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The Briefing

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

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Recent Editions

President Trump. Photo by Bloomberg
The Briefing

Latest Shots in Social Media’s Battlefield: The Information’s Tech Briefing

By Martin Peers · May 27, 2020 6:28pm PDT
It’s probably a sign of how jaded we all are by President Trump’s Twitter activity that his threat to “strongly regulate” or close down social media platforms over what he sees as their anti-conservative bias sparked only a muted reaction on Wall Street and in the wider world. In fact, both Facebook and Twitter held their... It’s probably a sign of how jaded we all are by President Trump’s Twitter activity...
Facebook CEO Mark Zuckerberg and Alphabet CEO Sundar Pichai. Photos by Bloomberg
The Briefing

Digital Ad Giants’ Diverging Stocks: The Information’s Tech Briefing

By Martin Peers · May 26, 2020 5:19pm PDT
What does Mark Zuckerberg have that Sundar Pichai doesn’t? That’s what I wondered when I looked this morning at how big tech stocks had performed in the past week. While Facebook, which is as exposed to advertising as Alphabet, has soared in the past week, Alphabet has...not.For the first two months of the pandemic crisis, the two... What does Mark Zuckerberg have that Sundar Pichai doesn’t? That’s what I wondered...
A person runs past a building under construction at the Google campus in Mountain View, California, U.S., on Thursday, May 21, 2020. Photo: Bloomberg
The Briefing

Welcome to the 3-Day Office Week: The Information’s Tech Briefing

By Martin Peers · May 22, 2020 7:00pm PDT · 1 comment
This week seemed the perfect time to ask our subscribers about their plans to return to the office. While tech companies are starting to mark their calendars for when some employees head back to the workplace, Mark Zuckerberg’s expectation that half of Facebook employees will work remotely in five to 10 years seemed to draw a line in... This week seemed the perfect time to ask our subscribers about their plans to return to the...
An attendee at a Facebook virtual reality event last year. Photo by Bloomberg
Facebook Settles the Remote Work Debate: The Information’s Tech Briefing
By Martin Peers · May 21, 2020 6:44pm PDT
An attendee at a Facebook virtual reality event last year. Photo by Bloomberg
The Briefing

Facebook Settles the Remote Work Debate: The Information’s Tech Briefing

By Martin Peers · May 21, 2020 6:44pm PDT
The work-from-home tipping point, in tech at least, has been reached. On Thursday, Facebook’s Mark Zuckerberg announced that in five to 10 years he expects half of the company’s employees will be working remotely and that it will allow many existing workers, along with new hires, to work from home permanently. Twitter, Coinbase,... The work-from-home tipping point, in tech at least, has been reached. On Thursday,...
A person wearing a protective mask in San Francisco on May 14, 2020. States are easing some coronavirus restrictions and tech companies are slowly planning a return to work. Photo: Bloomberg
The Briefing

A Two-Faced Market: The Information’s Tech Briefing

By Martin Peers · May 20, 2020 7:25pm PDT
The two-faced Roman god Janus hovered over the 2000 dot-com bubble, thanks to the Janus Capital Group’s big stakes in fast-growth tech stocks. When shares like Nokia and America Online crashed to earth, so did Janus.The stern deity, with one face looking to the past and another to the future, might be a fitting emblem for the current... The two-faced Roman god Janus hovered over the 2000 dot-com bubble, thanks to the Janus Capital...
Signage at a TikTok event in Tokyo last year. Photo by Bloomberg
The Briefing

Will TikTok Be Disneyfied: The Information’s Tech Briefing

By Martin Peers · May 19, 2020 6:45pm PDT
The announcement late Monday that Disney’s streaming honcho, Kevin Mayer, has become the CEO of TikTok made perfect sense—in my household at least. My 17-year-old daughter is a fanatical user of the short video app. Her face lights up when I ask her who her favorite Tik-Toker is (answer: @irisapatow, who happens to be the... The announcement late Monday that Disney’s streaming honcho, Kevin Mayer, has become the...
Masayoshi Son. Photo by Bloomberg. Illustration by Mike Sullivan
The Briefing

