Sen. Lindsey Graham (R-S.C.) said Monday that he has tested positive for COVID-19, despite being vaccinated.
Why it matters: Graham emphasized that the mildness of his symptoms is due to being vaccinated. If he had been unvaccinated his symptoms would be "far worse," he said.
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Critics argue that the impact of technology has grown so large that society can't afford for companies to release products just because they can, without fully anticipating issues like privacy and security. Microsoft CEO Satya Nadella couldn't agree more.
What they're saying: "Tech is becoming so pervasive in our lives, in our society and our economy, that when it breaks, it’s not just about any one tech breaking or one company breaking," Nadella said in an exclusive interview with Axios. "It impacts us all."
China's leadership is deeply suspicious of the international financial system, and wants to ensure that the Chinese Communist Party remains the absolute power in the land, unthreatened by fast-growing corporate giants.
What's new: That lesson was learned the hard way this week by Didi, but the repercussions are likely to be much larger. Already, Chinese fitness app Keep has decided to scrap its planned $500 million IPO in New York.
Why it matters: The core paradox of modern China — that it is a hypercapitalist success story while remaining a Communist dictatorship — is resolving itself in favor of the latter. China's moguls — and foreign shareholders — should expect a lot more turbulence ahead.
Driving the news: China cracked down on Chinese ride-hailing giant Didi immediately after it went public in New York last week, hitting the newly-public company with a long-weekend triple whammy.
By the numbers: Didi's shares closed at $11.91 on Wednesday, 15% below the $14 IPO price and 34% below the $18 at which they started trading a week previously.
The big picture: The current crackdown should not come as a surprise to observers of Ant, or even Hong Kong, where hometown billionaire Jimmy Lai has been imprisoned for speaking out against the Chinese regime.
How it works: A happy, prosperous society is good for China — and if a market economy can help achieve that, great. But when an individual's wealth starts to become a rival power base, or when foreigners start owning Chinese property, Beijing will have no compunctions asserting its primacy.
The bottom line: When economics meets politics, politics always wins.
American companies have long coveted access to the world's largest market, but they're also feeling the effects of China's crackdown.
Driving the news: The positions tech giants are contorting themselves into can be seen in the painfully polite seven-page letter sent by the Asia Internet Coalition — led by Apple, Amazon, Google, and Facebook — to the Privacy Commissioner for Personal Data in Hong Kong.
U.S. investors, similarly, have to be worried that their Chinese investments could be voided at the stroke of a technocrat's pen.
The one industry where foreigners still seem to be welcome is fashion. Giants like LVMH and Hermès (both of which are French, rather than American) present no threat to the Politburo.
A growing number of Democrats are ringing the alarm that their party sounds — and acts — too judgmental, too sensitive, too "woke" to large swaths of America.
Why it matters: These Democrats warn that by jamming politically correct terms or new norms down the throats of voters, they risk exacerbating the cultural wars — and inadvertently helping Trumpian candidates.
Anita Dunn, one of President Biden's closest advisers during the campaign and as he built his administration, will depart the White House after today but remain a top confidant.
Why it matters: Dunn is one of the small handful of aides in the Oval Office who preps Biden before any major appearance. She helped place women in senior roles throughout the West Wing.
