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☆ '2024 will be the year of the zombie VC reckoning.' The first wave of walking-dead venture firms is here and it's already causing headaches for tech founders.
▼ + stars: | 2024-03-04 | by ( Ben Bergman | ) www.businessinsider.com time to read: +10 min

Unlike other businesses, venture firms do not suddenly go out of business. Limited partners such as pensions and endowments that fund venture firms have been choosier, cutting off capital to firms that have not generated acceptable returns. Why it is so difficult to spot a dying fundOpenView Venture Partners announced in December that it was suspending new investments and laying off staff. In a written statement, he later explained that Sinai Ventures has been rebranded to Sinai Capital Partners. Do you know of a venture firm no longer actively investing?

Persons: VCs, Anna Barber, they'll, they're, Roy Bahat, Brian Brackeen, Brackeen, they're reallocating, Beezer Clarkson, Clarkson, Jake Saper, Bahat, Jordan Fudge, Zachary White, Carlos Adame —, Fudge, We're, Paul Weinstein, Weinstein, Ryan Swager, Brandon Zeuner, Alsop Louie, Alsop Louie Partners, Gilman Louie, Stewart Alsop, Jason Preston, Tyler Peterson, Mike Morgan, Robert Patterson, DEFTA, George Hara, Martin Gedalin, Kevin Ober, Divergent's, Hone, Ben Bergman Organizations: Business, Bloomberg Beta, Lightship Capital, Sapphire Partners, BI, Venture Partners, Foundry Group, Sinai Ventures, Sinai Capital Partners, Capital, San, Alsop Louie Partners, Partners, Ventures Peninsula Ventures, LinkedIn Locations: Los Angeles, San Francisco, Alto , California, San Mateo , California, Lumia, Seattle, bbergman@insider.com

☆ '2024 will be the year of the zombie VC reckoning.' The first wave of dying venture firms is here and it's already causing headaches for tech founders.
▼ + stars: | 2024-03-04 | by ( Ben Bergman | ) www.businessinsider.com time to read: +10 min

AdvertisementUnlike other businesses, venture firms do not suddenly go out of business. Why it is so difficult to spot a dying fundOpenView Venture Partners announced in December it was suspending new investments and laying off staff. With the help of Pitchbook, BI looked through data for hundreds of venture firms. Hinge last raised a $19 million fund in 2021 but has not made an investment since November 2022, according to Pitchbook. Do you know of a venture firm no longer actively investing?

Persons: —, VCs, Anna Barber, they'll, they're, Roy Bahat, Brian Brackeen, they're reallocating, Beezer Clarkson, Clarkson, Jake Saper, Bahat, Jordan Fudge, Zachary White, Carlos Adame, Fudge, We're, Paul Weinstein, Weinstein, Cofounders Ryan Swager, Brandon Zeuner, Louie, Alsop Louie Partners, Partners Gilman Louie, Stewart Alsop, Jason Preston, Partners Tyler Peterson, Mike Morgan, Robert Patterson, DEFTA, George Hara, Martin Gedalin, Kevin Ober, Hone, Ben Bergman Organizations: Service, Business, Bloomberg Beta, Lightship, Sapphire Partners, BI, Sapphire Ventures, Venture Partners, Foundry Group, Sinai Ventures, Sinai Capital Partners, Capital, San, Louie Partners, Partners, Ventures Peninsula Ventures, LinkedIn Locations: Los Angeles, San Francisco, San Mateo , California, Seattle, Alto, bbergman@insider.com

As depressing as the outcomes often were, these tortuous paths of jurisprudence were often absurd. A closer look at the opinions helps illustrate how legal decision-making is often deeply entwined with the justices’ deeply held passions and religious beliefs, their occasionally tense relationships with their colleagues and their personality quirks. Here are a few mostly tin medals for the outstanding lowlights (and a few highlights) of the year. ImageMost compassionate opinion correcting a historical American injustice:Justice Neil Gorsuch’s concurring opinion in Haaland v. Brackeen upholding the Indian Child Welfare Act, a federal law intended to prevent the forcible adoption of Native American children by nonnative families. Only the assertion of federal power through the child welfare act ended most of these abuses.

