Jan 31, 2017

China is not having Facebook's efforts to get social

Matt Rourke / AP

Mark Zuckerberg has been lobbying since 2009 to get China to allow his social networking service back into the country, but it's probably not going anywhere, per the WSJ.

The bottom line: Efforts to soften China — such as hiring Chinese employees, using tech that's acceptable to the ruling Communist Party and learning Mandarin — aren't breaking down the barriers. Meanwhile social media brands in China, such as Weibo and Tencent Holding's WeChat and QQ, are already dominating the scene.

Why the Chinese blockage matters: There are 700 million internet users in China, making it an enormous potential growth area. The growth prospects in the U.S. are slowing as the company's ad revenues are possibly peaking: it boasted an 84% share of industry ad revenues in the third quarter of last year, per a WSJ report.

What to watch: Facebook will announce its earnings this Wednesday. Look for signs of growth with its Messenger app, Oculus VR headset, WhatsApp, or Instagram — since China isn't on its list of growth markets (at least for now).

Go deeper

Fauci: "Active discussion" about broadening use of masks to fight coronavirus

Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, told CNN Tuesday that the White House coronavirus task force will hold an "active discussion" about broadening the use of medical masks to protect against coronavirus.

Why it matters: Such a guidance shift would be a huge change in messaging from the Trump administration, which initially advised against healthy people using masks.

Go deeperArrow17 mins ago - Health

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 11 a.m. ET: 803,650 — Total deaths: 39,033 — Total recoveries: 172,772.
  2. U.S.: Leads the world in confirmed cases. Total confirmed cases as of 11 a.m. ET: 164,785 — Total deaths: 3,173— Total recoveries: 5,945.
  3. Public health updates: A state-by-state look at when the outbreak will peak.
  4. Trump latest: Senior administration officials discuss why the president backed off his planned Easter reopening date.
  5. Federal government latest: The Trump administration has deemed gun stores essential businesses during the outbreak.
  6. Sports update: NCAA spring-sport athletes will get an extra season of eligibility due to their canceled seasons from the coronavirus outbreak.
  7. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

M&A activity crashes

Illustration: Sarah Grillo/Axios

Global merger and acquisition activity fell sharply in the first quarter of 2020, with dollar volume dropping 28% to $698 billion and the number of deals off 14% to 9,616, according to preliminary data from Refinitiv.

The big picture: The dollar drop was largely driven by the disappearance of megadeals valued at over $10 billion, which fell from $412 billion for the Jan. 1–March 28 period in 2019, to $179 billion that same period this year.