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

Art by Shane Burke.

Peloton’s Amazon Deal Could Be Prelude to Acquisition

By Martin Peers · Aug 24, 2022 5:00pm PDT

Peloton may have found its white knight. The fitness equipment maker’s decision to start selling its bike and other accessories through Amazon could be a first step toward Amazon buying the entire company. Certainly that seems to be investors’ interpretation—how else can one explain the 20% lift Peloton stock got on the news? Peloton management... Peloton may have found its white knight. The fitness equipment maker’s decision to start selling...

Peiter "Mudge" Zatko at a Stripe keynote in 2019. Photo courtesy of YouTube.

Musk Welcomes a Whistleblower

By Jessica E. Lessin · Aug 23, 2022 6:00pm PDT · 1 comment

Of the many things that can be said about Elon Musk, one that I often return to is that he is really a CEO for the people. By that, I mean he’s an executive whose image is perpetually shaped and bolstered by the masses who adore him, look up to him or are in other ways obsessed by him. And so it is somewhat fitting that he appeared to... Of the many things that can be said about Elon Musk, one that I often return to is that he is...

Amazon CEO Andy Jassy in June. Photo by Bloomberg

Amazon’s M&A Blitz Presents Challenges for FTC

By Martin Peers · Aug 22, 2022 5:00pm PDT

We’re learning how Amazon plans to deal with Federal Trade Commission Chair Lina Khan’s anti–tech acquisition policy—by striking so many deals that the FTC will have a hard time fighting them all. You could call it the whack-a-mole M&A strategy. That’s one interpretation of Sunday’s news that Amazon is a bidder for Signify Health, a health... We’re learning how Amazon plans to deal with Federal Trade Commission Chair Lina Khan’s anti–tech...

Sequoia Capital's office in Menlo Park, Calif.

Sequoia, Andreessen and Bessemer’s Beating and Snap’s Selfie Drone

By Nick Wingfield · Aug 18, 2022 5:25pm PDT

Sequoia Capital's office in Menlo Park, Calif.

Sequoia, Andreessen and Bessemer’s Beating and Snap’s Selfie Drone

By Nick Wingfield · Aug 18, 2022 5:25pm PDT

Is anybody else pumped for some appointment streaming this weekend? The first episode of HBO’s “House of Dragon,” the hotly anticipated prequel series to “Game of Thrones,” premieres Sunday night. Then, 12 days later, Amazon will debut its own fantasy series, “The Lord of the Rings: The Rings of Power,” on Sept. 2. It’s fair to say HBO and... Is anybody else pumped for some appointment streaming this weekend? The first episode of HBO’s “...

Photo by Bloomberg

Why Prices Do—and Should—Go Up

By Jessica E. Lessin · Aug 16, 2022 5:00pm PDT

I had a lot of fun chatting this afternoon with The Information corporate subscribers who participated in our predictions call for the second half of 2022. Amir, Laura, Meredith and I covered a lot of ground on what we expect with tech initial public offerings, debt deals, new headwinds in crypto regulations and enterprise spending. If you... I had a lot of fun chatting this afternoon with The Information corporate subscribers who...

Shouzi Chew, CEO of TikTok, in February. Photo by Bloomberg

TikTok’s Ad Business Is Giving Us Déjà Vu

By Jessica E. Lessin · Aug 11, 2022 5:00pm PDT

First, some news about us! I am thrilled to share that we’ve hired Karl Wells—who has been running the subscription business at Dow Jones and The Wall Street Journal—as our first chief commercial officer. Joe Pompeo broke the news for Vanity Fair. I’m really proud of how we’ve driven the conversation in tech journalism these past eight and... First, some news about us! I am thrilled to share that we’ve hired Karl Wells—who has been...

Coinbase CEO Brian Armstrong in India in April. Photo by Bloomberg

Coinbase Takes It in the Teeth

By Jessica E. Lessin · Aug 9, 2022 5:01pm PDT

How is this for a head-scratcher? Gaming software maker AppLovin made an unsolicited offer to buy Unity Software in an all-stock deal worth more than $17.5 billion, with one unusual condition: Unity must abandon an existing agreement to acquire an AppLovin competitor called IronSource.I’ll buy you if you don’t buy our competitor—I suppose we... How is this for a head-scratcher? Gaming software maker AppLovin made an unsolicited offer to buy...

David Zaslav. Photo by AP.

David ‘Option Value’ Zaslav and Tech’s Misguided Quest for ‘Efficiency’

By Jessica E. Lessin · Aug 4, 2022 5:00pm PDT · 1 comment

David Zaslav. Photo by AP.

David ‘Option Value’ Zaslav and Tech’s Misguided Quest for ‘Efficiency’

By Jessica E. Lessin · Aug 4, 2022 5:00pm PDT · 1 comment

I have so many thoughts today, I am not sure where to begin. First, I continue to be amused by all the CEOs publicly talking about the need to make their companies and teams more “efficient” and productive. We saw it again today when Google CEO Sundar Pichai announced “Simplicity Sprints”—new ways for Googlers to reduce corporate waste. I... I have so many thoughts today, I am not sure where to begin. First, I continue to be amused by...

Photo by Bloomberg

More Tech Earnings and the ‘Duh’ Economy

By Jessica E. Lessin · Aug 2, 2022 5:33pm PDT

The high-flying pandemic darlings have crashed back to earth (Netflix, Zoom, Shopify). It seems only right that the companies hit worst by the pandemic should start to show signs of life again. And indeed, that’s what happened today. Uber’s ride business grew 55%. That’s wonderful news because it turns out the driver side of the business is... The high-flying pandemic darlings have crashed back to earth (Netflix, Zoom, Shopify). It seems...

Apple CEO Tim Cook in June. Photo by Bloomberg

Apple and Amazon’s Not So Horrible Day

By Jessica E. Lessin · Jul 28, 2022 5:05pm PDT

Today was a big day of winners and losers in tech. Losers: a defensive Instagram that walked back a controversial redesign test only a day or so after defending it. (I guess the data jibed with the views of the Kardashians, who panned it.) And then there is Intel, a company that wins points for most honest reaction to a truly poor earnings... Today was a big day of winners and losers in tech. Losers: a defensive Instagram that walked back...

Microsoft CEO Satya Nadella in May. Photo by Bloomberg

The Microsoft-Alphabet Misses That Didn’t Matter

By Jessica E. Lessin · Jul 26, 2022 5:49pm PDT

Two stalwarts of the tech sector—Microsoft and Google’s parent company Alphabet—found different ways to put lipstick on a pig with their financial results on Tuesday. Both companies whiffed on their financial results for the quarter ended June 30. But both of them ended up seeing their shares rise by roughly the same percentage in after-hours... Two stalwarts of the tech sector—Microsoft and Google’s parent company Alphabet—found different...

Snap CEO Evan Spiegel. Photo by Bloomberg

Amazon’s Health Dreams and Snap’s Headwinds

By Jessica E. Lessin · Jul 21, 2022 5:00pm PDT

Snap CEO Evan Spiegel. Photo by Bloomberg

Amazon’s Health Dreams and Snap’s Headwinds

By Jessica E. Lessin · Jul 21, 2022 5:00pm PDT

In a day full of headlines, this one stood out: After reporting disastrous financial results, Snap CEO Evan Spiegel said he and his chief technology officer Bobby Murphy are sticking around until at least 2027. That gives them enough time to build all their drones! All kidding aside, I suppose CEOs are doing everything they can these days to... In a day full of headlines, this one stood out: After reporting disastrous financial results,...

A Netflix advertisement in New York earlier this year. Photo by Bloomberg

Hastings Said It Best: Netflix’s Quarter Was ‘Less Bad’

By Jessica E. Lessin · Jul 19, 2022 5:51pm PDT

Elon loses round one. On Tuesday, the billionaire was swiftly defeated in a tussle over the timing of a trial that will determine whether he should be forced to buy Twitter, with the judge greenlighting an October start date. That’s far sooner than Team Musk—which says it needs time to conduct discovery—wanted. Judge Kathaleen McCormick didn’t... Elon loses round one. On Tuesday, the billionaire was swiftly defeated in a tussle over the...

