Evan Epstein
@evanepstein
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Exec. Dir & Professor @uclaw_sf / Focus: Corporate Governance / Host 🎙 https://t.co/jvYPiFzx4l / Newsletter ✍️ https://t.co/5W1npDK5hw #corpgov
San Francisco / Silicon Valley
Joined March 2008
In my latest Boardroom Governance Newsletter, I unpack the OpenAI restructuring saga, the Musk compensation package, and what these high stakes disputes reveal about corporate control and governance in the age of AI. 👉 Read here: https://t.co/ifHhbgalWR
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BREAKING: It's looking increasingly likely the U.S. will shutdown domestic airspace due to gov't shutdown. 40% chance. https://t.co/Bw0sxcIVjK
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It’s nearly 2026, and billions of people still have to wait for the US to wake up before they can trade the best financial markets. Trading hours and markets that close are outdated. Tokenized assets will be better for everyone, with instant settlement and 24/7 availability.
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Netflix founder Reed Hastings explains why “family” is a bad metaphor for your startup “The classic metaphor for companies was the family. You’d hire them and be like, ‘We’re a family. We look after each other.’ And that’s kind of baloney because you’ll lay someone off in a way
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At Coinbase, it's a fireable offense to create a new committee that has not been explicitly approved by Brian or myself. In the vast majority of cases, spreading authority across multiple people is inefficient. And once you’ve added an unnecessary layer of bureaucracy to
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Elon Musk CEO compensation approved by Tesla shareholders (75% approval rate)
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I would like to clarify a few things. First, the obvious one: we do not have or want government guarantees for OpenAI datacenters. We believe that governments should not pick winners or losers, and that taxpayers should not bail out companies that make bad business decisions or
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40% of startups die after a seed. 50% of the remainder die after a Series A. 60% of the remainder die after a Series B. 58% of the remainder die after a Series C. Roughly ~2.5% after the seed are acquired, so not “dead”. 0.5-1% go IPO. Startups are hard.
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Peter Thiel recounts the most important moment in the history of Facebook “The most important moment in the history of the company was in July of 2006 when Yahoo offered us a billion dollars. Zuckerberg was 22 at the time, and he owned a quarter of the company. It was just a
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Norway built its fortune on fossil fuels, then decided to lecture everyone else on ethics. Nothing like moral investing with other people’s oil money. / Norway pauses wealth fund's ethical divestments
reuters.com
Norway's parliament on Tuesday voted in favour of pausing ethical divestments by its $2.1 trillion sovereign wealth fund, the world's largest, while it updates the fund's ethical guidelines.
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Sequoia distributed over $50B while Roelof was the steward running Sequoia US since 2017 One of the first things @roelofbotha coached me on when I joined Sequoia was to look at each fund’s “write off rate” Any fund with a write off rate below 40% wasn’t taking enough risk
Is it too much to ask that @WSJ reporters who cover finance actually understand the asset classes they purport to report on? @roelofbotha and @sequoia are world class investors who have generated amazing returns for their LPs. VC is not a downside minimization asset class, but an
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Anthropic financials are out!💸 - Profitable by 2027 — 3 yrs ahead of OpenAI - $70B revenue / $17B profit projected for 2028 - Claude Code nearing $1B ARR Next raise could value it at $300B–$400B! (🧵)
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Americans bet over $148 billion on sports last year, which is more than they spent on movies, books, concerts and sports tickets - combined.
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How long to make $1 million in sales: Amazon: 43 seconds Walmart: 44 seconds Apple: 1 min, 9 sec Alphabet: 1 min, 9 sec Microsoft: 1 min, 31 sec Costco: 1 min, 46 sec Nvidia: 2 min, 9 sec Meta: 2 min, 17 sec Chevron: 2 min, 26 sec JPMorgan: 2 min, 32 sec Tesla: 4 min,
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2/ New SEC Chair Atkins: “make I.P.O.s great again.” His plan: 1) Cut down on required reports and disclosures, 2) Limit E&S shareholder proposals, and 3) Curb shareholder litigation. *This year ~180 U.S. companies have gone public through an IPO, compared with 150 last year.
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1/ Stay private or go public? “The number of U.S. public listings dropped from a peak of 8,090 in 1996 to 4,010 last year, per the World Bank. Fewer companies are filing for I.P.O.s, and more public companies are being taken private. https://t.co/vgSRSdwQpp
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OpenAI has now: 1. Signed $500 billion Stargate deal 2. Signed $100 billion Nvidia deal 3. Signed $100 billion AMD deal 4. Signed $38 billion Amazon deal 5. Signed $25 billion Intel deal 6. Signed $20 billion TSMC deal 7. Signed $13 billion Microsoft deal 8. Signed $10 Billion
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"Literally all of (robotics parts) will be made in China. None of it will be made in America." - @dylan522p "It's sad. China now makes more robots than Germany, South Korea, Japan, and the US combined." "Their robot production cost is way lower. Without massive industrial
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