Axios

A blockchain economist has proposed a more holistic way of thinking about what a token-powered community is really worth.

Why it matters: Open digital communities, including many gaming applications, are hopping again — but the current standard for measuring their value needs an upgrade.

A larger share of 401(k) holders tapped their accounts early for financial emergencies in 2023 than ever before, according to Vanguard.

By the numbers: The pre-pandemic average was about 2%, according to the WSJ, which reported the development.

• So-called "hardship distributions" have set a record now two years in a row.

Reasons for the trend, per WSJ, are increasing financial pressures like groceries and insurance bills.

• Also contributing is the fact that many 401(k) accounts have done quite well in recent years, giving people more confidence to take a dip.

Standing in line may be the most popular activity at SXSW, Hope writes from the annual film, music, tech and media conference in Austin, Texas.

Why it matters: Despite perennial debate over its relevance, the crowds I've seen this year (albeit my first) indicate that there are still many who love to attend.

Behind the scenes: A long line for Tide's experiential marketing events, which were open to the public, was the first one I spotted on Saturday.

• Based on social media posts, it appears the brand gave away samples of its new Evo detergent — as well as free food and drinks.

Reality check: Longtime attendees told me, however, that the conference is about half the size that it was a decade ago.

• That's also when SXSW was a popular time for apps like Twitter, Foursquare and Meerkat to launch... detergents, not so much.

President Biden's budget contains $3 trillion in deficit reduction, as administration officials are eager to tout. Large as that number may seem, though, the details show the limits of trying to reduce the United States' worrying fiscal situation on the backs of the ultra-rich.

Why it matters: The U.S. is facing a large deficit as a share of the economy — even if the Biden administration were to secure the tax increases on billionaires and large corporations it seeks.

There's a big focus on housing in the 2025 budget President Biden just sent Congress.

Why it matters: America's housing shortage plus record high mortgage rates, rising home prices and rents are a big worry for voters — and a key area for the president as he makes his pitch for a second term.

The distance the average American lives from their workplace has soared from 10 miles in 2019 to 27 miles at the end of 2023, per new data from Gusto.

Why it matters: When we had to go into the office every day, the length of the commute mattered more.

President Biden wants to give Americans a $10,000 tax credit — just for selling their homes.

Why it matters: It's an acknowledgment that the housing market has come to something of a standstill amid sky-high mortgage rates.

Silicon Valley Bank says it's still serving 81% of its old customers, but the events a year ago undoubtedly resulted in client defections that benefited the competition.

State of play: Many customers switched to other established banks, and a number of businesses shifted to startup-focused neo-banks. Here's how two of them fared.

A growing number of employers are beefing up workers' child care benefits — driven by a labor market that gives workers more power and the inordinate difficulty of caregiving.

The big picture: 56% of American companies say they're prioritizing care benefits in 2024, according to a new Care.com survey of C-suite and HR leaders.