Spotify

Obamas sign podcast production deal with Spotify

Barack and Michelle Obama smiling, with Michelle clapping and Barack waving.
Photo: Jim Young/AFP/Getty Images

Barack and Michelle Obama have signed an exclusive deal with Spotify to produce a series of podcasts, Variety reports.

Why it matters: Politicians are increasingly turning to streaming media, like Netflix, as a way to reach the younger audience that uses those platforms, according to Axios' Sara Fischer. The Obamas signed a similar multi-year production deal with Netflix last year.

Direct listings challenge benefits of traditional IPOs for unicorns

Photo: Eric Baradat/AFP/Getty Images

This year's rush of unicorns to the public market is challenging many long-held notions about the stock market, perhaps most notably the idea that companies need pricey investment bankers and other well-paid middlemen to go public.

Why it matters: With a historically low number of companies going public in recent years, investment banks are relying on big deals from billion-dollar companies like Uber, Zoom and Lyft to make their money.