Aug 2, 2017

Flying taxi maker raises $30 million

Dan Primack, author of Pro Rata

Volocopter, a German developer of autonomous, electric-powered flying taxis, has raised nearly $30 million in new VC funding from investors like Daimler.

  • Why it matters: Daimler's participation gives some added legitimacy to the electric vertical take-off and landing (eVTOL) market, which already had gained the attention of companies like Uber and Volvo (maybe). And while it may all still sound like a Jetsons fever dream, Volocopter is promising demonstrations in Dubai by year-end.
  • Bottom line: They promised us flying cars and... Well, they're giving us flying cars.

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Axios
Updated 12 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Chris Christie: Wear a mask "or you may regret it — as I did" — Senate Democrats block vote on McConnell's targeted relief bill.
  2. Economy: Why the stimulus delay isn't a crisis (yet).
  3. Health: The pandemic is getting worse again — New York reports most cases since May —Many U.S. coronavirus deaths were avoidable.
  4. Education: Boston and Chicago send students back home for online learning.
  5. World: Spain becomes first nation in Western Europe to exceed 1 million cases — France becomes the second.
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Axios
29 mins ago - Politics & Policy

Biden says he will appoint commission on Supreme Court reform

Photo: Chip Somodevilla/Getty Images

Joe Biden told CBS' "60 Minutes" this week that if elected, he would put together a bipartisan commission to study the federal court system and make recommendations for reform.

Why it matters: Biden has come under pressure to clarify his position on court packing after some Democrats suggested expanding the court if Senate Republicans confirm President Trump's Supreme Court nominee Amy Coney Barrett.

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Dion Rabouin, author of Markets
43 mins ago - Economy & Business

Wall Street still prefers bonds

Illustration: Aïda Amer/Axios. Photo: Sunset Boulevard/Getty Contributor

Investors' return on U.S. corporate bonds has been falling since its August peak, but buying has only accelerated, especially in investment grade bonds that are offering historically low yields.

The state of play: Since hitting its 2020 high on Aug. 4, the benchmark Bloomberg Barclays U.S. bond aggregate has delivered a -2.2% return. (For comparison, the S&P 500 has gained 3.9% during the same time period.)

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