The Briefing By Martin Peers

The Briefing By Martin Peers

Chelsea Clinton, Daniela Amodei from Anthropic, and former Yahoo CEO Marissa Mayer will speak at The Information's Women in Tech, Media, and Finance Summit in October. Get your WTF tickets here.

Greetings!

Elon Musk appears to be gearing up for a confrontation with Thierry Breton, a European commissioner critical of Musk's compliance with EU regulations. Recently, Musk retweeted Breton's lengthy letter alongside an image from Tropic Thunder featuring Tom Cruise, adding a humorous touch to the tension.

This exchange coincides with Musk’s upcoming interview with Donald Trump on X, which Breton cites as a potential source of “harmful content” affecting civic discourse and public security. The European regulator seems to be warning Musk against broadcasting a political discussion three months before the election—a situation that could provoke strong reactions if reversed in the U.S.

Musk's response indicates escalating tensions, especially as the European Commission has initiated proceedings against X over various issues, with potential fines reaching 6% of the company's total revenue. Given Musk's history with financial obligations, it remains uncertain whether the Commission will collect any penalties.

BuzzFeed's Formula for Success

BuzzFeed is downsizing but becoming profitable, reporting a 24% revenue drop in Q2 to $46.9 million (excluding sold assets) while earning $2.7 million in EBITDA, a turnaround from last year’s $2.2 million loss. CEO Jonah Peretti views this quarter as a “turning point,” noting slight increases in user engagement.

Despite the revenue decline forecasted to continue—projected to shrink 3% to 5% in Q3—profits are expected to rise further, ranging from $6 million to $11 million. BuzzFeed's strategy seems to be focusing on becoming smaller yet more profitable.