Mark Zuckerberg’s withdrawal of plans to excrete an inferior class of Facebook shares onto the investing hoi polloi should go down as an extraordinary moment in contemporary American capital markets. But the social network founder’s climbdown is not an unalloyed victory for democratic capitalism. Facebook is facing other, existential, challenges that almost certainly rendered Zuckerberg’s decision an expedient one. Read more.
Democratic presidential hopeful Elizabeth Warren told a room full of liberal activists on Saturday that the party needs to fully embrace polices such as higher taxes on the wealthy, wiping out student loan debt and criminal justice reform if they want to win the White House. Read more.