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

A Walmart store in Lakewood, California. Photo by Bloomberg

TikTok and the Cloud Wars, Amazon’s Store Habit

By Martin Peers · Aug 27, 2020 5:36pm PDT

The jockeying for ownership of TikTok seems to be turning into a subplot in the cloud wars. The unlikely cast of suitors—and almost-suitors—include database giant Oracle, Google (which reportedly considered and decided against a bid) and, of course, Microsoft. These are the same companies that have been waging a bare-knuckled battle... The jockeying for ownership of TikTok seems to be turning into a subplot in the cloud wars. The...

Tim Cook, Masayoshi Son and Brian Chesky. Photos: Bloomberg

Facebook’s Apple Problem, SoftBank’s TikTok Interest, Airbnb’s Price Tag

By Martin Peers · Aug 26, 2020 6:46pm PDT

Late summer seems to ring in a fight between Apple and Facebook ahead of the iPhone maker’s fall update to its mobile operating system. Driving both to the mat this time: a change in iOS 14 that will ask users if they want their information shared with other apps for advertising purposes. Analysts expect most consumers to say no. The... Late summer seems to ring in a fight between Apple and Facebook ahead of the iPhone maker’s...

A view of San Francisco in July, 2020. Venture capitalist Marc Andreessen is encouraging founders to set up companies in the San Francisco area. Photo: Bloomberg

Andreessen’s Call, a Best Buy Bonanza, Palantir’s Big Reveal

By Martin Peers · Aug 25, 2020 6:11pm PDT

Y Combinator, which trains and invests in startup founders, has been intent on expanding the geographic diversity of the companies it includes in its twice-yearly accelerator program. But this summer’s group of participants was particularly far flung. One co-founder who spoke to Kate for her story on Michael Seibel, CEO of YC’s... Y Combinator, which trains and invests in startup founders, has been intent on expanding the...

Facebook's Mark Zuckerberg testifying remotely at a House Judiciary Subcommittee hearing in July. Photo by Bloomberg

Zuckerberg Talks TikTok in D.C.: The Information’s Tech Briefing

By Martin Peers · Aug 24, 2020 5:55pm PDT

Facebook's Mark Zuckerberg testifying remotely at a House Judiciary Subcommittee hearing in July. Photo by Bloomberg

Zuckerberg Talks TikTok in D.C.: The Information’s Tech Briefing

By Martin Peers · Aug 24, 2020 5:55pm PDT

For some time, Facebook CEO Mark Zuckerberg has raised red flags about the threat he believes Chinese tech services like TikTok pose to free speech. What, then, was Zuckerberg after when he brought up his concerns about Chinese internet companies and TikTok in meetings last year with President Trump and lawmakers?What he didn’t ask for was... For some time, Facebook CEO Mark Zuckerberg has raised red flags about the threat he believes...

Palantir CEO Alexander Karp. Photo by Bloomberg

Palantir’s Direct Listing Lockup: The Information’s Tech Briefing

By Martin Peers · Aug 21, 2020 6:01pm PDT · 1 comment

One of the big appeals of direct listings, when companies go public simply by listing their existing shares rather than by selling new shares, is that they allow investors and employees to sell their shares immediately. Palantir, which plans to lock up about 80% of its investors’ shares despite having a direct listing, just undercut that... One of the big appeals of direct listings, when companies go public simply by listing their...

Microsoft CEO Satya Nadella. Photo by Bloomberg

Microsoft’s TikTok Risk: The Information’s Tech Briefing

By Martin Peers · Aug 20, 2020 5:31pm PDT

One of the unexplored questions about Microsoft’s interest in TikTok is why it wants to do a deal that would plunge the company into one of the most controversial political debates of the past few years: how to deal with hate speech and other contentious content. This is a briar patch Microsoft has mercifully avoided up until... One of the unexplored questions about Microsoft’s interest in TikTok is why it wants to do...

Apple CEO Tim Cook

Apple’s $2 Trillion Day: The Information’s Tech Briefing

By Martin Peers · Aug 19, 2020 5:32pm PDT · 1 comment

For a few hours today, Apple’s market capitalization was above $2 trillion, symbolizing just how powerful the iPhone maker has become. (The stock ended up losing ground, shrinking the market cap a tad below $2 trillion by the close). By comparison, Amazon and Microsoft are both worth around $1.6 trillion. Apple’s valuation,... For a few hours today, Apple’s market capitalization was above $2 trillion, symbolizing...

