Skip to main content

The mass exodus at Social Capital continues

Something is going on at Social Capital.

A series of departures continued this morning at former Facebook executive Chamath Palihapitiya‘s venture capital firm, with Mike Ghaffary, a partner since August 2017, announcing he was moving on to focus on angel investing.

That’s just a day after Ashley Mayer, a partner and VP of marketing since 2015, said she was departing the firm to pursue “new adventures.”

The pair of exits is just the latest in a line of high-profile departures for the firm. We’ve reached out to Palihapitiya for some explanation.

The mass exodus began when Mamoon Hamid, who founded Social Capital with Palihapitiya in 2011, joined Kleiner Perkins as a general partner last August. At the time, Palihapitiya said it was “a great opportunity for Mamoon” and that the firm was “happy for him and Kleiner Perkins.”

Mamoon Hamid is heading from Social Capital to Kleiner Perkins

The string of exits continued in June, when partner Arjun Sethi left to launch his own firm, Tribe Capital, which is reportedly focused on cryptocurrency and blockchain startups. He was immediately followed out the door by growth equity chief Tony Bates and vice chairman Marc Mezvinsky.

Bates and Mezvinsky had only been with the firm about a year. 

Social Capital invests across several sectors, with a portfolio that includes Slack, Bustle and cryptocurrency trading business Digital Currency Group. The firm is known for favoring innovative investment strategies. Last fall, for example, it began investing in startups sight unseen through a new program called “capital-as-a-service.”



from TechCrunch https://ift.tt/2Pp0IVt
via IFTTT
Labels:

Comments

Post a Comment

Popular posts from this blog

The Silent Revolution of On-Device AI: Why the Cloud Is No Longer King

Introduction For years, artificial intelligence has meant one thing: the cloud. Whether you’re asking ChatGPT a question, editing a photo with AI tools, or getting recommendations on Netflix — those decisions happen on distant servers, not your device. But that’s changing. Thanks to major advances in silicon, model compression, and memory architecture, AI is quietly migrating from giant data centres to the palm of your hand. Your phone, your laptop, your smartwatch — all are becoming AI engines in their own right. It’s a shift that redefines not just how AI works, but who controls it, how private it is, and what it can do for you. This article explores the rise of on-device AI — how it works, why it matters, and why the cloud’s days as the centre of the AI universe might be numbered. What Is On-Device AI? On-device AI refers to machine learning models that run locally on your smartphone, tablet, laptop, or edge device — without needing constant access to the cloud. In practi...
1 comment
Read more

Apple’s AI Push: Everything We Know About Apple Intelligence So Far

Apple’s WWDC 2025 confirmed what many suspected: Apple is finally making a serious leap into artificial intelligence. Dubbed “Apple Intelligence,” the suite of AI-powered tools, enhancements, and integrations marks the company’s biggest software evolution in a decade. But unlike competitors racing to plug AI into everything, Apple is taking a slower, more deliberate approach — one rooted in privacy, on-device processing, and ecosystem synergy. If you’re wondering what Apple Intelligence actually is, how it works, and what it means for your iPhone, iPad, or Mac, you’re in the right place. This article breaks it all down.   What Is Apple Intelligence? Let’s get the terminology clear first. Apple Intelligence isn’t a product — it’s a platform. It’s not just a chatbot. It’s a system-wide integration of generative AI, machine learning, and personal context awareness, embedded across Apple’s OS platforms. Think of it as a foundational AI layer stitched into iOS 18, iPadOS 18, and m...
Post a Comment
Read more

Billionaire clothing dynasty heiress launches Everybody & Everyone to make fashion sustainable

Veronica Chou’s family has made its fortune at the forefront of the fast fashion business through investments in companies like Michael Kors and Tommy Hilfiger . But now, the heiress to an estimated $2.1 billion fortune is launching her own company, Everybody & Everyone , to prove that the fashion industry can be both environmentally sustainable and profitable. There’s no argument about the negative impacts of the fashion industry on the environment. The textiles industry primarily uses non-renewable resources — on the order of 98 million tons per year. That includes the oil to make synthetic fibers, fertilizers to grow cotton, and toxic chemicals to dye, treat, and produce the textiles used to make clothes. The greenhouse gas footprint from textiles production was roughly 1.2 billion tons of CO2 equivalent in 2015 — more than all international flights and maritime shipments combined (and a lot of those maritime shipments and international flights were hauling clothes). The lit...
Post a Comment
Read more