Axios

Nike's business is more of an oof than a swoosh at the moment.

Why it matters: Investors have been abandoning ship as Nike's strategies — both in innovation and distribution — have struggled to win budget-conscious consumers or beat back growing competition.

The Securities and Exchange Commission's anticipated complaint against Consensys, the maker of the MetaMask crypto wallet, landed with a thud this afternoon.

Why it matters: The suit labels an even wider swath of crypto tools as securities, with the SEC's latest enforcement action taking aim at services that enable folks to swap coins or stake them.

Roughly 51.3 million people tuned into the first general election debate between former President Donald Trump and President Joe Biden Thursday night, according to funal ratings from Nielsen, marking a significant decline in television viewership compared to the first general election debates of the last two presidential races.

Why it matters: Biden's train wreck performance coupled with Trump's highly-anticipated return to the debate stage drew a sizable audience in an era when the value of political debates had been in question, but very few young people watched.

Rivian alum Nick Mulholland has been named chief communications and marketing officer for Cruise.

Why it matters: Mulholland joins along with new CEO Marc Whitten and represents a changing of the guard for the autonomous vehicle company owned by General Motors.

Details: He will report to chief administrative officer Craig Glidden and will oversee internal communications, external communications and all marketing efforts.

What they're saying: "Throughout my career, I've had the privilege of working with brands and businesses poised to create a transformative impact on culture and society. Cruise is no exception," he wrote on LinkedIn.

• "It's inspiring to have the opportunity to work alongside visionary leaders in the AV space at a company so dedicated to redefining the future of transportation. ...I'm very much looking forward to making history with our colleagues at General Motors."

Former head of content for Andreessen Horowitz Das Rush has joined N2 Communications to help launch its AI practice, N2+AI.

• Why it matters: Rush will oversee the firm's AI content series, which will help explain the tech and its impact on writers, editors and creators.

Catch-up quick: Prior to joining N2 Communications, Rush managed content for Andreessen's growth fund and the software development company OSIsoft before that.

What he's saying: "We strongly believe that large language models and the latest AI are really a way of turning art and storytelling into data. Since the best data always wins, companies are going to need the best creatives to produce and manage content," Rush told Axios.

• "We're assembling a team of award-winning reporters with real data science chops, novelists who can code, brilliant poets who know how to read an earnings report and translate a technical founder's vision into a go-to market strategy," he added.

• Jon Weinstein joins the National Hockey League as chief communications officer and senior executive vice president.
• Lucid Group appointed Nick Twork as head of global communications.
• Lead Edge Capital promoted Michaela Balderston to chief communications officer.
• SharkNinja appointed Jane Carpenter its first chief communications officer.
• Todd Williamson joins Wells Fargo as head of communications for consumer, small and business banking.
• WSJ deals editor Dana Cimilluca will join banking boutique Centerview Partners in a new comms role.
• X's head of global government affairs Nick Pickles has expanded his role to include communications.

• Egami Group has appointed Laura Sutphen president.
• Rokk Solutions hired CNN News alum Kristin Wilson as senior vice president and Mary Werden as vice president.
• David Wei joined Brunswick Group as a partner based in New York. Luke Palmerlee joined as a partner in Asia-Pacific.
• The Weber Shandwick Collective named Adrian J. Hopkins global head of employee engagement and communications.
• Claudia Traverso has been promoted to president of SBS Comms; Cameron Turner has been promoted to director; Bryahna Turro, Sophia Ingram and Annalisa MacAyeal have been promoted to account executives; and Haley Enriquez joins as an account manager.

• Motion Picture Association has promoted John Mercurio and Greg Saphier to co-lead its communications and public affairs division. Mercurio is senior vice president, head of corporate communications, and Saphier is senior vice president, head of public affairs.
• Troy Blackwell has been appointed deputy chief communications officer at the U.S. Department of Commerce, Patent and Trade Office.
• Alex Howard is now an assistant press secretary at the Department of Homeland Security.
• Ruby Robles joins U.S. Treasury Department as a spokesperson.
• Heartland Forward named J.T. Geren as director of strategic communications

• Axios: Tyler Buchanan is now a Midwest editor, Local.
• Bloomberg: Katie Roof is a venture capital reporter; Cassandre Coyer joins Bloomberg Law as a data privacy reporter; Lee Yian joins as a reporter covering the economy; David Carnevali is a deals reporter.
• Business Insider: Alex Nicoll is covering private equity.
• CJR: Sewell Chan will join as executive editor.
• CNN: Jeremy Diamond is a Jerusalem correspondent.
• Forbes: Lindsey Choo, Veronica Irwin and Stephen Pastis are reporters.
• New York magazine: Charlotte Klein will write about media.
• The New York Times: Jennifer Harlan and Amber Williams are senior editors; Matina Stevis-Gridneff is Canada bureau chief; Annie Correal is a general assignment reporter.

The Yale Model, which has undergirded modern venture capital, may be dying.

Catch up quick: Ivy League endowments, and many of their charitable foundation peers, for decades have overallocated to venture capital.

ZeroEyes, a gun detection video analytics and alert platform, on Friday said that it's raised over $53 million in new venture capital funding.

The big picture: America has done little to restrict the most popular means of mass murder, but some tech companies are working to reduce the number of incidents.

The Federal Reserve's preferred measure of inflation showed prices in aggregate barely budged in May, while annual measures hit the lowest level in over three years, the government said on Friday.

Why it matters: Inflation was benign last month, as the Consumer Price Index report released earlier this month indicated — a turnaround from early 2024 when it looked like progress had stalled out.

Pokémon cards are surging in popularity, with collectors getting millions of them professionally graded per year.

Why it matters: Pokémon is emerging as the next big asset class in the trading card world.

If the Securities and Exchange Commission wants to fine a fraudster, they'll likely need to take it to the courts, per a U.S. Supreme Court ruling issued yesterday.

Why it matters: The ruling could slow the agency's roll, making it more costly and time-consuming to pursue individuals for violating securities law.

The first presidential debate of 2024 has arrived with President Biden and former President Trump facing off for the first time since 2020.

The big picture: There are many ways to watch and stream and stream the all-important debate hosted by CNN, which begins at 9pm ET (6pm PT). One option is to watch right here: