January 25, 2023
Good Wednesday afternoon! Today's PM — edited by Erica Pandey — is 572 words, a 2-min. read. Thanks to Sheryl Miller for the copy edit.
1 big thing — Exclusive: Facebook to reinstate Trump
Meta will reinstate former President Trump's Facebook and Instagram accounts "in coming weeks" following a two-year suspension, according to Nick Clegg, the company's president, global affairs, Axios' Sara Fischer and Mike Allen report.
- Why it matters: The decision sets a new precedent for how the company treats world leaders, and it could change the trajectory of the 2024 U.S. presidential election.
The big picture: The reinstatement of Trump's accounts will allow him to run ads via his Facebook and Instagram pages, which have 34 million and 23 million followers, respectively.
- Trump relied heavily on Facebook ads in previous election cycles for fundraising and list-building.
"We've always believed that Americans should be able to hear from the people who want to lead the country," Clegg told Axios. "We don't want to stand in the way of that."
- Reality check: Trump will be subject to new rules that could restrict his accounts — including his ability to run ads — should he violate Meta's policies in the future.
Flashback: Facebook, along with Twitter and many other social media platforms, barred Trump soon after the Jan. 6 attack on the U.S. Capitol for breaking their rules and over fears of further incitements to violence.
- Under Elon Musk, Twitter has also reinstated Trump's account, but he has not posted yet, continuing to rely on his account at Truth Social instead.
- Clegg said Meta did not speak with Trump or any of his associates leading up to the decision being made and has no insight as to whether he plans to use his accounts once reinstated.
2. 📈 Fertility funding frenzy
Money is flowing into fertility technology startups, with venture funding surpassing $850 million in 2022 as demand climbs, Axios Pro reporter Erin Brodwin writes.
- Why it matters: Increasing demand for fertility services is not being met with increasing access, and so tech-forward companies strive to fill the gap.
- The economics of infertility treatments remain heavily opaque, and insurance coverage varies dramatically by state and provider.
- The industry's inequities disproportionately impact LGBTQ people, low-income people and people of color.
- The end of Roe v. Wade has enabled states to pursue reproductive health legislation that can create challenges for patients and providers in states including Arizona, Florida, Louisiana and Tennessee.
3. Catch up quick
- 🪖 The U.S. will send battle tanks to Ukraine after pressure from NATO allies and Ukraine to supply the advanced armored vehicles. Go deeper.
- 🛻 Ford has the best assisted-driving system, based on the latest road-testing by Consumer Reports, while Tesla's once-industry-leading Autopilot technology fell to the middle of the pack. Go deeper.
- 🌧 Recent California flooding and severe weather led to $5 billion to $7 billion in total U.S. economic losses, according to new estimates from Moody’s. Go deeper.
4. 🍟 Delicious wall art
Congratulations to Erin Davis, a visual journalist at Axios, who got the top prize on Reddit's embroidery forum's 2022 awards for her piece "Ten piece chicken wings with fries."
- Erin picked up embroidery during the pandemic. "The process is really meditative, and I get in a lot of podcasts while doing it."
- On her scrumptious choice: "I generally love the juxtaposition of traditional embroidery and unusual subjects."