Old VC firms hold entrenched position in fundraising despite fresh entrantsOn Tuesday, news broke that Sequoia Capital has closed $6 billion out of what could end up being an $8 billion growth-stage fund with global scope. Crunchbase News covered that particular financing, but also found that Sequoia Capital is potentially raising billions more across funds focused on China, the U.S. and India, according to press reports and regulatory filings we examined. [ Tech Crunch ] Benchmark’s Mitch Lasky will reportedly step down from Snap’s board of directorsBenchmark partner Mitch Lasky, who has served on Snap’s board of directors since December 2012, is not expected to stand for re-election to Snap’s board of directors and will thus be stepping down, according to a report by The Information. Early investors stepping down from the board of directors — or at least not seeking re-election — isn’t that uncommon as once-private companies grow into larger public ones. Benchmark partner Peter Fenton did not seek re-election for Twitter’s board of directors in April last year. As Snap continues to navigate its future, especially as it has declined precipitously since going public and now sits at a valuation of around $16.5 billion. [ Tech Crunch ] Facebook Co-Founder Chris Hughes Is Fighting for Fairer IncomesAccording to Facebook co-founder Chris Hughes, the author of Fair Shot: Rethinking Inequality and How We Earn and the co-chair of the Economic Security Project, America needs to radically reform its tax code — to rebalance the economy and make it work more fairly for all American workers. [ Tech Crunch ] The overhyped scooter company that raised $400 million in 4 months is an example of everything that’s wrong with Silicon Valley18 months ago, a company called Bird burst onto the scene. It rents electric scooters, similar to a bike-share rental — except that renters can just leave the scooters anywhere, and someone else will gather them up and return them. Bird began in Santa Barbara, California, and later opened up shop in San Francisco. Suddenly, seemingly without warning, people were leaving these scooters everywhere in the City by the Bay, causing controversy and gaining lots of attention. [ Business Insider ] Kara Nortman: “We can’t all be flame throwers”In 2018, it’s become fashionable to identify as a “female VC” or a “female founder.” It’s even become badass to hold a baby while ringing an IPO bell, or have the courage to take full maternity leave. VCs at major firms like Sequoia’s Jess Lee are even declaring themselves “the girly investor.” .. [ Pando ] Venture Investors Remain Bullish on Crypto And Blockchain SpaceThe bitcoin and blockchain technology space may be going through some growing pains, but that doesn’t appear to be scaring investors away. Last month, Crunchbase News’s Jason Rowley reported that the amount of money raised in old-school venture capital rounds by blockchain and blockchain-adjacent startups in 2018 had already surpassed the amount raised in 2017. [ CrunchBase ] Barack Obama visits venture capital firm on California tripFormer President Barack Obama has visited a prominent Silicon Valley venture capital firm. Andrew Chen, a general partner at Andreessen Horowitz, posted a photo on Twitter of Obama posing Friday with a large group of people, including several venture capitalists at the firm based in Menlo Park, California. The firm on Saturday declined to comment on the reason for the visit. [ Tampa Bay ] Werk Wives: How The Startup Cofounders Maintain A Successful Business PartnershipWerk, a startup championing flexibility as the future of work, is aiming to change the narrative of working women, and, more recently, men as well. The goal is to integrate career and personal life by partnering with companies to incorporate more accommodating job roles. By establishing a clear-cut framework and an industry standard definition of flexibility, they're working to eliminate the ambiguity and stigma around flexible job roles with the belief that flexibility isn’t a perk or an accommodation for any one group but rather is a business imperative in the modern workplace. Through the Werk job board, the company also provides a platform for job seekers to access these opportunities with the end goal of helping all people stay in the workforce and continue to advance in their careers. [ Forbes ] Amazon to pick up VC-backed PillPack for $1B as part of healthcare pushAmazon has agreed to acquire PillPack, an online pharmacy, deepening its push into the healthcare space after months of speculation and years of internal debate about whether to add pharmaceuticals to its online empire. The ecommerce colossus will pay $1 billion in cash, per The Wall Street Journal. [ Pitchbook ] Hair-Loss and ED Drugs Startup Hims Raises Another $50 MillionRocket startup sees big future in military launchHellman & Friedman deal values SimpliSafe at $1B Cryptocurrency Can be Worth Trillions of Dollars According to Albert Wenger, a Managing Partner in a New York-based Venture Capital FirmOld VC Firms Hold Entrenched Position In Fundraising Despite Fresh Entrants This VC explains the funding gap in Southeast Asia and the danger of convertible notesThe Rise Of Chinese Voice Assistants And The Race To Commoditize Smart Speakers |