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

Apple CEO Tim Cook. Photo by Bloomberg

Facebook’s Ad Business Is Getting Squeezed by Apple’s Tracking Changes

By Martin Peers · Oct 18, 2021 5:00pm PDT · 1 comment

A flood of internal Facebook documents showing up in the news media is telling us plenty about angst inside the company caused by toxic content and competitive threats from other services. And judging by this tweet from Facebook PR, more such revelations are on their way, a sign of how well organized these leakers are. But a bigger challenge for... A flood of internal Facebook documents showing up in the news media is telling us plenty about...

Dave Chappelle. Photo by AP.

What the Chappelle Drama Says About the Difference Between Netflix and Facebook

By Martin Peers · Oct 15, 2021 5:00pm PDT · 2 comments

If news media coverage is anything to go by, the biggest drama on Netflix right now isn’t “Squid Game” but the internal company battle over Dave Chappelle’s comedy special. And what’s striking is how differently Netflix management has handled this free speech issue from how other tech executives—such as Facebook CEO Mark Zuckerberg—have handled... If news media coverage is anything to go by, the biggest drama on Netflix right now isn’t “Squid...

A Fridge No More delivery facility in New York City. Photo by Mike Sullivan.

The Real Risks of the Ultrafast Delivery Wars

By Martin Peers · Oct 14, 2021 5:01pm PDT

We hear a lot nowadays about social media’s divisive impact on the country. But another venture-backed industry arguably poses a much graver danger to people’s long-term health: ultrafast delivery startups. Venture capitalists are currently pouring hundreds of millions of dollars into a sector whose entire goal in life is to enable couch... We hear a lot nowadays about social media’s divisive impact on the country. But another...

ViacomCBS executives, and SpongeBob, celebrate the merger of Viacom and CBS in 2019. Photo by Bloomberg.

Are SpongeBob NFTs a Dopey Idea? Maybe Not

By Martin Peers · Oct 13, 2021 5:01pm PDT

ViacomCBS executives, and SpongeBob, celebrate the merger of Viacom and CBS in 2019. Photo by Bloomberg.

Are SpongeBob NFTs a Dopey Idea? Maybe Not

By Martin Peers · Oct 13, 2021 5:01pm PDT

If you’re allergic to the catchy buzzwords executives and investors love to throw around, you might not want to read the next sentence, given the risk of anaphylactic shock. ViacomCBS has become “one of the first major media and entertainment companies to enter the metaverse in a significant way,” thanks to a partnership that will bring its TV... If you’re allergic to the catchy buzzwords executives and investors love to throw around, you...

A DoorDash delivery worker. Photo by Bloomberg.

Delivery Firms Rush Into Advertising, Where Others Fear to Tread

By Martin Peers · Oct 12, 2021 5:00pm PDT

What is it about the advertising business that makes otherwise sensible businesspeople think it’s the panacea for all their ills? This week, as The Wall Street Journal recounted today, DoorDash launched its ad sales effort, following on the heels of similar moves by Instacart and Uber. All three apparently see advertising as the way to turn... What is it about the advertising business that makes otherwise sensible businesspeople think it’s...

A bull statue for sale outside the New York Stock Exchange last month. Photo by Bloomberg.

The IPO Year to Remember

By Martin Peers · Oct 11, 2021 5:00pm PDT

This really has been a banner year for IPOs. Yes, you’ve seen all the headlines, but now we’ve got some data to back up that assertion. So far this year, 104 tech firms have gone public via initial public offering, more than in any year since 2000, according to Dealogic. And this year’s IPOs have raised more money than those in any year going... This really has been a banner year for IPOs. Yes, you’ve seen all the headlines, but now we’ve...

Frances Haugen. Photo by Bloomberg.

Whistleblowers’ Moment in Tech

By Nick Wingfield · Oct 8, 2021 5:00pm PDT · 2 comments

It would be an understatement to say whistleblowing in the tech industry had a moment this week. First, Frances Haugen, now forever known as the Facebook Whistleblower, caused a media and political frenzy with her testimony in Washington, D.C., on Tuesday. Also this week, a project headed by Ifeoma Ozoma, a former Pinterest staffer who went... It would be an understatement to say whistleblowing in the tech industry had a moment this week....

