Periodically

The Takeaway

By Jessica E. Lessin

An inside perspective on tech, media and startups from a reporter and founder who tells the truth about Silicon Valley.

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Recent Editions

Dropbox CEO Drew Houston. Photo by Bloomberg.
The Takeaway

Why We Should Ignore Tech IPOs

By Jessica E. Lessin · Jan 12, 2018 7:01am PST · 6 comments
Another January, another wave of predictions that this will be the year the tech IPO floodgates open. Dropbox kicked off the latest cycle, filing paperwork confidentially with the Securities and Exchange Commission last year, I am told. The news held until Thursday when Bloomberg reported the company had filed. Another January, another wave of predictions that this will be the year the tech IPO floodgates...
The Takeaway

The Simple Thing People Miss About Cryptocurrencies

By Jessica E. Lessin · Dec 8, 2017 7:00am PST · 14 comments
I was recently chatting with a San Francisco wealth manager about bitcoin. He was eager to invest more of his clients’ assets in the virtual currency, but his colleagues in New York were against it. He asked me when New York would “get” that bitcoin and cryptocurrencies were here to stay.  As a reporter who has covered the... I was recently chatting with a San Francisco wealth manager about bitcoin. He was eager to invest...
The Takeaway

The Private Tech Board Crisis and What to Do About It

By Jessica E. Lessin · Dec 1, 2017 7:02am PST · 4 comments
Two years ago, blood testing startup Theranos began its collapse after journalist John Carreyrou revealed some of its technology was a fraud. At the time, I argued that the unraveling of the $9 billion company wasn’t just a failure of a single technology or CEO; it was a failure of the Theranos board and a wake-up call for the private tech... Two years ago, blood testing startup Theranos began its collapse after journalist John Carreyrou...
The Case Against Video
By Jessica E. Lessin · Oct 27, 2017 7:02am PDT · 7 comments
The Takeaway

The Case Against Video

By Jessica E. Lessin · Oct 27, 2017 7:02am PDT · 7 comments
Any way you slice it, a golden age of video is upon us. Faster mobile networks, lower production costs and a thirst for TV ad dollars are driving both video supply and demand. But the euphoria is covering up an important point: Video is a tremendous medium for occupying time, aka serving the “boredom” market. But it is a terrible... Any way you slice it, a golden age of video is upon us. Faster mobile networks, lower production...
Art by Matt Vascellaro
The Takeaway

Why the Tech Industry Is No Better Than Hollywood

By Jessica E. Lessin · Oct 13, 2017 7:01am PDT · 4 comments
When Amazon suspended its movie and film chief on Thursday after a producer accused him of sexual harassment, two things flashed through my head. The first was how meaningless internal corporate “investigations” have become. The producer, Isa Hackett, first told The Information of the 2015 alleged incident and internal investigation... When Amazon suspended its movie and film chief on Thursday after a producer accused him of sexual...
Art by Matt Vascellaro
The Takeaway

Silicon Valley, Ignore China at Your Peril

By Jessica E. Lessin · Sep 29, 2017 7:02am PDT · 2 comments
What a difference a year makes. When I was last in China, everyone was buzzing about VR/AR and Didi vs. Uber. Now, it’s the bike-rental wars between Ofo and Mobike (they’re a bigger deal than you think, but don’t hold your breath for a merger) and pop-up convenience stores. Yes, Bodega is alive and well in China. Startups like... What a difference a year makes. When I was last in China, everyone was buzzing about VR/AR and...
The Capitol Building in Washington, D.C. Photo by Flickr/Karen Neoh.
The Takeaway

For Tech Firms, Winter Is Here

By Jessica E. Lessin · Sep 22, 2017 7:01am PDT
In and around Silicon Valley these days, I am often asked the same question: Do tech companies realize the regulatory heat coming for them?The answer is yes, of course. The tech firms have been preparing for this scrutiny for years. (And true to stereotypes, one Silicon Valley insider referred to it as “Winter is coming. In and around Silicon Valley these days, I am often asked the same question: Do tech companies...
Art: Matt Vascellaro
Talking Snap, Facebook and Disney With NBCUniversal CEO Steve Burke
By Jessica E. Lessin · Sep 15, 2017 7:00am PDT · 4 comments
Art: Matt Vascellaro
The Takeaway

