“You only had one job” might be funny when decorating a birthday cake goes wrong, but when we talk about executives not showing up to board meetings, the stakes are much higher.
“Disengaged or dysfunctional boards aren’t just bad for CEOs and LPs; they are bad for everyone,” writes Matt Blumberg, co-founder and CEO of Bolster, a realization that prompted him to revise meeting formats to include follow-up surveys and additional outreach.
“That’s a lot of moving pieces to manage, but I find that keeps the meeting fresh and smooth.”
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Many business owners view board meetings as hurdles to avoid or overcome, which is unfortunate. Well-running sessions are legitimate opportunities to discuss challenges and ask for help when needed.
Example: No one wants to read slides in a board meeting, so distribute material well in advance and ask your attendees to submit questions via email. A board meeting should be a work session, not a monologue.
To promote engagement and diversity, Blumberg recommends adding one independent director for each investor’s board seat and reserving a single seat for a founder or team member.
“There’s no question that running an effective board of directors, or acting as an effective director, takes serious time, energy and dedication,” he says. “But that’s no reason not to try it.”
Thank you very much for reading,
Editorial Manager, australiabusinessblog.com+
Today: Q&A with Silicon Valley immigration attorney Sophie Alcorn
I host a Twitter Space today at 10 a.m. PT/1 p.m. ET with immigration attorney and TC+ columnist Sophie Alcorn.
If you’re trying to navigate the US Byzantine immigration process — or if you know someone who is — join the conversation and bring your questions.
8 Investors Discuss What’s Next For Reproductive Health Startups In A Post-Roe World
Dominic-Madori Davis surveyed eight investors about the role venture capital could play in this new era when Americans no longer have the legal right to have an abortion.
The Supreme Court’s Dobbs decision had more ramifications than healthcare and personal privacy: Will capital and talent flee US states that restrict reproductive rights? Will investors support more startups expanding healthcare?
Given “the weak relationship between venture capital and ethics,” Dominic-Madori asked the group how they plan to exert influence — and how they prefer to be approached by entrepreneurs:
- Hessie Jones, Partner, MATR Ventures
- Lisa Calhoun, Gary Peat and William Leonard, Valor Ventures
- Mecca Tartt, Executive Director, Startup Runway
- Ed Zimmerman, Co-Founder, First Close Partners
- Theodora Lau, Founder, Unconventional Ventures
- McKeever Conwell, Founder, RareBreed Ventures
Pitch Deck Teardown: Party Round’s $7M, er, party round deck
In November 2021, Party Round, a startup looking to help automate seed-stage fundraising, used its own platform to raise $7 million.
The founders recently shared the unedited 10-slide pitch deck with us so TC+ members can see what worked:
- Value proposition
- Competitive Advantages
- “Why now?”
Dear Sophie: My EB-2 priority date is delayed by 2 years! What should I do?
In her latest column, Sophie Alcorn answered questions about green cards in the EB-1A category for extraordinary abilities and multinational managers, EB-2 NAV and with PERM, as well as EB-3 for professionals:
I was so close! My priority date for my EB-2 permanent residency application was only nine days from the date stated in the September 2022 Visa Bulletin, but now the date in the October 2022 Visa Bulletin has gone back more than two years!
I am a software engineer and wanted to get my green card before changing jobs but now I am rethinking my path. The only thing holding me back is that I’ve heard that employees are fined if they leave their employer before actually getting the green card.
What is your advice?
— Bumped by the Bulletin
I am currently on an L-1B and my employer has sponsored me for an EB-3 green card. I only have a year left on my L-1B, so my employer entered me into the H-1B lottery and I was selected!
Will I keep my EB-3 priority date if I switch to the H-1B?
— Engaged employee
I am an author and motivational speaker, and I am 60 years young. Can I apply for an EB-1A green card?
— Successful speaker
In Latin America, founders and investors are balancing prudence and optimism
If valuations are your yardstick, Latin America’s startup ecosystem has recently matured.
According to Julio Vasconcellos, managing partner at VC firm Atlantico, the region’s first unicorns appeared in the past five years.
In its third annual TC+ report, Vasconcellos compares LatAm’s recent gains in sectors such as telemedicine, grocery delivery and fintech with the US, where “market enthusiasts of the pandemic period … are forced to cut workforces as usage levels return to the pre-pandemic historical trendline.” .”
What the CHIPS and Science Act means for the future of the semiconductor industry
For more than two years, the global semiconductor supply chain has been stretched to its limits.
There is no single cause: extreme weather, COVID-19, a protracted US-China trade war, and the Russian invasion of Ukraine are just a few contributing factors, not to mention soaring demand for cryptocurrency mining.
The US accounts for just 12% of global semiconductor production, but the recent passing of the CHIPS and Science Act of 2022 will free up $52.7 billion in subsidies for domestic labor development, R&D and manufacturing.
“The CHIPS Act appears to be a green light for domestic manufacturing,” said Perforce Software’s Simon Butler.
“However, a presidential executive order issued earlier this year could pose a stumbling block for semiconductor design shops eager to serve national security projects.”