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

Adam Selipsky. Photo by Tableau

The Briefing: Amazon’s Unexpected AWS Choice

By Martin Peers · Mar 23, 2021 5:01pm PDT

Amazon surprised the enterprise software industry with its choice of Adam Selipsky, chief of Salesforce’s Tableau unit, to succeed Andy Jassy as CEO of the cloud unit. Selipsky is a onetime lieutenant to Jassy, who is moving upstairs to Jeff Bezos’ job. So he has the experience for the role. But Selipsky had been seen as a possible... Amazon surprised the enterprise software industry with its choice of Adam Selipsky, chief of...

Microsoft's Redmond, Washington campus. Photo by Bloomberg

The Briefing: Microsoft Starts Return to Office

By Martin Peers · Mar 22, 2021 5:31pm PDT

We’re inching closer to normal life. Microsoft’s announcement that next Monday it will start reopening its Redmond, Wash., campus to employees now working at home suggests that, a year after a wave of companies mandated remote work, the momentum is reversing. If the experience of last year is anything to go by, once one big company... We’re inching closer to normal life. Microsoft’s announcement that next Monday it...

Traders on the floor of the New York Stock Exchange earlier this month. Photo by Bloomberg.

The Briefing: Market Jitters and IPO Planning

By Martin Peers · Mar 19, 2021 5:32pm PDT

What a week! The stock market seemed to be doing its best imitation of a yo-yo, with hour-by-hour gyrations that made it harder than usual to predict in the morning whether it would end the day up or down. Pity any executive who is trying to plan for a public market debut later this year: Trying to guess where the market might be in six days,... What a week! The stock market seemed to be doing its best imitation of a yo-yo, with hour-by-hour...

Kansas City Chiefs playing Tampa Bay Buccaneers during the Super Bowl last month. Photo by AP.

The Briefing: Big Entertainment’s High-Risk NFL Deals

By Martin Peers · Mar 18, 2021 5:31pm PDT

Kansas City Chiefs playing Tampa Bay Buccaneers during the Super Bowl last month. Photo by AP.

The Briefing: Big Entertainment’s High-Risk NFL Deals

By Martin Peers · Mar 18, 2021 5:31pm PDT

We had some big news in the streaming video world today: NFL games will be available on several streaming services in addition to existing TV networks starting in 2023, as a result of new deals between the football league, Amazon and most of the big entertainment companies. The new deals are extraordinarily expensive, costing the companies... We had some big news in the streaming video world today: NFL games will be available on several...

Amazon founder Jeff Bezos. Photo by Bloomberg

The Briefing: The Challenge Facing Amazon M.D.

By Martin Peers · Mar 17, 2021 5:02pm PDT

It’s getting harder to think of any aspect of American life that Amazon isn’t now trying to serve. The company ticked the health care box on Wednesday by unveiling Amazon Care, an on-demand health care business, designed as a service companies can offer their employees. Amazon’s description of the service makes it sound like a... It’s getting harder to think of any aspect of American life that Amazon isn’t now...

BuzzFeed CEO Jonah Peretti. Photo by Bloomberg.

The Briefing: What BuzzFeed and Vice SPAC Talks Show

By Martin Peers · Mar 16, 2021 5:01pm PDT · 1 comment

It turns out SPAC deals aren’t a surefire way to riches for every company executive. That’s one takeaway from our report this morning that neither BuzzFeed nor Vice Media are likely to recapture their 2016-17 era peak valuations when they merge with a special purpose acquisition company to go public. Instead, shareholders in both... It turns out SPAC deals aren’t a surefire way to riches for every company executive....

Netflix Co-CEO Reed Hastings. Photo by Bloomberg.

The Briefing: Netflix Wins Oscar Nominations, Loses Wall Street

By Martin Peers · Mar 15, 2021 5:31pm PDT · 2 comments

This year’s Academy Awards ceremony on April 25 will air on Disney’s ABC network, as it has for many years. But it could well be Netflix’s show, judging by the 35 award nominations received by Netflix movies Monday morning, including 10 for “Mank.” Not only does Netflix dominate the streaming side of television,... This year’s Academy Awards ceremony on April 25 will air on Disney’s ABC network, as...

Microsoft president Brad Smith. Photo by Bloomberg.

