Axios Re:Cap

Most small business stories from the pandemic are about about pivoting or perishing, but there's also been an unexpected surge in new small business creation. One example is Agua Bonita, a canned beverage company that launched last year after both of its co-founders were laid off. Dan talks with Agua Bonita co-founder Kayla Castañeda and Techstars founder David Cohen about what it was like for startups over the past 14 months and what recovery means for businesses that didn't even exist before COVID-19. Plus, a conversation with Wall Drug proprietor Rick Hustead.

Buford Highway is a 10-mile stretch near Atlanta that's home to over 1,000 immigrant-owned small businesses. It's a constellation of home-away-from-homes, particularly for Asian and Latino communities. Dan speaks with Lily Pabian, executive director of the We Love Buford Highway nonprofit, about how the pandemic, the rise in anti-Asian hate crimes and the nearby spa murders impacted Buford Highway's small business community. Plus, Dan is joined by Ryan Reese, a fishmonger at Pike Place Market in Seattle.

As the U.S. economy was staring into the pandemic abyss in March 2020, Congress passed a $2.2 trillion stimulus package that included the Paycheck Protection Program (PPP) to quickly get forgivable loans to small businesses, so they could keep workers on payrolls. Dan digs into the creation and roll out of the PPP, from the multi-day negotiations and late night phone calls to estimations of how many businesses it helped, with former U.S. Treasury Secretary Steven Mnuchin. Plus, Dan is joined by First Ave CEO Dayna Frank from Minneapolis.

George Floyd's murder, one year ago today, and the surge of support for Black own-small businesses that followed "had an unprecedented impact," according to Shelly Bell, CEO of Black Girl Ventures. Dan speaks with Bell in the second of its six-part series America's Business Comeback, about what 2020 meant for Black-owned small businesses and where things stand today. We also share the first of our conversations with proprietors of some of America's most iconic small businesses, starting with Frank Olivieri of Pat's King of Steaks.

Shopping centers are where national chains rub elbows with mom and pops. Dan kicks off a new special series on America's business recovery by speaking to JP Morgan Chase Institute Co-President Chris Wheat, shopping center landlord Adam Ifshin, plus several of his tenants in an Allen, Texas property called The Villages, to understand what happened over the past year and where things stand today.

We're back with another episode of our Hard Truths series looking at the criminal justice system in the U.S. Today. Specifically, what happens when people of color make it out of that system and try to rebuild their lives. People of color are disproportionately imprisoned in the U.S. Black people are incarcerated five times more than white people, Hispanics nearly twice as likely as white people to end up behind bars. They also face longer sentences and harsher punishments which can make finding a job and rebuilding a life outside of prison much harder. Guests: New York Secretary of State Rosanna Rosado and Justin Cordova. Credits: "Axios Today" is produced in partnership with Pushkin Industries. This episode was produced by Nuria Marquez Martinez and edited by Alexandra Botti. Jeanne Montalvo is our sound engineer. Special thanks to Axios Executive Editor Sara Kehaulani Goo, Hard Truths Editor Michele Salcedo, and Executive Producer Dan Bobkoff.

The pandemic has been a horror show for movie theaters. Some wondered if their time in the spotlight had passed for good, as new releases arrived via digital streaming services. Today, though, they've got lots of reasons for optimism.Axios Re:Cap talks with Shelli Taylor, CEO of Alamo Drafthouse, about her cinema chain's bankruptcy, her industry's battles with streamers and why she's expecting this summer to be a blockbuster.

President Biden on Thursday signed a bill aimed at reducing and tracking anti-Asian hate crimes, which have increased significantly in 2021. Axios Re:Cap digs into the legislation and why it matters with Emma Lovewell, a Peloton instructor and Asian-American who lobbied for the bill in Congress.

