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 the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

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!

Want a daily digest of the top Denver news?

Get a daily digest of 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!

Want a daily digest of the top Des Moines news?

Get a daily digest of 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!

Want a daily digest of the top Twin Cities news?

Get a daily digest of 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!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of 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!

Want a daily digest of the top Charlotte news?

Get a daily digest of 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: Axios / Lazaro Gamio

Two former Uber executives are quietly operating an investor syndicate to invest in startups led by their former colleagues, Axios has learned.

Bottom line: There should be plenty of deal-flow, as Uber is known for encouraging its employees to innovate.

  • It's called Moving Capital, and also invests in two-sided marketplace and transportation startups. Initial portfolio companies include Lime and Cargo.
  • The co-founders are Josh Mohrer (launched and led NYC) and William Barnes (led West Coast ops). Mohrer also was briefly a partner at Tusk Ventures, where he led the firm's Series A and Series B investments in Bird.
  • The private syndicate, operated via AngelList, consists of around 100 Uber alums (many of whom have plenty of cash, thanks to the SoftBank tender). Around half of them have been active so far.
  • Don't be surprised if Moving Capital soon evolves from a private AngelList syndicate to a more traditional VC fund structure.

Last week I was chatting with some VCs about the relative dearth of Seattle startups, expressing surprise that neither Amazon nor Microsoft have really become founder factories.

A few of them suggested that lots of startups would likely come out of Uber, due to to a highly-entrepreneurial environment (particularly on the ops side). As one explained:

"No matter what you think about Uber's culture, everyone there will tell you that team leaders were basically running mini-companies, with lots of ability to try new things."

Go deeper

29 mins ago - World

Biden backs Gaza ceasefire for first time in call with Netanyahu

Biden with Netanyahu in 2010. Photo: Debbi Hill/Pool/ Getty Images

President Biden expressed support for a ceasefire between Israel and Hamas in a call on Thursday evening with Israeli Prime Minister Benjamin Netanyahu, the White House said in a statement.

Why it matters: This is the first time since the beginning of the crisis last Monday that Biden or anyone in his administration has publicly backed a ceasefire. It will increase pressure on Israel to seek an end to the conflict, which Netanyahu has insisted will continue until Hamas' ability to attack Israel is further degraded.

2 hours ago - World

Schumer: "I want to see a ceasefire"

Photo: Sarah Silbiger/Bloomberg via Getty Images

Senate Majority Leader Chuck Schumer (D-N.Y.) told reporters Monday he wants to "see a ceasefire reach quickly and mourn the loss of life."

Why it matters: Schumer is a staunch defender of Israel and has maintained that Israel should be able to defend itself.

5 hours ago - Health

Biden administration to send 20 million U.S.-authorized vaccine doses abroad

Photo: Ole Spata/Picture Alliance via Getty Images

President Biden will send an additional 20 million doses of coronavirus vaccines to other countries by the end of June, including shots authorized by the FDA for use in the U.S., White House press secretary Jen Psaki said Monday.

Why it matters: It will be the first time the U.S. has sent Pfizer, Moderna, and Johnson & Johnson vaccine doses abroad. The administration previously announced plans to export 60 million doses of the AstraZeneca vaccine, which has not been authorized domestically.