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☆ Former Google CEO reportedly sold his Atherton mansion for $22.5 million. See inside the stunning estate.
▼ + stars: | 2024-06-19 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

The property, located in the most expensive US zip code, includes a main home and a guest house. Schmidt, who served as Google and Alphabet chairman, has a net worth of around $23.9 billion. The sale closed a month later, Mansion Global reported, with a price of $22.5 million. The 5,265 square-foot listing includes a main home and a guest house in the most expensive zip code in the US. Schmidt's current net worth is estimated at around $23.9 billion, according to Forbes' ranking.

Persons: Eric Schmidt, Google's, Atherton, Schmidt, —, Wendy, Forbes Organizations: Service, Wall, Business Locations: Atherton , California

☆ Eric Schmidt is poaching from Apple, SpaceX, and Google for his secretive AI military drone project
▼ + stars: | 2024-06-06 | by ( Geoff Weiss | ) www.businessinsider.com time to read: +1 min

Eric Schmidt's AI drone company is poaching from Apple, SpaceX, and Google, according to Forbes. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementEric Schmidt's AI-powered military drone venture is quietly arming up. Forbes reports the ex-Google CEO's secretive company has poached roughly a dozen employees from Apple, SpaceX, Google, and more over the past several months. It's also sourced key candidates from the federal government and Schmidt's own nonprofit organization, Schmidt Futures, according to Forbes.

Persons: Eric Schmidt's, — Organizations: Apple, SpaceX, Google, Forbes, Eagle, Service, Schmidt, Business Locations: Valley, Ukraine

☆ A Ukrainian commander said new troops are trained so badly they have to learn basic skills on the front lines like shooting a gun
▼ + stars: | 2024-06-03 | by ( Matthew Loh | ) www.businessinsider.com time to read: +6 min

The 93rd Mechanized Brigade has seen some of the heaviest fighting in the war, including the battles for Bakhmut, Kharkiv, and Adviivka. One newly arrived soldier, identified by call sign Val of the 93rd Mechanized Brigade, told the outlet he was assigned to the front line with a day's notice. AdvertisementAnother soldier from the 42nd Mechanized Brigade in Kharkiv told the outlet that "everything is learned on the spot." As for new recruits, Ukraine's training centers are barely equipped to provide soldiers with basic training, per the Post. AdvertisementThe UK hosts trainings for Ukrainian troops under its Operation Interflex program.

Persons: —, Schmidt, Mechanized Brigade Kholodny Yar, ANATOLII STEPANOV, Val, France —, HENRY NICHOLLS Organizations: Service, Washington Post, Business, Kyiv, 93rd Mechanized Brigade, Bakhmut, Mechanized Brigade, Getty, 42nd Mechanized Brigade, Ukraine's Ministry of Defense, Ukraine, Atlantic Treaty Organization, Kremlin, NATO, for Locations: Ukraine, Kharkiv, Ukrainian, Bakhmut, Donetsk, AFP, Chasiv Yar, Kyiv, Baltic States, France, Russia, Washington

☆ Democrats wanted an agreement on using artificial intelligence. It went nowhere
▼ + stars: | 2024-06-03 | by ( ) www.cnbc.com time to read: +8 min

The Democratic National Committee was watching earlier this year as campaigns nationwide were experimenting with artificial intelligence. It asked campaigns to check work by AI tools, protect against biases and avoid using AI to create misleading content. It sent the proposal in March to the five Democratic campaign committees that seek to elect House, Senate, gubernatorial, state legislative and state attorneys general candidates to office, according to the draft agreement. The Democratic committee had hoped the statement would be signed by Chair Jaime Harrison and the leaders of the other organizations. Spokesmen from the Democratic Governors Association and Democratic Legislative Campaign Committee declined to comment.

