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

What’s At Stake for Silicon Valley in the Trade Battle With China

By Jessica Lessin · Jul 13, 2019 7:47am PDT
This week our Asia team stayed up late to lead a subscriber conference call on the future relationship between Chinese and U.S. tech. Foreign correspondents must join new parents as among the most sleep-deprived sets of humans. (Shout out to those on our team who are both!)It was a great call, and I learned a lot from our team, which includes... This week our Asia team stayed up late to lead a subscriber conference call on the future...
The Takeaway

Watching Tim Cook at Sun Valley

By Jessica Lessin · Jul 6, 2019 7:46am PDT
The stakes are high for many CEOs at Sun Valley this year, which begins this Tuesday. Silicon Valley needs to make nice with its enemies, with looming antitrust investigations that could break apart several businesses. The large media conglomerates, which have long agitated for such scrutiny of tech, are themselves still trying to rearrange the... The stakes are high for many CEOs at Sun Valley this year, which begins this Tuesday. Silicon...
The Takeaway

My Last Interaction With Jony Ive

By Jessica Lessin · Jun 29, 2019 7:46am PDT
It was my first week on the Apple beat at the Wall Street Journal in 2011 and Steve Jobs had recently passed away. Tim Cook was in charge, and I was waiting for him to make a big move to show how he was going to be different from—or similar to—Jobs.Cook announced a few changes here and there—corporate philanthropy stuff and the... It was my first week on the Apple beat at the Wall Street Journal in 2011 and Steve Jobs had...
Stewart Butterfield and the Changing of the SaaS Guard
By Jessica Lessin · Jun 23, 2019 9:21pm PDT
The Takeaway

Stewart Butterfield and the Changing of the SaaS Guard

By Jessica Lessin · Jun 23, 2019 9:21pm PDT
Slack’s listing got a lot of attention for its unusual structure. No underwriters, as is standard in a traditional initial public offering. No weeks on the road pitching the company to investors in hotel meeting rooms. Just let the shares float and see what happens. (As an aside, it seems like the banks were quite involved behind the... Slack’s listing got a lot of attention for its unusual structure. No underwriters, as is...
The Takeaway

Another Antitrust Lesson From Microsoft

By Jessica Lessin · Jun 8, 2019 8:01am PDT
It was an interesting start to the week: headlines announcing that the Justice Department is preparing an antitrust investigation into Google. What’s more, the U.S.’s two antitrust enforcers had divvied up the major tech platforms, deciding that the Justice Department would be responsible for future Google and Apple investigations.... It was an interesting start to the week: headlines announcing that the Justice Department is...
The Takeaway

Why Facebook Can’t Have It Both Ways

By Jessica Lessin · Jun 1, 2019 1:38pm PDT · 1 comment
Facebook remained in Nancy Pelosi purgatory this week, as the Speaker of the House slammed Facebook for refusing to remove the doctored video that made her look drunk. Facebook held its ground.As you can imagine, the chattering types in Silicon Valley have been busy spewing their opinions. There are essentially two opposing viewpoints: (1) free... Facebook remained in Nancy Pelosi purgatory this week, as the Speaker of the House slammed...
The Takeaway

The Mystery of the Vanishing Software Startup

By Jessica Lessin · May 25, 2019 10:04am PDT · 4 comments
Lately, tech IPOs and massive late-stage fundraises have grabbed so much attention that they are eclipsing another important part of the startup market: the early stages. But the young tech companies of today are the Ubers of tomorrow. They deserve more coverage and attention.With that in mind, this week I set out to understand how the funding... Lately, tech IPOs and massive late-stage fundraises have grabbed so much attention that they are...
Silicon Valley’s Progressive Blind Spot
By Jessica Lessin · May 18, 2019 8:45am PDT · 2 comments
The Takeaway

Silicon Valley’s Progressive Blind Spot

By Jessica Lessin · May 18, 2019 8:45am PDT · 2 comments
Last week, I criticized Facebook co-founder Chris Hughes’s argument over the need to break up Facebook. “We break up companies when they are bad for competition, not when their CEOs hold too much power,” I wrote.My belief was based, in large part, on the fact that recent antitrust cases have targeted companies whose... Last week, I criticized Facebook co-founder Chris Hughes’s argument over the need to break...
The Takeaway

Why the Startup Bubble Could Be About to Burst

By Jessica Lessin · May 4, 2019 7:06am PDT · 3 comments
If there has been one way to get laughed out of a room in Silicon Valley these past few years, it is to draw comparisons between the present day and the frothy late 90s.Do so, and you are likely to get a lecture on all the reasons why the current tech “boom” in no way resembles the tech “bubble” that burst nearly two... If there has been one way to get laughed out of a room in Silicon Valley these past few years, it...
Jack Valenti. Photo by Bloomberg
The Takeaway

Why Tech’s Infighting Feeds Critics

By Christopher Stern · Apr 27, 2019 7:47am PDT
The current storm of political attacks on big tech in Washington D.C. reminds me of a period in the 1990s, when the television industry was facing bipartisan outrage over the amount of sex and violence on TV. Back then, just as is happening now in tech, elements of the entertainment industry tried to shift the blame to other parts: local... The current storm of political attacks on big tech in Washington D.C. reminds me of a period in...
Microsoft CEO Satya Nadella, whose company is reporting earnings next week.
The Takeaway

