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Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

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Photo: Craig Barritt/Getty Images for Tory Burch Foundation

The coronavirus pandemic could be the tipping point to reverse brain drain from the Midwest, Steve Case, AOL co-founder and venture capitalist, predicted Tuesday at an Axios event.

What he's saying: "So the question that we look for is how can we keep some of that talent in place, slow the brain drain and actually create a bit of a boomerang of people returning? And I think this crisis may be a tipping point. There are a lot of people who are rethinking things and using this as an opportunity to take a step back and reflect."

  • "The next wave of innovation isn't going to be about just apps on your phone. It's going to be about better ways to teach. It's going to be about better ways to deliver health care, food, agriculture."

The big picture: Case also emphasized that nearly 75% of all venture capital funding goes to three states: New York, California and Massachusetts.

  • "We can't lose sight of the fact that startups really create the jobs. ... Essentially all job creation comes from young startups. Not from big companies or small businesses."
  • "As a result, people with that entrepreneurial mindset, not just the tech sector, but other folks, startup sectors tend to go to the coast. So if we want to create jobs everywhere, we want to level the playing field in terms of opportunities."

Go deeper: The coronavirus' domino effect on startup layoffs

Go deeper

Supreme Court agrees to hear challenges to Texas abortion law

Photo: Saul Loeb/AFP via Getty Images

The Supreme Court on Friday agreed to hear two cases challenging Texas' abortion law, which bans the procedure as soon as six weeks into pregnancy, but left the law in place in the meantime.

Why it matters: The court is moving extraordinarily fast on the Texas case, compressing into just a few days a process that normally takes months. And that schedule means the court will take up Texas' ban a month before it hears another major abortion case — a challenge to Mississippi's ban on abortions after 15 weeks.

Officials warn 5 key tech sectors will determine whether China overtakes U.S.

Illustration: Aïda Amer/Axios

U.S. intelligence officials responsible for protecting advanced technologies have narrowed their focus to five key sectors: artificial intelligence, quantum computing, biotechnology, semiconductors and autonomous systems.

Why it matters: China and Russia are employing a variety of legal and illegal methods to undermine and overtake U.S. dominance in these critical industries, officials warned in a new paper. Their success will determine "whether America remains the world’s leading superpower or is eclipsed by strategic competitors."

6 hours ago - Health

Pfizer says COVID vaccine over 90% effective in kids

Photo: Michael M. Santiago/Getty Images

Pfizer and BioNTech said their COVID-19 vaccine was more than 90% effective at protecting children between the ages of 5 and 11 from symptomatic infections from the virus, according to a study posted online by the FDA Friday.

Why it matters: Pfizer is seeking an emergency use authorization to vaccinate children — one of the last groups of Americans still largely ineligible to receive a coronavirus vaccine.

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