Photo: Aytug Can Sencar/Anadolu Agency/Getty Images

Twitter lost 9 million monthly active users last quarter, bringing its total user count down to 326 million monthly active users, the company reported Thursday during its third quarter earnings.

The big picture: Social media companies generally seem to have hit a point of saturation as Snapchat and Facebook both lost North American users this year for the first time. And, in July, Twitter purged millions of locked and fake accounts, causing the following of many high-profile users to drop significantly.

  • Still, the tech giant beat revenue expectations and was profitable for its fourth straight quarter.
  • While Twitter doesn’t report daily active users, it says that its user base grew by 9% year-over-year, suggesting that the people who use the platform are using it more regularly.

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A white-collar crime crackdown

Illustration: Eniola Odetunde/Axios

America has waited a decade for an aggressive government crackdown on white-collar crime. Now, just before the election, and in the middle of a bull market, it has arrived.

Why it matters: When times are good, investors become more trusting and more greedy. That makes them more likely to put their money into fraudulent or criminal enterprises.

  • After a decade-long bull market, there is no shortage of those frauds to prosecute.
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The big picture: Winning any antitrust case is a heavy lift. It's even more of a challenge to pull off victory in a future-looking case that seeks to make room for potential new competition to flourish.

The pandemic is getting worse again

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Data: The COVID Tracking Project, state health departments; Note: Due to a database error, Missouri had a 3 day gap in reporting from Oct. 11-13; Map: Andrew Witherspoon/Axios

Every available piece of data proves it: The coronavirus pandemic is getting worse again, all across America.

The big picture: As the death toll ticks past 212,000, at a moment when containing the virus ought to be easier and more urgent than ever, we are instead giving it a bigger foothold to grow from.

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