of their future growth will need to...

AOL CEO Tim Armstrong. Photo by Bloomberg.

Glut of Ad-Buying Services Roils Industry

By Tom Dotan · Feb 12, 2015 10:01am PST · 3 comments

Any advertiser that wants to run a digital campaign faces a complex collection of ad-buying software and exchanges. That conflict has brought the industry to a stalemate, with a dividing line drawn between the tools built by the big tech companies and those sold by smaller ad tech firms. Whatever advantages of scale enjoyed by big tech firms,... Any advertiser that wants to run a digital campaign faces a complex collection of ad-buying...

Apple CEO Tim Cook this week in San Francisco. Photo by Bloomberg.

Why Tech Sector’s Debt Craze Won’t Last

By Martin Peers · Feb 12, 2015 7:01am PST

The view from the corporate treasury office in many tech companies recalls the Rime of the Ancient Mariner: Cash, cash everywhere and not a penny to spend. As big tech companies continue to leave cash overseas rather than pay taxes to bring it back, they’ve increasingly resorted to borrowing money. This trend, fueled by record-low interest... The view from the corporate treasury office in many tech companies recalls the Rime of the...

Art by Matt Vascellaro.

GrubHub CEO: What It Will Take to Win the Delivery Wars

By Steve Nellis · Feb 11, 2015 10:01am PST · 2 comments

Art by Matt Vascellaro.

Q&A

GrubHub CEO: What It Will Take to Win the Delivery Wars

By Steve Nellis · Feb 11, 2015 10:01am PST · 2 comments

Chicago-based GrubHub has become the biggest and best-known restaurant takeout app. But it’s under attack from above and below amid nearly $300 million in recent deals in the delivery space. On Tuesday, Yelp acquired GrubHub competitor Eat24 for $134 million. Last year, payments startup Square bought Caviar, which delivers from high-end... Chicago-based GrubHub has become the biggest and best-known restaurant takeout app. But it’s...

Square CEO Jack Dorsey. Photo by Bloomberg.

As Apple Payments Strategy Takes Shape, Google and Square Respond

By Amir Efrati and Jessica E. Lessin · Feb 11, 2015 7:01am PST · 3 comments

Apple rattled tech rivals like Google last year when it entered brick-and-mortar retail with Apple Pay, which lets people use their iPhone to pay for goods in stores. Now Google, which has long offered a similar product for Android phones that hasn’t become widely used, and Square, which helps small businesses accept credit card payments, are... Apple rattled tech rivals like Google last year when it entered brick-and-mortar retail with...

The Information Recommends

Most Valuable Tech Events

By The Information Staff · Feb 10, 2015 10:01am PST · 6 comments

There is no shortage of conferences and events in the technology and media industries, but the list of the hottest ones changes fast. To help you make the most out of your networking time, we’re starting a list of the most valuable events and conferences. To start, we’ve assembled a list of conferences recommended by subscribers from our... There is no shortage of conferences and events in the technology and media industries, but the...

Workday CEO Aneel Bhusri. Photo by Bloomberg.

Workday’s Rise Slows Amid Financial Software Push

By Steve Nellis · Feb 10, 2015 7:01am PST

In the subscription software sector, full of fast-growing companies with high-priced stocks like Salesforce.com and Xero, Workday long stood out. But the company is beginning to lose its luster. The nine-year-old company makes cloud-based human resources software and has started pushing into apps for corporate financials as well. Its growth has... In the subscription software sector, full of fast-growing companies with high-priced stocks like...

Time Warner CEO Jeff Bewkes. Photo by Bloomberg.

As Cable Mergers Loom, Time Warner Should Do This Deal

By Martin Peers · Feb 9, 2015 10:00am PST · 2 comments

Time Warner CEO Jeff Bewkes. Photo by Bloomberg.

As Cable Mergers Loom, Time Warner Should Do This Deal

By Martin Peers · Feb 9, 2015 10:00am PST · 2 comments

The rush among media companies to launch over-the-top video services suggests a recognition among old media that the gold mine of cable television is in decline. Less recognized is what that means for the future of the big public entertainment companies, each hugely dependent on cable channel profits. One answer is consolidation, which typically... The rush among media companies to launch over-the-top video services suggests a recognition among...

Art by Sam Lessin.

Modest Proposals

Leapfrogging the U.S.: Transportation in Sao Paulo

By Sam Lessin · Feb 9, 2015 7:01am PST · 3 comments

Sao Paulo, Brazil—This city, where I spent the last week, is massive—much bigger than New York. Traffic can be terrible, from the main thoroughfares to the winding and complicated back alleys even locals struggle to navigate. Cars are extremely expensive, and mass transportation is underdeveloped. So logically, transportation and delivery... Sao Paulo, Brazil—This city, where I spent the last week, is massive—much bigger than New York....

The Tech Sector May Not Be as Overheated as Some Think

By Jessica E. Lessin · Feb 6, 2015 10:14am PST · 1 comment

There’s no doubt that some tech companies are drawing valuations they won’t live up to. Risk is alive and well in the sector. But evidence is mounting that the private and public tech markets are more rational than some headlines make you think. This isn’t to say that we’re not nearing the peak of a cycle. Markets are cyclical, and there will be... There’s no doubt that some tech companies are drawing valuations they won’t live up to. Risk is...

Google CEO Larry Page. Photo by Bloomberg.

The Race to Prove an Effective Digital Ad

By Tom Dotan · Feb 6, 2015 7:01am PST · 2 comments

There is, right now, something of a settling in the online advertising landscape. With Pinterest unveiling its strategy for generating revenue through promoted pins, the owners of the most visited social networks, apps and sites are now public with their strategies for minting billions from digital ads. With the playing field set, the companies... There is, right now, something of a settling in the online advertising landscape. With Pinterest...

