The America that marched for George Floyd five years ago is gone, buried beneath a backlash that has hardened — for now — into a new political and cultural order, Axios' Delano Massey, Russell Contreras and Zachary Basu write.

• Why it matters: Floyd's murder by a Minneapolis police officer shocked the national conscience. But what looked like historic momentum for racial justice has collapsed — eclipsed by a reactionary movement backed by the full force of the U.S. government.

The big picture: While the killings of Breonna Taylor and Ahmaud Arbery stirred anger and protests in early 2020, it was Floyd's murder on May 25 — captured on camera and seen around the world — that ignited a global uprising.

• Statues toppled. Streets filled. Cities pledged reforms. Fortune 500 companies embraced diversity initiatives.
• For a moment, it felt like transformative change was coming.

Five years later, the pendulum has swung hard in the opposite direction.

• DEI: On his first day in office, President Trump ordered a government-wide purge of DEI programs and offices.
• Civil rights: The Trump administration has moved aggressively to unravel President Lyndon Johnson's civil rights legacy, including by reorienting DOJ priorities to focus on "anti-white racism."
• History: Trump ordered a federal review of Confederate monuments toppled during the 2020 protests.
• Police reform: Days before the anniversary of Floyd's murder, the Justice Department scrapped proposed consent decrees for the Minneapolis and Louisville police departments — and dropped nearly a dozen other investigations into alleged police abuse.
• Refugee policy: The administration has effectively ended most refugee programs, except for one tailored to white South African farmers.

🔭 Zoom out: The racial justice backlash hasn't been confined to government.

• Major corporations that once championed diversity initiatives have slashed DEI staff, removed racial equity language from mission statements, and dropped even the appearance of activism.
• Open racism, antisemitism, and white nationalism have flourished online, with viral incidents fueling toxic tribalism and fundraising.
• Prominent MAGA influencers have launched a campaign to convince Trump to pardon Derek Chauvin, the police officer convicted of murdering Floyd.

The other side: Civil rights groups such as the Southern Poverty Law Center, Urban League and NAACP are investing in long-term infrastructure.

• "Progress isn't a straight line. It swings like a pendulum," NAACP president Derrick Johnson told Axios.
• "And for some people, especially younger folks, it can feel like we're going backward. But the truth is we're still perfecting democracy, and the Black community has always been at the center of that work."

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President Trump's decision to prevent international students from studying at Harvard could hurt America's economy by reducing the number of startup founders, Axios' Dan Primack writes.

• Why it matters: Trump is aiming at Harvard, but buckshot may hit the innovation engine that America needs to stay ahead of China.

🧮 By the numbers: Around 44% of U.S. unicorn companies — startups valued at $1 billion or more — are founded or cofounded by immigrants.

• Some of them moved to the U.S. as children, but many came for school, then stayed to build their businesses.
• An Axios analysis shows that around two dozen U.S. unicorns were founded or cofounded by international students who studied at Harvard. Under Trump's rule, none of them would have been allowed to enroll.
• Among those unicorns are payments giant Stripe, cybersecurity firm CloudFlare, crypto brokerage FalconX and generative AI startup Writer.

🔬 Zoom in: Harvard ranks as one of America's top schools for educating startup founders, ranking third for undergrads, second for grad students, and first for MBAs, according to PitchBook.

The big picture: Harvard is just one U.S. university out of thousands, but it has an outsized global reputation.

• Trump's move could discourage other foreign students from coming here at all, particularly after Homeland Security Secretary Kristi Noem told Fox News that the Harvard halt "should be a warning to every other university."

For the more than 6,000 current Harvard students, some may seek to transfer — although it could be quite onerous, particularly for those in the midst of scientific graduate degrees that are tied to specific professors.

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Google's newest AI video generator, Veo 3, generates clips that most users online can't seem to distinguish from those made by humans, Axios' Megan Morrone writes.

• Why it matters: Veo 3 videos shared online are amazing viewers with their realism — and also terrifying them with a sense that real and fake have become hopelessly blurred.

Unlike OpenAI's video generator Sora, released more widely last December, Google DeepMind's Veo 3 can include dialogue, soundtracks and sound effects.

