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Valuations for venture-backed companies at record highs
Valuations for U.S. venture-backed companies are at record highs, per data released this morning by PitchBook.
Between the lines: It's the new normal, in which nontraditional investors are traditional, unicorns are pigeons and startups are in the driver's seat.
TikTok introducing more automation to video removals
TikTok is rolling out a new system that will allow the company to block videos that violate its policies automatically when they're uploaded. The social network is also changing the way it will notify users when their content is removed.
Why it matters: TikTok says the new system will not only improve the user experience, but will help reduce the number of distressing videos (such as those with violent content) that its safety team must review, freeing staff to focus on more nuanced content areas, like hate speech, bullying and harassment.
Beijing's antitrust push poses a problem for Western regulators
The Chinese government's anti-monopoly machinery presents a major challenge to U.S. and European regulators, a new book argues.
Why it matters: China's huge markets are attracting investment from multinational corporations and shaping the behavior of its own globe-trotting companies — giving international heft to the country's idiosyncratic antitrust enforcement and putting it on a collision course with Western-style regulation.
Coronavirus infections fell by 24% last week
Data: The COVID Tracking Project, state health departments; Map: Andrew Witherspoon/Axios
New coronavirus cases continued their sharp decline over the past week — progress that could help the U.S. find its way out of the pandemic faster and more safely, if it keeps up.
The big picture: Getting the virus' spread under control is the key to saving lives and reopening schools and businesses. And the tools to achieve that — masks, social distancing and vaccines — are also the most effective weapons against the more contagious variants that could threaten the U.S.' progress.