Welcome to Axis ProRata, where we take just 10 minutes to get you smarter on the

collision of tech, business, and politics. Sponsored by Silicon Valley Bank. Ideas Bank here.

I'm Dan Pramack. On today's show, Blackstone Betts Again on Vegas and why President Trump may have a fictional

economic advisor. But first, what we learned from last night's Democratic debate. So, last

evening, a dozen presidential hopefuls spent three hours on stage in Ohio for CNN. They were

mostly unified on impeaching President Trump. They rehashed old disagreements on health care. They took a more

strident tone against big tech, and they didn't get asked much of all on trade, immigration,

climate, or racial injustice. Now, from a horse race perspective, it was pretty clear that the

balance of primary power has shifted from Joe Biden to Elizabeth Warren, at least in the minds of other

candidates who made Warren their preferred pinata, with Warren usually handling it pretty well.

Outside of her notable unwillingness to say that Medicare for all would include middle class

tax increases to pay for it, even if overall middle class spending were to decrease.

Other candidates, particularly Pete Buttigieg, went hard after Warren, not only to dent her candidacy,

but also to become a more viable alternative to Biden for those more centrist voters who think

the VIP has lost a step.

The bottom line is that for those who are already paying attention, the debate didn't offer

much new in terms of policy or rhetoric.

Well, maybe except for a couple candidates expressing openness to Andrew Yang's universal basic income plan.

But overall, it was a reminder that Democrats will focus their campaign on defeating incumbents,

not just the one in the White House, but also the ones in Silicon Valley and on Wall Street.

In 15 seconds, we'll be joined

by Axios political reporter Lexi McCamond, who was in Ohio for the debate. But first,

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