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!

Catch up on the day's biggest business stories

Subscribe to Axios Closer 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!

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!

Axios on your phone

Get breaking news and scoops on the go with the Axios app.

Download for free.

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!

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!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Scott Galloway, speaking at DLD18. Photo: Dominik Gigler for DLD

When NYU professor Scott Galloway began The Four, his book on Apple, Google, Amazon and Facebook, he thought it was a love letter. Now he says it's time to break up the companies.

Why it matters: In a year where the biggest tech companies have been widely criticized, regulators may have more inclination than ever to look at their business practices.

"I’ve become 100 percent convinced that its time to break these companies up," Galloway said, speaking at the DLD18 conference in Munich. "I want to be clear I love these companies... They are clients of mine, at least for another hour until they see this."

The rationale: "The key to competitive markets is no one company has too much power and we have blown way by that." Galloway notes that Google would have never made it out of the crib if antitrust regulators hadn't put the breaks on Microsoft.

Other predictions: Galloway also used his talk to offer his take on 2018, a year in which he says the following will occur:

  • Amazon will pass Apple in value with Alexa helping push the online retailer past $1 trillion in value. He also sees Amazon's media unit passing Twitter and Oath in revenue.
  • Twitter, Snap and Pinterest will either be acquired or take on new investment at valuations of a quarter to half of their peaks.
  • Amazon will buy either Carrefour or Nordstrom.
  • The breakup of Big Tech will begin with inquiries from either a U.S. attorney general in a red state, the EU's antitrust authority, or both.
  • Facebook's stock will peak as Mark Zuckerberg "burnishes his reputation as the most tone-deaf CEO in tech."

Last year's picks: Galloway's 2017 predictions were a mixed bag, though he did importantly predict it would be the year that the Big Four tech firms started to get blowback. He also correctly predicted a bust for virtual reality, a decline in wearables, and the year's big winner Netflix.

But he admits he was wrong in calling Walmart's Jet.com buy a bust and predicting falls for Apple and WeWork. His whole talk was powerful (and good fun). You can watch the highlights via YouTube below.

Go deeper

Biden to meet with U.S. financial regulators on Monday

Photo: Drew Angerer via Getty Images

President Biden will meet with financial regulators on Monday.

Driving the news: "The meeting will cover regulatory priorities including climate-related financial risk and agency actions to promote financial inclusion and to responsibly increase access to credit," said press secretary Jen Psaki, according to a press pool report.

Updated 5 hours ago - Economy & Business

The next worker fight: Time off for Juneteenth

Illustration: Annelise Capossela/Axios

Who gets paid time off to celebrate Juneteenth in the years to come will be uneven and complicated, if history is any guide.

Why it matters: Corporate America hasn't grappled with a new federal holiday since Martin Luther King Jr. Day was authorized almost 40 years ago. How they responded took years to evolve.