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The Briefing

By Martin Peers, Jessica Lessin and the team at The Information

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Recent Editions

Patrick Collison, CEO of Stripe, at an event by The Information in 2017. Photo by Erin Beach.
The Briefing

Stripe’s Bridge to Crypto

By Martin Peers · Oct 21, 2024 5:00pm PDT
Crypto is so back, baby! Payments firm Stripe confirmed that today with its deal—reportedly $1.1 billion—to buy Bridge, a startup that helps companies make payments using stablecoin (a type of cryptocurrency backed by dollars and other traditional currencies). Given that Bridge’s revenue may be around $12 million,  as The Information... Crypto is so back, baby! Payments firm Stripe confirmed that today with its deal—reportedly $1.1...
Photo via Getty
The Briefing

Where Amazon Might Be Taking Whole Foods

By Theo Wayt · Oct 18, 2024 3:00pm PDT
In John Mackey’s new memoir, the Whole Foods founder and former CEO recalls how in mid-2022, shortly before he left the grocery chain, he took MDMA and psilocybin during a spiritual retreat. While under the influence, Mackey agonized over the ways he had been “disrespected and disempowered” after selling Whole Foods to Amazon five years earlier,... In John Mackey’s new memoir, the Whole Foods founder and former CEO recalls how in mid-2022,...
Demis Hassabis. Photo by Getty.
The Briefing

Google Fixes AI Structural Flaw

By Martin Peers · Oct 17, 2024 5:00pm PDT
Google might move slowly but it gets there eventually. Well, at least that’s the theory. A shake-up in the management ranks of the tech giant, unveiled on Thursday, belatedly fixes a flaw in the company’s artificial intelligence organization, one that had constrained its ability to compete with ChatGPT’s creator, OpenAI.CEO Sundar Pichai today... Google might move slowly but it gets there eventually. Well, at least that’s the theory. A...
Photo via Getty
Tech Revives Nuclear
By Martin Peers · Oct 16, 2024 5:00pm PDT
Photo via Getty
The Briefing

Tech Revives Nuclear

By Martin Peers · Oct 16, 2024 5:00pm PDT
Big tech has well and truly gone nuclear. Amazon’s announcement today that it has signed three deals for the development of nuclear power reactors—including leading a $500 million funding round for a reactor developer called X-energy (not related to the X-obsessed Elon Musk)—demonstrates clearly how the tech industry is helping to revive nuclear... Big tech has well and truly gone nuclear. Amazon’s announcement today that it has signed three...
Steve Schwarzman, co-founder and CEO of Blackstone. Photo via Getty.
The Briefing

Blackstone's Giant Data Center Bet

By Martin Peers · Oct 15, 2024 5:00pm PDT · 1 comment
Big tech companies don’t report September-quarter earnings until the end of this month. But you don’t have to wait until then to get an update on the artificial intelligence data center gold rush that’s now underway. Instead, just tune in to Blackstone’s earnings call on Thursday.The giant investment firm has emerged as one of the big global... Big tech companies don’t report September-quarter earnings until the end of this month. But you...
The Briefing Newsletter
Get smarter about the most important stories in tech, media and finance by following Silicon Valley’s most-read executive newsletter.
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Photo via Adobe.
The Briefing

Netflix’s Earnings Will Test Pricey Stock

By Martin Peers · Oct 14, 2024 5:00pm PDT
It may feel like we’ve just finished earnings season—but hey, time flies when you’re having fun. Yes, earnings are upon us again. Netflix, as always, kicks off tech’s roster of quarterly reports on Thursday. And there are a bunch of recent buyers of Netflix stock who have much riding on what the streaming giant reports.Netflix stock has hit new... It may feel like we’ve just finished earnings season—but hey, time flies when you’re having fun....
Thursday night's Tesla event. Photo via YouTube
The Briefing

