Los Angeles Mayor Eric Garcetti delivers remarks during the U.S. Conference of Mayors in January 2018 in Washington, DC. Photo: Chip Somodevilla/Getty Images

Los Angeles Mayor Eric Garcetti said it was "idiotic" for the FCC to roll back net neutrality rules, and that he hopes the administration reverses course.

Why it matters: Some local elected officials are taking a stand against the FCC's net neutrality decision. Garcetti said at the Upfront Summit in LA on Wednesday that it's another area where local governments can take a leadership position.

Context: Los Angeles is home to a lot of pro-net neutrality internet companies, such as Snap, Hulu and other video startups, so it's not surprising to see Garcetti take this stance.

Role of local government: Garcetti is a big proponent of the idea that the most meaningful action happens at the local level. He also suggested that branch libraries could follow the WeWork model in order to have a dual role as a local incubator.

Big Tech: When asked about increasing concentration in the tech industry, Garcetti said, "I don't fear it and I don't oppose it," he said. "I want to try to help guide it."

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Houston public health system CEO says coronavirus situation is "dire"

Houston's coronavirus situation is "dire, and it's getting worse, seems like, every day," Harris Health System CEO and President Dr. Esmail Porsa said Monday on MSNBC's "Morning Joe."

The big picture: Porsa said the region is seeing numbers related to the spread of the virus that are "disproportionately higher than anything we have experienced in the past." He noted that Lyndon B. Johnson Hospital's ICU is at 113% capacity, and 75% of its beds are coronavirus patients.

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Asset managers at major U.S. investment firms are starting to get bullish with their clients, encouraging stock buying and trying not to get left behind right as the metrics on tech stocks rise back to highs not seen since the dot-com crash of 2000.

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China bans Cruz and Rubio over Xinjiang criticism

Photos: Graeme Jennings/Pool/Getty Images; Al Drago/Pool/Getty Images

China said Monday that it will ban entry to Sens. Marco Rubio (R-Fla.) and Ted Cruz (R-Texas) over their criticisms of human rights abuses in Xinjiang, the AP reports.

The big picture: The move seems to be retaliatory after the U.S. announced sanctions on four Chinese officials for human rights abuses against Uighur Muslims and other ethnic minorities in the region last week.