Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Denver news in your inbox

Catch up on the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Des Moines news in your inbox

Catch up on the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Minneapolis-St. Paul news in your inbox

Catch up on the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tampa Bay news in your inbox

Catch up on the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Charlotte news in your inbox

Catch up on the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Illustration: Eniola Odetunde/Axios

A Silicon Valley-based nonprofit is creating a talent program called Rise to cultivate and support young people from around the world.

Why it matters: Talent doesn't respect geography — but too often, opportunity does. The new program seeks to identify future leaders wherever they are, which research suggests may be one of the best ways to help the world advance.

What's happening: Schmidt Futures — a philanthropic initiative founded by former Google CEO Eric Schmidt and his wife Wendy — last week opened applications to Rise.

  • The program aims to identify young people between the ages of 15 and 17 who "need opportunity but whose talents can help address problems in their community and the rest of the world," says Eric Braverman, the chief executive of Schmidt Futures.
  • The project is being carried out in collaboration with the Rhodes Trust, which oversees the Rhodes scholarships, as well as a number of other NGO partners from around the world.

How it works: Each year Rise will select 100 global winners and provide them with "individualized support to help harness their talents over the course of their lives," says Cassie Crockett, head of strategy at Schmidt Futures.

  • That might include needs-based scholarships for higher education, funding for internships or social impact enterprises and, when the pandemic allows, in-person meetings and mentorships.

What they're saying: "We are optimistic that the talent in the world is there to solve the problems that face us," says Braverman. "We just need to give them extra help."

By the numbers: Rise's mission dovetails with a growing body of research that suggests cultivating human talent is one of the best ways to advance global knowledge.

  • An IMF working paper from 2018 found that individuals who demonstrate exceptional talent in their teenage years have an "irreplaceable ability to create new ideas over their lifetime."
  • Since talented individuals in poor- and middle-income countries are less likely to work in knowledge fields — largely because the opportunity has been missing — policies that open up that opportunity could “accelerate the advancement of the knowledge frontier.”

The bottom line: We all benefit when talent isn't limited by borders.

Go deeper

Dion Rabouin, author of Markets
27 mins ago - Economy & Business

First glimpse of the Biden market

Photo: Jonathan Ernst-Pool/Getty Images

Investors made clear what companies they think will be winners and which will be losers in President Joe Biden's economy on Wednesday, selling out of gun makers, pot purveyors, private prison operators and payday lenders, and buying up gambling, gaming, beer stocks and Big Tech.

What happened: Private prison operator CoreCivic and private prison REIT Geo fell by 7.8% and 4.1%, respectively, while marijuana ETF MJ dropped 2% and payday lenders World Acceptance and EZCorp each fell by more than 1%.

Mike Allen, author of AM
59 mins ago - Politics & Policy

Biden-Harris, Day 1: What mattered most

President Joe Biden and first lady Dr. Jill Biden arrive at the North Portico of the White House. Photo: Alex Brandon-Pool/Getty Images

The Axios experts help you sort significance from symbolism. Here are the six Day 1 actions by President Biden that matter most.

Driving the news: Today, on his first full day, Biden translates his promise of a stronger federal response to the pandemic into action — starting with 10 executive orders and other directives, Caitlin Owens writes.

2 hours ago - Politics & Policy

Read: Pete Buttigieg's opening statement ahead of confirmation hearing

Pete Buttigieg, President Biden's nominee to be secretary of transportation, in December. Photo: Kevin Lamarque/AFP via Getty Images

Pete Buttigieg, President Biden's nominee to lead the Transportation Department, will tell senators he plans to prioritize the health and safety of public transportation systems during the pandemic — and look to infrastructure projects to rebuild the economy — according to a copy of his prepared remarks obtained by Axios.

Driving the news: Buttigieg will testify at 10 a.m. ET before the Senate Committee on Commerce, Science and Transportation. He is expected to face a relatively smooth confirmation process, though GOP lawmakers may press him on "green" elements of Biden's transportation proposals.