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Lazaro Gamio / Axios

Big-name advertisers are continuing to pull their ads from YouTube as the company scrambles to regulate the controversial content being uploaded to its site. While this crisis is a revenue and branding nightmare for Google, it can be a win for advertisers and competitors like Facebook.

Winners:

  • Facebook: Facebook has been testing mid-roll video ads that will eventually be available for everyone to buy programmatically, the same way YouTube sells video ads. But is that still a good idea? Facebook Live is facing major backlash for extremist content that's being uploaded. Introducing video ads into crowdsourced videos, especially live ones, could pull Facebook into the same mess Google is currently facing. Now, Mark Zuckerberg has time to observe YouTube's travails and tweak his strategy.
  • Advertisers: YouTube's ad crisis could give advertisers leverage for more data and control, Recode reports. Google, which has been called a "walled garden" for keeping its metrics secret, could find itself needing to be more transparent with its advertisers about where their ads are going.
  • Tech competitors: As CNN's Brian Stelter noted earlier this week, a few of the advertisers that were first to pull ads from Google in the U.S., like AT&T and Verizon, are Google's competitors. For AT&T specifically, it's new pay-TV option, DirectTV Now, will be a rival to YouTube's new TV streaming service.

Losers:

  • Ad buyers: Ad buyers are supposed to be responsible for placing advertising next to brand-safe content. While most ad buyers realize that programmatic ad buying through Google has risks, they've been able to avoid pulling Google buys from plans by creating lists of places they won't let their content run, but those lists fail to catch all offensive content. With heightened awareness around Google's problems, ad buyers are going to have a tougher time convincing their clients to run on YouTube, even if the return on investment is high.
  • Alphabet: Share in Google's parent company fell after the ad crisis reached the U.S. last week; though it's unknown how big a revenue hit Google is taking and some analysts say the crisis will have no lasting impact.
  • Youtube: On Friday, WSJ reporter Jack Nicas spotted a pre-roll ad for YouTube Red (YouTube's subscription service) alongside explicit content. And last week, Axios' Ina Fried highlighted how YouTube is being slammed by advertisers pulling ads from YouTube for not being restrictive enough in weeding out extremist content, while LGTBQ advocates are criticizing the video platform for restricting non-salacious LGTBQ content from its restricted platform.

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Illustration: Eniola Odetunde/Axios

Wall Street is digging in for a potentially rocky period as Election Day gets closer.

Why it matters: Investors are facing a "three-headed monster," Brian Belski, chief investment strategist at BMO Capital Markets, tells Axios — a worsening pandemic, an economic stimulus package in limbo, and an imminent election.

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Photo illustration: Aïda Amer/Axios. Photo: Drew Angerer/Getty Images

Four more years of President Trump would almost certainly kill the Iran nuclear deal — but the election of Joe Biden wouldn’t necessarily save it.

The big picture: Rescuing the 2015 Joint Comprehensive Plan of Action (JCPOA) is near the top of Biden's foreign policy priority list. He says he'd re-enter the deal once Iran returns to compliance, and use it as the basis on which to negotiate a broader and longer-lasting deal with Iran.

Kamala Harris, the new left's insider

Photo illustration: Eniola Odetunde/Axios. Photo: Joe Buglewicz/Getty Images     

Progressive leaders see Sen. Kamala Harris, if she's elected vice president, as their conduit to a post-Biden Democratic Party where the power will be in younger, more diverse and more liberal hands.

  • Why it matters: The party's rising left sees Harris as the best hope for penetrating Joe Biden's older, largely white inner circle.

If Biden wins, Harris will become the first woman, first Black American and first Indian American to serve as a U.S. vice president — and would instantly be seen as the first in line for the presidency should Biden decide against seeking a second term.