Jens Meyer / AP

An interesting perspective on the employment questions raised by automation surfaced at a Senate hearing this morning thanks to retired Col. Michael Cartney, who leads the Lake Area Technical Institute in South Dakota:

"So there's been concerns that technology's going to allow us to do more with less. So my response is always: you never do more with less, you do more with something different. And that's what technology's doing. But it's not reducing the number of workers we need, it's changing the types of workers that we need."

Why it piques our interest: We hear all the time that automation isn't going to rob Americans of their jobs, just change them. But Cartney isn't some think-tank type — he's involved in training Americans for new jobs.

Go deeper

Mergers and acquisitions make a comeback

Illustration: Sarah Grillo/Axios

A slew of high-profile headlines led by Microsoft's expected acquisition of social media video app TikTok helped bring the Nasdaq to another record high on Monday.

Why it matters: The mergers-and-acquisitions market looks like it's bouncing back, joining the revived credit and equity markets as well as the market for new public companies through IPOs and special purpose acquisition companies (SPACs).

U.S. Chamber of Commerce warns of racial inequality for small businesses

Illustration: Aïda Amer/Axios

Attitudes and beliefs about racial inequality are changing quickly as protests and media attention have helped highlight the gaps in opportunity between white- and minority-owned businesses in the United States.

Driving the news: A new survey from the U.S. Chamber of Commerce and MetLife provided early to Axios shows a 17-point increase in the number of small business owners who say minority-owned small businesses face more challenges than non-minority-owned ones.

BP's in the red, slashing its dividend and vowing a greener future

Photo: Ben Stansall/AFP via Getty Images

BP posted a $6.7 billion second-quarter loss and cut its dividend in half Tuesday while unveiling accelerated steps to transition its portfolio toward low-carbon sources.

Why it matters: The announcement adds new targets and details to its February vow to become a "net-zero" emissions company by mid-century.