A trader on the floor of the New York Stock Exchange last month. Photo by Bloomberg.

An Aborted IPO Reflects Market Jitters About Covid Winners

By Martin Peers · Oct 7, 2021 5:00pm PDT

A trader on the floor of the New York Stock Exchange last month. Photo by Bloomberg.

An Aborted IPO Reflects Market Jitters About Covid Winners

By Martin Peers · Oct 7, 2021 5:00pm PDT

After a spate of IPO filings earlier this week, including from companies Rent the Runway, Udemy and GlobalFoundries, you might have thought the roller-coaster ups and downs of the market weren’t deterring anyone from going public. Wrong! Today iFit Health & Fitness, a competitor to Peloton, decided to postpone its IPO due to “adverse market... After a spate of IPO filings earlier this week, including from companies Rent the Runway, Udemy...

Coinbase CEO Brian Armstrong. Photo by Bloomberg.

Why Coinbase CEO’s Worries About Attacks on Founders Are Misplaced

By Martin Peers · Oct 6, 2021 5:00pm PDT · 1 comment

Coinbase CEO Brian Armstrong is worried that attacks from the press and politicians will drive successful CEOs to “leave from burnout.” Given the timing, this tweet seemed to be a response to the pounding that Facebook CEO Mark Zuckerberg has taken lately, although Armstrong mentioned “Gates, Page, Bezos” as though they were examples. This has... Coinbase CEO Brian Armstrong is worried that attacks from the press and politicians will drive...

Senators Marsha Blackburn and Richard Blumenthal as Frances Haugen testified today. Photo by Bloomberg.

Facebook Leads to Hyperbole Outbreak

By Martin Peers · Oct 5, 2021 5:00pm PDT

Have we reached peak Facebook-bashing yet? It would be risky to call the top for that exercise, although it may be hard to surpass this week’s one-two punch of the global outage with the public appearances of whistleblower Frances Haugen. The result is commentary notable for its rapidly diminishing quota of common sense. Take, for example,... Have we reached peak Facebook-bashing yet? It would be risky to call the top for that exercise,...

Facebook's Silicon Valley headquarters. Photo by Bloomberg.

Facebook’s Outage and its Future

By Martin Peers · Oct 4, 2021 5:00pm PDT

Fixing the problems caused by Facebook turned out to be easier than everyone thought. Just turn off the site! Today’s global outage affecting all parts of Facebook seems an appropriate coda to the spate of news stories about Facebook’s negative impact on society in recent weeks. The New York Times opined that the recent spate of revelations in... Fixing the problems caused by Facebook turned out to be easier than everyone thought. Just turn...

Zillow co-founder and CEO Rich Barton. Photo by Bloomberg.

Zillow Throws Down Gauntlet to FTC

By Martin Peers · Oct 1, 2021 5:00pm PDT

Zillow co-founder and CEO Rich Barton. Photo by Bloomberg.

Zillow Throws Down Gauntlet to FTC

By Martin Peers · Oct 1, 2021 5:00pm PDT

Zillow Group isn’t typically counted in the list of big bad tech companies that deserve antitrust restraint, but it has become clear that, under Lina Khan, the Federal Trade Commission is casting a wide net for tech targets. As we reported on Thursday, Khan has reopened a review of Zillow’s $500 million purchase of ShowingTime, which schedules... Zillow Group isn’t typically counted in the list of big bad tech companies that deserve antitrust...

Senator Marsha Blackburn at today's hearing. Photo by Bloomberg.

The Limits of Washington’s Facebook Theater

By Martin Peers · Sep 30, 2021 5:00pm PDT

There’s so much theater in the frequent congressional interrogation of tech executives nowadays that you could almost stage these hearings on Broadway. It certainly would be a long-running show, though one that plays to mostly empty seats given how boringly repetitive these hearings have become. That was demonstrated with today’s installment, as... There’s so much theater in the frequent congressional interrogation of tech executives nowadays...

Warby Parker's signage out the front of the New York Stock Exchange today. Photo by AP

Warby Parker’s Triumphant Market Debut is Good and Bad News

By Martin Peers · Sep 29, 2021 5:00pm PDT

Warby Parker’s sterling debut on the public markets today makes two things about the markets clear. One is that digitally-savvy, venture-backed consumer goods startups such as Warby Parker aren’t as unpopular on Wall Street as would appear from the disastrous IPOs of others in that category, such as Casper and Honest Co. The second is that... Warby Parker’s sterling debut on the public markets today makes two things about the markets...

