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Illustration: Sarah Grillo/Axios

15 years after he launched the "digital equivalent of a town square," Facebook founder Mark Zuckerberg is promising a major shift in the other direction. "I believe the future of communication will increasingly shift to private, encrypted services where people can be confident what they say to each other stays secure and their messages and content won't stick around forever," he announced today.

Why it matters: "That would mark a sharp reversal for Facebook, which has grown into one of the world’s wealthiest companies by inventing exotic new methods of personal data collection," The Verge's Casey Newton writes.

What they're saying: "#1 reason to be suspicious of Zuckerberg’s privacy manifesto today ... It doesn’t say how Facebook is going to make money in a world where it respects our privacy," the Washington Post's tech columnist Geoffrey Fowler tweets.

More from Zuck: "As we build our infrastructure around the world, we've chosen not to build data centers in countries that have a track record of violating human rights like privacy or freedom of expression."

  • "Upholding this principle may mean that our services will get blocked in some countries, or that we won't be able to enter others anytime soon.
  • "That's a tradeoff we're willing to make."

Between the lines: Axios reporters shared thought bubbles on what this means across the company.

  • Facebook users: Internet users are already seeking out private, ephemeral and group-oriented services as alternatives to the reputational risks and pervasive harassment that can accompany public platforms, Axios' Sara Fischer has reported.
  • Facebook's bottom line: The company could enjoy lower operational costs and risk since it will no longer have to invest in as many content moderation efforts on an encryption-based platform, Sara said.
  • Facebook advertisers: The encrypted part could become a big deal if users do more posting in encrypted groups than in public, Axios' Scott Rosenberg notes.
  • Facebook regulators and U.S. lawmakers: This makes it harder for any government to break up Facebook/WhatsApp/Instagram because of the integration of the technological and business parts of the platforms, Axios’ Ina Fried wrote on Slack.

Go deeper: Facebook's reputation is sinking fast

Go deeper

Updated 19 mins ago - Sports

The Olympic events to watch today

U.S. diver Krysten Palmer. Photo: Clive Rose/Getty Images

5 events to watch today...
  • 🏃 Track & Field: Watch the men’s 100m final at 8:50 a.m. ET on nbcolympics.com
  • 🏐 Men’s volleyball: USA plays Argentina in the group stage at 8:45 a.m. on NBC.
  • 🤸 Gymnastics event finals: Watch the replay of the men's floor exercise and pommel horse, as well as the women's vault and uneven bars starting at 9:30 p.m. on NBC.
  • 🤽Men's water polo: USA takes on Greece in group play at 10:30 p.m. ET on CNBC.
  • 🏊Women's springboard final: Watch the replay tonight on NBC.

In photos: Tokyo Olympics day 9 highlights

Team USA's Ryan Murphy, Zach Apple, Michael Andrew and Caeleb Dressel celebrate winning gold in the final of the men's 4x100m medley relay swimming event during the Tokyo 2020 Olympic Games at the Tokyo Aquatics Centre in Tokyo on Aug. 1. Photo: Odd Andersen/AFP via Getty Images

Day nine of the Tokyo Olympic Games Sunday saw the final day of swimming competition end with a historic win for Team USA.

The big picture: The U.S. men's 4x100-meter medley relay team set a new record world as they won the final and Caeleb Dressel earned a fifth gold — becoming the fifth American to do so. Team USA's Bobby Finke won the 1,500-meter freestyle.

Trump PACs raise over $82M for first half of 2021

Former President Trump during the Conservative Political Action Conference in Dallas, Texas, on July 11. Photo: Brandon Bell/Getty Images

Former President Trump's political action committees (PACs) raised more than $82 million in the first half of 2021, per Federal Election Commission filings published on Saturday.

Why it matters: It's a significant amount for a former president who's been banned from major social media platforms. It demonstrates his ability to raise huge sums of money should he choose to run for the presidency for a third time.

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