Business

The future of malls could look more like towns

Illustration of an escalator crashing through the rough of a mall and extending into the clouds
Illustration: Rebecca Zisser/Axios

COLUMBUS, Ohio — In a surprising twist on the manufactured downtowns that have spread across suburbia, a billionaire developer in this central Ohio city — looking to survive amid a retail apocalypse — is doubling down on the much-derided mall.

Why it matters: Billionaire Turkish developer Yaromir Steiner plans on expanding his mall into a bona-fide town at a time when thousands are downsizing. Columbus has long been known as a test market, as its population is a near-perfect microcosm of the country. If a new model for malls as towns works in Columbus, it'll work across America, experts say.

Zuckerberg plays defense on CNN to cool Facebook criticism

Mark Zuckerberg, eyes cast downward
Facebook CEO Mark Zuckerberg. Photo: Christophe Morin/IP3/Getty Images

Mark Zuckerberg went on CNN Tuesday to defend Facebook against allegations that he and chief operating officer Sheryl Sandberg bungled a cascade of scandals over the past year.

The bottom line: Zuckerberg stood by Sandberg and maintained his position that he won’t step down as the CEO of Facebook, less than a week after a major New York Times investigation painted an unflattering picture of the pair.

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