Updated Aug 15, 2018

Y Combinator expands to China

Illustration: Sarah Grillo/Axios

Silicon Valley startup accelerator Y Combinator, whose companies have included Airbnb and Dropbox, on Tuesday announced that it is expanding into China. YC also said the new effort will be led by Qi Lu, the former Microsoft executive who recently stepped down as COO at Baidu.

Why it matters: Chinese tech companies have long been accused of copying American peers, but Y Combinator's Sam Altman tells Axios that the paradigm has begun to reverse.

The details: YC China will be based in Beijing, although the first group of companies will be expected to "batch" in San Francisco, Altman tells Axios. The hope is to begin running batches in China by next summer.

  • "I've been trying to recruit [Lu] for years so I got in touch very quickly when he left Baidu."

YC doesn't know if it will raise a separate fund to invest in Chinese companies, with the ultimate answer likely based on if participating companies prefer dollars or yuan.

  • YC initially focused on information technology companies, but has been expanding into areas like biotech. Altman says he's unsure what the Chinese participants will look like, explaining, "We're opening it up now, so we'll see what types of companies we get."

Go deeper

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 a.m. ET: 681,706 — Total deaths: 31,882 — Total recoveries: 145,696.
  2. U.S.: Leads the world in cases. Total confirmed cases as of 8 a.m. ET: 124,763 — Total deaths: 2,191 — Total recoveries: 2,612.
  3. Federal government latest: Trump announces new travel advisories for New York, New Jersey and Connecticut, but rules out quarantine enforcement. Per CDC, those residents should "refrain from non-essential domestic travel for 14 days," with the exception of critical infrastructure industry workers.
  4. State updates: Alaska issues a stay-at-home order — New York tries to nearly triple hospital capacity in less than a month and moves presidential primary to June 23.
  5. World updates: In Spain, over 1,400 people were confirmed dead between Thursday to Saturday.
  6. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk
  7. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Pelosi: "As the president fiddles, people are dying"

House Speaker Nancy Pelosi ramped up her criticism of President Trump's coronavirus response on CNN"s "State of the Union" Sunday, claiming that his downplaying of the crisis has cost American lives.

The big picture: The U.S. is now reporting the most positive coronavirus cases in the world, with 124,686 confirmed as of Sunday morning. Pelosi argued on CNN that Trump's initial denial and subsequent delay in getting life-saving equipment to state governments have been "deadly."

Trump pulls tighter with Biden in nationwide polling

Photos: (L) Jim Watson/AFP via Getty Images; Saul Loeb/AFP via Getty Images

President Trump gained ground on Joe Biden in the WashPost/ABC News poll this month, going from 7 points down in February to a statistical tie — Biden 49% to Trump 47% among registered voters.

Why it matters: Preferences among all adults has Biden standing at 50% and Trump at 44%, though the poll also tests national sentiment and not state-by-state competitions for an Electoral College majority.