Dave Limp, Amazon's senior vice president of devices and services. Photo by Bloomberg

Amazon’s Spray-and-Pray Hardware Strategy

By Martin Peers · Sep 28, 2021 5:00pm PDT

Yes, Amazon wants to be bigger in the consumer gadget business. The ecommerce-and-cloud- behemoth introduced so many new devices today that it's tough to fit a mention of all of them into one sentence. Everything from a robot that roams around the home to a new Fitbit-like health tracker to a video doorbell and a new video-calling device. One... Yes, Amazon wants to be bigger in the consumer gadget business. The ecommerce-and-cloud- behemoth...

Instagram chief Adam Mosseri. Photo by Bloomberg.

Facebook’s Instagram Kids Retreat Signals Limits on Expansion Potential

By Martin Peers · Sep 27, 2021 5:00pm PDT · 2 comments

Instagram chief Adam Mosseri. Photo by Bloomberg.

Facebook’s Instagram Kids Retreat Signals Limits on Expansion Potential

By Martin Peers · Sep 27, 2021 5:00pm PDT · 2 comments

It’s hard to imagine a more predictable announcement than the one made by Facebook today. Less than two weeks after an uproar over the damage being done to teenage girls by Facebook’s Instagram, sparked by a Wall Street Journal report, is anyone surprised by today’s news that the company isn’t going forward with a version of “Instagram Kids”?... It’s hard to imagine a more predictable announcement than the one made by Facebook today. Less...

Barry Diller. Photo by Bloomberg.

Barry Diller’s Puzzling Magazine Drive

By Martin Peers · Sep 24, 2021 5:00pm PDT · 1 comment

What is the fascination that internet billionaires have with print media? First Jeff Bezos buys The Washington Post, then Marc Benioff snaps up Time magazine. And now Barry Diller is in “advanced talks” to buy Meredith Corp., the company behind People, Better Homes and Gardens, Entertainment Weekly, among others, according to the Wall Street... What is the fascination that internet billionaires have with print media? First Jeff Bezos buys...

European Commissioner competition commissioner Margrethe Vestager. Photo by Bloomberg.

Europe Aims to Solve Tech’s Knottiest Problem: Too Many Chargers

By Martin Peers · Sep 23, 2021 5:00pm PDT

The FTC’s new chair, Lina Khan, wants to drastically shake up antitrust enforcement in the U.S., by taking into account the interests of “workers and independent businesses as well as consumers,” she outlined in a memo made public this week. Over in Europe, antitrust czar Margrethe Vestager, no stranger to vigorous antitrust enforcement, is... The FTC’s new chair, Lina Khan, wants to drastically shake up antitrust enforcement in the U.S.,...

Epic CEO Tim Sweeney. Photo by Bloomberg

Today’s Lessons in How Apple Wields Power

By Martin Peers · Sep 22, 2021 5:01pm PDT

Apple’s legal battle with Tim Sweeney of Epic Games is turning into one of those off-putting television dramas where none of the characters are likable. Sweeney, in particular, is losing credibility by the day. After the court ruling on his antitrust case against Apple two weeks ago, he described the decision as a loss for developers and... Apple’s legal battle with Tim Sweeney of Epic Games is turning into one of those off-putting...

Uber CEO Dara Khosrowshahi. Photo by Bloomberg.

Uber Stock Rebounds But Investor Optimism May Be Temporary

By Martin Peers · Sep 21, 2021 5:00pm PDT

Uber CEO Dara Khosrowshahi. Photo by Bloomberg.

Uber Stock Rebounds But Investor Optimism May Be Temporary

By Martin Peers · Sep 21, 2021 5:00pm PDT

When a stock is as down as Uber’s has been, a little dose of good news can work wonders as an antidepressant. Uber shares jumped nearly 12% today after the company disclosed it was closer to profitability than previously thought. The rally put DoorDash, a smaller company that rose above Uber’s market valuation last week, back in its place. You... When a stock is as down as Uber’s has been, a little dose of good news can work wonders as an...