President Biden's first joint address to Congress drew 26.9 million viewers across 16 broadcast and cable networks, Deadline reports citing Nielsen figures released Thursday afternoon.
Why it matters: That's a drop from 47.7 million audience members that tuned into former President Trump's first speech to a joint session in early 2017.
Joe Rogan back-pedaled on statements he made on his podcast last week when he suggested young people who are healthy do not need to get the coronavirus vaccine.
Why it matters: Rogan's comments drew swift backlash from critics, including multiple Biden officials.
Endeavor, which does talent management, streaming, and also live events, went public today — and it could be an avatar for the broader in-person events industry, which is still struggling to rebound. Axios Re:Cap is joined by executive chairman Patrick Whitesell to discuss how Endeavor weathered the pandemic, how they’re approaching the future of in-person events and a recent decision to bring Elon Musk onto the company board.
Elon Musk has formally joined the board of Endeavor, the Hollywood conglomerate whose properties include the William Morris talent agency and Ultimate Fighting Championship, in conjunction with Endeavor's IPO on Thursday.
Why it matters: This is currently Musk's sole directorship for a company that he didn't help create.
Across jobs and industries, Black employees have more negative views of the state of diversity and inclusion than their colleagues, according to a new report out today by career site Glassdoor.
Why it matters: Negative perceptions of workplace culture have a business cost. They can affect performance and productivity and ultimately lead to turnover.
Zoë Roth, the centerpiece of the "Disaster Girl" meme, has made nearly half a million dollars after selling the original copy as a non-fungible token (NFT), the New York Times reports.
Why it matters: The market for ownership rights to digital art and media as NFTs has recently soared in popularity.
Verizon is seeking a buyer for its digital media unit, including Yahoo and AOL, per WSJ. Among those kicking tires is Apollo Global Management.
Why it matters: It's the highest-profile case of a tech company wanting to become a media content company, and then bolting once it fully grasps the economics of being a media content company.
The gapbetween white Americans' wages and everybody else's grew even larger in the first quarter of this year, according to new data from LISEP, the Ludwig Institute for Shared Economic Prosperity.
How it works: LISEP's calculation of true weekly wages includes not only full-time workers but everybody who is employed or seeking employment.
Passive investing is an area where being overly purist can be self-defeating.
Why it matters: While there's abundant evidence that a hands-0ff approach will nearly always outperform a hands-on approach over the long term, no one really feels safe or in control when their hands are entirely off the wheel.
Donald Trump last month was pitched on launching a multi-billion dollar media and technology company built around his personal brand, with the idea that it could go public via a SPAC.
Behind the scenes: The 24-page presentation made its way to Trump's desk at Mar-a-Lago, although it does not seem to have gained traction with the former president.
General Motors is crafting what it calls a "holistic" electric vehicle charging approach as the automaker launches new EVs and invests big in the technology.
Why it matters: GM's betting its future on EVs! But the hassle of charging is a big obstacle to mass adoption.
America's economic growth rate accelerated to 6.4% in the first quarter of 2021, the Bureau of Economic Analysis announced Thursday, picking up from 4.3% in the final quarter of 2020.
By the numbers: There was good news on the employment front, too. New filings for unemployment benefits came in at a post-pandemic low of 553,000 — the second week in a row that we've hit new lows on that front.
The semiconductor shortage that is roiling the global auto industry will get worse before it gets better, Ford Motor Chief Executive Jim Farley warned Wednesday.
Why it matters: The chip shortage, which GM President Mark Reuss called the worst supply chain crisis in his career, means car buyers will continue to face fewer choices and higher prices.
And it's making the industry's pandemic recovery even harder.
Declining COVID cases, rising vaccination rates, trillions of dollars in government spending and an accommodative Federal Reserve are coming together to create a year of U.S. economic growth for the record books.
Why it matters: A sustained, surging economy is the best way to erase the brutal legacy of business losses and unemployment caused by the pandemic.
Boeing reported another quarter of negative cash flow Wednesday, to the tune of $3.4 billion, and its sixth consecutive quarterly loss. The plane maker is one of many companies that borrowed from the capital markets heavily last year, even as the pandemic caused its revenue — and ability to pay interest — to shrink.
Why it matters: Piling on new debt helped them survive the immediate crisis, but borrowing their way through the turmoil now puts some at risk of becoming “zombie" companies that can operate but can’t pay off their debts or invest in growth.
During his joint address to Congress on Wednesday, President Biden spoke of the need to tax the ultra-wealthy to fix economic inequality in the U.S.
Why it matters: Biden wants to use tax hikes on the rich to pay for his American Jobs Plan and American Families Plan. This philosophy has been a sticking point for many Republicans.
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