Apr 29, 2020 - Economy & Business

Ex-76ers president Sam Hinkie raises $50 million VC fund

Dan Primack, author of Pro Rata

Photo by Mitchell Leff/Getty Images

Sam Hinkie, best known to NBA fans for helping the Philadelphia 76ers tank their way back into contention, has raised $50 million for a Silicon Valley venture capital firm called Eighty-Seven Capital. He tells Axios to expect seed and early-stage investments, but not with a sports focus.

Background: Hinkie began his career in venture capital and private equity before joining the Houston Rockets front office in 2005. He then spent three years as president and general manager of the 76ers, during which time the team was awful but made key draft picks like Joel Embiid.

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Cities are retooling public transit to lure riders back

Illustration: Sarah Grillo/Axios

After being told for months to stay away from others, the idea of being shoulder to shoulder again in a bus or subway terrifies many people, requiring sweeping changes to public transit systems for the COVID-19 era.

Why it matters: Cities can't come close to resuming normal economic activity until large numbers of people feel comfortable using public transportation.

The policies that could help fix policing

 Illustration: Sarah Grillo/Axios

George Floyd's death has reignited the long and frustrating push to reform a law enforcement system whose systemic flaws have been visible for years.

Why it matters: Solving these problems will require deep political, structural and cultural changes, experts and advocates say — but they also point to a handful of specific policy changes that, while not a cure, would make a difference.

56 mins ago - Health

Coronavirus diagnostic test pricing is relatively tame

A medical professional administers a coronavirus test at a drive-thru testing site run by George Washington University Hospital in Washington, D.C. Photo: Drew Angerer/Getty Images

Anecdotes of labs charging thousands of dollars for coronavirus diagnostic tests are the exception rather than the rule, according to data provided to Axios by a national health insurer.

Yes, but: Some labs that don’t contract with the insurer charged rates that are multiple times higher than what Medicare pays for the diagnostic tests, and in some scenarios, patients may be at risk of receiving surprise bills.