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Manuel Balce Ceneta / AP

Why it matters: Commerce weighs in on everything from privacy to wireless spectrum. So while the Secretary of Commerce doesn't have the high-profile of, say, the FCC chair, it's still a key role to watch for tech and telecom companies.

  • Spectrum: "Well, for sure, the vast majority of the federally occupied spectrum that's unused now is in the hands of the Department of Defense," said businessman Wilbur Ross. "So [the] first objective has to be do no harm, we can't compromise national defense, homeland at all. But we also need to be rational and it can't be that there's hoarding." Quick take: That's probably good news for people who want more federal spectrum turned over to private companies.
  • The internet domain system: He acknowledged that the transition away from a U.S.-controlled domain name system is settled business for now. He was skeptical of the move, however, and said he'd be happy to look at alternatives if they ever come up.
  • Privacy: Asked about the framework governing data transfers between the US and EU, Ross said he recognized that "agreements that exist obviously exist" but said "there will be a tension between privacy on the one hand and the problems of localization of data and the implications that they have for the internet as we go forward."
  • Broadband deployment: "Broadband is to a very large degree a path to a future," Ross said, adding broadband was an important part of infrastructure policy. Quick take: This signals that broadband may be included in the major infrastructure plan Donald Trump is expected to roll out.

Go deeper

Behind GameStop's latest stock surge

Illustration: Aïda Amer/Axios

Back in focus: The meme stock trade.

By the numbers: GameStop finished up 19%, after a wild day that saw shares spike as much as 80%.

AT&T spins off U.S. video business via deal with TPG

Photo: AaronP/Bauer-Griffin/GC Images

AT&T is spinning off three of its video services, including its satellite TV brand DirecTV, to create a new standalone video company called New DIRECTV.

Details: The company will be jointly owned by AT&T and private-equity giant TPG. AT&T will retain a 70% stake and TPG will own 30% of the firm.

Updated 1 hour ago - Sports

Ex-USA Gymnastics coach dies by suicide after being charged with human trafficking

John Geddert. Photo: AFP via Getty Images

The body of John Geddert was found on Thursday, just hours after the former USA Gymnastics coach was charged with 24 counts of criminal misconduct, according to Michigan Attorney General Dana Nessel.

What they're saying: “My office has been notified that the body of John Geddert was found late this afternoon after taking his own life. This is a tragic end to a tragic story for everyone involved," Nessel said in a statement.