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

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Friday Newsletter

Grandmaster Larry Page

By Jessica E. Lessin · Jan 31, 2014 1:20pm PST

If it wasn’t clear that Larry Page is playing—and winning—a game of chess against the rest of the technology industry, it has become clear in the past two weeks. The Google CEO took aim at Apple and upgraded its entire hardware strategy by ditching struggling Motorola and buying Nest Labs, the thermostat company loaded with Apple alumni. And he... If it wasn’t clear that Larry Page is playing—and winning—a game of chess against the rest of the...

Credit: Bill Grado via Flickr

Next on Google’s Shopping List: Wearables

By Jessica E. Lessin and Amir Efrati · Jan 30, 2014 4:02pm PST

Nest Labs for $3.2 billion. DeepMind Technologies for $550 million. Which company will Google buy next? The tech giant has been studying wearable technology companies to acquire, according to three people briefed on the internal discussions. It isn't clear whether the studying has led to formal talks and which companies Google is... Nest Labs for $3.2 billion. DeepMind Technologies for $550 million. Which company will Google buy...

Silicon Valley’s Cyber Guy: Ted Schlein Speaks

By Katie Benner · Jan 30, 2014 7:40am PST

The relationship between technology companies and the government is complicated, to say the least. Ted Schlein, a 17-year veteran of Kleiner Perkins Caufield & Byers, where he is a general partner, is one of the men in the middle. Technology companies’ distrust of government agencies seeking data about consumers for national security... The relationship between technology companies and the government is complicated, to say the...

Attendees at technology workspace Makerspace in Beijing. Source: Mitch Altman

‘BATS’ Breed New China Entrepreneurs

By Eric Newcomer · Jan 29, 2014 6:59am PST

Attendees at technology workspace Makerspace in Beijing. Source: Mitch Altman

‘BATS’ Breed New China Entrepreneurs

By Eric Newcomer · Jan 29, 2014 6:59am PST

In Silicon Valley, it can seem like every other startup founder has Google, Apple or Facebook on his or her resume. China is starting to see its own spin on the trend. A growing group of entrepreneurs are breaking away from the country’s growing tech behemoths: Baidu, Alibaba Group Holding, Tencent Holdings and Sina. Venture capitalists... In Silicon Valley, it can seem like every other startup founder has Google, Apple or Facebook on...

Apple

Apple's Product Problem

By Jessica E. Lessin · Jan 28, 2014 12:15pm PST

Warning signs emerged for Apple investors this week when the company said its hot new iPhone 5C didn’t sell as expected and sales for the current quarter could be weak. But investors who want to understand the company for the long-term should focus on another potential problem. This one isn’t with individual products, like the iPhone... Warning signs emerged for Apple investors this week when the company said its hot new iPhone 5C...

Max Morse/TechCrunch via Flickr

How Alibaba Helps Yahoo Mask Business Woes

By Amir Efrati · Jan 28, 2014 11:34am PST

Alibaba Group Holding, the Chinese e-commerce giant, has done a lot more for Yahoo than boost the company’s stock price by 80% over the past year. Royalties that Alibaba paid to Yahoo for continuing to use the Web brand’s name on some Chinese websites, among other things, also made Yahoo’s deteriorating core business seem... Alibaba Group Holding, the Chinese e-commerce giant, has done a lot more for Yahoo than boost the...

What’s Really Behind Google’s DeepMind Bet

By Amir Efrati · Jan 27, 2014 2:18pm PST

Google’s acquisition of DeepMind Technologies for more than half a billion dollars might seem like a gross overpayment. The startup doesn’t have any commercial products and its main assets were its people, including several dozen experts in machine learning, a branch of artificial intelligence that tries to teach computers to think the way... Google’s acquisition of DeepMind Technologies for more than half a billion dollars might seem...

Aggressive Tech Activists Aren’t Benefitting Stocks

By Katie Benner · Jan 27, 2014 7:53am PST

Aggressive Tech Activists Aren’t Benefitting Stocks

By Katie Benner · Jan 27, 2014 7:53am PST

Technology companies are increasingly in activist investors’ crosshairs. But on average, the target companies’ share prices have little to show for it. Of the thirteen most high-profile battles between technology companies and activist hedge funds over the past two years, only six of the target companies saw their shares rise... Technology companies are increasingly in activist investors’ crosshairs. But on average,...

Google Beat Facebook for DeepMind, Creates Ethics Board

By Amir Efrati · Jan 26, 2014 7:26pm PST

Google, which is acquiring DeepMind Technologies, has agreed to establish an ethics board to ensure the artificial intelligence technology isn't abused, according to two people familiar with the deal. The unusual step of establishing the ethics committee comes as Google, which is paying more than $500 million to acquire the company, won... Google, which is acquiring DeepMind Technologies, has agreed to establish an ethics board to...

