Periodically

The Takeaway

By Jessica 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

The Takeaway

The Truth about Next Year’s IPO ‘Rush’

By Jessica Lessin · Sep 16, 2016 7:01am PDT · 3 comments
Greetings from New York, where I spent the week with subscribers and catching up with the industry that Silicon Valley loves to hate (but doesn’t really): Wall Street. With tech giants like Snapchat and Dropbox eyeing IPOs next year, I was curious what bankers would tell me about the preparations. More importantly, I wanted to know how the... Greetings from New York, where I spent the week with subscribers and catching up with the...
The Takeaway

News is Not a Venture-Backed Business

By Jessica Lessin · Sep 9, 2016 7:02am PDT · 22 comments
Another week, another news site raising venture capital. Make that two. Politico co-founder Jim VandeHei’s new business and politics venture raised a $10 million series A from Lerer Hippeau Ventures and NBC. Cheddar, a video news network, raised $10 million more from Lightspeed Venture Partners, Ribbit Capital and Comcast. Recently, Josh... Another week, another news site raising venture capital. Make that two. Politico co-founder Jim...
The Takeaway

When Independent Directors Aren’t

By Jessica Lessin · Sep 2, 2016 7:01am PDT · 2 comments
Alphabet executive David Drummond this week announced he had stepped off the Uber board. As Amir wrote, Drummond hadn’t been attending Uber board meetings for some time. How Uber and Alphabet maneuvered Drummond’s absences isn’t clear. The courts are unforgiving about ensuring directors have equal rights to information. I... Alphabet executive David Drummond this week announced he had stepped off the Uber board. As Amir...
Lyft co-founder John Zimmer. Photo by Bloomberg.
RIP Uber Versus Lyft
By Jessica Lessin · Aug 26, 2016 7:02am PDT · 2 comments
Lyft co-founder John Zimmer. Photo by Bloomberg.
The Takeaway

RIP Uber Versus Lyft

By Jessica Lessin · Aug 26, 2016 7:02am PDT · 2 comments
I have some advice for Lyft and Uber: Get over each other. Tensions, always simmering between the two, flared this week. In an unusual press blitz, Lyft co-founder John Zimmer and a Lyft spokesman blamed Uber for fueling rumors it was desperately shopping itself. They were responding to a series of reports that companies like Amazon.com, Google... I have some advice for Lyft and Uber: Get over each other. Tensions, always simmering between the...
Peter Thiel speaking at the RNC. Photo by Bloomberg.
The Takeaway

A Letter to Peter Thiel

By Jessica Lessin · Aug 19, 2016 7:02am PDT · 8 comments
Dear Peter, I’m the only journalist I am aware of who has been openly sympathetic toward your campaign against Gawker. I’ve taken quite a bit of heat for it. But I still believe that you, like everyone else, have a right to support lawsuits against media organizations you believe have violated the law. A world where the uber-rich can... Dear Peter, I’m the only journalist I am aware of who has been openly sympathetic toward...
Jet.com CEO Marc Lore. Photo by AP.
The Takeaway

How Walmart Can Play Amazon’s Game

By Steve Nellis · Aug 12, 2016 7:02am PDT · 8 comments
It’s Steve here, filling in for Jessica who’s on vacation. Walmart’s $3.3 billion purchase of Jet.com has prompted debate about whether the deal is a sign that Jet failed or not. A more interesting question is the impact Jet CEO Marc Lore will have on Walmart.com, which he’s taking over. Specifically, can Mr. Lore change... It’s Steve here, filling in for Jessica who’s on vacation. Walmart’s $3.3...
Didi Chuxing CEO Cheng Wei. Photo by Bloomberg.
The Takeaway

The Deeper Significance of Didi Chuxing

By Jessica Lessin · Aug 5, 2016 7:01am PDT · 2 comments
Didi Chuxing’s acquisition of UberChina drew plenty of headlines this week from outlets including this one. (One of my favorites is here.) Yet a piece of the story remains misunderstood: how Didi won. Reporters and other general tech observers have been quick to blame the Chinese government, which has and continues to stymie so many... Didi Chuxing’s acquisition of UberChina drew plenty of headlines this week from outlets...
Meet The Information Reporters—and What to Ask Them
By Jessica Lessin · Jul 29, 2016 7:00am PDT
The Takeaway

