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Photo by Daniel Zuchnik/WireImage

Warren Buffett discussed making a $3 billion investment into Uber, but talks broke down over deal terms, according to Bloomberg.

Bottom line: Backing Uber would have been surprising given Buffett's known devotion to business moats, but he also has a history of backing big brands in crisis.

More from Bloomberg:

The now-dead Uber transaction is reminiscent of the winning bet Buffett’s Berkshire Hathaway made on Goldman Sachs during the financial crisis... lending his imprimatur to the bank when it was reeling after the collapse of rival Lehman Brothers... In exchange, Buffett’s company got preferred stock... Buffett proposed similar terms to Uber in the wake of a crisis of the ride-hailing company’s own making. Buffett would have effectively lent Uber his sterling reputation, along with some capital, in exchange for cushy deal terms.

Bonus: I actually suggested this sort of thing back in 2014, albeit for entirely different reasons.

Go deeper

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day — U.S. tops 88,000 COVID-19 cases, setting new single-day record.
  2. Politics: States beg for Warp Speed billions.
  3. World: Taiwan reaches a record 200 days with no local coronavirus cases.
  4. 🎧Podcast: The vaccine race turns toward nationalism.

Technical glitch in Facebook's ad tools creates political firestorm

Facebook CEO Mark Zuckerberg. Photo: SOPA Images / Contributor

Facebook said late Thursday that a mix of "technical problems" and confusion among advertisers around its new political ad ban rules caused issues affecting ad campaigns of both parties.

Why it matters: A report out Thursday morning suggested the ad tools were causing campaign ads, even those that adhered to Facebook's new rules, to be paused. Very quickly, political campaigners began asserting the tech giant was enforcing policies in a way that was biased against their campaigns.

4 hours ago - Health

States beg for Warp Speed billions

A COVID-19 drive-thru testing center yesterday at Hard Rock Stadium in Miami Gardens. Photo: David Santiago/Miami Herald via AP

Operation Warp Speed has an Achilles' heel: States need billions to distribute vaccines — and many say they don't have the cash.

Why it matters: The first emergency use authorization could come as soon as next month, but vaccines require funding for workers, shipping and handling, and for reserving spaces for vaccination sites.

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