Talking Snap, Facebook and Disney With NBCUniversal CEO Steve Burke

By Jessica E. Lessin · Sep 15, 2017 7:00am PDT · 4 comments
It’s a Thursday afternoon and NBCUniversal CEO Steve Burke is in the mood to talk media. From his office on the 51st floor of 30 Rock, Mr. Burke launches into a blunt assessment of a media landscape that grows more competitive by the day.Over the next hour, we cover a lot of ground, from TV advertising (holding up because ratings are good)... It’s a Thursday afternoon and NBCUniversal CEO Steve Burke is in the mood to talk media....
Former GE CEO Jeff Immelt. Photo by Bloomberg.
The Takeaway

Uber’s CEO Conundrum

By Jessica E. Lessin · Aug 25, 2017 10:00am PDT · 5 comments
Uber is getting closer to naming a CEO after a process that has been full of leaks, fiery internal disagreement and at least one top candidate taking to Twitter to say she doesn’t want the job. Throughout it, I’ve often wondered how it is that Uber—already one of the most valuable private companies in history—is... Uber is getting closer to naming a CEO after a process that has been full of leaks, fiery...
Google's campus. Photo by Flickr/Fotinakis.
The Takeaway

The Problem With Former Googler’s Anti-Diversity Memo

By Jessica E. Lessin · Aug 11, 2017 7:01am PDT · 19 comments
I have many thoughts about Benchmark’s surprise lawsuit against former Uber CEO Travis Kalanick and what it says about the perilous state of governance at mega-private tech companies. But for now, I’m going to leave it at this: If there was ever any doubt about whom VCs work for, the lawsuit should clear it up. It’s their LPs,... I have many thoughts about Benchmark’s surprise lawsuit against former Uber CEO Travis...
Art by Matt Vascellaro
The Takeaway

Announcing The Information Accelerator

By Jessica E. Lessin · Jul 28, 2017 5:46am PDT · 7 comments
The fight to save quality journalism isn’t complicated. It’s just hard.In less than four years, we’ve built The Information into a rapidly growing, cash flow-positive business with millions in revenue and a team of 25. We did so by charging for original reporting from experienced reporters. Plain and simple. And now we want to... The fight to save quality journalism isn’t complicated. It’s just hard.In less than...
Axel Springer CEO Mathias Dopfner. Photo by Bloomberg.
News Industry Can’t Put Genie Back in Bottle
By Jessica E. Lessin · Jul 21, 2017 7:00am PDT · 3 comments
Axel Springer CEO Mathias Dopfner. Photo by Bloomberg.
The Takeaway

News Industry Can’t Put Genie Back in Bottle

By Jessica E. Lessin · Jul 21, 2017 7:00am PDT · 3 comments
This week Facebook confirmed it will begin testing new ways for news publishers to sell digital subscriptions on the social network this fall. Privately, for months, leaders of major news outlets who were being briefed by the company have been expressing enthusiasm for Facebook’s plans. Frankly, I’ve been a little surprised by their... This week Facebook confirmed it will begin testing new ways for news publishers to sell digital...
Art by Matt Vascellaro
The Takeaway

What I Learned From Justin Caldbeck

By Jessica E. Lessin · Jun 30, 2017 7:01am PDT · 18 comments
Binary Capital, the venture capital firm co-founded by Justin Caldbeck, is unraveling.It’s all happened within a week of Reed Albergotti publishing a story in The Information in which six women said they had been treated inappropriately by Mr. Caldbeck, including being groped or being pressured to sleep with him. The story came four... Binary Capital, the venture capital firm co-founded by Justin Caldbeck, is unraveling.It’s...
Uber's former CEO Travis Kalanick. Photo by Bloomberg.
The Takeaway