Friday Newsletter

When Netflix Goes Dark

By Jessica E. Lessin · Jan 24, 2014 2:06pm PST

It’s the year 2020. There’s a big new show about to premiere to millions of homes. And executives from the media company that made the program and the service provider that is distributing it to viewers are at loggerheads over their distribution agreement. They are locked in a conference room trying to reach a 11th-hour deal to... It’s the year 2020. There’s a big new show about to premiere to millions of homes....

More Top Cybersecurity Investors: Old and New

By Katie Benner · Jan 23, 2014 6:13am PST

When it comes to building cyber defenses, the government and entrepreneurs are fast becoming bedfellows. A decade ago, the two camps barely interacted. Today, they are working together closely. As attackers get more sophisticated, the public and private sectors need intelligence from each other. They also need similar tools, such... When it comes to building cyber defenses, the government and entrepreneurs are fast becoming...

Credit: Sequoia Capital

In Venture Race to China, IPOs Lag

By Eric Newcomer · Jan 22, 2014 5:41pm PST

Credit: Sequoia Capital

In Venture Race to China, IPOs Lag

By Eric Newcomer · Jan 22, 2014 5:41pm PST

U.S. venture capital firms have rushed to cash in on China. But by at least one key measure, exits to initial public offerings, they are having limited success. Since 2005, 217 Chinese VC-backed technology companies have filed to go public, according to data from Thomson Reuters. But despite a bevy of Silicon Valley firms opening up China-based... U.S. venture capital firms have rushed to cash in on China. But by at least one key measure,...

Cybersecurity's Money Men

By Katie Benner · Jan 21, 2014 8:01am PST

Mounting data and national security threats have transformed cybersecurity investing from a relative backwater into a robust field in which public offerings can provide a handsome return. Companies that predict when and where hackers will attack and ward them off—including FireEye, Barracuda Networks, AVG, Proofpoint, Qualys and Palo Alto... Mounting data and national security threats have transformed cybersecurity investing from a...

Credit: Matt Vascellaro

In Washington, ‘Anarchist’ Bitcoin Puts on a Tie

By Eric Newcomer · Jan 20, 2014 5:55am PST

In late August, roughly 100 government regulators filed into a closed-door, blinds-drawn meeting on the first floor of a commercial office building in DC. Behind a faux-wood folding table sat three lawyers and an entrepreneur. The quartet help run something of an oxymoron: a non-profit corporation that organizes a top-down, businesslike pitch... In late August, roughly 100 government regulators filed into a closed-door, blinds-drawn meeting...

Credit: Matt Vascellaro

Software Engineers: The Scorecard

By Eric Newcomer · Jan 17, 2014 7:18am PST

Software engineers are high-value, high-priced hires for young technology companies. Many upstarts, therefore, struggle with how many software engineers they should hire and how quickly. Startups are known for having a high percentage of software engineers—and scrambling to compete for the high-caliber... Software engineers are high-value, high-priced hires for young technology companies....

By Matt Vascellaro · Jan 16, 2014 4:40pm PST

By Matt Vascellaro · Jan 16, 2014 4:40pm PST

Technology Activists Turn to Software Veteran

By Katie Benner · Jan 16, 2014 10:25am PST

Activist investors have been taking on big names like Apple and Yahoo. But some prominent agitators are turning their attention to smaller fare. Daniel Loeb has built a sizable stake in Tibco Software, a Palo Alto-based company that makes a range of products, including software that lets retailers target shoppers. He and others eyeing Tibco see... Activist investors have been taking on big names like Apple and Yahoo. But some prominent...

Kampala, Uganda Credit: Todd Huffman

Google Goes Wireless in Race to Connect Africa

By Amir Efrati · Jan 15, 2014 5:11pm PST

Google is upping the ante in the race to deliver Internet to the developing world. In the process, it is vying with Facebook, Microsoft and others to strike partnerships with local telecom companies to try to bring new populations and revenue online. In a previously undisclosed move, Google has discussed plans to launch a wireless Internet... Google is upping the ante in the race to deliver Internet to the developing world. In the...

Christopher Penler / Shutterstock.com

VCs Partying Like It's... 2004

By Amir Efrati · Jan 14, 2014 2:38pm PST

The IPO market is signaling that the technology boom has more runway. By several measures, the 2013 IPO market looked like 2004, which saw several big offerings including Google’s. The market held up for several years before the 2008 downturn. The IPO market is signaling that the technology boom has more runway. By several measures, the...

Nest Labs CEO Tony Fadell Credit: LeWeb

Nest’s Google Tie-Up Signals Hardware is Still Hard

By Jessica E. Lessin · Jan 14, 2014 12:29pm PST

Nest Labs CEO Tony Fadell Credit: LeWeb

Nest’s Google Tie-Up Signals Hardware is Still Hard

By Jessica E. Lessin · Jan 14, 2014 12:29pm PST

Nest Labs’s decision to sell to Google rather than build its business alone should be a cautionary tale for the technology industry’s flood of hardware hopefuls. Of course, the $3.2 billion acquisition price is a generous amount for the three-year-old startup, which makes thermostats and smoke detectors that can be controlled... Nest Labs’s decision to sell to Google rather than build its business alone should be a...