Photo: Steve Jennings/Getty Images for TechCrunch

Reid Hoffman, the venture capitalist and LinkedIn founder, appears regretful for his role in enabling Jeffrey Epstein's post-conviction rehabilitation.

What he's saying: In an email to Axios, Hoffman writes, "The abuse described by Jeffery Epstein’s survivors is abhorrent, horrific, and disgusting. I am hopeful survivors can attain justice and support, and the communities damaged by these events can begin healing."

My few interactions with Jeffrey Epstein came at the request of Joi Ito, for the purposes of fundraising for the MIT Media Lab. Prior to these interactions, I was told by Joi that Epstein had cleared the MIT vetting process, which was the basis for my participation. My last interaction with Epstein was in 2015. Still, by agreeing to participate in any fundraising activity where Epstein was present, I helped to repair his reputation and perpetuate injustice. For this, I am deeply regretful.
Recent reporting has made clear allegations of willful deception across multiple departments at MIT. Wherever this is true, this is completely unacceptable and needlessly tarnishes the work of MIT faculty and students. I support a thorough, independent investigation into Jeffrey Epstein’s connections and am hopeful that the investigation announced by President Rafael Reif exposes the flaws in the existing process and establishes new clear safeguards moving forward.

Hoffman invited both former MIT Media Lab director Joi Ito and Epstein to an August 2015 dinner in Palo Alto with Elon Musk, Mark Zuckerberg and Peter Thiel. He tells Axios that he invited Epstein at Ito's behest, and only because Ito vouched for the convicted criminal, saying that he had successfully cleared MIT's vetting process.

  • Hoffman funded the Media Lab's Disobedience Award, given to "individuals and groups who engage in responsible, ethical disobedience aimed at challenging norms, rules, or laws that sustain society’s injustices." Last year the award went to #MeToo leaders.
  • The Disobedience Award takes the form of a glass orb fabricated by star MIT professor Neri Oxman. Hoffman received a similar orb. So did Epstein. Sources say that Oxman, who did not respond to requests for comment, received a significant amount of MIT's Epstein-linked money.

The big picture: Hoffman, here, is blaming Ito for vouching for Epstein. MIT president Rafael Reif is doing the same thing, in a letter where he talks about how his office "accepted Joi's assessment" of Epstein.

Go deeper:

Go deeper

Coronavirus surge punctures oil's recovery

Illustration: Aïda Amer/Axios

The growth of coronavirus cases is "casting a shadow" over oil's recovery despite the partial demand revival and supply cuts that have considerably tightened the market in recent months, the International Energy Agency said Friday.

Why it matters: IEA's monthly report confirms what analysts have seen coming for a long time: Failure to contain the virus is a huge threat to the market rebound that has seen prices grow, but remain at a perilous level for many companies.

2 hours ago - Sports

Big Ten's conference-only move could spur a regionalized college sports season

Illustration: Aïda Amer/Axios

The Big Ten announced Thursday that it will move all fall sports to a conference-only schedule.

Why it matters: This will have a snowball effect on the rest of the country, and could force all Power 5 conferences to follow suit, resulting in a regionalized fall sports season.

The second jobs apocalypse

Illustration: Aïda Amer/Axios

This week, United Airlines warned 36,000 U.S. employees their jobs were at risk, Walgreens cut more than 4,000 jobs, Wells Fargo announced it was preparing thousands of terminations this year, and Levi's axed 700 jobs due to falling sales.

Why it matters: We have entered round two of the jobs apocalypse. Those announcements followed similar ones from the Hilton, Hyatt, Marriott and Choice hotels, which all have announced thousands of job cuts, and the bankruptcies of more major U.S. companies like 24 Hour Fitness, Brooks Brothers and Chuck E. Cheese in recent days.