☕️ Good Thursday morning from L.A. ... 26 days until midterms.
Illustration: Sarah Grillo/Axios
The race to own the future of TV is intensifying, with mobile and streaming video companies looking to build or expand video services that will launch by next year, Axios' Sara Fischer reports.
By the numbers: Over 60% of young adults in the U.S. say the primary way they watch television now is via streaming services on the internet, according to a Pew Research Center survey.
Be smart: Traditional TV is not being replaced by one medium, but by a combination of video services across the internet, most of which can be separated into two buckets: mobile video and subscription video on demand (SVOD).
Quibi (short for "quick bites") was revealed yesterday at Vanity Fair's New Establishment Summit as the name of the highly-anticipated mobile video startup by Jeffrey Katzenberg and Meg Whitman.
The takeaway: None of these companies that are looking to own the future of television are TV networks, and only a few are telecom companies. Technology companies are mostly the ones looking to upend the traditional TV landscape.
"Democrats have extended lessons learned from Bernie Sanders’ presidential campaign, ... harnessing hundreds of thousands of energized small donors nationwide and innovations in digital fundraising to shatter fund-raising records," the L.A. Times' Evan Halper reports:
The big picture: "American politics hasn’t previously seen this level of fundraising engagement from small donors."
The twist: "The money is going to candidates whom donors often know little about. But they trust the progressive groups raising the funds."
Illustration: Rebecca Zisser/Axios
With student debt stopping a huge swath of Americans from buying starter homes, some big employers are starting assistance programs that experts say could become as ubiquitous as 401(k)s or health care, Axios' Erica Pandey reports.
Right now only about 4% of companies offer student debt assistance. But in today's tight labor market, they're finding that the perk attracts young talent.
Sunset yesterday at Shell Point Beach in Crawfordville, Fla. (Mark Wallheiser/Getty Images)
"The most powerful hurricane on record to hit Florida’s Panhandle left wide destruction and at least two people dead and wasn’t nearly finished ... as it crossed Georgia, now as a tropical storm, toward the Carolinas, ... still reeling from epic flooding by Hurricane Florence," AP reports.
Axios science editor Andrew Freedman tells me:
U.S. intelligence intercepts show that the crown prince of Saudi Arabia, Mohammed bin Salman, ordered an operation to lure Washington Post columnist Jamal Khashoggi back to Saudi Arabia from his home in Virginia and then detain him," reports The Post's Shane Harris.
N.Y. Times: "A Turkish newspaper close to the government has published a list of 15 men it says formed a hit squad of Saudi government agents the Turks suspect of killing and dismembering [Khashoggi] inside the Saudi Consulate in Istanbul."
"California is ... now the fifth largest economy in the world after surpassing the United Kingdom in total output this year," the N.Y. Times' Adam Nagourney, Natalie Kitroeff and Tim Arango write from L.A.:
The Golden State "may be facing a financial reckoning at the very moment that Jerry Brown is stepping down as governor: a possible recession coinciding with deepening concerns about its fiscal stability."
Why it matters: "California is now on the verge of putting one of the world’s largest economies in the hands of a relatively untested governor."
N.Y. Times Quote of the Day ... John Cox, California's Republican candidate for governor:
The Dow industrials lost 832 points (3%), the third-worst point decline in history.
Be smart: "Investors turned to shares deemed likely to do better in tougher economic times, such as utilities companies. That rotation out of tech and other growth stocks has been sparked in part by the recent jump in government bond yields and the Federal Reserve’s interest rate increases."
The best-read story in the West Wing yesterday, by far, was Olivia Nuzzi's instant classic for New York Magazine, "My Private Oval Office Press Conference With Donald Trump, Mike Pence, John Kelly, and Mike Pompeo":
N.Y. Times Op-Ed columnist David Leonhardt tells me about "The Argument," a new weekly opinion podcast that debuts today, featuring a trio of Times columnists: David, Ross Douthat and Michelle Goldberg.
Kanye West, who is to have lunch with President Trump and see Jared Kushner today, and Taylor Swift have pulled opposing political 180s, seemingly swapping factions of their fanbases, USA Today writes.
As the L.A. Times puts it: An urban rapper talks up Trump, "while a country-rooted pop star advises Middle America to vote blue."