Apr 4, 2017

The talk of tech

Mike Allen, author of AM

Wall Street Journal front-pager, "Tesla Steps on the Gas, Overtakes Ford in Value," by Tim Higgins and Christina Rogers: "Tesla Inc., the upstart Silicon Valley electric-car maker run by [Elon] Musk, has overtaken Ford Motor Co., the automotive pioneer that is exactly 100 years older, as the second-largest U.S. auto maker by stock-market value."

Market caps: GM $51.2 billion ... Tesla: $48.7 billion ... Ford: $45.5 billion.

The Snap effect ... Also on the Journal front page, "Tech Founders Wants IPO Cash — and Control: 'Dual-class' shares, which give majority to a few, spread in Silicon Valley," by Maureen Farrell: "[C]ompanies are structuring their IPOs so that founders and executives wind up with far more votes than actual shares. The exaggerated voting power gives those few shareholders dominance over all corporate decisions, ranging from the election of directors to whether to sell the company someday."

Go deeper

Trump hits back at Mattis: "I gave him a new life"

President Trump speaks at the White House. Photo: Doug Mills - Pool/Getty Images

President Trump unloaded on his former defense secretary via Twitter on Wednesday, hours after James Mattis condemned him for making a "mockery of our Constitution" in his response to mass protests in the wake of George Floyd's killing.

What he's saying: "Probably the only thing Barack Obama & I have in common is that we both had the honor of firing Jim Mattis, the world’s most overrated General. I asked for his letter of resignation, & felt great about it. His nickname was 'Chaos', which I didn’t like, & changed it to 'Mad Dog'"

Obama praises young protesters, urges mayors to pursue police reforms

Former President Barack Obama called on all mayors to review their use-of-force policies and commit to policing reform in a virtual town hall Wednesday hosted by the Obama Foundation's My Brothers Keepers Alliance.

Why it matters: Obama has addressed the killing of George Floyd and the nationwide protests that followed on social media and in a Medium post, but this was his first time speaking about the past week's events on camera. His voice will add weight to the growing pressure on local, state and federal officials to pursue policing reforms.

James Mattis condemns Trump as a threat to the Constitution

Mattis on Fox in Septemnber 2019 in New York City. Photo: Steven Ferdman/Getty Images

Former Secretary of Defense James Mattis condemned President Trump for making a "mockery of our Constitution" in a statement to The Atlantic on Wednesday, saying he was "appalled" at the president's response to mass protests in the wake of George Floyd's killing.

Why it matters: Trump’s former defense secretary had refrained from publicly criticizing his former boss since resigning in 2018.