☕️ Good Thursday morning ...
Illustration: Axios Visuals
The decision by Damian Collins, a British lawmaker, to publish highly sensitive, unredacted internal Facebook emails is aggressive, uncompromising, and further intensifies the European battleground — an arena where Facebook has little to no political support.
Facebook was already facing a formidable threat in the form of Margrethe Vestager, the EU's competition commissioner.
Internally, Facebook considers itself to be a business, acting as businesses do. Mark Zuckerberg's defense, in large part, boils down to "Running a development platform is expensive," in a world where Facebook needs to make money.
There's a fundamental difference in how regulators view monopolies (and duopolies) on either side of Atlantic.
The bottom line: Zuckerberg has made an enemy of European lawmakers, who have a fearsome arsenal.
The Facebook documents released by a British lawmaker yesterday portray the company as a ruthless corporate giant that will do whatever it takes to squeeze out competitors and increase user engagement with its products, Axios' Sara Fischer reports.
Be smart: While the documents give important context into how Facebook executives operate and make decisions, it's unclear whether they expose any illegal practices.
What we learned from the docs:
From Mark Zuckerberg's Facebook page:
Illustration: Sarah Grillo/Axios
"It’s the Worst Time to Make Money in Markets Since 1972," Bloomberg's Elena Popina writes:
"Goldman Sees Another Weak Year After a Lousy 2018," per Bloomberg's Chris Anstey:
Breaking: "Stock markets around the world fell sharply [today], with the arrest of a high-profile Chinese executive in Canada rattling hopes for thawing U.S.-China trade relations, while energy prices resumed their steep drops." (WSJ)
"The locomotive was painted to resemble Air Force One ... 'I might have left Air Force One behind,' [former President George H.W.] Bush quipped during the 2005 unveiling of 4141, a blue and gray locomotive," AP's Will Weissert writes.
"The train's sixth car, a converted baggage hauler called 'Council Bluffs,' has been fitted with transparent sides to allow mourners lining the tracks on Thursday views of Bush's flag draped coffin."
"Union Pacific originally commissioned the Bush locomotive for the opening of an exhibit at his presidential library titled 'Trains: Tracks of the Iron Horse.'"
"Union Pacific was contacted by federal officials in early 2009 and asked, at Bush's request, about providing a funeral train."
Sentence of the week ... Susan Glasser's opening line of her New Yorker column:
The remains of President George H.W. Bush touch down at Ellington Field in Houston, Texas.
Below, former president George W. Bush (with Laura Bush behind him) reaches across President Trump, First Lady Melania Trump and President Barack Obama to greet Michelle Obama. That's Rosalynn Carter on the end.
"[N]one of that kept him from the leveling end that awaits even the most vigorous and clever wielders of power."
Today's meeting of tech CEOs at the White House is expected to be civil — a far cry from the contentious early days of the Trump administration, David McCabe and Ina Fried report:
The administration’s policy apparatus has handed the industry wins on some key issues — even if the president still fires off critical tweets.
Much has shifted since last year’s meeting, where Apple CEO Tim Cook told Trump to put “more heart” into the immigration debate and some CEOs looked so pained to be with Trump:
Our thought bubble: This relationship has proven especially fraught because of the divide between the White House and many people in tech on issues like climate change and immigration.
The Bloomberg 50 "lists the icons and innovators who've changed the global business landscape in measurable ways over the past year." Here are the politics honorees:
"It's the color of underwater reefs hanging on for dear life. The sky at dusk. Some of the latest iPhones and the latest looks on the runways of Marc Jacobs and other top fashion designers. Living Coral has been chosen by the Pantone Color Institute as its 2019 color of the year," AP's Leanne Italie writes: