Biden’s Student Debt Red Line | Texts Are The New Spam | CIO Next List 2022

Plus: Why Israel Became A Safe Haven For Russian Billionaires

Good morning.

Discussions about student loan forgiveness are back on the table as President Joe Biden signals openness to cancel “some” debts, but without meeting the more ambitious demands of fellow Democrats. We’re also looking at why retailers are resorting to text messages to send ads to customers and listing the top 50 Chief Information Officers. Finally, don’t miss this story looking at why Israeli citizenship is the second most common dual nationality among Russian-born billionaires.

Before we dive in, a quick programming note: due to a holiday, the Daily Dozen won’t be sent on Monday. The next edition will land in your inbox on Tuesday, May 3. Today’s edition also happens to be my last, as I hand over the duty and the privilege of writing this daily newsletter to my colleagues.

In The News Today

The U.S. recorded the first human infection of the highly contagious H5 bird flu virus in the country, state officials and the Centers for Disease Control and Prevention said on Thursday. 

Elon Musk sold more than 4.4 million shares of electric car company Tesla earlier this week for just under $4 billion. Selling shares is one way to build up the funding to buy Twitter—the deal is expected to be funded partially by borrowing against pledged company stock.

Top Take-Aways

Russian-born billionaire Yuri Milner is pledging $100 million to launch a new initiative to help Ukrainian refugees displaced by Russia’s invasion, the latest effort from the Silicon Valley mogul to distance himself from the Kremlin-linked sources that helped him build his fortune more than a decade ago.

President Joe Biden said he's considering canceling "some" debt for federal student loan borrowers, but he won’t be going as far as canceling $50,000 in debt per borrower, which is what a number of top congressional Democrats had been requesting.

Despite missing first quarter revenue estimates, shares of Facebook parent company Meta surged roughly 13% on Thursday after reporting solid user growth, which bounced back from a small decline in the previous quarter.

As emails and social media ads have become less effective, retailers are increasingly turning to texts, the once-private domain reserved for conversations with family and friends—their open rates speak for themselves.

Cerebral’s former vice president of product and engineering is suing the mental health startup, alleging he was fired for speaking up about unlawful and unethical business practices, including overprescribing ADHD medications and failing to report patient data breaches.

The second annual Forbes CIO Next list highlights 50 technology leaders who have embraced a broader vision of their role—a passion for using technology to help shape the future of business.

Today's Must Read

In Case You Missed It

Nikola Inc., which aims to be a leader in battery- and hydrogen-powered heavy trucks, has begun production of electric semis at its new Arizona plant, getting to market at least a year ahead of Elon Musk’s delayed Tesla Semi.

Tips You Can Trust

Sharing content with your network will help you highlight your expertise and enhance your professional brand—but to use time spent on social media most efficiently, ask yourself these four questions first.

No doubt taking on a leadership role is a big and time-consuming responsibility—but don't fall for hustle culture. Here are five ways to avoid being busy just for the sake of being busy and focus on what matters.

Today's Must Watch

A Forbes subscription illuminates, informs and inspires. Join today to gain unlimited access to all our journalism and a front-row seat at exclusive subscriber-only events.