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A “techlash” is coming this year

By lucidcapitalism | January 30, 2022

(GZERO) After years of uninhibited expansion into nearly all corners of modern life, consumer internet companies could this year face meaningful action to curb their activities from governments around the world. From Delhi to Dublin, Beijing to Brussels, and Washington to Warsaw, there is real momentum behind unprecedented legislation and stepped-up regulatory enforcement against big…

Calif. Senate passes bill requiring large companies to report Scope 3 emissions

By Cecilia Young | January 27, 2022

(S&P Global) Corporations with more than $1 billion in annual revenue would be required to disclose all scopes of their greenhouse gas emissions to the California Secretary of State’s office under a first-of-its-kind bill the state Senate passed Jan. 26. The Climate Corporate Accountability Act now goes to the lower legislative chamber, known in California…

Latino Founders Have a Hard Time Raising Money From VCs

By lucidcapitalism | January 26, 2022

(Wired) A few years ago, Rocío van Nierop visited the tech accelerator Y Combinator. Nierop is the cofounder and executive director of the advocacy group Latinas in Tech. As she walked through the building, she passed by photo after photo of the teams that Y Combinator had funded. Nierop noticed they were all white men.…

SEC Proposes Disclosure Mandates for Private Equity, Hedge Funds

By lucidcapitalism | January 26, 2022

(Wall Street Journal) Federal regulators proposed measures that would significantly increase their visibility into private-equity funds and some hedge funds, the first in a range of plans to expand oversight of private markets. The Securities and Exchange Commission voted 3-1 to issue a proposal Wednesday that would increase the amount and timeliness of confidential information…

Bolt CEO called Y Combinator and Stripe ‘the Mob’ in a fiery Twitter thread

By lucidcapitalism | January 25, 2022

(Protocol) Twitter was abuzz Tuesday over a long thread written on Monday by Bolt CEO Ryan Breslow, who claimed that Stripe and Y Combinator are “mob bosses,” using “every power move imaginable” to block competitors from becoming successful. In other words: Silicon Valley is cutthroat. Who knew? Or at least, that summarizes most of the…

How Leaders Can Move Beyond Greenwashing Toward Real Change

By lucidcapitalism | January 25, 2022

(Harvard Business Review) Businesses should be ready to defend what they’re doing about the climate crisis and how they’re taking meaningful action. If they don’t, they could face challenges from many directions, from the SEC to activists to litigators. This is more important than ever, especially when there’s a growing and justified anger directed at…

Venture capital firms lack ability to focus on ESG – report

By lucidcapitalism | January 24, 2022

(Pensions & Investments) Some venture capital managers may be interested in considering ESG factors in investments, but many lack adequate resources to apply those considerations and influence over portfolio companies and do not consider ESG to be material to the asset class, according to a report released Monday by the Principles for Responsible Investment, a…

Investors grapple with physical climate risks, long-term impacts

By lucidcapitalism | January 14, 2022

(Pensions & Investments) Investors are stepping up efforts to understand and better manage the impact of climate change on their physical investments in real assets, including private equity, from farmlands to urban office buildings. It is an increasingly urgent mission as the transition to a net-zero economy ramps up. “Physical climate-risk scenario analysis is particularly…

Economists Pin More Blame on Tech for Rising Inequality

By lucidcapitalism | January 11, 2022

(New York Times) Daron Acemoglu, an influential economist at the Massachusetts Institute of Technology, has been making the case against what he describes as “excessive automation.” The economywide payoff of investing in machines and software has been stubbornly elusive. But he says the rising inequality resulting from those investments, and from the public policy that…

LP Perspectives 2022: An ESG revolution

By lucidcapitalism | January 10, 2022

(Venture Capital Journal) Investors are scrutinizing the ESG credentials of their private equity managers like never before. “While ESG is a relatively new priority for LPs, interest is not only increasing but accelerating,” says Jennifer Choi, managing director of industry affairs at the Institutional Limited Partners Association. Indeed, ILPA published the ESG Assessment Framework earlier…