Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Facebook Chief Operating Officer Sheryl Sandberg. Photo: Alex Brandon / AP

Facebook COO Sheryl Sandberg will be interviewed by Axios' Mike Allen this Thursday at 9 a.m. in Washington. We'll livestream it on our site and on Facebook.

Why it matters: This will be the first public interview of a senior Facebook executive since revelations about Russian-backed groups buying Facebook ads to sway the election and it comes among growing in interest in Congress in the role big tech companies played.

Sound smart: This event is another in a long string of moves Facebook has made in the past month — from hiring political consulting firms, to public pleas for forgiveness, to taking out full-page newspaper ads — to reach lawmakers and political influencers in response to the Russia news. The company clearly thinks they have a major problem on their hands.

Some context going into the interview:

  • Wall Street isn't fazed by the Russia controversy: If you look at Facebook's financials, you would know have no idea they're going through a political crisis. Facebook's stock is at all-time highs. And perhaps that's because ...
  • Facebook's advertising business is doing surprisingly well: Facebook has been warning investors for months to expect ad revenue to "come down meaningfully" as ad load slowed in the News Feed. But they've continued to experience record advertising revenue growth, particularly off of users in North America — (more below). Aside from political advertisers that are frustrated with new manual review changes, many ad buyers tell Axios that Facebook is still a top advertising destination because of its effectiveness.
  • Capitol Hill is nowhere near passing anything significant that would affect big tech: Per Axios' David McCabe: Two Democrats are working on a bill that would place new disclosure requirements on digital political advertising. It's expected to be released in the near future but hasn't yet attracted a Republican co-sponsor. And even broader regulation hasn't gained traction yet. So focus your attention on...
  • Facebook's planned testimony before Congressional investigators: Per Axios' David McCabe: The company hasn't appeared before Congress in years, let alone over something as contentious as possible election meddling by a foreign power. They haven't announced a witness (or witnesses) for the House and Senate intelligence committee hearings that are both taking place on November 1 but whoever gets the assignment will face tough questions from lawmakers.

So far, Facebook's response has been changes to the way political/advocacy ads are bought and publicized on the platform, but political ads are a tiny fraction of Facebook's overall advertising business.

"Political spending even within the U.S. alone was not a top 10 (advertising) vertical for us," — Sandberg to investors on an earnings call in February.

Go deeper

Caitlin Owens, author of Vitals
2 hours ago - Health

Pfizer CEO feels "liberated" after taking COVID vaccine

Pfizer CEO Albert Bourla. Photo: "Axios on HBO"

Pfizer CEO Albert Bourla tells "Axios on HBO" that he recently received his first of two doses of the company's coronavirus vaccine.

Why it matters: Bourla told CNBC in December that company polling found that one of the most effective ways to increase confidence in the vaccine was to have the CEO take it.

Dan Primack, author of Pro Rata
2 hours ago - Economy & Business

Ripple CEO: SEC lawsuit is "bad for crypto" in the U.S.

Ripple CEO Brad Garlinghouse tells "Axios on HBO" that if his company loses a lawsuit brought by U.S. regulators, it would put the country at a competitive disadvantage when it comes to cryptocurrencies.

Between the lines: The SEC in December sued Ripple, and Garlinghouse personally, for allegedly selling over $1.3 billion in unregistered securities. Ripple's response is that its cryptocurrency, called XRP, didn't require registration because it's an asset rather than a security.

Caitlin Owens, author of Vitals
2 hours ago - Health

Pfizer CEO: "It will be terrible" if COVID-19 vaccine prices limit access

Pfizer CEO Albert Bourla told "Axios on HBO" that it "will be terrible for society" if the price of coronavirus vaccines ever prohibits some people from taking them.

Why it matters: Widespread uptake of the vaccine — which might require annual booster shots — will reduce the risk of the virus continuing to spread and mutate, but it's unclear who will pay for future shots or how much they'll cost.