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Illustration: Aïda Amer/Axios

Most venture capitalists aim to be "value-add" for their founders, providing advice and services beyond their primary role as financiers.

Why it matters: Freestyle Capital today is pushing this trend into mental health treatment.

  • The San Francisco-based firm will begin by offering two programs to all of its portfolio founders, free of charge.
  • One is a three-month digital program for treating depression, anxiety and burnout ⁠— provided by Freestyle portfolio company Meru Health.
  • The other is a one-week, intensive on-site program offered by a nonprofit called The Hoffman Institute.

What they're saying: Freestyle partner Josh Felser, who previously co-founded companies, tells Axios that he's publicly announcing the initiative in order to persuade other venture firms to follow suit:

"Founders say that they often don't have the money for therapy or have the time. And even if they had both, they wouldn't know where to go. I do think there's a growing realization that it's OK for a founder to get help, but the only two therapists I know are fully booked, so when founders do ask, I can't even recommend someone. ... So we did research to find two catalytic change options that address the time factor and we're taking care of the cost factor."

The big picture: This is different from executive "coaching" (which also is underutilized, as we discussed in the context of Away).

  • Instead, it's a recognition that while founders are in positions of power, many of them also are under exceptional stress that can metastasize into everything from physical ailments to poor decision-making — things that can put an entire company, and its employees, at risk.

The bottom line: This is one of those times when being a "copycat investor" would be celebrated, not criticized.

Go deeper: Corporate America opens up on silencing mental health stigma

Go deeper

1 hour ago - Health

Fauci says he accepted Biden's offer to be chief medical adviser "on the spot"

The government's top infectious-disease expert Anthony Fauci said Friday that he "absolutely" will accept the offer from President-elect Joe Biden to serve as his chief medical adviser, telling NBC's "Today" that he said yes "right on the spot."

Why it matters: President Trump had a contentious relationship with Fauci, who has been forced during the pandemic to correct many of the president's false claims about the coronavirus. Biden, meanwhile, has emphasized the importance of "listening to the scientists" throughout his campaign and transition.

Updated 3 hours ago - Politics & Policy

Highlights from Biden and Harris' first joint interview since the election

Joe Biden. Photo: Mark Makela/Gettu Images

President-elect Joe Biden and Vice President-elect Kamala Harris sat down with CNN on Thursday for their first joint interview since the election.

The big picture: In the hour-long segment, the twosome laid out plans for responding to the pandemic, jump-starting the economy and managing the transition of power, among other priorities.

The quick FCC fix that would get more students online

Illustration: Sarah Grillo/Axios

As the pandemic forces students out of school, broadband deployment programs aren't going to move fast enough to help families in immediate need of better internet access. But Democrats at the Federal Communications Commission say the incoming Biden administration could put a dent in that digital divide with one fast policy change.

State of play: An existing FCC program known as E-rate provides up to $4 billion for broadband at schools, but Republican FCC chairman Ajit Pai has resisted modifying the program during the pandemic to provide help connecting students at home.