SaveSave story
Featured

Facebook is beating Snapchat on its own invention — stories

Facebook Stories, pictured as a bag of potato chips
Illustration: Sarah Grillo/Axios

Stories, the tap-and-swipe vertical format for sharing pictures and videos, are poised to dominate the social web's next era — and Facebook now has the lead, even though it was Snapchat that invented and popularized them.

Why it matters: Each generation of digital media brings new voices and firms to the fore. But right now, Facebook appears to have surmounted the Snapchat challenge — thanks to smart acquisitions, speedy product development, and the power of incumbency with billions of users.

Sara Fischer 2 hours ago
SaveSave story

Impatient, distracted consumers disrupt U.S. businesses

Users won't wait for content or sit through ads.
Illustration: Sarah Grillo/Axios

Americans are increasingly picky, impatient, distracted and demanding — and their media diets are changing so fast that most traditional industries can no longer keep pace. 

Why it matters: The modern consumer has completely reshaped advertising, content creation and consumption. Most media companies, advertising agencies, and telecom companies either didn't see it coming, saw it and ignored it, or acted too late.

Dave Lawler 11 hours ago
SaveSave story

Sham elections in crisis-stricken Venezuela

Police guard a polling station in Caracas, where turnout was notably low. Photo: Roman Camacho/SOPA Images/LightRocket via Getty Images

Venezuelan president Nicolas Maduro is declaring victory in Sunday's sham election — and the U.S. is responding with new sanctions.

Between the lines: Turnout plummeted to 46% from about 80% in previous elections despite the fact that Maduro offered cash and boxes of food to those who cast ballots. That's remarkable in a country struggling through one of the world's worst economic crises. Dwindling support, a collapse in oil production and signs of dissent within the military mean Maduro could struggle to see out his new six-year term.