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

Satya Nadella, Sam Altman and Tim Cook. Photos via Getty.

Microsoft and Apple Ditch OpenAI Board Observer Roles

By Martin Peers · Jul 10, 2024 5:00pm PDT · 1 comment

Phil Schiller may be wondering what he did wrong. Just over a week after we learned that Apple would get a board observer position at OpenAI—to be filled by Schiller—those plans are off. Microsoft meanwhile is also giving up its OpenAI board observer role, saying it was no longer necessary. Were the board meetings that boring? (Kidding!)While... Phil Schiller may be wondering what he did wrong. Just over a week after we learned that Apple...

Photos by Getty

Oracle Loses Out to Musk’s Impatience

By Martin Peers · Jul 9, 2024 5:00pm PDT

Elon Musk appears to be a firm believer in the saying “If you want something done right, do it yourself.” He signaled that today in a post on X, as he confirmed our scoop that his artificial intelligence startup, xAI, had decided to build its own AI data center rather than getting Oracle to do it.Musk explained, “When our fate depends on being... Elon Musk appears to be a firm believer in the saying “If you want something done right, do it...

David Ellison. Photo by Getty.

How the Ellisons Are Ending the Redstone Family’s Value-Destroying Paramount Era

By Martin Peers · Jul 8, 2024 5:00pm PDT

Larry Ellison is having quite the summer. First Oracle scores a deal with OpenAI and Microsoft to help handle OpenAI’s workloads. And now Ellison’s son, David, has struck a deal to buy Paramount Global, owner of CBS and Paramount Pictures, a purchase the elder Ellison is partly financing. Larry Ellison’s Hollywood footprint is growing.David... Larry Ellison is having quite the summer. First Oracle scores a deal with OpenAI and Microsoft to...

President Joe Biden. Photo via AP.

Biden’s Business Donors Are Caught in a Bind

By Cory Weinberg · Jul 5, 2024 2:30pm PDT

President Joe Biden. Photo via AP.

Biden’s Business Donors Are Caught in a Bind

By Cory Weinberg · Jul 5, 2024 2:30pm PDT

Another day, another barrage of stories about fretful Democratic donors, worried Democratic insiders and a defiant reelection campaign from President Joe Biden. If you’re a liberal Silicon Valley or Hollywood type with strong Biden allegiances and political proclivities, you may find yourself stuck between two playbooks used in business.One... Another day, another barrage of stories about fretful Democratic donors, worried Democratic...

The Saks Fifth Avenue department store in New York. Photo by Bloomberg via Getty.

Amazon’s Luxury Deal Poses a Quandary for FTC

By Martin Peers · Jul 3, 2024 3:30pm PDT · 3 comments

Andy Jassy has a July 4 gift for Federal Trade Commission chair Lina Khan. Amazon is, according to The Wall Street Journal, planning to back HBC, owner of the Saks department store chain, in the acquisition of rival upscale chain Neiman Marcus. Yes, that’s right. The online retailing goliath, blamed by many for crushing old-fashioned... Andy Jassy has a July 4 gift for Federal Trade Commission chair Lina Khan. Amazon is, according...

Andy Jassy. Photo by Jerod Harris/Getty Images.

Amazon’s Stock Record as Jassy Approaches Three-Year CEO Anniversary

By Martin Peers · Jul 2, 2024 4:59pm PDT

Happy anniversary, Andy Jassy! Well, almost. On Friday, the Amazon CEO will celebrate the third anniversary of his ascension to the top job. And this year Jassy has something to really celebrate.Amazon’s stock closed today at $200, its highest point ever. It’s also 14% higher than when Jassy took the reins, which might not sound like a lot but,... Happy anniversary, Andy Jassy! Well, almost. On Friday, the Amazon CEO will celebrate the third...

The European Commission’s Margrethe Vestager and Thierry Breton in March. Photo by Kenzo Tribouillard/AFP via Getty.

Meta Falls Afoul of Europe’s Regulators

By Martin Peers · Jul 1, 2024 5:00pm PDT · 1 comment

Maybe tech companies need to put European regulators on their boards! The European Commission on Monday added Meta Platforms to the list of companies that are not complying with its new Digital Markets Act. The agency doesn’t like the fact that Meta is giving Europeans the choice of either paying a subscription fee for Facebook and Instagram, or... Maybe tech companies need to put European regulators on their boards! The European Commission on...

Photo by AP Photo/John Bazemore.

