Casting for a new reality show based on Netflix's "Squid Game" is underway.
Why it matters: Netflix is hoping to strike gold (many times) with "Squid Game" — its most-watched original series — amid slowing growth on its platform.
The seven members of BTS are looking for change away from one another, the world’s most popular K-pop icons announced in a video posted today.
Why it matters: The band was careful to say they’re not breaking up. At the same time, history has shown (see: One Direction), that whenever one member pursues a solo career and hits it big, the band basically never reunites.
Five of the world's largest tech companies owned more than half (53%) of all global ad revenues last year, up from 46% last year.
Why it matters: Macroeconomic factors like inflation and rising wages are making it harder for new entrants to disrupt the ad market, analysts explain in the latest midyear ad forecast from GroupM.
Equipment maker Caterpillar will move its corporate headquarters from Illinois to Texas, marking the second major company in recent months to shift its HQ out of the Land of Lincoln.
Why it matters: Moving headquarters can have substantial tax implications and can affect corporate culture, local real estate and talent attraction and retention.
Enterprise software company MicroStrategy is at risk of having to post more of its bitcoin after taking out a loan to buy more bitcoin.
Driving the news: The price of the cryptocurrency overnight briefly fell below $21,000 — a level at which the company previously said it could face a margin call. That means MicroStrategy could soon face a requirement to post more capital for its roughly $205 million bitcoin-collateralized three year term loan.
How America's top CEOs are feeling about the economy depends on if you're a glass-half-full or half-empty type.
What's new: As of early June, the 177 leaders of America's biggest companies surveyed by the Business Roundtable (BRT) were still planning to hire and invest at high rates, according to data shared exclusively with Axios.
But their outlook deteriorated rapidly compared to early March — the sixth-fastest drop in the 78 quarters the survey has been conducted.
Centralized crypto lender Celsius rocked its customers' worlds Sunday night after freezing withdrawals and other transactions on the platform, citing "extreme market conditions."
Why it matters: The company is testing the terms of its user agreement that allow it to close the gate on users who are pulling funds out, plus those making swaps or transfers.
Representatives from both the U.S. legislators and administration officials expressed urgency Tuesday around providing clarity to the digital asset or blockchain industry during Axios' "Crypto and the Investing Space" event.
Why it matters: If the rules in an industry are fuzzy, the bad actors are fuzzy, too.
Wonder, a "cloud kitchen on wheels" company led by Marc Lore, raised $350 million led by Bain Capital Ventures at around a $3.5 billion valuation.
Why it matters: This is a giant investment in a moonshot meal delivery startup, which is exactly the sort of thing that would seem to be out of fashion right now. For the investors, that means it will be on their professional epitaphs, for better (brave contrarians) or worse (profligate dullards).
Coinbase Global said Tuesday morning that the crypto exchange would lay off roughly 18% of its workforce, or about 1,100 full-time jobs.
Why it matters: Layoffs and rescinded job offers are starting to become more commonplace amid fears of an economic downturn leading to an extended crypto winter.
The Washington Post and Imagine Entertainment have struck a multi-year deal to create scripted and non-scripted film and TV content based on the Post's vast archives, current reporting and ongoing investigations.
Why it matters: It's the Post's first major move into premium video.
The New York Times on Monday said it's planning to reach 15 million subscribers by the end of 2027, a goal that CEO Meredith Kopit Levien told Axios will help the company become even more profitable in the next three to five years.
Why it matters: While 15 million is a small fraction of the 135 million people globally that the Times believes are willing to pay for a news subscription today, it's a massive number compared to its peers' subscriber rosters.
The Washington Post is looking to double down on its investment in its tech publishing arm, Arc XP, despite outside sales interest valuing the company in the low nine figures, sources told Axios.
Why it matters: The company sees more long-term value in trying to grow the business than sell it now, executives told Axios.
More employersare proactively saying that they'll give candidates with criminal backgrounds or arrest records a "fair chance," the common phrase for such a practice.
Why it matters: All the stock market angst isn't yet seeping into the job market where most employers (with the possible exception of tech companies) are still desperate to hire.
Companies whose financial fortunes mirror the ups and downs of the actual economy led the market plunge into bear market territory Monday.
Why it matters: The growing sell-off in so-called cyclical stocks — which until recently have held up reasonably well — suggests that investors are entering a new phase of concern about the economy.
Jupiter Intelligence, one of the largest independent sellers of climate risk information, announced a new strategic partnership on Tuesday with Boston Consulting Group to help its corporate ESG practice and clients, the company first told Axios.
Why it matters: Jupiter, which has offices in Silicon Valley, Boulder, Colorado, and New York City, is pursuing an aggressive partnerships strategy to distinguish itself in a crowded field.
President Biden, in an Oval Office meeting last week with key members of his Cabinet, indicated he's leaning toward removing some products from the Trump administration's China tariffs list, people familiar with the matter tell Axios.
Why it matters: With inflation at a 40-year high of 8.6%, Biden and his top officials are desperate to show action on bringing down prices, even if it makes them appear weak on China.
SpaceX can proceed with planned orbital launches of its Starship vehicle from Texas provided Elon Musk's company makes dozens of environmental adjustments, the Federal Aviation Administration said on Monday.
Driving the news: An FAA environmental review found there would be "no significant impact" on the Gulf Coast region from SpaceX launches from its site in Boca Chica.
