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

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Recent Editions

Is Uber More Like Amazon.com or an Airline?

By Jessica E. Lessin · Jul 18, 2014 2:02pm PDT

In one of the most interesting rivalries to watch in tech right now, Uber, Lyft and even much smaller on-demand ride competitors continue to duke it out for market share by slashing prices. My wallet thanks them. But my brain has increasingly started to wonder: Where does it stop? And how good a business can these companies be over the long-term... In one of the most interesting rivalries to watch in tech right now, Uber, Lyft and even much...

Intel President Renée James at Fortune's Brainstorm conference. Photo by Kevin Moloney.

The Next Wave: Feeding the Corporate Tech Beast

By Jonathan Weber · Jul 18, 2014 7:24am PDT

ASPEN, Co.—At the Fortune Brainstorm conference in Aspen this week, one early-stage investor and loyal veteran of the tech conference circuit had a simple complaint: “Too many suits,” he grumbled, referring to what he perceived as an unusually large presence of big, old-line companies. One segment of the event felt like a... ASPEN, Co.—At the Fortune Brainstorm conference in Aspen this week, one early-stage...

Samsung Vice Chairman Jay Y. Lee at Sun Valley a year ago. Photo by Bloomberg.

Smartwatches Drive New Wedge Between Samsung, Google

By Jessica E. Lessin · Jul 17, 2014 10:11am PDT

Tensions between Google and Samsung are escalating again—this time over wearables. Last week, in a tense private meeting at the Allen & Co. conference in Sun Valley, Google CEO Larry Page told Samsung Vice Chairman Jay Y. Lee that he was frustrated Samsung was investing more in smartwatches running Samsung’s Tizen operating... Tensions between Google and Samsung are escalating again—this time over wearables. Last...

Silicon Valley Bank CEO Greg Becker. Photo by Bloomberg.

The Hidden Costs of Venture Debt

By Katie Benner · Jul 17, 2014 7:21am PDT

Silicon Valley Bank CEO Greg Becker. Photo by Bloomberg.

The Hidden Costs of Venture Debt

By Katie Benner · Jul 17, 2014 7:21am PDT

Biotech entrepreneurs are increasingly borrowing money rather than raising equity. So-called venture debt seems like a tempting option for all startups that need large up-front investments but will generate almost no revenue for many years. Companies say they’re attracted to the deals because debt doesn’t dilute existing... Biotech entrepreneurs are increasingly borrowing money rather than raising equity. So-called...

General Electric CIO Jamie Miller. Illustration by Matthew Vascellaro.

Q&A

Marching General Electric into the Cloud Era

By Jonathan Weber · Jul 16, 2014 12:34pm PDT

As senior vice president and chief information officer at General Electric, Jamie Miller has the daunting task of managing the sprawling industrial conglomerate’s transition to next-generation enterprise computing. Part of the task involves moving the company’s internal computing infrastructure to the cloud. Part of it involves providing better... As senior vice president and chief information officer at General Electric, Jamie Miller has the...

Google's Android chief, Sundar Pichai, introduces Android One in June. Photo by Bloomberg.

Google Plans India Ad Blitz in Smartphone Bid

By Amir Efrati · Jul 16, 2014 7:21am PDT

Google is planning a major spending effort on marketing its new Android One phones in India, in an ambitious play into a challenging but potentially huge market for smartphones. The company, which announced the new Android One specifications for phones targeted at the developing market in June, has told potential partners that it would... Google is planning a major spending effort on marketing its new Android One phones in India,...

Yahoo CEO Marissa Mayer. Photo by Bloomberg.

Yahoo Grabbed ‘Community’ from Hulu in Last-Minute Bid

By Tom Dotan · Jul 15, 2014 7:05am PDT

Yahoo made waves late last month when it paid tens of millions of dollars for a sixth season of the cancelled NBC sitcom “Community.” But previously-unreported backroom negotiations show how badly the company wanted the series, as it continues to pay top dollar for flashy video programming that, for now, generates little revenue. In... Yahoo made waves late last month when it paid tens of millions of dollars for a sixth season of...

