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The Briefing

By Martin Peers, Jessica Lessin and the team at The Information

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Recent Editions

Benchmark's Bill Gurley. Photo by Bloomberg
The Briefing

The SEC’s Gift to Startups: The Information’s Tech Briefing

By The Information Staff · Dec 22, 2020 5:01pm PST
Christmas came a few days early for Silicon Valley and one of its leading venture investors, Bill Gurley. The U.S. Securities and Exchange Commission on Tuesday greenlit new rules that will allow companies to raise capital through direct listings of their stock, a change that could provide a more appealing alternative to the traditional initial... Christmas came a few days early for Silicon Valley and one of its leading venture investors, Bill...
A pedestrian wearing a protective mask walks past signage for SoftBank Corp. in Tokyo, Japan. Photo: Bloomberg.
The Briefing

Apple’s Auto Moonshot; SoftBank’s SPAC: The Information’s Tech Briefing

By The Information Staff · Dec 21, 2020 5:32pm PST
Last week, we wrote that as Apple gets closer to nailing down a prototype electric self-driving car, leaks about the vehicle would be inevitable next year. Turns out we were a few days off. Reuters on Monday provided the most detailed update about Apple’s Project Titan in quite a while, though there’s still a lot unknown, including... Last week, we wrote that as Apple gets closer to nailing down a prototype electric self-driving...
Zoom CEO Eric Yuan. Photo by Bloomberg
The Briefing

Feds Charge Former Zoom Executive With Conspiracy: The Information’s Tech Briefing

By Martin Peers · Dec 18, 2020 5:31pm PST
News that the Justice Department had filed conspiracy charges against a former China-based Zoom Video executive seems sure to shine a laser focus on the high-flying videoconference company in the coming days. Zoom said it had fired the executive and was cooperating with the government. The allegations underlying the charges are sure to shock... News that the Justice Department had filed conspiracy charges against a former China-based Zoom...
Alphabet CEO Sundar Pichai in January in Brussels. Photo by Bloomberg
Google’s Antitrust Trifecta: The Information’s Tech Briefing
By Martin Peers · Dec 17, 2020 5:02pm PST
Alphabet CEO Sundar Pichai in January in Brussels. Photo by Bloomberg
The Briefing

Google’s Antitrust Trifecta: The Information’s Tech Briefing

By Martin Peers · Dec 17, 2020 5:02pm PST
Another day, another Google antitrust lawsuit. Today’s installment from 38 states and territories, attacking Google’s dominance in search, covers much of the ground laid out in the Justice Department’s lawsuit against Google in late October. But the list of allegations spelled out today paints an unflattering picture of the... Another day, another Google antitrust lawsuit. Today’s installment from 38 states and...
Facebook CEO Mark Zuckerberg. Photo by Bloomberg
The Briefing

What Facebook-Apple Battle Could Mean: The Information’s Tech Briefing

By Martin Peers · Dec 16, 2020 5:01pm PST · 4 comments
It’s hard not to feel that Apple CEO Tim Cook has only himself to blame for the battle he now finds himself in with Facebook. Over the past few years he spent an inordinate amount of time preaching about the evils of the advertising-based business model of Facebook and others. It’s not a surprise Facebook CEO Mark Zuckerberg would... It’s hard not to feel that Apple CEO Tim Cook has only himself to blame for the battle he...
Margrethe Vestager, competition commissioner of the European Commission with Thierry Breton, industry commissioner of the European Union, on Tuesday. Photo by Bloomberg
The Briefing

Europe’s Tough New Rules of Digital Road: The Information’s Tech Briefing

By Martin Peers · Dec 15, 2020 5:31pm PST
It may take a couple of years for the ramifications of Europe’s proposed new digital regulations to crystallize. But on first look, it appears the regulations could lead to far-reaching changes for U.S. tech giants. And given the U.S. antitrust actions underway, it’s quite possible the companies will make changes on a global basis,... It may take a couple of years for the ramifications of Europe’s proposed new digital...
Apple CEO Tim Cook. Photo by Bloomberg
The Briefing

