The context: Mr. Tosi was brought in from Blackstone to help professionalize one of Silicon Valley’s biggest unicorn darlings, much as Ruth Porat joined Alphabet from Morgan Stanley. That was more than likely to foster a clash between Silicon Valley idealism and Wall Street pragmatism.

More from Cory Weinberg of The Information:

Mr. Tosi, who moved with his wife and two young children to the Bay Area for the Airbnb job, has tried to fit in, swapping Wall Street suits for jeans and vests. But his arrival also was a shock to Airbnb’s culture, with its emphasis on an idealistic brand. Mr. Tosi sent marching orders across the company in 2016 that it had to get profitable. Before Airbnb could go public, it would have to have a better handle on predicting its earnings. “I believe we have built this path but can do more,” he wrote to employees. Mr. Tosi initiated cost-cutting efforts, including cuts to customer service and food staff, that longtime Airbnb employees saw as hurting the culture. But Airbnb’s cost per customer service “ticket” fell by 30% to 40% between 2016 and mid-2017 last year, an Airbnb official said, thanks largely to Mr. Tosi.

Why it matters: Airbnb is expected to pursue an I.P.O. as soon as next year. Which vision for the company will win out?

— Michael J. de la Merced

Was there fraud at KPMG?

The charges against five former employees of KPMG and a former government accountant show the lengths an accounting firm will go to get a good report from the Public Company Accounting Oversight Board.

The indictment is a bit odd, though, because the defendants are accused of defrauding both the S.E.C. and the accounting board. They used confidential information to help deal with potential problems in KPMG’s audits. But did getting a sneak peek at how they would be evaluated constitute theft, or just a form of cheating?

Fraud is a type of larceny, and normally the perpetrator obtains something from the victim, who suffers a loss. But in this case, the scheme was to help KPMG clean up its act to get a better grade in pending reviews.

In the world of white-collar crime, most fraud prosecutions involve at least some form of tangible gain to the defendants, and not a better report card. Courts have also required prosecutors to show there was at least some harm to the victim from the misuse of their property.

One way around this issue would be to charge a breach of the honest services statute, but that’s not in the indictment. Nor did the Justice Department charged them under a law prohibiting the theft of government records. The S.E.C. did not accuse the accountants of securities fraud, only that they engaged in unethical or improper professional conduct.