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Illustration: Rebecca Zisser / Axios

Amazon, Berkshire Hathaway and JPMorgan Chase are expected to pick the CEO for their health care partnership within the next two months, according to a source familiar with the process.

Big picture: The candidate pool includes both active and out-of-work CEOs, with both public and private company experience represented.

The source also tells Axios that several media outlets misread the original announcement, which said the independent company would be "free from profit-making incentives and constraints." This does not mean that the company will be a non-profit, as some reported. Instead, it simply won't focus on realizing profits — plowing excess cash back into the company (much like Amazon has been known to do).

  • This profit issue has exposed some cultural fissures between the co-founding partners, as both Berkshire and JPM are said to have struggled a bit to internalize the not-for-profit concept.

While the venture will initially focus on health care coverage for employees of the founding companies, all intentions are to expand to other large enterprises.

Go deeper

The future of weddings is hybrid

Illustration: Sarah Grillo/Axios

The post-pandemic obsession with hybrid events and classrooms and offices is coming to weddings too.

Why it matters: The average wedding in the U.S. costs about $30,000, and the biggest cost comes down to headcount. The pandemic ushered in a new way of celebrating the big day, with the nearest and dearest in attendance and the rest on Zoom — and that model will outlast the pandemic itself.

NBC readies streaming push for Tokyo

NBCUniversal

NBCUniversal will stream some of the most popular Olympics sporting events exclusively on its new streaming service Peacock, executives said Wednesday.

Driving the news: Most notably, USA Men’s Basketball live coverage will be available only to subscribers of Peacock's premium paid tier.

35 mins ago - World

In shift from Netanyahu, Israel tries diplomacy with U.S. on Iran deal

Bennett (R) and Lapid. Photo: Emmanuel Dunand/POOL/AFP via Getty

Israel has been trying to influence the Biden administration's approach to the Iran nuclear deal in a series of high-level meetings with U.S. officials, Israeli officials tell me.

Why it matters: Under former Prime Minister Benjamin Netanyahu, Israel didn't engage with the Biden administration over the deal except to vehemently oppose it and stress that Israel wouldn't be constrained by it. Prime Minister Naftali Bennett and his new government also oppose the deal, but are trying to engage with the U.S. on the issue.