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Jae C. Hong / AP

Los Angeles looks set to host the Summer Olympics in 2028 after reaching an agreement with the International Olympic Committee and Parisian officials, who nabbed the 2024 Games, according to a report in the Los Angeles Times.

  • An odd process: The IOC broke its usual process and decided to award 2024 and 2028 Summer Olympics simultaneously after both Los Angeles and Paris presented extremely strong bids.
  • The big question: which city would host first?
  • Why it matters: The Olympics can mean a huge economic boom — or bust — for its host city. Los Angeles last hosted the Games in 1984, using corporate funding, television rights, and existing facilities to keep its outlays low. But expect sustained controversy over the fact that the cash needed for the infrastructure and security required to successfully execute a 21st century Summer Olympics might be better spent elsewhere (that issue sunk Boston's 2024 bid).

Go deeper

A tale of two jobs reports

Source: Bureau of Labor Statistics; Chart: Axios Visuals

Whatever you think about the economy, you’ll find something in this morning’s conflicting jobs report to reinforce your views: America's job market is white-hot and the labor market is anemic.

Between the lines: The conflict comes from the two separate surveys the government uses to compile the report.

Elon Musk's mega-billion bounty

Photo: Patrick Pleul/picture alliance via Getty Images

Here's how insanely rich Elon Musk is: He has unloaded $10 billion of his stock in the past month — and could do that 15+ more times given his silos of shares.

Ina Fried, author of Login
5 hours ago - Technology
Column / Signal Boost

Huawei sanctions snarled chip supply chains

Illustration: Sarah Grillo/Axios

The largely successful U.S. effort to hobble China's Huawei has benefitted a host of other tech companies — from smartphone makers such as Apple and Xiaomi to chipmakers like Qualcomm to network vendors including Nokia and Ericsson.

Yes, but: The massive disruption to the industry furthered an industry wide mismatch between supply and demand, exacerbating the global chip shortage.