Netflix co-CEO Reed Hastings in 2019. Photo by Bloomberg

Why Netflix’s Microsoft Partnership May Not Be Enough

By Jessica E. Lessin · Jul 14, 2022 5:00pm PDT

Seems like another founder is reading The Information! Last week, we wrote about companies slashing their internal valuations to gain a recruiting edge. And now Stripe seems to have done just that. But don’t shed a tear for the payments company and its investors just yet: The valuation a company sets for employee compensation isn’t... Seems like another founder is reading The Information! Last week, we wrote about companies...

Photo by AP

Tech Investor Anxieties May Be Overblown

By Jessica E. Lessin · Jul 12, 2022 5:10pm PDT · 2 comments

It’s a big day here at The Information. We’ve launched a brand-new set of tools to help our subscribers connect and share content. You can read what others are saying about them here. Here’s the gist: The Information’s outstanding subscriber base includes some of the most important individuals in tech, but these days online networking is a... It’s a big day here at The Information. We’ve launched a brand-new set of tools to help our...

Photo by Bloomberg

Can Musk Shake Up Sun Valley?

By Jessica E. Lessin · Jul 7, 2022 5:15pm PDT

Photo by Bloomberg

Can Musk Shake Up Sun Valley?

By Jessica E. Lessin · Jul 7, 2022 5:15pm PDT

You have to love a jam-packed summer news day. The maestro behind Masayoshi Son’s tech investing—Rajeev Misra—is leaving SoftBank’s Vision Fund. This is a big deal. Misra is notorious for his rough-and-tumble tactics, including allegedly trying to oust his own colleague. His departure basically completes the exodus there. What will Masa do? It’s... You have to love a jam-packed summer news day. The maestro behind Masayoshi Son’s tech investing—...

Art by Mike Sullivan

Why New Mega Funds Don’t Necessarily Mean Mega Deals

By Jessica E. Lessin · Jul 5, 2022 5:11pm PDT

I’m baaack. You didn’t think I could stay away from writing for too long, did you? It’s been a period of rapid growth for The Information, and I have been quite busy. But the news in tech, finance and media lately is just too crazy for me to sit on the sidelines, so I’m taking over our evening Briefing newsletter, with help from the wonderful... I’m baaack. You didn’t think I could stay away from writing for too long, did you? It’s been a...

Netflix co-CEO Reed Hastings. Photo by Bloomberg.

How Netflix Can Regain Momentum

By Martin Peers · Jul 1, 2022 3:00pm PDT

We’re now just a couple of weeks away from the second-quarter earnings reporting season. And if history is any guide, first out of the gate will be Netflix’s report on July 19, which is likely to be one of the most closely watched tech earnings updates of the quarter. Netflix’s first-quarter report, revealing a tiny drop in subscribers and... We’re now just a couple of weeks away from the second-quarter earnings reporting season. And if...

Ron Johnson. Photo by Bloomberg.

Ugly Quarter for Crypto and Tech Stocks Ends; No Joy for Ron Johnson

By Martin Peers · Jun 30, 2022 5:00pm PDT

Tonight we’re closing the books on the second quarter of 2022, a period no one is likely to mourn. The stock market’s slide turned into a collapse. Bitcoin prices tumbled off a cliff. Layoffs took off. SPAC mergers fell apart. And even the lively business news event that started the quarter, Elon Musk’s investment in and subsequent bid for... Tonight we’re closing the books on the second quarter of 2022, a period no one is likely to...

Uber's San Francisco office. Photo by Bloomberg.

Uber’s Blast from the Past

By Martin Peers · Jun 29, 2022 5:00pm PDT

Uber's San Francisco office. Photo by Bloomberg.

Uber’s Blast from the Past

By Martin Peers · Jun 29, 2022 5:00pm PDT

Get ready. We may soon be taking a trip down memory lane for Uber, revisiting the era of co-founder and former CEO Travis Kalanick. That will come via the trial of the company’s former chief security officer, Joe Sullivan, on three counts of wire fraud as well as a count of obstruction of justice, among other charges. The charges relate to his... Get ready. We may soon be taking a trip down memory lane for Uber, revisiting the era of...