WeWork’s New Number: The Information’s Tech Briefing

By Martin Peers · May 18, 2020 6:57pm PDT
A year ago, we noted an unusual discrepancy in WeWork’s apparent worth. Based on SoftBank’s earlier, large investments, the office co-working company carried a $47 billion valuation. Yet investors including mutual funds, secondary market buyers and even SoftBank in a smaller deal judged WeWork to be worth just $23 billion. Fast... A year ago, we noted an unusual discrepancy in WeWork’s apparent worth. Based on...
Google CEO Sundar Pichai at last year's Google I/O conference. Photo by Bloomberg
Conference Nostalgia Sets In: The Information’s Tech Briefing
By Martin Peers · May 13, 2020 7:31pm PDT
Google CEO Sundar Pichai at last year's Google I/O conference. Photo by Bloomberg
The Briefing

Conference Nostalgia Sets In: The Information’s Tech Briefing

By Martin Peers · May 13, 2020 7:31pm PDT
Today, I thought I would be waking up at 6 am to make the trek from San Francisco to Mountain View for the second day of Google’s annual developer conference, I/O. I probably would have forgotten to wear sunscreen and complained about trying to write stories from a venue made for rock concerts. But here we are. I’ve spent the day in... Today, I thought I would be waking up at 6 am to make the trek from San Francisco to Mountain...
Twitter CEO Jack Dorsey. Photo by Bloomberg
The Briefing

Twitter Sparks San Francisco Questions: The Information’s Tech Briefing

By Martin Peers · May 12, 2020 6:57pm PDT
In 2003, not too long after the dot-com collapse wiped out internet startups all over San Francisco, I wrote a story for The Wall Street Journal about artists and other bohemian types reclaiming the city from tech interlopers. LOL. If there’s one thing San Francisco has shown again and again over the decades, it’s that fortune... In 2003, not too long after the dot-com collapse wiped out internet startups all over San...
Traders on the floor of the New York Stock Exchange last June. Photo by Bloomberg
The Briefing

IPO Rumblings: The Information’s Tech Briefing

By Martin Peers · May 11, 2020 7:31pm PDT
It’s no surprise that the market for initial public offerings has been one of the casualties of the economic upheaval of the past couple of months. But in technology, optimism is an endlessly renewable resource, and it seems to be fueling hopes for a re-opening of the IPO window in the coming months. One example is Vroom, an online... It’s no surprise that the market for initial public offerings has been one of the...
Tesla's Fremont, Calif. factory. Photo by Bloomberg
The Briefing

Navigating State-by-State Reopening Rules: The Information’s Tech Briefing

By Martin Peers · May 8, 2020 6:21pm PDT
Every day brings news of companies gingerly trying to reopen for business amid a patchwork of different state rules. Today, we learned that Apple plans to reopen a handful of U.S. stores next week, in Idaho, South Carolina, Alabama and Alaska, where local rules allow. It’s another reminder of the brave new world we now inhabit where... Every day brings news of companies gingerly trying to reopen for business amid a patchwork of...
Airbnb CEO Brian Chesky. Photo by Bloomberg
Curbing Tech Ambitions: The Information’s Tech Briefing
By Martin Peers · May 6, 2020 6:13pm PDT
Airbnb CEO Brian Chesky. Photo by Bloomberg
The Briefing

Curbing Tech Ambitions: The Information’s Tech Briefing

By Martin Peers · May 6, 2020 6:13pm PDT
Today brought so many tech headlines it’s hard to know where to begin. Uber confirmed the layoffs Amir previously reported. And then there was more big news from Facebook, as well as first quarter updates from Lyft and Peloton. I've been wondering lately whether Silicon Valley companies, as they downsize, are going to pare back... Today brought so many tech headlines it’s hard to know where to begin. Uber confirmed the...
Disney's headquarters in Burbank, Calif. Photo by Bloomberg
The Briefing

