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Data: Insider Intelligence. Note: E-commerce includes Amazon, eBay, Walmart and Etsy; streaming includes TikTok, Hulu, Roku, Pluto, Tubi, Spotify, Pandora and iHeartMedia; tech includes Microsoft, Yelp and Verizon/Yahoo; social media includes Snap, Twitter, Pinterest and Reddit. Grey space indicates all other U.S. digital advertising. Chart: Axios Visuals Google and Meta, known together in the ad

Mark last week as the end of the social networking era, which began with the rise of Friendster in 2003, shaped two decades of internet growth, and now closes with Facebook's rollout of a sweeping TikTok-like redesign. The big picture: Under the social network model, which piggybacked on the rise of smartphones to mold billions of users' digital experiences, keeping up with your friends' posts ser

The U.S. video-conferencing company Zoom closed the account of a group of prominent U.S.-based Chinese activists after they held a Zoom event commemorating the 31st anniversary of the June 4 Tiananmen Square Massacre, Axios has learned. Why it matters: Zoom has faced growing scrutiny over security concerns and its ties to China.Update: A Zoom spokesperson confirmed to Axios that the account had be

Facebook has agreed to buy Giphy, the popular platform of sharable animated images, Axios has learned from multiple sources. The total deal value is around $400 million. Background: A source close to the situation says that the two companies first began talking prior to the pandemic, although that was more about a partnership than an acquisition. Giphy is expected to retain its own branding, with

SoftBank Vision Fund has walked away from investing in several startups, months after submitting term sheets worth hundreds of millions of dollars and promising that closing delays were only temporary, Axios has learned. Why it matters: This is highly unusual behavior, even for the idiosyncratic SoftBank, and threatens its ability to invest in highly sought-after companies. SoftBank, which has inv

Google pop-up shop in the SoHo, New York City. Photo: Spencer Platt/Getty Images CNBC reports. Why it matters: Many jobs have historically required employees to hold college degrees even if they are not relevant or needed. This is connected to an effort to improve diversity and make it easier for those that attend coding boot camps or pursue other non-traditional college paths to be hired.

Google made headlines by demonstrating an AI-powered voice assistant that made haircut and restaurant reservations, without betraying that it isn't human. But we have questions about the demos, which purported to be recordings of calls with real businesses. Why it matters: Google told both developers and investors that it has created something remarkable, thus increasing its profile and value. Whe

Geoffrey Hinton harbors doubts about AI's current workhorse. (Johnny Guatto / University of Toronto) In 1986, Geoffrey Hinton co-authored a paper that, three decades later, is central to the explosion of artificial intelligence. But Hinton says his breakthrough method should be dispensed with, and a new path to AI found. Speaking with Axios on the sidelines of an AI conference in Toronto on Wednes