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!

Illustration: Sarah Grillo/Axios

Tesla is riding high these days, but two developments could create reputational risks for the world's most valuable car company.

Driving the news: Tesla is beginning to face criticism over the climate effects of its big new investment in bitcoin and the decision to accept it as payment — even though electric vehicles are lower-CO2 alternatives to gasoline vehicles.

Why it matters: Bitcoin "mining" to process transactions is very energy-intensive, so promotion of its use could add to its carbon footprint.

What they're saying: Ben Dear, CEO of the sustainable investment firm Osmosis Investment Management, tells Reuters: “We are of course very concerned about the level of carbon dioxide emissions generated from bitcoin mining.”

  • He said Tesla should disclose energy consumption associated with its bitcoin ventures.
  • More broadly, some analysts see Tesla's decision to accept bitcoin as potentially widening its use in transactions more broadly.
  • Reuters says Tesla's bitcoin backing could "turbo-charge global use of a currency."
  • The Verge is also reporting on the climate angle.

Driving the news, part 2: New research from Edmunds finds that five Tesla models they tested showed less range per charge than the vehicles' EPA estimates.

  • The analysis, which Edmunds notes is designed as a "real-world complement to the EPA's laboratory-based process," found the vehicles had 2.5%-17.4% less range.
  • The one with 17.4% less was a 2018 Model 3 Performance edition, which had 256 miles of range instead of 310 in the EPA estimate.

But, but, but: Tesla still had two of the five longest-range vehicles among the 15 models Edmunds tested.

  • The biggest difference between the EPA and Edmunds findings was with the 2020 Porsche Taycan 4S, which went 59% further in the Edmunds test at 323 miles.

Of note: Gasoline-powered vehicles can also underperform their EPA estimates, and in general, mileage and range are influenced by all sorts of conditions and driving styles.

The bottom line: Tesla's on a good run, having become consistently profitable. But the EV market is getting more competitive, so these topics are worth keeping an eye on.

Go deeper

Felix Salmon, author of Capital
Feb 11, 2021 - Economy & Business

Memes as economic stimulus

Illustration: Sarah Grillo/Axios

The current stratospheric levels of cryptocurrencies in general, and Dogecoin in particular, can make it a lot easier to spend money.

Driving the news: Another part of the thinking behind the Tesla cryptocurrency announcement is that for someone sitting on a lot of bitcoin, it's psychologically easier to transfer a single bitcoin to Tesla than it would be to try to write a check for $40,000.

Mike Allen, author of AM
4 hours ago - Politics & Policy

Biden adviser Cedric Richmond sees first-term progress on reparations

Illustration: "Axios on HBO"

White House senior adviser Cedric Richmond told "Axios on HBO" that it's "doable" for President Biden to make first-term progress on breaking down barriers for people of color, while Congress studies reparations for slavery.

Why it matters: Biden said on the campaign trail that he supports creation of a commission to study and develop proposals for reparations — direct payments for African-Americans.

Cyber CEO: Next war will hit regular Americans online

Any future real-world conflict between the United States and an adversary like China or Russia will have direct impacts on regular Americans because of the risk of cyber attack, Kevin Mandia, CEO of cybersecurity company FireEye, tells "Axios on HBO."

What they're saying: "The next conflict where the gloves come off in cyber, the American citizen will be dragged into it, whether they want to be or not. Period."