Jan 23, 2017

Zuckerberg's latest philanthropy move: acquiring a tech startup

Kia Kokalitcheva

Mark Zuckerberg's philanthropic organization has made its first acquisition: Meta, a startup that uses artificial intelligence to help scientists parse through scientific papers.

Why now? Science and medicine are some of the Chan Zuckerberg Initiative's main areas of focus, so Meta's technology will help it with its goals to improve research and curing diseases. Meta's tools will become free to scientists, the company said in an announcement.

How it's possible: While the Chan Zuckerberg Initiative has philanthropy as its core, the organization itself is a limited liability corporation, not legally registered as a non-profit or foundation. As Zuckerberg explained when he first introduced the organization, this structure gives it much more flexibility in how it spends the billions of dollars Zuckerberg is donating to it. For example, it can acquire a venture-backed technology startup, as it just did with Meta.

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Government tech struggles to dole out coronavirus stimulus cash

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Tech challenges are hampering federal and state government efforts to get funds from the $2 trillion coronavirus relief law into the hands of newly unemployed workers and struggling small businesses who need it.

Why it matters: Many businesses and individuals need the money now for essentials, including meeting payroll and paying rent.

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U.S. coronavirus updates: Death toll passes 9,600

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Recorded deaths from the novel coronavirus surpassed 9,600 in the U.S. on Monday, per Johns Hopkins data. More than 1,000 people in the U.S. have died of coronavirus-related conditions each day since April 1.

Why it matters: U.S. Surgeon General Jerome Adams said on Sunday the coming week will be "the hardest and saddest week of most Americans' lives" — calling it our "our Pearl Harbor, our 9/11 moment."

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  2. U.S.: Total confirmed cases as of 9 a.m. ET: 337,993 — Total deaths: 9,653 — Total recoveries: 17,582 — Map.
  3. Federal government latest: White House adviser Peter Navarro battled Dr. Anthony Fauci in the Situation Room over the use of hydroxychloroquine.
  4. Trump latest: The pandemic may delay a Supreme Court case on the president's tax returns, sparing him from having to release them before the 2020 election.
  5. 2020 latest: Joe Biden says DNC may have to hold a virtual convention.
  6. World update: U.K. Prime Minister Boris Johnson was admitted to the hospital as a "precautionary step."
  7. What should I do? Pets, moving and personal health. Answers about the virus from Axios experts — What to know about social distancing — Q&A: Minimizing your coronavirus risk.
  8. Other resources: CDC on how to avoid the virus, what to do if you get it.

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