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| Presented By Facebook |
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| Axios AM |
| By Mike Allen ·Oct 25, 2021 |
| Happy Monday. Smart Brevity™ count: 1,170 words ... 4½ minutes. Edited by Zachary Basu. |
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| 1 big thing: Pay jackpot |
 Data: NABE Business Conditions Survey. Chart: Thomas Oide/Axios America's business leaders expect to keep shelling out higher wages to employees, Axios business editor Kate Marino writes. - A quarterly survey released today by the National Association of Business Economists finds that 58% of respondents increased pay at their firms during the third quarter — and nearly the same share expects to do so again in the coming months.
State of play: Average weekly earnings are up 4.5% over the last year, according to government data. - Within that, the sectors most in need of more workers have seen outsized gains: Construction pay has jumped 7.1% and leisure and hospitality surged 11.2%.
- Starting in May, job openings exceeded the number of job-hunters — and wages are bound to continue their rise as employers compete even harder for labor.
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| 2. Facebook's pivotal week |
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| Illustration: Aïda Amer/Axios |
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| Facebook this week faces a trifecta of tumult: "The Facebook Papers," a new series of document revelations by a consortium of two dozen news organizations, starting today ... a critical earnings report today ... and a reported name change, Axios' Scott Rosenberg and Sara Fischer report. - Why it matters: All this is unfolding as Mark Zuckerberg tries to transform Facebook from a social network into the prime mover behind a new "metaverse" of VR- and AR-driven remote work and play.
What's happening: Critical stories based on internal reports leaked by whistleblower Frances Haugen continue to surface in waves following The Wall Street Journal "Facebook Files" series that kicked it all off. - Friday night, the gusher was about Facebook's role in the Jan. 6 riot.
- Over the weekend, it was India: AP, The New York Times, The Wall Street Journal and The Washington Post each offered in-depth reports on Facebook researchers' and employees' concerns that their platform promotes extremism in the company's largest market.
Facebook hosts a virtual developer conference, Connect, on Thursday, with a keynote by Zuckerberg that's expected to go deeper into the company's metaverse-building project. |
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| 3. 🎬 "Axios on HBO" in the Bahamas |
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| Photo: "Axios on HBO" |
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| On last night's "Axios on HBO," Sam Bankman-Fried, founder of the Bahamas-based crypto exchange FTX, told Dan Primack to expect "more and more crypto flight from the states" if U.S. regulators don't wake up. - Forbes this month dubbed Bankman-Fried "The World's Richest 29-Year-Old."
- Bankman-Fried said the global daily crypto trading numbers "surprise even people who know a fair bit about it." Watch a clip.
₿ Sen. Rand Paul (R-Ky.), who took Bitcoin for his presidential campaign back in 2015, told me he can see cryptocurrency replacing the dollar as "the reserve currency of the world." Watch the clip. 🗳️ Matt Schlapp, chair of the American Conservative Union, and Mercedes Schlapp, veteran of two White Houses, told Margaret Talev they recently talked with Donald Trump. Matt sees "a greater than 50% chance that he runs." Watch a clip. 🚀 NASA Administrator Bill Nelson, former astronaut and U.S. senator from Florida, told Miriam Kramer that if he were offered a chance to blast into space on a private rocket: "Of course I would want to ... But it's time for the new generation." Watch the clip. |
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| A message from Facebook |
| Why Facebook supports updated internet regulations |
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| Jack is one of 40,000 people working on safety and security issues at Facebook. Hear more from Jack on why Facebook supports updating regulations on the internet's most pressing challenges, including reforming Section 230 to set clear guidelines for all large tech companies. |
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| 4. California: Fire to flood |
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| Rocks and vegetation cover Highway 70 following a landslide yesterday in the Dixie Fire zone in Plumas County, Calif. Photo: Noah Berger/AP |
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| Northern California was slammed by a combination of connected extreme weather events — a "bomb cyclone" and "atmospheric river," Axios' Andrew Freedman reports. - Translation: An atmospheric river, packing large amounts of moisture, can cause whiplash from drought to flood. A bomb cyclone is a storm that intensifies at a rapid rate, and Sunday's set records.
