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Today’s top stories
Massive venture rounds into fintech companies have ballooned this year, pushing up total dollars invested — in just the first three quarters of 2021 — to nearly double the amount in all of 2020, per new PitchBook data.
Why it matters: The maturing of fintech startups means a growing number of companies are able to raise huge later-stage funding rounds as investors look to lock-in their bets.
Here are two big questions as a key Democratic proposal to slash emissions from power generation flounders: how much its demise would sap climate protections, and what might replace it.
Catch up fast: New financial carrots and sticks for utilities to deploy zero-carbon power — the Clean Electricity Performance Program (CEPP) — look unlikely to stay in Democrats' big social spending and climate bill.
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The CDC recently published data evaluating Americans' rate of coronavirus cases and deaths by vaccine status, providing more data on which vaccines are working best and how much protection they offer relative to being unvaccinated.
What they found: As of August, unvaccinated people had a more than six times higher risk of testing positive for the coronavirus, and were more than 11 times more likely to die from the virus.
Colin Powell, the first Black U.S. secretary of state, died of complications from COVID-19, his family announced Monday. He was 84.
Driving the news: The Powell family said in a statement that he was fully vaccinated. He had undergone treatment for multiple myeloma, a type of blood cancer that can weaken the immune system, a spokesperson confirmed to Axios.
In 2008, a box of 30 anti-inflammatory rectal suppositories that treats arthritis, called Indocin, had a price tag of $198. As of Oct. 1, the price of that same box was 52 times higher, totaling $10,350.
Why it matters: As federal lawmakers continue to waver on drug price reforms, Indocin is another example of how nothing prevents drug companies from hiking prices at will and selling them within a broken supply chain.
Sen. Bill Cassidy (R-La.), a physician, told me during an "Axios on HBO" interview that he favors cognition tests for aging leaders of all three branches of government.
Why it matters: Wisdom comes with age. But science also shows that we lose something. And much of the world is now run by old people — including President Biden, 78 ... Speaker Pelosi, 81 ... Senate Majority Leader Chuck Schumer, 70 ... and Senate Minority Leader Mitch McConnell, 79.
When it comes to Intel's recent manufacturing problems, Intel CEO Pat Gelsinger places the blame squarely on his predecessors — many of whom he notes were not engineers deeply steeped in chip technology, as he is.
Why it matters: Gelsinger has announced a broad plan to reinvigorate Intel by doubling down on manufacturing. However, the strategy depends on the venerable semiconductor giant recovering from recent stumbles.
Marketers are pouring money into figuring out the tastes and habits of Generation Alpha — kids born from 2010 through 2024 — who are unprecedented in the extent they're growing up online.
Why it matters: They're weaned on TikTok, Amazon and in-app purchases. They're learning from their millennial parents to hold brands accountable for causes like social justice and sustainability. And no prior age cohort will be as large in size or marketing power.
American newspapers played a prominent role, from Reconstruction through the 1960s, in promoting lynchings, massacres and other forms of racist hate and violence. That legacy is documented in an ambitious new project, launching today, from 58 student journalists.
Why it matters: Understanding the witting and unwitting roles played by U.S. media is an essential part of the national examination of systemic racism. It also offers lessons for today's news reporters today covering everything from American political movements and the Jan. 6 attacks to human rights abuses in China.
Internet companies are leaning into new services that add a social component to the otherwise isolated experience of staying home in front of a screen.
Why it matters: These options for virtual watch parties, virtual concerts and communal gaming often rely on smart TVs — turning the living room back into a place to socialize with friends, even if they're not actually there.
China's economy grew 4.9% in the third quarter of 2021 compared with a year earlier, the country's National Bureau of Statistics announced Monday.
Why it matters: The gross domestic product growth in the July-September period in the world’s second-largest economy marked the "weakest pace since the third quarter of 2020 and slowing from 7.9% in the second quarter," Reuters notes.
The author of the "Steele Dossier," containing unverified claims about former President Trump told ABC News he stands by his controversial report, according to excerpts from an upcoming documentary released Sunday.
Why it matters: The FBI drew on former U.K. intelligence officer Christopher Steele's dossier as part of its investigation into the Trump campaign's alleged links to Russia's government, which led to former special counsel Robert Mueller's probe.