• The model excels at following complex prompts and translating detailed descriptions into realistic videos.
• The AI engine abides by real-world physics, offers accurate lip-synching, rarely breaks continuity and generates people with lifelike human features, including five fingers per hand — something that trips up other models.
• According to examples shared by Google and from users online, the telltale signs of synthetic content are mostly absent.

🎥 Between the lines: In one viral example posted on X, filmmaker and molecular biologist Hashem Al-Ghaili shows a series of short films of AI-generated actors railing against their AI creators and prompts.

• The tool could also be useful for more commercial marketing and media work, AI analyst Ethan Mollick writes.

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President Trump hosted a highly anticipated "exclusive" dinner for the largest holders of his meme coin at his golf club in Sterling, Va., last night, Axios Crypto author Brady Dale writes.

• Why it matters: A company linked to President Trump's family sold a digital token that gave anyone in the world a chance to pay for a night of access to the commander-in-chief.

Inca Digital, a data intelligence firm, estimates that the top 220 holders of the token collectively spent more than $140 million to ensure they got a spot in the celebration.

• Some 220 of the biggest investors in the $TRUMP meme coin dined on filet mignon, pan-seared halibut and "Trump organic field green salad." According to participants' social-media posts, Trump spoke for about half an hour from a lectern adorned with the presidential seal — before dancing to "YMCA." (AP/NYT)

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The man accused of fatally shooting two Israeli Embassy staffers outside the Capital Jewish Museum in D.C. on Wednesday was charged with two counts of first-degree murder, Axios' Sareen Habeshian writes.

• Elias Rodriguez, 31, is also facing federal charges that include murder of foreign officials, causing the death of a person through the use of a firearm, and discharge of a firearm during a crime.

The killings of Yaron Lischinsky and Sarah Milgrim — a couple that was set to become engaged — are being investigated as a hate crime and a crime of terrorism, interim U.S. attorney Jeanine Pirro said yesterday.

• Pirro called it "a death penalty-eligible case" but said it's "far too early" to determine whether prosecutors will pursue a capital case.
• An FBI affidavit says Rodriguez told police after his arrest: "I did it for Palestine, I did it for Gaza."

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Facing a revolt from Miami Republicans, President Trump salvaged his giant spending plan in Congress late Wednesday by ensuring the death of a Chevron oil deal in Venezuela that the lawmakers lividly opposed, Axios' Marc Caputo writes.

• Why it matters: Trump's decision was a matter of political necessity and a nod to his secretary of state, Marco Rubio — a longtime critic of Nicolas Maduro's socialist dictatorship in Venezuela and Chevron's oil export license that helps enrich the regime.

Trump's move also offered a window into the last-minute dealmaking that saved his priority legislation in the House.

• "Ultimately, he trusts Marco," a senior White House official said of the president.

👀 The intrigue: The decision marked an abrupt reversal of Trump's special Venezuela envoy, Ric Grenell.

• As a special envoy, Grenell wants to engage with Maduro.
• As secretary of state, Rubio wants to enforce policies on Venezuela set in Trump's first term.

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The upper bound of "middle class" in America is often pegged at an annual income of between $150,000 and $250,000 — but looking at legislation being drawn up by Republicans in Congress, it seems to be much, much higher, Axios' Felix Salmon writes.

• The "big, beautiful bill" that the House passed yesterday would allow state and local tax deductions of as much as $40,000 for people making up to $500,000 — a sign that some blue-state Republicans consider $500,000 to be a middle-class income.
• President Trump considers an annual income of $1 million too modest to justify higher income taxes, but is fine with the idea once household income reaches $2.5 million.

💡 Where it stands: To be in the top 10% of individual earners, a U.S. worker has to earn $150,000 per year, according to the Bureau of Labor Statistics.

• To be in the top 10% of households, you had to earn $235,000.

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The "No Mow May" movement — driven by both environmentally conscious and housework-hating homeowners — has expanded to "Let It Bloom June" and the fall version: "Leave the leaves," AP reports.

• Why it matters: No Mow May encourages homeowners to stash the lawn mower each spring and let flowers and grass grow.

Conservation and horticulture groups say year-round low-mowing while selectively leaving native plants to grow can save huge amounts of drinking water and lead to lasting and impactful ecological changes.

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