Apple is now paying you to have an iPhone! That’s right. Sign up for the savings account now available through Apple Wallet, administered by Goldman Sachs, and you will get an interest rate of 4.15%, Apple announced today. That’s a very good rate—most other digital-only banks aren’t offering terms quite as generous (as for big banks, forget it—their savings rates are still in the 0.01% ballpark). Even Goldman Sachs, which... Read more ›
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I’m en route to Los Angeles today ahead of The Information’s third annual Creator Economy Summit on Thursday. This is the first time we’re hosting this event in person, and we are so excited to bring together more than 500 registered attendees, including creators, investors and entrepreneurs shaping the creator economy. (We are at full capacity, and only have a few last-minute tickets available here!)For the past several months, the... Read more ›
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OpenAI has told employees it has finalized a tender offer that allowed some staff to cash out their holdings, one person with direct knowledge of the situation said. The move caps a process that began last fall alongside talks to raise billions of dollars from Microsoft. Over the past few months, the San Francisco startup behind artificial intelligence–powered chatbot ChatGPT has negotiated the tender offer in which investors buy employee... Read more ›
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After suffering its first-ever drop in ad sales, Meta Platforms has abandoned its once-brash tone with advertisers in favor of a more flexible approach to winning business. Instead of demanding that ad agencies commit to increases in spending of 20% or more, as they typically did in past years, Meta's salespeople are signaling they’re content with spending staying level with last year, according to two senior ad agency executives. Meta... Read more ›
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Welcome back to The Electric! The U.S. has embarked on an experiment in state-led industrialization, attempting to jump-start the creation of an electric vehicle and battery industry through more than $250 billion in government largesse. This week, we look at potential lessons from the past experiences of Japan and China in doing the same thing.Biden signs the Inflation Reduction Act, reversing decades of policy and putting the U.S. in the... Read more ›
3
I’ve got some bad news. It’s about Bob.” A friend was on the phone, calling Jake Shields with news about their buddy Bob Lee. “Oh, shit. Is he OK?” said Shields, a mixed martial arts fighter who lives near Las Vegas. “No.” The news of Lee’s killing on April 4 spread quickly among the close-knit but far-flung group that called the technology executive a friend. They were shocked. They never... Read more ›
1
Hi, welcome to your Weekend.While I hope everyone carves out some time this weekend to read Abe’s fascinating cover story about the tech hero-turned-villain-turned-hero-again Parker Conrad, there’s one person I know will not be reading it: Conrad himself.As the Rippling CEO admitted to Abe during a lengthy interview in Vermont earlier this month, he hasn’t read any press about himself since 2016. That’s when things hit rock bottom at his... Read more ›
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The first time Joslyn Lacy tried neurofeedback, she was skeptical. A finance administrator for a large cloud software company, Lacy dealt in numbers, not woo-woo. But she’d long struggled with chronic pain and anxiety related to underlying medical conditions. “As an African American, I wasn’t feeling heard by my doctors,” she said. They often just resorted to prescribing her pain medications, but she wanted “more than a Band-Aid.” So when... Read more ›
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Last December, Bilawal Sidhu was living a double life. By day, he was a full-time product manager at Google, working on projects like building virtual reality tools. By night, he was experimenting with a barrage of new artificial intelligence models like Midjourney and Dall-E. He started posting TikToks and YouTube videos showing off the psychedelic, UFO-filled AI images he had created and predicting where AI was headed. Sidhu rode the... Read more ›
0
When Jamie Snedden moved to San Francisco from London in late 2021, it occurred to him that he didn’t actually know how to make friends. In college, an abundance of common areas and extracurricular clubs had made it easy to meet new people. Now, working remotely for a startup, he barely left the house. He considered roving between coffee shops, but identifying potential pals there seemed as random as shooting... Read more ›
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Parker Conrad was touring me around a personal sliver of heaven when I asked him to relive his personal hell. As we traipsed through his sister Louisa’s hilly 100-acre farm at the eastern base of Vermont’s Green Mountains—Louisa’s chickens strutting in the spring sun, her goats poking their heads amiably from their pens—Conrad’s mind cast back to a much darker place. “I thought maybe the world was ending,” he recalled.... Read more ›
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Welcome back!Every time The Information publishes another great org chart, I scan the names listed in the C-suite and see what trends pop out at me. And lately there’s one that’s pretty clear: There are a relatively large number of female general counsels and chief legal officers in the world of tech. I counted 10 females and 22 males among those in our current org chart stable. In tech, women... Read more ›
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The slowdown in enterprise software spending is forcing some software firms to go to extraordinary lengths to win business. Palo Alto Networks, for instance, is giving away cloud security service—literally. The company, which is the biggest stand-alone security software firm measured by market capitalization, is offering its cloud security software for free for up to two years to customers who ditch a competing service to sign up with it, according... Read more ›
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Andy Jassy needs a raise. Amazon's annual disclosure of its top executives' compensation, released today, portrays a CEO who is woefully underpaid given the immensity of the job he has. The company's stock-heavy executive compensation packages are laudable in how they align the interests of executives and shareholders. But shareholders also need top executives to stick around. And seriously, Jassy has good reason to be hunting for a better-paying job.In... Read more ›
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Our latest update to the Creator Economy Database shows signs of life in the industry despite doom-and-gloom fundraising totals. We tallied 15 U.S.-based creator startups that raised money in the first quarter of this year, all of which were early-stage funding rounds. We also added more than two dozen startups as well as tracked the closure or sale of three others. Here’s more of what happened:• Startups that provide services... Read more ›
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Two Twitter alternatives, two Web3-based startups and a social music platform for communal DJing: These are some of the 15 creator startups that bucked a severe downturn in funding to raise money in the first quarter, according to The Information’s newly updated Creator Economy Database. The database now tracks more than 350 private companies both in the U.S. and overseas in the sector, offering everything from software that hosts virtual-shopping... Read more ›
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Tech firms may be known for their big personalities and frequent turnover. But that’s not DoorDash. The restaurant-meal delivery service’s CEO and co-founder, Tony Xu, keeps a low profile and his management team has been remarkably stable. Seven of his nine direct reports have been with him for an average tenure of five years, half as long as DoorDash has existed. So far, the stability has paid off: the company... Read more ›
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We probably all know by now that artificial intelligence, particularly generative AI, is venture capital’s current obsession. What’s interesting, though, is that firms like Spark Capital and Greylock Partners, respectable outfits but generally not considered in the same league as Sequoia Capital or Benchmark, have led the industry’s latest push into the sector. Successful bets could propel them to VC’s upper echelons. Not that Sequoia has been absent from the... Read more ›
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Last month, the U.S. gave TikTok a choice—either its owner, Chinese artificial intelligence company ByteDance, has to sell it, or it will face a federal ban. As we wait to see how ByteDance responds, more than 25 U.S. states have gone ahead and banned the app from state employees’ devices. And in the event that ByteDance won’t sell, Congress is currently workshopping a legislative fix. That is no simple proposition—there... Read more ›
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To gain an edge in the suddenly hot artificial intelligence category, one venture firm is hiring from the startup—OpenAI—that set off the generative AI craze in the first place. Spark Capital has hired Fraser Kelton, the former head of product at OpenAI, as a venture partner, Kelton and Nabeel Hyatt, a Spark general partner, told The Information. Kelton, who started last week after leaving OpenAI in January, will lead investments... Read more ›
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06.04.2026 01:10
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