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<ul class="summary-list"><li>The University of California, Berkeley, is the top producer of alumni starting tech companies.</li><li>Founded by Jeremy Fiance, The House Fund targets Berkeley-affiliated startups like Databricks.</li></ul>In the last year, tech investors have plowed tens of millions of dollars into Perplexity, the developer of a search engine built from scratch with artificial intelligence. The two-year-old startup <a target="_blank" class="" href="https://www.businessinsider.com/perplexity-raising-new-funding-generative-ai-2024">takes in cash like oxygen,</a> having raised <a target="_blank" class="" href="https://www.businessinsider.com/ai-startups-rapid-funding-rounds-2024-9">back-to-back funding rounds</a> just months apart, and is <a target="_blank" class="" href="https://www.wsj.com/tech/ai/ai-startup-perplexity-in-funding-talks-to-more-than-double-valuation-to-8-billion-54d36787">said to be in talks</a> to raise a fourth round that would value the startup at $8 billion.Landing a spot on Perplexity's cap table is fiercely competitive, making it all the more noteworthy that The House Fund, a bespoke venture capital firm born from the University of California, Berkeley's ecosystem, secured a place.In 2016, tech investor Jeremy Fiance set up a venture capital firm at his alma mater to invest in startups with ties to top-tier public schools. From an office across from the College of Computing, Data Science, and Society, investors at The House Fund scour their networks for students, faculty, and alumni working to build the next Perplexity, whose CEO Aravind Srinivas is a Berkeley alum, or Databricks, one of the <a target="_blank" class="" href="https://www.businessinsider.com/databricks-acquires-startup-lilac-ai-to-beef-up-its-llm-offerings-2024-3">world's most important data science firms</a> with a private valuation of $43 billion, started by a group of seven Berkeley researchers. The House Fund has backed both."There are only so many companies that matter every year, full stop, in venture," said Zachary Hargreaves, a managing partner at The House Fund. Each year, more firms are "birthed out of Berkeley."<div type="image" title="Two men looking relaxed smile for a photo against a black backdrop." height="2250" width="3000" msid="114433088" hostid="261" sizebytes="116306"></div>In early 2020, Hargreaves <a target="_blank" class="" href="https://www.businessinsider.com/30-rising-venture-capitalist-investors-silicon-valley-tech-2018-4">left Founders Fund</a>, where he worked closely with startups like SpaceX and Stemcentrx, to run his own playbook as an advisor and angel investor. During this period, an old classmate from Berkeley, Fiance, started asking his advice about which companies in the portfolio he should reinvest in."I was learning more and more about what The House Fund is from the outside in," Hargreaves said. "It feels very small but then from the inside out, it's actually very big in terms of the opportunity set."In the two years since Hargreaves went full-time, The House Fund has deployed over $125 million into companies. His move from Founders Fund to The House Fund hasn't been previously reported.Investors pay much attention to Stanford and the Massachusetts Institute of Technology for their conveyor belts of entrepreneurial talent. Neither have spawned quite as many startup founders in the last decade at Berkeley. According to <a target="_blank" class="" href="https://pitchbook.com/news/articles/pitchbook-university-rankings">PitchBook data</a>, Berkeley has the highest tally of alumni entrepreneurs who have raised venture capital of any public or private school worldwide.Hargreaves predicts that the group will grow as the use of artificial intelligence makes it cheaper and faster for students and alumni to spin up new businesses. "You can actually be three kids in a garage and launch pretty fierce products," he said.With Hargreaves on board, Fiance hopes to invest later in companies it previously backed. His hiring gives the firm the resources and knowledge to help founders shape their businesses into the next generation of Berkeley-born unicorns, as well as diligence them for potential follow-on financing. The House Fund said it can write checks up to $10 million.The House Fund has raised over $330 million from backers, including the Berkeley Endowment Management Company, UC Investments (the office that manages the working capital, retirement savings, and endowment funds for the University of California system), and Ahoy Capital, a boutique fund manager.Hargreaves put the firm's value add this way: "If we are on your cap table, we are a shortcut to anything Berkeley."

These tech investors are trawling UC Berkeley to fund the next Perplexity or Databricks

