Axios

Winter might not be here for electric vehicles just yet, but there's frost on the ground.

Why it matters: After years of hype among investors, demands from regulators and buzz among early adopters, the general public remains apprehensive about an EV future.

The WeightWatchers CEO says the company is healthy despite investor concerns about its stock.

Why it matters: WeightWatchers stock has lost more than half its value since Oprah Winfrey said last month that she was leaving the company's board and donating her remaining shares.

Snapchat is experimenting with a new function called "Infinite Retention Mode" that allows users to save their direct messages (DMs) between friends, executives told Axios.

Why it matters: Snapchat pioneered disappearing chats as a way to help close friends keep conversations intimate. The new changes bring Snapchat closer to a pure-play messaging app like iMessage or WhatsApp.

Coinbase's fresh $1.1 billion convertible bond offering says more about traditional corporate finance than it does crypto.

Why it matters: The U.S.'s largest crypto exchange is drawing more than just bitcoin investors — with its stock surging alongside the world's largest digital asset, the company's gaining traction with a more conservative crowd: bond investors.

Conspiracy theories surrounding Princess Kate skyrocketed across social media following the doctored photo and apology.

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SXSW is overwhelming, whether you're a first-timer or a veteran of the weeklong festival.

Here's what I experienced while on the ground in Austin:

👀 What I saw: Big brand activations from Audible, Porsche, La Croix and Paper Mate — which was a real crowd favorite.

• I also attended SXSW panels on geopolitics and managing global crises before popping over to the Female Quotient's Equality Lounge for views of Lake Austin and conversations about the gender gap.
• Later, I dropped by the Inc. Founder's House for a Topo Chico and talk from fintech founder Suneera Madhani.

🦻🏻What I heard: There was a lot of chatter about the potential TikTok ban and what it could mean for creators, brands and news outlets.

"We can safely say that the role of corporate affairs is arguably more materially important to the success and failure of a company, brand or CEO than any other time in recent memory — maybe ever."

Morgan Stanley is attempting to meet new brand expectations by entangling itself in the world of sports and fashion.

Why it matters: Audiences expect to see culturally relevant marketing campaigns that clearly tie back to the product and highlight the company's overall mission.

Under Armour's shares plummeted over 10% Thursday morning, a day after the company said founder Kevin Plank was returning, and CEO Stephanie Linnartz was leaving, effective April 1.

Why it matters: The company has played a game of "musical chairs" with CEOs in the past few years.

Sen. Josh Hawley (R-Mo.) was one of the first senators to applaud yesterday's House vote on a bill that requires ByteDance to divest TikTok, or else risk the app from being banned.

But he tells Axios that he doesn't have much faith that there will be a similar vote in the Senate, where Majority Leader Chuck Schumer (D-N.Y.) is noncommittal about bringing it to the floor (despite support from President Biden).

President Biden on Thursday is expected to express concerns over Nippon Steel's planned $14.9 billion acquisition of Pittsburgh's U.S. Steel, ahead of next month's White House visit by Japanese Prime Minister Fumio Kishida.

Why it matters: U.S. Steel picked Japan's Nippon over domestic rival Cleveland-Cliffs, because it preferred a national security review by CFIUS to an antitrust review by the Justice Department.

American shoppers increased spending in February, but revised figures show retail sales were much weaker at the start of the year than previously thought, the government said on Thursday.

Why it matters: The new figures may raise concerns about the health of the U.S. consumer that had once looked unstoppable and fueled a stronger-than-expected economy.

Steven Mnuchin is recruiting an investor group to buy TikTok, the former Treasury Secretary said Thursday.

Why it matters: TikTok's future in the U.S. is in peril after the House passed a bipartisan bill that would force China-based ByteDance to sell TikTok or face a ban across the country.

Amazon will hold a 6-day sales event for U.S. customers from March 20-25, the company announced Thursday morning.

Why it matters: The retail giant has been increasing the frequency of its promotional periods as competition for online spending from the likes of Walmart and direct-to-consumer brands has grown.