Musk’s Robotaxi Reveal Is a Dud for Investors

By Martin Peers · Oct 11, 2024 3:00pm PDT · 1 comment
You certainly can’t accuse Wall Street of being taken in by a glitzy presentation, at least not this week. Elon Musk’s big robotaxi reveal on Thursday night went down like a lead balloon with investors today. Tesla shares fell 9%, while shares of Uber, whose business is theoretically at risk from a Tesla robotaxi, rose nearly 11% to $86. That... You certainly can’t accuse Wall Street of being taken in by a glitzy presentation, at least not...
Pfizer CEO Albert Bourla. Photo via Getty.
The E-Mail Miscue That Undercut a $1 Billion Corporate Activism Campaign
By Cory Weinberg · Oct 10, 2024 5:00pm PDT
Pfizer CEO Albert Bourla. Photo via Getty.
The Briefing

The E-Mail Miscue That Undercut a $1 Billion Corporate Activism Campaign

By Cory Weinberg · Oct 10, 2024 5:00pm PDT
It’s become well understood that the high-stakes political world more closely mirrors the satire “Veep” than the prestige-draped “The West Wing.” Behind the pomp, circumstance and power are humans who, like all of us, are prone to bumbling mistakes.   The same thing can be said, it seems, about highly choreographed, stealthy... It’s become well understood that the high-stakes political world more closely mirrors the satire...
Photo by Picture Alliance via Getty.
The Briefing

Google’s Slow-Motion Drama

By Martin Peers · Oct 9, 2024 5:00pm PDT
We’re at the point in the Google antitrust battle where the story has stalled. Not much real news is going to happen for a while. We got blaring headlines late on Tuesday night about the government’s latest filing in the search case (the one Google has already lost but awaits penalties for). The headlines emphasized the government’s desire to... We’re at the point in the Google antitrust battle where the story has stalled. Not much real news...
Photo by Leon Neal/Getty.
The Briefing

Roblox’s Kids Cesspool

By Martin Peers · Oct 8, 2024 5:00pm PDT · 1 comment
The term “social media” is beginning to be synonymous with “cesspool for children.” A Wall Street short seller’s report out today about Roblox, an online kids’ gaming service, painted a picture of a site you wouldn’t want your worst enemy to visit, let alone your children. It came the same day as attorneys general from a dozen states sued TikTok... The term “social media” is beginning to be synonymous with “cesspool for children.” A Wall Street...
The Briefing Newsletter
Get smarter about the most important stories in tech, media and finance by following Silicon Valley’s most-read executive newsletter.
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Tim Sweeney, CEO of Epic Games. Photo by Bloomberg via Getty.
The Briefing

Google's Epic Loss

By Martin Peers · Oct 7, 2024 5:00pm PDT · 1 comment
Talk about an epic decision. Epic Games scored a huge victory in court on Monday, when the judge overseeing Epic’s antitrust case against Google essentially shattered the company’s Android app store monopoly. Among other things, the judge ruled that for the next three years, the tech giant can’t require developers to use only Google’s app... Talk about an epic decision. Epic Games scored a huge victory in court on Monday, when the judge...
Photo via Shutterstock
Amazon Learns Tech Isn’t Everything in Retail Stores
By Theo Wayt · Oct 4, 2024 3:30pm PDT
Photo via Shutterstock
The Briefing

Amazon Learns Tech Isn’t Everything in Retail Stores

By Theo Wayt · Oct 4, 2024 3:30pm PDT
It looks like Amazon has finally realized most people go to grocery and convenience stores to browse and shop—not to be wowed by technology. Case in point: Amazon is closing more of its futuristic cashierless convenience shops and launching mini Whole Foods stores that are comparatively low tech. When Amazon opened its first Go store to the... It looks like Amazon has finally realized most people go to grocery and convenience stores to...
Sam Altman. Photo by Bloomberg via Getty.
The Briefing

Why OpenAI Shouldn’t Buy Back Employee Shares

By Martin Peers · Oct 3, 2024 5:00pm PDT · 2 comments
On the public markets, the idea of companies that are burning cash also spending money on stock buybacks is a giant no-no. Yet for some reason, private tech investors are willing to give startups a pass for doing the same thing. Exhibit A is OpenAI, which we reported wants to use some of the $6.6 billion in cash it raised in its recent... On the public markets, the idea of companies that are burning cash also spending money on stock...
Photo by Getty
The Briefing

