Axios

A seismic shift has been proposed for federal grantmaking that would fundamentally alter how billions of dollars in federal funding are awarded across the United States, with far-reaching implications for grant-supported programs, services and organizations nationwide and the communities they serve.

Two powerful earthquakes struck Venezuela about 100 miles west of Caracas on Wednesday, killing at least 164 people, injuring 971 others and causing widespread damage.

The big picture: The U.S. Geological Survey issued its highest-level alert, signaling the back-to-back magnitude 7.2 and 7.5 earthquakes were expected to cause extensive casualties and severe economic damage.

American politics, reordered and reimagined by a decade of President Trump's rise, fall and resurrection, is imploding in substantial ways.

• MAGA is splintering between Trump enthusiasts and true "America First" believers.
• Socialism is rising in popularity and clout. Democratic leaders are flailing.
• Israel is bleeding support with both parties. Pro-Palestinian politicians are winning elections.
• AI is dividing both sides of the aisle, with strong pro-worker coalitions forming among Republicans and Democrats.
• And Trump's unpopularity seems set and locked around 60%.

Why it matters: Everything is up for grabs — and wildly uncertain. House and Senate control are coin tosses in the November midterms, the 2028 presidential races are wide open, and both parties are equally despised by the electorate.

Best Buy announced Wednesday it is the exclusive national retailer for RGB LED TVs, putting the electronics chain at the center of a rollout the company calls the biggest change in TV technology in more than a decade.

Why it matters: The move gives Best Buy a rare edge in the competitive TV market and positions the retailer at the forefront of the next generation of displays.

CANNES, France — Brands hold an advantage in two areas AI hasn't mastered — consumer relationships and trust, marketing executives said at a June 23 Axios event.

Why it matters: As AI becomes a gateway for shopping, brands risk losing direct consumer connections, making trust, loyalty and first-party data more important than ever.

Axios' Sara Fischer and Kerry Flynn moderated the Expert Voices roundtable, which was sponsored by Mastercard.

5 big takeaways from the conversation:

1. Agentic commerce is in the discovery phase. The seven "wonderful, pioneering nerds who love this stuff and are figuring it out … [are] going to become a million people. But it's not going to become everybody, and not tomorrow," DoorDash chief marketing officer Tim Castree said.
2. Large language models haven't figured out customer behavior, and that's where brands still have an advantage, Ulta Beauty chief marketing officer Kelly Mahoney said. "The winner is going to be the one that understands the customer" and how to leverage their data, "that can then work with the agents."
3. Marketers can use existing data for unexpected storytelling, said Jonnie Cahill, PepsiCo Beverages' U.S. senior vice president and chief marketing officer. He cited how "'I have a headache' is leading to 'Gatorade' because the No. 1 cause of a headache is dehydration."
4. Trust isn't a logo or a tagline, said Fox News Media chief digital and marketing officer Jason Klarman: "It's a relationship that a consumer has," and "people begin to trust you if you are consistent with them and you deliver on that promise on a regular basis."
5. Companies that rely on real-life interactions can use AI to improve the experience for team members and consumers, Taco Bell global chief brand officer Taylor Montgomery said. "We thought it was going to be an efficiency play, and actually it's really helped us improve our customer experience," he added.

Content from the sponsor's remarks:

Mastercard chief marketing and communications officer Jill Kramer said the one thing she's been hearing discussed repeatedly at Cannes is agentic commerce and the questions around it.

• "Data … is your currency, it's your relationship," she said. "How do you create more of a connection and a web, so that you're getting the data cues you need from other places?"

When your high-tech car gets in a crash, the repair bill could easily top $5,000, in part because electronic sensors often need replacement or recalibration.

Why it matters: As vehicles become more software-driven, sensor accuracy is increasingly critical to safety — and it's driving up the costs and wait times of repairs.