“You had a job” can be funny when a birthday cake decoration goes wrong, but if we’re talking about executives who don’t show up for board meetings, the stakes are much higher.
“Disconnected or dysfunctional boards are not just bad for CEOs and LPs; they are bad for everyone,” writes Matt Blumberg, co-founder and CEO of Bolster, noting that he prompted him to revise meeting formats to include follow-up surveys and additional outreach.
“That’s a lot of moving parts to deal with, but I think doing that keeps the meeting fresh and on track.”
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Many business owners see board meetings as obstacles to be avoided or overcome, which is unfortunate. Well-run sessions are legitimate opportunities to discuss challenges and ask for help when needed.
Example: Nobody wants to read slides at a board meeting, so distribute material well in advance and ask attendees to email questions. A board meeting should be a working session, not a monologue.
To promote engagement and diversity, Blumberg recommends adding an independent director for each investor board seat and reserving a single spot for a founder or team member.
“There is no question that running an effective board or serving as an effective director requires a great deal of time, energy and diligence,” he says. “But that’s no reason not to try.”
Thanks so much for reading,
Editorial Manager, TechCrunch+
Today: Q&A with Silicon Valley Immigration Attorney Sophie Alcorn
I am organizing a Twitter Space today at 10am PT/1pm ET with immigration attorney and TC+ columnist Sophie Alcorn.
If you’re trying to navigate the byzantine US immigration process, or know someone who is, join the conversation and bring your questions.
8 investors discuss what lies ahead for reproductive health startups in a post-Roe world
Dominic-Madori Davis surveyed eight investors about the role that venture capital could play in this new era where Americans no longer have the legal right to have abortions.
The Supreme Court’s Dobbs decision affected more than health care and personal privacy: Will capital and talent flee US states that restrict reproductive rights? Will investors back more startups that expand healthcare?
Given “the tenuous relationship between venture capital and ethics”, Dominic-Madori asked the group how they plan to exert influence and how they prefer entrepreneurs to approach them:
- Hessie Jones, Partner, MATR Ventures
- Lisa Calhoun, Gary Peat and William Leonard, Valor Ventures
- Mecca Tartt, CEO, Startup Runway
- Ed Zimmerman, Founding Partner, First Close Partners
- Theodora Lau, Founder, Unconventional Ventures
- McKeever Conwell, Founder, RareBreed Ventures
Pitch Deck teardown: $7M party round, er, party round deck
In November 2021, Party Round, a startup that aims to help automate early-stage fundraising, used its own platform to raise $7 million.
Its founders recently shared their raw 10-slide presentation with us so TC+ members can see what worked:
- value proposal
- Competitive advantages
- “Because right now?”
Dear Sophie, My EB-2 priority date will be pushed back 2 years! That I have to do?
In her latest column, Sophie Alcorn answered questions about green cards in the EB-1A category for multinational and extraordinary ability managers, EB-2 NIW and with PERM, as well as EB-3 for professionals:
I was so close! My priority date for my EB-2 application to register permanent residence was only nine days from the date on the September 2022 Visa Bulletin, but now the date on the October 2022 Visa Bulletin! It’s over two years late!
I’m a software engineer and I wanted to get my green card before I changed jobs, but now I’m reconsidering my path. The only thing that stops me is that I heard that employees will be fined if they leave their employer before getting a green card.
What is your advice?
— Hit by the Bulletin
I currently have an L-1B and my employer sponsored me for an EB-3 green card. I only have one year left on my L-1B, so my employer entered me in the H-1B lottery, and I was selected!
Will I still keep my EB-3 priority date if I switch to H-1B?
— Engaged Employee
I’m an author and motivational speaker, and I’m 60 years old. Can I apply for an EB-1A green card?
— Successful Speaker
In Latin America, founders and investors seek to balance caution and optimism
If valuations are your yardstick, the Latin American startup ecosystem has only recently reached maturity.
“Marking a long-awaited turning point,” the region’s first unicorns have appeared in the past five years, according to Julio Vasconcellos, managing partner at venture capital firm Atlántico.
In his third annual TC+ report, Vasconcellos compares recent LatAm gains in sectors such as telemedicine, grocery delivery, and fintech to those of the US trend line.”
What CHIPS and the Science Act Mean for the Future of the Semiconductor Industry
For more than two years, the global semiconductor supply chain has been stretched to the limit.
There is no single cause: extreme weather, COVID-19, a protracted trade war between the US and China, and the Russian invasion of Ukraine are just a few of the contributing factors, not to mention the growing demand for cryptocurrency mining .
The US only accounts for 12% of global semiconductor production, but the recent passage of The CHIPS and Science Act of 2022 will free up $52.7 billion in subsidies for domestic workforce development, R&D, and manufacturing.
“The CHIPS Act looks like a green light for domestic manufacturing,” says Simon Butler of Perforce Software.
“However, a presidential executive order released earlier this year may be a roadblock for semiconductor design shops eager to serve on national security projects.”