<ul><li>Mukesh Ambani regained his No. 1 position even as his wealth grew only 2% in the year.</li><li>Nearly 65% of people in the list amassed a combined wealth of close to $1 trillion.</li><li>As many as 55 people dropped out of the rich list, the most notable being Byju Raveendran.</li><li>Startup founders’ wealth saw a collective dip of ₹85,000 crore. </li></ul>A lot has changed in the last one year, but there are few surprises in the 360 ONE Wealth Hurun India Rich List 2023 released on Tuesday. The chairman of Reliance Industries Mukesh Ambani surged to the top spot as India’s richest man. India has added 38 <keyword id="6393637" type="General" weightage="20" keywordseo="billionaires" source="Orion">billionaires</keyword> to its rich list, taking the total tally to 259. Even as the developed world is staring at a recession, India is cementing its position as an economic powerhouse. Nearly 65% of people in the rich list amassed a combined wealth of close to $1 trillion. This is akin to the combined GDP of Singapore and the UAE, Hurun said. Mukesh Ambani surpassed Gautam Adani, who dropped to the second spot, in spite of only a 2% growth in his wealth in the last one year. After Adani’s wealth more than halved in the last year, the gap between Ambani and Adani wealth widened by ₹3,30,000 crore. The top 10 has seen a lot of upheaval in the last one year – as only Shiv Nadar and Cyrus Poonawala were able to hold on to the positions they held last year. Gautam Adani’s brother Vinod Shantilal Adani who was the sixth richest Indian last year, exited the top 10 list this year. He is now the twelfth richest Indian after his wealth dropped by 37%. The other notable exit is Uday Kotak, the chairman of Kotak Mahindra Bank who is now the 11th richest man in the county after his wealth dropped 6% last year. Kumar Mangalam Birla &amp; family and Niraj Bajaj &amp; family made a remarkable return to the top 10 this year as wealth went up by 5% and 7% respectively. India <keyword id="8030144" type="General" weightage="20" keywordseo="top-10-richest" source="Orion">Top 10 richest</keyword> Indians <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Rank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Name </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wealth </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mukesh Ambani &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹808,700 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gautam Adani &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹474,800 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-57% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cyrus S Poonawalla &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹278,500 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">36% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shiv Nadar &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹228,900 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">23% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gopichand Hinduja &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,76,500 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dilip Shanghvi </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,64,300 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">23% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LN Mittal &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,62,300 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Radhakishan Damani &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,43,900 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-18% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">9 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kumar Mangalam Birla &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,25,600 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Niraj Bajaj &amp; family </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,20,700 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7% </td></tr></tbody></table>Source: 360 ONE Wealth Hurun India Rich List 2023 ‘India a shining moon as world stares at recession’ The cumulative wealth of 1,319 individuals who possess more than ₹1,000 crore in the rich list went up by 8.5% in the last year. However, their average wealth has decreased by 9.3%. The India Rich List added 273 new entrants and 38 new billionaires over the last year. The number of dollar billionaires also went up to 259, up 38 as compared to last year. “The trends prove that India is a shining moon in a world that is staring at recession. While the China Rich List has dropped 10% for each of this year and last year, both in terms of average wealth and in terms of the number of people that make the list. India is closing the gap,” said Anas Rahman Junaid, MD and Chief Researcher, Hurun India. India has 259 billionaires, up 38 compared to last year. While industrial products, metals &amp; mining added the greatest number of new entrants to the list. Pharma still holds the numero uno position and contributed 133 entrants to the list. “Over the past five years, many entrepreneurs have witnessed extraordinary wealth growth, some experiencing an astonishing 1,000% surge. Construction and engineering emerge as the top gainers in the top 100 list, followed closely by pharmaceuticals which has a cut-off of ₹20,000 crore,” said Anirudha Taparia, co-founder and joint CEO, 360 ONE Wealth. Funding winter &amp; founders’ wealth While 264 in the Indian rich list saw their wealth drop in the last one year, there were as many as 55 dropouts. The most notable of the dropouts is Byju Raveendran. The founder of edtech Byju’s exited the list on the back of investor markdowns. The funding winter and its ripple effects led to startup founders on the list experiencing a collective wealth dip of ₹85,000 crore. Recent policies, like the retrospective GST imposition on gaming companies and the angel tax and so on, could potentially hinder long-term wealth generation by startups, Hurun said. However, a few IPOs that stumbled last year did make a comeback. As new-age internet companies gain in value, entrepreneurs like Deepinder Goyal of Zomato and Yashish Dahiya of PB Fintech have seen their wealth increase by over 70%. Startup wealth creation will persist, albeit within a changing landscape, Junaid said. The IPO stars: Public issues and rich list debuts The stock markets also rewarded many public debuts and made their founders into billionaires. Ramesh Kunhikannan’s Kaynes Technology made a strong stock market debut. And he entered the list with a wealth of ₹8,200 crore. The spectacular listing gains provided by stock market debuts of many companies have pulled their owners into the rich list. Some of them include Jagdish Prasad Chowdhary of Titagarh Wagons, Ranjit Pendurthi of Archean Chemical Industries and Ajay P Thakker &amp; family of Jupiter Life Line Hospitals. Pavan Kumar Bajaj and Karan Bajaj of Electronics Mart India and Harsha Engineers’ Harish Rangwala and Rajendra Shantilal Shah too entered the coveted list of richest Indians after their stocks skyrocketed on debut. But there is money to be made in private markets too. Manish Kejriwal of Kedaara Capital became the first Indian Private Equity fund manager to enter the list.

Hurun India Rich List: Birla and Bajaj back in the top ten with Ambani on top in 2023

