Record-low consumer sentiment, the Iran war and a relatively dormant housing market are suppressing sales of big-ticket home items, according to Whirlpool.
Why it matters: Consumer demand for appliances plunged soon after the war began, resulting in "recession-level industry decline," the U.S. manufacturer said.
Bumble's swipe feature — responsible for countless connections, breakups and everything in between — will soon be no more, founder and CEO Whitney Wolfe Herd announced Wednesday on "The Axios Show."
Why it matters: Wolfe Herd, who returned to the dating app as CEO last year, is making a big bet: ditching core features to pivot toward AI-driven matchmaking and attract new users ahead of a relaunch this year.
McDonald's rode value meals, loyalty perks and menu innovation to stronger first-quarter sales growth, signaling Thursday that consumers are still spending despite persistent economic pressure.
Why it matters: McDonald's results show its affordability strategy is gaining traction with cost-conscious diners squeezed by years of inflation-driven price hikes.
If the U.S. stock market is now largely a bet on the AI boom, then South Korea's market is a supersized, turbocharged version of that wager.
Why it matters: Investors' optimism about the promise of AI is global, but such a concentration of wealth in one sector could be risky in a market downturn.
The AI coding tools letting anyone "build" software without engineering skills are also letting medical records, financial data and Fortune 500 internal docs leak onto the open web, security researchers say.
Why it matters: AI coding tools are enabling employees without engineering or cybersecurity training to publish internal tools publicly, often without company oversight or basic access controls.
If a U.S.-Iran peace deal actually happens this time — and that's still a big if — consumers have a long road ahead before filling up returns all the way to the good old days of early 2026.
Why it matters: Even if the Strait of Hormuz opened right away, pump prices will likely remain higher — maybe a lot higher — than pre-war levels at least through the midterm elections.
Elon Musk's surprise Anthropic deal allows him to accomplish two things at once: turn unused compute into revenue before an expected SpaceX IPO next month — and stick it to his archrival, OpenAI CEO Sam Altman.
Why it matters: Musk went from calling Anthropic "evil" to doing business with it in three months, showing how quickly competition can give way to strategic necessity in the AI race.
Corporate America is delivering the goods this earnings season, dampening fears about the economy, even as rising energy prices threaten to undermine the momentum.
It's no secret that AI has become a splitting headache for private equity, or at least for funds that bought big into enterprise software.
But this isn't just a backward-looking problem, which can be temporarily stemmed by Q1 equity markdowns and maturing debt renegotiations.
Almost every industry big that spoke to Axios at the Milken Global Conference this week said that AI has created massive modeling challenges for new deals, almost regardless of sector.
Private equity is a long-term asset class, typically holding portfolio companies for a minimum of three or four years.
For context, it's been only three-and-a-half years since ChatGPT was first released.
Subsequent AI advancements — including the introductions of Claude, Gemini, etc. — have upended industries.
Any financial sponsor (or lender) who claims a high degree of confidence in the environment three-and-a-half years from now is either lying or self-deluded. Even if it partners with a major frontier lab.
"Modeling exit multiples has always involved a lot of guesswork, but now it feels like throwing at a dartboard blindfolded," said one private equity veteran.
The known unknowns are more pronounced, even in industries that appear AI-resistant or more likely to benefit from the tech than be disintermediated by it.
Private equity has plenty of dry powder, with limited partners continuing to invest despite the DPI drought.
So new investments will obviously be made. Even if the industry's long-term nature, always one of its greatest strengths, is becoming a material weakness.
After years of development, autonomous trucks are gaining traction across the Sunbelt, but the industry's next breakthrough is economic, not technical.
Why it matters: Large-scale adoption won't happen until driverless trucks become cheaper to operate than human-driven ones — an inflection point that could soon reshape freight logistics, labor and supply chains.
Anthropic said Wednesday it has struck a deal to gain access to compute capacity from Elon Musk's SpaceX, a move that could help the company deal with surging demand.
