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The Briefing

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

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Recent Editions

Facebook CEO Mark Zuckerberg speaks via videoconference during a congressional committee's tech CEOs hearing in late July. Photo by Bloomberg
The Briefing

Next Week’s Earnings Traffic Jam: The Information’s Tech Briefing

By Martin Peers · Oct 23, 2020 5:31pm PDT
It may be hard to believe, but next week is the last week before the election. Perhaps for that reason, the five big tech firms all decided to release their September quarter profit details next week. That’s fine, except that four of them—Amazon, Alphabet, Apple and Facebook—decided to do it on the same day, Thursday, at about... It may be hard to believe, but next week is the last week before the election. Perhaps for that...
McAfee's headquarters in Silicon Valley. Photo by Bloomberg
The Briefing

McAfee’s Dismal Return to Public Market: The Information’s Tech Briefing

By Martin Peers · Oct 22, 2020 5:31pm PDT
It’s a reflection of the strength of the IPO market that tech companies with less-than-stellar growth are managing to go public. Today, for instance, shares of cybersecurity firm McAfee began trading—its second stint on the public market, coming a decade after being acquired by Intel. It was not a happy return. McAfee shares fell... It’s a reflection of the strength of the IPO market that tech companies with...
Jeffrey Katzenberg unveiling Quibi at CES earlier this year. Photo by Bloomberg
The Briefing

Quibi’s Short Life and Sudden Death: The Information’s Tech Briefing

By Martin Peers · Oct 21, 2020 5:30pm PDT
The sudden death of Quibi, the short-form video streaming service launched by Hollywood veteran Jeffrey Katzenberg six months ago, is sure to generate plenty of “I-told-you-so’s” from people in the entertainment and tech industries. For weeks, we’ve been hearing from senior entertainment executives that Quibi’s... The sudden death of Quibi, the short-form video streaming service launched by Hollywood veteran...
Attorney-General Bill Barr. Photo by Bloomberg
Google’s Antitrust Moment: The Information’s Tech Briefing
By Martin Peers · Oct 20, 2020 5:31pm PDT
Attorney-General Bill Barr. Photo by Bloomberg
The Briefing

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

By Martin Peers · Oct 20, 2020 5:31pm PDT
The day finally arrived: The current swell of antitrust investigations of big tech resulted in an actual case with the filing of the U.S. Department of Justice’s lawsuit against Google. Years from now though, when Google’s influence declines—which it almost certainly will eventually—this lawsuit isn’t likely to be... The day finally arrived: The current swell of antitrust investigations of big tech resulted in an...
Tesla CEO Elon Musk. Photo by Bloomberg
The Briefing

The Role of Tech Founders in Stock Performance: The Information’s Tech Briefing

By Martin Peers · Oct 19, 2020 5:30pm PDT · 1 comment
Are founder-led firms necessarily better bets for investors than those led by managers? An article on Reuters concluded as much, reporting that “Major founder-led tech firms have seen their share prices double so far this year, comfortably beating a 7.8% gain for the S&P 500 index” and also doing better than those led by hired... Are founder-led firms necessarily better bets for investors than those led by managers? An...
Amazon delivery trucks in Richmond, Calif. on Tuesday. Photo by Bloomberg
The Briefing

Amazon’s Less Than Prime Day: The Information’s Tech Briefing

By Martin Peers · Oct 16, 2020 6:01pm PDT
Has Amazon’s Prime Day shopping event peaked? There were some hints this week that the two-day bargain extravaganza—held in October instead of its usual July date—wasn’t as bountiful for the retail giant as it has been in past years. For one thing, as Citigroup analyst Jason Bazinet reportedly pointed out, Amazon... Has Amazon’s Prime Day shopping event peaked? There were some hints this week that the...
Twitter's San Francisco headquarters. Photo by Bloomberg
The Briefing

Twitter Is Democrat Heaven: The Information’s Tech Briefing

By Martin Peers · Oct 15, 2020 5:31pm PDT
A study out today by the Pew Research Center on Twitter use concluded that just 10% of users produced an astounding 92% of all Tweets—and 69% of the “highly prolific users” are Democrats. That should put to rest any illusions that anyone has that Twitter represents anything like the real world. Breaking down the numbers even... A study out today by the Pew Research Center on Twitter use concluded that just 10% of users...
Twitter CEO Jack Dorsey. Photo by Bloomberg
Censorship Drama Engulfs Facebook, Twitter: The Information’s Tech Briefing
By Martin Peers · Oct 14, 2020 6:02pm PDT · 3 comments
Twitter CEO Jack Dorsey. Photo by Bloomberg
The Briefing

Censorship Drama Engulfs Facebook, Twitter: The Information’s Tech Briefing

By Martin Peers · Oct 14, 2020 6:02pm PDT · 3 comments
There’s no question that Facebook and Twitter face an extremely difficult task in trying to keep misinformation from polluting their networks, particularly now, in the weeks before the election. And doing so without upsetting either Democrats or Republicans is downright impossible. But the companies didn’t do themselves any favors in... There’s no question that Facebook and Twitter face an extremely difficult task in trying to...
Kaianne Drance, vice president of iPhone product marketing at Apple Inc., showing off one of Apple's new iPhones on Tuesday. Photo by Bloomberg
The Briefing

Apple Unveils 5G Phones: The Information’s Tech Briefing

By Martin Peers · Oct 13, 2020 5:32pm PDT
Apple brought all its usual marketing hyperbole to today’s unveiling of its latest iPhones, with breathless exclamation for new colors, chip speed and the ceramic cover that Apple promises will be less breakable. And if you thought Lidar was something in a self-driving car, think again! The Pro line of new iPhones also have it, to beef up... Apple brought all its usual marketing hyperbole to today’s unveiling of its latest iPhones,...
Former politician Paul Ryan. Photo by Bloomberg
The Briefing

SoftBank Feeds SPAC Frenzy: The Information’s Tech Briefing

By Martin Peers · Oct 12, 2020 5:31pm PDT
Raise your hand if you’re not doing a SPAC. It often feels like the list of people who aren’t involved with a special purpose acquisition company—a cashed-up public company looking for a business to buy—is shorter than the list of people who are involved in one. So far, SPAC backers include former politician Paul Ryan,... Raise your hand if you’re not doing a SPAC. It often feels like the list of people who...
Microsoft's main campus in 2017. Photo by Bloomberg
The Briefing

Microsoft Joins Shift to Remote Work: The Information’s Tech Briefing

By Martin Peers · Oct 9, 2020 5:02pm PDT
Microsoft joined the group of companies permanently allowing their employees to work from home at least some of the time. Also in this group, to varying degrees, are Twitter, Slack and Facebook, all responding to the greater flexibility employees have discovered since Covid forced remote work on everyone. Still, despite the apparent momentum in... Microsoft joined the group of companies permanently allowing their employees to work from home at...
Instacart workers filling an order at a supermarket in Los Angeles. Photo by Bloomberg
Food Delivery Apps Arm for War: The Information’s Tech Briefing
By Martin Peers · Oct 8, 2020 5:32pm PDT
Instacart workers filling an order at a supermarket in Los Angeles. Photo by Bloomberg
The Briefing

Food Delivery Apps Arm for War: The Information’s Tech Briefing

By Martin Peers · Oct 8, 2020 5:32pm PDT
Instacart and GoPuff each announced new fundraisings on Thursday, a sign that food-delivery services are arming themselves with plenty of cash for what looks to be a winter of intense competition. Instacart, which became the market leader during the pandemic, raised $200 million at a valuation of $17.7 billion. That’s a sizable increase... Instacart and GoPuff each announced new fundraisings on Thursday, a sign that food-delivery...
Europe's competition czar, Margrethe Vestager. Photo by Bloomberg
The Briefing

EU Warns of Tougher Measures Against Tech: The Information’s Tech Briefing

By Martin Peers · Oct 7, 2020 5:31pm PDT
As much of the news media dived deep into the House of Representatives’ antitrust report on big tech, a more consequential development was unfolding in Europe. Broadcom settled “abuse of dominance” proceedings initiated by the European Commission by caving on the main points the regulator sought. And Europe’s competition... As much of the news media dived deep into the House of Representatives’ antitrust report on...
David Cicilline, who heads the antitrust subcommittee of the House of Representatives. Photo by Bloomberg
The Briefing