Sacramento just set a record for longest dry streak — then yesterday got one of its wettest-ever days. A child runs through floodwater on Robin Road in Mill Valley, Calif., yesterday. Photo: Ethan Swope/AP See more photos. |
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| 5. Boosters still a muddle |
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| Illustration: Annelise Capossela/Axios |
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| Here's what happened when top health officials went on the media circuit to offer clearer guidance on COVID boosters, Axios' Marisa Fernandez notes: - Dr. Anthony Fauci and Surgeon General Vivek Murphy on Friday said people should stick with the same brand of vaccine they got the first time, if it's available as their booster, Reuters reports.
- On Sunday shows, both Fauci and CDC Director Rochelle Walensky said it's safe to mix and match brands, depending on the patient.
Keep reading. |
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| 6. Biden's real deadline |
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| Screengrab: CNN's "Inside Politics Sunday" |
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| President Biden has to catch a plane: He's hoping to wrap up a legacy-defining deal before he leaves Thursday for six days in Europe. - Biden will visit Pope Francis at the Vatican ... attend a G20 economic summit in Rome ... then the U.N. Climate Change Conference (COP26) in Scotland.
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| 7. "It's his town now": New York's next mayor |
Cover: Mark Peterson for New York Magazine Coasting to a general-election victory a week from Tuesday, Eric Adams has already begun his "post-technocrat, post-progressive" mayoralty, David Freedlander writes for New York Magazine: In the New York Times, center-right columnist Bret Stephens has all but anointed Adams the next Democratic presidential nominee ['Eric Adams Is Going to Save New York']. ... Joe Scarborough [marveled] at how Adams took a tough line on crime to win. "I love this [effing] guy," said Bill Maher. "This is what the Democratic Party needs." Adams, 61, who retired as an NYPD captain, "is a favorite of Wall Street, of real estate, of the Trumpified elements that remain in New York City, as well as many of the city's most powerful labor unions and the Black and brown working-class base of the Democratic Party." - You see the excitement "in the hotel workers' union halls and along the parade route for essential workers, where Adams has been hugged, kissed, and fussed over, a kid from the other side of the tracks whose mother was a cook at an early-education center."
- "And you see it at the fundraisers in the Hamptons, on Martha's Vineyard, and at the new Noho private club Zero Bond, where Adams has become a regular."
Keep reading. |
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| 8. Hollywood's new push for digital guns |
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| An image of the late cinematographer Halyna Hutchins is projected during a candlelight vigil in Burbank last night. Photo: Chris Pizzello/AP |
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| The New Mexico tragedy is driving a Hollywood push to ban real guns on sets, with muzzle flashes added in post-production, AP reports. - Bill Dill — a cinematographer who taught Halyna Hutchins, 42, the rising star who was killed — expressed disgust over the "archaic practice of using real guns ... when we have readily available and inexpensive computer graphics. ... There's no excuse for using live weapons."
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| 9. 😱 Two classic corrections |
| On a front-page story in today's Washington Post, "Biden's critics hurl increasingly vulgar taunts": - Correction: A previous version of this article incorrectly said a crowd broke into a "Let's go Brandon" chant during a Donald Trump Jr. speech in Georgia. The crowd broke into a "F--- Joe Biden!" chant at that speech in September. The error, which was inserted by an editor, has been corrected.
On a CNN story Friday, "Keep your brain sharp by finding your sleep 'sweet spot,' study says": - Correction: We got the story of "Goldilocks and the Three Bears" wrong. It was Goldilocks who found Baby Bear's bed to be "just right."
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| 10. 📷 Parting shot: Two masters |
| Photo: Taylor Hill/Getty Images Robert Caro, 85 — author of "Master of the Senate" and other epic LBJ biographies — and Bob Woodward, 78, got playful yesterday during a symposium to mark the opening of "Turn Every Page," a Caro archive at the New-York Historical Society. More on the exhibit. |
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| A message from Facebook |
| Facebook's industry-leading investments are stopping bad actors |
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| We've invested $13 billion in teams and technology over the last 5 years to enhance safety. It's working: In just the past few months, we took down 1.7 billion fake accounts to stop bad actors from doing harm. But there's more to do. Learn more about how we're working to help you connect safely. |
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