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!

Illustration: Sarah Grillo/Axios

Mark Zuckerberg said Thursday he's giving up setting annual challenges for himself and trying to take a longer view. But 2020 has already thrown down a challenge for him: threading a needle between business demands and political landmines.

The big picture: Zuckerberg has to grow revenue and users, yet not get blamed for tipping another election — and not buckle on what he views as the core value of free speech. Despite an onslaught of bad press, he seems to be succeeding ... for now.

The reality: Facebook's revenue and user base has shown consistent growth over the past year, proving that users and advertisers aren't too spooked by the drama around data privacy and misinformation. And unlike key rivals Google and Amazon, Facebook hasn’t really found itself in President Trump's crosshairs.

  • Despite outrage from Democrats and some Republicans on Capitol Hill, there doesn't seem to be any meaningful regulation coming toward Facebook anytime soon.
  • And as the FTC's $5 billion Cambridge Analytica fine and $170 million YouTube child privacy fine last year show, big regulatory investigations into massive tech companies can deliver record penalties yet still not change the game.

Zuckerberg’s plan is coming into focus:

  1. Don't compromise on big, essential issues: On Thursday, Facebook said it wouldn’t follow rival Google and limit micro-targeting on political ads, nor would it follow rival Snapchat and begin fact-checking them.
  2. Make some cosmetic gestures: Facebook has made some small tweaks to its policy, like allowing users to opt out of political ads or certain micro-targeting options.
  3. Engage with Trump and his campaign: To minimize White House backlash, Facebook has increased engagement with the Trump administration, including through a private dinner with the president last fall.
  4. Better explain their logic: Zuckerberg has engaged in a lot more earned media these days, sitting down with the press in the U.S. and overseas frequently. In December, he did a rare joint interview with his wife Priscilla Chan for CBS News. A memo that was leaked to the New York Times yesterday lays out a trusted lieutenant's perspective on the 2020 election. It contained some awkward passages — but also helped the company explain itself.
  5. Buy favor: Facebook has jacked up its corporate ad spending significantly in the past year, especially in expensive messages targeted toward opinion leaders and policymakers. Facebook, along with its rivals, has used record lobbying dollars to try to purchase a Washington halo.

The bottom line: Facebook's public relations nightmare is far from over, but Zuckerberg is well on his way to meeting his 2020 challenge: compromise around the edges, don't buckle on things he cares about, and keep Wall Street happy.

Go deeper:

Go deeper

Miriam Kramer, author of Space
48 mins ago - Science

Biden's military space future

Illustration: Eniola Odetunde/Axios

President-elect Joe Biden should anticipate major and minor conflicts in space from even the earliest days of his presidency.

The big picture: President Donald Trump's military and civil space policies are well-documented, but Biden's record and views on space are less clear.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Coronavirus may have been in U.S. in December 2019, study finds — Hospital crisis deepens as holiday season nears.
  2. Politics: Bipartisan group of senators unveil $908 billion COVID stimulus proposalFDA chief was called to West Wing to explain why agency hasn't moved faster on vaccine — The words that actually persuade people on the pandemic
  3. Vaccine: Moderna to file for FDA emergency use authorizationVaccinating rural America won't be easy — Being last in the vaccine queue is young people's next big COVID test.
  4. States: Cuomo orders emergency hospital protocols as New York's COVID capacity dwindles.
  5. World: European regulators to assess first COVID-19 vaccine by Dec. 29
  6. 🎧 Podcast: The state of play of the top vaccines.

Bipartisan group of senators unveils $908 billion COVID stimulus proposal

Sens. Joe Manchin (D-W.Va.) and Susan Collins (R-Maine) in the Capitol in 2018. Photo: Tom Williams/CQ Roll Call

A bipartisan group of senators on Tuesday proposed a $908 billion coronavirus stimulus package, in one of the few concrete steps toward COVID relief made by Congress in several months.

Why it matters: Recent data shows that the economic recovery is floundering as coronavirus cases surge and hospitals threaten to be overwhelmed heading into what is likely to be a grim winter.

Get Axios AM in your inbox

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!