Private Equity 24-Hour Briefing

Last updated: June 6, 2026, 2:34 PM ET

Private Equity

Reid Hoffman stepped down from Microsoft’s board techcrunch.com after a decade of governance, redirecting capital toward his AI‑driven drug‑discovery venture Manus. The move signals a broader trend of high‑profile founders reallocating resources to early‑stage biotech, a sector attracting $10bn+ in venture capital this year. Concurrently, a viral thread on X has exposed VC horror stories, with founders openly naming firms that mismanaged funds or pressured exits. The backlash has prompted several investors to revisit due‑diligence protocols and reconsider engagement terms with portfolio companies.