Sequoia, Y Combinator, AZ16 Under Scrutiny in Congress over ‘Tech Bro’ Culture

Re:Sequoia, Y Combinator, AZ16 Under Scrutiny in Congress ov... by clpm4j on Tuesday June 28, 2022 @12:25PM (#31909754)

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.

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Re:Sequoia, Y Combinator, AZ16 Under Scrutiny in Congress ov... by screye on Tuesday June 28, 2022 @01:08PM (#31910316)

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.

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Re:Sequoia, Y Combinator, AZ16 Under Scrutiny in Congress ov... by lbwtaylor on Tuesday June 28, 2022 @04:23PM (#31912558)

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.

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Re:Sequoia, Y Combinator, AZ16 Under Scrutiny in Congress ov... by givemeethekeys on Tuesday June 28, 2022 @02:37PM (#31911336)

Bullies beat up on those who fight back the least.

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Re:Sequoia, Y Combinator, AZ16 Under Scrutiny in Congress ov... by truffdog on Tuesday June 28, 2022 @12:34PM (#31909884)

> 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.

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Re:Sequoia, Y Combinator, AZ16 Under Scrutiny in Congress ov... by HWR_14 on Tuesday June 28, 2022 @01:16PM (#31910392)

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?

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Re:Sequoia, Y Combinator, AZ16 Under Scrutiny in Congress ov... by akhmatova on Tuesday June 28, 2022 @01:24PM (#31910480)

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.

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Re:Sequoia, Y Combinator, AZ16 Under Scrutiny in Congress ov... by scarface74 on Tuesday June 28, 2022 @01:03PM (#31910253)

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

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Re:Sequoia, Y Combinator, AZ16 Under Scrutiny in Congress ov... by nradov on Tuesday June 28, 2022 @02:39PM (#31911371)

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).

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Re:Sequoia, Y Combinator, AZ16 Under Scrutiny in Congress ov... by bspear on Tuesday June 28, 2022 @04:00PM (#31912297)

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

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