Disney’s Dividend Symbolism: The Information’s Tech Briefing

By Martin Peers · May 5, 2020 6:36pm PDT
Greetings!We got more evidence today that the pandemic is likely to accelerate the shift in economic power from entertainment to tech. Disney, the mightiest of the Hollywood giants, suspended its half-yearly dividend, symbolizing just how much entertainment has been devastated by the current crisis. Last week, when big tech companies reported... Greetings!We got more evidence today that the pandemic is likely to accelerate the shift in...
Apple CEO Tim Cook. Photo by Bloomberg
The Briefing

Silver Lake’s Expanding Portfolio: The Information’s Tech Briefing

By Martin Peers · May 4, 2020 5:57pm PDT
Greetings!Financial crises are great opportunities for investors with cash to burn. They’re able to grab opportunities that others fear to touch. Exhibit A is Silver Lake, which on Monday spent another $750 million investing in India’s Jio Platforms, following closely Facebook’s investment in the same firm.Silver Lake’s... Greetings!Financial crises are great opportunities for investors with cash to burn. They’re...
Tesla CEO Elon Musk. Photo by Bloomberg
The Briefing

Elon the Stock Picker: The Information’s Tech Briefing

By Martin Peers · May 1, 2020 5:18pm PDT
Hello,Today, this study from a pre-eminent educational research group came across my screen, and it is too devastating not to share. Too many parents are skipping meals to feed their kids, or even pulling back on feeding them. As we follow all aspects of the crisis, I know many of you continue to think about the human toll. I hope you will... Hello,Today, this study from a pre-eminent educational research group came across my screen, and...
Amazon CEO Jeff Bezos. Photo by Bloomberg
The Perils of Prospering From the Pandemic: The Information’s Tech Briefing
By Martin Peers · Apr 30, 2020 6:55pm PDT
Amazon CEO Jeff Bezos. Photo by Bloomberg
The Briefing

The Perils of Prospering From the Pandemic: The Information’s Tech Briefing

By Martin Peers · Apr 30, 2020 6:55pm PDT
Greetings!Businesses that are able to sidestep a recession are usually happy to shout that from the rooftops. But, as Amazon’s statement on Thursday reminded us, no company wants to be seen to be profiting from the pandemic.Not only did the company declare it would spend its entire $4 billion operating profit this quarter on Covid-related... Greetings!Businesses that are able to sidestep a recession are usually happy to shout that from...
Outside the New York Stock Exchange. Photo by Bloomberg
The Briefing

The Wall Street-Main Street Disconnect: The Information’s Tech Briefing

By Martin Peers · Apr 29, 2020 5:40pm PDT · 1 comment
Greetings!It’s tough to remember a time when the disconnect between Wall Street and Main Street was so apparent. Quarantine orders are still in place in much of the U.S. Layoffs are continuing by the thousands—including 1,000 today at Lyft. People are still dying from the virus. And yet many stocks have recovered much of the ground... Greetings!It’s tough to remember a time when the disconnect between Wall Street and Main...
Instacart's Apoorva Mehta and Uber's Dara Khosrowshahi. Photos by Bloomberg
The Briefing

Tale of Two Gig Economy Stars: The Information’s Tech Briefing

By Martin Peers · Apr 28, 2020 6:30pm PDT
Greetings!You could call it a tale of two stars of the gig economy, Instacart and Uber. Earlier this week, Amir revealed that Instacart’s sales in April were up 450% compared with December and that the grocery delivery firm would turn its first profit this month, thanks to the pandemic.Today, Amir scored another scoop: that Uber is... Greetings!You could call it a tale of two stars of the gig economy, Instacart and Uber. Earlier...