Tech Earnings Spotlight Growth Concerns

By The Information Staff · Apr 20, 2019 7:47am PDT
Many big tech companies—Facebook, Amazon, Microsoft, Twitter and Snap—report their March quarter results next week, while Alphabet and Apple come the week after. The earnings dump is a great way to assess the state of the business. To give you a sense of what to expect, here’s a cheat sheet on each company, assembled by our... Many big tech companies—Facebook, Amazon, Microsoft, Twitter and Snap—report their...
SoftBank CEO Masayoshi Son in front of a map showing ride-hailing firms partly owned by SoftBank. Photo by Bloomberg
What Uber Must Do To Make Money
By Amir Efrati · Apr 13, 2019 7:46am PDT · 1 comment
SoftBank CEO Masayoshi Son in front of a map showing ride-hailing firms partly owned by SoftBank. Photo by Bloomberg
The Takeaway

What Uber Must Do To Make Money

By Amir Efrati · Apr 13, 2019 7:46am PDT · 1 comment
After a scandal-plagued 2017, the perception of Uber has improved over the past year or so, at least among investors, employees and the media. So this week, with the release of its IPO prospectus, Uber could have been ready to take a victory lap. It was expected to show an improving financial picture, demonstrating that the company’s... After a scandal-plagued 2017, the perception of Uber has improved over the past year or so, at...
Lyft's co-founders John Zimmer and Logan Green the day the company went public. Photo by Bloomberg
The Takeaway

Lyft’s IPO Lessons

By Martin Peers · Apr 6, 2019 7:45am PDT
Lyft’s dramatic drop through its IPO price on its second day of trading on Monday sparked a lot of chatter about Lyft’s offering and the stock’s unusual short-selling-related trading patterns. The shares recovered by Friday, finishing the week above $74, so the immediate impact of the short-selling appears to have passed. But... Lyft’s dramatic drop through its IPO price on its second day of trading on Monday sparked a...
The Takeaway

The Apple Brand and Its Hidden Messages

By Jessica Lessin · Mar 30, 2019 10:16am PDT
Long before Friday’s Lyft IPO mania, we were all talking about Apple’s big Monday media event, which I watched from afar.Maybe it was because we already knew what was coming. Or that Apple wasn’t ready to share many details.But the thing I can't get out of my head about Apple’s big media news this week has nothing to... Long before Friday’s Lyft IPO mania, we were all talking about Apple’s big Monday...
Mike Trout during spring training on Friday. Photo by AP
The Takeaway

Take Me Out to the Tech IPO

By Cory Weinberg · Mar 23, 2019 7:46am PDT · 1 comment
Major League Baseball’s season is getting started, so baseball is on my mind—including the parallels between baseball and tech. For instance, Mike Trout of the Los Angeles Angels last week signed the biggest contract in North American professional sports, worth $430 million over 12 years. Lyft, Uber and Pinterest are about to go... Major League Baseball’s season is getting started, so baseball is on my...
House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer unveil the Save the Internet Act earlier in March. Photo by AP.
Behind Washington’s Net Neutrality Debate: Deep Pockets
By Christopher Stern · Mar 16, 2019 7:46am PDT · 3 comments
House Speaker Nancy Pelosi and Senate Minority Leader Chuck Schumer unveil the Save the Internet Act earlier in March. Photo by AP.
The Takeaway

Behind Washington’s Net Neutrality Debate: Deep Pockets

By Christopher Stern · Mar 16, 2019 7:46am PDT · 3 comments
Sometime in the next two weeks, a billboard is set to pop up at a busy intersection in downtown Phoenix accusing Arizona Senator Kyrsten Sinema of “corruption.” Her supposed crime: she doesn’t support the “Save The Internet Act,” a bill that would codify into law the Net Neutrality rules revoked by the Trump... Sometime in the next two weeks, a billboard is set to pop up at a busy intersection in downtown...
Tech leaders with President Trump. Photo by Bloomberg
The Takeaway

Will Attack on Tech Resonate With Voters?

By Nick Wingfield · Mar 9, 2019 8:00am PST · 1 comment
Tech leaders must look back wistfully at the 2012 U.S. presidential election, when the most pertinent question facing the industry was which executives from Google would end up working in the White House. Fast forward to 2019, and one of the leading Democratic presidential candidates, Elizabeth Warren, has just made breaking up the tech... Tech leaders must look back wistfully at the 2012 U.S. presidential election, when the most...
Google's Silicon Valley campus. Photo by Bloomberg.
The Takeaway

What’s Future of Internet?

By Tom Dotan · Mar 2, 2019 9:51am PST
What is the future of the internet?Should it be open or closed? Free-ranging content or curated? These questions, which go to the very heart of the internet and tech business models, creep into the zeitgeist whenever there’s a scandal involving a major internet company. What is the future of the internet?Should it be open or closed? Free-ranging content or curated?...
The Takeaway

My Spring Tech Outlook: Media, IPOs and More

By Jessica Lessin · Feb 24, 2019 10:30am PST
This April, Apple is expected to launch a new streaming video service, some gazillion years since it began discussing internally whether to launch such a service. So, it’s a big moment. But since so much of the content has leaked, expect the details, as written about several times by our team, to underwhelm.Don’t miss the bigger... This April, Apple is expected to launch a new streaming video service, some gazillion years since...
Why This Next Era in Tech May Favor the Incumbents
By Jessica Lessin · Feb 16, 2019 6:27pm PST · 4 comments
The Takeaway

Why This Next Era in Tech May Favor the Incumbents

By Jessica Lessin · Feb 16, 2019 6:27pm PST · 4 comments
As those of you stuck in traffic in San Francisco this week or still gawking at your Uber surcharges can attest, it was a big week for non-Bay Area companies descending on our shores. IBM hosted its annual developer THINK conference while Goldman Sachs hosted its annual Internet company conference a few blocks away. I attended parts of both... As those of you stuck in traffic in San Francisco this week or still gawking at your Uber...