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!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

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!

Axios on your phone

Get breaking news and scoops on the go with the Axios app.

Download for free.

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!

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!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Sarah Grillo/Axios

Europe's sweeping data privacy law, the General Data Protection Regulation (GDPR), went into effect last Friday, triggering a flurry of multi-billion dollar complaints, the shuttering of news websites overseas and a programmatic (automated) ad-buying market crash in Europe.

Why it matters: There hasn't been any indication that enforcement will be that stringent — regulators have indicated they'll be more lenient in the beginning than businesses realize — but ominous press coverage and the fear of heavy penalties has been enough to rattle industry.

The latest:

  • News outlets have gone dark in Europe: News publishers — many of which were linked to newspaper holding group Tronc, like The Chicago Tribune and The Los Angeles Times — shut down access to their websites from Europe on Friday. As of Monday, those sites were still reportedly blocked.
  • New paywalls are launching in Europe: The Washington Post, is reportedly adding an EU-specific paywall, that is ad and tracking-free, but is more expensive.
  • The tech giants are being slammed with complaints: Google and Facebook, the two biggest data-driven advertising companies globally, were hit with complaints filed by European privacy advocate Max Schrems just hours after GDPR went into effect. Potential penalties, Schrems argues, total up to € 7 billion.
  • Programmatic ad buying has plummeted: Since the early hours of May 25, ad exchanges have seen European ad demand volumes fall between 25 and 40% in some cases, sources tell Digiday. "Ad tech vendors scrambled to inform clients that they predict steep drops in demand coming through their platforms from Google."

The big picture: The panicked reaction to GDPR is significant because U.S.-based attempts to clean up the advertising industry have basically been ignored by marketers.

  • The Federal Trade Commission (FTC) has had native advertising guidelines around deception since 2015, but a lack of enforcement around the rules has caused many publishers to ignore them.

Be smart: Expect enforcement in the U.S. to become a bigger priority now that there has been a full turnover of the five Commissioner positions at the Federal Trade Commission, which enforces consumer protection standards.

  • Two former FTC Commissioners told Axios in March that they expect data privacy and security to be their top consumer protection priority.

What's next? Digital advertising giants are already lobbying the next mega European law, a new ePrivacy Regulation that protects the confidentiality of electronic communications.

Go deeper

Pakistan PM will "absolutely not" allow CIA to use bases for Afghanistan operations

Pakistan will "absolutely not" allow the U.S. Central Intelligence Agency to use bases on its soil for cross-border counterterrorism missions after American forces withdraw from Afghanistan, Prime Minister Imran Khan tells "Axios on HBO" in a wide-ranging interview airing Sunday at 6 pm ET.

Why it matters: The quality of counterterrorism and intelligence capabilities in Afghanistan is a critical question facing the Biden administration as U.S. forces move closer to total withdrawal by Sept. 11.

5 hours ago - World

U.S. wants nuclear deal done before Iran's new president takes power

Iranian negotiatorAbbas Araghchi arrives at the Grand Hotel Wien for the nuclear talks. Photo: Joe Klamar/AFP via Getty Images

The Biden administration wants to finalize a deal with Iran to return to the 2015 nuclear deal in the six weeks remaining before a new Iranian president is inaugurated, a U.S. official tells Axios.

Key quote: The official said it would be "concerning" if talks dragged on into early August, when Iran's transition is due to take place. "If we don't have a deal before a new government is formed, I think that would raise serious questions about how achievable it's going to be," the official said.

You’ve caught up. Now what?

Sign up for Mike Allen’s daily Axios AM and PM newsletters to get smarter, faster on the news that matters.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!