Apple’s Labor Challenges: The Information’s Tech Briefing

By Martin Peers · Dec 14, 2020 5:31pm PST
There may be few things in the tech industry that demonstrate the gulf between rich and poor more than workers in India who manufacture iPhones rioting over low pay. That’s what happened over the weekend at Wistron’s Bangalore factory. It’s a reminder that, while complaints from Silicon Valley workers about their... There may be few things in the tech industry that demonstrate the gulf between rich and poor more...
Oracle's office in Redwood City, Calif. Photo by Bloomberg
Oracle Joins Tech Migration to Texas: The Information’s Tech Briefing
By Martin Peers · Dec 11, 2020 5:31pm PST
Oracle's office in Redwood City, Calif. Photo by Bloomberg
The Briefing

Oracle Joins Tech Migration to Texas: The Information’s Tech Briefing

By Martin Peers · Dec 11, 2020 5:31pm PST
Warning to Austin home buyers: Prices are about to skyrocket. That’s one likely result of the wave of tech companies moving their headquarters from the Bay Area to the Texas capital, a group that today expanded to include Oracle. Oracle’s news came a couple of days after Elon Musk said he had moved to Texas, and 10 days after Hewlett... Warning to Austin home buyers: Prices are about to skyrocket. That’s one likely result of...
Airbnb's founders displayed on Nasdaq's Times Square screen in New York today. Photo by Bloomberg
The Briefing

Airbnb’s $100 Billion Day: The Information’s Tech Briefing

By Martin Peers · Dec 10, 2020 5:02pm PST
Airbnb’s opening day stock trades, at more than double its $68 a share IPO price, demonstrate just how much ultra-low interest rates are inflating asset prices, even if they aren’t causing inflation among everyday goods and services. At today’s closing price of $144.71, Airbnb’s valuation of nearly $100 billion is more... Airbnb’s opening day stock trades, at more than double its $68 a share IPO price,...
Facebook CEO Mark Zuckerberg. Photo by Bloomberg.
The Briefing

The Antitrust Case Against Facebook Begins: The Information’s Tech Briefing

By Martin Peers · Dec 9, 2020 5:32pm PST
The long-anticipated antitrust battle against Facebook has begun. Separate lawsuits, from the feds and the states, read at times like a business thriller. For example, the states’ lawsuit quotes an email from CEO Mark Zuckerberg to Instagram co-founder Kevin Systrom warning of the competitive threat Instagram faced if it turned down... The long-anticipated antitrust battle against Facebook has begun. Separate lawsuits, from the...
Tesla CEO Elon Musk. Photo by Bloomberg
The Briefing

Tesla Cashes In on Roaring Market: The Information’s Tech Briefing

By Martin Peers · Dec 8, 2020 5:30pm PST
For the third time this year, Elon Musk is selling new shares in Tesla to raise cash. It’s a smart move by Musk, given how much money is flowing into the stock market. And it raises the question of why other growth companies that need cash, like Netflix, haven’t taken the same approach. Tesla said today it would sell up to $5 billion... For the third time this year, Elon Musk is selling new shares in Tesla to raise cash. It’s...
Uber CEO Dara Khosrowshahi. Photo by Bloomberg
Uber’s Costly Exit From Self-Driving Car Business: The Information’s Tech Briefing
By Martin Peers · Dec 7, 2020 5:01pm PST
Uber CEO Dara Khosrowshahi. Photo by Bloomberg
The Briefing

Uber’s Costly Exit From Self-Driving Car Business: The Information’s Tech Briefing

By Martin Peers · Dec 7, 2020 5:01pm PST
Uber finally unloaded its self-driving car unit, after five years and the expenditure of $2.5 billion. As The Information noted in an in-depth article in late September, that effort had produced a car that couldn’t drive more than half a mile without encountering a problem. The final bill is even higher. Uber is investing $400 million in... Uber finally unloaded its self-driving car unit, after five years and the expenditure of $2.5...
A DoorDash delivery person. Photo by Bloomberg
The Briefing

DoorDash’s Sky-High Valuation: The Information’s Tech Briefing

By Martin Peers · Dec 4, 2020 5:31pm PST
Next week is shaping up to be a big one for tech IPOs, with both DoorDash and Airbnb expected to hit the market. Both raise interesting questions for investors, given how each has fared through the pandemic. DoorDash’s offering arguably poses the biggest risks. The restaurant-meal delivery service on Friday raised its pricing range to... Next week is shaping up to be a big one for tech IPOs, with both DoorDash and Airbnb expected to...
WarnerMedia's film chief Ann Sarnoff. Photo by Bloomberg.
The Briefing

