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

The Takeaway

Has Subscription Media Peaked?

By Jessica E. Lessin · Jan 19, 2019 1:36pm PST · 5 comments
For someone with a keen interest—ok, obsession—with media business models, I can’t help but notice an interesting trend: Free ad-supported media is back in vogue.Tom and Jessica wrote about a slew of new ad-supported video services Friday, including Pluto TV, which Viacom is in talks to acquire for $300 million to $500 million,... For someone with a keen interest—ok, obsession—with media business models, I...
The Takeaway

The Information’s Books to Get Ahead in 2019

By Jessica E. Lessin · Jan 12, 2019 8:21am PST · 1 comment
This time of year, recommended reading lists abound. But if there is one thing we know about The Information subscribers, it’s that you are curious, smart and always looking to expand your knowledge. So we pulled together a list of books that you told us you love, spanning categories from tech to self-improvement to yes, even fiction!... This time of year, recommended reading lists abound. But if there is one thing we know about The...
The Takeaway

Still Waiting for the IPO Tech Boom? You’re Late.

By Jessica E. Lessin · Dec 22, 2018 8:32am PST
Last week, my column handicapped what will certainly be a big IPO year in 2019. This week, I want to say more about the year we already had—and a trend that I suspect some of you missed.Despite the fact that many big names (Uber, Airbnb) were still waiting it out, 2018 was a record year for tech IPOs, as determined by their size. There... Last week, my column handicapped what will certainly be a big IPO year in 2019. This week, I want...
Chart by Mike Sullivan.
What Public Tech Investors Want
By Jessica E. Lessin · Dec 15, 2018 10:22am PST · 1 comment
Chart by Mike Sullivan.
The Takeaway

What Public Tech Investors Want

By Jessica E. Lessin · Dec 15, 2018 10:22am PST · 1 comment
It’s all but certain that Uber, Lyft and several other private companies will go public in 2019. What is far less clear is how public market investors, in a potentially jittery market, will receive them.These companies, and their venture capital investors, represent the Silicon Valley bulls who believe public investors will rally behind... It’s all but certain that Uber, Lyft and several other private companies will go public in...
The Takeaway

The Tech Industry: 2018 Through 2023

By Jessica E. Lessin · Dec 8, 2018 12:58pm PST · 1 comment
Last week we looked backwards. This week, we are looking ahead at subjects that we think will shape the tech industry over the next five years. There are some common themes that run across several of these topics, including the continued growth of artificial intelligence. (Although our team fiercely debated whether its impact will be more... Last week we looked backwards. This week, we are looking ahead at subjects that we think will...
The Takeaway

The Tech Industry: 2013 through 2018

By Jessica E. Lessin · Dec 1, 2018 6:36pm PST · 4 comments
In the news business, we love looking forward. But you learn a lot by looking backwards, too. So on the eve of our 5th anniversary next week, our two-dozen reporters and editors huddled in a conference room (and around the virtual Google Hangout) and hashed out the five defining themes of the last five years. After an hour or so of debating... In the news business, we love looking forward. But you learn a lot by looking backwards, too. So...
The Takeaway

Time for a New Type of Tech CEO?

By Jessica E. Lessin · Nov 24, 2018 9:12am PST · 6 comments
It’s been a tough month for tech’s most powerful CEOs, capping a tough year. For Mark Zuckerberg, Sundar Pichai, Elon Musk, Evan Spiegel and even Jeff Bezos, 2018 brought intense media attention, crises of investor confidence and a drumbeat of regulatory scrutiny like nothing in recent history.But you know who had a pretty good year?... It’s been a tough month for tech’s most powerful CEOs, capping a tough year. For Mark...
The Trump Effect Is Infecting Tech News
By Jessica E. Lessin · Nov 18, 2018 11:18am PST · 1 comment
The Takeaway

The Trump Effect Is Infecting Tech News

By Jessica E. Lessin · Nov 18, 2018 11:18am PST · 1 comment
Since President Donald Trump was elected, Trump and tech news have been entwined. The role tech companies played in spreading misinformation during his campaign—and the ensuring regulatory hearings, Presidential tweets and the like—have joined tech companies to the political news cycle in unprecedented ways.So perhaps it is no... Since President Donald Trump was elected, Trump and tech news have been entwined. The role tech...
The Takeaway

Former Instagram Chief Kevin Systrom on News

By Jessica E. Lessin · Nov 10, 2018 11:56am PST · 1 comment
Thursday was one of my favorite days of the year. Twice a year, we gather media professionals to talk about, well, the future of media. It’s a program based on the bootcamp we run for the media companies we invest in—condensed to eight grueling hours of talking about subscription funnels, analytics packages and where this crazy... Thursday was one of my favorite days of the year. Twice a year, we gather media professionals to...
The Takeaway

Don’t Give Up on Snap

By Jessica E. Lessin · Nov 3, 2018 3:37pm PDT · 1 comment
It’s been a tough two weeks for Snap, following a tough year. Even two solid executive hires couldn’t overshadow this week’s earnings report—which warned its daily audience will continue to shrink. The company’s stock reached an all-time low below $6 a share this week and has lost half its market value this year.... It’s been a tough two weeks for Snap, following a tough year. Even two solid executive...
The Takeaway

In Silicon Valley, Silence on Saudi

By Jessica E. Lessin · Oct 27, 2018 8:10pm PDT · 2 comments
As business leaders made headlines by joining—or skipping—the Saudi’s annual Future Investment Initiative conference in Riyadh, I spent much of this week trying to track down whether Silicon Valley was going to turn its back on Saudi Arabia, and its partner SoftBank, as the global crisis over Jamal Khashoggi’s murder... As business leaders made headlines by joining—or skipping—the Saudi’s annual...
Tech IPO Mania? Not So Fast.
By Jessica E. Lessin · Oct 20, 2018 9:15am PDT
The Takeaway

Tech IPO Mania? Not So Fast.