The New York Attorney General's office announced late Tuesday night that its investigation into The Trump Organization has expanded from a civil one into a criminal one. Axios Re:Cap goes deeper with David Fahrenthold, a Washington Post reporter whose beat is the Trump family's business interests, to learn how the investigation started, why it's turned criminal and what big questions remain unanswered.

Images out of the Israeli-Palestinian conflict depict an imbalance in military might — Israel’s Iron Dome defense system neutralizing rockets launched by Hamas, while Israel’s retaliation against Hamas has led to more than 200 Palestinian deaths, including 61 children. World leaders, including President Biden, are calling for a ceasefire. Naomi Shavin is joined by Axios Tel Aviv author Barak Ravid to discuss the context of the current strife, the political motivations of Prime Minister Netanyahu, and whether Israel’s actions this month could have long-term consequences for the political landscape there and in the US.

Clinical research treating mental illness with psychedelics has been ongoing for decades, but now there's a group of companies exclusively focused on using LSD and other psychedelics to treat mental health disorders. Dan digs into the argument for legalizing prescription psychedelics, and the treacherous FDA approval path, with MindMed CEO JR Rahn, whose company recently listed on the Nasdaq.

One of the most confounding parts of last week's abysmal jobs report was the disconnect between the unemployment and the help wanted signs plastered in the windows of almost every restaurant and retail store. Axios Re:Cap goes deeper with Brian Niccol, CEO of Chipotle Mexican Grille, which just announced average starting wages of $15, to discuss pay, labor shortages and the CDC's new indoor masking guidance.

Amazon today announced plans to hire 75,000 more workers, most of whom will sign on after Jeff Bezos officially steps down as the tech giant's CEO. Axios Re:Cap talks with Brad Stone, author of a new book called "Amazon Unbound," about how Amazon may change, what Bezos does next and how he found the woman who voices Alexa.

Jake Levine, an attorney and former Obama administration staffer, this week was named the first-ever "chief climate officer" at the Development Finance Corp., a U.S. government group that acts a bit like a venture capital firm focused on developing countries. Axios Re:Cap speaks with Levine and Axios climate reporter Andrew Freedman about the significance of this new role, and how Levine will handle billions of dollars in financing to combat global warming.

India is dealing with daily new COVID cases well above 300,000, and a new variant, first detected in India, has been declared a global concern by the World Health Organization. Political blowback and calls for a nationwide lockdown are proliferating, even after President Modi had critical Facebook posts removed. Dan discusses the difficult and deadly situation in India, the political tensions that seem to just keep escalating, and the role of social media amid the crisis with New York Times reporter Karan Deep Singh, who is based in New Delhi.

The Colonial Pipeline provides around 45% of the fuel used between Florida and Maine, transporting over 100 million gallons per day. But over the weekend, a ransomware attack caused the entire pipeline to shut down. Dan digs into what we know about this attack, what it tells us about U.S. energy vulnerability, and what it means for transportation in the short term with energy expert Amy Myers Jaffe.

Economists had been expecting the economy to add nearly 1 million jobs last month but it only added 266,000. Now, this speed bump in the U.S. economic recovery could change the political debate over whether or not to spend trillions of dollars on infrastructure and social services. Dan is joined by Axios chief financial correspondent Felix Salmon and Axios political reporter Sarah Mucha to dig into what the jobs report says about our economy and what it means for Biden’s plans.

The idea of banning menthols was first floated in 2017 by then-FDA commissioner Scott Gottlieb, as nearly half of smokers between 12 and 17 smoke menthols. But around 85% of Black smokers prefer menthols, largely due to racially targeted marketing, and this has led to concerns about how enforcement of a ban could disproportionately impact Black Americans. Dan digs into the history of this proposed ban, what enforcement could look like, and when it might go into effect with Scott Gottlieb.

This morning, Facebook’s Oversight Board recommended that the social network maintain its suspension of former President Trump’s account, which has been in place since January 6. But it also said that Facebook must rethink the “indefinite” nature of Trump’s ban, throwing the ball back in Facebook’s court. Dan digs into the ban, the decision from the board and what’s ahead for Facebook with New York Times technology correspondent Mike Isaac. Plus, how the decision was received by Trump and his associates with Axios national political correspondent Jonathan Swan.

The FDA is expected to authorize the Pfizer vaccine for use in children 12-15 years old next week, a major milestone on the path to getting more Americans vaccinated. Dan digs into how vaccine trials for children are different, what’s ahead this summer and whether young kids may be eligible for vaccinations before next school year with long-time drug discovery researcher and author of the blog In The Pipeline Derek Lowe.

Research shows that 55% of Americans picked up a video game during the pandemic, and by December 2020, the global gaming industry was estimated to have generated $160 billion in revenue that year. In short, gaming has never been bigger and keeps growing — and that means the stakes of gaming as a digital economy and as a social ecosystem keep getting higher. Dan is joined by Axios Gaming newsletter writers Stephen Totilo and Megan Farokhmanesh to discuss the launch of their newsletter and why gaming matters now more than ever.

Smartphones, computers, cars and, increasingly, household appliances all run on silicon chips — but the global supply chain isn’t producing enough chips to satisfy demand, creating a shortage that could impact product availability. Dan digs into what caused the shortage, how it could impact consumers and how it can be alleviated with Axios chief technology correspondent Ina Fried and Intel’s executive vice president and general manager of its client computing group Gregory Bryant.

Endeavor, which does talent management, streaming, and also live events, went public today — and it could be an avatar for the broader in-person events industry, which is still struggling to rebound. Dan is joined by executive chairman Patrick Whitesell to discuss how Endeavor weathered the pandemic, how they’re approaching the future of in-person events and a recent decision to bring Elon Musk onto the company board.

President Biden tonight will address a joint session of Congress, during which he will try to sell legislators and the country on his third $1 trillion-plus plan since taking office just three months ago, the American Families Plan. Dan is joined by White House Council of Economic Advisers member Heather Boushey to dig into the plan, Biden’s speech and what a path through Congress could look like — including when tax changes could go into effect.

This week, California state officials announced that an effort to recall Governor Gavin Newsom had secured the number of signatures needed to qualify for the ballot this fall. Only two governors have ever been recalled, which includes California's in 2003 — when Gray Davis was booted and Arnold Schwarzenegger was elected. Dan digs into how California politics got to this point, if this effort has its own Schwarzenegger and what we can expect to see this fall with L.A. Times staff writer Phil Willon.

New data shows that around 8% of Americans who have gotten a first dose of the Pfizer or Moderna vaccines have missed their second doses. That figure, compounded with data on vaccine hesitancy more broadly, doesn’t bode well for the U.S. reaching a vaccination threshold that allows for a return to normalcy some time soon. Dan digs into those numbers and what they tell us about vaccine hesitancy with health policy expert Dr. Zeke Emanuel, who advised President Obama and served on President-elect Biden’s COVID-19 task-force.

President Biden’s virtual climate summit wrapped up this afternoon — and the big question is whether he managed to successfully convince the other world leaders in attendance that the U.S. can once again lead on climate change action. Dan is joined by Axios climate and energy reporter Andrew Freedman, who shares portions of his interview with Norwegian Prime Minister Erna Solberg.

Just after midnight this past Sunday, 12 of the richest and best-known European soccer clubs announced an agreement to form what they called the Super League. By Wednesday morning, outcry from fans, politicians and other soccer organizations stopped the Super League in its tracks. Dan is joined by Financial Times sports editor Murad Ahmed to discuss the Super League’s very short roller coaster ride, why it struck such a nerve, and how the financial motivations behind the Super League could reshape soccer even if the Super League is never revived.