WarnerMedia Shakes Up Movie Business: The Information’s Tech Briefing

By Martin Peers · Dec 3, 2020 5:00pm PST
Last Christmas Eve, The Information’s Jessica Toonkel predicted that “2020 will be the year that a major studio, most likely Disney or AT&T’s WarnerMedia, breaks the mold and debuts some movies on its streaming service before they show up in theaters.” At the time it seemed a daring forecast, but then Covid happened,... Last Christmas Eve, The Information’s Jessica Toonkel predicted that “2020 will be...
Google CEO Sundar Pichai. Photo by Bloomberg
The Briefing

Big Tech’s Small Budget M&A Effort: The Information’s Tech Briefing

By Martin Peers · Dec 2, 2020 5:02pm PST · 1 comment
Big tech is in acquisition mode, despite antitrust scrutiny. It’s just that the deals aren’t for brand name companies or of any size. This week alone we’ve seen Google acquire data management firm Actifio, Facebook buy customer support service Kustomer and Amazon reportedly in talks to snap up podcasting firm Wondery. Each of... Big tech is in acquisition mode, despite antitrust scrutiny. It’s just that the deals...
Salesforce's Marc Benioff. Photo by Bloomberg
Salesforce Pays Up for Slack: The Information’s Tech Briefing
By Martin Peers · Dec 1, 2020 5:32pm PST
Salesforce's Marc Benioff. Photo by Bloomberg
The Briefing

Salesforce Pays Up for Slack: The Information’s Tech Briefing

By Martin Peers · Dec 1, 2020 5:32pm PST
Salesforce chief Marc Benioff could never be accused of underpaying for a company, as his proposed $27.7 billion cash-and-stock purchase of Slack demonstrates. Salesforce’s price for the enterprise messaging firm is more than a 50% premium over where Slack’s stock was trading before news of the deal broke. The idea that someone... Salesforce chief Marc Benioff could never be accused of underpaying for a company, as...
Slack's top executives the day the company went public. Photo by Bloomberg.
The Briefing

Salesforce Nears Slack Deal: The Information’s Tech Briefing

By Martin Peers · Nov 30, 2020 5:01pm PST
Salesforce appears to be closing in on its latest acquisition target, Slack. A deal may be announced Tuesday afternoon, CNBC reported today, with Salesforce paying a premium to Slack’s current price. That suggests Salesforce could pay more than $23 billion, the enterprise value of Slack implied by its closing price on Monday of $42.88. ... Salesforce appears to be closing in on its latest acquisition target, Slack. A deal may be...
Salesforce chief Marc Benioff. Photo by Bloomberg.
The Briefing

Salesforce Goes After Slack: The Information’s Tech Briefing

By Martin Peers · Nov 25, 2020 5:01pm PST
Just in time for the holidays, we have a possible big enterprise software merger. Salesforce’s interest in buying Slack, first reported by the Wall Street Journal, shouldn’t come as a surprise to anyone. We even predicted Salesforce could be a bidder for the workplace messaging service last January, along with several other companies... Just in time for the holidays, we have a possible big enterprise software merger....
Traders on the floor of the New York Stock Exchange. Photo by Bloomberg
The Briefing

Uber Finally Hits $90 Billion Market Cap; The Information’s Tech Briefing

By Martin Peers · Nov 24, 2020 5:00pm PST
Most major tech stocks rallied with the rest of the stock market on Tuesday, as the Dow Jones Industrial Average passed the 30,000 mark for the first time. Some tech stocks hit highs nearly as symbolic as the Dow’s closing level. Uber, for instance, rose 2.4% to $51.26, its highest price ever and putting its market capitalization at $90... Most major tech stocks rallied with the rest of the stock market on Tuesday, as the Dow Jones...
Travelers at San Francisco Airport. Photo by Bloomberg
The Tech Industry’s Diaspora: The Information’s Tech Briefing
By Martin Peers · Nov 23, 2020 5:32pm PST
Travelers at San Francisco Airport. Photo by Bloomberg
The Briefing

The Tech Industry’s Diaspora: The Information’s Tech Briefing

By Martin Peers · Nov 23, 2020 5:32pm PST
The stock market is acting like the Covid vaccines have already been administered. Meanwhile, in the real world, what could be a long-term consequence of the pandemic is unfolding: there are signs the San Francisco Bay Area is losing its iron grip on the tech industry. We ran a story today on high-profile tech CEOs such as Dropbox’s Drew... The stock market is acting like the Covid vaccines have already been administered. Meanwhile, in...