Apr 4, 2018

Axios PM

By Mike Allen
Mike Allen

Situational awareness: The Dow Jones Industrial Average made a remarkable recovery today, surging from 500 points down to finish up more than 200.

1 big thing: Facebook fesses up

Facebook says 87 million people may have been affected by the Cambridge Analytica scandal, a significantly higher number than the 50 million described in earlier news reports from The Guardian and New York Times.

“We didn’t take a broad enough view of what our responsibility is and that was a huge mistake."
— Facebook CEO Mark Zuckerberg on a conference call with reporters

Asked by a reporter on the conference call if he thinks he’s still the best person to lead Facebook, Zuckerberg replied: “Yes … I think life is about learning from the mistakes and figuring out what you need to do to move forward … What people should hold us accountable for is learning from the mistakes.”

What they're doing about it: The company is announcing nine changes to how it shares data in response to the data improperly shared with Cambridge Analytica. Earlier today the company updated its terms of service for first time since 2015.

Stay tuned: Zuckerberg is heading to Capitol Hill next week. He'll testify before the House Energy and Commerce Committee on April 11th.

Tweet du jour
2. What you missed
Thousands gather on the National Mall for a prayer rally to mark the 50th anniversary of Dr. Martin Luther King Jr.'s assassination. Photo: Chip Somodevilla/Getty Images
  1. An announcement on America's future military involvement in Syria will be made “relatively soon,” Director of National Intelligence Dan Coats said, per the AP. More.
  2. YouTube shooting suspect Nasim Najafi Aghdam went to a gun range shortly before going to the company's headquarters, San Bruno police said today. They believe Aghdam was motivated by her anger toward YouTube for limiting access to her videos. Details.
  3. The U.S.-China tariffs war will cost 190,000 American jobs thus far and shave a smidgen of GDP growth from the economy, projects Mark Zandi, chief economist at Moody's Analytics. Go deeper.
  4. Larry Kudlow said the economic standoff between U.S. and China is "absolutely not" a trade war, adding that people should "blame China, not President Trump." Video.
  5. New White House email buzz: Of the 26 email domains managed by the Executive Office of the President, 18 are not in compliance with a DHS directive to implement a security protocol that verifies the emails as genuinely from the White House. Details.
3. 1 fun thing

A new Elvis TV documentary is coming later this month on HBO, the A.P.'s Kristin M. Hall reports:

  • “'Elvis Presley: The Searcher,' a two-part, three-hour documentary, will premiere April 14 on HBO."
  • "Director Thom Zimny, who worked on several Bruce Springsteen documentaries, had full access to Graceland’s vault and made ample use of it to unearth little-seen footage."
  • "Along with his family and friends, Zimny interviewed studio musicians, producers, engineers and directors, as well as artists like Springsteen, Tom Petty and Emmylou Harris. Zimny uses only voiceovers for the narration instead of seeing the interviewees’ faces to keep the focus on the music and footage of Elvis over his career."
Mike Allen