The Daily Briefing: Behind Microsoft’s Attacks on Google

By Martin Peers · Mar 12, 2021 5:32pm PST

Microsoft president Brad Smith. Photo by Bloomberg.

The Daily Briefing: Behind Microsoft’s Attacks on Google

By Martin Peers · Mar 12, 2021 5:32pm PST

A public brawl between two big companies is always fun to watch. It doesn’t happen very often, as most business executives go to great lengths to avoid saying anything in public remotely colorful (that’s one reason why Elon Musk is so much fun to watch). So the war of words between Microsoft and Google on Friday, triggered by... A public brawl between two big companies is always fun to watch. It doesn’t happen very...

Democratic Senator Amy Klobuchar. Photo by Bloomberg

Why Tech Breakups Could Be Good for Shareholders: The Information’s Tech Briefing

By Martin Peers · Mar 11, 2021 5:02pm PST

Democrats in Congress are starting work on changes to antitrust laws that would make it tougher for big companies—most obviously big tech firms—to do acquisitions. Along with antitrust action already begun, the legislation being discussed could even end up forcing tech giants to divest existing businesses. Tech firms are sure to... Democrats in Congress are starting work on changes to antitrust laws that would make it tougher...

Roblox's web site. Photo by Bloomberg

What Roblox’s Public Debut Says About Direct Listings: The Information’s Tech Briefing

By Martin Peers · Mar 10, 2021 5:31pm PST · 11 comments

Roblox stock soared on its first day as a public company, closing a touch below $70 and valuing the gaming firm at about $38 billion. Assuming the stock stays that high, it means a very quick profit for venture capitalists who bought stock in Roblox’s last private fundraising at $45 a share in January. And that points to a flaw in the main... Roblox stock soared on its first day as a public company, closing a touch below $70 and valuing...

Sen. Elizabeth Warren. Photo by Bloomberg

What U.S. Tech Is Missing Out On: The Information’s Tech Briefing

By Martin Peers · Mar 9, 2021 5:31pm PST

Our story today about Tencent’s enormous investment gains points to a path not taken by the U.S. tech giants in deploying their vast cash resources. The article revealed that Tencent has built up an investment portfolio of stakes in nearly 1,200 companies, the vast majority of which are privately held. Can you imagine the political... Our story today about Tencent’s enormous investment gains points to a path not taken by the...

An attendee at an Oculus conference in 2019 trying out the Quest virtual reality headset and controllers. Photo by Bloomberg.

Inside Facebook’s AR/VR Strategy: The Information’s Tech Briefing

By Martin Peers · Mar 8, 2021 5:02pm PST

An attendee at an Oculus conference in 2019 trying out the Quest virtual reality headset and controllers. Photo by Bloomberg.

Inside Facebook’s AR/VR Strategy: The Information’s Tech Briefing

By Martin Peers · Mar 8, 2021 5:02pm PST

Facebook CEO Mark Zuckerberg showed how much he is focused on the future, rather than on current-day topics like disinformation and content moderation, in an extensive interview he gave The Information about augmented reality and virtual reality. His ambitions sound grand—“one day I want people to be able to teleport around.”... Facebook CEO Mark Zuckerberg showed how much he is focused on the future, rather than on...

Microstrategy CEO Michael Saylor appearing virtually at a recent crypto conference. Photo by Bloomberg.

The Data Company Going All In on Bitcoin: The Information’s Tech Briefing

By Martin Peers · Mar 5, 2021 5:31pm PST · 4 comments

The number of public companies with core exposure to bitcoin is growing. Today bitcoin miner Cipher Mining Technologies said it would merge with a SPAC called Good Works. The big one, Coinbase, is planning to go public soon. And then there is Microstrategy, a publicly traded data analytics software firm that has basically mortgaged its future on... The number of public companies with core exposure to bitcoin is growing. Today bitcoin miner...

Jack Dorsey (left) and Jay Z. Photos by Bloomberg; AP

Dorsey Gives Jay-Z a Square Deal: The Information’s Tech Briefing

By Martin Peers · Mar 4, 2021 5:30pm PST

Square’s steady revenue growth and surging stock price has, until now, made it a bona fide business success for Jack Dorsey, much more so than the CEO’s other company, Twitter. But Square’s bizarre decision to buy a majority stake in music streaming service Tidal for nearly $300 million suggests Dorsey is losing focus. Perhaps... Square’s steady revenue growth and surging stock price has, until now, made it a bona fide...