Persons: Joe Biden, Hannah Muldavin, Muldavin, Jaime Harrison, Sam Altman, Eric Schmidt, Altman, Biden, Dustin Moskovitz, Reid Hoffman, – Organizations: White, Democratic National Committee, The Associated Press, Democratic, DNC, Republican National Committee, Google, Federal, Commission, Facebook, LinkedIn, Democratic Congressional Campaign, General, Associated Press, Democratic Governors Association, Democratic Legislative Locations: Washington , DC

Here's how much it costs to own a superyacht — and what that money is going toward. Billionaires like Jeff Bezos, Mark Zuckerberg, and Steve Jobs each spent nine figures on their megayachts. Some superyachts have space for dozens of crewmembers, including a chef, engineer, and masseuse for the guests onboard. If a superyacht has a support yacht — or a support superyacht, in Bezos' case — expect to pay another 10% of that boat's price annually. "If you charter the boat for 50 days a year, it's going to help a lot," Anders Kurtén, the CEO of brokerage firm Fraser Yachts, told BI.

Persons: you'd, Jeff Bezos, Mark Zuckerberg, Steve Jobs, Jeffrey Beneville, Eric Schmidt's, Matthew Fleissig, NFP's Beneville, it's, Anders Kurtén, Beneville Organizations: Palm, NFP, BI, Yachts Locations: South China, Russian, San Diego

☆ Eric Schmidt was supposed to buy a yacht once owned by a Russian oligarch. Here's the one he bought instead.
▼ + stars: | 2024-05-07 | by ( Madeline Berg | ) www.businessinsider.com time to read: +3 min

Eric Schmidt backed out of buying the Alfa Nero megayacht last year. The ship — one of the biggest yachts owned by a tech billionaire —was listed for about $161 million. AdvertisementLast year, Eric Schmidt made waves in the yachting community when news came out that he was the soon-to-be owner of the Alfa Nero, an 81-meter megayacht that belonged to a sanctioned Russian oligarch. But as the sale proceedings went on, legal challenges piled up as people laid claim to Alfa Nero, and Schmidt backed out of the deal. In September 2023, just three months after he won the Alfa Nero auction, the billionaire purchased Kismet, renaming her Whisper, Business Insider has learned.

Persons: Eric Schmidt, Alfa Nero megayacht, Shahid Khan, —, Alfa Nero, Schmidt, Marcus Brandt, Shahid Khan — Organizations: Alfa, Service, Google, Bloomberg, Getty, Jacksonville Locations: Russian, Antigua, Barbuda, Russia, Ukraine, Caribbean

☆ Google's former CEO lists $24.5 million mansion in most expensive ZIP code in the US
▼ + stars: | 2024-05-04 | by ( Ana Altchek | ) www.businessinsider.com time to read: +1 min

Eric Schmidt, Google's ex-CEO, is selling his Atherton mansion for $24.5 million. The property, located in the most expensive US zip code, includes a main home and a guest house. AdvertisementGoogle's former CEO, Eric Schmidt, and his wife, Wendy, are selling their Atherton mansion for $24.5 million. Schmidt's current net worth is estimated at around $23.9 billion, according to Forbes' ranking. Since leaving his role as CEO, Schmidt turned his focus to tech investments and philanthropy.

Persons: Eric Schmidt, Google's, Atherton, Schmidt, —, Wendy, Forbes Organizations: Service, Google Locations: Atherton

☆ Photos show never-before-seen sea creatures living in an underwater mountain that dwarfs the Himalayas
▼ + stars: | 2024-02-22 | by ( Jenny Mcgrath | ) www.businessinsider.com time to read: +5 min

That was certainly the case during a recent Schmidt Ocean Institute expedition. ROV SuBastian/Schmidt Ocean Institute"Most of the seafloor is still unknown to us," Virmani said, with only about 25% of it mapped in detail. "That work will take place in a lab environment where they'll do some more in-depth study to confirm that these are new species," Virmani said. ROV SuBastian/Schmidt Ocean InstituteEnthusiasts hoping to get a peek at more deep-sea creatures will have a chance starting February 24. The Schmidt Ocean Institute, started by Wendy Schmidt and former Google CEO Eric Schmidt, will launch another expedition with the Research Vessel Falkor (too).

