A handful of powerful, white, male entrepreneurs are tussling over the role — and essentially the need for — diversity, equity and inclusion programs, or DEI, in the workforce.
The big picture: Major employers across the U.S. have embraced DEI programs as part of their efforts to attract and retain talent, but criticsofDEI have become so emboldened that it now stands out when high-profile figures in the corporate world, such as Mark Cuban, defend those initiatives.
Professionals are apparently looking to connect in more ways than one on LinkedIn, Nathan writes.
State of play: The networking platform has turned into "the hottest new dating site," according to Business Insider.
"Any platform with a direct-messaging option is likely to also be used to pursue sex and dating," Temple University sociologist Dustin Kidd tells BI.
"LinkedIn's appeal as a dating site" includes the "additional layer of credibility" that comes with listing professional credentials, contacts and accomplishments, BI reports.
Yes, but: LinkedIn says it's not supposed to be used for dating.
💭 Nathan's thought bubble: The idea of pursuing someone after reviewing their resume is positively tawdry — though it may simply be a more efficient way of what some people have always done without technology.
Eli Lilly is poised to sell medicine directly to consumers — with an emphasis on newly popular weight-loss drugs — in a move toward cutting out the controversial middle players in drug distribution.
Why it matters: Pharmaceutical companies typically aren't in the business of selling their drugs to individuals — but the weight-loss drug boom is sufficiently lucrative to shake up the status quo.
Carvana escaped 2023 with newfound momentum after navigating a crisis that tarnished its status as a high-flying retailer reinventing a stodgy industry.
The big picture: Today, the company's focus is on its bottom line, CEO Ernie Garcia tells Axios. And the business once hailed as the "Amazon of used cars" will soon have to fend off Amazon itself.
A group of conservative media and business executives met with The Messenger founder Jimmy Finkelstein on Wednesday to discuss acquiring a majority stake in his digital news outlet, two sources familiar with the conversation tell Axios.
Why it matters: The proposal — $30 million for a 51% position — could provide The Messenger with a much-needed lifeline, but it would require Finkelstein to give up control.
Why it matters: The fact that the year's best vehicles feature a variety of powertrains — hybrid, gasoline and electric battery — is a reflection of the historic transition underway in the auto industry.
The St. Louis Federal Reserve said on Thursday that Alberto Musalem, an economist with experience in international policy and financial markets, would be its next president.
Why it matters: Musalem was a senior adviser at the New York Fed and previously an economist at the International Monetary Fund, replaces Jim Bullard, the long-time leader of the regional Fed who resigned last year.
Vivek Ramaswamy sold $33 million worth of shares in the biotech company he founded, as he fights to stay competitive in the GOP presidential primary race.
Why it matters: Ramaswamy will use some of the proceeds to make a "significant investment" in his campaign, a spokesperson confirmed to Axios.
Sponsoring a college football bowlgame can be worthwhile if you do your research and hit upon attention-getters like cheeky mascots. Just ask Kellanova — the brand behind Pop-Tarts and Cheez-It.
Why it matters: When in lock-step, communication and marketing teams can increase brand awareness and generate palpable buzz from something as simple as a sponsorship deal.
What they're saying: "We leaned heavily on our partners at Weber Shandwick [for] their expertise in both earning attention and leaning into real-time culture to amplify our activation in-stadium, on television, in social media conversations and beyond to make our brands' games not just another sporting event, but a part of the current cultural zeitgeist," Kellanova chief marketing officer Julie Bowerman told Axios.
Axios convened top communicators at a recent event in NYC to learn what's in store for the profession in 2024.
Here are some words of wisdom to take into the new year...
✈️ United Airlines EVP of communications and advertising Josh Earnest on the importance of rapid response:
"There definitely have been times where information was coming in on social media that helped inform operational decisions," Earnest said.
He added the airline more often sees "weird things on social media" or its public relations team gets calls about incidents, and "having a direct line to the people who are running the operation of the airline is critical to our ability to respond in a timely fashion."
Labor battles have continued into 2024, with employees at Costco's Norfolk warehouse the latest to unionize.
Driving the news: In what appears to be an attempt toappeal to its remaining non-union employees, Costco CEO Craig Jelinek and president Ron Vachris issued an internal note taking responsibility.
What they're saying: "The fact that a majority of Norfolk employees felt that they wanted or needed a union constitutes a failure on our part."
The NCAA has signed a new, eight-year TV deal worth nearly $1 billion to cover 40 of its championships with ESPN, the collegiate organization announced Thursday.
Why it matters: This is the first of multiple, big media deal dominoes to fall in 2024 and represents a hefty increase in value.
Deidrea Miller has spent the past two years as senior vice president, head of communications for Christie's Americas.
Why it matters: During her tenure at Christie's, Miller was tasked with broadening the auction houses' appeal by reaching out to new, younger audiences.
Hospital patients are more likely to fall or acquire infectionsinside of private equity-owned facilities than in peer facilities, according to a study by Harvard Medical School and University of Chicago researchers.
Why it matters: Private equity is coming under more scrutiny as it buys more health care providers, and that could lead to new regulations.
Eric Newcomer, the founder and author of Newcomer, an independent newsletter covering startups and venture capital, generated more than $1 million in top-line revenue in 2023, he told Axios.
Why it matters: Newcomer joins a growing list of journalists who have been able to build up an independent media business through a newsletter platform.
Qualcomm on Thursday announced an updated version of its chip for augmented and virtual reality devices designed to make headsets more detailed and realistic.
Why it matters: Consumer tech companies, including Samsung and HTC, are racing to build new reality-altering products with Qualcomm asApple readies its mixed-reality Vision Pro, which is expected to launch by February.
Laudable goals like achieving "equity" and "diversity" and making people feel "included" have become weaponized terms, and now corporate America is navigating the minefield.
Why it matters: The year ahead will be pivotal for corporate diversity efforts, as attacks against DEI — diversity, equity and inclusion — will likely intensify.
Why it matters: The Biden administration's signature legislation — particularly the CHIPs Act and Bipartisan Infrastructure Law — has spurred a surge in construction spending that's buoyed the economy, as Axios' Neil Irwin reported.
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