Axios PM: States beg for billions — Biden promises task force on separated kids — 🐈 National Cat Day

1 big thing: States beg for Warp Speed billions | Thursday, October 29, 2020

Open in app View in browser   Presented By Morgan Stanley   Axios PM By Mike Allen ·Oct 29, 2020 Good afternoon: Today's PM — edited by Justin Green — is 463 words, a 2-minute read. Situational awareness: 💸 Tech earnings so far today: Alphabet revenue up 14% year-over-year. Go deeper. Facebook revenue up 22%, with jumps in daily and monthly active users. Twitter ad revenue up 15%, but user growth fell. Amazon sales up 37%.     1 big thing: States beg for Warp Speed billions A COVID-19 drive-thru testing center yesterday at Hard Rock Stadium in Miami Gardens. Photo: David Santiago/Miami Herald via AP   Operation Warp Speed has an Achilles' heel: States need billions to distribute vaccines — and many say they don't have the cash. Why it matters: The first emergency use authorizations could come as soon as next month, but vaccines require funding for workers, shipping and handling, and for reserving spaces for vaccination sites. Warp Speed is the $10 billion initiative to accelerate the COVID-19 vaccine timeline. Early projections said it would take years to develop and distribute a vaccine, but it increasingly looks like one will be approved for use this year. The big picture: CDC director Robert Redfield has estimated that price tag at $6 billion. States have thus far gotten $200 million, with another $140 million on the way before the New Year, reports WashPost. "It's kind of like setting up tent poles without having the tent," Maine CDC director Nirav Shah told reporters. Between the lines: The CDC is asking states to identify sites that can handle a vaccine that needs to be stored at -94°F. That matches up with the specs for Pfizer's vaccine candidate. The company laid out a timeline earlier this month that said it could request an emergency use authorization by late February. How it works: Pfizer has a facility in Michigan where vaccine vials will be packed into dry ice pods, NPR reports. These "pods will be loaded into boxes that can keep these ultra-cold temperatures for up to 10 days. And they'll be moved around the country in cargo planes and trucks by carriers like UPS and FedEx." The bottom line: "As far as trying to reach all populations with an effective vaccine, that's going to be a real challenge," said Mississippi's state health director Thomas Dobbs.     2. Chart du jour Data: ESPN/FiveThirtyEight; Chart: Axios Visuals Nine team owners have contributed to the Trump campaign or Trump super PACs, Axios sports editor Kendall Baker reports. See the list.     A message from Morgan Stanley 3 themes shaping healthcare at an inflection point     As the world grapples with COVID-19, companies race to develop vaccines and the U.S. presidential election hangs in the balance, healthcare is experiencing one of its highest-profile moments in recent history. Here's how three key topics could shape the future of the industry. Learn more.     3. Catch up quick Screenshot: CNN Joe Biden pledged to form a task force dedicated to finding the parents of 545 children separated from their families at the southern border. Go deeper. The U.S. economy grew at a 33.1% annualized pace in the third quarter, but it remains 3.5% smaller than it was at the end of 2019. Go deeper. The parent company to Business Insider closed an all-cash deal to buy a majority stake in media startup Morning Brew, with a valuation of around $75 million. Go deeper. Apollo Global Management CEO Leon Black said he made a "terrible mistake" by employing Jeffrey Epstein Go deeper. VMI will remove a statue of Stonewall Jackson amid allegations of an enduring racist culture, per WashPost. 🎧 Axios Re:Cap digs into the state of global vaccine development. Listen here.     4. 1 🐈 thing Daniel Schweitzer and spouse Jeff Patterson care for their five foster kittens and cat in San Francisco, Calif. Photo: Lea Suzuki/The San Francisco Chronicle via Getty Images   It's National Cat Day, and 34% of pet owners are spending more on their furry friends than before COVID-19 hit, USA Today reports. "[S]ome 46% of all Americans are considering getting a pet. And among Americans who have been laid off or furloughed during the pandemic, it's 69%."     A message from Morgan Stanley 3 themes shaping healthcare at an inflection point     As the world grapples with COVID-19, companies race to develop vaccines and the U.S. presidential election hangs in the balance, healthcare is experiencing one of its highest-profile moments in recent history. Here's how three key topics could shape the future of the industry. Learn more.     Axios thanks our partners for supporting our newsletters. Sponsorship has no influence on editorial content. Axios, 3100 Clarendon B‌lvd, Suite 1300, Arlington VA 22201   You received this email because you signed up for newsletters from Axios. Change your preferences or unsubscribe here.   Was this email forwarded to you? Sign up now to get Axios in your inbox.   Follow Axios on social media: