The Briefing by Martin Peers, Jessica Lessin and the team at The Information

Five times/week

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.

By providing your email, you agree to The Information’s Privacy Policy

Recent Editions

Foxconn employees walking past a company facility in Shenzhen. Photo by Bloomberg.

China Covid Lockdowns Cast Shadows on Apple

By Martin Peers · Mar 14, 2022 5:00pm PDT

What a year this is turning out to be. If war and inflation wasn’t enough, we’ve still got Covid-19 doing its thing. Whoever sent the memo that the pandemic is waning apparently left China off the distribution list. Yet another Covid-inspired lockdown in China has closed Foxconn factories in Shenzhen until at least March 20. That’s bad news for... What a year this is turning out to be. If war and inflation wasn’t enough, we’ve still got...

Moscow. Photo by Bloomberg.

Russia Pullout Costs Add to First-Quarter Pressures for Tech Firms

By Martin Peers · Mar 11, 2022 5:00pm PST

The stragglers are still reporting their fourth-quarter numbers, but it’s time to focus on what the first and second quarters will bring. And it’s not shaping up to be good. Rising inflation, supply chain constraints and labor shortages are the macro factors bearing down on many, if not most, companies, although they’re surely baked into stock... The stragglers are still reporting their fourth-quarter numbers, but it’s time to focus on what...

Uber CEO Dara Khosrowshahi. Photo by Bloomberg.

Rising Gas Prices Threaten Uber, Lyft, DoorDash

By Martin Peers · Mar 10, 2022 5:00pm PST

Can Uber and Lyft ever catch a break? Just when investors might have thought it was safe to wade back into the ride-hailing waters, thanks to the decline of Omicron, gas prices take off. That’s going to raise fuel costs for drivers—including those working for both ride-hailing services and food-delivery operations like DoorDash—probably causing... Can Uber and Lyft ever catch a break? Just when investors might have thought it was safe to wade...

Amazon CEO Andy Jassy. Photo by Bloomberg.

What Amazon's Stock Buyback Says About Andy Jassy's Management

By Martin Peers · Mar 9, 2022 5:00pm PST

Amazon CEO Andy Jassy. Photo by Bloomberg.

What Amazon's Stock Buyback Says About Andy Jassy's Management

By Martin Peers · Mar 9, 2022 5:00pm PST

Amazon picked a good day to unveil some notably shareholder-friendly moves, with a long-overdue stock split and a $10 billion stock buyback program. It may not be a coincidence that the announcement came the same day a bipartisan congressional committee asked the Justice Department to investigate what it called “potentially criminal conduct” by... Amazon picked a good day to unveil some notably shareholder-friendly moves, with a long-overdue...

Google Cloud chief Thomas Kurian. Photo by Bloomberg.

Google-Mandiant Deal Poses Test for Antitrust Regulators

By Martin Peers · Mar 8, 2022 5:00pm PST

The M&A folks at big tech companies apparently are still working, despite regulators’ best efforts to do away with their jobs. Google’s $5.4 billion cash deal to buy cybersecurity firm Mandiant today—confirming The Information’s scoop on Monday about deal talks—demonstrates that big tech companies aren’t going to let antitrust pressure stop... The M&A folks at big tech companies apparently are still working, despite regulators’ best...

Apple CEO Tim Cook at the Golden Globe awards in 2020. Photo by AP

Why Tim Cook Should Explain His Apple TV+ Strategy

By Martin Peers · Mar 7, 2022 5:00pm PST · 1 comment

There may be no CEO in tech who has done as good a job at maximizing profits as Apple’s Tim Cook. Indeed, the company’s ability to extract as many dollars as possible from every part of its business can seem almost excessive at times (for example, when it charges $99 for a laptop power adapter). But it’s all good for shareholders and one reason... There may be no CEO in tech who has done as good a job at maximizing profits as Apple’s Tim Cook....

Shopify's headquarters in Canada. Photo by Bloomberg.

What the Shift to Cash Comp Means for Tech Profit Margins

By Martin Peers · Mar 4, 2022 5:00pm PST · 1 comment

Cash is once again king. We got more evidence this week—in our interview with Cisco’s chief people officer—that some tech companies are raising salaries to sweeten pay at a time when falling stock prices make stock less appealing as a form of compensation. While workers may be pleased, investors might not be. Companies (and investors) like to... Cash is once again king. We got more evidence this week—in our interview with Cisco’s chief...

