Sign up for our daily briefing

Make your busy days simpler with the Axios AM and PM newsletters. 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 the Axios Closer newsletter 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!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

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 the Axios Sports newsletter. 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!

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 the Axios Des Moines newsletter.

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 the Axios Tampa Bay newsletter.

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!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

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!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

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: Annelise Capossela/Axios

In a first taste of Republicans' Biden-era villains, the Virginia GOP is rolling out some of Donald Trump's favorites — China and Hillary Clinton — for the state's 2021 election.

Why it matters: Virginia’s off-year elections are an early battleground in defining the Republicans’ post-Trump identity. A spate of attacks against GOP gubernatorial candidate Glenn Youngkin appears to be drawing from the same playbook, hyping familiar Trump-era GOP villains.

What’s new: The latest round of ads came from a Virginia-based nonprofit called Americans for Limited Government.

  • ALG has placed radio and television spots going after Youngkin.
  • The former private equity executive is well-positioned in the primary, already raising well over $1 million, and he has substantial personal wealth he can pour into his campaign. Among his formidable challengers are former state House Speaker Kirk Cox and state Sen. Amanda Chase, a hard-right Trump ally.
  • The ads dubiously accuse Youngkin of funding Black Lives Matter protests and Hillary Clinton. They also mention his business dealings in China, with the radio ad punctuating the attack with gong sound effects.
  • ALG has attempted to downplay its politicking in official paperwork. It told a Norfolk radio station its ads do not “communicate a message relating to any political matter of national importance,” a designation requiring additional disclosure in political ad filings.

What they're saying: “These are false and deceptive smears, and the political insiders and previously failed candidates behind them are going back to their old political playbook and hiding behind shady groups because they know their dirty games are rotten to the core,” Youngkin spokesperson Macaulay Porter said.

Another group dubbed the Virginia Cornerstone PAC has run ads with similar messaging.

  • A video from the group also hypes Youngkin’s Chinese business dealings and supposed Clinton backing. (The donations to Clinton and other Democrats all came from the Carlyle Group, his former employer, or his colleagues at the firm — not from Youngkin.)
  • The Cornerstone PAC retained the same firm as ALG to place radio ads in the Virginia governor's race, FCC filings show.
  • Virginia Cornerstone is run by Chris Jankowski, a prominent GOP strategist in the state. He has declined to identify the group’s funders to the media before filing mandatory disclosure reports.
  • In addition to its ads, the group has also posted a 120-page opposition research file about Youngkin on its website.

Phrases from that oppo file appear verbatim on the website of another new political group called Stop Bad Candidates PAC.

  • That PAC’s website, which appears to have been created late last year, is devoted to posting bits of opposition research on Youngkin and Democrat Terry McAuliffe, whom Stop Bad Candidates — like Virginia Cornerstone — attempt to portray as like-minded.
  • The people, organizations and funders behind Stop Bad Candidates PAC are a mystery. It hasn’t disclosed any information about its finances and did not respond to inquiries from Axios.

The bottom line: All three groups are pushing similar messages, seemingly based on the same research file. But each is careful to obscure information about its operations.

  • For Youngkin’s campaign, that’s making it difficult to nail down precisely who is coming after their candidate.

Go deeper

10 mins ago - Technology

3D printing's next act: big metal objects

Chief Scientist Andy Bayramian makes modifications to the laser system on Seurat's 3D metal printer. Photo courtesy of Seurat Technologies.

A new metal 3D printing technology could revolutionize the way large industrial products like planes and cars are made, reducing the cost and carbon footprint of mass manufacturing.

Why it matters: 3D printing — also called additive manufacturing — has been used since the 1980s to make small plastic parts and prototypes. Metal printing is newer, and the challenge has been figuring out how to make things like large car parts faster and cheaper than traditional methods.

Rising rates may hammer the stock market

Illustration: Sarah Grillo / Axios

Stocks are much more vulnerable to interest rate swings than they used to be.

Why it matters: A sharp rise in rates in early 2022 is the key reason the stock market is off to an ugly start. And with the Federal Reserve making noise about trying to keep inflation in check, rates could go higher.

Ina Fried, author of Login
55 mins ago - Technology

Microsoft's Activision Blizzard deal complicates Big Tech regulation

Illustration: Megan Robinson/Axios

Microsoft's surprise $68 billion deal to buy Activision Blizzard is adding a fresh twist to the heated debate over which tech companies have monopolies that need to be reined in.

The big picture: The deal could force a question the company has happily ducked for a decade: whether its size and power make it just as deserving of regulatory scrutiny as its Big Tech rivals.