Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Aïda Amer/Axios

The Biden administration isn't talking a big game on tech antitrust. But it's beginning to construct a pretty big stick.

Why it matters: This could slow down a very active tech merger market, and possibly scuttle existing deals.

Driving the news: Lina Khan, well-known in antitrust circles for her ideas about stopping platforms like Amazon from competing directly with sellers, is being vetted to be nominated as an FTC commissioner.

  • Axios' Margaret Harding McGill and Ashley Gold write: "Khan represents a newer school of antitrust thought, where companies' size, market dominance and treatment of competitors is considered anticompetitive behavior that regulators need to reel in — rather than judging monopoly power primarily by harm to consumers."
  • Consideration of Khan follows the recent appointment of Tim Wu as special assistant to the president for technology and competition policy. He's credited with coining the term "net neutrality" and wrote an entire book about the dangers of Big Tech.
  • And, yesterday, the Senate held a confirmation hearing for Vanita Gupta to oversee the Justice Department's antitrust and civil rights divisions. She's not quite as oppositional to Big Tech as Khan and Wu, but she has been critical of Facebook.

Whiplash: All of this must sting Silicon Valley execs who had luxuriated in red carpet treatment from the Obama-Biden White House.

Unknowns: President Biden hasn't tipped his hand on who he wants to directly lead antitrust, reporting to Gupta. Same goes for the FTC chair — some progressives are hoping Khan gets that role, but it seems unlikely.

State of play: During the Trump administration, tech companies mostly ignored the antitrust rhetoric and just kept buying. There were some notable failures — such as DraftKings/FanDuel and Visa/Plaid — but they didn't scare anyone off.

  • The one to watch right now is Facebook's planned $1 billion deal for Kustomer, which reportedly is facing FTC scrutiny.

The bottom line: The winds of change are blowing, and it could soon get gusty in Silicon Valley.

Go deeper

Updated 2 hours ago - World

In photos: Dozens dead as Israel and Hamas intensify aerial bombardments

People gather at the site of a collapsed building in the aftermath of Israeli air strikes on Gaza City on May 11. Photo: Mahmud Hams / AFP) (Photo by MAHMUD HAMS/AFP via Getty Images

At least 35 Palestinians and five Israelis have been killed as fighting between Israel's military and Hamas entered a third day, per Reuters.

The big picture: The worst aerial exchanges of fire between Israel and Hamas since 2014 come after escalating violence in Jerusalem that injured hundreds of Palestinians and several Israeli police officers during protests over the planned evictions of Palestinian families from their homes.

Scoop: Stephanie Murphy announcing challenge to Marco Rubio

Rep. Stephanie Murphy. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

Democratic Rep. Stephanie Murphy is planning to announce a campaign for the U.S. Senate in Florida against Republican Sen. Marco Rubio in early June, people familiar with the matter tell Axios.

Why it matters: Murphy is a proven fundraiser. Jumping in now would give her an early start to build her case for the Democratic nomination and potentially force Rubio and allied GOP groups to spend heavily to retain a seat in a state that’s trending Republican.

4 hours ago - Politics & Policy

Inside the GOP's infrastructure strategy

Sen. Roger Wicker. Photo: Stefani Reynolds/Bloomberg via Getty Images

Top Republican senators are hoping the White House will make some sort of counteroffer to their infrastructure proposal when they meet with President Biden on Thursday, lawmakers and their aides tell Axios.

Why it matters: This is a sign of how serious the negotiations are, they say. In advance of the meeting, some of the senators are already publicly signaling the areas in which they have flexibility.