Hi, welcome to your Weekend!
The tech industry is not a zero-sum game. It can foster many winners, all at once—as the last decade showed. But it’s also noteworthy when one darling of Silicon Valley rises just as another falls.
That’s been happening this winter, with the anointing of OpenAI and the simultaneous humbling of Stripe. As my colleague Kate notes in this week’s Dealmaker column, tech’s one-time golden goose is now paying for mistakes made during the pandemic boom. “Stripe overhired. Didn’t go public in time. Has a massive tax bill to pay. And is raising a down round," Kate writes.
OpenAI, on the other hand, is just getting rolling. Despite their opposite trajectories, the companies do share at least one commonality: they’re both being hotly pursued by Josh Kushner, CEO and founder of Thrive Capital. Kushner’s fingerprints are all over tech these days, as his firm announces bigger funds, chases bigger deals, and sells stakes of itself to famed moguls like Bob Iger and Henry Kravis.
Kushner doesn’t talk much to the press, but others in his orbit sure do. And as Kate and Abe learned while reporting this week’s fascinating cover story on Kushner, there’s a lot of admiration for the VC out there. He’s a young man on the make, and his firm has rapidly vaulted to the highest echelons of tech by being polite, persistent and obscenely well-connected.
Still, these are tumultuous times, and circumstances have a way of dethroning yesterday’s kings. Do Kushner and Co. have what it takes to reach the top of the mountain and stay there? Read on and decide for yourself...
the big read
Josh Kushner’s Budding Empire
Elusive, media shy and hyper ambitious, Josh Kushner has cracked venture capital’s top ranks at a breakneck pace. Now, he’s making major moves in hopes of cementing Thrive Capital’s place in the VC firmament. Abe and Kate report on the long-term aspirations and current challenges of an extremely private scion.
the 1:1
‘This Fight Is Much Bigger Than Yelp Versus Google’: Anti-Monopoly Crusader Luther Lowe Is Enjoying the Moment
Adam Lashinsky sits down with Yelp’s senior vice president for public policy, who’s been a thorn in Google’s side for more than a decade. From Brussels to Washington to Ankara, Turkey, Lowe has earned a reputation for both marshaling specific allegations of abuse by big tech players and suggesting remedies designed to tame them. Finally, his side might be gaining the upper hand.
the AI age
The Voice That Launched a Thousand Deepfakes: How One Viral Song Led to a Music Industry Reckoning
This caper involves Ariana Grande, some open-source Chinese software, a legion of angry fans and a growing army of pop star imitators. Reporter Jessica Lucas explores the weird, wild world of deepfake covers—think Grande singing SZA’s hit, “Kill Bill”—which raise questions of copyrights, artistic consent and the economics of the music industry.
Screentime
The TikTok Creator Bringing Comedy to Venture Capital
Rashad Assir, maker of spot-on parodies of tech-company culture, was recently hired by Redpoint Ventures as an in-house content creator. Assir unlocks his phone to share what’s inspiring him on TikTok, his favorite Spotify playlist and why he mutes his notifications.
Attending: A Comedy Central-style roast for tech
Working in tech can feel like one big inside joke: it’s all Patagonia, polyamory and pills, all the time. Fortunately, the audience for Comedians Roast Techies gets the punchlines. The traveling comedy show invites tech workers in cities like San Francisco, Seattle and Austin to get lampooned onstage, where seemingly nothing is off-limits. The comedians are all ex-techies themselves, which explains some of their company jabs (“You’ve been at Microsoft for 14 years, or exactly one development cycle”) and the precision of some of their more personal insults (“You look like you hatched from a Tim Ferris book”). Either way, the fact that people will pay upwards of $98 to see Facebookers get flayed should tell you about the moment we’re (still) in. Tonight’s show in San Francisco is sold out, but you can catch the next ones in Seattle or Austin. —Arielle
Listening: Debriefing “The Last of Us”
Like the Quarantine Zones’ apocalypse survivors, I’ve also been hungering for something: More insight on what’s actually happening in HBO’s “The Last of Us.” To make it through this grim affair, I’ve taken a page from Ellie’s playbook and found myself a faithful companion: HBO’s official “The Last of Us Podcast.” It features interviews about each episode with showrunners Craig Mazin and Neil Druckmann, the original videogame’s creator. Listening to it reminds me of watching a DVD with the director’s commentary turned on. Most recently, the pair discussed details from Episode 6, including (spoilers!) more back story on the endearing Native American couple who sheltered our heroes, and Ellie’s interest in Sally Ride. As for why protagonist Joel struggles to be a true father figure to Ellie: “That is why he’s been walking around like a zombie for 20 years,” explained Mazin. Consider my hunger sated. —Abe
Reading: A TikTok talent agency under fire
Overnight fame—the kind once associated with radio hits and reality shows—frequently brings some form of exploitation. New York Times reporter Madison Malone Kircher investigates the latest example of the age-old dynamic, this one preying upon TikTok influencers. Kircher delves into the Carter Agency, a talent company that allegedly stole pay from its creator clientele. Interviews with two dozen influencers yielded alarmingly similar stories: Carter Agency managers would negotiate brand deals, often worth thousands, for stars who would never see the money. A number of creators have now banded together—finding each other via group chats and, of course, TikTok—and are pursuing legal action. Yes, the scamming may be old school, but at least 21st century networks make it easier to catch the charlatans. —Annie
Makes You Think
Until next Weekend, thanks for reading.
—Jon
Weekend Editor, The Information
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