Persons: —, Javier Sellanes, Salas, Jyotika Virmani, Virmani, Juan, Schmidt, Alex Ingle, Wendy Schmidt, Eric Schmidt Organizations: Service, Schmidt Ocean Institute, Mount Fuji, Business, Schmidt Ocean, Mar, YouTube, Research Locations: Chile, Hawaii

☆ Unilever is selling Dollar Shave Club, the quirky direct-to-consumer pioneer that never really fit in with the massive company
▼ + stars: | 2023-10-26 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Unilever is selling Dollar Shave Club seven years after paying $1 billion for the brand. Unilever struggled to grow Dollar Shave Club, sources previously told. "Dollar Shave Club did not deliver as expected, and the economics of the DTC model changed," then-CEO Jope said during an earnings call in 2022. "Dollar Shave Club will also serve as a platform for additional brands with a similar DNA." Do you have a story idea about Dollar Shave Club or Unilever to share?

Persons: —, Fabian Garcia, Michael Dubin, Mark Levine, Schick, Dubin, Graeme Pitkethly, You've, Alan Jope, hadn't, Jope, Michael Cohen Organizations: Unilever, Nexus Capital Management, NEW, Service, Care, Gillette, Schmidt's Naturals, Procter & Gamble, Club Locations: cologne

☆ Unilever is selling Dollar Shave Club after 7 long, awkward years of trying to make it work
▼ + stars: | 2023-10-26 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

☆ Married billionaire Eric Schmidt reportedly invested $100 million in a company run by a 29-year-old entrepreneur said to be his girlfriend
▼ + stars: | 2023-10-25 | by ( Aaron Mok | ) www.businessinsider.com time to read: +3 min

Eric Schmidt invested $100 million in Steel Perlot, a company led by Michelle Ritter, Forbes reported. He is a "very, very active chairman," Ritter, the company's CEO, told Forbes of Schmidt. Screenshots of SteelPerlot.com; Wikipedia.comHe is a "very, very active chairman," Ritter, the company's 29-year-old CEO, told Forbes of Schmidt. As of today, Steel Perlot has invested at least $20 million, Forbes reported. Steel Perlot, Schmidt Futures, and The Schmidt Family Foundation, did not respond to Insider's requests for comment before publication.

Persons: Eric Schmidt, Michelle Ritter, Forbes, Schmidt, Ritter, " Ritter, —, Eric Schmidt — who's, Steel, Eric Schmidt's, Perlot, Steel Perlot, Wendy Organizations: Google, Schmidt, Service, Columbia Law School, New York Post, Galactic, Steel, Forbes, New York Times, Schmidt Futures, Family Foundation Locations: Forbes, New Mexico

☆ Former U.S. Army sergeant charged with offering classified information to China
▼ + stars: | 2023-10-06 | by ( Chelsey Cox | ) www.cnbc.com time to read: +2 min

WASHINGTON — A former U.S. Army sergeant was arrested on Friday for allegedly attempting to provide classified national security information to China, the Department of Justice said. Schmidt allegedly initiated efforts to provide Chinese intelligence with U.S. defense information after separating from the military in January 2020, the department said. He was part of the 109th Military Intelligence Battalion, where he had access to information classified "Secret" and "Top Secret," the DOJ said. He also is accused of reaching out to both the Chinese Consulate in Turkey and the Chinese security services via email to offer the information. "Individuals entrusted with national defense information have a continuing duty to protect that information beyond their government service and certainly beyond our borders," said Matthew Olsen, assistant Attorney General for National Security, in a statement.

Persons: WASHINGTON —, Joseph Daniel Schmidt, Schmidt, Schmidt's, Matthew Olsen, Tessa Gorman, Gorman Organizations: Defense, Pentagon, Washington D.C, U.S . Army, Department of Justice, DOJ, Joint, Lewis, McChord, 109th Military Intelligence Battalion, Consulate, National Security, Attorney, Western, of, of Defense Locations: Washington, United States, China, San Francisco, Hong Kong, Seattle, U.S, Turkey, of Washington

Production of the chocolate-making ingredient is expanding outside of the main growing area in West Africa as farmers in places such Brazil, Ecuador and Colombia see potential profit in the crop. The rally in prices to the highest level in nearly 50 years is boosting that trend, which could alleviate the current supply tightness in the global cocoa market. The country was once the second only to Ivory Coast in cocoa production, but a devastating fungus in the 1980's known as Witches' Broom sharply reduced production. "I believe that the new profile of cocoa production will be large-scale," said Moises Schmidt, one of the owners. "If you plant cocoa trees there (Amazon region), it is considered reforestation," said Douglas.

