The Guardian's Olivia Solon in S.F. ... "Has the tech bubble peaked? Signs that the startup boom may be fizzling: Startups are beginning to run out of money":

  • "A stream of 'down rounds' – when a company raises funds by selling shares that are valued lower than the last time they raised funds, leading its overall valuation to fall – has led investors to be more discerning. CB Insights has tracked more than 100 of these down rounds and exits since 2015, including software company Zenefits, mobile app Foursquare and online music streaming service Rdio. 'It used to be that 95% of [investment] rounds were up, now 20% are down.'"
  • "Then there are the so-called 'decacorns' – unicorn startups valued at tens of billions of dollars – such as Airbnb, Uber and Palantir – which some believe are overvalued, but it's hard to tell until they go public and are forced to reveal details of their underlying finances."

"Evan Spiegel has lost $2 billion since Snapchat's post-I.P.O. peak: Snap stock falls, Spiegel's massive fortune is slowly evaporating." (Vanity Fair Hive's Maya Kosoff)

Go deeper

The silver linings of online school

Illustration: Annelise Capossela/Axios

Online learning can be frustrating for students, teachers and parents, but some methods are working.

The big picture: Just as companies are using this era of telework to try new things, some principals, teachers and education startups are treating remote learning as a period of experimentation, too.

Updated 10 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9:45 p.m. ET: 19,282,972 — Total deaths: 718,851 — Total recoveries — 11,671,491Map.
  2. U.S.: Total confirmed cases as of 9:45 p.m. ET: 4,937,441 — Total deaths: 161,248 — Total recoveries: 1,623,870 — Total tests: 60,415,558Map.
  3. Politics: Trump says he's prepared to sign executive orders on coronavirus aid.
  4. Education: Cuomo says all New York schools can reopen for in-person learning.
  5. Public health: Surgeon general urges flu shots to prevent "double whammy" with coronavirus — Massachusetts pauses reopening after uptick in coronavirus cases.
  6. World: Africa records over 1 million coronavirus cases — Gates Foundation puts $150 million behind coronavirus vaccine production.

Warren and Clinton to speak on same night of Democratic convention

(Photos: Abdulhamid Hosbas/Anadolu Agency via Getty Images, Sean Rayford/Getty Images)

Sen. Elizabeth Warren and Hillary Clinton both are slated to speak on the Wednesday of the Democratic convention — Aug. 19 — four sources familiar with the planning told Axios.

Why it matters: That's the same night Joe Biden's running mate (to be revealed next week) will address the nation. Clinton and Warren represent two of the most influential wise-women of Democratic politics with the potential to turn out millions of establishment and progressive voters in November.