Why it matters: Anthropic has been struggling to meet the needs of developers which has led to aggressive rate caps and a shift to usage-based pricing.
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Ted Turner, the businessman and philanthropist who helped pioneer the 24/7 cable news industry, has passed away, according to a Turner Enterprises statement on behalf of his family. He was 87.
The big picture: Turner turned a small TV station in Atlanta into a broadcasting empire that spanned news, sports and entertainment.
LOS ANGELES — Media companies should focus on creativity instead of growth, The Chernin Group co-founder and North Road chair Peter Chernin said at a May 3 Axios Live event.
Why it matters: Original content gives smaller studios a rare opportunity to compete with industry titans.
Axios' Dan Primack spoke to Chernin for the event, which was sponsored by Edelman Smithfield.
Fun fact: At the time of the interview and a first for the streaming platform,Chernin's production company had the No. 1 TV show ("Man on Fire") and movie ("Apex") on Netflix.
What they're saying: "You can't beat an incumbent on scale," Chernin said. "You beat an incumbent on creativity."
Studios are also "wildly over-focused on sequels," he added. "Those companies should be in the business of creating and inventing original" intellectual property.
"The most exciting things happen where young people and talent and technology come together."
Case in point: North Road's new movie "Backrooms," directed by YouTube creator Kane Parsons and based on a 2019 viral internet post, is projected to be "the most successful new horror movie in the last several years," Chernin said.
What's next: Chernin recommends that major platforms rethink their approach to keeping everything in-house when it comes to ownership, production and distribution rights.
"Embrace independent, creative companies" to stay competitive and relevant, Chernin said.
"Resisting technology is a stupid idea," he added.
Content from the sponsor's segment:
Lisa Leiter, Edelman Smithfield's managing director and U.S. co-head of financial services, told Axios publisher Nicholas Johnston that the rise of AI is causing concern.
"People are worried about losing their jobs," she said, "and there's a fear that [AI] could really damage society."
Companies should be clear, concise and specific as they share information with the public to reinforce trust, she added.
Nearly 10 weeks into the Iran war, there's new — if still anecdotal — evidence that it could bring tailwinds for global uptake of clean energy tech.
Why it matters: The energy shock highlights many nations' vulnerability to the expensive disruption of oil and gas imports — and the security case for diversifying.
The movers and shakers at the Milken Institute Global Conference in Beverly Hills, California, this week — ranging from CEOs and investors to celebrities (Shaq!) and politicians like Sen. Ted Cruz (R-Texas) and Rahm Emanuel — are all navigating a complex landscape, in a couple of ways.
The big picture: The global economy is going through a historic transformation, creating a range of challenges.
Also: The Beverly Hills Hilton,longtime home to the 29-year-old conference, is under construction — leaving less room for schmoozing and some weird logistics.
The director of the Pentagon'sEconomic Defense Unit has heard your "Deal Team Six" jokes. He thinks the nickname is both fun and fitting.
"Economic warfare has been a part of all successful nations for thousands of years," George Kollitides, who's months into the job, told Axios at the Milken Institute Global Conference in California.
The big picture: Dealmaking is synonymous with national security. There is no missile production, no shipbuilding, no crazy venture valuations, no European rearmament and no American reindustrialization without it.
AI is helping make doctors the unwitting stars of deepfake videos that hawk questionable products or spread misinformation, prompting calls from clinicians for more privacy and transparency laws.
Why it matters: The profusion of AI content on social media platforms could further erode public trust in the medical establishment.
Coinbase is the latest in a string of companies to pair layoffs with announcements that AI is changing the way the company operates.
Why it matters: Companies are increasingly blaming AI for job cuts, but the evidence points to a messier mix of automation, cost-cutting and market pressure.
The simplest AI playbook we know doesn't involve a single model. It's three questions, asked by YOU to YOU. They work for any size company, any seniority level:
What are the three things, in order of importance, you must do to meet or exceed expectations in your gig?
What are three things you think you're supposed to be doing that make no sense, could be done better or not at all?
What are three things AI could do better than you to 10x your output?
