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The Briefing

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

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Recent Editions

Europe's competition commissioner Margrethe Vestager. Photo by Bloomberg
The Briefing

Europe’s Regulatory Traffic Jam: The Information’s Tech Briefing

By Martin Peers · Jul 14, 2020 5:31pm PDT
European regulators seem to be caught in a traffic jam of cases against big U.S. tech companies. It’s a situation we could easily see develop in the U.S. in the not-too-distant future, an interesting wrinkle that is likely to work to some companies’ advantage.The logjam in Europe has emerged in recent days as we have been waiting to... European regulators seem to be caught in a traffic jam of cases against big U.S. tech companies....
Photo: AP
The Briefing

Trio of Deals: The Information’s Tech Briefing

By Martin Peers · Jul 13, 2020 5:35pm PDT
Monday’s late stock market sell-off halted, at least for a day, what appeared to be a bubble enveloping Wall Street. Even as Covid cases surge, investors had been acting like all was fine. (And one of the trading apps powering the rally, Robinhood, is directly benefiting, as we note below.)But deal-making hasn’t slowed: Today we had... Monday’s late stock market sell-off halted, at least for a day, what appeared to be a...
Photo: Bloomberg
The Briefing

Amazon’s Stunning TikTok Reversal: The Information’s Tech Briefing

By Martin Peers · Jul 10, 2020 5:35pm PDT
For a few hours on Friday, it looked like any Trump administration ban of TikTok was going to be pre-empted by companies. But Amazon’s startling reversal of its ban on TikTok—it said a Friday morning email to employees ordering the app to be deleted from their phones had been sent “in error”—made that thought moot.... For a few hours on Friday, it looked like any Trump administration ban of TikTok was going to be...
Jen-Hsun Huang, president and chief executive officer of Nvidia. Photo by Bloomberg
A New Chip King: The Information’s Tech Briefing
By Martin Peers · Jul 9, 2020 5:32pm PDT
Jen-Hsun Huang, president and chief executive officer of Nvidia. Photo by Bloomberg
The Briefing

A New Chip King: The Information’s Tech Briefing

By Martin Peers · Jul 9, 2020 5:32pm PDT
The tech industry saw a symbolic passing of the baton on Thursday, as the market capitalization of Nvidia—the top maker of chips for artificial intelligence projects—surpassed that of Intel, long Silicon Valley’s most dominant chip provider, for the first time, reported Reuters.The shift underscores the strategic importance... The tech industry saw a symbolic passing of the baton on Thursday, as the market capitalization...
Ant Financial's headquarters in Hangzhou, China, last October. Photo by Bloomberg
The Briefing

China’s Market Rally, Twitter’s Latest Subscription Idea: The Information’s Tech Briefing

By Martin Peers · Jul 8, 2020 5:01pm PDT
If you’re wondering why U.S. stocks keep going up—the Nasdaq rose another 1% on Wednesday—one likely influence is China’s stock market. The Shanghai Composite Index has jumped 15% since the end of June, taking it to its highest level since early 2018. Numerous commentators are warning the rally makes no sense, given... If you’re wondering why U.S. stocks keep going up—the Nasdaq rose another 1% on...
Photo by Bloomberg
The Briefing

Clouds Hover Over TikTok: The Information’s Tech Briefing

By Martin Peers · Jul 7, 2020 5:01pm PDT · 1 comment
What price would shares in ByteDance, owner of the hugely popular TikTok app, fetch today? ByteDance last raised money at a $75 billion valuation, and its shares traded at even higher levels recently on secondary markets. Today, though, investor interest might be just a bit weaker.TikTok has been banned in India, its biggest market, and now the... What price would shares in ByteDance, owner of the hugely popular TikTok app, fetch today?...
Uber CEO Dara Khosrowshahi. Photo by Bloomberg
The Briefing

Why Uber’s Postmates Deal Doesn’t Deserve Celebration: The Information’s Tech Briefing

