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Photo: Harry How/Getty Images

SpringHill, a new media company co-founded by LeBron James and Maverick Carter, raised $100 million from Guggenheim Partners, UC Investments, Elisabeth Murdoch, and SC.Holdings.

Why it matters: James is viewed as the entrepreneurial role model by many of his NBA peers, helping spark league-wide interest in investing and starting new businesses.

  • Flashback: In 2016 I spoke with Carter about his media ambitions, during a Fortune conference panel that also included Draymond Green and then-Warner Bros Entertainment CEO Kevin Tsujihara. Video here.
  • The bottom line: "SpringHill is named for the Akron apartment complex where James and his mom moved when he was in sixth grade. It consolidates the Robot Co. marketing agency with two other businesses. The first, SpringHill Entertainment, is behind [NBC game show] The Wall and the movie Space Jam: A New Legacy. The second, Uninterrupted LLC, produces [HBO talk show] The Shop as well as Kneading Dough, an online partnership with JPMorgan Chase in which athletes talk about money to promote financial literacy." — Jason Kelly, Bloomberg Businessweek

Go deeper

10 mins ago - Health

Moderna to file for FDA emergency use authorization for COVID-19 vaccine

Photo illustration by STR/NurPhoto via Getty Images

Moderna announced that it plans to file with the FDA Monday for an emergency use authorization for its coronavirus vaccine, which the company said has an efficacy rate of 94.1%.

Why it matters: Moderna will become the second company to file for a vaccine EUA after Pfizer did the same earlier this month, potentially paving the way for the U.S. to have two COVID-19 vaccines in distribution by the end of the year. The company said its vaccine has a 100% efficacy rate against severe COVID cases.

The social media addiction bubble

Illustration: Annelise Capossela/Axios

Right now, everyone from Senate leaders to the makers of Netflix's popular "Social Dilemma" is promoting the idea that Facebook is addictive.

Yes, but: Human beings have raised fears about the addictive nature of every new media technology since the 18th century brought us the novel, yet the species has always seemed to recover its balance once the initial infatuation wears off.

Young people's next big COVID test

Illustration: Eniola Odetunde/Axios

Young, healthy people will be at the back of the line for coronavirus vaccines, and they'll have to maintain their sense of urgency as they wait their turn — otherwise, vaccinations won't be as effective in bringing the pandemic to a close.

The big picture: "It’s great young people are anticipating the vaccine," said Jewel Mullen, associate dean for health equity at the University of Texas. But the prospect of that enthusiasm waning is "a cause for concern," she said.

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