Persons: Schmidt Agricola, Moises Almeida Schmidt, Handout, Moises Schmidt, Jeroen Douglas, Douglas, Jose Garcia, IFAD's, Alvaro Lario, Marcelo Teixeira, Maytaal Angel, Simon Webb, Anna Driver Organizations: REUTERS, International Cocoa Organization, Reuters Graphics, Ivory, UN's, Fund for Agricultural Development, Thomson Locations: Bahia, Brazil, West Africa, Ecuador, Colombia, Africa, South America, Ivory, Ghana, Ivory Coast, Asia, United States, Europe, Guayaquil, Para, Netherlands, Medicilandia, New York, London

☆ Bosnia envoy revokes Bosnian Serb laws defying the state, peace deal
▼ + stars: | 2023-07-01 | by ( Daria Sito-Sucic | ) www.reuters.com time to read: +2 min

SARAJEVO, July 1 (Reuters) - Bosnia's international peace overseer, Christian Schmidt, on Saturday annulled two laws that Bosnian Serb parliament had adopted defying the constitution and the terms of a peace deal that ended the Balkan country's war in the 1990s. Schmidt, who as international High Representative in Bosnia has powers to impose laws and sack obstructive officials, also amended a law so that those seen as attacking the state institutions can be criminally prosecuted. "Recent decisions by the National Assembly of Republika Srpska directly violate the constitutional order of Bosnia-Herzegovina and the Dayton peace agreement," Schmidt told a news conference in Sarajevo. The Serbs say they do not recognise Schmidt, who was appointed in 2021, as the high representative because the U.N. Security Council did not endorse his appointment. The U.S. embassy welcomed Schmidt's decisions, agreeing that he was defending the Dayton peace deal and the constitution upholding the rule of law in Bosnia.

Persons: Christian Schmidt, Schmidt, Milorad Dodik, Dodik, Daria Sito, Louise Heavens Organizations: Bosnian Serb, Representative, National Assembly, Russian, . Security, United States, Thomson Locations: SARAJEVO, Bosnian, Bosnia, Republika Srpska, Herzegovina, Dayton, Sarajevo, Republic, Serb Republic, United States, United Kingdom, U.S

☆ MLB roundup: Astros win finale with Dodgers in 11 innings
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +12 min

Astros rookie right-hander Hunter Brown gave up one run on three hits over six innings, Ryan Pressley (2-2) earned the win and Seth Martinez collected his first career save. Dodgers starter Tony Gonsolin gave up four runs on five hits over five innings. Starter Bailey Ober gave up three runs and five hits and struck out eight in six innings. Pete Alonso had three RBIs via a two-run single in the third and a homer in the seventh, while Francisco Lindor also went deep for the Mets. Padres starter Seth Lugo (3-4) gave up three runs on seven hits with four strikeouts and no walks in five-plus innings.

