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

Photo by Google.

Google’s Quick-Delivery Service Faces Cost Problem

By Amir Efrati · Aug 4, 2014 7:03am PDT · 2 comments

There’s no question Google’s foray into delivering goods to homes and offices, called Google Shopping Express, has been a hit with online shoppers who have tried it. But GSX, as it’s known inside of Google, remains in a precarious position even as it gets more funding and expands beyond the San Francisco Bay Area, New York and... There’s no question Google’s foray into delivering goods to homes and offices, called...

Bankers’ Fate a Cautionary Tale for VCs

By Jessica E. Lessin · Aug 1, 2014 9:00am PDT · 10 comments

A well-known venture capitalist recently told me in passing that meeting with bankers wasn’t his thing. It’s a sentiment I hear often from investors who privately mutter that bankers aren’t good for much and certainly aren’t worth their many millions in fees. Bankers aren’t particularly popular anywhere.... A well-known venture capitalist recently told me in passing that meeting with bankers...

Maria Klawe, president of Harvey Mudd College. Illustration by Matthew Vascellaro.

Q&A

On a Mission to Change the Culture of Tech

By Jonathan Weber · Jul 31, 2014 12:04pm PDT · 4 comments

Harvey Mudd College, a small science and engineering school in Southern California, often lands at the very top of the rankings when it comes to the earnings of its graduates. The highly selective school has developed a unique curriculum that includes extensive liberal arts studies as well as a year-long “clinic” in which students work with a... Harvey Mudd College, a small science and engineering school in Southern California, often lands...

The New York Stock Exchange floor. Photo by Bloomberg.

Scarcity of Shares Driving Internet Stocks Higher

By Katie Benner · Jul 31, 2014 7:21am PDT

The New York Stock Exchange floor. Photo by Bloomberg.

Scarcity of Shares Driving Internet Stocks Higher

By Katie Benner · Jul 31, 2014 7:21am PDT

With the springtime selloff behind us, tech stocks suddenly seem like the bell of the public market ball. The Nasdaq gained 24% over the past year; Facebook soared 99% and Google notched a 32% gain. Even once-moribund Twitter is coming back to life, and bankers expect the Alibaba offering to be a blockbuster. But there are some subtle... With the springtime selloff behind us, tech stocks suddenly seem like the bell of the public...

Apple CEO Tim Cook and Senior Vice President Eddy Cue. Photo by Bloomberg.

Apple’s TV Push Stalls as Partners Hesitate

By Jessica E. Lessin and Amir Efrati · Jul 30, 2014 11:18am PDT · 1 comment

Those waiting for Apple to start selling its long-discussed, all-in-one box for accessing live and on-demand television are going to have to keep waiting, The Information has learned. Apple engineers who are working on aspects of the device have been told by their bosses not to expect a launch this year and are working off timelines that assume... Those waiting for Apple to start selling its long-discussed, all-in-one box for accessing live...

Bitcoin investor Micky Malka. Photo by Bloomberg.

Bitcoin Gold Rush Draws Investors of Every Stripe

By Eric Newcomer · Jul 30, 2014 7:42am PDT

Complexity, uncertainty and the prospect of a huge killing is a perfect formula for unconventional investors—and so it’s no surprise that bitcoin has become an arena for all manner of opportunistic moneymen. Investment strategies, and the corresponding assumptions about how bitcoin will evolve, are all over the map. There are also a... Complexity, uncertainty and the prospect of a huge killing is a perfect formula for...

Twitter CEO Dick Costolo. Photo by Bloomberg.

Twitter Shows Strength on Key Revenue Metric

By Katie Benner · Jul 29, 2014 6:27pm PDT · 1 comment

Twitter’s blowout earnings results on Tuesday raised expectations that it has the wherewithal to make real money, no matter how long it takes to grow the user base. But even as the microblogging service raised earnings guidance and saw its stock price soar 30% in after-hours trading, it didn’t say too much about how it would... Twitter’s blowout earnings results on Tuesday raised expectations that it has the...

Jason Kilar, former head of Hulu and founder of Vessel. Photo by Bloomberg.

