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Recode Daily: Senate Republicans finally reveal their replacement for the Affordable Care Act

Plus, Trump gets hands-on time with a drone, and Tesla wants to equip its cars with a proprietary streaming music service.

Senate Republicans finally revealed their plan to repeal and replace the Affordable Care Act. Here’s a good explanation of the Better Care Reconciliation Act, which asks low- and middle-income Americans to spend significantly more for less coverage.
[Sarah Kliff /]

President Trump got some hands-on time with a drone during Wednesday’s White House meeting with tech execs from wireless giants, drone makers and VC firms. The main agenda was urging the Trump administration to eliminate federal restrictions, but as one drone company CEO in attendance said, the drone industry needs more regulation, not less. Meanwhile, the market for industrial robots that make other machines like cars and laptops is expected to triple in less than 10 years.
[Tony Romm / Recode]

More than a thousand Uber employees circulated an internal email petition to ask the board to let CEO Travis Kalanick return from resignation. Meanwhile, Alphabet says in its continuing lawsuit against Uber that Kalanick knew that one of his top executives — a former Alphabet self-driving tech engineer — had taken proprietary Alphabet information, and that Kalanick had ordered its destruction.
[Johana Bhuiyan / Recode]

Tesla is talking to the major music labels about creating its own streaming music service. Elon Musk’s company wants to license a proprietary music service that would come bundled with its cars, which already come equipped with a high-tech dashboard and internet connectivity.
[Peter Kafka and Johana Bhuiyan / Recode]

Nikes announcement that it will sell its sneakers directly through Amazon cost competing sports retailers more than $1 billion in market value in just one day. And since Amazon announced its acquisition of Whole Foods last Friday, supermarket rivals have maintained a combined market loss of more than $21 billion.
[Rani Molla / Recode]

Alphabet executive chairman Eric Schmidt and GV founder Bill Maris are throwing their connections behind a new nonprofit startup aimed at promoting tech entrepreneurship in Southern California, with a focus on health and medical technology. Separately, Google is partnering with the Department of Homeland Security on a $1.5 million contest to find an algorithm that would identify concealed objects in images captured by airport body scanners.
[Tess Townsend / Recode]

Top stories from Recode

When Silicon Valley startups want to sell ads they head to the South of France.
Glamorous Cannes is now a routine stop on the road to IPO.

Sneaker enthusiast (and former Twitter COO) Adam Bain joined the board of sneaker startup GOAT.
Bain says he wants to learn more about marketplaces and commerce.

YouTube wants to make it easier for video creators to film in VR.
A new format lets you shoot as you normally would, and the video can be viewed on a normal screen and with a virtual reality headset.

The Amazon of China invested $400 million into one of the most valuable fashion startups.
The deal will help London-based Farfetch expand its Chinese operations.

Meditating is the new jogging, says Headspace CEO Rich Pierson on the latest episode of Too Embarrassed to Ask.
The Headspace meditation app has 16 million downloads, and Pierson wants people to use tech in a healthy way.

This is cool

The rainbow reaction
June is LGBT Pride month in many cities around the world, and Facebook’s restricted rollout of a Pride-reaction rainbow is drawing criticism from some who think the company is playing into the hands of repressive governments.
[Alex Kantrowitz / BuzzFeed News]

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