After Former Minneapolis police officer Derek Chauvin was found guilty on three counts in the murder of George Floyd, the question now is if the success of the prosecution’s case against Chauvin will impact future prosecutions for better or for worse. Dan is joined by Damon Hewitt, acting president of the Lawyers’ Committee for Civil Rights Under Law, to discuss the prosecution’s case and whether this could mark a turning point in how other police brutality cases are handled.

Workers at Amazon’s warehouse in Bessemer, Alabama, rejected unionizing by more than a 2-1 margin earlier this month, despite a surge of national support for their efforts, including from President Biden. This followed a failed effort to get Uber, Lyft and DoorDash drivers recognized as employees and not contractors. Dan talks to two of the organizers involved about what went wrong, legislation in Congress that might bolster the power of unions, and where organized labor goes from here.

As of Monday, the prosecution and defense have made their cases in the trial of former Minneapolis police officer Derek Chauvin, who is charged with murdering George Floyd 11 months ago. Now the verdict is up to the jury. Dan is joined by Axios Twin Cities reporter Nick Halter, who is on the ground, to discuss the highlights from the trial, the decision facing the jury and what could happen when a verdict is released.

We’re sharing the latest episode of the Hard Truths podcast series. In this episode, we try to answer one big question: Why do fewer Latinos have health insurance when compared to others in the U.S.? Guests: Samantha Artiga, director of the racial equity and health policy program at the Kaiser Family Foundation, and Catalina Sol, executive director of La Clinica del Pueblo Credits: Axios Today is produced in partnership with Pushkin Industries. The team includes Niala Boodhoo, Sara Kehaulani Goo, Dan Bobkoff, Justin Kaufmann, Nuria Marquez Martinez, Sabeena Singhani, Amy Pedulla, Naomi Shavin, Alex Sugiura and Michele Salcedo. Music is composed by Evan Viola. You can reach us at [email protected].

Bernie Madoff, architect of the largest Ponzi scheme in American history, died on Wednesday in federal prison, 11 years into his 150-year sentence. Dan digs into Madoff’s crimes, what they revealed about our financial system and what changed after the scheme came crashing down with Diana B. Henriques, author of the Wizard of Lies: Bernie Madoff and the Death of Trust.

Georgia has become the center of America's politics, in an era where state issues and officials have taken on elevated national prominence. Axios Re:Cap speaks with Georgia state Sen. Jen Jordan, a Democrat running for attorney general, about her state's time under the microscope.‪

Bitcoin, the original cryptocurrency, began life as an academic exercise but went mainstream in part because of cryptocurrency exchange Coinbase, which launched nearly nine years ago. Today it goes public, at a moment when bitcoin is seen more as an investment than a practical currency. Dan is joined by Coinbase President and COO Emilie Choi to discuss how the company and bitcoin got to the present moment — and what happens next.

After the U.S. administered nearly 7 million doses of the Johnson & Johnson COVID-19 vaccine, the CDC and FDA this morning issued a recommendation to pause using that particular vaccine after six women developed blood clots following their vaccinations. Dan discusses how this recommendation was likely made, why and how to understand it with Julie Morita, executive vice president of the Robert Wood Johnson Foundation, who has served on the CDC’s Advisory Committee on Immunization Practices, as commissioner for the Chicago Department of Public Health, and on the Biden Covid-19 advisory board.

The U.S. secured so many COVID-19 vaccine doses through its Operation Warp Speed contracts that we may soon be sitting on a surplus, even if booster shots are needed. Dan and Vanity Fair contributing editor Katherine Eban discuss her recent reporting, which revealed exactly how those contracts were structured and how the U.S. ended up with a stockpile it cannot distribute abroad.

President Biden’s $2 trillion infrastructure plan includes spending on child care facilities and elder care — and now members of his administration and allies on the hill are arguing to expand the definition of infrastructure so that it encompasses more than roads and bridges. Dan speaks with Rep. Katie Porter (D-Calif.), who supports Biden’s plans, but calls the decision to split up family policies and jobs “a big mistake.”

