Zebeth Media Solutions

Politics

VC investors and startup founders see hope in the red wave that wasn’t • ZebethMedia

Janna Meyrowitz Turner’s biggest concern going into the U.S. midterm elections was that more than half of American voters had an election denier on their ballot. She was quite nervous, alongside pundits and polls who expected a red wave, a conservative flush that would take hold of Congress, state legislatures, and city halls. That didn’t happen. Instead, many candidates backed by Donald Trump failed to garner voters. Pro-abortion, anti-slavery, and pro-marijuana proposals passed while a young and diverse crop of politicians were elected at federal, state, and local levels. The red scare was nipped. For now, at least. “By and large, these candidates lost and will continue to do so,” Turner, the founder of Synastry Capital and co-founder of the coalition VCs for Repro, told ZebethMedia. “Despite the deliberate barriers to keep Black, brown, young, and new Americans from voting, these folks turned out in record numbers, which means our government will start to better reflect our citizens.” All in all, Democrats fared better than expected and are predicted to maintain control of the Senate, while Republicans are favored to take hold of the House. ZebethMedia conducted a vibe check with investors and founders to gauge how they feel as results continue trickling in. Many were happy with the progress being made, while others spoke of the issues they aim to tackle next as calls increase for progressive investors to start speaking up. “Democracy was the real winner last night, which is the underpinning of everything.” Jana Meyrowitz Turner, investor, Synastry Capital Naturally, one issue on everyone’s mind was abortion. Voters in many states had to vote on abortion-related proposals since the overturn of Roe v. Wade left such decisions in the hands of states. Shortly before the midterm elections, more than 100 VC firms came together to create VCs for Repro, a coalition rallying investors to vote in favor of reproductive health and wield more of their sociocultural power for change. Ballot results show that VCs for Repro’s cries were part of a larger clamor to protect reproductive autonomy. Kentucky voted against amending its state constitution to say that there was no right to abortion; Vermont, Michigan, and California voted to make reproductive freedom a constitutional right. Turner noted that pundits and polls drastically underestimated how much Americans support abortion. If it wasn’t clear then, though, it is now.

More than 70 VC firms join VCs for Repro coalition to support reproductive rights • ZebethMedia

Seventy-five venture capital firms, including Bloomberg Beta, 776, and M13, are standing together to launch VCs for Repro, a coalition stating that criminalizing abortion is a violation of human rights that stifles innovation. Announced today, the group seeks to entice more financial leaders to support and vote in favor of reproductive rights come the midterm elections on November 8. “Criminalizing abortion violates human rights and is anti-innovation.This matters to the people investing in the future of our economy. Vote like it matters to you on November 8, 2022,” VCs for Repro’s statement read. The group was started by Backstage Capital general partner Christie Pitts, Synastry Capital president Janna Meyrowitz Turner, Amboy Street Ventures founding partner Carli Sapir, Coyote Ventures co-founder Jessica Karr, and VEST Her Ventures founder Erika Lucas. “There is the outdated pressure for VCs to have to toe the line … about where they stand on abortion.” Simmone Taitt, founder, Poppy Seed Health Speaking to ZebethMedia, Pitts and Turner said progressives within the investment community need to start better utilizing their economic and cultural prowess to shift and shape society. For a long time, people have been silent and afraid to speak up. Their hope is that changes today. “The venture community has a tremendous opportunity for socioeconomic impact,” Turner told ZebethMedia. “They determine which entrepreneurs and ideas get funded, which problems get to be tackled, and whose experience is centered in those business models. Our hope for the coalition is that it inspires those in positions of leadership to find their voice right now. And then to follow that with action.” Lucas added that there is little that determines a woman’s life and career trajectory more than whether she can prevent and plan pregnancies. She said that abortion restrictions hamper the nation’s talent mobility, diminish workforce participation, depress earning potential, and can even drive families into poverty. “I’m hopeful this movement puts pressure on business and civic leaders to see that restricting abortion access is not just a moral or social issue, is an economic issue,” she told ZebethMedia. Already, the reversal of Roe v. Wade is making waves throughout the startup and venture ecosystem.

business and solar energy