A sign at Google's Mountain View campus. Photo by Bloomberg.

Google’s Privacy PR Move: The Information’s Tech Briefing

By Martin Peers · Mar 3, 2021 5:31pm PST

Google made headlines with its announcement today that it is doubling down on its commitment to stop tracking people as they browse across the web, a step “towards a more privacy-first” web, as Google calls it. In many ways, though, this seems more of a PR move than anything substantive. It certainly won’t do much to guarantee... Google made headlines with its announcement today that it is doubling down on its commitment to...

Instacart CEO Apoorva Mehta. Photo by Bloomberg.

Instacart’s Latest Funding Hints at High-Priced Public Debut: The Information’s Tech Briefing

By Martin Peers · Mar 2, 2021 5:30pm PST

Instacart CEO Apoorva Mehta. Photo by Bloomberg.

Instacart’s Latest Funding Hints at High-Priced Public Debut: The Information’s Tech Briefing

By Martin Peers · Mar 2, 2021 5:30pm PST

Price expectations for Instacart’s public debut just went up, by a lot. The grocery delivery firm raised a fresh round of funding—its third since last June—at a valuation of $39 billion. That’s $9 billion above the IPO valuation some reports last November said Instacart’s bankers were planning. And of course,... Price expectations for Instacart’s public debut just went up, by a lot. The grocery...

Zoom CEO Eric Yuan in front of the Nasdaq the day Zoom went public in 2019. Photo by Bloomberg.

Zoom Now Printing Money: The Information’s Tech Briefing

By Martin Peers · Mar 1, 2021 5:30pm PST

Zoom Video Communications provided another reminder of why it’s been such a hot stock during the pandemic. The company, whose brand name is now synonymous with video calls, revealed it has become a cash machine over the past 12 months. Zoom generated $1.4 billion from its videoconferencing service in fiscal 2021. The fascinating question... Zoom Video Communications provided another reminder of why it’s been such a hot stock...

Tampa Bay Buccaneers running back Clyde Edwards-Helaire during the Super Bowl earlier this month. Photo by AP.

Why NFL Deals Call Out for TV Network Mergers: The Information’s Tech Briefing

By Martin Peers · Feb 26, 2021 5:31pm PST

Nothing sums up the creative bankruptcy of the television industry better than today’s news—which broke in Sports Business Journal—that Disney, ViacomCBS, NBCUniversal and Fox are close to wrapping up renewals of their deals to carry National Football League games on their broadcast TV networks. Disney, owner of ESPN and ABC,... Nothing sums up the creative bankruptcy of the television industry better than today’s...

Jack Dorsey. Photo by Bloomberg

Dorsey Makes His Case to Wall Street: The Information’s Tech Briefing

By Martin Peers · Feb 25, 2021 5:32pm PST

It’s a good thing Jack Dorsey isn’t running for public office. Promising big changes when you’ve been in the job for more than five years tends to prompt skeptical questions. But in this case, investors seem to be willing to give Dorsey the benefit of the doubt. In what was a bit of a bloodbath on Wall Street today, Twitter was... It’s a good thing Jack Dorsey isn’t running for public office. Promising big changes...

Kevin Hartz, backer of the SPAC called One, which announced a merger today. Photo by Bloomberg.

Watching for Peak SPAC: The Information’s Tech Briefing

By Martin Peers · Feb 24, 2021 5:01pm PST

Kevin Hartz, backer of the SPAC called One, which announced a merger today. Photo by Bloomberg.

Watching for Peak SPAC: The Information’s Tech Briefing

By Martin Peers · Feb 24, 2021 5:01pm PST

Have we hit peak SPAC yet? You could have asked that question any day over the past few weeks, or months. But lately things truly seem to be hitting a new level. Four new SPAC mergers were unveiled today alone, according to SPACInsider. Adult entertainment service Stripchat said it was planning a SPAC. We reported that a Chinese private... Have we hit peak SPAC yet? You could have asked that question any day over the past few weeks, or...