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

By lucidcapitalism | August 26, 2022

(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…

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

By lucidcapitalism | August 19, 2022

(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”.…

States that are hostile toward abortion face backlash from corporations. What about startups?

By lucidcapitalism | August 15, 2022

(Fast Company) In the wake of the Supreme Court’s decision to overturn Roe v. Wade on June 24, a long list of companies announced that they will cover travel costs or expand healthcare benefits for employees who may be affected by the ruling. Insurance company Embroker, meanwhile, recently asked over 500 venture capitalist-backed startup founders…

Facebook’s Message Encryption Was Built to Fail

By lucidcapitalism | August 10, 2022

(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…

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

By lucidcapitalism | August 6, 2022

(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…

Here’s what climate tech investors think of the Inflation Reduction Act

By lucidcapitalism | August 5, 2022

(Pitchbook) When tech investor Abe Yokell heard about the $369 billion bill to fund climate investment in the US, he almost fell out of his seat. Yokell, a managing partner at Congruent Ventures, wasn’t alone. Climate tech investors and advocates were shocked by the agreement between Senators Joe Manchin and Chuck Schumer that, if passed,…

Private Equity Doesn’t Want You to Read This

By lucidcapitalism | August 4, 2022

(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,”…

Surprise Deal Would Be Most Ambitious Climate Action Undertaken by U.S.

By lucidcapitalism | July 28, 2022

(The New York Times) The $369 billion climate and tax package forged in a surprise deal by Senate Democrats on Wednesday would be the most ambitious action ever taken by the United States to try to stop the planet from catastrophically overheating. The agreement, which Senate Democrats hope to pass as early as next week,…

Why tech workers are quitting great jobs at companies like Google to fight climate change

By lucidcapitalism | July 26, 2022

(CNBC) “You just realize there’s a little bit more to life than maxing out your comp package. And I think people are realizing that now — and especially with some of the decisions that their companies have made to prioritize profits over democracy, for example.” Before starting at Sunrun in March, Anuras worked at Expedia…

Texas Fought Against ESG. Here’s What It Cost

By lucidcapitalism | July 12, 2022

(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…