$350 million for WeWork co-founder shows how broken and biased venture capital is

(NPR) A reported $350 million investment into a new, yet-to-be-launched real estate venture founded by a controversial businessman has drawn criticism from women entrepreneurs. The investment, which was made and publicly shared by venture capital powerhouse Andreessen Horowitz, is in Flow, the new company of WeWork co-founder Adam Neumann. Given Neumann’s questionable business dealings and his abrupt exit from WeWork amid…

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How a top US business lobby promised climate action – but worked to block efforts

(The Guardian) Business Roundtable aims to weaken efforts that would enable investors to hold companies accountable for their climate promise. Three years ago today, in a statement that would be described as “historic”, “monumental” and “revolutionary”, America’s most powerful and politically connected corporations promised to “protect the environment by embracing sustainable practices across our businesses”.…

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Facebook’s Message Encryption Was Built to Fail

(Wired) The details are chilling. Police raiding a home, a teenager and her mother arrested, fetal remains exhumed from a rural burial plot. When police dragged off a 17-year-old Nebraska girl and charged her and her mother with self-administering a miscarriage, they were armed with damning documents they could only access through the incompetence and…

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Manchin’s clean energy deal is a game-changer for ESG

(Quartz) Over the course of two days in July, West Virginia emerged as the perfect proxy for America’s messy reckoning with climate change. First, it moved to punish banks for divesting from old economy coal and fossil fuels; next, its senior US senator had an abrupt change of heart and supported a serious step up…

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Private Equity Doesn’t Want You to Read This

(The New York Times) There will be jargon: carried interest, leveraged buyout, joint liability. I am aware that none of this is anyone’s favorite thing to be discussing on a summer’s day. But private equity is counting on your lack of interest; the seeming impenetrability of its practices has been called one of its “superpowers,”…

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Texas Fought Against ESG. Here’s What It Cost

(Knowledge at Wharton) A Texas law that bans its municipalities from doing business with banks that have ESG policies against fossil fuels and firearms is driving down competition for borrowing and costing taxpayers millions in extra interest, according to a new study from Wharton. In their paper, Wharton assistant finance professor Daniel Garrett and Ivan…

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