(Business Insider) As more LPs walk away from their positions in VC firms, at least one firm is raising hundreds of millions to quietly buy up distressed positions. Read more here.
(Bloomberg) When Apple Inc. Chief Executive Officer Tim Cook and his top deputies this week unveiled a landmark arrangement with OpenAI to integrate ChatGPT into the iPhone, iPad and Mac, they were mum on the financial terms. Read more here.
(Bloomberg) A federal appeals court struck down the US Securities and Exchange Commission’s rules requiring hedge funds and private equity firms to detail quarterly fees and expenses to investors — a significant setback in the regulator’s clampdown on the private-funds industry. Read more here.
(Roy Swan, Observer) Data irrefutably indicates that “pro-woke, pro-DEI” shareholder activism would deliver greater economic value to all stakeholders than an anti-woke, anti-DEI strategy. Read more here.
(WSJ) The pace of innovation in AI is slowing, its usefulness is limited, and the cost of running it remains exorbitant. Read more here.
(Wired) Two ex-Facebook employees founded the nonprofit Integrity Institute to clean up tech platforms. Now it’s reeling amid fights on Slack and one founder’s resignation after an external HR investigation. Read more here.
(TechCrunch) Last month, one of the Bay Area’s better-known early-stage venture capital firms, Uncork Capital, marked its 20th anniversary with a party in a renovated church in San Francisco’s SoMa neighborhood, where 420 guests showed up to help the firm celebrate, trade tips and share war stories. Read more here.
(Verge) For decades, robots.txt governed the behavior of web crawlers. But as unscrupulous AI companies seek out more and more data, the basic social contract of the web is falling apart. Read more here.
(WSJ) Blackstone wants rank-and-file employees at the companies it buys to own a piece of their business. Read more here.
(MarketWatch) As many as half the venture-capital firms will fade or fail, says a prominent player in that space. Josh Wolfe, the co-founder of New York VC firm Lux Capital, says the contraction will be driven by both fractured partnerships as well as what he calls “feckless” strategies that are too weak to fix. He…