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Illustration: Sam Jayne / Axios

Several months ago we first discussed the prospect of anti-trust action against technology giants. Pressure seemed to be coming from the right, in terms of Trump Administration animosity toward Silicon Valley antagonists. It also seemed to be coming from the left, in terms of income inequality and growing recognition that this generation's Masters of the Universe don't work on Wall Street. Some was just under the aegis of "I know it when I see it," in terms of everything from Facebook's relationship to media to Amazon's relationship with consumers.

The tech execs I spoke with mostly shrugged their shoulders, and then one more time for de-emphasis once Steve Bannon left the West Wing. But those sentiments are shifting, and it has nothing to do with mergers or market share.

What changed: Facebook's acknowledgment that Russian agents purchased ads around last year's election is a bit like stealing a car and then accidentally rear-ending a cop. Russia may be the initial bump, but it's liable to spark all sorts of other inquiries into big tech business models and products — with each new hearing or interview increasing D.C. knowledge of how Silicon Valley and its satellites actually work. Oh, and now it looks like Google might have done something similar.

Even if the Russia/social media story fades into oblivion, it could create regulatory ripples in everything from privacy to antitrust.

Bottom line: "This piqued the interest of people who didn't really care about so-called big tech before," says a senior D.C. rep of a major West Coast tech company. "Now they have reason to take out their magnifying glasses."

Go deeper

Surprising pandemic side effect: Soaring trade deficits

Source: Census Bureau and Bureau of Economic Analysis; Chart: Axios Visuals

Inflation and jobs may get all the economic headlines, but meanwhile a big shift is taking place in the underpinnings of the world economy: The U.S. trade deficit is soaring.

What's happening: Americans' spending on imported physical goods has gone through the roof, while exports are growing slowly, making the U.S. the world's consumer of last resort.

Mike Allen, author of AM
2 hours ago - Politics & Policy

Third Way: "Big Lie" could become "Big Coup"

Graphic: Third Way

Third Way, the center-left think tank, is urging fellow Democrats to respond to the Capitol riot with "the size, scope, and seriousness of a presidential campaign," co-founder Matt Bennett tells me.

Driving the news: "For the first time in U.S. history, a party must mount two parallel presidential campaigns: one to win the election, and the other to prevent its theft," Bennett said, calling this "a Paul Revere moment."

Advocates say Biden has let Haitian migrants down

Photo illustration: Aïda Amer/Axios. Photos: Chip Somodevilla/Getty Images, Christian Torres/Anadolu Agency via Getty Images

Continued turmoil in Haiti is causing a growing number of Haitians to try to make it to American shores — and some advocates say the Biden administration isn't supporting this community in its time of crisis.

The big picture: Haitian-American activists in South Florida told Axios Today they feel like President Biden has gone back on campaign promises he made to the community to stand up for them.

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