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‘Baby bond’ legislation aims to address wealth gaps in Washington state

GeekWire

The program would allocate $4,000 into an investment pool for every child whose birth is funded by Apple Health, the state’s program for Medicaid recipients. In addition, 70% of African American babies and 79% of Hispanic, Native American and Hawaiian/Pacific Islander babies were born under the program.

.Net 98
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Bezos’ Day 1 Families Fund awards $96M in grants to 32 organizations helping homeless families

GeekWire

A study spanning 2016-2020 found that chronic homelessness had increased at an annual rate of 27% statewide and 42% in Seattle-King County. While the homelessness-related fund has publicly issued four rounds of grants, little has been said about the schools program. million for Portland Homeless Family Solutions, Portland.

Nonprofit 129
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Vancouver, Wash. biotech company Absci files to go public

GeekWire

Eight of the programs are focused on developing cell lines, with one drug discovery program underway, a capability they developed in 2020 according to the filings. Net losses were $14.4 million Series A funding in April 2016. 2020 revenue was $4.7 million, up from $2 million for 2019. The company took in $1.1

Company 132
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Gates-led Breakthrough Energy Ventures raises another $1B for investing in climate innovation

GeekWire

Breakthrough Energy Ventures is led by Microsoft co-founder Bill Gates and publicly launched in December 2016. Last summer, Amazon unveiled its $2 billion Climate Pledge Fund, a venture capital program directed at sustainable technologies that could help it fulfill its promise to become net carbon neutral by 2040.

Energy 144
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Amazon Consumer CEO Jeff Wilke to leave next year, will be replaced by operations chief Dave Clark

GeekWire

.” Wilke, 52, took over Amazon’s North American consumer business in 2007 and was named CEO of Amazon’s Worldwide Consumer business in 2016. He oversees businesses that generated more than $200 billion in net sales in 2019, representing nearly 90% of Amazon’s overall net sales last year.

Chemicals 134
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Amazon says it’s permanently banned 600 Chinese brands for review fraud

The Verge

Amazon banned the practice of incentivized reviews in 2016, but it’s a tricky business: some of these offers are disguised as a VIP testing program or an extended warranty. It’s not clear which other Chinese brands might be included in Amazon’s latest crackdown — and it’s quite possible some of their products will escape Amazon’s net.

Policies 145
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Jeff Bezos’ move out of Washington state sparks questions about wealth taxes

GeekWire

Washington state lawmakers recently passed a controversial 7% capital gains tax for gains of $250,000 and up to fund early-childhood education programs and school construction. With a net worth of $160 billion, Bezos would be impacted as a Washington state resident. Bezos has sold billions in Amazon stock over the past several years.

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