<ul class="summary-list"><li>Infertility is top of mind for many adults having children later or with a partner of the same sex.</li><li>Startups like Carrot and Progyny provide fertility-treatment coverage to fill healthcare-plan gaps.</li></ul>As Vernize Rios stood in her office's printing room, she rested her hand on her swollen belly and took in a deep breath.In a few days Rios would undergo a procedure to extract and freeze her eggs. She'd been saving up for years to afford it, hoping to preserve her dream of becoming a <a target="_blank" href="https://www.businessinsider.com/older-parent-lessons-self-care-age-insecurity-2024-1">later-in-life parent</a>. (The medical community often refers to <a target="_blank" href="https://www.acog.org/womens-health/faqs/having-a-baby-after-age-35-how-aging-affects-fertility-and-pregnancy">pregnancy after age 35</a> as a <a target="_blank" href="https://my.clevelandclinic.org/health/diseases/22438-advanced-maternal-age">"geriatric" pregnancy</a>. The American College of Obstetricians and Gynecologists has said that carrying a pregnancy later in life could increase the risk of various complications, including preeclampsia.)Rios, 36, said she grew up wanting to build a family of her own but also saw value in focusing on her career in her early 20s before becoming a parent. Rios said she hoped she'd meet someone and get pregnant with them after settling into a stable career. But that wasn't the case by the time Rios was in her early 30s, so she looked into freezing her eggs.Rios, who works as an office-and-facilities manager in New York City, said she anticipated the egg-freezing process would be a major financial investment, and that she was willing to dip into her retirement savings to afford the treatment.Rios said she was able to afford the nearly $15,000 egg-freezing procedure — which involved blood work, hormone injections for ovarian stimulation, and egg retrieval — because her employer, Chegg, covered the up-front costs through its partnership with the fertility-benefits startup Carrot.Carrot is one of <a target="_blank" href="https://www.businessinsider.com/fertility-startups-booming-despite-market-downturn-2023-6">several fertility-benefits startups</a> that have emerged in recent years to address the evolving family-planning landscape. As more people choose to have children later in life, fertility treatments like IVF, hormone therapy, and cryopreservation are more frequently sought-after. And with more married LGBTQ+ couples interested in starting families, there's been greater interest in treatments like surrogacy, egg donation, and sperm donation. In a <a target="_blank" href="https://www.pewresearch.org/short-reads/2023/09/14/a-growing-share-of-americans-say-theyve-had-fertility-treatments-or-know-someone-who-has/">2023 Pew Research Center survey</a>, four in 10 adults said that they knew someone who had used fertility treatments or that they had used the services themselves.As interest in fertility-related care has increased, so has the number of US workers asking their employers for healthcare benefits for fertility-specific treatments — services that <a target="_blank" href="https://www.kff.org/womens-health-policy/issue-brief/coverage-and-use-of-fertility-services-in-the-u-s/">typically cost people tens of thousands of dollars</a>. Enter startups like Carrot, Progyny, and Kindbody that <a target="_blank" href="https://www.businessinsider.com/walmart-expands-fertility-options-for-us-employees-2022-9">partner with employers</a> to help cover pricey fertility treatments when employees' healthcare plans lack that coverage.<h2 id="4157e15b-3839-4165-96a3-04ce57ff232c">Many American workers want fertility benefits</h2>In a <a target="_blank" href="https://www.hr-brew.com/stories/2024/03/27/ivf-fertility-benefits-harris-poll">survey</a> conducted in March by Harris Poll and HR Brew, three in five Americans said they wanted their workplace to offer fertility benefits.This year, the US government began offering <a target="_blank" href="https://19thnews.org/2024/04/employers-ivf-fertility-benefits-federal-government/">fertility benefits to federal employees</a> through its healthcare plan with Blue Cross Blue Shield. But a swath of US workers are without healthcare plans that cover fertility-treatment expenses.Public and private insurance companies often don't consider fertility treatments medically necessary, meaning services to address infertility typically aren't covered, even partially.Because of these coverage restrictions, hopeful parents-to-be might carefully consider the jobs they apply for and take. Some have chosen to <a target="_blank" href="https://www.businessinsider.com/work-starbucks-for-the-ivf-benefits-take-home-zero-dollars-2022-2">work a second job at Starbucks</a> because fertility services are included in the company's health-insurance packages. Others are <a target="_blank" href="https://www.reddit.com/r/actuary/comments/1byvxr2/companies_with_fertility_benefits/">considering positions</a> only at <a target="_blank" href="https://community.whattoexpect.com/forums/ivf-or-fet-pregnancy/topic/companies-with-fertility-benefits-157486627.html">companies that offer fertility benefits</a>.Dr. Asima Ahmad, the cofounder and chief medical officer of Carrot, said it's common for adults who want children to exhaust all their options while family planning."I have patients who come for a fertility consultation and they don't have coverage," Ahmad said. "Then I don't see them for six months, 12 months, or three years. But they come back, and it's because they got a new job or a new part-time job with fertility coverage." She added that many of Carrot's employer partnerships start after a company's employee tells their human-resources department they want the benefit.That's what Rios found herself doing in her employee-engagement surveys at Chegg until January 2022, when the company announced it would offer Carrot to full-time employees. A few days later, Rios said, she signed up for a session with one of Carrot's fertility consultants to start her egg-freezing process.<h2 id="1a483ed5-933c-4c79-80d3-f1ebd87c140d">Fertility-specific startups can fill in gaps in employee healthcare plans</h2>Ahmad said she cofounded Carrot after seeing a <a target="_blank" href="https://journalofethics.ama-assn.org/article/infertility-inequality-and-how-lack-insurance-coverage-compromises-reproductive-autonomy/2018-12">need for more accessible and affordable fertility treatments</a> during her medical training.When an employer partners with Carrot, Progyny, or another fertility-benefits company, it commits a set amount of money toward each employee who elects to use fertility benefits. The employer's investment translates to a menu of options for employees, like a round of IVF or a round of egg freezing for each billing cycle.Rios said treatment funds were loaded on her <a target="_blank" href="https://www.get-carrot.com/blog/carrot-members-can-access-more-than-10-000-high-quality-providers-worldwide-using-the-carrot-card">Carrot debit card</a> at two separate times. She used the card to pay for treatments; later, Chegg reimbursed her the full $14,291 to her bank account.Though fertility startups can increase access to expensive services, many people still face challenges in seeking fertility treatments.In online forums, some people have described experiencing <a target="_blank" href="https://www.reddit.com/r/queerception/comments/14b40if/carrot_fertility/">long wait times and complicated paperwork</a> to get reimbursed for out-of-pocket costs while using fertility benefits through work. Rios and others online said they had to pay taxes on their covered fertility costs — which they didn't anticipate, considering <a target="_blank" href="https://www.taxpolicycenter.org/briefing-book/how-does-tax-exclusion-employer-sponsored-health-insurance-work">most employer-paid healthcare plan premiums are tax-exempt</a>.And since fertility coverage through these startups requires an employer to opt in, some employees may never gain access to such benefits.<h2 id="32049688-ec6a-4ccd-a5a4-eac9b7c3bd73">An investment in employee satisfaction</h2>Offering fertility benefits to workers can help employers <a target="_blank" href="https://www.businessinsider.com/fertility-benefits-a-must-for-attracting-millennial-talent-ceo-says-2024-6">attract talent</a> and keep their employees satisfied for longer."While not a lot of employers offer it yet, you see a lot of signals in the market that there's consideration and thoughtfulness about how to offer it in the future, to signal that they're kind of a future-ready company that has their values aligned with next generational talent," Libby Rodney, the chief strategy officer at Harris Poll, told HR Brew.In 2022, while Rios waited for her sheets to print in the Chegg office, the company's CEO, Dan Rosensweig, entered the room to sign papers. With her egg-freezing procedure approaching, Rios decided to tell Rosensweig how appreciative she was of the access to fertility benefits, she said.Rios said that after she had her eggs extracted, she elected to freeze the ones viable for creating an embryo, even though her doctor said it was a lower number of viable eggs than typical. Rios added that she'd pay for another round of cryopreservation tomorrow if she could afford it. "Should I hit the lotto or an additional $15,000 falls into my lap, that's what I would definitely use it for," Rios said.She's still at Chegg and has no plans to leave, saying the fertility benefits contributed to her happiness as an employee."It set the bar really high," Rios said.