Rakuten CEO Hiroshi Mikitani at Sun Valley, Idaho, last week.

Knocking Amazon Strategy, Rakuten CEO Bets on Messaging

By Amir Efrati · Jul 14, 2014 11:13am PDT

Rakuten CEO Hiroshi Mikitani at Sun Valley, Idaho, last week.

Knocking Amazon Strategy, Rakuten CEO Bets on Messaging

By Amir Efrati · Jul 14, 2014 11:13am PDT

Amazon.com has raised eyebrows by pursuing a strategy of launching smartphones, tablets and TV hardware to try to boost its shopping and video content. Hiroshi Mikitani, CEO of Japan-based Rakuten, Amazon’s e-commerce rival in Asia and elsewhere, thinks that strategy is misguided. In an exclusive interview on the sidelines of the Allen... Amazon.com has raised eyebrows by pursuing a strategy of launching smartphones, tablets and TV...

Snapchat CEO Evan Spiegel. Photo by TechCrunch.

Snapchat Pushes in New Directions as Usage Soars

By Eric Newcomer · Jul 14, 2014 7:48am PDT

The ephemeral messaging application Snapchat is entering a new phase. Long known primarily as a way for teens to share pictures without the permanence and seeming omniscience of Facebook, Snapchat is quickly evolving into a sophisticated multimedia messaging system and social network with a variety of features. Celebrities and big brand... The ephemeral messaging application Snapchat is entering a new phase. Long known primarily as a...

The ‘Page Doctrine’ and the Future of Google

By Jessica E. Lessin · Jul 11, 2014 12:40pm PDT

The part of the Allen & Company Sun Valley media and technology conference that outsiders don’t see isn’t glamorous. It’s an old, generally over-air-conditioned conference room where attendees gather to hear talks closed off from the media. The topics vary from year to year, but many of the names stay the same: Michael Bloomberg, Warren... The part of the Allen & Company Sun Valley media and technology conference that outsiders don...

John Hering, CEO of mobile security company Lookout. Photo by Bloomberg.

Consumer Tech Gets Little Love in Sun Valley

By Jessica E. Lessin and Amir Efrati · Jul 11, 2014 7:47am PDT

SUN VALLEY, Idaho—There’s a question buzzing around this week’s Allen & Co. media and technology conference: Where are all the new consumer technology companies? Sure, the CEOs from Google, Facebook and Twitter are in attendance as usual. But when it comes to the newly invited entrepreneurs—the ones whom Allen... SUN VALLEY, Idaho—There’s a question buzzing around this week’s Allen & Co....

IAC Chairman Barry Diller. Photo by Bloomberg.

In Sun Valley, Moguls Divided on TV Mergers

By Jessica E. Lessin · Jul 10, 2014 2:25pm PDT

IAC Chairman Barry Diller. Photo by Bloomberg.

In Sun Valley, Moguls Divided on TV Mergers

By Jessica E. Lessin · Jul 10, 2014 2:25pm PDT

SUN VALLEY, Idaho—The scuttlebutt heading into this year’s Allen & Co. media and technology conference was that the television programming industry is ripe for consolidation. Content needs scale, the theory goes, so someone will soon gobble up Time Warner, Discovery, Scripps and Viacom. The media was so primed for the story that... SUN VALLEY, Idaho—The scuttlebutt heading into this year’s Allen & Co. media and...

HomeAway CEO Brian Sharples. Photo by Bloomberg.

Bankers Eye Tech M&A Candidates

By Katie Benner · Jul 10, 2014 1:34pm PDT

Techland M&A is hot, even though the megadeal storm sweeping corporate America may not last forever. (See related story.) As deals continue apace, analysts and arbitrageurs alike want to know which companies are up for grabs. The Information’s first M&A “watch list” included cloud computing and ad-tech companies, which... Techland M&A is hot, even though the megadeal storm sweeping corporate America may not last...

Federal Reserve Chair Janet Yellen. Photo by Bloomberg.

