Sep 25, 2017

Jamie Dimon: invest in the Rust Belt

Erica Pandey, author of @Work

Jamie Dimon in Detroit. Photo: Rick Osentoski / Invision for JPMorgan Chase Co. via AP

Jamie Dimon stressed the importance of investing in the middle of the country at Fortune and TIME's CEO Initiative Monday. "Lots of communities are suffering. We need to do more to create jobs and opportunities ... 85% of jobs are private enterprise," Dimon said. In 2014, J.P. Morgan Chase invested $100 million in Detroit's entrepreneurs and small businesses.

The bottom line: 75% of U.S. venture capital dollars go to 3 states, per Revolution CEO Steve Case. Lack of investment in the middle of the country has left large parts of America behind, Axios' Kim Hart reports.

More from Dimon's interview:

  • "We've kind of become the hometown bank in Detroit and earned a lot of respect."
  • "Go on the morning shows. Four million people watch, and they don't know the good things you're doing," Dimon told CEOs.
  • J.P. Morgan is spearheading a Veteran Jobs Mission. Through it, 300 companies have hired 400,000 vets, and the goal is to hire 1 million.
  • This month, the company pledged $40 million and $10 million for development of the poorest neighborhoods in Chicago and DC, respectively.

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Minnesota activates National Guard amid fallout from George Floyd death

A portrait of George Floyd hangs on a street light pole in Minneapolis. Photo: Stephen Maturen/Getty Images

George Floyd, 46, moved to Minnesota to improve his life and become his "best self," but instead, he is dead because of Minneapolis police.

The latest: Minnesota Gov. Tim Walz declared a state of emergency and activated the state's National Guard in response to violent clashes over the past two days between police and protesters in the Twin Cities.

Trump signs executive order targeting protections for social media platforms

President Trump signed an executive order on Thursday designed to limit the legal protections that shield social media companies from liability for the content users post on their platforms.

What they're saying: "Currently, social media giants like Twitter receive an unprecedented liability shield based on the theory that they are a neutral platform, which they are not," Trump said in the Oval Office. "We are fed up with it. It is unfair, and it's been very unfair."