One More Lesson From the Downfall of Kalanick

By Jessica E. Lessin · Jun 23, 2017 7:02am PDT · 8 comments
One of the lessons some in the media have been quick to draw from the downfall of Travis Kalanick is the peril of unchecked power bestowed on startup founders. And, thus, they prescribe solutions like curbing founder voting rights and stepped up board involvement (which I have long advocated for a number of reasons.) But the argument that... One of the lessons some in the media have been quick to draw from the downfall of Travis Kalanick...
Apple CEO Tim Cook at WWDC. Photo by Bloomberg.
The Takeaway

How Music Drowns Apple’s Innovation

By Jessica E. Lessin · Jun 9, 2017 7:01am PDT · 5 comments
Of all the things that are a little odd about Apple’s new “Planet of the Apps” reality show, perhaps the strangest is that—unlike virtually every show on television—you won’t be able to download the series through iTunes. With the exception of the first episode, you’ll have to be an Apple Music... Of all the things that are a little odd about Apple’s new “Planet of the Apps”...
Elon Musk. Photo by Bloomberg.
Introducing @SiliconValley: Tech Meets Politics
By Jessica E. Lessin · Jun 2, 2017 7:00am PDT · 3 comments
Elon Musk. Photo by Bloomberg.
The Takeaway

Introducing @SiliconValley: Tech Meets Politics

By Jessica E. Lessin · Jun 2, 2017 7:00am PDT · 3 comments
After President Trump announced his decision to pull out of the Paris climate agreement Thursday, corporate leaders weren’t shy about voicing their views.And, much like the president himself, they took to Twitter to do so. After President Trump announced his decision to pull out of the Paris climate agreement Thursday,...
Art by Matt Vascellaro.
The Takeaway

What’s Next in the Business of News

By Jessica E. Lessin · May 19, 2017 7:02am PDT · 13 comments
I am a big believer that history provides more clues than we give it credit for. And this is a good lesson to keep in mind as we wonder which business models will take hold in industries disrupted by technology. In the news business, the patterns are strong. Today’s interest in premium newsletters and sponsored content, to take just two... I am a big believer that history provides more clues than we give it credit for. And this is a...
The U.S. Capitol. Photo by Bloomberg.
The Takeaway

The Valley’s ‘Wait and See’ Approach to D.C.

By Jessica E. Lessin · May 5, 2017 9:41am PDT · 2 comments
Last week, I traveled to the belly of—if not the beast, certainly the news cycle—with a trip to Washington, D.C. And one theme jumped out at me loud and clear: Under the new administration, Silicon Valley is keeping its distance from Washington.Lobbyists once courted by startups in regulatory hotbeds like fintech say they’re... Last week, I traveled to the belly of—if not the beast, certainly the news cycle—with...
Apple co-founder Steve Jobs. Photo by Bloomberg.
The Takeaway

What Disrupted Industries Get Wrong

By Jessica E. Lessin · Apr 21, 2017 7:02am PDT · 10 comments
Over the past few months—as I celebrated the birth of my son—I’ve had a lot of time to follow the news and think about the industry’s future. I look forward to sharing some new observations during my keynote address at our New York Subscriber Summit Tuesday, where we’ll also hear from speakers including Jeff Zucker,... Over the past few months—as I celebrated the birth of my son—I’ve had a lot of...
Photo by Flickr/Hobbies on a Budget.
The Information’s Books of the Year
By Jessica E. Lessin · Jan 20, 2017 7:01am PST · 5 comments
Photo by Flickr/Hobbies on a Budget.
The Takeaway

The Information’s Books of the Year

By Jessica E. Lessin · Jan 20, 2017 7:01am PST · 5 comments
Besides a book or two on surfing and a few novels, I haven’t read many books this past year. But The Information subscribers are way ahead of me. Our annual list of the books most recommended by subscribers is a motley assortment. It includes a sci-fi cult classic headed to the big screen; a poignant look at the struggles of the white... Besides a book or two on surfing and a few novels, I haven’t read many books this past...