Perfect Storm Boosting Megadeals May Be Short-Lived

By Katie Benner · Jul 10, 2014 7:35am PDT

With Apple’s $3 billion acquisition of Beats Electronics and huge telecom and cable company sales in the works, a megadeal storm has hit techland. But one technical ingredient that has fueled big deals may begin to dry up: ultra-low interest rates. We could already be seeing the effects of a gradual shift in the Federal... With Apple’s $3 billion acquisition of Beats Electronics and huge telecom and cable company...

Evolve Media CEO Brian Fitzgerald. Illustration by Matthew Vascellaro.

Q&A

Going Big with Small Digital Publishers

By Tom Dotan · Jul 9, 2014 2:13pm PDT

Brian Fitzgerald has the unenviable task of telling media entrepreneurs their businesses will never be hits. And then he presents them with an offer: Join us. That’s the corporate strategy for his digital media conglomerate, Evolve Media. The company was founded as Gorilla Nation Media in 2000 and had its biggest hit in 2012 when it sold its... Brian Fitzgerald has the unenviable task of telling media entrepreneurs their businesses will...

Facebook CEO Mark Zuckerberg. Photo by Bloomberg.

Facebook Accelerates Off-Platform Ad Efforts

By Tom Dotan · Jul 9, 2014 8:34am PDT

Facebook CEO Mark Zuckerberg. Photo by Bloomberg.

Facebook Accelerates Off-Platform Ad Efforts

By Tom Dotan · Jul 9, 2014 8:34am PDT

Facebook’s recent acquisition of a pair of ad tech companies shows how the social networking giant hopes to tackle one of its biggest long-term challenges: using its trove of personal data to sell advertising not just on Facebook, but across the Internet. Facebook’s recent acquisition of a pair of ad tech companies shows how the social...

Media investor Peter Chernin. Photo by Bloomberg.

Coming Soon: The Incredible Shrinking Video Bundle

By Jessica E. Lessin and Amir Efrati · Jul 8, 2014 8:26am PDT

Years after tech prognosticators said Web video would kill the cable bundle, the traditional subscription television service is proving resilient. U.S. paid television subscribers actually increased by a few hundred thousand in the first quarter of the 2014 compared to the first quarter of 2013. Rather than wrecking the bundle,... Years after tech prognosticators said Web video would kill the cable bundle, the traditional...

Apple Maps Engineer Moving to Uber

By Jessica E. Lessin · Jul 8, 2014 7:39am PDT

Uber has poached Chris Blumenberg, a senior engineering manager who worked on Apple Maps, according to three people familiar with the move. Blumenberg was one of the first engineers to work on the iPhone software and was a senior leader on Apple’s iOS team. Apple Maps has had some turnover since its very buggy launch in 2012.... Uber has poached Chris Blumenberg, a senior engineering manager who worked on Apple Maps,...

Box CEO Aaron Levie. Photo by Bloomberg.

Box’s Cash Burn Continues as New Funding Lands

By Katie Benner · Jul 7, 2014 6:26pm PDT

For investors interested in the much-anticipated public offering of cloud-storage firm Box, the company’s amended financial filings aren’t pretty, painting a picture of a company that’s burning through money as fast as ever. Investors staunchly stand by Box. The company was forced to delay its IPO this spring due to... For investors interested in the much-anticipated public offering of cloud-storage firm Box,...

YouTube chief Susan Wojcicki. Photo by TechCrunch.

YouTube Revenue Lags Forecasts as Competition Mounts

By Amir Efrati · Jul 7, 2014 8:33am PDT

YouTube chief Susan Wojcicki. Photo by TechCrunch.

YouTube Revenue Lags Forecasts as Competition Mounts

By Amir Efrati · Jul 7, 2014 8:33am PDT

In the fall of 2012, then-YouTube CEO Salar Kamangar and his lieutenants set an audacious goal: increase the collective “watch time” for YouTube videos by an order of magnitude, to a billion hours per day, by the end of 2016. That would represent about 20% of all the time people spend watching television. The billion-hour target, employees were... In the fall of 2012, then-YouTube CEO Salar Kamangar and his lieutenants set an audacious goal:...