Prediction markets are becoming a go-to place to watch the final hours of major political elections.
Why it matters: This week's NYC Democratic mayoral race showed how fast and responsive prediction markets can be — though their accuracy in predicting a winner still depends on the quality of the info traders are working with, which isn't always the same across elections.
Phoenix, Arizona, has quietly assembled one of America's most comprehensive bioscience ecosystems — and companies are taking notice.
Why it's important: Cities with strong bioscience sectors weather economic downturns better because health care and medical research remain essential, regardless of market conditions.
As demand for innovation accelerates, regions that offer complete bioscience ecosystems — not just isolated advantages — are best positioned to lead.
A trio of financial regulators on Wednesday proposed relaxing how much banks have to hold against their investments.
Why it matters: It is the most significant rule revamp yet for Wall Street in the Trump era, one that loosens requirements for America's largest financial institutions.
Today's students need more than a high school diploma. They need clear pathways to good jobs, living wages and long-term success.
Why it's important: The country's long-term prosperity and success depends on an education system that meets the needs of both students and employers.
Okay, but: Right now, too many students fall through the cracks — academically, financially or through a lack of opportunity.
🔎 Zoom in: Ohio Excels is setting a national example by helping ensure Ohio's education and workforce systems work together to prepare every learner for the demands of the future.
Strong talent pipelines — aligned with business needs — can bolster regional economies and expand worker mobility.
Why it's important: Roughly six in 10 workers will need skills training by 2027 — but only half currently have access to adequate opportunities.*
Expanding access to relevant training and work experiences becomes even more critical as emerging technological changes like AI reshape the labor market.
What you need to know: Regional partnerships can expand talent pipelines that address these shifting workforce challenges and increase access to good jobs that pay a living wage.
The spectacular rise of China's auto industry — seemingly overnight — has rattled industry leaders and policymakers, catching many off guard.
Why it matters: There's a dawning realization across the industry that China's ascendance is both an existential business threat and a national security risk.
Beep, a shared mobility startup, is unveiling a new autonomous public transit system in Jacksonville, Florida, next week, Axios is first to report.
Why it matters: NAVI, short for Neighborhood Autonomous Vehicle Innovation, is the nation's first fully autonomous public transit system, according to Beep.
There's some logic in Ford's argument that licensing Chinese battery technology will help the United States catch up faster to its rival.
Why it matters: Ford has faced political blowback since its 2023 decision to build a battery factory in Michigan using CATL's technology. Now, lucrative Biden-era tax subsidies that made the project financially feasible are at risk, too.
Driving the news: Ford earlier this week showed off progress on the plant, about 100 miles west of Detroit, and said it will move ahead regardless of looming policy changes in Congress.
The Republican-controlled Senate could vote this week on a budget bill that would rewrite policies incentivizing EV production.
⚠️ Tesla's long-awaited robotaxi service began last weekend in Austin, Texas, but some videos posted online by early riders raise questions about unsafe behavior. NHTSA says it is looking into it. (Axios, CNBC)
The federal safety agency is also questioning Ford about its BlueCruise hands-free driver-assistance system as part of its yearlong investigation of two fatal crashes involving the software. (TechCrunch)
🚖 Waymo robotaxis are now available on the Uber app in Atlanta. (Axios)
⚖️ A federal judge ordered the Trump administration to release billions of dollars in funding for the build-out of electric vehicle chargers in more than a dozen states. (AP)
This week, I was going to review Infiniti's QX80, the first new model in the Japanese luxury brand's product renaissance, but I ran into some issues with the car I was given to test drive.
The company says they're looking into them; I'll withhold judgment until I'm confident it looks and behaves like a $113,000 luxury SUV should.
I test-drive vehicles in my role as a juror for the North American Car and Truck of the Year awards. Opinions are my own.
Eric Paley is moving on from venture capital, 16 years after helping to launch seed-stage firm Founder Collective and backing from such companies as Uber, Trade Desk, Cruise, Airtable, and Whoop.
Driving the news: He's agreed to become the next Massachusetts secretary of economic development, with the switch effective after Labor Day.
Aria Growth Partners, a New York-based firm focused on consumer brands, tells Axios that it's raised $152 million for its second fund.
The big picture: That's nearly twice the size of Aria's debut fund, with the firm continuing to be led by Trevor Nelson (ex-Alliance Consumer Growth) and Jackie Dunklau (Cavu Venture Partners).
Spirit Airlines is asking the U.S. Department of Transportation to block a proposed partnership between JetBlue and United Airlines, calling it "anticompetitive."
The big picture: Spirit argues that the deal would make JetBlue a "de facto vassal" of the larger United, and that it would lead to more industry consolidation as other small airlines would feel compelled to accept similar offers from American and Delta.
New York City business leaders woke up to the outcome they least expected Wednesday morning — young, popular socialist Zohran Mamdani cruising to apparent victory in the New York City Democratic mayoral primary.
Why it matters: There's a reason Kathryn Wylde, long the voice of the city's business community, said this week that leaders were "terrified" of Mamdani's rise.
A new app launching today promises to let anyone digitally clone themselves in under three minutes.
Why it matters: The startup, called 2wai (pronounced "two-way"), was co-founded by Disney Channel actor Calum Worthy and Hollywood producer Russell Geyser, and is designed to give entertainers — and everyone else — lifetime ownership over their AI avatars.
A large share of U.S. companies cut back, postponed or canceled spending in the first half of the year due to trade concerns, per a survey of chief financial officers released this morning.
Why it matters: The long-running survey, from Duke University's Fuqua School of Business, portends slower economic growth and higher prices in the coming year.
The S&P 500 has been on a rollercoaster ride, nearing a new all-time high, only 77 days after dipping into an intraday bear market in April.
Why it matters: Historically, a market recovery of this size and speed signals more gains ahead, so forget the prior lows. This relief rally is bullish.
Generative AI has entered the mainstream faster than any previous new technology. But the tech industry hasn't yet figured out the best ways to build AI products — and fierce competition, along with rapid advances, means nobody stays at the top of the heap for long.
Those are some of the top-line findings of a new report on the state of AI foundation models from Innovation Endeavors, the venture capital firm co-founded in 2010 by former Google CEO and chairman Eric Schmidt.
