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| Presented By Facebook |
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| Axios AM |
| By Mike Allen ·May 03, 2021 |
| 🖋️ Good Monday morning. It's World Press Freedom Day. - Smart Brevity™ count: 846 words ... 3 minutes. Edited by Zachary Basu.
🕹️ Axios Gaming, covering the business and culture of video games, launches today. Sign up here. |
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| 1 big thing: Pandemic stunts first jobs |
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| Illustration: Aïda Amer/Axios |
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| American jobs are starting to come back, but youth unemployment is still high and many young people are postponing college, Axios' Erica Pandey writes. - Why it matters: Young people across the country are falling behind because of the pandemic, and they will feel the consequences of these months of pain long after the pandemic is over.
Young workers disproportionately lost their jobs as industries in which they're overrepresented, such as hospitality and retail, were hit hard during the pandemic. - Many young people who aren't already in the workforce are delaying education because they don't want to spend the money on remote school, or because their families aren't able to afford it. And many others have graduated but can't find their first jobs.
Keep reading. |
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| 2. Buffett warns of "casino" effect |
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| Berkshire Hathaway chairman and CEO Warren Buffett and vice chairman Charlie Munger speak at Saturday's annual meeting in L.A. Screengrab: Yahoo Finance via Reuters |
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| Warren Buffett warned this weekend that trading app Robinhood has "become a very significant part of the casino aspect, the casino group, that has joined into the stock market in the last year," CNBC reports. - "American corporations have turned out to be a wonderful place for people to put their money and save, but they also make terrific gambling chips," said the 90-year-old "Oracle of Omaha."
🎃 🐭 "Pumpkins and mice" ... "The gambling impulse is very strong in people worldwide," Buffett added, according to Bloomberg. "And it creates its own reality for a while — and nobody tells you when the clock's going to strike 12 and it all turns to pumpkins and mice." |
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| 3. The shot resisters |
 Data: The Harris Poll. Chart. Will Chase/Axios About 56% of U.S. adults have received at least one shot of COVID vaccine, suggesting that we're getting very close to the end of the "vaccine eager" population, Axios Vitals author Caitlin Owens writes. 🗞️ How it's playing ... Today's N.Y. Times lead story: "Reaching 'Herd Immunity' Is Unlikely in the U.S., Experts Now Believe." |
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| A message from Facebook |
| The internet has changed a lot since 1996 - internet regulations should too |
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| It's been 25 years since comprehensive internet regulations passed. See why we support updated regulations on key issues, including: - Protecting people's privacy
- Enabling safe and easy data portability between platforms
- Preventing election interference
- Reforming Section 230
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| 4. Suspected smuggler capsizes off San Diego |
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| Debris is littered yesterday along the shoreline off Cabrillo Monument in San Diego. Photo: Sandy Huffaker/Getty Images |
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| A packed boat being used in a suspected human smuggling operation broke apart in powerful surf off Point Loma, along the rocky San Diego coast, killing three people and hospitalizing 27 others, AP reports. - Border Patrol agents went to hospitals to interview survivors.
The context: "Human and drug smugglers increasingly turned to the Pacific Ocean in recent years as the Trump administration tightened border infrastructure on land," The San Diego Union-Tribune reported. |
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| 5. Biden formula for dominating Dems |
Data: Gallup Presidential Job Approval. Graphic: Bruce Mehlman Bruce Mehlman of Mehlman Castagnetti Rosen & Thomas is out with one of his famous slide decks, including this graphic of President Biden's sky-high popularity with Democrats. - "He's winning over progressives with policy and moderates with language and style," Bruce tells me.
See the full deck. |
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| 6. Trial will decide App Store future |
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| Illustration: Sarah Grillo/Axios |
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| A federal court in Oakland today will begin hearing Epic Games' antitrust suit against Apple — a case that could radically reshape the way iPhone apps and services are sold, Axios' Ina Fried writes. - Why it matters: Fortnite maker Epic Games is asking the court to invalidate the entire business model behind the iOS ecosystem, seeking to bar Apple from requiring developers to use its in-app purchases for digital goods and services.
What to watch: The star-studded trial is expected to feature live testimony from Apple CEO Tim Cook, Epic CEO Tim Sweeney, and top Apple executives Phil Schiller and Craig Federighi. - In order to win, Epic has to convince the judge that Apple has a monopoly with its App Store.
- Apple argues that the relevant market isn't iOS, but rather all the different options players have for games, of which it is just one player.
Keep reading. |
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| 7. Electric cars need to be cheaper |
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| Illustration: Rae Cook/Axios |
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| Most drivers of electric cars are wealthy, and most electric vehicles are luxury models, Amy Harder writes for Axios in her monthly "Harder Line" column. - Why it matters: To effectively combat climate change, the opposite needs to happen. Electric cars need to become affordable and broadly appealing, so the masses can and want to buy them.
Of 11 battery electric vehicles introduced in the U.S. from 2018 to 2020, eight are luxury vehicles. - The average starting price of an electric car has increased over the past eight years, despite battery costs plummeting. The average price in 2012 was about $39,000. Last year, it was $52,000.
The Biden administration is proposing to invest $174 billion into electric vehicles and related charging equipment, including giving consumers point-of-sale rebates to buy American-made electric vehicles. - This is key to attracting lower-income buyers. Although the lifetime cost of owning an electric car can be lower than its gasoline counterpart, the sticker price is higher.
Keep reading. - Amy Harder, an Axios alumnus, is vice president of publishing at Breakthrough Energy, a network of investment vehicles, philanthropic programs and policy advocacy.
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| 8. Dubai is the new Casablanca |
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| Dubai Marina at sunset last month. Photo: Giuseppe Cacace/AFP via Getty Images |
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| Dubai, in the United Arab Emirates, has no quarantine and few entry restrictions, making it a magnet for executives conducting international business in person, The Wall Street Journal reports (subscription). - Why it matters: "[N]ormal is the big attraction. ... Americans generally aren't allowed into the European Union ... New arrivals in the U.K. must quarantine for 10 days. Travelers from most of Europe, China, South Africa and Brazil are banned from the U.S. Business travel ... to China, most of east Asia and Australia remains near-impossible."
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| 9. Furious fans storm pitch |
| Protesters storm the pitch at Old Trafford stadium in Manchester. Photo Oli Scarff/AFP via Getty Images Manchester United's Premier League soccer game against Liverpool was postponed after 200 hooligans broke into Old Trafford stadium to protest owners' decision to join the failed European Super League. - "It is the first time a Premier League match has been postponed because of fan protests," per BBC.
Hooligans try to force their way inside the stadium. Photo Oli Scarff/AFP via Getty Images Clubs that planned the Super League have been in damage control, offering apologies and statements of regret, while fans long frustrated with billionaire owners call for wholesale changes. Go deeper. |
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| 10. After 1,950 years, a makeover |
Rendering via Italy Ministry of Culture By 2023, Rome's ancient Colosseum will once again have a floor with a gladiator's view, after a construction project costing 18.5 million euros ($22 million), Italy's Ministry of Culture said. - The stage — original to the first-century amphitheater — existed until the 1800s, when it was removed for archaeological digs. Go deeper.
Visitors begin tour last month. Photo: Domenico Stinellis/AP 🎥 Watch a video. |
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| A message from Facebook |
| Why Facebook supports updated internet regulations |
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| 2021 is the 25th anniversary of the Telecommunications Act of 1996, the last major update to internet regulation. It's time for an update to set clear rules for addressing today's toughest challenges. See how we're taking action on key issues and why we support updated internet regulations. |
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| 📬 Please invite your friends, family, colleagues to sign up here for Axios AM and Axios PM. |
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