House’s Antitrust Verdict on Big Tech: The Information’s Tech Briefing

By Martin Peers · Oct 6, 2020 6:02pm PDT
It shouldn’t be a surprise that the House of Representatives committee investigating big tech should conclude that all four companies—Facebook, Google, Amazon and Apple—are monopolies in one way or another. The views of Democrats who control the committee came through at the CEO hearing in late July. But the report does provide... It shouldn’t be a surprise that the House of Representatives committee investigating big...
An Asana sign at the New York Stock Exchange when the company went public last week. Photo by Bloomberg.
The Briefing

What Palantir and Asana Mean for Direct Listings: The Information’s Tech Briefing

By Martin Peers · Oct 5, 2020 5:31pm PDT · 1 comment
Stocks enjoyed a robust rally on Monday—except for the two newest stocks to go public via direct listing, Palantir and Asana. For the fourth consecutive day, both stocks lost ground. Palantir is now down 5% from its close last Wednesday, while Asana is down 13%. Both are down much more from their highs on their opening day. The weak... Stocks enjoyed a robust rally on Monday—except for the two newest stocks to go public via...
Alphabet CEO Sundar Pichai testifying at a congressional committee hearing late July. Photo by Bloomberg
How Big Could Google and Facebook Get?: The Information’s Tech Briefing
By Martin Peers · Oct 2, 2020 5:01pm PDT
Alphabet CEO Sundar Pichai testifying at a congressional committee hearing late July. Photo by Bloomberg
The Briefing

How Big Could Google and Facebook Get?: The Information’s Tech Briefing

By Martin Peers · Oct 2, 2020 5:01pm PDT
This was a week so packed with news that one reporter tweeted that we’re now in a period of “news hyperinflation,” likening the news environment to hyperinflation in Germany in the 1920s. But amid the barrage, some big picture events are unfolding, like the antitrust investigations now under way, could affect the tech industry... This was a week so packed with news that one reporter tweeted that we’re now in a period of...
Amazon workers protesting the company over climate change last September. Photo by Bloomberg
The Briefing

51% of Subscribers Disagree With Coinbase’s Armstrong: The Information’s Tech Briefing

By Martin Peers · Oct 1, 2020 5:31pm PDT · 1 comment
Coinbase CEO Brian Armstrong’s blog post saying that Coinbase won’t “engage” with social issues unrelated to the company’s core mission as a crypto exchange has spotlighted a hugely contentious issue that divides people at tech companies big and small. Our subscribers, perhaps not surprisingly, are just as divided.... Coinbase CEO Brian Armstrong’s blog post saying that Coinbase won’t...
Palantir's sign hangs from the front of the New York Stock Exchange today. Photo by Bloomberg
The Briefing

Palantir and Asana: Two Very Different Debuts: The Information’s Tech Briefing

By Martin Peers · Sep 30, 2020 5:31pm PDT · 1 comment
Palantir and Asana went public Wednesday, immediately doubling the number of high-profile tech companies that have joined the public market through direct listings of their shares, rather than via a traditional IPO. But that might be the only thing that the two companies had in common on their first day on the public market. Asana shares opened... Palantir and Asana went public Wednesday, immediately doubling the number of high-profile tech...
The entrance to Disneyland in Anaheim, Calif. resort last March when the coronavirus pandemic forced the park to close. Photo by AP
The Briefing

Disney’s Big Layoffs: The Information’s Tech Briefing

By Martin Peers · Sep 29, 2020 5:32pm PDT
Disney’s announcement Tuesday that it will lay off 28,000 theme park workers was a good reminder that, while the stock market acts like there’s no pandemic, Covid-19 is still devastating the economy. The entertainment giant has had to severely limit attendance at its park in Florida, while state rules forced Disney to keep its... Disney’s announcement Tuesday that it will lay off 28,000 theme park workers was a good...
Uber started a boat service in London. Photo by Bloomberg
Uber’s London Win Reinforces Optimism of Investors: The Information’s Tech Briefing
By Martin Peers · Sep 28, 2020 5:31pm PDT
Uber started a boat service in London. Photo by Bloomberg
The Briefing

Uber’s London Win Reinforces Optimism of Investors: The Information’s Tech Briefing

By Martin Peers · Sep 28, 2020 5:31pm PDT
Uber got some good news on Monday when a U.K. judge ruled that the company could get back its license to operate in London. That sent Uber’s shares up 3%. That makes sense, you might think, since London is Uber’s most important market, where it has made plenty of money. But Uber never stopped operating in London: It was allowed to... Uber got some good news on Monday when a U.K. judge ruled that the company could get back its...