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

of tech, business, and politics.

Presented by Bridge Bank, be bold, venture wisely.

I'm Dan for Mac.

On today's show, Elizabeth Warren's big anti-endorsement and Uber tries to save its business

model.

But first, vaping goes up in smoke.

So President Trump yesterday announced that he wants to ban all flavored e-cigarettes from the U.S.

In an Oval Office statement during which he was flanked by wife Melania, HHS Secretary Alex Azar,

and acting FDA chief Ned Sharpless.

It went to show the White House can move

to ban dangerous products if it sees fit and is sure to create all sorts of strange political

bedfellows. The move also throws a massive monkey wrench into the proposed mega merger between

tobacco companies Philip Morris and Altria, the latter of which spent over $13 billion

recently for a 35% stake in vaping giant

jewel.

The backstory here is that the FDA originally allowed vaping products onto the market

without formal approval, under a theory that they could become a valuable cessation product

for adult smokers.

And while it has worked that way for some, officials soon learned of a huge boom in youth vaping,

particularly thanks to flavored products like Mango.

And that boom matters because vaping pods include lots of nicotine.

...