Battle for Video Talent Poses New Test for YouTube

By Tom Dotan · Jul 29, 2014 7:17am PDT · 3 comments

Jason Kilar, former head of Hulu and founder of Vessel. Photo by Bloomberg.

Battle for Video Talent Poses New Test for YouTube

By Tom Dotan · Jul 29, 2014 7:17am PDT · 3 comments

The growing number of companies vying to become distributors of short-form video content is upping the ante for YouTube, even as the Google unit takes new steps to remain the favored platform for video producers. The latest competition comes from Vessel, the video streaming startup from former Hulu CEO Jason Kilar. Executives behind... The growing number of companies vying to become distributors of short-form video content is...

Rick Osterloh, chief operating office of Motorola. Photo by Bloomberg.

Surprise Turnaround for Motorola Ahead of Lenovo Merger

By Amir Efrati · Jul 28, 2014 12:35pm PDT

For nearly the whole time Google has owned Motorola Mobility, many mobile-industry executives considered the handset maker to be a lost cause. That sentiment has changed, both inside and outside of Google, which is selling Motorola to China-based Lenovo Group. Motorola could double phone sales this year, according to internal projections.... For nearly the whole time Google has owned Motorola Mobility, many mobile-industry executives...

Coinbase CEO Brian Armstrong. Photo by Bloomberg.

Sector Spotlight

Emerging Bitcoin Industry Gets Crowded Fast

By Eric Newcomer · Jul 28, 2014 8:09am PDT · 8 comments

When the San Francisco-based Bitcoin startup Coinbase closed a $25 million funding round led by Andreessen Horowitz last December, it marked a coming of age for the digital currency. The price of a bitcoin had hit $1,000, and a fledgling industry that had long been populated with libertarian true-believers, a few committed techies and some... When the San Francisco-based Bitcoin startup Coinbase closed a $25 million funding round led by...

Messaging, the Block Chain and Other Next Big Things

By Jessica E. Lessin · Jul 25, 2014 11:39am PDT · 12 comments

My friend Jason Hirschhorn, the CEO of media aggregator REDEF, asked me to talk about trends I am seeing in the technology industry during a recent dinner we hosted for media and finance leaders in New York. These ideas aren’t fully baked, but they’re a taste of the under-the-radar themes I am hearing about around Silicon Valley.... My friend Jason Hirschhorn, the CEO of media aggregator REDEF, asked me to talk about trends I am...

Chris Daniels, head of Facebook's Internet.org. Photo by Jane Goldman.

With Internet.org, Facebook Looks to Do Well While Doing Good

By Eric Newcomer · Jul 25, 2014 9:35am PDT · 4 comments

Chris Daniels, head of Facebook's Internet.org. Photo by Jane Goldman.

With Internet.org, Facebook Looks to Do Well While Doing Good

By Eric Newcomer · Jul 25, 2014 9:35am PDT · 4 comments

A year ago, Facebook announced the formation of Internet.org, a “global partnership” aimed at spreading Internet connectivity in the developing world. The .org moniker and the lofty rhetoric suggested a philanthropic venture. Facebook CEO Mark Zuckerberg, in a February speech at the Mobile World Congress in Barcelona, referred... A year ago, Facebook announced the formation of Internet.org, a “global...

Colorado Governor John Hickenlooper. Illustration by Matthew Vascellaro.

Q&A

In Colorado, a Startup Culture Built on Lifestyle

By Jonathan Weber · Jul 24, 2014 1:38pm PDT

Colorado has long punched above its weight in the tech business, led by telecom and aerospace companies that benefited from the state’s central location and wide-open spaces. In recent years, the city of Boulder in particular has been a hotbed of startup activity; Colorado ranked eighth nationally among all states in VC investment last quarter,... Colorado has long punched above its weight in the tech business, led by telecom and aerospace...

Jawbone CEO Hosain Rahman. Photo by TechCrunch.

