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Left photo: Melissa Sue Gerrits/Getty Images. Right photo: JEFF KOWALSKY/AFP via Getty Images.

Michael Bloomberg and President Trump's 2020 campaigns have both secured 60-second advertising spots during the Super Bowl on Feb. 2 at a likely cost of at least $10 million each, Politico reports.

Why it matters: The buy highlights Bloomberg's massive spending power, as the billionaire continues to pump millions of his own money into his campaign. And it's just the start of what's likely to be a huge spending year for Trump.

  • Bloomberg has already spent $170 million on ads this election cycle, according to Advertising Analytics.
  • The Republican National Committee last week announced that it raised $463 million in 2019 and has nearly $200 million cash on hand.
  • The Super Bowl is just one day before the Iowa caucuses.

What we know: A campaign spokesperson says Bloomberg's ad's "biggest point is getting under [President] Trump's skin."

  • "The ad is part of Mike’s strategy of running a national campaign that focuses on states where the general election will be decided, parts of the country that are often overlooked," said Michael Frazier.
  • The Bloomberg campaign says the slot will be filled with a never-before-aired commercial.

Meanwhile, the Trump campaign says they're still working out the details of their Super Bowl ad, but that it will be texted to supporters days before the event.

Go deeper: Billionaires dominate 2020 ad spend

Go deeper

47 mins ago - World

Olaf Scholz sworn in as German chancellor, succeeding Merkel

Incoming German Chancellor Olaf Scholz is sworn in by Bundestag President Bärbel Bas in Berlin today. Photo: Sean Gallup/Getty Images

Social Democrat Olaf Scholz was sworn in as chancellor of Germany on Wednesday, succeeding Angela Merkel after 16 years and launching a new era of German and European politics.

Why it matters: Scholz, a center-left pragmatist who served as finance minister and vice chancellor in Merkel's last government, will lead Europe's largest economy in a coalition with the environmentalist Greens and pro-business Free Democrats.

Instagram's boss faces Congress' questions on harm to teens

Photo illustration: Shoshana Gordon/Axios. Photo: Matt Winkelmeyer/Getty Images for WIRED

The head of Instagram will find himself in Congress' crosshairs for the first time Wednesday in the one area lawmakers have shown they are willing to pass tech regulations — protecting youngsters online.

Why it matters: Republicans and Democrats have found common ground in grilling tech companies on how their products harm children, especially after revelations in The Wall Street Journal about Instagram's potential harm to the mental health of teen girls.

School buses that track your child's location

Illustration: Annelise Capossela/Axios

New York City is the biggest school district to gear up for an Uber-like GPS-based system that tracks each pupil's school bus ride, letting parents know where their child is in real time.

Why it matters: For parents, teachers and school administrators, the ability to follow each student's daily commute adds a layer of safety and peace of mind — and helps all parties adjust plans when there are traffic jams, weather problems or other snarls.