🔮 It's Friday the 13th. What could go wrong?
🎬 Sunday on "Axios on HBO" (6 p.m. ET/PT): House Majority Whip James Clyburn, credited with igniting Joe Biden’s surge, tells Axios co-founder Jim VandeHei that the U.S. "could very well go the way of Germany in the 1930s."
Illustration: Aïda Amer/Axios
Every shutdown by an office, school, restaurant or store is stress-testing our ability to live life without leaving home.
The coronavirus could be the catalyst that gets firms to adopt remote work policies in far greater numbers than we see now, even after the pandemic ends. But it's not as simple as just closing offices and classrooms. Most companies and universities aren't built for the virtual world.
Some tech companies are already entirely remote, and have set up virtual water coolers — calls where employees can join to chat about topics outside of work — to recreate the social experience of an office.
Albina Pascucci, 89, in central Rome. Photo: Alessandra Tarantino/AP
The coronavirus outbreak in Italy has gotten so bad so quickly that some doctors are now forced to practice "catastrophe medicine" — determining which severely ill patients should, and should not, get care based on the resources available, Axios health care business reporter Bob Herman writes.
Where it stands: The rapid spread has forced Italian leaders to quarantine the entire country and close all shops except for pharmacies and grocery stores.
Experts say the biggest lesson for Americans is that trying to limit the virus' spread — mainly by limiting contact with potentially infected people — really is important.
The U.S. has no national plan for how to ration care if intensive care units and ventilators are all in use.
Less than 3% of CEOs of the world's largest companies are women. That's according to Fortune, whose annual Fortune Global 500 list featured just 14 female CEOs last year, Axios chief financial correspondent Felix Salmon writes.
By the numbers: The average tenure of a global CEO is now five years. So in a typical year, about 100 of the CEO slots at Fortune Global 500 companies will be filled with someone new.
Above: Speaker Pelosi and Senate Majority Leader Mitch McConnell bump elbows yesterday as they attend a lunch with Irish Prime Minister Leo Varadkar on Capitol Hill.
"In a week that brought the wildest market swings since the financial crisis, [yesterday] hammered investors with something crazier — a 10% drop in the Dow, the end of the longest bull market on record and the biggest sell-off since 1987’s Black Monday," Bloomberg reports.
Jim Paulsen, chief investment strategist at The Leuthold Group, tells Axios' Dion Rabouin: "There is no explanation for why the market is falling 5-10% a day."
The Fed has clearly gotten the message from financial markets — "OMFG!!!" — and has acted accordingly, Axios Markets editor Dion Rabouin writes.
Danielle DiMartino Booth, CEO of Quill Intelligence and a former adviser to the Dallas Fed, said yesterday's selloff shows just how limited the central bank is
Illustration: Eniola Odetunde/Axios
Tech platforms have gotten smarter about deliberate disinformation from bad actors, but the coronavirus' spread presents a different misinformation threat.
The big picture: In the coming days, the problem may get worse as the disease — and rumors — spread.
⚾ Major League Baseball's opening day had been scheduled for March 26.
🏀 March Madness, one of the biggest events in American sports, a marathon of buzzer-beaters, upsets and thrills involving 68 teams from schools big and small, was cancelled.
🏀 The NBA said its virus hiatus will likely last "at least" a month. Go deeper.
🇯🇵 Japan's Olympics minister today brushed off President Trump's suggestion the Tokyo Olympics, scheduled to begin July 24, be postponed.
The New York Times Magazine's annual Music Issue, has three cover stars for a "25 Songs That Matter Now" list:
In an opening essay, story editor Nitsuh Abebe writes:
After a long stretch during which the top tier of pop music was dominated by big stars and their earnest, millennial-friendly anthems, the last few years have seen success for some stranger, more singular, sometimes darker and very much postmillennial personalities. (Billie Eilish, who is 18, released her debut single four years ago.)
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