The Dow and the S&P recorded their worst day since September 2016 on Wednesday, and the Nasdaq posted its worst since June. Goldman Sachs contributed the most losses.
Data: Money.net; Chart: Andrew Witherspoon / Axios
The spread of artificial intelligence technology will create great demand for workers to "tag and label data," Mark Cuban argued at an event staged by VC firm Lerer Hippeau in New York Tuesday. "In order for machine learning, deep learning ... to be effective and work the most quickly, the more data that is tagged and defined and labeled correctly the quicker everything goes," he told Axios' Dan Primack.
Fox News host Kimberly Guilfoyle told The Mercury News that the idea of her joining the White House press shop, in Sean Spicer's job or another, has been "raised by a number of people" in Trump's administration.
Her quote from a recent Fox show:
"If you want to be successful and do communications with President Trump, you have to be someone who he actually wants to spend a little bit of time with... You've got to insist on getting in front of POTUS, talk to him, and have like five, six minutes with him before you go out there and take the podium, and otherwise you're driving blind."
Why it matters: Axios' Mike Allen has reported that Spicer's job is in jeopardy from a potential Trump shakeup.
Mark Cuban says that despite the high-profile failures of the Trump Administration, the American public still yearns for a disruptive outsider with a background in business as President. During an event staged by VC firm Lerer Hippeau in New York Tuesday, Cuban argued that Trump's missteps will be blamed on Trump's incompetence, rather than his business background. He told Axios' Dan Primack:
There's nobody like Donald Trump. He's just an idiot. —Mark Cuban
President Cuban? The Shark Tank investor didn't rebut rumors that he will run for office in 2020, though he did predict that if he were to run it would be against a President Pence rather than President Trump.
Why it matters: Cuban isn't the only businessman who is rumored to be considering a run for POTUS — Disney CEO Bob Iger is a name that has also been floated as a potential Trump rival in three years.
Axios' Dan Primack sat down with the co-founder of Mosaic and Netscape, Marc Andreessen, who said "prices are spiraling out of control" in the healthcare and education sectors of the economy because of technology. He says productivity and tech innovation are not meeting expectations in America.
In a swipe at the much-ballyhooed "gig economy," Americans say they care less about how much they earn than that their salary is predictable. And, while they want to enjoy what they do, Americans mostly aren't fixated on their job's importance, per a new study by Bloomberg and New America, a Washington-based think tank.
One quick thing: Uncertainty was a thread running through focus groups held as part of the study. "There was a palpable feeling of hopelessness throughout all our focus groups — and especially a lack of control over schedule," the study said.
Why it matters: Americans are not fretting over the largest long-term threats of the dual age of automation and Amazonization, which are wiping out manufacturing and retail employment. Instead, most worry about earning a predictable income — something that is unlikely if they are making ends meet by working at more than one job.
In two recent stories — Trump firing James Comey last week and the Washington Post's bombshell report claiming the president shared sensitive info with a Russian diplomat — left-leaning media has been quick to cry "collusion," while right-leaning media has ardently defended President Trump.
Why it matters: Trump might be quickly losing all trust in Washington, but the conservative news companies that propelled him to the presidency still have his back. They see mainstream media as out to get Trump, and as long as Trump and Russia continue denying accusations, so can they.
Last night, all cable networks were focused on one story: The Washington Post's bombshell report that Trump spilled sensitive secrets to the Russians last week. However, Fox News stood out from the crowd by taking a more defensive approach with its coverage:
Last night's cable news banners read:
CNN: "WashPost: Trump shared highly classified info with Russians"
MSNBC: "WAPO: Trump revealed highly classified info to Russians"
