Oct 10, 2018

Report: SoftBank in talks for majority stake in WeWork

WeWork in NYC's Financial District. Photo: Michael Brochstein/SOPA Images/LightRocket via Getty Images

SoftBank is in talks to invest between $15 billion and $20 billion for a majority stake in office co-working company WeWork, according to the Wall Street Journal.

Why it matters: WeWork, which already raised $4.4 billion from SoftBank and its $93 billion fund last year, would be one of the firm's biggest investments. The move also raises questions as to why WeWork would want to cede so much control to one investor.

WeWork declined to comment.

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Sara Fischer
16 mins ago - Economy & Business

Exclusive: Facebook cracks down on political content disguised as local news

Illustration: Eniola Odetunde/Axios

Facebook is rolling out a new policy that will prevent U.S. news publishers with "direct, meaningful ties" to political groups from claiming the news exemption within its political ads authorization process, executives tell Axios.

Why it matters: Since the 2016 election, reporters and researchers have uncovered over 1,200 instances in which political groups use websites disguised as local news outlets to push their point of view to Americans.

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Ina Fried
18 mins ago - Technology

Nationalism and authoritarianism threaten the internet's universality

Illustration: Aïda Amer/Axios

Governments around the world, prompted by nationalism, authoritarianism and other forces, are threatening the notion of a single, universal computer network — long the defining characteristic of the internet.

The big picture: Most countries want the internet and the economic and cultural benefits that come with it. Increasingly, though, they want to add their own rules — the internet with an asterisk, if you will. The question is just how many local rules you can make before the network's universality disappears.

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Ben Geman
39 mins ago - Energy & Environment

The Democratic fight to shape Biden's climate policy

Illustration: Sarah Grillo/Axios

Left-wing climate activists don't want Joe Biden getting advice from people with credentials they don't like — and they're increasingly going public with their campaign.

Why it matters: Nobody is confusing Biden with President Trump, and his climate platform goes much further than anything contemplated in the Obama years.

Go deeper (1 min. read)Arrow