Jan 23, 2018

Steve Schwarzman on SoftBank's "particular place"

Dan Primack

Blackstone Group CEO Steve Schwarzman. Photo by Ting Shen/Getty Images

Blackstone Group CEO Steve Schwarzman oversees the world's largest private equity funds. Or at least he did, until Japan's SoftBank Group last year raised a record $100 billion for its tech-focused Vision Fund.

This morning Scwarzman — whose firm isn't particularly known for tech investing — was asked on CNBC about SoftBank and its founder Masayoshi Son:

"[Tech] often comes with no earnings, so if you're going to finance the expansion of an industry that often doesn't earn anything, you're going to need large amounts of money to the extent you're a believer... I understand how he's in a particular place."

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Alexi McCammond

Biden says he's starting VP search this month

Joe Biden. Photo: Scott Olson / Staff

Joe Biden said he's spoken to Sen. Bernie Sanders and former President Barack Obama about selecting a running mate — and that he wants to build "a bench of younger, really qualified people" who can lead the nation over the course of the next four presidential cycles.

Driving the news: Biden spoke about the state of the 2020 race during a virtual fundraiser on Friday night that was opened to pooled coverage.

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Gigi Sukin, Alayna Treene

Trump ousting intelligence community inspector general

Michael Atkinson, inspector general of the intelligence community. Photo: Bill Clark / Getty Images

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Axios

Coronavirus dashboard

Illustration: Axios Visuals

  1. Global: Total confirmed cases as of 10 p.m. ET: 1,097,909 — Total deaths: 59,131 — Total recoveries: 226,106 — Map.
  2. U.S.: Total confirmed cases as of 10 p.m. ET: 277,828 — Total deaths: 7,406 — Total recoveries: 9,772 — Map.
  3. Public health latest: The CDC is recommending Americans wear face coverings in public to help stop the spread of the coronavirus. The federal government will cover the costs of COVID-19 treatment for the uninsured, Health and Human Services Secretary Alex Azar said.
  4. 2020 latest: "I think a lot of people cheat with mail-in voting," President Trump said of the 2020 election, as more states hold primary elections by mail. Montana Gov. Steve Bullock said Friday that every county in the state opted to expand mail-in voting for the state's June 2 primary.
  5. Business updates: America's small business bailout is off to a bad start. The DOT is urging airlines to refund passengers due to canceled or rescheduled flights, but won't take action against airlines that provide vouchers or credits.
  6. Oil latest: The amount of gas American drivers are consuming dropped to levels not seen in more than 25 years, government data shows. Trump is calling on the Energy Department to find more places to store oil.
  7. Tech updates: Twitter will allow ads containing references to the coronavirus under certain use cases.
  8. U.S.S. Theodore Roosevelt: Senators call for independent investigation into firing of Navy captain.
  9. What should I do? Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk.
  10. Other resources: CDC on how to avoid the virus, what to do if you get it.

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