Disney's name on a screen at the New York Stock Exchange. Photo by Bloomberg.

Why Disney’s Ad-Streaming Move Would Be a Big Deal

By Martin Peers · Mar 3, 2022 5:00pm PST

Disney's name on a screen at the New York Stock Exchange. Photo by Bloomberg.

Why Disney’s Ad-Streaming Move Would Be a Big Deal

By Martin Peers · Mar 3, 2022 5:00pm PST

Netflix’s revolutionary impact on television is beginning to fade. Our scoop today that Disney is considering a cheaper, ad-supported version of its Disney+ service shows how streaming is inexorably gravitating toward the traditional TV model. Such a move means Disney would follow NBCUniversal, Discovery, Paramount, WarnerMedia and even Amazon... Netflix’s revolutionary impact on television is beginning to fade. Our scoop today that Disney is...

An Amazon Books store in New York. Photo by Bloomberg.

What Amazon’s Store Closures Tell Us

By Martin Peers · Mar 2, 2022 5:00pm PST · 1 comment

What a sign of the times. For years, Amazon has been blamed for brick-and-mortar retail chains closing stores and in some cases going out of business all together. Today, Amazon got a taste of its own medicine. The e-commerce giant said it would close 68 of its physical stores, Reuters reported, including a chain of shops called 4-star that... What a sign of the times. For years, Amazon has been blamed for brick-and-mortar retail chains...

Salesforce co-CEO Marc Benioff. Photo by Bloomberg.

What Salesforce's Q4 Says About Tech's Information War

By Martin Peers · Mar 1, 2022 5:00pm PST

Tech companies, like other U.S. businesses, are pulling out all the stops to respond to the horror of Russia’s attack on Ukraine. As we outlined in this report today, more than a dozen companies are doing everything from helping Ukrainians wage information warfare against Russia to cutting financial ties with the country. Microsoft and others... Tech companies, like other U.S. businesses, are pulling out all the stops to respond to the...

Taxis operated by the Yandex-Uber joint venture in Moscow last week. Photo by Bloomberg.

Uber and Others Learn the Cost of Doing Business in Russia

By Martin Peers · Feb 28, 2022 5:00pm PST · 1 comment

First China, now Russia. The Russian invasion of Ukraine in the past week, like China’s tech crackdown before it, has reminded U.S. tech companies just how little they understood these authoritarian regimes. And when things turn ugly, the cost of operating in those countries—both financially and reputationally—can be enormous. (For another angle... First China, now Russia. The Russian invasion of Ukraine in the past week, like China’s tech...

Zendesk CEO Mikkel Svane. Photo by Bloomberg.

What’s Next for Zendesk and Momentive After Deal Collapse

By Martin Peers · Feb 25, 2022 5:00pm PST

Zendesk CEO Mikkel Svane. Photo by Bloomberg.

What’s Next for Zendesk and Momentive After Deal Collapse

By Martin Peers · Feb 25, 2022 5:00pm PST

The board of Zendesk may want to rethink the company’s name, at least while they still have a job, as there’s certainly nothing zen about the enterprise software firm nowadays. As was inevitable, Zendesk’s proposed acquisition of Momentive Global, once known as SurveyMonkey, went down in flames today when Zendesk shareholders voted... The board of Zendesk may want to rethink the company’s name, at least while they still have a...

A traffic jam as people try to leave Kyiv, Ukraine today after Russia's attack. Photo by Bloomberg.

Why Today’s Tech Rally Misses Dangers of Ukraine Conflict

By Martin Peers · Feb 24, 2022 5:00pm PST · 1 comment

It didn’t take long today for U.S. investors to shrug off worries about Russia’s attack on Ukraine. After an initial broad market sell-off, tech stocks rallied strongly this afternoon, lifting the Nasdaq index by 3.3%. That might seem a surprising reaction given the potentially catastrophic effects of a European war on the global economy. Then... It didn’t take long today for U.S. investors to shrug off worries about Russia’s attack on...

An Allbirds store in San Francisco. Photo by Bloomberg.

