Feb 26, 2019

Masters of Scale: Hoffman and startup seven deadly sins

Illustration: Lazaro Gamio/Axios

Long before the start of the "techlash," LinkedIn founder Reid Hoffman presciently predicted that “social networks do best when they tap into one of the seven deadly sins." In today’s episode of his own Masters of Scale podcast, Reid talks more about that philosophy.

"Part of the theory was that what gives people fabric, and meaning, and joy, and presence in life is other people. And yet, the problem is that when we live only in physical reality ... A number of people had had the thought that the internet brings with it the possibility of configuring this electronic space."

Why it matters: While Reid’s approach has had indisputable success over the past decade, times have changed since 2011 and we better understand the psychological triggers that big tech employs to manipulate its users into taking certain actions. 

The art of hooking users — once celebrated across Silicon Valley — is now viewed by some with skepticism.

Our thought bubble: Research shows that negative impacts of social media over the past few years are beginning to wear on users’ trust, which could make it harder for social networks to continue to scale. 

Go deeper: Listen to the entire episode for more of Reid’s thoughts.

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Peter Navarro defends hydroxychloroquine use in heated CNN interview

White House economic adviser Peter Navarro defended the use of anti-malarial drug hydroxychloroquine to treat coronavirus during a CNN interview Monday, highlighting "the possibility" that it has therapeutic efficacy.

Why it matters: Navarro did not deny reporting from Axios' Jonathan Swan that he got into a heated exchange in the White House Situation Room over the weekend with infectious disease expert Dr. Anthony Fauci about the drug's prospects against the illness.

Special report: Health care workers vs. coronavirus

Photo Illustration: Sarah Grillo/Axios. Photos: Angela Weiss/AFP via Getty Images, Bruce Bennett/Getty Images, and Europa Press News/Europa Press via Getty Images

Health care workers are at an especially high risk of catching the coronavirus, because of their prolonged exposure to patients who have it. Making matters worse, the U.S. doesn't have enough of the protective equipment, like masks and gloves, that keeps them safe.

  • And yet these workers, with loved ones of their own, keep showing up at hospitals across the country, knowing that more Americans than they can possibly care for are depending on them.
Go deeperArrow45 mins ago - Health

Backed by the Fed, bond investors get bullish

Illustration: Sarah Grillo/Axios

The Fed's massive injections of liquidity have reopened much of the bond market, and after back-to-back weeks in which more than $100 billion flowed out of bond funds, investors have regained their bearings and now see opportunity.

What's happening: But after the hemorrhaging outflows relented last week, bulls may now be sticking their heads out a bit too far. Junk bond funds took in more than $7 billion for the week ended April 1, according to Refinitiv Lipper, setting a new weekly record.