Many working Americans want children later in life. Fertility startups are making their dreams more possible.

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Hello! A submersible superyacht sounds like it should belong to a supervillain in an animated movie. But an Austrian company says it's a real possibility, and it's <a target="_blank" href="https://www.businessinsider.com/submersible-superyacht-for-mega-wealth-underwater-luxury-migaloo-shark-rich-2024-5">already in talks with potential buyers</a>.On the agenda:<ul><li>Silicon Valley is betting on a Goldman prodigy <a target="_blank" href="https://www.businessinsider.com/california-forever-jan-sramek-goldman-sachs-silicon-valley-city-future-2024-4">to build the city of the future</a>.</li><li>The more you earn, the <a target="_blank" href="https://www.businessinsider.com/hiring-slump-professional-white-collar-jobs-recession-high-salary-2024-4">harder it is to find a job right now</a>.</li><li>Big Tech has a big <a target="_blank" href="https://www.businessinsider.com/big-tech-green-card-applications-pause-2024-5">green-card problem</a>.</li><li>The hedge-fund industry's newest rock stars <a target="_blank" href="https://www.businessinsider.com/hedge-fund-business-development-job-citadel-millennium-point72-bds-2024-4">don't manage money</a>.</li></ul>But first: Why Wall Street is so happy to see <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-today-light-april-jobs-report-bond-yields-tumbling-2024-5">the job market slowing down</a>.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today-sunday-edition">sign up here</a>. Download Insider's app <a target="_blank" href="https://www.insider.com/app">here.</a><div type="image" title="stock market job market" height="1414" width="2121" msid="109861416" hostid="261" sizebytes="97348"></div><h2>This week's dispatch</h2>Job market slowdownThe US economy added <a target="_blank" href="https://www.businessinsider.com/labor-market-april-unemployment-rate-job-growth-wages-2024-5">175,000 jobs</a> in April, falling short of expectations for the first time in six months and showing a steep drop from the revised 315,000 figure for March.That sent <a target="_blank" href="https://www.businessinsider.com/labor-market-april-unemployment-rate-job-growth-wages-2024-5">stocks soaring</a> and bond yields plunging. Why? A higher number had the potential to push any rate cuts from the Federal Reserve further out into the future. A lower number would signal cracks in economic growth and hint at <a target="_blank" href="https://www.businessinsider.com/stagflation-us-economy-gdp-growth-outlook-recession-forecast-inflation-rates-2024-4">stagflation</a>.Instead, investors took the not-too-high, not-too-low hiring numbers as a sign that the hoped for <a target="_blank" href="https://www.businessinsider.com/recession-outlook-soft-landing-odds-economy-inflation-job-market-goldman-2024-3">soft landing</a> for the economy is still on the cards, despite sticky inflation."In our view, the softening trend in labor markets will make it easier for the Fed to cut rates," Brian Rose, a senior US economist at UBS Global Wealth Management, wrote.While investors might be happy with the jobs numbers, they're likely to do little for the economic mood. Wage growth slowed while unemployment picked up. White-collar workers are <a target="_blank" href="https://www.businessinsider.com/hiring-slump-professional-white-collar-jobs-recession-high-salary-2024-4">finding it harder to get hired</a>.It's a reminder that good news for the stock market isn't always good news for workers.<div type="image" title="Jan Sramek standing in wide field of grass with powerlines in the and a wooden shed in the back" height="4000" width="5998" msid="109861417" hostid="261" sizebytes="1924570"></div><h2>Big Tech's urban hero</h2>Jan Sramek quietly became the largest landowner in Solano County, a sparsely populated area wedged between Napa and Sacramento that he hopes will one day become California Forever.Sramek, a former Goldman Sachs trader, is backed by a who's who of Silicon Valley billionaire investors. Tech barons from Reid Hoffman to Marc Andreessen are betting on him to make the city of the future — the question is whether he can pull it off.<a target="_blank" href="https://www.businessinsider.com/california-forever-jan-sramek-goldman-sachs-silicon-valley-city-future-2024-4">Meet the man behind California Forever</a>.<div type="image" title="People standing in line near a street sign that says &quot;slow&quot;" height="500" width="1000" msid="109861419" hostid="261" sizebytes="50296"></div><h2>The white-collar recession</h2>For people who've recently searched for a job, the market appears to be brutal.That's especially true if you're a relatively high-earning worker. New data from Vanguard shows a two-tier job market: one divided between a blue-collar boom and a white-collar recession.<a target="_blank" href="https://www.businessinsider.com/hiring-slump-professional-white-collar-jobs-recession-high-salary-2024-4">Why high-earners can't find work</a>.Also read:<a target="_blank" href="https://www.businessinsider.com/how-to-negotiate-job-offer-tight-market-microsoft-vp-2024-5">10 things you should be negotiating every time you land a job offer, according to ex-Microsoft HR VP</a><div type="image" title="An illustration of an evaporating green card." height="960" width="1920" msid="109861420" hostid="261" sizebytes="154248"></div>Big Tech's green card problemAs competition dwindles and the green-card process gets tougher, some Big Tech companies are backing off green-card applications.The situation is making it harder for foreign tech workers to stay in the US. One top immigration attorney said overseas candidates may want to search far beyond Silicon Valley and New York City for jobs in the industry.<a target="_blank" href="https://www.businessinsider.com/big-tech-green-card-applications-pause-2024-5">More on that here</a>.Also read:<ul><li><a target="_blank" href="https://www.businessinsider.com/google-requests-update-immigration-rules-hire-top-ai-talent-2024-5">Google says immigration rules are making it hard to hire top AI talent</a></li><li><a target="_blank" href="https://www.businessinsider.com/us-startups-sponsor-h1b-work-visas-2024-1">Here are the 25 startups that sponsor the most H-1B visas for immigrants looking for work</a></li></ul><h2>The portfolio-manager whisperers</h2>The new power figures in hedge funds do not manage money. Instead, these business development professionals scout and evaluate investment talent.These so-called BD roles, once an under-the-radar gig, have become coveted, multimillion-dollar jobs amid the war for talent.<a target="_blank" href="https://www.businessinsider.com/hedge-fund-business-development-job-citadel-millennium-point72-bds-2024-4">Inside the rise of the business-development professional</a>.Also read:<ul><li><a target="_blank" href="https://www.businessinsider.com/april-hedge-fund-performance-citadel-millennium-schonfeld-point72-walleye-2024-5">Citadel's stock-pickers lead the way in April — here's how hedge fund competitors fared</a></li></ul>This week's quote:"Satya (Nadella) and the entire senior leadership team lean on (Bill) Gates very significantly. His opinion is sought every time we make a major change."- A Microsoft executive on <a target="_blank" href="https://www.businessinsider.com/bill-gates-still-pulling-strings-microsoft-ai-copilot-chatgpt-2024-4">Gates' continued presence</a>.<h2>More of this week's top reads:</h2><ul><li>Endless Shrimp didn't kill Red Lobster. <a target="_blank" href="https://www.businessinsider.com/red-lobster-endless-shrimp-bankruptcy-private-equity-debt-real-estate-2024-5">Wall Street did</a>.</li><li>Joseph Stiglitz explains why <a target="_blank" href="https://www.businessinsider.com/joseph-stiglitz-book-interview-on-america-appetite-for-trump-policies-2024-5">America's appetite for Trump endures</a>.</li><li>The US's major job hubs are now cities like <a target="_blank" href="https://www.businessinsider.com/job-growth-housing-costs-coastal-cities-sunbelt-charleston-south-carolina-2024-5">Charleston and Hilton Head, South Carolina</a>.</li><li>Tesla tells the EV industry: <a target="_blank" href="https://www.businessinsider.com/teslas-supercharger-changes-hurt-wider-ev-industry-2024-5">Fend for yourselves</a>.</li><li>Quit hosting PowerPoint <a target="_blank" href="https://www.businessinsider.com/powerpoint-parties-trend-tiktok-gen-z-work-pandemic-socializing-2024-5">parties with your friends</a>.</li><li>Gen Z is outpacing boomers on income and <a target="_blank" href="https://www.businessinsider.com/gen-z-millennials-boomers-generations-wealth-income-homeownership-inflation-interest-2024-5">millennials on home ownership</a>.</li><li>Biden used ChatGPT for the first time. <a target="_blank" href="https://www.businessinsider.com/biden-chatgpt-ai-openai-sam-altman-executive-order-2024-5">Here's how that went.</a>The Insider Today team: <a target="_blank" href="https://www.businessinsider.com/author/matt-turner">Matt Turner</a>, deputy editor-in-chief, in New York. <a target="_blank" href="https://www.businessinsider.com/author/jordan-parker-erb">Jordan Parker Erb</a>, editor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, deputy editor and anchor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/lisa-ryan">Lisa Ryan</a>, executive editor, in New York.</li></ul>

