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This is bizarre. I don't think anyone would argue that it would be great to have more diverse venture-backed businesses in the world, but the fact that the gove

by clpm4j 4y ago

This is bizarre. I don't think anyone would argue that it would be great to have more diverse venture-backed businesses in the world, but the fact that the government is spending time scrutinizing private investment firms' portfolios just doesn't make any sense to me.

truffdog 4y ago
> the witnesses at the single-panel hearing include Sallie Krawcheck, the CEO and Co-Founder of ‘Ellevest’, Marceau Michel, Founder of ‘Black Founders Matter’, Abbey Wemimo, Co-Founder and Co-CEO of ‘Esusu’ and Maryam Haque, Executive Director of ‘Venture Forward’. That team of people is making the case that they should get funded instead, or brought in as consultants to help ensure that Sequoia, Y Combinator and A16Z don't get dragged back to Congress and yelled at again.
- timapplesauce 4y ago
- deleted 4y ago
  [deleted]
scarface74 4y ago
If public pensions stop investing in private equity firms I might agree with you…
- nradov 4y ago
  Public pensions are too risky and create a terrible moral hazard. We ought to eliminate all defined benefit pension plans and convert them into defined contribution plans such as 401(k).
screye 4y ago
It is a shakedown tactic. Tech bro culture at its worst, is still orders of magnitude more socially acceptable than culture are frats, finance bros, law firms, hollywood, sports teams or worst.of.them all : politicians.
- givemeethekeys 4y ago
  Bullies beat up on those who fight back the least.
- lbwtaylor 4y ago
  I don't think this is accurate, certainly law firms are ahead of technology firms and I think traditional finance firms are ahead of crypto firms. I'm not sure how frats are relevant here, nor sports teams.
HWR_14 4y ago
Why shouldn't government officials understand how private investment firms may contribute to societal problems? Their job is to pass laws that may impact the firms. Should they be ignorant of what's going on?
akhmatova 4y ago
The fact that the government is spending time scrutinizing private investment firms' portfolios just doesn't make any sense to me. It's called "overriding public interest", and until the bros get their act together -- the big ole Nanny State is going to have to step in, and teach them a thing or two. You don't have to like it -- but it's hard to see what the mystery is here.
bspear 4y ago
Right, you'd think they have bigger fish to fry

by clpm4j 4y ago

truffdog 4y ago

> the witnesses at the single-panel hearing include Sallie Krawcheck, the CEO and Co-Founder of ‘Ellevest’, Marceau Michel, Founder of ‘Black Founders Matter’, Abbey Wemimo, Co-Founder and Co-CEO of ‘Esusu’ and Maryam Haque, Executive Director of ‘Venture Forward’. That team of people is making the case that they should get funded instead, or brought in as consultants to help ensure that Sequoia, Y Combinator and A16Z don't get dragged back to Congress and yelled at again.

timapplesauce 4y ago
deleted 4y ago
[deleted]

scarface74 4y ago

If public pensions stop investing in private equity firms I might agree with you…

nradov 4y ago
Public pensions are too risky and create a terrible moral hazard. We ought to eliminate all defined benefit pension plans and convert them into defined contribution plans such as 401(k).

screye 4y ago

It is a shakedown tactic. Tech bro culture at its worst, is still orders of magnitude more socially acceptable than culture are frats, finance bros, law firms, hollywood, sports teams or worst.of.them all : politicians.

givemeethekeys 4y ago
Bullies beat up on those who fight back the least.
lbwtaylor 4y ago
I don't think this is accurate, certainly law firms are ahead of technology firms and I think traditional finance firms are ahead of crypto firms. I'm not sure how frats are relevant here, nor sports teams.

HWR_14 4y ago

Why shouldn't government officials understand how private investment firms may contribute to societal problems? Their job is to pass laws that may impact the firms. Should they be ignorant of what's going on?

akhmatova 4y ago

The fact that the government is spending time scrutinizing private investment firms' portfolios just doesn't make any sense to me. It's called "overriding public interest", and until the bros get their act together -- the big ole Nanny State is going to have to step in, and teach them a thing or two. You don't have to like it -- but it's hard to see what the mystery is here.

bspear 4y ago

Right, you'd think they have bigger fish to fry