PublicSq, a publicly-traded sales marketplace that promotes retailers with conservative values, has acquired Credova, a buy now, pay later company that caters to shooting sports and firearms sales.

Why it matters: The all-stock deal will help PublicSq hedge against payment vendors who may not be comfortable servicing certain goods, like guns.

No, you probably can't write off your cat or the full price of your car as business expenses on your taxes.

Why it matters: Those are some tax strategies offered up on TikTok to business owners, and as tax season kicks into high gear, it's a reminder that they shouldn't be taken at face value.

When is BTC not bitcoin? When it's a ticker symbol.

Why it matters: The world of bitcoin ETFs is both highly commoditized and fiercely competitive. One way to stand out from the crowd is to boast the coveted BTC ticker symbol — and it turns out that's what Grayscale has managed to do.

Watching a concert on Apple's Vision Pro and Meta's Quest 3 isn't like the real thing, but it beats a TV experience.

Why it matters: Mixed-reality devices have become associated with gaming and augmented reality experiences, and they're just beginning to explore the entertainment space.

Having never tried a headset before, I visited AmazeVR in Los Angeles to watch a virtual reality concert by heavy metal band Avenged Sevenfold.

• AmazeVR is a virtual reality concert platform that's also worked with T-Pain, Megan Thee Stallion and Zara Larsson.

I watched roughly 10 minutes of a 26-minute concert on Apple's Vision Pro and another 10 minutes on Meta's Quest 3.

The vibe: The concert itself made me feel like I was watching it in a dream. Unlike a traditional concert, there are no bad seats. If I was watching a concert film or livestream I'd be forced to look wherever the camera is pointed.

• In VR, viewers can see every detail of the stage and artist vividly from a 180-degree angle for the same price of entry.
• M. Shadows sang to me directly, and I could watch him or I could focus on Brooks Wackerman on the drums or Johnny Christ on bass guitar with 10x more clarity.
• As promised, the visual effects were stunning.

Winners: With the Vision Pro's spatial audio, I didn't have to wear headphones, which enhanced the experience.

• Overall, though, there weren't many drastic differences between the concerts on each device.

What they're saying: "We don't consider ourselves in competition with the live [concert] experience," AmazeVR's creative director Lance Drake told Axios. "We're in competition with how bad 2D video is."

Yes, but: Theatrical concert films like "Taylor Swift: The Eras Tour" are more popular than ever.

• Swift's film grossed more than $260 million worldwide, making it the top-selling concert film of all time.
• Drake says these new VR experiences might "mirror" a live concert but they are "staged in a completely novel and visually immersive format."

My thought bubble: 26-minute concerts are a good place to start. It remains to be seen whether consumers can handle longer sessions.

• Drake says the company is experimenting and planning longer lengths of VR concerts as they develop their tech and as headsets get lighter and more comfortable for users to wear.

In the meantime, this could be a game-changer for music videos.

Worthy of your time: A weekend with Apple's Vision Pro

Envisioning a day when hundreds of humanoid robots can be summoned and deployed at the touch of a button, Agility Robotics has announced its first fleet management platform.

Why it matters: There's intense competition among humanoid robot manufacturers to get their products into the industrial marketplace, where companies like Amazon and BMW are eager for their help.

After a solid year of artificial intelligence dominating the conversation, folks attending SXSW are starting to focus on the human elements of an AI world.

Why it matters: Communicators remain steadfast in their role as dot connectors at a time when AI threatens a company, brand or leader's ability to capture attention.

South Dakota Gov. Kristi Noem (R) is being accused in a lawsuit of breaching D.C. consumer protection laws over online video posts this week that praised a Texas dentist.

Why it matters: The lawsuit consumer advocacy group Travelers United filed against Noem on Wednesday comes weeks after presumptive 2024 Republican nominee former President Trump hinted that she's among the frontrunners on his vice presidential shortlist.

Former CNN anchor Don Lemon said on Wednesday that Elon Musk canceled his new show on X, formerly Twitter, after he interviewed the multibillionaire last week.

Why it matters: The split comes as X CEO Linda Yaccarino announced the platform is shifting to "video first" and Musk has tried to broker deals with high-profile content creators.