Felix Salmon
Felix Salmon
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RECENT ARTICLES
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Netflix to move $100 million in cash into Black community banks

Netflix to move $100 million in cash into Black community banks

Illustration: Sarah Grillo/AxiosNetflix has pledged to allocate about 2% of the $5 billion it holds in cash — some $100 million — to "financial institutions and organizations that directly support Black communities in the United States," the company announced today.Why it matters: U.S. corporations are sitting on trillions of dollars of cash, which is earning them effectively no interest. Aaron Mitchell, a recruiter at Netflix, had the idea that some of that cash could be deposited at Black-owned banks, where it would be reinvested into Black communities.The catch: As part of this pledge,...

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Felix Salmon
Jun 30
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Explaining a surprisingly promising jobs report

Explaining a surprisingly promising jobs report

Illustration: Rebecca Zisser/AxiosCan we trust this morning's surprisingly good employment report?The longer answer: No statistics are entirely reliable, and the more of an outlier you're trying to measure, the less reliable your statistics become.The big picture: No one at the Bureau of Labor Statistics is trying to commit fraud. The agency was doing its very best to be accurate in , when employment figures made Obama look good, and it's doing its very best to be accurate in June 2020, when the same report makes Trump look better than many expected.By the numbers: The official unemployment...

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Felix Salmon
Jun 5
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When Uber left Austin - Axios

When Uber left Austin - Axios

Uber has its food delivery business in India to rival Zomato in an all-stock deal that gives Uber a 9.99% stake in the combined business. Why it matters: Uber is under growing pressure from investors to figure out a path to profitability and cut loose anything that won't help it reach that goal. Cargo, a New York-based startup that sells snack boxes and other amenities to ride-hail passengers, has laid off around two dozen employees and will pivot to car-top advertising, the company confirms to Axios.Why it matters: A growing number of startups are under pressure to build sustainable...

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Felix Salmon
Feb 14
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