Get the latest market trends in your inbox

Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. 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!

Denver news in your inbox

Catch up on 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!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa-St. Petersburg news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg

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!

WeWork will open coding academies within all its office spaces. (Photo: Flatiron School)

WeWork, the office leasing giant, has acquired the New York-based Flatiron School, a private coding academy, in a gamble on 15-week, $15,000 vocational education as opposed to far more expensive four-year college degrees. The companies did not disclose the precise value of the cash-and-stock deal. At $20 billion, WeWork is tied for the sixth most-valuable startup in the world.

Why it matters: At a time many experts and politicians are questioning the assumption that college is for everyone, the deal bets on a fashionable form of vocational education — coding — as a route to well-paying software jobs. The plans are to expand Flatiron from its single location in New York's financial district into most of WeWork's approximately 170 offices, which would further test the growing idea of bypassing college, at least in the U.S. tech world.

The deal fits WeWork's cultural play: WeWork rents out exquisitely designed and operated office spaces with the feel of boutique hotels. Adam Enbar, co-founder of Flatiron, said the deal, which was signed Oct. 11 but announced only today, aligns with a cultural shift to which WeWork is marketing. "More than prior generations, people want community at work," Enbar told Axios. "When you imagine education in a space, it starts to make sense. One of the most powerful forms of community is learning."

Six days after the agreement, Flatiron signed a settlement with the New York Attorney General in which it agreed to more clearly disclose its hiring and salary rates. Almost all graduates find jobs within six months, but they range from full-time positions to internships. The settlement included a $375,000 payment. The school appears now to be in full compliance.

Artie Minson, WeWork's CFO, said the deal was in the works for nine months. Enbar said that many on-line schools were failing to teach effectively because most students need to be with other students while they learn, and not just learning content at home alone. That is why the physical school is important. "We forget about that," he said. "Something is lost when you remove a physical community."

Go deeper

Dan Primack, author of Pro Rata
11 hours ago - Technology

TikTok gets more time (again)

Illustration: Aïda Amer/Axios

The White House is again giving TikTok's Chinese parent company more to satisfy national security concerns, rather than initiating legal action, a source familiar with the situation tells Axios.

The state of play: China's ByteDance had until Friday to resolve issues raised by the Committee on Foreign Investment in the U.S. (CFIUS), which is chaired by Treasury secretary Steve Mnuchin. This was the company's third deadline, with CFIUS having provided two earlier extensions.

Federal judge orders Trump administration to restore DACA

DACA recipients and their supporters rally outside the U.S. Supreme Court on June 18. Photo: Drew Angerer via Getty

A federal judge on Friday ordered the Trump administration to fully restore the Deferred Action for Childhood Arrivals program, giving undocumented immigrants who arrived in the U.S. as children a chance to petition for protection from deportation.

Why it matters: DACA was implemented under former President Obama, but President Trump has sought to undo the program since taking office. Friday’s ruling will require Department of Homeland Security officers to begin accepting applications starting Monday and guarantee that work permits are valid for two years.

Updated 13 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Fauci says he accepted Biden's offer to be chief medical adviser "on the spot" — The recovery needs rocket fuel.
  2. Health: CDC: It's time for "universal face mask use" — Death rates rising across the country — Study: Increased testing can reduce transmission.
  3. Economy: U.S. economy adds 245,000 jobs in November as recovery slows — America's hidden depression: K-shaped recovery threatens Biden administration.
  4. Cities: Bay Area counties to enact stay-at-home order ahead of state mandate
  5. Vaccine: What vaccine trials still need to do.
  6. World: UN warns "2021 is literally going to be catastrophic"
  7. 🎧 Podcast: Former FDA chief Rob Califf on the vaccine approval process.