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Olympics to return to Australia for third time as Brisbane named host of 2032 Games

The International Olympic Committee awarded the 2032 Olympics to Brisbane, Australia, on Wednesday, capping a new one-city selection process meant to minimize costly bidding wars between countries.

Why it matters: It will be the third time that Australia hosts the Olympics, following the popular 2000 Summer Games in Sydney and the 1956 Summer Games in Melbourne.


The big picture: The IOC has now chosen the sites for five of the six next Summer and Winter Olympics:

  • 2022 Winter: Beijing
  • 2024 Summer: Paris
  • 2026 Winter: Milan and Cortina d'Ampezzo
  • 2028 Summer: Los Angeles
  • 2030 Winter: To be announced
  • 2032 Summer: Brisbane

Between the lines: Brisbane was the first city to be named Olympic host in a new streamlined selection process, through which the IOC named the Australian city as the preferred candidate without a formal opponent. The 138th IOC Session on Wednesday served as a rubber stamp of the recommendation.

Driving the news: The announcement was made as the embattled 2020 Tokyo Olympics officially began on Wednesday with softball and women's soccer, two days before the opening ceremony.

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Why the startup world needs to ditch "unicorns" for "dragons"

When Aileen Lee originally coined the term "unicorn" in late 2013, she was describing the 39 "U.S.-based software companies started since 2003 and valued at over $1 billion by public or private market investors."

Flashback: It got redefined in early 2015 by yours truly and Erin Griffith, in a cover story for Fortune, as any privately-held startup valued at $1 billion or more. At the time, we counted 80 of them.

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Scoop: Facebook's new moves to lower News Feed's political volume

Facebook plans to announce that it will de-emphasize political posts and current events content in the News Feed based on negative user feedback, Axios has learned. It also plans to expand tests to limit the amount of political content that people see in their News Feeds to more countries outside of the U.S.

Why it matters: The changes could reduce traffic to some news publishers, particularly companies that post a lot of political content.

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Scoop: Amazon quietly getting into live audio business

Amazon is investing heavily in a new live audio feature that's similar to other live audio offerings like Clubhouse, Twitter Spaces and Spotify's new live audio platform, sources tell Axios.

Why it matters: As with Amazon's efforts in podcasting and music subscriptions, the company sees live audio as a way to bolster the types of content it can offer through its voice assistant, Alexa, and its smart speaker products.

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Hurricane Ida exposes America's precarious energy infrastructure

The powerful hurricane that plunged New Orleans into darkness for what could be weeks is the latest sign that U.S. power systems are not ready for a warmer, more volatile world.

The big picture: “Our current infrastructure is not adequate when it comes to these kinds of weather extremes,” Joshua Rhodes, a University of Texas energy expert, tells Axios.

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"We must go further": 70% of adults in European Union are fully vaccinated

About 70% of adults in the European Union are fully vaccinated against COVID-19, Ursula von der Leyen, the president of the European Commission, said Tuesday.

Why it matters: The milestone makes the E.U. one of the world's leaders in inoculations, after an initially lagging vaccine campaign, the New York Times notes.

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What Elizabeth Holmes jurors will be asked ahead of fraud trial

Jury selection begins today in USA v. Elizabeth Holmes, with the actual jury trial to get underway on Sept. 8.

Why it matters: Theranos was the biggest fraud in Silicon Valley history, putting both hundreds of millions of dollars and thousands of patients' health at risk.

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