Allbirds Avoids Walking in Meta’s Shoes

By Nick Wingfield · Feb 23, 2022 5:00pm PST

Lately, there’s been a lot of hand-wringing about how Apple’s mobile privacy changes—which recently blew a hole in the finances and stock of Meta, Facebook’s parent company—may also affect lots of other companies that have benefited from relatively cheap advertising on Facebook. Earlier this week, Ben Thompson said in a post on his Stratechery... Lately, there’s been a lot of hand-wringing about how Apple’s mobile privacy changes—which...

Spotify's Daniel Ek. Photo by Bloomberg

Why Spotify's Car Thing Will Stall

By Martin Peers · Feb 22, 2022 5:00pm PST

You’ve got to hand it to Spotify CEO Daniel Ek: He’s willing to try anything, no matter how silly it might seem, if it can help build his business. And we’re not talking about signing Joe Rogan. Instead, we’re thinking of Spotify’s new Car Thing device, released widely today. This gizmo lets people play the Spotify app in cars,... You’ve got to hand it to Spotify CEO Daniel Ek: He’s willing to try anything, no matter how silly...

A London bus advertising Gopuff services. Photo: AP

A Vibe Shift in Venture

By Nick Wingfield · Feb 18, 2022 5:00pm PST

A London bus advertising Gopuff services. Photo: AP

A Vibe Shift in Venture

By Nick Wingfield · Feb 18, 2022 5:00pm PST

Earlier this week, The Cut published a story entitled “A Vibe Shift is Coming. Will Any of Us Survive It?” that quickly went viral, at least among the blue checkmark crowd on Twitter (the story was about a possible comeback of decadence in fashion and other parts of popular culture). The Information’s own Berber Jin today identified a different... Earlier this week, The Cut published a story entitled “A Vibe Shift is Coming. Will Any of Us...

Palantir CEO Alexander Karp. Photo by Bloomberg.

The Flaws in Palantir's Big Tech-Like Growth Tactic

By Martin Peers · Feb 17, 2022 5:00pm PST

Enterprise software firm Palantir has proudly trod its own path in the tech industry, embracing an openly nationalist attitude that is in keeping with its roots serving the defense and intelligence communities. In his first appearance on a company earnings call today, CEO Alexander Karp even described Palantir as a company that “in every way... Enterprise software firm Palantir has proudly trod its own path in the tech industry, embracing...

Alphabet CEO Sundar Pichai appearing at a conference last November. Photo by Bloomberg

What the Future Holds for Alphabet vs. Meta

By Martin Peers · Feb 16, 2022 5:00pm PST

Just when it looked like Wall Street’s shellacking of Meta Platforms’ stock had ended, we got more news today that reinforced anxieties about the company formerly known as Facebook. Yes, Google’s announcement that it will follow Apple in curtailing ad tracking can only make life harder for Meta’s ad business. (For more on Google’s plans, see our... Just when it looked like Wall Street’s shellacking of Meta Platforms’ stock had ended, we got...

Airbnb signage at the Nasdaq when the company went public. Photo by Bloomberg.

Airbnb Now Printing Cash—What Will Chesky Do Next?

By Martin Peers · Feb 15, 2022 5:00pm PST

It has to be acknowledged when a company hits it out of the park, particularly one that doesn’t get much attention. Airbnb, as its fourth-quarter results tonight demonstrated, is one such company. Consider just this one statistic: In all of 2021, the company generated $2.2 billion in free cash flow—that’s the amount of cash produced by its... It has to be acknowledged when a company hits it out of the park, particularly one that doesn’t...

Peloton's new CEO, Barry McCarthy. Photo by Bloomberg.

Reasons To Be Skeptical About Barry McCarthy's Peloton Plans

By Martin Peers · Feb 14, 2022 5:00pm PST

Peloton's new CEO, Barry McCarthy. Photo by Bloomberg.

Reasons To Be Skeptical About Barry McCarthy's Peloton Plans

By Martin Peers · Feb 14, 2022 5:00pm PST

Peloton’s new CEO, Barry McCarthy, wants the world to know he's not moving across the country just to preside over the sale of the troubled fitness equipment company. Instead, he told the Financial Times, he plans to concentrate on building out the content side of Peloton’s business, where profit margins are much higher than they are on the... Peloton’s new CEO, Barry McCarthy, wants the world to know he's not moving across the country...