Plus: Menendez found guilty | Tuesday, July 16, 2024
| | | | | | | Presented By PhRMA | | | | Axios PM | | By Mike Allen · Jul 16, 2024 | | Good afternoon. Today's newsletter, edited by Sam Baker, is 542 words, a 2-min. read. Thanks to Sheryl Miller for copy editing. | | | | | | 1 big thing: Tech titans back Trump | | |  | | | Illustration: Aïda Amer/Axios | | | | Silicon Valley was once solidly Democratic, with just a handful of Republican outliers. But now its red camp is growing and throwing around its weight, Axios' Scott Rosenberg and Dan Primack write. - A significant chunk of the tech industry's money and power is lining up behind former President Trump.
- Venture capital billionaires Marc Andreessen and Ben Horowitz both plan to donate to Trump's election effort, following Elon Musk's decision to endorse Trump and spend tens of millions of dollars on a super PAC to aid his campaign.
💡 The intrigue: Andreessen Horowitz, the VC firm the pair co-founded in 2009, said late last year that its partners would begin making donations to political candidates they saw as "advancing technology." - A source says the Trump donations are in that vein — motivated by areas like crypto and AI regulation, without regard to other issues like abortion or the Supreme Court.
💻 Between the lines: The industry's giants — Microsoft, Apple, Google and Facebook — try to thrive under presidents from both parties, and their leaders usually try to avoid making headlines during campaign seasons. - The industry's more enthusiastic partisans, though, can complicate those efforts.
- Andreessen sits on the board of Facebook, while Andreessen Horowitz has invested in Microsoft-affiliated OpenAI. And Trump's presidency pushed some liberal-leaning executives to get more vocal, too.
Share this story. |     | | | | | | 2. 📺 Don Jr.: Fox is losing juice | | | | Photo: Lindsay Stayton on behalf of Axios Rupert Murdoch's influence over the conservative media landscape "is not what it used to be," Donald Trump Jr. said today at an Axios event in Milwaukee. - "There was a time where if you wanted to survive in the Republican Party, you had to bend the knee to him or to others," he said. "I don't think that's the case anymore."
🎤 Why it matters: Trump Jr. is a popular and powerful figure within the conservative media ecosystem, especially its ascendant wing of podcasters and social media personalities. - Trump Jr. said he'd been blacklisted by Fox News.
- Fox News said in response to Don Jr.'s comments: "Donald Trump Jr. was on FOX News Channel yesterday with correspondent Aishah Hasnie. Prior to the Axios event, Fox & Friends asked him to appear on the show on Wednesday and he has since accepted that booking. He is and always has been welcome on all FOX News Media platforms."
Go deeper. | | | | | | | | A message from PhRMA | | More new medicines means more generic medicines | | |  | | | | Thanks to intellectual property (IP), medicines face competition from other brands, generics and biosimilars. In fact, 90% of all medicines dispensed at the pharmacy counter are lower cost generics and biosimilars. Find out how. | | | | | | 3. Catch me up | | | | Sen. Bob Menendez exits Manhattan federal court today. Photo: Adam Gray/Getty Images - ⚖️ Sen. Bob Menendez (D-N.J.) was convicted on 16 bribery charges today — the first time a U.S. senator has ever been found guilty of being a foreign agent. He now faces possible expulsion from the Senate as well as decades in prison. Go deeper.
- 🖥️ Ozy Media CEO Carlos Watson was found guilty of misleading investors about his company's strength, in what became one of the fastest media implosions in recent history. Go deeper.
- 🗳️ "People are back to being angry at Biden," a House Democrat told Axios. Skeptics within the Democratic caucus are protesting the DNC's plans to formally nominate Biden ahead of schedule. Go deeper.
- 💹 Nate Silver will serve as an adviser to Polymarket, a prediction market where people can bet on news events. Go deeper.
| | | | | | | | 4. 📸 Parting shot | | | | Photo: Aurelien Morissard/AP Fireworks illuminated the Eiffel Tower on Sunday during Bastille Day celebrations. | | | | | | | | A message from PhRMA | | More new medicines means more generic medicines | | | | | | | | Thanks to intellectual property (IP), medicines face competition from other brands, generics and biosimilars. In fact, 90% of all medicines dispensed at the pharmacy counter are lower cost generics and biosimilars. Find out how. | | |  | Your essential communications — to staff, clients and other stakeholders — can have the same style. Axios HQ, a powerful platform, will help you do it. | | | |
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