Mar 20, 2018

Facebook's folly could impact other businesses

Dan Primack

Photo by Ted Soqui/Corbis via Getty Images

Facebook has now lost around $64 billion in market value since weekend revelations that 50 million users had their data improperly accessed by a Trump-linked analytics firm.

  • Shares were off another 5.6% as of noon Tuesday.

Bottom line: Increased calls for new user privacy regulations could upend the entire social media business model, and create massive ripples for other businesses that rely on that model for their own marketing efforts. That's a big reason why the Dow fell 1.4% yesterday, even though Facebook isn't actually part of the Dow.

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Ursula Perano

Cuomo says New York is "literally going day-to-day with our supplies"

New York Gov. Andrew Cuomo said in a press conference on Sunday that New York is struggling to maintain medical supplies while combatting the novel coronavirus — operating "literally" on a "day-to-day" basis.

Why it matters: New York City has become an epicenter of the coronavirus outbreak, facing mass quarantines and stay-at-home orders. Cuomo said Saturday that New York reported 630 new deaths in 24 hours — an "all-time increase" that beat the previous day's record of 562 deaths.

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Axios

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 11 a.m. ET: 1,225,360 — Total deaths: 66,542 — Total recoveries: 252,615 — Map.
  2. U.S.: Total confirmed cases as of 11 a.m. ET: 312,249 — Total deaths: 8,503 — Total recoveries: 15,021 — Map.
  3. Public health latest: CDC launches national trackers and recommends face coverings in public. Federal government will cover costs of COVID-19 treatment for uninsured. Surgeon general says this week will be "our Pearl Harbor, our 9/11 moment."
  4. 2020 latest: "We have no contingency plan," Trump said on the 2020 Republican National Convention. "We're having the convention at the end of August." Biden says DNC may have to hold virtual convention.
  5. States updates: The Louisiana governor warned that his state is set to run out of ventilators in four days. Illinois governor claims Trump doesn't understand the word "federal."
  6. Oil latest: Monday meeting among oil-producing countries to discuss supply curbs is reportedly being delayed amid tensions between Saudi Arabia and Russia.
  7. Work update: Employees still going to work are often facing temperature checks, distanced work stations, protective devices and mass absences.
  8. What should I do? Pets, moving and personal health. Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk.
  9. Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

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Jacob Knutson

Illinois governor: "The president does not understand the word 'federal'"

Illinois Gov. J.B. Pritzker said on CNN's "State of the Union" Sunday that President Trump's comments about the federal government's stockpile of medical equipment suggest he "does not understand the word 'federal.'"

Why it matters: White House adviser Jared Kushner argued at a press briefing last week that the "notion of the federal stockpile was it’s supposed to be our stockpile; it’s not supposed to be state stockpiles that they then use."

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