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Mark Zuckerberg gives a speech at Harvard. Photo: Paul Marotta/Getty Images

Digesting Facebook's move to emphasize meaningful connections over time spent ("less public content like posts from businesses, brands, and media"):

  • Axios CEO Jim VandeHei, quoted by Wall Street Journal's Ben Mullin: "People should chill out: Facebook is a public company that controls its own decisions and destiny ... Publishers should do the same damn thing." (Subscription)
  • N.Y. Times "State of the Art" columnist Farhood Manjoo: If Mark Zuckergerg "really does want to make the time we spend on Facebook count as 'time well spent,' I suspect Facebook will have to change much more radically than it is now letting on."
  • "It can’t just become a slightly healthier cookie company; it may have to get out of the sugar business altogether. And what, then, happens to all those billions in future profits?"
  • Recode's Peter Kafka: "Wall Street thinks this is not good news: Facebook ... closed down 4.5 percent to $179.37," in part because Zuckerberg was candid that the change could mean less time spent (and thus ads consumed) in the short term.
  • "Context: If you bought Facebook shares a week ago, that drop looks pretty scary. ... If you bought them a year ago? No problem. You’re still up more than 40 percent."

Go deeper

Mark Meadows will stop cooperating with Jan. 6 panel, attorney says

Photo: Chris Kleponis/Polaris/Bloomberg via Getty Images

Former White House chief of staff Mark Meadows will no longer cooperate with the House select committee investigating the Jan. 6 Capitol insurrection, his attorney told Fox News Tuesday.

Why it matters: Meadows, who failed to appear before the panel last month, is believed to have insight into former President Trump's role in efforts to stop the certification of President Biden's election win.

Updated 4 hours ago - Economy & Business

The billionaire balloon

Data: World Inequality Report 2022; Chart: Axios Visuals

The super-rich are getting stupid rich: New data out today shows the share of global wealth held by the richest slice of humanity swelled by almost a full percentage point during the pandemic.

Driving the news: The top 0.01% of individuals now hold about 11% of the world's wealth, compared to just over 10% in 2020, according to the "World Inequality Report 2022," written by Lucas Chancel, Thomas Piketty, Emmanuel Saez and Gabriel Zucman.

Tina Reed, author of Vitals
4 hours ago - Health

Omicron gives a shot to boosters

Expand chart
Data: CDC; Chart: Will Chase/Axios

Vaccination rates have ticked higher since the discovery of the Omicron variant, CDC data shows.

By the numbers: The seven-day average for vaccinations in the U.S. reached about 1.8 million on Monday, up from an average of about 1.3 million a month ago.