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Google Ads chief leaves for VC firm

Dan Primack, author of Pro Rata

Photo by Kim Kulish/Corbis via Getty Images

Sridhar Ramaswamy is stepping down as Google's head of advertising and commerce in order to join venture capital firm Greylock as a venture partner.

Why it matters: Ramaswamy was overseeing the part of Google that generates most of its revenue.

Go deeper

Courtenay Brown
56 mins ago - Economy & Business

Financial fallout from the Texas deep freeze

Illustration: Annelise Capossela/Axios

Texas has thawed out after an Arctic freeze last month threw the state into a power crisis. But the financial turmoil from power grid shock is just starting to take shape.

Why it matters: In total, electricity companies are billions of dollars short on the post-storm payments they now owe to the state's grid operator. There's no clear path for how they will pay — something being watched closely across the country as extreme weather events become more common.

Go deeper (1 min. read)Arrow
Alayna Treene, Lachlan Markay
1 hour ago - Politics & Policy

U.S. Chamber decides against political ban for Capitol insurrection

A pedestrian passes the U.S. Chamber of Commerce headquarters as it undergoes renovation. Photo: Andrew Harrer/Bloomberg via Getty Images

The U.S. Chamber of Commerce revealed Friday it won't withhold political donations from lawmakers who simply voted against certifying the presidential election results and instead decide on a case-by-case basis.

Why it matters: The Chamber is the marquee entity representing businesses and their interests in Washington. Its memo, obtained exclusively by Axios, could set the tone for businesses debating how to handle their candidate and PAC spending following the Jan. 6 Capitol attack.

Go deeper (1 min. read)Arrow
Stef W. Kight
2 hours ago - Politics & Policy

CDC lets child migrant shelters fill to 100% despite COVID concern

Intensive care tents at overflow shelter in Carrizo Springs, Texas. Photo: Sergio Flores/The Washington Post via Getty Images

The Centers for Disease Control is allowing shelters handling child migrants who cross the U.S.-Mexico border to expand to full capacity, abandoning a requirement that they stay near 50% to inhibit the spread of the coronavirus, Axios has learned.

Why it matters: The fact that the country's premier health advisory agency is permitting a change in COVID-19 protocols indicates the scale of the immigration crisis. A draft memo obtained by Axios conceded "facilities should plan for and expect to have COVID-19 cases."

Go deeper (2 min. read)Arrow