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Wilfredo Lee / AP

Inexplicably, Cyber Monday is still a thing. And bigger than ever.

Flashback: The invented holiday began in 2005 as a way to cater to online shoppers who used their work computers to order holiday presents.

Our thought bubble: That made some sense in the era where not everyone had a PC at home and many were on dial-up connections. The need for a separate shopping day in an era of ubiquitous smartphones and improved broadband access is far less clear.

That's all the more true in a world where online pioneers like Amazon have physical stores and traditional retailers have Cyber Monday promotions via their online operations.

The numbers: Nonetheless, this year's Cyber Monday was shaping up to be the biggest ever, according to Adobe. The company expects it to be the biggest sales day in history, with an estimated $6.6 billion in spending, up nearly 17% from last year. Of that, smartphones will have accounted for more than $1.6 billion, Adobe estimates.

But, according to Loup Ventures' Gene Munster, many big brands cut down on the discounts they offered.

Go deeper

11 mins ago - Technology

Google says goodbye to individual user tracking

Illustration: Sarah Grillo / Axios

Google made clear Wednesday that after it finished phasing out third-party cookies over the next year or so, it won't introduce other forms of identifiers to track individuals as they browse across the web.

Why it matters: The move comes amid increased scrutiny over the way tech giants use consumer data to reinforce their dominance, particularly around personalized advertising.

Dion Rabouin, author of Markets
2 hours ago - Economy & Business

The Fed could be firing up economic stimulus in disguise

Federal Reserve governor Lael Brainard at a "Fed Listens" event. Photo: Eric Baradat / AFP via Getty Images.

Even as global growth expectations increase and governments pile on fiscal spending measures central bankers are quietly restarting recession-era bond-buying programs.

Driving the news: Comments Tuesday from Fed governor Lael Brainard suggest the Fed may be jumping onboard the global monetary policy rethink and restarting a program used following the 2008 global financial crisis.

Democrats' hypocrisy moment

Illustration: Eniola Odetunde/Axios. Photo: Ray Tamarra/Getty Images

Gov. Andrew Cuomo should be facing explicit calls to resign from President Biden on down, if you apply the standard that Democrats set for similar allegations against Republicans. And it's not a close call.

Why it matters: The #MeToo moment saw men in power run out of town for exploiting young women. Democrats led the charge. So the silence of so many of them seems more strange — and unacceptable by their own standards — by the hour.

You’ve caught up. Now what?

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