By Martin Peers · Jul 6, 2020 5:47pm PDT
Uber's 6% stock price rise on Monday suggests investors like the company's $2.65 billion acquisition of Postmates. And it is, in theory, a way to shore up Uber Eats' restaurant food delivery in some U.S. cities and consolidate the market.But investors should curb their enthusiasm. Postmates’ share of the U.S. market in... Uber's 6% stock price rise on Monday suggests investors like the company's $2.65...
Lemonade executives ringing in the company's IPO at the New York Stock Exchange. Photo by NYSE
Lemonade’s IPO Lesson: The Information’s Tech Briefing
By Martin Peers · Jul 2, 2020 5:31pm PDT
Lemonade executives ringing in the company's IPO at the New York Stock Exchange. Photo by NYSE
The Briefing

Lemonade’s IPO Lesson: The Information’s Tech Briefing

By Martin Peers · Jul 2, 2020 5:31pm PDT
Next time a venture capitalist like Bill Gurley complains about the IPO process, expect them to use Lemonade’s IPO as Exhibit A. The insurance tech firm priced its IPO at $29 a share this week, implying a market capitalization well below its most recent private valuation of $2.1 billion.Yet when Lemonade stock started trading Thursday... Next time a venture capitalist like Bill Gurley complains about the IPO process, expect them to...
Customers checking into an Apple store in San Francisco in June. Photo by Bloomberg
The Briefing

What’s Different for Tech in the Second Wave: The Information’s Tech Briefing

By Martin Peers · Jul 1, 2020 5:31pm PDT
What’s interesting about the latest in pandemic-related news, from a business perspective, is what has changed since the beginning—and what hasn’t. As infections rise sharply, we’re seeing reports of a second wave of layoffs as businesses that had reopened close again. What’s different from late March, though, is... What’s interesting about the latest in pandemic-related news, from a business perspective,...
YouTube CEO Susan Wojcicki. Photo by Bloomberg
The Briefing

Google’s Latest TV Price Hike: The Information’s Tech Briefing

By Martin Peers · Jun 30, 2020 5:48pm PDT · 3 comments
Two years ago, I ditched my cable television subscription for YouTube TV, an internet bundle of television channels wrapped in the kind of slick interface you would expect from the Google-owned streaming service. The next year, YouTube bumped the price up to $50 a month from $40, which I accepted reluctantly because they added HGTV and some... Two years ago, I ditched my cable television subscription for YouTube TV, an internet bundle of...
Apple CEO Tim Cook. Photo by Bloomberg
The Briefing

Apple’s News Loss: The Information’s Tech Briefing

By Martin Peers · Jun 29, 2020 5:31pm PDT
The value of Apple’s free News app shrank just a little on Monday after the New York Times said it would pull the few articles it made available for the service. More broadly, The Times’ decision suggests why Apple may face headwinds in its efforts to make its giant services business even bigger.The Times didn’t like the fact... The value of Apple’s free News app shrank just a little on Monday after the New York Times...
A Zoox self-driving vehicle last month. Photo by Bloomberg
Amazon’s Self-Driving Car Bet: The Information’s Tech Briefing
By Martin Peers · Jun 26, 2020 5:31pm PDT
A Zoox self-driving vehicle last month. Photo by Bloomberg
The Briefing

Amazon’s Self-Driving Car Bet: The Information’s Tech Briefing

By Martin Peers · Jun 26, 2020 5:31pm PDT
Amazon’s decision to spend more than $1 billion buying self-driving car developer Zoox—a story we broke last night—made me wonder: Is Amazon really committing to spend the billions more that are necessary to develop fully automated taxis, as its announcement implied? Amazon’s pockets are deep, but perhaps not that deep.... Amazon’s decision to spend more than $1 billion buying self-driving car developer...
Sundar Pichai, CEO of Google's parent Alphabet. Photo by Bloomberg
The Briefing

Google’s Concession to News Publishers: The Information’s Tech Briefing

By Martin Peers · Jun 25, 2020 5:08pm PDT
News executives around the world are almost certainly feeling triumphant, thanks to news that Google has agreed to pay some publishers overseas for news content. It marks a significant step in publishers’ long effort to get tech giants to pay for their content. Facebook has already begun to pay publishers a little for stories that appear... News executives around the world are almost certainly feeling triumphant, thanks to news that...
A restaurant in New York that reopened this week. Photo by AP
The Briefing

Reopening: One Step Forward, Two Back: The Information’s Tech Briefing

By Martin Peers · Jun 24, 2020 5:17pm PDT · 1 comment
The rapid pace of reopening across parts of America, leading to spikes in Covid-19 infection rates, suggests we’re taking two steps back for every step forward. On the job front, in the tech industry, the picture is also mixed. The pandemic is still causing layoffs—Sonos, for instance, said this week it will cut 12% of its global... The rapid pace of reopening across parts of America, leading to spikes in Covid-19 infection...
Canada's Prime Minister Justin Trudeau. Photo by Bloomberg
The Briefing

Canada’s Tech Lure: The Information’s Tech Briefing

By Martin Peers · Jun 23, 2020 5:40pm PDT
Most major tech leaders have called out the wrongheadedness of President Trump’s H-1B visa halt. But probably the most telling comment came from Twitter chairman Patrick Pichette, a Canadian, who tweeted that all H-1B seekers should “just look to the North, where we welcome you.”Tobi Lutke, CEO of Canada-based Shopify, tweeted... Most major tech leaders have called out the wrongheadedness of President Trump’s H-1B visa...
Apple CEO Tim Cook on the company's online-only Worldwide Developers Conference on Monday. Photo by Bloomberg
Apple’s Chip Shift: The Information’s Tech Briefing
By Martin Peers · Jun 22, 2020 6:55pm PDT
Apple CEO Tim Cook on the company's online-only Worldwide Developers Conference on Monday. Photo by Bloomberg
The Briefing

Apple’s Chip Shift: The Information’s Tech Briefing

By Martin Peers · Jun 22, 2020 6:55pm PDT
In 2008, when Apple acquired a semiconductor startup called P.A. Semi, I asked Steve Jobs, Apple’s CEO at the time, why he would bother buying a chip company. “We’ve got some cool stuff we’re going to do,” he told me, then a reporter at The Wall Street Journal. On Monday, more than 12 years after that... In 2008, when Apple acquired a semiconductor startup called P.A. Semi, I asked Steve Jobs,...
Apple CEO Tim Cook. Photo by Bloomberg
The Briefing

Tech’s Anti-Apple Campaign Builds: The Information’s Tech Briefing

By Martin Peers · Jun 18, 2020 5:32pm PDT
This might be what’s called a tech bandwagon. Within two days of news that the European Commission is investigating Apple over its App Store rules, a flood of companies’ complaints about the issue have appeared. It all culminated in a Bloomberg report on Thursday quoting Microsoft president Brad Smith calling for antitrust regulators... This might be what’s called a tech bandwagon. Within two days of news that the European...
Attorney General Bill Barr. Photo by Bloomberg
The Briefing

Trump’s Escalating Attacks on Tech: The Information’s Tech Briefing

By Martin Peers · Jun 17, 2020 5:30pm PDT
The Trump administration on Wednesday escalated its attacks on Section 230 liability protections for tech companies, with the Justice Department issuing a 25-page paper that suggested how lawmakers could overhaul the law. Democrats immediately denounced the proposal, which they see as an effort by President Trump and Attorney General Bill Barr... The Trump administration on Wednesday escalated its attacks on Section 230 liability protections...
An aerial shot of Menlo Park in Silicon Valley. Photo by Bloomberg
The Briefing

How Lockdowns Changed Venture Capital: The Information’s Tech Briefing

By Martin Peers · Jun 16, 2020 5:46pm PDT
One of the good things that may come out of the pandemic lockdown is an increase in venture investment in startups outside Silicon Valley. That’s one takeaway from our story today about how some VCs have bowed to the inevitable and made investments in founders after having met them only on Zoom.With face-to-face meetings on hold, founders... One of the good things that may come out of the pandemic lockdown is an increase in venture...
eBay's Silicon Valley headquarters. Photo by AP
eBay’s Cyberstalking Drama: The Information’s Tech Briefing
By Martin Peers · Jun 15, 2020 5:07pm PDT
eBay's Silicon Valley headquarters. Photo by AP
The Briefing

eBay’s Cyberstalking Drama: The Information’s Tech Briefing

By Martin Peers · Jun 15, 2020 5:07pm PDT
Auction site eBay has gone through some fascinating corporate drama lately, including a power struggle on its board involving activist investor Elliott and the departure of CEO Devin Wenig last year. But nothing can compare to the extraordinary allegations made by the Justice Department in a cyberstalking case filed on Monday against former... Auction site eBay has gone through some fascinating corporate drama lately, including a power...