Nearly one in five American adults is hesitant to get a COVID-19 vaccine, which could make it harder for the country to reach herd immunity. Meanwhile, the virus continues to mutate, with the CDC announcing today that the British variant is dominant in the U.S. Dan talks with Dr. Atul Gawande, author and advisor to the Biden administration, about what vaccine hesitancy means for the U.S. and the world.

As U.S.-based companies have spoken out against Georgia’s new voting law, some politicians on the right have pointed out that these same companies have stayed quiet on human rights violations in China — and they are alleging hypocrisy. Dan is joined by Axios China author Bethany Allen-Ebrahimian to discuss what’s happening in China, what U.S. corporations have and haven’t said, and what to make of these allegations and the expectations they set.

Georgia businesses have come under boycott pressure from both sides of the aisle, following last week's passage of a controversial new voting bill. Atlanta also lost Major League Baseball's All-Star Game, which now will take place in Denver. Dan and Atlanta Mayor Keisha Lance Bottoms dig into the consequences of this law for Georgia voters and locally based businesses and what other states can learn from the situation.

The White House has pitched its $2 trillion infrastructure plan, and Republicans have taken a stance against using corporate tax increases to pay for it — leaving corporate America caught in the middle, especially titans of the energy industry. Dan digs into this dynamic with Barbara Humpton, president and CEO of Siemens USA, to get her thoughts on Biden’s proposal and what will come of it.

The Federal Reserve, over the past year, has been credited and criticized for the massive run up in asset values like housing and stocks — basically for how stocks could be going up if the economy has so many problems. Dan is joined by Courtenay Brown and Felix Salmon to discuss the Fed's mission and why it has become so central to America's economic recovery as part of a special Axios Deep Dive on America's central bank.

There are more than 18,000 unaccompanied minors in government custody, according to the latest figures. And over the past week, between 5,000 and 6,000 of them have been in border patrol facilities unfit for minors — a challenge further complicated by COVID-19. Dan is joined by Janet Napolitano, DHS secretary under Obama and former Arizona governor, to discuss the Biden administration’s response.

UnitedMasters, a music distribution platform that feels a little like Substack for singers, yesterday raised $50 million from investors like Apple — which almost never invests in startups. Dan talks with UnitedMasters CEO Steve Stoute, known for producing albums by artists like Nas and Mariah Carey, about his company, the uncertain future of record labels and why it's important for musicians to own their own music.

President Biden on Wednesday proposed a $2 trillion infrastructure package that could transform America's physical and economic landscape. Axios Re:Cap speaks with White House economic adviser Jared Bernstein about the plan and the politics.

This fall, the Inspiration4 mission, chartered from SpaceX, will take four people into space who are not trained astronauts — and as of today, the full crew has been announced. Producer Naomi Shavin and author of Axios Space Miriam Kramer discuss this unusual mission, which will carry the hopes of the entire space industry with it when it takes off in September.

Dominion Voting Systems on Friday filed a $1.6 billion defamation lawsuit against Fox News, its fourth following similar lawsuits filed against Sidney Powell, Rudy Giuliani and Mike Lindell. Dan discusses this latest lawsuit, Powell’s recent response in her lawsuit, and possible future suits with attorney for Dominion Voting Systems Tom Clare.

Ben Cohen and Jerry Greenfield have been mixing business and activism almost as long as Heath Bar and vanilla ice cream — more than 30 years. Now they're watching other companies follow their blueprint. Dan asks Ben and Jerry about their legacy, the rise of corporate social activism and its recent evolutions, and, of course, their favorite flavors.

The House of Representatives is holding its first Big Tech hearing of 2021 on Thursday with witnesses to include Facebook CEO Mark Zuckerberg, Google CEO Sundar Pichai and Twitter CEO Jack Dorsey. Dan is joined by Rep. Anna Eshoo (D-Calif.), who represents part of Silicon Valley, to discuss what she hopes to learn and why she's more interested in algorithms than moderators.