Persons: Jeremy Pena, Jose Abreu, Alex Bregman, Corey Julks, Bregman, Hunter Brown, Ryan Pressley, Seth Martinez, Freddie Freeman, Mookie Betts, Will Smith, Tony Gonsolin, Gonsolin, Yency Almonte, Willson Contreras, Louis, Paul Goldschmidt, Marcus Stroman, Lars Nootbaar's, Matthew Liberatore, Jake Woodford, Jordan Hicks, Royce Lewis, Lewis, Donovan Solano, Bailey Ober, Griffin Jax, Jhoan Duran, Zach McKinstry, Michael Lorenzen, Brendan White, Carlos Correa, Kyle Schwarber, Trea Turner, Jeff Hoffman, Pete Alonso, Francisco Lindor, Anthony Santander, Kyle Bradish, Felix Bautista, Cal Raleigh, Harrison Bader, Gerrit Cole's, Anthony Volpe, John King, Jose Trevino, Bader, Yerry Rodriguez, Ezequiel Duran, Volpe, Oswaldo Cabrera, Michael King, Adolis Garcia, Corey Seager, Jonah Heim, Leody Taveras, Cavan Biggio, Yusei Kikuchi, George Springer, Rickey Henderson, Kikuchi, Luis Medina, Tony Kemp, Matt Olson, Olson, Raisel Iglesias, Kevin Newman, Matt McLain, Chris Sabo, Owen Miller's, Miller, Trevor Stephan, Joey Wiemer, Elvis Peguero, Devin Williams, Cleveland, Luis Robert Jr, Robert, Kutter Crawford, Jesse Scholtens, Crawford, Adam Duvall's, Justin Turner, Eury Perez, Perez, Dontrelle Willis, Jonathan Davis, Luis Arraez, Ezequiel Tovar, Austin Gomber, Justin Lawrence, Shohei Ohtani, Eduardo Escobar, Taylor Ward, Ketel Marte, Patrick Bailey, Evan Longoria, Davis, Blake Sabol, Marte, Tyler Glasnow, Jose Siri, Taylor Clarke, Harold Ramirez's, Drew Waters, Glasnow, Pete Fairbanks, Colin Poche, Yandy Diaz, Siri, Maikel Garcia, Daniel Lynch, MacKenzie Gore, Jeimer Candelario, Joey Meneses, Tim Hill, Candelario, Meneses, Gore, Seth Lugo Organizations: Houston Astros, Los Angeles Dodgers, Astros, Houston, Dodgers, Los Angeles, Cardinals, Cubs, Chicago, Tigers, Minnesota, Detroit, Twins, Phillies, Mets, Philadelphia, Orioles, Mariners, Baltimore, Santander, Cal, Yankees, Rangers, Texas, Blue Jays, Athletics, Cavan, Toronto, Oakland, Braves, Reds, Cincinnati, Brewers, Milwaukee, Cleveland, White Sox, Red Sox, Boston, Marlins, Pirates, Miami, Pittsburgh, Rockies, Angels, Colorado, The Rockies, Diamondbacks, Giants, Arizona, J.D, Rays, Royals, Tampa Bay, Kansas City, Nationals, Padres, Washington, Thomson Locations: Los Angeles, London, Chicago, New York, Seattle, Atlanta, Cleveland, Los, Denver, San Francisco, St . Petersburg, Fla, Kansas, San Diego

☆ From a horseback-riding model to a secret daughter: Meet the children of Apple cofounder Steve Jobs
▼ + stars: | 2023-02-24 | by ( Grace Kay | Aaron Mok | ) www.businessinsider.com time to read: +12 min

Steve Jobs left the bulk of his fortune to his wife, Laurene Powell Jobs, when he died in 2011. Later, he had Reed Jobs, Erin Jobs, and Eve Jobs with his wife, Laurene Powell Jobs. Meet Jobs' four children and his widow Laurene Powell Jobs, and see how his legacy helped his loved ones succeed. Erin Siena JobsErin Siena Jobs is the most private of Steve Jobs' children. Vianney Le Caer/Invision/APTwenty-four-year-old Eve Jobs, the youngest of Steve Jobs' children, is a model and an accomplished equestrian.

☆ AI's impact on warfare will be as big as nuclear weapons', says ex-Google CEO
▼ + stars: | 2023-02-14 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

Former Google CEO Eric Schmidt said AI could have as big of an effect on warfare as nuclear weapons did. Schmidt told Wired that the US military must deploy AI tools in combat to compete with world powers. AI could be what is needed to lead that change, Schmidt told Wired. In fact, AI technology — drones with sensors, for example — may be just as impactful as nuclear weapons when it comes to changing the state of warfare, he said. Technologies like Istari can be used to build a stronger US military that can out-compete forces in countries like China, Schmidt told Wired.

☆ Google's ex-CEO Eric Schmidt tapped for federal biotech commission that allows members to keep biotech investments
▼ + stars: | 2023-01-31 | by ( Eamon Javers | ) www.cnbc.com time to read: +7 min

On Dec. 30, leaders of the House and Senate Armed Services committees announced the selection of former Google CEO Eric Schmidt and 11 others to serve on a new federal commission on biotechnology. The appointment, however, doesn't require commission members to divest their own personal biotech investments — even as they help shape U.S. policy overseeing the industry. The person didn't say when Schmidt made the decision to donate profits, adding that he hasn't yet named any recipient charities. The new federal commission will likely have a say in steering such investments over the two years of its lifetime. Schmidt's biotech investments are relatively recent.