The new power figures in hedge funds do not manage money

ETFs performed better than actively-managed equity mutual funds in FY23

Despite economic uncertainties, the hiring activity among startups has significantly increased in April this year, while there has been a 6 per cent decline in e-recruitment for white-collar compared to the same period in 2022, a new report said on Tuesday. According to the report by foundit (previously <keyword id="17366670" type="General" weightage="20" keywordseo="monster-india-apac" source="Orion">Monster India &amp; APAC</keyword>), there has been a 4 per cent monthly dip, indicating cautious hiring sentiments among Indian recruiters. Although some sectors like <keyword id="6356925" type="General" weightage="80" keywordseo="bfsi" source="Orion">BFSI</keyword> (+3 per cent), <keyword id="383675" type="General" weightage="20" keywordseo="travel-tourism" source="Orion">Travel &amp; Tourism</keyword> (+2 per cent), and Import/Export (+13 per cent) experienced a boost on a month-on-month (MOM) basis, other sectors, such as Logistics, Home appliances, and Oil and gas, saw a significant decline. "Although hiring has declined, there are still a plethora of job opportunities in emerging industries for job seekers. Remarkably, the Indian startup ecosystem has taken a turn, exhibiting resilience in hiring intent despite the prevailing job market challenges," said Sekhar Garisa, CEO, foundit. Moreover, the report showed that the Retail (22 per cent), Travel &amp; Tourism (19 per cent) are among the top industries exhibiting positive growth year-on-year basis, while BFSI (-4 per cent) and BPO (-13 per cent) sectors continue to be apprehensive. The overall hiring demand among startups has noted a strong 19 per cent (year-on-year) growth this April 2023 compared to the previous year. In addition, while most cities showed an overall decline in hiring, startups in Bangalore, Mumbai and Delhi hosted maximum demand for professionals. However, in the first quarter (Q1) of 2023, Indian startups raised a total of $2.8 billion in funds, a massive 75 per cent decrease compared to the same period in the previous year ($11.9 billion), as rising inflation and interest rates continue to impact investments significantly amid a deepening funding winter. There were no new unicorns created in the January-March period, compared with 14 unicorns in Q1 2022, according to a recent report by <keyword id="2779670" type="General" weightage="80" keywordseo="tracxn" source="Orion">Tracxn</keyword>, a leading global market intelligence platform. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-closes-at-61761-on-fag-end-volatility-after-crossing-62000-during-the-day/articleshow/100101148.cms">Sensex closes at 61,761 on fag-end volatility after crossing 62,000 during the day</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-weighed-down-strong-greenback-falls-27-paise-to-close-at-82-05/usd/articleshow/100101208.cms">Rupee weighed down strong greenback, falls 27 paise to close at 82.05/USD</a>

