Axios Mar 10
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Report: Goldman Sachs CEO plans his exit

Lloyd Blankfein.
Lloyd Blankfein. Photo: Joe Scarnici / Getty Images for Fortune

"Lloyd Blankfein is preparing to step down as Goldman Sachs Group Inc.’s chief executive as soon as the end of the year, capping a more than 12-year run that has made him one of the longest-serving bosses on Wall Street," the Wall Street Journal reports.

Why he matters: "The departure would conclude a 36-year Goldman career for Mr. Blankfein, the son of a Brooklyn postal worker who rose to the pinnacle of Wall Street. In 1982, he quit his job as a tax lawyer and joined Goldman’s commodities arm as a gold salesman. He rose through the ranks of the firm’s trading business and was named CEO in 2006 when Hank Paulson became Treasury secretary."

  • "The timing of any moves could still change, and the 63-year-old Mr. Blankfein is firmly in control of his exit, the people said. The current thinking, though, is that he will retire ahead of or early in Goldman’s 150th anniversary year in 2019, a fitting send-off for the history buff.
  • What's next: "Goldman is likely to follow an announcement of Mr. Blankfein’s departure with a quick transfer of power and isn’t looking beyond Goldman’s two co-presidents, Harvey Schwartz and David Solomon, to replace him, people familiar with the matter said."

After the Journal's scoop posted, Blankfein tweeted: “It's the @WSJ's announcement...not mine. I feel like Huck Finn listening to his own eulogy."

Haley Britzky 16 hours ago
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Zuckerberg happy to testify if it is "the right thing to do”

A portrait of Facebook founder Mark Zuckerberg
A portrait of Facebook founder Mark Zuckerberg. Photo: Jaap Arriens / NurPhoto via Getty Images

Facebook CEO Mark Zuckerberg said he would be "happy" to testify before Congress if it was "the right thing to do," in an interview with CNN's Laurie Segall.

Why it matters: Facebook has been under the microscope lately for what Zuckerberg called earlier today the "Cambridge Analytica situation." Zuckerberg said if he was the "person...who will have the most knowledge," then he'd be the one to testify in the face of Facebook's data-collection situation.

David McCabe 10 hours ago
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Fed-up Congress considers making it easier to sue Big Social

A GIF shows a gavel coming coming down on a website, computer and iPhone
Illustration: Rebecca Zisser/Axios

Anti-sex-trafficking legislation heading for President Trump's desk that makes it easier to sue platforms like Facebook and Google's YouTube could provide a template for a larger crackdown on malicious content.

Why it matters: After controversies over Russian election interference and data privacy, some in the industry seem to acknowledge that regulation may be coming. "I actually am not sure we shouldn't be regulated," Facebook CEO Mark Zuckerberg told CNN Wednesday night, answering questions about the Cambridge Analytica scandal.