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Matt Cohler

discrimination

Venture capital remains dominated by white men

Shall we all pretend to be shocked by a new study that shows that the venture-capital industry is overwhelmingly — no, disgustingly white and male? A National Venture Capital Association survey found that 88 percent of general partners — the people who can actually greenlight an investment at a firm — are white, and 86 percent are male. On the VC blog Private Equity Hub, Alex Haislip takes hope, noting that the junior ranks of VC firms are more diverse — and that some less lily-white firms have delivered good returns lately. Greed and the relentless herd-following instinct should take care of the industry's inequities, he seems to argue. Good luck with that! More »

exits

Matt Cohler, another member of Mark Zuckerberg's braintrust, leaves Facebook

Facebook's vice president of product management, is reportedly leaving the company to join Benchmark Capital. Two possible interpretations leap to mind: Sheryl Sandberg, the Facebook COO recently hired away from Google, is pushing out, one by one, the executives closest to Zuckerberg, leaving him increasingly isolated. Or Zuckerberg, loathe to give up control over Facebook as a product, is doing it himself. Update: Cohler is joining the VC firm as a general partner, not an entrepreneur-in-residence, as we'd first reported — a considerably more prestigious role, where he'll be investing money in startups himself, rather than waiting to get funded. He'll stay tied to Facebook a "special advisor" to Zuckerberg — which suggests that any falling-out was not with the Facebook CEO. Cohler, for his part, tells Swisher he got along well with Sandberg, and helped recruit her to the firm.

live coverage

Mark Zuckerberg SXSW keynote

AUSTIN, TX — 1:53 p.m. Central Time: Facebook PR director Brandee Barker gave me this exclusive scoop: CEO Mark Zuckerberg, who's due to take the stage for his SXSW Interactive keynote in minutes, is not wearing his famous Adidas flip-flops. In other news, Julia Allison just chewed me out and then gave me a granola bar. Daft Punk is playing on the sound system.

2:05 p.m.: Zuckerberg and BusinessWeek columnist Sarah Lacy, who's interviewing him, have taken the stage. More »

facebook

Mark Zuckerberg demotes his No. 2 exec

Founders never share power willingly, gracefully, or for very long. That's a lesson that Facebook's Owen Van Natta should have learned at the knee of Jeff Bezos, when Van Natta was an executive at Amazon.com. Instead, though, he's been schooled in it by Facebook CEO Mark Zuckerberg, who just demoted Van Natta from COO to chief revenue officer and VP of operations, Kara Swisher reports on AllThingsD. Zuckerberg's former No. 2, once trusted to attend the Sun Valley media-mogul conference in his stead, now shares key duties with a host of other executives. Here's a rundown on Van Natta's new rivals. More »