The Pros and Cons of a Second Trump Term for Tech

By Martin Peers · Jun 28, 2024 3:30pm PDT · 16 comments

Photo by AP Photo/John Bazemore.

The Pros and Cons of a Second Trump Term for Tech

By Martin Peers · Jun 28, 2024 3:30pm PDT · 16 comments

After Thursday night’s presidential debate, the prospects of another Donald Trump administration seem, well…inevitable. (Don’t shoot the messenger!) For tech folks, that heralds a friendlier regulatory regime toward crypto for sure and probably also toward tech M&A, given the freeze imposed on even the tiniest of deals by President Joe Biden... After Thursday night’s presidential debate, the prospects of another Donald Trump administration...

The Washington Post's headquarters in Washington D.C. Photo via Shutterstock.

The Washington Post and the Ugly Truth of the Media Business

By Jessica E. Lessin · Jun 27, 2024 5:00pm PDT

This morning, I read Brian Stelter’s just-published opus in The Atlantic on the travails of The Washington Post and its owner, Jeff Bezos, with much interest.The paper’s business struggles and leadership crisis are a constant closed-door subject among news leaders right now. The piece is excellent and full of details about Bezos’ hands-off... This morning, I read Brian Stelter’s just-published opus in The Atlantic on the travails of The...

Kirsten Dunst at the premiere of A24's Civil War earlier this year. Photo by Eric Charbonneau/Getty Images.

What Thrive Capital’s A24 Investment Means for Hollywood and AI

By Kate Clark · Jun 26, 2024 5:00pm PDT

I'd prefer that artificial intelligence stay out of filmmaking, but like any other industry, AI is bound to disrupt Hollywood, especially if it’s left up to venture capitalists. News this morning proves it. Independent film studio A24 announced that it has raised money from New York venture capital firm Thrive Capital, run by Josh Kushner—... I'd prefer that artificial intelligence stay out of filmmaking, but like any other industry, AI...

Riders exit a Waymo self-driving car in front of Google's San Francisco headquarters. Photo by Smith Collection/Gado/Getty Images.

Why Waymo’s Accelerating Progress Deserves More Attention

By Martin Peers · Jun 25, 2024 5:00pm PDT · 2 comments

And now for some good news. Self-driving cars, after more than a decade of overhyped chatter, are actually getting somewhere.Waymo, Alphabet’s self-driving car unit, on Tuesday extended its robotaxi service to everyone in San Francisco, four years after it made a similar move in Phoenix. Also on Tuesday, Uber Freight and Aurora announced that... And now for some good news. Self-driving cars, after more than a decade of overhyped chatter, are...

Margrethe Vestager, Executive Vice President of the European Commission for A Europe Fit for the Digital Age. Photo by Thierry Monasse/Getty Images.

Europe-U.S. Tech Regulatory Battle Opens New Front

By Martin Peers · Jun 24, 2024 5:00pm PDT · 1 comment

Margrethe Vestager, Executive Vice President of the European Commission for A Europe Fit for the Digital Age. Photo by Thierry Monasse/Getty Images.

Europe-U.S. Tech Regulatory Battle Opens New Front

By Martin Peers · Jun 24, 2024 5:00pm PDT · 1 comment

Students of history will recall the Hundred Years’ War between England and France in the 1300s and 1400s. It feels like we’re in the early stages of a second Hundred Years’ War, this time pitting U.S. tech firms against the European Commission.On Monday, the commission opened a new front in that war by issuing “preliminary findings” that Apple... Students of history will recall the Hundred Years’ War between England and France in the 1300s...

Photo by Pierre Crom/Getty Images.

Apple Throws Down the Gauntlet to European Regulators

By Martin Peers · Jun 21, 2024 3:00pm PDT · 10 comments

Will Europeans start to regret their governments’ aggressive regulation of U.S. tech? That’s surely going to be a question sparked by Apple’s decision today to withhold a bunch of attractive new technologies—such as its artificial intelligence–powered offerings—from its products in Europe, citing the continental rules on how tech firms operate.... Will Europeans start to regret their governments’ aggressive regulation of U.S. tech? That’s...

Daniela Amodei, co-founder and president of Anthropic. Photo by Bloomberg via Getty Images.

Why Picking an AI Chatbot Might Require Help From a Chatbot

By Martin Peers · Jun 20, 2024 5:00pm PDT · 1 comment

Artificial intelligence companies increasingly seem to have adopted a product marketing approach modeled on that of cellphone plans. Anyone who uses Verizon should know what I mean: The cellphone firm has long offered an evolving array of plans, each with a slightly different name and offering slightly different options, forcing customers to... Artificial intelligence companies increasingly seem to have adopted a product marketing approach...

