Sign up for our daily briefing

Make your busy days simpler with the Axios AM and PM newsletters. 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!

Catch up on the day's biggest business stories

Subscribe to the Axios Closer newsletter for insights into the day’s business news and trends and why they matter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

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 the Axios Sports newsletter. 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 the Axios Des Moines newsletter.

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 the Axios Tampa Bay newsletter.

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!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sign up for Axios NW Arkansas

Stay up-to-date on the most important and interesting stories affecting NW Arkansas, authored by local reporters

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top DC news?

Get a daily digest of the most important stories affecting your hometown with the Axios DC newsletter.

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!

Illustration: Eniola Odetunde/Axios

A campaign to recall California Gov. Gavin Newson (D) is splitting some of Silicon Valley's biggest venture capitalists.

Driving the news: Famed investor and San Francisco political player Ron Conway, along with 74 other tech and business leaders, have signed an open letter urging Californians to oppose the recall of the governor.

  • Newsom, they argue, has been making strides in leading the state through the pandemic, and a recall campaign would significantly distract him from continuing to manage the pandemic and recovery.
  • Other signatories include: Laurene Powell Jobs, Eric Schmidt, Reid Hoffman, Sean Parker, Jeff and Erica Lawson, Joe Gebbia, Evan Williams, Zachary Bogue and Marissa Mayer, Jessica Livingston, and Paul Graham.
  • The letter comes a couple of months after other prominent investors began donating and publicly backing efforts to recall Newsom. The earlier letter also cited his handling of the pandemic, including stronger restrictions than many other states and a vaccine rollout that got off on a slow start. One investor, Chamath Palihapitiya, even briefly flirted with challenging Newsom in the race.

What they're saying:

"I took the lead along with other tech leaders to rally opposition to a recall because a distracting recall election is the last thing our state needs right now. Governor Newsom has made tough decisions to lead us through the pandemic, and we're finally starting to see the light at the end of the tunnel. The vast majority of people in the tech community agree: replacing Governor Newsom with a Trump Republican, which is what this recall effort is really all about, would reverse our progress against COVID and would be bad for California."
— Ron Conway

The big picture: Some of the objections in recent months from investors and techies moving to cities like Austin and Miami are actually a rejection of California's Democratic-driven policies and politics.

  • With remote work becoming more widely accepted by companies and investors, some are arguing the state's relatively high taxes and what they view as anti-tech policies are no longer worth living in the state.

What's next: Organizers for the recall campaign say they submitted more 2.1 million signatures for verification by the March 17 deadline, though the state is not expected to release a final tally until late April.

  • The campaign will need 1.5 million verified signatures to move to the next step.

Go deeper

Mar 26, 2021 - Technology

Scoop: Trump allies target Biden picks with Big Tech ties

Former OMB director Russell Vought at CPAC. Photo: Elijah Nouvelage/Bloomberg via Getty Images

Escalating the GOP's push against Big Tech, Trump allies are targeting Biden nominees who worked for — or even advised — Apple, Amazon, Google or Facebook.

Driving the news: The Center for American Restoration, a think tank formed by Trump-era Office of Management and Budget director Russ Vought, wrote a letter to Senate Minority Leader Mitch McConnell (R-Ky.) and Republican senators Friday urging them to reject nominees with Big Tech ties.

Big Tech lobbies hard against looming antitrust bill

Illustration: Sarah Grillo/Axios

Big Tech CEOs, including Apple's Tim Cook and Google's Sundar Pichai, have been jawboning lawmakers as a Senate committee takes up a key antitrust bill Thursday.

Why it matters: The bill prompting this lobbying frenzy could upend how tech's giants do business, and tech's critics see this as a "now or never" moment for Congress to check the industry's power.

Biden stock market gets Trumped

Data: Yahoo Finance; Chart: Jared Whalen/Axios

U.S. stocks markets performed worse during the first year of Joe Biden's presidency than during the first year of Donald Trump's presidency.

By the numbers: The S&P 500 rose 19.3% between the market close before Biden's inauguration and yesterday's market close, compared to a 24.1% increase for Trump during the similar period.