NEW, from me: Former Google CEO Eric Schmidt is joining another Washington commission, this one on biotechnology. But this time, a person close to him says he will donate the profits from his investments in the biotech space to charity:
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A person close to Schmidt tells me Schmidt will donate 100 percent of the “net profits” from his investment in First Spark Ventures - which includes biotech investments - to charity, in the wake of his being named to the new federal biotech commission.
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The person says Schmidt has not decided yet which charity will benefit.
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Stil, Washington ethics expert Walter Shaub doesn't like the way this commission was set up: “This is a potential horror show,” he told me.
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In October, CNBC reported that Schmidt and entities connected to him made more than 50 investments in artificial intelligence companies while he was chair of a federal commission on AI from 2018 to 2021. There was no indication Schmidt broke any rules or did anything unlawful.
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Ha! That's life in a newsroom for you. But I'm more of a Flyers guy myself.