Meet The Information Reporters—and What to Ask Them

By Jessica Lessin · Jul 29, 2016 7:00am PDT
People often ask me what makes The Information stories different from articles in other publications. The answer is simple: our reporters. They are smart, hungry and make hundreds of phone calls a week. And they’re not afraid of our model, which requires them to come up with new stories no one else is writing. This week, I wanted to help... People often ask me what makes The Information stories different from articles in other...
Photo by Bloomberg.
The Takeaway

Why Yahoo is a Bad Deal at Any Price

By Jessica Lessin · Jul 22, 2016 7:01am PDT · 6 comments
As I watch the sideshow that is the sale of Yahoo, I have one piece of advice for the bidders that sent offers to the Yahoo board this week: Back out. There are three reasons to buy a company, at any price. The first is that you basically have an easy way to make more than you paid, including the opportunity cost of the capital and the effort... As I watch the sideshow that is the sale of Yahoo, I have one piece of advice for the bidders...
People playing Pokemon Go in New York City this week. Photo by Bloomberg.
The Takeaway

My Problem with Pokemon GO

By Jessica Lessin · Jul 15, 2016 7:02am PDT · 4 comments
I have a confession to make. I don’t think Pokemon GO is all that awesome. Now, I’m not into games to begin with, so my reaction is hardly surprising. The bigger point is that the game reminds me of the broader problems with augmented reality.Our mobile phones are really crummy for layering digital information onto the real world.... I have a confession to make. I don’t think Pokemon GO is all that awesome. Now, I’m...
Zynga CEO Mark Pincus, Facebook CFO David Wehner and Facebook CEO at Mark Zuckerberg at Sun Valley this week. Photo by Bloomberg.
The Takeaway

What We Learned at Sun Valley

By Amir Efrati and Tom Dotan · Jul 8, 2016 7:02am PDT
This week’s column comes from Amir Efrati and Tom Dotan, reporting from Allen & Co.’s annual Sun Valley conference this week. The gathering began more than 30 years ago as a forum for traditional media companies. But the power long ago shifted to tech companies. That’s reflected in the attendee list and much of what goes on... This week’s column comes from Amir Efrati and Tom Dotan, reporting from Allen &...
Sen. Elizabeth Warren. Photo by Bloomberg.
The Coming Tech Referendum
By Jessica Lessin · Jul 1, 2016 7:00am PDT · 5 comments
Sen. Elizabeth Warren. Photo by Bloomberg.
The Takeaway

The Coming Tech Referendum

By Jessica Lessin · Jul 1, 2016 7:00am PDT · 5 comments
After Britain slapped the European establishment in the face with Brexit and Trump supporters are doing the same in the U.S., I’ve been wondering: Who’s next?I haven’t had to look very far beyond my ZIP code. The next wave of populist anger is heading for the tech elites and the businesses they’re building. After Britain slapped the European establishment in the face with Brexit and Trump supporters are...
Elon Musk. Photo by Bloomberg.
The Takeaway

Elon Musk and When Vision Isn’t Enough

By Jessica Lessin · Jun 24, 2016 7:00am PDT · 2 comments
When Elon Musk proposed Tesla rescue the flailing SolarCity, I was hardly surprised. He’s floated the idea to friends for years. What surprised me was that Tesla shareholders, stock analysts and industry experts don’t seem to be buying the proposal. Is Musk’s uncanny ability to charm the tech industry and Wall Street wearing... When Elon Musk proposed Tesla rescue the flailing SolarCity, I was hardly surprised. He’s...
LinkedIn CEO Jeff Weiner. Photo by Bloomberg.
The Takeaway

LinkedIn’s Long Leash Poses Risk for Microsoft

By Steve Nellis · Jun 17, 2016 7:01am PDT · 4 comments
Steve here, filling in for Jessica this week. In the past few days, I’ve talked to a lot of people about Microsoft’s $26.2 billion deal to buy LinkedIn. One thing has become clear. Talk about the potential benefits of integrating LinkedIn’s huge set of data with Microsoft’s workplace software sounds promising. But the... Steve here, filling in for Jessica this week. In the past few days, I’ve talked to a lot of...
Alphabet CEO Larry Page. Photo by Bloomberg.
The Takeaway

The Real Problem with Larry Page’s Flying Cars

By Jessica Lessin · Jun 10, 2016 7:00am PDT · 6 comments
Is it me or does Larry Page’s secret flying car company—revealed this week by Bloomberg BusinessWeek—not smell right? It’s not that the idea is straight out of science fiction. That’s hardly surprising in Silicon Valley these days.It’s that, last I checked, Page ran a public company that prided itself on its... Is it me or does Larry Page’s secret flying car company—revealed this week by ...
Uber CEO Travis Kalanick. Photo by Bloomberg.
Silicon Valley: It’s Time to Look in the Mirror
By Jessica Lessin · Jun 3, 2016 7:01am PDT · 6 comments
Uber CEO Travis Kalanick. Photo by Bloomberg.
The Takeaway

Silicon Valley: It’s Time to Look in the Mirror

By Jessica Lessin · Jun 3, 2016 7:01am PDT · 6 comments
Last week, I argued that the public was too quick to pounce on tech companies and leaders for pursuing hidden agendas against the media. This week, I want to talk about how tech leaders are making their image problems worse.It’s plain to everyone that there is a huge and widening gap between the tech titans of today and ordinary people.... Last week, I argued that the public was too quick to pounce on tech companies and leaders for...
Peter Thiel. Photo by Bloomberg.
The Takeaway

Let Silicon Valley Speak

By Jessica Lessin · May 27, 2016 7:00am PDT · 10 comments
These past few weeks, Silicon Valley’s been awash with controversies around tech leaders’ secret agendas for manipulating the news. Conservative leaders questioned the impartiality of a Facebook feature that curates the news. Commentators question whether Peter Thiel’s backing of anti-Gawker lawsuits is appropriate. These past few weeks, Silicon Valley’s been awash with controversies around tech...
The Takeaway

Machine Learning, AI and Bullshit Detection

By Jessica Lessin · May 20, 2016 7:01am PDT · 8 comments
Sometimes I feel like Silicon Valley has become one big collective company. Name a major tech company that isn’t working on all of the following: VR, bots, personal assistants, home speakers, messaging apps.And on the face of it, very little sets apart the Google flavor of these products—unveiled at the I/O conference this... Sometimes I feel like Silicon Valley has become one big collective company. Name a major tech...
The Takeaway

What Apple’s Investment in Didi Means

By Jessica Lessin and Amir Efrati · May 12, 2016 11:33pm PDT · 1 comment
Jessica and Amir here, with breaking reporting about Apple’s surprising $1 billion investment in China’s Didi Chuxing.Thursday night, Apple—which has only invested big sums in a tiny handful of companies in its entire history—announced the investment in China’s dominant ride-sharing company and the thorn in... Jessica and Amir here, with breaking reporting about Apple’s surprising $1 billion...
Tim Cook, left, Eddy Cue, Les Moonves and Joe Ianniello of CBS. Photo by Bloomberg.
The Wrong Way to Do ‘Skinny Bundles’
By Jessica Lessin · May 6, 2016 7:01am PDT · 2 comments
Tim Cook, left, Eddy Cue, Les Moonves and Joe Ianniello of CBS. Photo by Bloomberg.
The Takeaway

The Wrong Way to Do ‘Skinny Bundles’

By Jessica Lessin · May 6, 2016 7:01am PDT · 2 comments
It’s been a surprisingly good few weeks for “old media.” While tech high fliers like Alphabet and Apple missed analysts’ earnings expectations, Comcast, CBS and Time Warner beat them. The television business is proving more resilient than investors and the press are giving it credit for. It’s been a surprisingly good few weeks for “old media.” While tech high fliers...