Persons: ’, Neil Gorsuch’s, Justice Gorsuch Organizations: Indian Child Welfare Locations: Haaland

☆ Student-loan borrowers are about to find out if they'll get Biden's debt cancellation
▼ + stars: | 2023-06-29 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Supreme Court will decide on Biden's student-loan forgiveness plan on Friday. It's an issue justices highly scrutinized during oral arguments for the student-debt relief cases in February. Of course, past rulings are not a clear indicator of what the court will decide on student-loan forgiveness — and the issue remains highly controversial. Some Democratic lawmakers, meanwhile, have vowed to do whatever it takes to ensure student-loan borrowers can get relief — and the White House continues to maintain confidence in the legality of Biden's plan. We certainly hope the Supreme Court agrees, because we know all too well what the stakes are for millions of students."

Persons: Biden, —, Brown, It's, . Texas —, Amy Coney Barrett, Brett Kavanaugh, General, Olivia Dalton, we've Organizations: Service, . Nebraska, US Department of Education, Republican, Education Department, . Texas, GOP, Democratic, DOJ Locations: ., Missouri, United States

☆ Student-loan borrowers are less than 24 hours away from finding out if they'll get Biden's debt cancellation
▼ + stars: | 2023-06-29 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Supreme Court will decide on Biden's student-loan forgiveness plan on Friday. It's now up to the Supreme Court to decide if the loan forgiveness is legal, or if it cannot move forward. It's an issue justices highly scrutinized during oral arguments for the student-debt relief cases in February. Of course, past rulings are not a clear indicator of what the court will decide on student-loan forgiveness — and the issue remains highly controversial. We certainly hope the Supreme Court agrees, because we know all too well what the stakes are for millions of students."

☆ Opinion: The Supreme Court justices picked by Trump were bad. DeSantis would be much worse.
▼ + stars: | 2023-06-27 | by ( Opinion Duncan Hosie | ) edition.cnn.com time to read: +9 min

DeSantis has appointed far more extreme justices to the Florida Supreme Court than Trump did to the US Supreme Court. But DeSantis’ appointees to the Florida Supreme Court embrace the Thomas-Alito wing of the organization. DeSantis’ appointees, in contrast, have jumped at entrenching conservative electoral domination and curtailing Black political power. Imitating Thomas and Alito, DeSantis’ appointees have rushed into gratuitous political controversies, writing opinions heavy on theory and light on practicality. Thomas and Alito are in this vanguard, as are DeSantis’ appointees and some of Trump’s lower court appointees, with which DeSantis is aligned.

Persons: Duncan Hosie, Ron DeSantis, Donald Trump, Hugh Hewitt, DeSantis, Clarence, Thomas, Samuel, Alito, ” Duncan Hosie, –, Trump, Neil Gorsuch, Brett Kavanaugh, Amy Coney Barrett, George H.W, Bush, George W, Brackeen, Barrett, Kavanaugh, Gorsuch, decisis, – Thomas, Thomas ’, Wade, – Carlos Muñiz, John Couriel, Jamie Grosshans, Renatha Francis, Meredith Sasso, they’ve, Barrett aren’t, Roe, DeSantis playbook, DeSantis ’, Biden, Alito’s, Smith, He’s, ”, groupthink, It’s, Trump’s, haven’t Organizations: New York Times, Washington Post, Street, CNN, Florida Gov, Republican, Trump, Florida Supreme, Detroit, of Education, –, Oregon, Federalist Society, Covid, Employment, today’s, Federalist, Twitter Locations: Florida, Alabama, Black, City of Philadelphia, lockstep

☆ The fate of millions of student-loan borrowers is set to be decided this week
▼ + stars: | 2023-06-26 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The Supreme Court is set to decide on Biden's student-loan forgiveness plan this week. Recent rulings from the court could shed light on how it might handle the debt relief cases. The Supreme Court is now entering the last week of its term, and it's set to hand down all remaining decisions on pending cases. And recent rulings from the Supreme Court shed light on how justices are taking a stricter look at standing issues . Of course, it's unclear if the Supreme Court will handle the student-debt cancellation cases in the same manner.

