Photo: Mary Altaffer / AP

Current Uber employees eligible to sell shares to SoftBank are only allowed to tender up to 50% of their holdings, while there are no such restrictions on outside investors or former employees, according to multiple sources. The vast majority of Uber employees are not eligible, because they received restricted stock units rather than stock options.

Bigger picture: For years there has been alignment of interests between current and former Uber employees, in terms of stock value. This restriction changes that dynamic.

  • Uber founder and chairman Garrett Camp hasn't publicly said if he'll participate in the tender, but on Thursday night he tweeted that he's "looking to buy a significant amount of digital currency for the first time... I'm not going to trade, just buy and hold." He later deleted the tweet.
  • Eligible shareholders have until Dec. 28 to tender.
  • "Investor slogging," is a term that was used by Uber's former C-suiters to describe how they'd work to get big investors on their side, so they don't end up backing the competition. Wine 'em. Dine 'em. This is how the original conversations with SoftBank began, while both Travis Kalanick and Emil Michael were still in charge.

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Supreme Court rejects GOP push to cut absentee ballot deadline in N.C.

Photo: Robert Alexander/Getty Images

The Supreme Court on Wednesday rejected an attempt by conservatives to shorten North Carolina's deadline for mail-in ballots from nine to three days.

The big picture: This is the latest of a series of decisions over mail-in ballot deadlines in various states.

Hurricane Zeta makes landfall on Louisiana coast as Category 2 storm

A satellite image of Hurricane Zeta. Photo: National Hurricane Center/NOAA

Hurricane Zeta made landfall along the southeastern coast of Louisiana as a Category 2 storm on Wednesday, bringing with it "life-threatening storm surge and strong winds," per the National Hurricane Center.

What's happening: The hurricane was producing maximum sustained winds of nearly 110 mph and stronger gusts.

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Illustration: Sarah Grillo/Axios

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  2. Health: Surge "is real" and not just caused by more tests, Trump's testing czar saysMask mandates help control rise in hospitalizations Some coronavirus survivors have "autoantibodies."
  3. Business: Surge is sinking consumer confidence Testing is a windfall.
  4. World: Europe faces "stronger and deadlier" coronavirus wave France imposes lockdown as Macron warns of overwhelming second COVID wave Germany to close bars and restaurants for a month.
  5. Sports: Boston Marathon delayed as COVID-19 surges MLB to investigate Dodgers player who joined celebration after positive COVID test.