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Mark Zuckerberg (L) and Sean Parker (R). Photos: Steven Senne/AP, Axios video

Sean Parker, the founding president of Facebook, gave me a candid insider's look at how social networks purposely hook and potentially hurt our brains.

Be smart: Parker's I-was-there account provides priceless perspective in the rising debate about the power and effects of the social networks, which now have scale and reach unknown in human history. He's worried enough that he's sounding the alarm. Parker, 38, now founder and chair of the Parker Institute for Cancer Immunotherapy, spoke yesterday at an Axios event at the National Constitution Center in Philadelphia, about accelerating cancer innovation. In the green room, Parker mentioned that he has become "something of a conscientious objector" on social media. By the time he left the stage, he jokingly said Mark Zuckerberg will probably block his account after reading this:

"When Facebook was getting going, I had these people who would come up to me and they would say, 'I'm not on social media.' And I would say, 'OK. You know, you will be.' And then they would say, 'No, no, no. I value my real-life interactions. I value the moment. I value presence. I value intimacy.' And I would say, ... 'We'll get you eventually.'""I don't know if I really understood the consequences of what I was saying, because [of] the unintended consequences of a network when it grows to a billion or 2 billion people and ... it literally changes your relationship with society, with each other ... It probably interferes with productivity in weird ways. God only knows what it's doing to our children's brains." "The thought process that went into building these applications, Facebook being the first of them, ... was all about: 'How do we consume as much of your time and conscious attention as possible?'" "And that means that we need to sort of give you a little dopamine hit every once in a while, because someone liked or commented on a photo or a post or whatever. And that's going to get you to contribute more content, and that's going to get you ... more likes and comments." "It's a social-validation feedback loop ... exactly the kind of thing that a hacker like myself would come up with, because you're exploiting a vulnerability in human psychology.""The inventors, creators — it's me, it's Mark [Zuckerberg], it's Kevin Systrom on Instagram, it's all of these people — understood this consciously. And we did it anyway." P.S. Parker, on life science allowing us to "live much longer, more productive lives": "Because I'm a billionaire, I'm going to have access to better health care so ... I'm going to be like 160 and I'm going to be part of this, like, class of immortal overlords. [Laughter] Because, you know the [Warren Buffett] expression about compound interest. ... [G]ive us billionaires an extra hundred years and you'll know what ... wealth disparity looks like."Go deeper: See the video of Parker's comments.

Go deeper: Joe Biden rips Trump's "phony nationalism".

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Go deeper

Minnesota schools "all over the board" with mask-wearing guidance

Illustration: Brendan Lynch/Axios

Minnesota and federal health officials are urging universal masking in schools this fall, but not all local districts are following suit so far.

Driving the news: The Minnesota Department of Health issued new back-to-school guidance Wednesday, encouraging mask use indoors for students and teachers regardless of vaccination status.

  • Unlike last year, the state won't mandate mask use. Decisions will be up to local districts and school boards.
Updated 39 mins ago - Sports

Olympics dashboard

Team USA's Simone Biles during the women's team final on day four of the Tokyo 2020 Olympic Games at Ariake Gymnastics Centre on Tuesday in Japan. Photo: Fred Lee/Getty Images

🤸🏾‍♀️: Simone Biles reacts to "love and support" after withdrawing from all-around gymnastics and team finals, citing her mental health

🏃: U.S. pole vaulter Sam Kendricks withdraws from Games after positive coronavirus test

🏊‍♂️: Caeleb Dressel wins gold in men's 100m freestyle —Bobby Finke wins gold in first men's Olympic 800m freestyle

📷: In photos: Tokyo Olympics day 6 highlights

🗓: The Olympic events to watch today

💵: Olympic athletes see more sponsorship opportunities

🏃‍: Female Olympians push back against double standard in uniforms

Go deeper: Full Axios coverage - Medal tracker

Felix Salmon, author of Capital
56 mins ago - Economy & Business

Giant earnings growth for the world's largest companies

Illustration: Aïda Amer/Axios

Never in the history of capitalism have the world's biggest companies grown as fast as the tech giants in recent years.

Why it matters: A series of stunning earnings reports this week — with another one likely to arrive Thursday afternoon, from Amazon — has underscored the astonishing growth among a group of companies that were already some of the most profitable of all time.