Susan Montoya Bryan / AP

Lyft reportedly expects to turn a profit next year

Despite being much smaller than rival Uber, Lyft is reportedly shrinking the gap between its revenue and losses, and expects to be profitable in 2018, according to tech news site The Information.

In 2016, Lyft lost about $600 million and generated $700 million in revenue. The year before, it lost more than twice as much as it brought in: $200.6 million in revenue, and a loss of $412 million.

Why it matters:

  1. As The Information points out, there is a chance Lyft could turn a profit before Uber does, despite the latter being much larger and with deeper pockets.
  2. Lyft's steps toward profitability also show that the ride-hailing business model could prove to be sustainable, despite the skepticism about its reliance on subsidizing customers' rides.
Silicon Valley's FDA hopes

Entrepreneur and investor Balaji Srinivasan met with Trump on Thursday as a potential candidate to join the FDA. Srinivasan currently leads a Bitcoin startup, but he previously helped found a genetic testing company and headed a venture capital firm's health tech investments.

Trump also met with Jim O'Neill, a former Health and Human Services official under George W. Bush who currently works at a Silicon Valley investment firm founded by Peter Thiel.

Why it matters: It's no secret that Silicon Valley has long been frustrated with health and medicine regulations, largely avoiding those industries as a result. So it's no surprise that many are cheering the possibility that one of their own could push the FDA to be friendlier to entrepreneurs and make experimentation easier.

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Updated 3 hours ago - Politics & Policy

Trump's Tucker mind-meld

Photo illustration: Sarah Grillo/Axios. Photo: Roy Rochlin/Getty Images and BRENDAN SMIALOWSKI/AFP via Getty Images

If you want to understand the rhetorical roots of Trump's Independence Day speech at Mount Rushmore, go back and watch Tucker Carlson's monologues for the past six weeks.

Between the lines: Trump — or rather his speechwriter Stephen Miller — framed the president's opposition to the Black Lives Matter protest movement using the same imagery Carlson has been laying out night after night on Fox.

Updated 6 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 6 p.m. ET: 11,366,145 — Total deaths: 532,644 — Total recoveries — 6,154,138Map.
  2. U.S.: Total confirmed cases as of 6 p.m. ET: 2,874,396 — Total deaths: 129,870 — Total recoveries: 906,763 — Total tested: 35,512,916Map.
  3. States: Photos of America's pandemic July 4 ICU beds in Arizona hot spot near capacity — Houston mayor warns about hospitals
  4. Public health: U.S. coronavirus infections hit record highs for 3 straight days.
  5. Politics: Former Trump official Tom Bossert says face masks “are not enough”
  6. World: Mexican leaders call for tighter border control as infections rise in U.S.
  7. Sports: Sports return stalked by coronavirus
  8. 1 📽 thing: Drive-in movie theaters are making a comeback.

Bolton's hidden aftershocks

Photo illustration: Sarah Grillo/Axios. Photo: Justin Sullivan/Getty Images

The news media has largely moved on, but foreign government officials remain fixated on John Bolton's memoir, "The Room Where It Happened."

Why it matters: Bolton's detailed inside-the-Oval revelations have raised the blood pressure of allies who were already stressed about President Trump's unreliability.