⚖️ Axios PM: "Just do it"

📈 Plus: Meme stocks skyrocket | Monday, May 13, 2024

Open in app View in browser   Presented By the American Bankers Association   Axios PM By Mike Allen · May 13, 2024 Good Monday afternoon! Today's newsletter, edited by Natalie Daher, is 594 words, a 2.5-min. read. Thanks to Sheryl Miller for copy editing. 💰Tune in tomorrow at 5 p.m. ET/2 p.m. PT for our signature dealmaking summit Axios BFD in San Francisco, including Dan Primack interviewing David Sacks. Livestream here.     1 big thing: Trump foe testifies Michael Cohen testifies on the witness stand with a National Enquirer cover story about Donald Trump displayed on a screen in Manhattan criminal court. Photo: Elizabeth Williams/AP Michael Cohen, former President Trump's onetime fixer, portrayed himself today as a loyalist hellbent on protecting his boss from drama that could undermine his business empire, reputation — and the 2016 presidential campaign. Why it matters: The pivotal testimony in Trump's New York hush money trial could help determine whether the presumed GOP presidential nominee is ultimately convicted of a crime, Axios' Erin Doherty reports. Zoom in: Cohen, the prosecution's star witness, recalled how he feared adult film actress Stormy Daniels' allegations of a sexual encounter with Trump would be "catastrophic" to the campaign. Cohen said Daniels' story, which came after the "Access Hollywood" tape, stood to poison Trump's shot with women voters. Cohen outlined how Trump directed him to "just take care of" the $130,000 payment to Daniels to keep quiet. "Just do it," Trump said, according to Cohen. Cohen testified that Trump signed off on reimbursing him for hush money payments after they met with ex-Trump Organization CFO Allen Weisselberg. 🗞️ Between the lines: Cohen detailed his collaboration with ex-National Enquirer publisher David Pecker in a catch-and-kill scheme to quash negative stories about Trump. Cohen testified that he would "immediately show" Trump covers of issues he was sent before they came out. Go deeper.     2. 💬 New OpenAI model OpenAI CTO Mira Murati during a livestream presentation today. Screenshot: OpenAI OpenAI announced today a new flagship model, GPT-4o ("o" for "omni"), which offers smarter and faster real-time voice abilities. It'll be available in the coming weeks, Axios AI+ author Ina Fried reports. Why it matters: OpenAI, parent company of ChatGPT, is trying to hold its lead in the generative artificial intelligence race as Google, Microsoft and Apple gain edge. In demos, GPT-4o showed considerably better personality and conversational skills than previously. A more major update to the underlying model — the successor to GPT-4 — is due to be unveiled later this year, OpenAI CTO Mira Murati told Axios. 🖼️ The big picture: The OpenAI event came a day before Google's I/O developer conference, which is expected to focus on generative AI. Keep reading.     A message from the American Bankers Association America's banks are empowering consumers to fight back against fraud     Every day, thousands of people fall victim to calls, emails and texts from scammers pretending to be from their bank. America's banks want to help consumers protect themselves. The #BanksNeverAskThat anti-phishing campaign shows you how to spot fraud — one scam at a time. Learn more.       3. Catch me up Data: Yahoo Finance. Chart: Axios Visuals 📈 Meme stocks, including GameStop and AMC, soared today as speculation grew that Keith Gill — aka "Roaring Kitty" of WallStreetBets fame — was getting back in the game, Axios' Pete Gannon reports. 💼 Melinda French Gates resigned from the Bill & Melinda Gates Foundation. She's departing with $12.5 billion to commit to programs for women and children, Axios' Michael Flaherty reports. ⚡ Scoop: Republican Kari Lake is planning her first major ad blitz in her Arizona Senate campaign, with a $10 million buy. Her Democratic opponent, Rep. Ruben Gallego (D-Ariz.), has so far outspent her, Axios' Stephen Neukam reports. 🚨 Israel proposed the Palestinian Authority unofficially operate the Rafah crossing last week, officials told Axios' Barak Ravid.     4. 😆 Live comedy boom Data: Pollstar via Bloomberg. Chart: Axios Visuals The business of laughter has been growing over the last decade — closing in on $1 billion in ticket sales for live comedy shows last year, Axios' Hope King writes. 🔌 The big picture: Social media and streaming platforms have enabled jokes and personalities to reach wider audiences than ever. Netflix's investments in comedy specials have also fed the fanbase. And with the success of "Last Week Tonight With John Oliver" and Jon Stewart's return to "The Daily Show," comedians are encroaching on journalists' turf. Share this story.     A message from the American Bankers Association America's banks are empowering consumers to fight back against fraud     Every day, thousands of people fall victim to calls, emails and texts from scammers pretending to be from their bank. America's banks want to help consumers protect themselves. The #BanksNeverAskThat anti-phishing campaign shows you how to spot fraud — one scam at a time. Learn more.     Thanks for reading! Please invite your friends to join. Are you a fan of this email format? Your essential communications — to staff, clients and other stakeholders — can have the same style. Axios HQ, a powerful platform, will help you do it.   Axios thanks our partners for supporting our newsletters. Sponsorship has no influence on editorial content. Axios, 3100 Clarendon B‌lvd, Arlington VA 22201   You received this email because you signed up for newsletters from Axios. 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