Mark Zuckerberg and his wife Priscilla Chan have donated $25 million through their foundation to a philanthropic effort organized by Bill Gates to explore new coronavirus treatments.
The Gates Foundation donated $50 million last week to what it’s calling the “COVID-19 Therapeutics Accelerator.” The initiative brings together life sciences companies to collaborate on the development of new vaccines, diagnostics, and treatments for COVID-19.
“The Therapeutics Accelerator will enable researchers to quickly determine whether or not existing drugs have a potential benefit against COVID-19,” Chan and Zuckerberg said in a press release. “We hope these coordinated efforts will help stop the spread of COVID-19 as well as provide shared, reusable strategies to respond to future pandemics.”
The two donations are the largest from tech billionaires since the coronavirus outbreak. Wellcome and Mastercard are supporting the effort as well.
The goal of the initiative is to either develop a new drug or adapt an existing treatment that it could help distribute alongside partnering pharmaceutical companies.
The 15 companies participating in the project kicked off the effort by sharing their proprietary libraries of molecular compounds that have some history of being tested with COVID-19.
The lineup includes big names in biotech such as Johnson & Johnson, Merck, Pfizer, Sanofi, and Bristol-Myers Squibb.
Elon Musk will have someone to answer to at Tesla. The electric carmaker announced late Wednesday that Robyn Denholm would take Musk's place as chair of the board. Denholm, a Tesla board member, will leave her job as chief financial officer of Telstra, an Australian telco giant and inherit Musk's chairman duties full-time in six months when her notice period is complete.
Ford, the century-old automaker that all but invented the concept of the modern car, said it would acquire e-scooter start-up Spin as part of a broad re-positioning of the company as a mobility services provider in an era when car ownership is but one of many options for getting around. Cheddar discussed the strategy behind the acquisition with Sunny Madra, the vice president of tech incubator Ford X, and Euwyn Poon, the co-founder and president of Spin.
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Adrian Lovett, president and CEO of the non-profit Web Foundation, told Cheddar's Alex Heath why the rate of people getting online for the first time is becoming stagnant.
Services aren't just for tech companies ー retailers are also latching onto the recurring revenue trend. And for industry vet Office Depot, the services model promises serious growth. "We are not a retailer, we are an omni-channel company," Office Depot CEO Gerry Smith told Cheddar, underscoring the importance of services revenue and Office Depot's business-to-business division.
Microsoft will continue to provide technology to U.S. agencies and the military, despite the objections raised by employees over how the products are being used, specifically with regard to immigration and border control. "We will be proactive in using our voice," said Microsoft President Brad Smith, speaking to Cheddar from the 2018 Web Summit in Lisbon, Portugal. "We think we'll be more persuasive if we're engaged than if we withdraw."
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Political fixer-turned VC Bradley Tusk doesn't think it's sufficient to just bring voters to the polls ー he wants to bring the polls to them. "We know, fundamentally, democracy works when a lot of people vote, and it really doesn't work when very few people vote," Tusk told Cheddar on Tuesday.
Incoming Intuit CEO Sasan Goodarzi, currently the company's EVP of small business, tells Cheddar that the software company plans to lean on its open platform and innovations in artificial intelligence to put more money in the pockets of its customers. "There is not enough we could do for our customers," Goodarzi said Tuesday.
Cheddar's Tanaya Macheel breaks down the crypto wallet firm Blockchain's newest ventures, including its giveaway of $125 million in tokens.