Jensen Huang, CEO of Nvidia (center), and Antonio Nero, CEO of Hewlett Packard Enterprise Co. (left), take a photo with an attendee of today's HPE Discover Event at the Sphere in Las Vegas. Photo by Ian Maule/Bloomberg via Getty Images.

Nvidia Passes Microsoft in Value, Heightening Risks

By Martin Peers · Jun 18, 2024 5:00pm PDT

Nvidia is No. 1! A 3.5% rally in the artificial intelligence chipmaker’s stock on Tuesday, as most other tech stocks fell, catapulted its market capitalization above that of both Microsoft and Apple for the first time. It ended the day worth $3.34 trillion, while Microsoft was valued at $3.31 trillion and Apple was at $3.29 trillion. Those are... Nvidia is No. 1! A 3.5% rally in the artificial intelligence chipmaker’s stock on Tuesday, as...

U.S. Surgeon General Vivek Murthy speaking at a hearing on youth and mental health last June. Photo by Anna Moneymaker/Getty Images.

Social Media Can’t Ignore Kids’ Mental Health Issues Forever

By Martin Peers · Jun 17, 2024 5:00pm PDT

U.S. Surgeon General Vivek Murthy speaking at a hearing on youth and mental health last June. Photo by Anna Moneymaker/Getty Images.

Social Media Can’t Ignore Kids’ Mental Health Issues Forever

By Martin Peers · Jun 17, 2024 5:00pm PDT

Call me crazy, but a product that has to carry a health warning label seems like it might have a bit of a problem attracting customers. And yet that’s the situation social media platforms—such as Meta Platforms’ Instagram and Facebook, Snap’s Snapchat and TikTok— might be in if the surgeon general has his way. As he opined in this New York Times... Call me crazy, but a product that has to carry a health warning label seems like it might have a...

Craig Federighi, Apple's SVP of Software Engineering. Screenshot via Apple.

AI’s Real Promise Isn’t in Fun iPhone Features

By Martin Peers · Jun 14, 2024 4:00pm PDT · 1 comment

We’re living in a world of AI-powered news. No, I don’t mean large-language models are writing news reports—just the opposite. In tech business news, at least, AI is the thread that runs through most everything nowadays. Apple’s AI presentation on Monday drove this week’s news cycle, while the other big story of the week, Tesla’s shareholder... We’re living in a world of AI-powered news. No, I don’t mean large-language models are writing...

Photo by Patrick T. Fallon via Getty Images.

Musk’s Vote Win Is Far From the End of the Pay Battle

By Becky Peterson · Jun 13, 2024 5:00pm PDT · 1 comment

We’ve got good news and bad news on the story that has dominated Tesla coverage for weeks, the shareholder vote on Elon Musk’s pay package. The good news is we have a decision—as Musk posted late Wednesday, shareholders approved his $46 billion pay package. The bad news, at least for those shareholders hoping for a resolution, is that the vote... We’ve got good news and bad news on the story that has dominated Tesla coverage for weeks, the...

Photo by Bloomberg via Getty Images.

Apple’s AI Storytelling Casts a Spell on Investors

By Martin Peers · Jun 12, 2024 5:00pm PDT

What a difference a snazzy presentation makes! Apple regained its status as the most valuable company for a few hours on Wednesday as its stock rallied for the second day in a row following its Monday artificial intelligence revelations. By day’s end, though, investors seemed to realize they’d gone overboard. Apple stock fell back from its... What a difference a snazzy presentation makes! Apple regained its status as the most valuable...

Photo by Sven Hoppe/picture alliance via Getty Images.

Oracle Feeds Off AI Leftovers

By Martin Peers · Jun 11, 2024 5:00pm PDT

Photo by Sven Hoppe/picture alliance via Getty Images.

Oracle Feeds Off AI Leftovers

By Martin Peers · Jun 11, 2024 5:00pm PDT

Talk about fighting for crumbs. Microsoft and OpenAI announced Tuesday that they’ll tap Oracle’s cloud servers for “additional capacity for OpenAI.” That counts as great news for Oracle, sending its stock up 9% in after-hours trading. Investors overlooked the fact that Oracle also reported Tuesday that its cloud revenue growth slowed by several... Talk about fighting for crumbs. Microsoft and OpenAI announced Tuesday that they’ll tap Oracle’s...