Hiring in startups up in April, despite 6% annual drop in e-recruitment: Foundit report

<ul class="summary-list"><li>The venture capital industry could face a big contraction in the near future.</li><li>Thats's according to Scott Stanford, cofounder and partner at ACME Capital, an early-stage VC firm.</li></ul>It's no secret: Venture capitalists are <a target="_blank" href="https://www.businessinsider.com/lps-are-defaulting-firm-buying-up-their-stakes-2024">hurting</a>.A slowdown in VC deal <a target="_blank" href="https://www.businessinsider.com/venture-capital-funding-crunch-will-continue-2024-2023-12">activity</a>, which started in late 2022, has continued into the first quarter of this year, accounting and advisory firm EisnerAmper <a target="_blank" href="https://www.eisneramper.com/insights/financial-services/venture-capital-q1-vc-blog-2024/#:~:text=The%20slowdown%20in%20VC%20deal,was%20invested%20across%2015%2C580%20deals.">wrote</a> in an analysis published on June 16.You've heard this story before: inflation, interest rate uncertainty, and low M&amp;A volume are having <a target="_blank" href="https://www.inc.com/sam-blum/the-state-of-venture-funding-in-2024-so-far-anemic.html">chilling effects</a> on the investing environment.Venture capital has cyclical fluctuations, but Scott Stanford, a cofounder and partner at ACME Capital, an early-stage VC firm, thinks something more meaningful is underway."It's not crazy to think half the VC firms that were actively investing in the last decade will be sidelined and eventually collapse," he wrote in an email to BI.The first wave will die off in the next five years. Ten years from now, the damage will be evident, he said.Some simple back-of-the-napkin math paints a grim picture.In a chart compiled by Stanford and shared with BI, by 1990, there were 300 VC firms overseeing $17 billion in assets. Over the last two decades, those numbers went through the roof. Now, there are 3,000 VC firms overseeing $1.2 trillion.By contrast, the increase in exits is modest at best. By 1990, VC-backed IPOs totaled $12.7 billion. By 2021, that increased to $60.1 billion. And it's a similar story with VC-backed M&amp;A deals.The venture industry got ahead of itself, in other words: The proliferation of firms and the money they're managing is not supported by the financial value they're creating."As the venture capital industry matured over the past several decades, euphoric momentum investors, not technologists, drove the creation of funds and the deployment of capital, blind to the nuances and challenges of timing innovation cycles," Stanford and ACME cofounder Hany Nada told investors in a recent letter shared with BI."Just as investors mistime specific investments or funds, the venture industry as a whole got as much as a decade or two ahead of reality, leading to an overcrowded, overcapitalized, and overvalued market," they added.<h2 id="03af2507-6311-43f3-ae85-0c2bb24e15b1">VC backers have other options</h2>Other factors will serve to cull the herd in VC, per Stanford.Limited partners (LPs), or investors who put money into venture firms, have other options thanks to higher interest rates, Stanford added. Low-risk investments like investing in Treasury bonds, for one example, are commanding a decent return.Tech, meanwhile, is "no longer an elusive sprite commanding irrational M&amp;A premiums or IPO exuberance," Stanford said.Once upon a time, a startup claiming they were a tech company somewhere in their pitch deck might command a billion-dollar valuation. That era is long gone.Finally, AI isn't necessarily the next panacea, Stanford said.The jury is out on whether it spawns the next generation of unicorns — when leaders like OpenAI are providing the tech openly, and anyone can use it to spin up decent products.All told, in this environment, investors without deep expertise, powerful networks, or mega-funds to deploy will be hard-pressed to raise money and build enduring franchises, Stanford said."A VC without capital is like a tennis player without a racquet," he said. "They can give interviews and make headlines but they aren't invited on the court."<div type="image" title="The ACME Capital team." height="4002" width="6000" msid="111124353" hostid="261" sizebytes="1317914"></div><h2 id="73f0b2e9-ab0b-4b58-a988-7c2cd0c879b8">VCs will have to take risks again</h2>Stanford believes today's challenges will give way to a new — or, rather, an old — era of VC investing.Tons of startups that went to market in the last handful of years had a similar strategy: Backed with millions in funding, they launched an app that was slightly better than someone else's.In the past, you could get away with making social features, apps, and incrementally better software in this fashion, Stanford said.Nowadays, incumbents can do all that themselves.So, investors that survive the contraction will have to back companies that are actually inventing things and therefore come with a sizable risk profile.When those companies get it right, they generate outsized returns. When they get it wrong, they go to zero.Maybe these VCs can be part of what Stanford describes as a renaissance of technology, "where systems work for us versus us working for them," he and Nada wrote to LPs.

