Curbing Tech Ambitions: The Information’s Tech Briefing

Today brought so many tech headlines it’s hard to know where to begin. Uber confirmed the layoffs Amir previously reported. And then there was more big news from Facebook, as well as first quarter updates from Lyft and Peloton. 

I've been wondering lately whether Silicon Valley companies, as they downsize, are going to pare back their overall ambitions—in effect reversing or slowing their decade-long encroachment into other industries. For instance, Airbnb CEO Brian Chesky said yesterday that Airbnb was going to step away from more experimental areas, like media, to focus on its core business. I suspect that's a theme we are going to hear again and again in the coming weeks.