Persons: —, Joe Biden's, Biden's, Brown, Biden, Amy Coney Barrett, Brett Kavanaugh, Barrett, Kavanaugh, they're, Alexandria Ocasio, Cortez Organizations: Service, US Department of Education, GOP, Liberal, Indian Child Welfare, . Texas, Texas, Department of Homeland Security, Education Department, Democratic, New York Rep Locations: . Nebraska, Brackeen , Texas, States, ., Texas, Alexandria, United States

☆ Why Biden's student-loan forgiveness plan might not be doomed after 2 new rulings from conservative Supreme Court justices
▼ + stars: | 2023-06-24 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

Two recent Supreme Court rulings have struck down cases due to a lack of states' standing to sue. In February, the Supreme Court heard oral arguments in the two lawsuits that paused the implementation of Biden's plan to cancel up to $20,000 in student debt for federal borrowers. And that's what the Supreme Court has done with two recent rulings. "In Justice Barrett's own words, the ruling for student debt relief should be 'open and shut' in favor of mostly low-income families burdened with the crushing weight of student debt." Student loan borrowers and advocates gather for the People's Rally To Cancel Student Debt During The Supreme Court Hearings On Student Debt Relief on February 28, 2023 in Washington, DC.

Persons: —, Joe Biden's, Brown, Biden, they'd, Amy Coney Barrett, Barrett, Brett Kavanaugh, Kavanaugh, Braxton Brewington, Barrett's, Countess, MOHELA, James Campbell Organizations: GOP, Service, US Department of Education, Republican, Indian Child Welfare, . Texas, Department of Homeland Security, Supreme, Relief, Getty, Nebraska who's Locations: . Nebraska, Texas, States, ., Louisiana, Washington ,, United States, scrutinizing, Missouri

☆ Conservative Justice Brett Kavanaugh rules states can't sue the government just over 'indirect' harm from a federal policy. One of the lawsuits blocking Biden's student-debt relief involves 6 states d
▼ + stars: | 2023-06-23 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Justice Brett Kavanaugh authored a new opinion that ruled two states didn't have standing to sue the government. It's the second case led by a conservative justice that scrutinizes a state's standing to sue. The Supreme Court ruled 8-1 that the states lack standing to bring the suit, with Justice Sam Alito as the lone dissent. "But in our system of dual federal and state sovereignty, federal policies frequently generate indirect effects on state revenues or state spending. Kavanaugh's opinion was, of course, only responding to the Texas case and there was no reference to the pending student-debt relief cases.

Persons: Brett Kavanaugh, didn't, —, Joe Biden's, Kavanaugh, Sam Alito, they'd, Brown, Biden, MOHELA, weren't, Ketanji Brown Jackson, Amy Coney Barrett, Barrett Organizations: GOP, Service, Conservative, . Texas, Department of Homeland Security, US Department of Education, . Nebraska, Republican, Indian Child Welfare Locations: States, ., Texas, Louisiana, United States

☆ The Supreme Court preserved the Indian Child Welfare Act, giving tribal families preference in Native American adoptions
▼ + stars: | 2023-06-15 | by ( Associated Press | ) www.businessinsider.com time to read: +6 min

The Supreme Court issued a decision Thursday preserving the Indian Child Welfare Act. The law aims to keep Native American kids in tribal families in foster care and adoption cases. This was the third time the Supreme Court has taken up a case on the IWCA. In the not-so-distant past, Native children were stolen from the arms of the people who loved them," Biden said in a statement. Matthew McGill, who represented the Brackeens at the Supreme Court, said he would press a racial discrimination claim in state court.

