Axios C-Suite: What Jim learned for the week of May 9
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Photo illustration: Lindsey Bailey/Axios. Photo: Hulton Archive/Getty
👀 Crazy AI stat: Greg Ip of The Wall Street Journal calculates that the AI economy grew at an annualized rate of 31% during Q1, while the non-AI economy added just 0.1%.
- The reason: Basic investment in housing, offices and transportation fell while "investment soared 43% in tech equipment, 23% in software and 22% in data-center buildings."
- Why this matters to YOU: AI is the economy, both in terms of propping up overall growth and consumer spending (wealthy people getting wealthier off AI and spending on wealthy-people things).
💪 Trump's power increases: Yes, his poll numbers suck. But make no mistake: His ability to order and execute the defeat of conservative Indiana Republicans who refused to do his redistricting bidding captures why almost no elected Republican crosses him.
- After Indiana, elected GOPers will fear him (and side with him) — even if they get walloped in November.
🚨 GOP surge: Republicans' chances of keeping the House are substantially higher this morning than a week ago, after Virginia's Supreme Court struck down its voter-approved +4 map for Dems.
- The decision comes after Florida approved its own +4 map for Republicans. Other Southern states are scrambling to do the same after SCOTUS softened part of the Voting Rights Act.
- Toss in the GOP's massive money edge and this now looks like a coin flip.
- 🤷♂️ Steve Bannon and several others told us yesterday that they now think Republicans keep the House, but lose the Senate.
😬 Dems '27 concern: Hakeem Jeffries will easily win the race to become Speaker if Dems take back the House — but he's seen as quite indecisive, even weak, by many members.
- Liberals want their own Trump retribution. Jeffries is no Nancy Pelosi.
💰 Debt talk: A good way for you to frame the national debt issue: the U.S. roughly brings in $5T per year and spends $7T.
- That's like a normal person making $50K and spending $70K every single year — and assuming they won't go broke.
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