Jawbone’s Big Vision Clouded by Market Realities

By Katie Benner · Jul 24, 2014 7:31am PDT · 5 comments

Ask about Jawbone for long enough and the word genius inevitably comes up. The product genius. The design genius. The genius of chief executive Hosain Rahman, who is described by peers and investors as a mastermind, a stylist and a contender for the title of “Next Steve Jobs.” “This is the genius of Jawbone,” says... Ask about Jawbone for long enough and the word genius inevitably comes up. The product genius....

Apple CEO Tim Cook. Photo by Bloomberg.

Apple’s Mobile Wallet Talks Heat Up

By Amir Efrati · Jul 23, 2014 1:45pm PDT · 5 comments

Conversations between Apple and payments-industry companies have heated up in recent months, with several people briefed on the talks saying that Apple executives have discussed launching a mobile “wallet” as soon as this fall for people to use their iPhones to pay for goods in physical stores. Apple has long been expected to make... Conversations between Apple and payments-industry companies have heated up in recent months, with...

Artwork by Pius Uzamere.

Welcoming Our First Group of Contributors!

By Pius Uzamere and Jessica E. Lessin · Jul 23, 2014 7:20am PDT · 11 comments

Artwork by Pius Uzamere.

Welcoming Our First Group of Contributors!

By Pius Uzamere and Jessica E. Lessin · Jul 23, 2014 7:20am PDT · 11 comments

We’re very excited to announce that we are testing a new commenting system for The Information. We’re fortunate to have insightful subscribers and enjoy hearing from them regularly. So we reached out to a handful of them whose views and insights we think all our subscribers would enjoy and have asked them to comment from time to... We’re very excited to announce that we are testing a new commenting system for The...

Vice Media CEO Shane Smith. Photo by Associated Press.

At Vice Media, Getting Paid for the ‘Cool’ Factor

By Tom Dotan · Jul 23, 2014 7:02am PDT · 7 comments

Vice Media has built a billion-dollar company by declaring itself as the news source with a direct line to hip millennials. But the company’s remarkable success to date is based largely on convincing brand marketers to pay a big premium for the ineffable “cool” factor—a strategy that could prove hard to sustain in the... Vice Media has built a billion-dollar company by declaring itself as the news source with a...

Wealthfront CEO Adam Nash. Photo by Bloomberg.

Sector Spotlight

Startup Money-Managers Banking on the ‘Mass Affluent’

By Katie Benner · Jul 22, 2014 7:51am PDT · 1 comment

It’s easy to understand why banking is often described as “ripe for disruption.” The industry is slow, complicated and known for hidden fees, fine print and rules that seemingly favor Wall Street at the expense of Main Street. While payments companies and Bitcoin-related businesses try to improve financial services, a new breed... It’s easy to understand why banking is often described as “ripe for...

Jason Fried, CEO of Basecamp. Photo by Jason McELweenie.

For Self-Funded Companies, Low Pressure Can Mean High Margins

By Eric Newcomer · Jul 21, 2014 12:51pm PDT

Companies like Box and Square make headlines, but not profits, in Silicon Valley. Another breed of company tends to post high profit margins but flies under the radar: the self-funded. Think Craigslist, Valve, Plenty of Fish, Basecamp, Mailchimp and Gawker, all of which were bootstrapped by their founders without large direct investments... Companies like Box and Square make headlines, but not profits, in Silicon Valley. Another breed...

Amazon CEO Jeff Bezos. Photo by Bloomberg

Why Amazon’s Accountants Keep Quiet About Cloud Business

By Amir Efrati · Jul 21, 2014 7:31am PDT

Amazon CEO Jeff Bezos. Photo by Bloomberg

Why Amazon’s Accountants Keep Quiet About Cloud Business

By Amir Efrati · Jul 21, 2014 7:31am PDT

Speaking at the Fortune Brainstorm conference last week, Amazon.com executive Andy Jassy described Amazon Web Services, the company’s fast-growing cloud-services business, as “completely separable—and organized and managed that way—from the rest of Amazon.” But Amazon's public filings don’t list any... Speaking at the Fortune Brainstorm conference last week, Amazon.com executive Andy Jassy...