2. By the numbers: Tech's trickle of change

Inflation has reduced the value of social security benefits to recipients. But there will be further cuts in the long run. Experts say the increasing needs of seniors are burdening small benefit reserves. Americans are living longer because of lower lifestyle risks. Life expectancy was 47 years in 1900 and it was 76 in 2021.

Iowa Republicans say they plan on amending a bill that would have severely restricted what food SNAP recipients could buy at the store.After a debate yesterday morning, the bill will just restrict candy and non-zero calorie pop purchases, pending USDA approval.Driving the news: The first draft of House File 3 prompted national outrage due to a section limiting the foods SNAP recipients could purchase to a state-approved WIC list.WIC, which is meant to be a supplemental aid for women, infants and children, doesn't allow for the purchase of a wide range of basic groceries, such as fresh meat and...

The overall labor market is solid and real incomes are growing. But the consumer — once eager to spend — is now socking away their cash, appearing more hesitant about opening their wallets for various things. That's the takeaway from Friday's personal income and spending data showing that...

The smartest insight and analysis, from all perspectives, rounded up from around the web: Tesla CEO Elon Musk testified this week in a shareholder lawsuit that he was serious when he tweeted in 2018 that he had "funding secured" to take the pioneering electric-car company private, said Patrick McGee and Hannah Murphy in the Financial Times. In response to the accusation he'd "artificially boosted Tesla's stock price" with that public statement, Musk told a federal jury that he had "what he considered a 'handshake' agreement" with Saudi Arabia's sovereign wealth fund to help finance a stock buyout. "Looking solemn in a...

Workers at an Austin tech company dedicated to connecting those in need with social welfare services are trying to unionize. Why it matters: The union effort reflects worker unrest amid a wave of layoffs in the tech industry. In the last year, Austin has seen new union efforts by baristas,...

WASHINGTON — Incomplete written guidelines and penalties that had not been updated since 2016.  Significant turnover and reductions among staff. Changing agency priorities and department probes put “on hold.” Over the past six years, these problems have stifled the U.S. Department of Education’s investigations team that is supposed to probe colleges that misrepresent themselves to […]

The Biden administration effectively banned mining across a swath of land in northern Minnesota, putting a roadblock in front of the Twin Metals mining project for at least two decades. Why it matters: House Republicans are eviscerating the move’s timing because it happened just after Biden struck a deal for...

Treasury Secretary Janet Yellen sees the "tightest labor market we've arguably had in 50 years" amid receding inflation pressure. Yellen is on a 10-day trip to Africa, part of a mission to deepen U.S. ties on the continent, at a time China is also making geopolitical inroads. She spoke with Axios Friday in Nelson Mandela's former house in Johannesburg.

Moments of disruption are an opportune time for companies to rethink their brand and positioning. Due to transformative shifts caused by the COVID-19 pandemic, more than half of U.S. businesses have attempted to reposition themselves within the last three years, according to an UpCity report. Why it matters: Consumers, employees...

An effort to unionize game developers at Activision-Blizzard owned game studio Proletariat Inc. in Boston has stalled, with management and organizers both facing blame. Driving the news: On Tuesday, the Communication Workers of America, which sought to rep the studio’s workers, said the group was no longer seeking a union election with the National Labor Relations Board.

Move over, locavores: A slew of new labels — from "climavore" to "reducetarian" — reflect the trend of people eating with sustainability in mind to reduce their climate "foodprint." Why it matters: Food manufacturers, restaurants, and supermarkets are racing to cater to the zeal for lower-carbon eating choices,...

You may want to hire someone sooner rather than later.

Two new analyses detail how land clearing and degradation are pushing the Amazon rainforest toward a tipping point of no longer being a forest that supports an abundance of life and buffers Earth from climate change. Why it matters: The findings offer insights for policy paths and priorities aimed at...

Bart Knellinger's business began as a simple favor. What started as trying to help his dad, a dentist, advertise his new surgical laser services in the early 2000s turned into a multi-million dollar dental marketing firm. Fast forward: His Clearwater-based company, Progressive Dental, is projected to reach $70 million in...

Hume AI, a small New York startup, has raised $12.7 million on the premise that it's not enough for AI systems to understand the world's information — they also need to understand human reactions. Why it matters: AI startups are all the rage, but most are focused on mimicking...

Over 16 million people have been approved for debt relief under President Biden's student loan forgiveness plan in the less than four weeks that the application was available, the White House announced this week. Why it matters: The program is currently on hold while the Supreme Court considers a legal...

Troubled chip giant Intel posted weaker than expected quarterly sales Thursday along with a financial outlook that fell well short of Wall Street expectations. Between the lines: Intel is facing a confluence of challenges, including a slowing economy, decreased demand for PCs and internal execution challenges. By the numbers:. Fourth...

The murder rates in Trump-voting states from 2020 have exceeded those in Biden-voting states every year since 2000, according to a new analysis by ThirdWay, a center-left think tank. Why it matters: Republicans have built their party on being the crime-fighting candidates, even as murder rates in red states have...

The recent California flooding and severe weather led to $5 billion to $7 billion in total U.S. economic losses, according to new estimates from Moody’s. The big picture: The new estimates show the wide-ranging impact from the historic weather that crippled California with floods, heavy snow and massive rainfall.

I asked ChatGPT, the artificial intelligence tool that's taking the world by storm, to write an essay about venture investing in AI. While it impressively picked up Axios Smart Brevity style, it struggled to remember certain directives, and its writing was quite basic. Why it matters: Despite growing fears of...