The Cynic’s Guide to OpenAI’s Megaround

By Cory Weinberg · Oct 2, 2024 5:00pm PDT · 1 comment
Sam Altman should organize a celebration dinner for the men behind the largest venture capital funding round ever. I’d love to overhear SoftBank’s Masayoshi Son give advice to Thrive’s Joshua Kushner on how to avoid giving too much money to charismatic tech founders. Imagine seeing Nvidia’s Jensen Huang and Microsoft’s Satya Nadella fight over... Sam Altman should organize a celebration dinner for the men behind the largest venture capital...
Evan Spiegel, CEO of Snap, in September. Photo via Getty.
The Briefing

Snapchat’s Safety Struggle

By Erin Woo · Oct 1, 2024 5:00pm PDT
Snap likes to cast its Snapchat app as “an antidote to social media.” Unlike its rival social media apps, Snapchat was “designed to be safe” for kids, the company claims. But designing something to be safe and actually making it safe aren’t the same things.How Snap has fallen short on this front became clear from an unredacted version of a... Snap likes to cast its Snapchat app as “an antidote to social media.” Unlike its rival social...
The Briefing Newsletter
Get smarter about the most important stories in tech, media and finance by following Silicon Valley’s most-read executive newsletter.
By providing your email, you agree to The Information’s Privacy Policy
Sam Altman speaking in Turin, Italy last Wednesday. Photo by Getty.
OpenAI’s Endless Fundraising
By Martin Peers · Sep 30, 2024 5:00pm PDT
Sam Altman speaking in Turin, Italy last Wednesday. Photo by Getty.
The Briefing

OpenAI’s Endless Fundraising

By Martin Peers · Sep 30, 2024 5:00pm PDT
If you’re like me, you’re getting political fundraising text messages roughly every 15 minutes these days. But political candidates aren’t the only people raising money aggressively right now. There are also AI startup executives, most obviously the folks at OpenAI. Today we scooped the news that SoftBank is putting $500 million into OpenAI as... If you’re like me, you’re getting political fundraising text messages roughly every 15 minutes...
Mark Zuckerberg wearing prototype AR glasses at Meta Connect on Wednesday. Photo by Bloomberg via Getty.
The Briefing

Meta’s Costly Reality

By Martin Peers · Sep 27, 2024 3:00pm PDT
Mark Zuckerberg has become a watch nerd. In his appearance at Connect on Wednesday, he was flashing a timepiece identified by Redditors as this one costing tens of thousands of dollars, at least the third such ultrapricey watch he has sported lately. It’s all part of a recent style makeover that also includes gold chains and loud shirts. It’s... Mark Zuckerberg has become a watch nerd. In his appearance at Connect on Wednesday, he was...
Mira Murati with Sam Altman last year. Photo by AP
The Briefing

Altman’s Spin Versus Reality

By Martin Peers · Sep 26, 2024 5:00pm PDT · 1 comment
Talk about staying above the fray. Even as the latest rash of senior executive departures from OpenAI sparks a fresh round of questions about the company’s management, CEO Sam Altman was in Turin, Italy, appearing at an event to do what he does best: talk about the future.In an onstage interview, Altman did address the latest departures at... Talk about staying above the fray. Even as the latest rash of senior executive departures from...
Photo by Bloomberg via Getty.
The Briefing

Meta’s AI Edge

By Martin Peers · Sep 25, 2024 5:00pm PDT
Sam Altman may have Elon Musk beat for the ability to pull off impressive technological achievements despite near-constant corporate drama. Wednesday’s news that OpenAI Chief Technology Officer Mira Murati is leaving comes after numerous other high-profile exits in recent months (or in the case of President Greg Brockman, a leave of absence.)... Sam Altman may have Elon Musk beat for the ability to pull off impressive technological...
Photo by Bloomberg via Getty
Private Equity’s Proof of Life
By Martin Peers · Sep 24, 2024 5:00pm PDT
Photo by Bloomberg via Getty
The Briefing

Private Equity’s Proof of Life

By Martin Peers · Sep 24, 2024 5:00pm PDT
Private equity dealmakers are starting to get busy. The latest evidence of that was today’s news that Blackstone and Vista Equity Partners will buy Smartsheet, which sells software that helps workers plan projects, for $8.4 billion. As falling interest rates are likely at least part of the reason for the (slight) deal revival, we should see more... Private equity dealmakers are starting to get busy. The latest evidence of that was today’s news...