Oracle co-founder Larry Ellison. Photo by Bloomberg

An Oracle-TikTok Deal Might Not Be Crazy: The Information’s Tech Briefing

By Martin Peers · Aug 18, 2020 5:01pm PDT · 1 comment

Oracle co-founder Larry Ellison. Photo by Bloomberg

An Oracle-TikTok Deal Might Not Be Crazy: The Information’s Tech Briefing

By Martin Peers · Aug 18, 2020 5:01pm PDT · 1 comment

Oracle’s reported interest in bidding for TikTok might not be as crazy as it sounds. There is a case to be made that the deal could be as much of a fit for Oracle as it would for Microsoft. While Oracle is best-known for its database software and business applications, it also sells a range of products that help marketers organize... Oracle’s reported interest in bidding for TikTok might not be as crazy as it sounds. There...

Robinhood co-CEO Vlad Tenev. Photo by Bloomberg

Robinhood’s Big Funding Streak: The Information’s Tech Briefing

By Martin Peers · Aug 17, 2020 5:31pm PDT

Online trading startup Robinhood said Monday it had raised $200 million, a month after raising $320 million, which in turn was two months after it raised $280 million. With the latest funding round, Robinhood’s valuation has risen to $11.2 billion from $8.6 billion last month.If nothing else, the company’s astonishing ability to... Online trading startup Robinhood said Monday it had raised $200 million, a month after raising...

An Uber driver. Photo by Bloomberg

Uber and Lyft Face Pivotal Week: The Information’s Tech Briefing

By Martin Peers · Aug 14, 2020 5:17pm PDT · 2 comments

The coming week is pivotal for Uber and Lyft. That’s when they are likely to hear the results of their request to postpone a judge’s ruling that they immediately reclassify their drivers in California as employees, rather than independent contractors, until an appeals court can hear the case.If the appeals court says the ruling must... The coming week is pivotal for Uber and Lyft. That’s when they are likely to hear the...

A screen shot of Epic's video spoofing Apple's 1984 ad about Big Brother

Apple’s App Battle Royale: The Information’s Tech Briefing

By Martin Peers · Aug 13, 2020 5:46pm PDT

It is fitting that the next mobile app store battle royale is happening over a piece of software that is part of a genre called battle royale games. On Thursday, the company behind the hit game Fortnite, Epic Games, announced it was permanently discounting—by as much as 20%—its prices on virtual currency in the game. To do so on... It is fitting that the next mobile app store battle royale is happening over a piece of software...

Pinterest CEO Chris Silbermann. Photo by Bloomberg

Pinterest’s Culture Challenge: The Information’s Tech Briefing

By Martin Peers · Aug 12, 2020 6:16pm PDT

Pinterest CEO Chris Silbermann. Photo by Bloomberg

Pinterest’s Culture Challenge: The Information’s Tech Briefing

By Martin Peers · Aug 12, 2020 6:16pm PDT

The subject of gender discrimination in Silicon Valley is back in the news after former Pinterest COO Francoise Brougher published a post on Medium about her experiences dealing with sexism at the company. The detailed post is a little reminiscent of Susan Fowler’s Uber missive of a few years ago—and it may have as much of an impact... The subject of gender discrimination in Silicon Valley is back in the news after former Pinterest...

Airbnb CEO Brian Chesky. Photo by Bloomberg

September’s (Likely) IPO Spree: The Information’s Tech Briefing

By Martin Peers · Aug 11, 2020 5:02pm PDT

News that Airbnb will file to go public by the end of this month is the latest sign that the post-Labor Day period may see a spate of high profile tech IPOs. Both Palantir and Snowflake have reportedly filed confidentially to go public, while Asana is also said to be planning a public debut this year.Executives at all these companies are... News that Airbnb will file to go public by the end of this month is the latest sign that the...

