Photo: Alex Tai/SOPA Images/LightRocket via Getty Images

WeWork has named real-estate-industry veteran Sandeep Mathrani as its new CEO, the Wall Street Journal reports.

Why it matters: The hire is the company's first significant step since its co-founder Adam Neumann stepped down from the position last September.

  • WeWork’s valuation plummeted more than 80% since 2019, forcing it to seek lifeline from its parent company SoftBank Group, according to the WSJ.

Our thought bubble, via Axios' Dan Primack: This is WeWork telling the world that it's a real estate company, not a tech company seeking "to elevate the world's consciousness."

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Pompeo: Trump administration is "looking at" TikTok ban

Secretary of State Mike Pompeo told Fox News' Laura Ingraham on Monday that the Trump administration is "looking at" a ban on Chinese social media app TikTok.

Why it matters: Lawmakers have long expressed fears that the Chinese government could use TikTok to harvest reams of data from Americans — and actions against the app have recently accelerated worldwide, highlighted by India's ban.

"Hamilton" is a streaming hit for Disney+

Data: Google Trends; Chart: Andrew Witherspoon/Axios

The debut of "Hamilton" on Disney+ last Friday sent downloads of the app soaring over the weekend.

Why it matters: With theaters closed until 2021, "Hamilton" is the biggest litmus test for whether Broadway will ever be able to successfully transition some of its iconic hits.

Wall Street is no longer betting on Trump

Illustration: Sarah Grillo/Axios

Betting markets have turned decisively toward an expected victory for Joe Biden in November — and asset managers at major investment banks are preparing for not only a Biden win, but potentially a Democratic sweep of the Senate and House too.

Why it matters: Wall Street had its chips on a Trump win until recently — even in the midst of the coronavirus-induced recession and Biden's rise in the polls.