A top VC predicts the industry is heading for a massive and enduring contraction

<ul><li>On Monday, Gunjan Patidar, Zomato’s co-founder and chief technology officer tendered his resignation.</li><li><keyword id="7349800" type="General" weightage="20" keywordseo="bharatpe" source="Orion">BharatPe</keyword>’s CEO Suhail Sameer has quit the top job to become its strategic advisor.</li><li>There has been a lot of churn in new-age companies like Nykaa, and also big techs like Meta India, WhatsApp Pay, Amazon India and more.</li></ul>New age companies in India have been hit by a flurry of exits by top executives, leaving them scurrying for replacements. This comes at a time when startups have been battling funding winter and elevated inflation, in a rising interest rate regime. BharatPe, a fintech is amongst those with multiple high profile exits, including its co-founder and former managing director Ashneer Grover, along with his wife Madhuri Jain Grover – who not only had to leave the company, but were also sued by BharatPe in December 2022 for ₹88.6 crore. The company alleged that both husband and wife engaged in misappropriation of funds including creating fake bills, enlisting fictitious vendors and so on. Adding to BharatPe’s woes is the <a href="https://www.businessinsider.in/business/startups/news/bharatpe-ceo-suhail-sameer-to-step-down-five-months-after-taking-over/articleshow/96703750.cms">departure</a> of its CEO Suhail Sameer on January 3. Sameer took over as the company’s CEO in August 2021, a year after being appointed as the company’s president. He will now serve as a strategic advisor starting January 7, 2023. Before Sameer, BharatPe witnessed the departure of four other high level executives last November. This includes Nehul Malhotra, head of PostPe which is BharatPe’s ‘Buy Now Pay Later’ arm. The others were the CTO Vijay Aggarwal; Rajat Jain, the chief product officer; and Geetanshu Singla, VP of technology. They moved on to pursue their own entrepreneurial passions, the company had then said in a statement. Zomato rocked by multiple top level exits, too Sameer’s resignation comes hours after Gunjan Patidar, Zomato’s co-founder and chief technology officer, tendered his resignation. Patidar was one of the first few employees of Zomato who built the core tech systems of the company. “Over the last ten plus years, he (Patidar) also nurtured a stellar tech leadership team that is capable of taking on the mantle of leading the tech function going forward. His contribution to building Zomato has been invaluable,” said the company. Patidar’s exit is the third high-level exit at the food delivery giant in two months. In November last year, another one of Zomato’s co-founders Mohit Gupta tendered his resignation. Its head of new initiatives Rahul Ganjoo; and Siddharth Jhawar, vice-president of global growth also quit in the same month. The list goes on as in September 2022, Zomato’s deputy CFO Nitin Savara also tendered his resignation. The company has been bleeding money and it reported a consolidated loss of ₹251 crore in Q2 FY23. New age companies’ top heads move in and out of big tech companies There is a lot of churn among top executives of new-age tech companies as well as big techs. Online beauty retailer Nykaa’s CFO Arvind Agarwal, who had been with the company through its IPO, quit and joined fintech major PayU as its India CFO, this November. On the other hand, new-age companies have also been able to attract executives from major companies into their fold as well. Case in point is Sugar Cosmetics who brought in Amit Aggarwal, Marico’s head of finance of its India business, as its CFO. Adding to it, Amazon India’s director of grocery, food and health Sameer Khetarpal resigned and moved to Jubilant FoodWorks as CEO, a franchisee that runs Domino’s Pizza, Dunkin Donuts outlets in India. Meta India country head Ajit Mohan tendered his resignation in November 2022, to join rival Snap as the President of Asia Pacific. Following this, WhatsApp India’s head Abhijit Bose and Meta India’s public policy head Rajiv Aggarwal also resigned. The latter joined Samsung India. WhatsApp Pay’s director and head Manesh Mahatme also left his position in September to join Amazon India as director, product and engineering. Last but not the least, another shocking exit was of Parag Agarwal, former CEO of Twitter who was fired by Elon Musk in October, a year after he was appointed for the position. Soon after his ouster, Agrawal changed his LinkedIn bio to “Not the CEO you are looking for”. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/radiant-cash-management-shares-debut-at-a-10-premium-after-company-reduces-ipo-size/articleshow/96727374.cms">Radiant Cash Management shares debut at a 10% premium after company reduces IPO size</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/shark-tank-indias-season-2s-sharks-meet-the-serial-investors-cas-and-iit-and-iim-alumni/articleshow/96714262.cms">Shark Tank India’s Season 2’s sharks: Meet the serial investors, CAs, and IIT and IIM alumni</a>

Zomato, BharatPe, Nykaa and more: the revolving door for top execs at new age companies

<ul class="summary-list"><li>For some American voters, US support for Ukraine is a key issue.</li><li>That's true for those who support aid to Ukraine and for those who believe the US is doing too much.</li></ul>One of the most defining foreign policy issues of President Joe Biden's tenure has been the <a target="_blank" href="https://www.businessinsider.com/congress-vote-could-make-break-ukraine-in-war-with-russia-2024-4">war in Ukraine.</a>After Russia launched an invasion of the country in 2022, support for Ukraine — and providing tens of billions of dollars in aid — was bipartisan.Congress has approved $175 billion for the war effort so far, some of which has gone directly to Ukraine and some of which has been spent <a target="_blank" href="https://www.businessinsider.com/ukraine-aid-bill-help-american-jobs-military-defense-business-economy-2024-4">on weapons manufacturing in the US.</a>In the last two years, a wide partisan gap has opened over the issue. In April, a <a target="_blank" href="https://www.businessinsider.com/which-house-republicans-voted-against-ukraine-russia-aid-2024-4">majority of House Republicans</a> voted against Ukraine aid.Biden has broadly signaled that his administration intends to continue providing aid to Ukraine. Former President Donald Trump, meanwhile, would likely curtail aid to Ukraine in a bid to end the war.Here's a look at each candidate's stance on the issue.<h2 class="premium" id="24b5896f-83f5-4b23-b6a1-42591ce94e58">Where Joe Biden stands on Ukraine</h2>Since the beginning of the war, Biden and his administration have remained staunchly in favor of providing aid to Ukraine.Biden and other Democrats have argued that doing so is not merely an act of charity, but a relatively cost-efficient means of combating Russian aggression and upholding the US-led world order.Recently, the Biden administration and other NATO countries decided to <a target="_blank" href="https://www.businessinsider.com/nato-giving-ukraine-shot-repelling-russian-glide-bomb-strikes-kharkiv-2024-6">let Ukraine use their weapons</a> to strike targets inside Russia, potentially breaking a long-standing stalemate.During a recent interview with TIME at the end of May, Biden seemed to indicate that he is not supportive of a negotiated settlement of the conflict along current battle lines."Peace looks like making sure Russia never, never, never, never occupies Ukraine," said Biden. "That's what peace looks like."<h2 id="4aef11b1-a616-4fd2-b2a4-f61c93c3d303">Where Donald Trump stands on Ukraine</h2>Trump's position on Ukraine is somewhat murky.He has floated the idea of giving aid to Ukraine <a target="_blank" href="https://www.businessinsider.com/republicans-skeptical-trump-ukraine-loan-wont-be-paid-2024-3">in the form of a loan</a>, something that even some of his allies have balked at. In March, Hungarian President Viktor Orbán claimed that Trump would <a target="_blank" href="https://www.businessinsider.com/nato-giving-ukraine-shot-repelling-russian-glide-bomb-strikes-kharkiv-2024-6">totally cut off funding for Ukraine</a> if he won, which the former president later denied.His most consistent line when it comes to Ukraine has been that Europe is not doing enough — and the US is doing too much — to aid the country, and that he would move to swiftly end the war if elected.Thus, one can expect a second Trump administration to be far less supportive of Ukraine's current war aims.For one, the GOP — especially at the congressional level — has swiftly turned against more aid. Trump's closest allies in Congress, including Sen. JD Vance of Ohio and Rep. Marjorie Taylor Greene of Georgia, are fierce opponents of Ukraine aid.Additionally, the Washington Post reported in April that Trump favors <a target="_blank" href="https://www.businessinsider.com/zelenskyy-trump-ukraine-war-end-plan-secret-cede-territory-2024-4">pushing Ukraine to cede some territory to Russia</a>, including the currently Russian-occupied regions of Crimea and the Donbas.