☆ Steve Jobs' nepo babies: From a model to a secret daughter, here's everything we know about the Apple cofounder's kids
▼ + stars: | 2023-01-19 | by ( Grace Kay | Aaron Mok | ) www.businessinsider.com time to read: +12 min

Steve Jobs left the bulk of his fortune to his wife, Laurene Powell Jobs, when he died in 2011. Later, he had Reed Jobs, Erin Jobs, and Eve Jobs with his wife, Laurene Powell Jobs. Apple, Laurene Powell Jobs, and Reed Jobs did not reply to requests for comment, nor did representatives for Lisa Brennan-Jobs and Eve Jobs. Since Jobs' death, Powell Jobs has been active in philanthropy and founded Emerson Collective in 2004 as a "social change organization." Erin Siena JobsErin Siena Jobs is the most private of Steve Jobs' children.

☆ John Kelly was forced to deal with 'fights' between Melania and Ivanka Trump as they competed for influence, NYT journalist says
▼ + stars: | 2023-01-15 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +2 min

John Kelly had to deal with conflicts between Melania and Ivanka Trump, NYT journalist Michael Schmidt said. Schmidt's book "Donald Trump v. The United States" includes details about Kelly's time as White House chief of staff. Schmidt, who wrote the book "Donald Trump v. The United States," told MSNBC that Ivanka Trump wanted to be the first lady in a "ceremonial" sense. "John Kelly is probably as serious a national security figure as you can find, a four-star Marine general. Schmidt said that during Kelly's time in the White House, he was often forced to focus on less important issues, including telling former White House aide Omarosa to stop having parties at the White House pool.

Warren said she was concerned about reports alleging Schmidt leveraged his positions on two federal advisory committees "to further his own personal financial interests." Those reports could suggest the Defense Department did not adequately apply federal conflict of interest rules "and therefore failed to protect the public interest" in Schmidt's case, wrote the Massachusetts Democrat. There was no indication that Schmidt broke any ethics rules or did anything unlawful while chairing the commission. Both advisory boards are subject to conflict-of-interest rules under the Federal Advisory Committee Act. "I am concerned by press reports indicating the Department may not have adequately followed FACA conflict of interest rules and therefore failed to protect the public interest."

☆ Democratic Gov. Laura Kelly vies for reelection against Republican Derek Schmidt in Kansas
▼ + stars: | 2022-10-31 | by ( Grace Panetta | ) www.businessinsider.com time to read: +2 min

Laura Kelly is seeking a second term as governor of Kansas. Laura Kelly is running for a second term against Republican Attorney General Derek Schmidt in Kansas. Kansas' gubernatorial candidatesKelly, a moderate Democrat first elected in 2018, is seeking a second term in office, running on her record in leading Kansas through the COVID-19 pandemic. Her opponent, Attorney General Derek Schmidt, has hammered Kelly over issues including Kansas' educational and foster care systems. Kansas' gubernatorial race also follows Kansas voters in August decisively rejecting a ballot referendum that would have eliminated the right to abortion from the Kansas Constitution.

☆ Fmr. Google CEO raises ethics concerns over conflict of interest with AI investments
▼ + stars: | 2022-10-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFmr. Google CEO raises ethics concerns over conflict of interest with AI investmentsCNBC's Eamon Javers joins 'Squawk Box' to report on the direct AI investments fmr. Google CEO Eric Schmidt made while chairing the Federal Advisory AI Commission, and the fractures in government oversight and ethics systems that enabled Schmidt's activity.

☆ How Google's former CEO Eric Schmidt helped write AI laws in Washington without publicly disclosing investments in AI start-ups
▼ + stars: | 2022-10-24 | by ( Eamon Javers | ) www.cnbc.com time to read: +18 min

'Conflict of interest'Schmidt's investment was just the first of a handful of direct investments he would make in AI start-up companies during his tenure as chairman of the AI commission. Altogether, Schmidt and entities connected to him made more than 50 investments in AI companies while he was chairman of the federal commission on AI. To Poulson, Schmidt was simply given too much power over federal AI policy. The new entity would continue the work of the congressionally created federal commission, with many of the same goals and much of the same staff. More than a dozen staffers from the federal commission followed Schmidt to the new private sector project.

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