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!

Sign up for Axios Pro Rata

Dive into the world of dealmakers across VC, PE and M&A with Axios Pro Rata. Delivered daily to your inbox by Dan Primack and Kia Kokalitcheva.

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!

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!

Want a daily digest of the top Nashville news?

Get a daily digest of the most important stories affecting your hometown with the Axios Nashville newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Columbus news?

Get a daily digest of the most important stories affecting your hometown with the Axios Columbus newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Dallas news?

Get a daily digest of the most important stories affecting your hometown with the Axios Dallas newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Austin news?

Get a daily digest of the most important stories affecting your hometown with the Axios Austin newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Atlanta news?

Get a daily digest of the most important stories affecting your hometown with the Axios Atlanta newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Philadelphia news?

Get a daily digest of the most important stories affecting your hometown with the Axios Philadelphia newsletter.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Chicago news?

Get a daily digest of the most important stories affecting your hometown with the Axios Chicago newsletter.

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!

Photo: Fabian Sommer/picture alliance via Getty Images

Twitter said Wednesday it is shutting down "Fleets," a product akin to Snapchat's "Stories" feature that allows users to post strings of photos and videos for 24 hours before they disappear.

Why it matters: Twitter introduced Fleets last November as a way to connect its users around more ephemeral content. Now, the company says its big bet wasn't producing enough new user engagement to make it worthwhile.

Details: "We weren’t seeing the impact we’d like to see from a big bet, so we’re going to pivot our focus elsewhere," Twitter's head of consumer product Kayvon Beykpour tweeted Wednesday.

  • In a blog post, Twitter's VP of product Ilya Brown said the company built Fleets as "a lower-pressure, ephemeral way for people to share their fleeting thoughts," but the company hasn't seen "an increase in the number of new people joining the conversation with Fleets like we hoped."
  • Instead, Twitter found that the people using Fleets were mostly active Twitter users trying to amplify their own Tweets and talk directly with other users.

Yes, but: Twitter says the experiment wasn't a total failure, noting that it helped the company learn about ways it can build better products moving forward.

  • For example, Twitter found that people were often using Fleets to post rich photos and videos. The company plans to test ways to incorporate more multimedia camera features, like the full-screen camera and GIF stickers, to regular Tweets.
  • Twitter also found that the place where Fleets were positioned at the top of the main user feed "continues to be a good spot to highlight what’s happening right now." As a result, the company will continue to put live audio conversation updates from its "Spaces" product there.
  • Twitter also said that the full-screen, vertical ads it tested within Fleets will be examined to learn ways it can update existing ad products.

The big picture: The ultimate goal of Fleets was to get more users to engage on Twitter. Because Fleets didn't meet that goal, Brown says Twitter will remain focused on "building tools that inspire new forms of conversation on Twitter."

The bottom line: "[B]ig bets are risky and speculative, so by definition some of them won’t work. If we’re not having to wind down features every once in a while, then it would be a sign that we’re not taking big enough swings," Beykpour tweeted.

What's next: Fleets will officially go away Aug. 3.

Go deeper

Oct 7, 2021 - Technology

Snapchat publicly addresses fentanyl crisis

Photo illustration by Jakub Porzycki/NurPhoto via Getty Images

Snapchat on Thursday publicly addressed reports about young users buying fentanyl-laced counterfeit pills from drug dealers via its platform, announcing a new in-app tool called "Heads Up" that provides content to users from substance abuse experts when they search for drug-related keywords.

Why it matters: Snapchat has been able to avoid most of the regulatory and public relations headaches that its competitors have faced in the past few years by focusing on connections between close friends. But because its platform caters to young users, it's also vulnerable to problems related to minors and safety.

58 mins ago - World

Iran agrees to resume Vienna nuclear talks in November

Ali Bagheri (R) with Enrique Mora in Tehran on Oct. 14. Photo: Iranian Foreign Ministry handout via Getty

Iran's new chief nuclear negotiator said following a meeting in Brussels on Wednesday that Iran would resume negotiations in Vienna before the end of November, with the exact date to be set next week.

Why it matters: The Vienna talks have been frozen since Iran's new hardline president, Ebrahim Raisi, was elected in June. This is the most direct commitment from Raisi's government to return to the negotiating table.

Dan Primack, author of Pro Rata
6 hours ago - Politics & Policy

Democrats' billionaires tax explained

Illustration: Aïda Amer/Axios

There is now legislative language behind the push to tax American billionaires on unrealized capital gains, as Sen. Ron Wyden last night released his 107-page plan.

Why it matters: This would be a sea change in U.S. tax policy, which has only applied to realized gains (otherwise known as income).

You’ve caught up. Now what?

Sign up for Mike Allen’s daily Axios AM and PM newsletters to get smarter, faster on the news that matters.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!