Is Ukraine your top issue? Here's a guide to each 2024 candidate's stance.

<ul class="summary-list"><li>Can America hold onto the power it accrued in the 20th century?</li><li>Marc Andreessen and Ben Horowitz would like to think startups can play a key role in that process.</li></ul><a target="_blank" href="https://www.businessinsider.com/see-inside-investor-marc-andreessens-33-million-house-for-sale-2024-3">Marc Andreessen</a> and <a target="_blank" href="https://www.businessinsider.com/ben-horowitz-andreessen-horowitz-startup-slowed-down-investing-venture-capital-2022-5">Ben Horowitz</a> have been fretting about 21st-century America.Less than 24 hours after commemorating American independence on July 4, the investor duo in charge of <a target="_blank" href="https://www.businessinsider.com/andreessen-horowitz-ai-reshuffle-a16z-2023-11">venture capital firm A16z</a> published a very Silicon Valley spiel on how the US can retain the power it accrued in the 20th century.They call it the <a target="_blank" href="https://a16z.com/">"Little Tech Agenda."</a>Simply, the agenda is about "Little Tech" startups, as opposed to Big Tech companies such as Apple, Google, and Meta. The opportunities that Little Tech presents — and the threats it faces — must be fully understood if America wants to stay on top, the investors argue.It's very worth noting that both Andreessen and Horowitz are hugely incentivized as VCs to draw attention to startups. In April, <a target="_blank" href="https://a16z.com/new-funds-new-era/">their firm said it raised $7.2 billion</a> to spearhead investments into startups leading several areas, including "American Dynamism" — a catch-all term for founders leading companies that "support the national interest." Think aerospace, defense, education, housing, manufacturing.That said, the Silicon Valley veterans are ready to make their case for why concern for the future of startups extends to concern for the future of America itself.<h2 id="d840c306-f9f6-4262-b7a1-fb04556bfb9c">The Little Tech Agenda, explained</h2>Andreessen and Horowitz have a simple explanation for their new agenda: They want America to recreate the successes that gave it unassailable leadership in the 20th century.But they're not sure current circumstances will allow for that to happen.In the blog published on Friday, they wrote how America enjoyed unipolar power over the global order in the 1900s thanks to the second Industrial Revolution, the spread of computers, a championing of a free market system, and sheer military might.That said, they are aware of a growing chorus of voices that think <a target="_blank" href="https://www.businessinsider.com/polls-get-american-economy-wrong-make-next-recession-worse-jobs-2024-3">such successes will be hard to come by again</a>. "Naysayers say America's best days are behind us, that the 21st century will see America play a diminished role," they wrote. "We disagree." As VCs, their disagreement is rooted in a belief that startups have a vital role to play in ensuring America's continued role as the world's chief nation-state. The spirit that produced Ford, Lockheed Martin, and <a target="_blank" href="https://www.businessinsider.com/jeff-bezos-blue-origin-faa-spacex-starship-super-heavy-launches-2024-6">SpaceX</a> is the spirit needed for future prosperity, their argument goes.However, they think startup spirit is being wrecked by the very people who need it to ensure continued power.Andreessen and Horowitz argue that "there is no reason the 21st century cannot be a Second American Century" if the political machinery in Washington DC stops getting in the way of startups reaching their full potential.As they put it, the US government is "now far more hostile to new startups than it used to be," with regulatory agencies being "greenlit to use brute force investigations, prosecutions, intimidation, and threats" to hobble growing industries such as <a target="_blank" href="https://www.businessinsider.com/ai-new-dark-age-risks-regulations-2024-5">artificial intelligence.</a>They also claimed that regulators are getting in the way of market activities such as takeovers, and proposing new tax regimes targeting "unrealized capital gains" that would "absolutely kill both startups and the venture capital industry that funds them."Now, it's worth asking the extent to which vocalizing such concerns is really about America keeping the hot seat on the global stage until 2100 rather than helping VCs further line their pockets.<h2 id="9cfb6040-9939-4e5d-aabe-6e6fc54153a8">'Regulatory capture'</h2>The technology sector's tilt toward generative AI <a target="_blank" href="https://www.businessinsider.com/everything-you-need-to-know-about-chat-gpt-2023-1">since the launch of ChatGPT</a>, for instance, has thus far massively favored Big Tech over VCs and startups. Silicon Valley heavyweights leading the Nasdaq have earned a far larger share of the financial reward from AI than their startup counterparts.That's partly because Big Tech firms have had an easier time securing the vast amounts of capital and computing power needed to power the intensive large language models driving up AI costs.Andreessen and Horowitz also argue that Big Tech's advantage has been helped by "regulatory capture" that has served to "protect and entrench their positions."The end result, they say, is "stagnation and then decline." They'll now hope others share the view that America's future depends massively on bootstrapped founders with a dream.

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