Jason Kilar, now chief executive officer of WarnerMedia, at a conference in 2010, when he was chief executive officer of Hulu LLC. Photo: Bloomberg

WarnerMedia’s Big Job Cuts: The Information’s Tech Briefing

By Martin Peers · Aug 10, 2020 5:20pm PDT

WarnerMedia’s layoffs of 600 people today were the latest sign that the entertainment industry is coming to grips with its new reality: The golden rivers of money from cable TV are drying up. With the only growth business for most of the companies coming from streaming, which isn’t a profit maker yet, the companies have no... WarnerMedia’s layoffs of 600 people today were the latest sign that the entertainment...

Trump, TikTok and Tencent: The Information’s Tech Briefing

By Martin Peers · Aug 7, 2020 7:18pm PDT

The Trump administration’s surprise executive orders that would effectively ban TikTok and WeChat in the U.S. raised a flurry of questions, such as whether the ban would extend to video games owned by WeChat’s parent Tencent. Equally unclear: whether a related government effort could thwart lucrative cloud services deals, such as the... The Trump administration’s surprise executive orders that would effectively ban TikTok and...

An Uber Eats delivery courier in Tokyo on April 21. Photo: Bloomberg

The New Uber, Google Founders’ Letter: The Information’s Tech Briefing

By Martin Peers · Aug 6, 2020 6:45pm PDT

An Uber Eats delivery courier in Tokyo on April 21. Photo: Bloomberg

The New Uber, Google Founders’ Letter: The Information’s Tech Briefing

By Martin Peers · Aug 6, 2020 6:45pm PDT

In a sign of the times, Uber said Thursday its restaurant-food delivery revenue surpassed ride-hailing for the first time. Uber Eats revenue rose 103%, to $1.2 billion in the June quarter, and its profit margin—at negative 19%—was the unit’s best in many quarters. Ride-hailing generated just $790 million, down 67% due to... In a sign of the times, Uber said Thursday its restaurant-food delivery revenue surpassed...

Facebook launched its TikTok competitor Reels, a feature of Instagram, into the U.S. and other markets on Wednesday. Photo: Bloomberg

Facebook Takes On TikTok: The Information’s Tech Briefing

By Martin Peers · Aug 5, 2020 6:48pm PDT

Facebook has never been shy about drawing inspiration from competitors. It was already preparing a rival to TikTok—Instagram Reels—even as concern about TikTok’s Chinese ownership reached a fever pitch in recent months. So it wasn’t surprising when Instagram quickly rolled out Reels in India shortly after the government... Facebook has never been shy about drawing inspiration from competitors. It was already preparing...

An employee at Walt Disney Co.'s Disneyland Resort in Hong Kong on June 18. Shutdowns resulting from the coronavirus contributed to a $4.7 billion quarterly loss.

Disney Streamers Hit 100 Million: The Information’s Tech Briefing

By Martin Peers · Aug 4, 2020 7:12pm PDT

Disney pulled off a successful misdirection today by getting investors to think less about Covid-19 and more about the invasion of the Huns.The company said during an otherwise dismal earnings report that it will release Mulan—its twice-delayed big budget release about a young woman who fends off invaders in China—as a rental in... Disney pulled off a successful misdirection today by getting investors to think less about...

Satya Nadella, chief executive officer of Microsoft Corp., at a tech conference in Bengaluru, India, on February 25, 2020. Photo: Bloomberg

Microsoft’s Focus Gets Fuzzier: The Information’s Tech Briefing

By Martin Peers · Aug 3, 2020 7:57pm PDT

A few months after Microsoft’s board named Satya Nadella CEO of the company in 2014, Nadella sent a 3,100-word memo to the tech giant’s employees describing what he saw as Microsoft’s “soul” and “unique core.” “Microsoft is the productivity and platform company for the mobile-first and cloud-first... A few months after Microsoft’s board named Satya Nadella CEO of the company in 2014,...

Microsoft Talks to TikTok: The Information’s Tech Briefing

By Martin Peers · Jul 31, 2020 5:16pm PDT

Microsoft Talks to TikTok: The Information’s Tech Briefing

By Martin Peers · Jul 31, 2020 5:16pm PDT

News that Microsoft is in talks to buy TikTok raises all sorts of fascinating questions. Microsoft in recent years has been much more focused on selling to business customers than individuals; TikTok would take them in the opposite direction. The closest fit within Microsoft’s business would be its Xbox gaming division, although it... News that Microsoft is in talks to buy TikTok raises all sorts of fascinating questions....