Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Penguin Random House

Tech writer Steven Levy's new book, "Facebook: The Inside Story," goes on sale on Tuesday. He told Axios his reporting for the 583-page tome, which he started working on in 2015, took a dramatic turn after the Cambridge Analytica scandal and revelations following the 2016 election.

Why it matters: Since Levy already had a seat inside the company when its broader problems arose, he was on the frontlines as Facebook scrambled to address an onslaught of challenges posed by policymakers in Washington and elsewhere.

What he's saying: "Just as Facebook didn’t think it was going to be spending as much energy on policy, neither did I," Levy said in a phone interview Monday.

Background: Levy said he originally thought his reporting would center largely on Facebook's controversial Internet.org effort in India. The project offered subsidized access to the mobile internet, but critics said it undermined principles of net neutrality.

Flashback: The book focuses in part on some of the very past actions that are now inviting scrutiny from antitrust enforcers. Those include Facebook efforts to respond to perceived competitive threats by, for instance, acquiring Instagram and WhatsApp.

Between the lines: In the book, Levy also delves into Facebook's efforts to crack into the smartphone business.

  • Facebook initially had a project to build a mobile OS to rival Google and Apple, but later scrapped that in favor of a customized version of Android that put Facebook's apps front and center. 
  • It worked with HTC on what was supposed to be the first of many "Facebook Home" phones, but that flopped so badly that no successors emerged.

The big picture: Levy isn't the only one with a Facebook book in the works. The New York Times' Cecilia Kang and Sheera Frenkel are focusing on the company's reaction to its many recent scandals, while Bloomberg's Sarah Frier has another book, "No Filter," that focuses on Facebook-owned Instagram.

What's next: Levy said there's plenty left to tell of the Facebook story. "We still don’t know the outcome of Libra or, more to the point, where Facebook's secure private groups initiative is going," he said. "I wasn’t going to hang around for 10 years to find out if VR is the future of platforms."

Go deeper: Facebook's plan to keep growing bigger

Go deeper

Kendall Baker, author of Sports
Updated 4 mins ago - Sports

College football gone mad

Former Notre Dame coach Brian Kelly walks in front of his players. Photo: David Madison/Getty Images

In the span of two days, the head coaches of two of the biggest college football programs in America have jumped ship, wooed by even greater challenges — and the almighty dollar.

Driving the news: Lincoln Riley is ditching Oklahoma for USC in a deal reportedly worth $110 million. LSU poached Brian Kelly from Notre Dame with a reported 10-year, $100 million contract.

Media startups anxiously await BuzzFeed’s stock market debut

Illustration: Sarah Grillo/Axios

Digital media companies considering going public are watching BuzzFeed's expected stock market debut next week to see how investors will respond.

Why it matters: A slowdown in SPACs (special purpose acquisition companies) earlier this year pushed some digital media companies that were considering going public via SPAC IPOs away from the idea, such as Vice.

Retail's IOU boom

Black Friday shoppers in Skokie, Ill. Photo: Joel Lerner/Xinhua via Getty Images

Here's a staggering stat: Americans' use of "buy now, pay later" options increased 438% between November 2019 and November 2021, according to an Adobe analysis reported by Retail Dive.

Why it matters: This is one of the biggest new trends in shopping right now. People are getting more and more comfortable with apps like Afterpay, Klarna and Affirm that facilitate "buy now, pay later," and let customers spread out the cost of purchases over a long period of time without a credit card.