Persons: —, Amy Coney Barrett, Clarence Thomas, Samuel Alito, Alito, Chuck Hoskin, Charles Martin, Tehassi Hill, Guy Capoeman, Joe Biden, Biden, Chad, Jennifer Brackeen, Fort Worth , Texas —, Brett Kavanaugh, Kavanaugh, Matthew McGill, McGill Organizations: Indian Child Welfare, Service, WASHINGTON, Republican, Child Welfare, Cherokee Nation, Morongo, Mission, Oneida, Quinault Indian Nation, Democratic, Navajo, Supreme Locations: Quinault, Delaware, Alaska, Texas, Fort Worth , Texas, American, Navajo, Southwest, Cherokee, Sur Pueblo

The justices found that the plaintiffs - the Republican-governed state of Texas and three non-Native American families - lacked the necessary legal standing to bring their challenge. They also rejected challenges to the law, known as the Indian Child Welfare Act of 1978, on other grounds. Congress passed it to end a longstanding practice in the United States of removing many Native American children from their families and placing them with non-Native Americans. At the time of the law's passage, between 25% and 35% of all Native American children were removed in states with large Native American populations, according to court papers. Interior Department and federal officials by Texas and the three families who sought to adopt or foster Native American children.

Persons: Amy Coney Barrett, Clarence Thomas, Samuel Alito, Joe Biden, Biden, Jennifer, Chad Brackeen, Barrett, Brett Kavanaugh, Kavanaugh, Andrew Chung, Will Dunham Organizations: U.S, Supreme, Constitution's, Republican, Indian Child Welfare, Tribal Nations, Indian Child Welfare Association, National Congress of American, Child Welfare, U.S . Interior Department, Circuit, Thomson Locations: Texas, United States, Navajo, New Orleans, New York

☆ A major lawsuit challenging Biden's student-loan forgiveness might have just been undermined by a new ruling from conservative Justice Amy Coney Barrett
▼ + stars: | 2023-06-15 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

Justice Amy Comey Barrett may have signaled how the Supreme Court might rule on student-loan forgiveness. In a Thursday ruling, Barrett said Texas did not have standing to sue the federal government on behalf of its citizens. The Supreme Court majority opinion, authored by Barrett, ruled 7-2 that none of Texas' challenges had any merit, upholding the ICWA. He also noted that in addition to proving parens patriae standing, states must also prove they meet the basic requirements of constitutional standing. Still, the states may have a stronger case for standing in the student-debt case than Texas did.

Persons: Amy Comey Barrett, Barrett, Biden, —, Joe Biden's, Amy Coney Barrett, David Nahmias, Barrett —, MOHELA, James Campbell, Campbell, Nahmias Organizations: GOP, Service, Indian Child Welfare, Biden, ., UC Berkeley Center, Federal Government, Republican, MOHELA Locations: Texas, There's, . Nebraska, , Texas, State, Nebraska

☆ The Supreme Court’s Other Racial Preference Case
▼ + stars: | 2022-11-09 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Racial preferences will be at the Supreme Court again Wednesday, but the issue in Haaland v. Brackeen is adoption, not college admissions. Under federal law, when a Native American child is being placed into an adoptive home, priority goes to parents who are also Native American. That puts tribal interests above what’s best for the child, and it’s a constitutional violation to boot. Chad and Jennifer Brackeen , who aren’t Native American, have taken in two siblings identified as A.L.M. to live in another State hundreds of miles away with either a great-aunt or an unrelated Navajo couple, rather than with her brother A.L.M.”

Among the provisions being challenged is one that gives a preference to Native Americans seeking to foster or adopt Native American children, which those challenging the law say discriminates on the basis of race. The challengers are led by Chad and Jennifer Brackeen — a white evangelical Christian couple who sought to adopt a Native American boy — as well as the states of Texas, Indiana and Louisiana. Tribes have also warned that a ruling striking down provisions of the law on racial discrimination grounds would threaten centuries of law that treat Native American tribes as distinct entities. Both sides appealed to the Supreme Court after the New Orleans-based 5th U.S. The Supreme Court has been closely divided in two major recent cases on Native American issues.

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