stripe plans to go public in next year or make a deal to resolve employee stock squeeze

January 26, 2023

(The Information) Stripe plans to either go public or make a deal that will allow employees to sell stock within the next year, the company told employees and investors Thursday, moves that would be aimed at easing a looming stock crunch for some veteran employees. Read more here.

new york pension seek stricter climate emissions rules from bank portfolios

January 24, 2023

(Reuters) Shareholder resolutions filed by New York City’s top pension official will ask top Wall Street banks including JPMorgan Chase & Co (JPM.N) and Bank of America (BAC.N) to set stricter 2030 greenhouse gas emissions reduction targets for portfolio companies. If the advisory proposals come to a vote at bank shareholder meetings this spring they would test investors’ climate…

big tech layoffs are hitting diversity and inclusion jobs hard

January 24, 2023

(Bloomberg) At Twitter, the diversity, equity and inclusion team is down to just two people from 30, one former employee said. A DEI worker who was let go from a popular ride-share company said their job search has stalled as other technology companies assess their finances. And just before getting the axe at separate tech…

ceos who are all talk and no action on inclusion still benefit

January 19, 2023

(Bloomberg) Corporate leaders who talk the most about diversity may benefit from greater investment in their companies by socially conscious funds, even if hiring and promotion efforts are lackluster. The biggest braggarts may benefit the most from what researchers call “diversity-washing.” Read more here.

U.K. to toughen new social-media law, threatening ceos with jail time

January 17, 2023

(Wall Street Journal) British legislators are set to approve a draft of an extensive new social-media bill that could see the chief executives of major tech firms held criminally liable if they don’t protect children from certain content online. As the U.K. moves closer toward enacting new legislation that technology companies say is too restrictive,…

sequoia capital cuts fees for new funds amid VC slowdown

January 13, 2023

(Reuters) Sequoia Capital has lowered management fees in its two recently-launched venture funds as it braces for a slower investment environment, partner Alfred Lin said on Thursday. The changes in fee structure, communicated to investors in December, allow limited partners (LPs) who committed capital to Sequoia’s crypto and ecosystem funds launched early last year to…

after ‘irrational cycle,’ venture’s limited partners exert more power over funds

January 10, 2023

(The Information) the increasingly bloodied market for tech startups is strengthening the hand of one group of investors: the wealthy individuals and institutions that put money into venture capital funds. These limited partners are seeking better terms, such as guaranteed access to startup deals, reductions in the fees they pay the VC firms and even…

companies face rising pressure to offer esg retirement options

January 9, 2023

(Bloomberg) Most corporate retirement plans are awash in fossil-fuel investments. But that could start to change this year as a new US rule comes online and employee pressure builds for more climate-friendly options. Starting on Jan. 30, a Department of Labor rule will take effect that explicitly allows fiduciaries to consider climate change and other environmental, social, and…

black founders still raised just 1% of all VC funds in 2022

January 6, 2023

(TechCrunch) The latest Crunchbase data shows that Black startup founders in the United States raised around $264 million out of the total $33.6 billion in venture capital allocated in Q4 2022. That’s an uptick from the $178 million — or 0.43% — the group raised in Q3. In total, U.S. Black founders raised an estimated $2.254 billion…

frosty fundraising environment may change early startups’ DNA for the better

January 5, 2023

(Techcrunch) There isn’t much hope that 2023’s fundraising environment will be better for startups than last year’s. It seems likely that it will get worse before it gets better — even at the earliest stages, which have largely been insulated thus far. But for burgeoning companies capable of building business models that reflect current conditions and rely less on…