Jul 2, 2018

Axios PM

By Mike Allen
Mike Allen

Situational awareness: Chief engineer Doug Field is leaving Tesla, one day after the company announced it'd successfully met production targets on its Model 3. He'd been on leave since May.

  • Why it matters: Field is one of several top Tesla executives who have left the company in recent months, Axios' Ben Geman notes. The turnover comes at a critical time for the automaker that's seeking to further ramp up production of the Model 3 sedan while preparing to launch new products, including an electric semi-truck.
1 big thing: Our teens aren't working

America's teens are no longer working at the rate of their parents, as the recession-driven collapse in the teen workforce has collided with new priorities for our nation's youth.

Expand chart
Reproduced from Pew Research Center; Note: "Summer" is an average of June, July, and August; Chart: Axios Visuals

The big picture... "Researchers have suggested multiple reasons why fewer young people are working," Pew's Drew Desilver reports:

  • "Fewer low-skill, entry-level jobs (such as sales clerks or office assistants) than in decades past."
  • "More schools ending in late June and restarting before Labor Day."
  • "More students enrolled in high school or college over the summer."
  • "More teens doing unpaid community service work as part of their graduation requirements or to burnish their college applications."
  • "More students taking unpaid internships, which the Bureau of Labor Statistics doesn’t count as being employed."

Where they're working: "Nearly 2.1 million of the estimated 6.2 million teens who were employed last July (33.8%) worked in 'accommodation and food services' ... compared with 1.9 million (22.6%) in July 2000."

Where they're not: "Last July, just over 1.3 million teens worked in the retail sector, compared with more than 2 million in July 2000 – a 35.3% drop. Retail accounted for 21.4% of teen summer jobs in July 2017, down from 24% in July 2000."

2. What you missed

Flowers and hand-written notes and signs are placed at a makeshift memorial outside the Annapolis Capitol Gazette offices for the five employees killed by a gunman last week. Photo: Chip Somodevilla/Getty Images

  1. President Trump says he interviewed four potential Supreme Court picks today, and will meet with two or three others before announcing his decision next Monday.
  2. It's 🔥and humid: Extreme heat and humidity will continue through the end of the holiday week across the eastern U.S. Go deeper.
  3. Michael Cohen stated that he will "put family and country first" over any allegiance to Trump in his first interview since the FBI raided his home and offices in April. Go deeper.
  4. We've also obtained some of Juul's financials, which helps explain the investor appeal behind its new valuation. 2017 revenue was around $245 million, and gross margins are 70%. Go deeper.
  5. Facebook is once again apologizing for a user privacy violation after a bug temporarily unblocked some users from interacting with users who had previously blocked them. Go deeper.
  6. Additional sexual assault charges have been filed against Harvey Weinstein by the Manhattan District Attorney, the D.A.'s office announced today.
3. 1 fun thing

The top iPhone apps of all time, according to App Annie, which noted the $42.5 billion spent in the iOS App store last year:

  • Most downloaded games: Candy Crush Saga, Subway Surfers, Fruit Ninja, Clash of Clans and Honor of Kings.
  • Top-grossing games: Clash of Clans, Candy Crush Saga, Monster Strike, Puzzles & Dragons and Honor of Kings.
  • Most downloaded apps: Facebook, Facebook Messenger, YouTube, Instagram, and WhatsApp.
  • Top-grossing apps: Netflix, Spotify, Pandora, Tencent Video and Tinder.
Mike Allen