By Jessica E. Lessin · Oct 20, 2018 9:15am PDT
In recent weeks, Lyft has hired J.P. Morgan, Credit Suisse and Jefferies to lead its IPO and bankers are circling Uber, wooing them with predictions of a $120B market valuation—nearly twice its current private market price. Palantir, Postmates, and even eventually Pax, are contemplating IPOs too, several outlets, including WSJ, Reuters and... In recent weeks, Lyft has hired J.P. Morgan, Credit Suisse and Jefferies to lead its IPO and...
The Takeaway

Why Product Doesn’t Win

By Jessica E. Lessin · Oct 13, 2018 9:37am PDT · 12 comments
In the past few weeks, as some of the Valley’s most mature  internet companies have faced crisis after crisis, there’s been a theme circulating that these companies, and Facebook in particular, has lost their product way.This chatter peaked when journalists and others suggested that Instagram co-founder Kevin Systrom should run... In the past few weeks, as some of the Valley’s most mature  internet companies have...
The Takeaway

Facebook Gets a Taste of Its Own Medicine

By Jessica E. Lessin · Oct 6, 2018 6:01pm PDT · 1 comment
“Should Mark move Facebook out of Silicon Valley?”It was a strange text message to receive Thursday afternoon, but I instantly knew what it was about: this well-reported New York Times article revealing the uproar that had occurred inside Facebook over vice president of global policy Joel Kaplan sitting behind his close friend and... “Should Mark move Facebook out of Silicon Valley?”It was a strange text message to...
The Takeaway

Come On, Elon

By Jessica E. Lessin · Sep 29, 2018 1:22pm PDT
(Update: Elon Musk has settled with the Securities and Exchange Commission.)I’ve written little about Elon Musk’s troubles in recent weeks, because frankly I couldn’t think of much interesting to say other than “That’s Elon. He thinks the rules don’t apply to him. But he’s wrong, and this will come back... (Update: Elon Musk has settled with the Securities and Exchange Commission.)I’ve written...
Where Venture Capital Is Broken
By Jessica E. Lessin · Sep 23, 2018 7:57pm PDT · 2 comments
The Takeaway

Where Venture Capital Is Broken

By Jessica E. Lessin · Sep 23, 2018 7:57pm PDT · 2 comments
In his interview with Reed Albergotti, Social Capital founder Chamath Palihapitiya didn’t mince his words when describing why he is transforming Social Capital into a tech holding company (aka he wants to “flush” out bad investors). He was also quite blunt in his analysis of what is wrong with venture capital.The summary of his... In his interview with Reed Albergotti, Social Capital founder Chamath Palihapitiya didn’t...
The Takeaway

Wall Street ‘08 vs. Silicon Valley ‘18

By Jessica E. Lessin · Sep 15, 2018 4:00pm PDT · 3 comments
Outside the tech bubble this week, the media was awash with stories pegged to the 10th anniversary of the collapse of Lehman Brothers and onset of the 2008 financial crisis. And there was one analogy some commentators seemed to want to draw very badly: comparing the financial crisis to a coming reckoning for Silicon Valley. (Example, here. Outside the tech bubble this week, the media was awash with stories pegged to the 10th...
The Takeaway

Google’s Choice: Washington, D.C. or Beijing

By Jessica E. Lessin · Sep 8, 2018 8:53am PDT · 1 comment
While the tech industry was fixated on Washington D.C. this week, I was thinking about a country 12 time zones away.China wasn’t the subject of the Senate Committee on Intelligence hearings where Facebook’s Sheryl Sandberg and Twitter’s Jack Dorsey dutifully said little of note. President Trump didn’t bring it up when... While the tech industry was fixated on Washington D.C. this week, I was thinking about a country...
The Takeaway

Spotlight: Sheryl Sandberg

By Jessica E. Lessin · Sep 1, 2018 4:00pm PDT
Next’s week’s Senate Intelligence Committee hearing on foreign influence on tech platforms will rehash themes we’re all probably a little tired of by now—while giving tech leaders a chance to show off how their efforts to dismantle information campaigns are improving.Two things about the hearing—in which Twitter CEO... Next’s week’s Senate Intelligence Committee hearing on foreign influence on tech...
Google’s Real Motive in China
By Jessica E. Lessin · Aug 4, 2018 10:45am PDT · 3 comments
The Takeaway

Google’s Real Motive in China

By Jessica E. Lessin · Aug 4, 2018 10:45am PDT · 3 comments
I remember Google co-founder Sergey Brin calling me up in 2010 to tell me why Google was shutting down its censored Chinese search engine. China has "made great strides against poverty and whatnot," he told me. "But nevertheless, in some aspects of their policy, particularly with respect to censorship, with respect to surveillance... I remember Google co-founder Sergey Brin calling me up in 2010 to tell me why Google was shutting...