Google's Nick Fox in 2009. Photo by Kenneth Yeung.

At Google, Nick Fox Gets the Message

By Amir Efrati · Feb 5, 2015 1:52pm PST · 1 comment

Google's Nick Fox in 2009. Photo by Kenneth Yeung.

At Google, Nick Fox Gets the Message

By Amir Efrati · Feb 5, 2015 1:52pm PST · 1 comment

Nick Fox, the man in charge of Google’s still-unannounced mobile phone service, also has become head of Google’s communications products like Google Voice, Hangouts and Messenger, a signal that the company is getting more serious about building mobile messaging products. The young executive, who previously ran an AdWords unit, started running... Nick Fox, the man in charge of Google’s still-unannounced mobile phone service, also has become...

Yahoo CEO Marissa Mayer. Photo by Bloomberg.

What’s Yahoo Worth? Half a Twitter

By Martin Peers · Feb 5, 2015 7:00am PST · 1 comment

The way Yahoo tells it, spinning off its Alibaba stake into a separate company will give investors “valuation transparency” into its core business and its stake in Alibaba. But judging from Yahoo’s stock price in recent days, that clarity is still a ways off. Last week’s confirmation of the widely expected spinoff removed one of the biggest... The way Yahoo tells it, spinning off its Alibaba stake into a separate company will give...

Art by Matt Vascellaro.

Q&A

The Ad Tech Company Google Pays Attention To

By Amir Efrati · Feb 4, 2015 10:23am PST · 3 comments

It’s a tall order to compete with Google and Facebook in selling digital ads. That’s especially true for the hundreds of advertising technology firms that sell ads on sites or apps owned by other companies. Many know they face slim odds as standalone entities. So they typically sell themselves to Google, Facebook, Twitter, Yahoo and others that... It’s a tall order to compete with Google and Facebook in selling digital ads. That’s especially...

Facebook COO Sheryl Sandberg. Photo by Bloomberg.

Facebook’s Ad Evolution Leaves Ad Exchange Behind

By Tom Dotan · Feb 4, 2015 7:00am PST · 4 comments

Three years after Facebook launched its Ad Exchange that marked an aggressive entry into the use of real-time bidding technology in ad sales, the social media giant is changing direction, causing waves among both advertisers and ad tech firms. In recent months, as part of its shift in advertising strategy toward mobile, and in particular... Three years after Facebook launched its Ad Exchange that marked an aggressive entry into the use...

Yahoo CEO Marissa Mayer. Photo by Bloomberg.

Yahoo’s Product Problem

By Amir Efrati · Feb 3, 2015 10:00am PST · 2 comments

Yahoo CEO Marissa Mayer. Photo by Bloomberg.

Yahoo’s Product Problem

By Amir Efrati · Feb 3, 2015 10:00am PST · 2 comments

For Yahoo, there are some daunting things about relinquishing its stake in Alibaba Group Holding, not the least of which is this: In the two and a half years since Marissa Mayer became CEO, the company’s product group hasn’t been very productive. To survive after it sheds two-thirds of its value from the upcoming Alibaba stake spin-off, Yahoo... For Yahoo, there are some daunting things about relinquishing its stake in Alibaba Group Holding,...

MongoDB co-founders Dwight Merriman (left) and Kevin Ryan. Photo by Bloomberg.

Taking on Oracle: Inside MongoDB’s Headwinds

By Steve Nellis · Feb 3, 2015 7:01am PST

For the startups vying to attack the $34 billion-plus database market Oracle Corp. has dominated for decades, creating software popular with developers doesn’t guarantee success. Figuring out a sales strategy is crucial. Take MongoDB, so well positioned among the young companies nipping at Oracle’s heels that last summer it was valued at $1.2... For the startups vying to attack the $34 billion-plus database market Oracle Corp. has dominated...

Art by Sam Lessin.

Subscriber Survey

Predicting the Next Batch of Tech IPOs and More

By Jessica E. Lessin · Feb 2, 2015 10:00am PST

If the early days of 2015 are any indication, we can expect a big year for tech. January saw some exciting product announcements (Microsoft HoloLens), funding news (Uber, again), IPOs (Box) and controversy (continued grumbling about Twitter management).The Information subscribers are still upbeat about the tech sector and the economy, while... If the early days of 2015 are any indication, we can expect a big year for tech. January saw some...

Comcast CEO Brian Roberts. Photo by Bloomberg.

Amid Wireless Shake-Up, Comcast Is Elephant In the Room

By Amir Efrati and Martin Peers · Feb 2, 2015 7:01am PST

Two decades of vacillation within the U.S. pay-TV industry about jumping into wireless telephony is nearing an end, turning up the pressure on traditional carriers like Verizon and AT&T. The latest signal: disclosure on Friday that Dish Network bid $13 billion for extra wireless spectrum in the just-concluded federal auction. The... Two decades of vacillation within the U.S. pay-TV industry about jumping into wireless...

Is Time the New Click Bait?

By Jessica E. Lessin · Jan 30, 2015 2:59pm PST · 1 comment

Is Time the New Click Bait?

By Jessica E. Lessin · Jan 30, 2015 2:59pm PST · 1 comment

So Snapchat wants to become a media company. This week it showed off the long-rumored Discover, a way to watch and read stories from publishers like Yahoo and Vice by swiping to a new screen on the messaging service. It’s too early to say what Discover will mean for Snapchat or publishers. (For my suspicions on the latter, see this.) But... So Snapchat wants to become a media company. This week it showed off the long-rumored Discover, a...