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."

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Coronavirus cases rise in 25 states

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Data: The COVID Tracking Project, state health departments; Map: Andrew Witherspoon, Sara Wise/Axios

New coronavirus infections rose over the past week in half the country.

Why it matters: The U.S. remains largely unable or unwilling to control the spread of the virus.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 a.m. ET: 33,976,447 — Total deaths: 1,014,266 — Total recoveries: 23,644,023Map.
  2. U.S.: Total confirmed cases as of 3 a.m. ET: 7,233,945 — Total deaths: 206,959 — Total recoveries: 2,840,688 — Total tests: 103,939,667Map.
  3. Education: School-aged children now make up 10% of all U.S COVID-19 cases.
  4. Health: Moderna says its coronavirus vaccine won't be ready until 2021
  5. Travel: CDC: 3,689 COVID-19 or coronavirus-like cases found on cruise ships in U.S. waters — Airlines begin mass layoffs while clinging to hope for federal aid
  6. Business: Real-time data show economy's rebound slowing but still going.
  7. Sports: Steelers-Titans NFL game delayed after coronavirus outbreak.
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Trump signs stopgap bill to prevent government shutdown

Senate Majority Leader Mitch McConnel and President Trump arrives at the U.S. Capitol in March. Photo: Samuel Corum/Getty Images

President Trump signed a bill to extend current levels of government funding after funding expired briefly, White House spokesperson Judd Deere confirmed early Thursday.

Why it matters: The move averts a government shutdown before the Nov. 3 election. The Senate on Wednesday passed the legislation to fund the federal government through Dec. 11, by a vote of 84-10.