Facebook stock was up nearly 4% in after-hours trading on Wednesday after the tech giant reported that it beat Wall Street expectations on earnings per share and revenue.
Why it matters: The company has been warning for several quarters that ad growth (where nearly all of its revenue comes from) is expected to slow late this year due to saturation in its main News Feed. As a result, Facebook has been investing more in monetizing its "Stories" feature on both its main app and Instagram.
Amazon is losing billions of dollars as it expands free, fast shipping. Still, the company keeps doubling down and debuting two-hour grocery delivery at zero cost to Prime members in new markets.
The big picture: The American food market is worth a whopping $700 billion, but that's not why Amazon is chasing it. Consumers shop for food more frequently than anything else, and Amazon is betting that getting people to visit its site whenever they need groceries will turn them into loyal, lucrative customers.
Apple delivered a generally positive earnings report on Wednesday, with CEO Tim Cook telling Reuters that iPhone 11 sales are off to a "very, very good start."
Why it matters: The iPhone is the bulk of Apple's business and critical to driving demand for its other products.
Twitter CEO Jack Dorsey said Wednesday in a series of tweets that the tech giant will no longer accept political or advocacy advertising of any kind on its platform.
Why it matters: Tech companies have come under fire as of late for policies around how they police political ads. Facebook, most notably, has been criticized for saying that the company would not fact-check ads from political candidates or politicians.
Parking garages aren’t just low-tech eyesores — they might be urban America’s greatest real estate development opportunity. Dan digs in with Axios Cities editor Kim Hart.
Samsung's first foldable-screen smartphone may be something of a novelty, but the company demonstrated Tuesday that it plans to keep going until such devices are mainstream.
Why it matters: There's a lot of interest in foldable devices from hardware makers eager to shake up a sluggish smartphone market, but the early products have been pricey and delicate.
Facebook filed a lawsuit on Tuesday against a controversial Israeli private surveillance contractor, NSO Group, for allegedly providing the tools that governments used to try to hack 1,400 cellphones and mobile devices through Facebook's WhatsApp platform.
The big picture: Intelligence groups and law enforcement agencies contract NSO Group to provide spyware that governments can use to surveil the cellphones of perceived threats. While the spyware is intended to track terrorists and criminals, in practice authoritarian regimes often use it to target activists, dissidents, journalists and opposition political figures.
Uber is the latest tech company to push into payments, joining Silicon Valley giants like Apple, Facebook and Google. Dan digs in with The Verge's Andrew Hawkins.
Piggybacking off of the success of its daily Snapchat series "Stay Tuned," NBC News is launching another Snapchat show called "Stay Tuned Answers" with the same hosts, twice per week, sources tell Axios.
The big picture: NBC News execs have been vocal critics of Facebook — even though they're joining the Facebook News Tab — but have found lots of success in Snapchat.
Tech industry workers create powerful tools that amplify users' voices. Now they're getting vocal about how those tools are used — and employers are wondering whether there's such a thing as too much voice.
Why it matters: Tech workers are often echoing concerns that have already stirred in the rest of society — or are about to do so.
With this week's wildfires, Google is using the power of two U.S. satellites to provide a clearer and more quickly updated view of how the blazes are spreading.
Why it matters: Official information can often be hard to find and presented in less than straightforward ways, especially for those trying to quickly assess their situation in an emergency.
Lyft is dialing up its battle against rival Uber for customers’ loyalty with a new monthly subscription option called Lyft Pink that includes discounts on rides, free bike and scooter rides, and other perks.
Why it matters: Now that both ride-hailing companies are publicly traded, they need more than ever to boost their growth and margins and rein in losses, as investors demand a clearer path to profitability.
Republican Sen. Josh Hawley plans to spotlight risks to consumer data posed by foreign governments and cyberattacks in a hearing next month, amid rising concerns about Chinese social media firm TikTok.
Driving the news: Hawley, who chairs the Senate Judiciary crime and terrorism subcommittee, will explore security concerns raised by social platforms that collect vast amounts of user data in a Nov. 5 hearing called “How Corporations and Big Tech Leave Our Data Exposed to Criminals, China, and Other Bad Actors,” according to his office.
