Good morning, Broadsheet readers! ServiceNow‘s CFO brings her company into the Fortune 500, the Trudeaus announce their separation, and Katie Haun weathered a yearlong crypto storm. Have a wonderful Wednesday!
– Year one. In January 2022, Katie Haun was on the cover of Fortune. The venture capitalist had just revealed her plans to leave Andreessen Horowitz and launch her crypto fund Haun Ventures, which became the largest debut fund ever raised by a solo female VC.
But shortly after Haun’s triumphant $1.5 billion moment, the market turned. Crypto—once the hottest sector for Silicon Valley investors—was suddenly, to some, a liability.
In a new Fortune piece, reporters Leo Schwartz and Anne Sraders outline how Haun has navigated such troubled waters. Like many founders and VCs, she honed in on a message: downturns are when the real builders get to work. But the crypto slump has been less of a temporary dip, and more of a market correction defined by historic frauds and collapses. Leo and Anne compare launching a new crypto fund in early 2022 to “starting a new movie theater chain right before the pandemic.”
While Haun successfully raised her fund, many investment opportunities dried up and she had to rethink her deployment schedule. Some investors who were once infatuated with Web3 have shifted focus to A.I., but Haun has continued to back promising startups in the category, like the NFT platform Zora and the blockchain network Aleo.
In this feature, Haun’s colleagues, friends, and LPs share their view of the firm’s performance so far.
It’s too early to determine the success of the firm’s bets, most say. Much of Haun’s attention, while dealmaking is slow, has been on crypto advocacy with lawmakers. The former prosecutor shifted to a behind-closed-doors strategy as the general public’s view of the industry plummeted.
Read the full Fortune story here.
Emma Hinchliffe
emma.hinchliffe@fortune.com
@_emmahinchliffe
The Broadsheet is Fortune’s newsletter for and about the world’s most powerful women. Today’s edition was curated by Joseph Abrams. Subscribe here.
ALSO IN THE HEADLINES
- At your service. Software company ServiceNow made its Fortune 500 debut this year at No. 499, in part, by providing software services to other Fortune 500 companies like Walmart, CVS Health, and AT&T. ServiceNow CFO Gina Mastantuono spoke with Fortune about the company’s success and its pledge to not lay anyone off this year. Fortune
- Parting ways. Sophie Gregoire Trudeau announced in an Instagram post yesterday that she and her husband, Canadian Prime Minister Justin Trudeau, are separating. The couple were married for 18 years and have three children together. Reuters
- A.I. to save lives. A.I. could be a game changer in detecting breast cancer during mammograms, according to a new study out of Sweden. The interim results found that, with the help of A.I., one or two radiologists could detect 20% more cancers than without it. Politico
MOVERS AND SHAKERS: Molly Eagan has been appointed as chief program officer of the Foundling. Catherine Powell, global head of hosting at Airbnb, joined the board of the nonprofit Airbnb.org.
IN CASE YOU MISSED IT
- Singing a new tune. Performing a song that promotes violence against women in Chihuahua, Mexico can cost artists up to $74,000 after Chihuahua’s city council unanimously passed a new law enforcing the fine. “We can’t allow this, and we also can’t allow this to be normalized,” said Marco Bonilla, mayor of Chihuahua, a city where 70% of emergency calls relate to domestic violence. CNN
- Snook on Shiv. Sarah Snook is finally dishing on her legendary run as Shiv Roy in HBO’s Succession and the show's emotional final season. Snook, who was pregnant while filming the final season, translated herself into the role that has earned her three Emmy nominations. Variety
- Been here before. U.S. District Judge Tanya Chutkan will oversee former President Donald Trump's upcoming trial over charges related to the Jan. 6 riot. Chutkan is well-versed in the subject. The Obama-nominated judge has issued several prison sentences to rioters that stormed the Capitol and rejected a Trump request in 2021 to stop documents from being sent to the Jan. 6 committee. Fortune
ON MY RADAR
Iranian businesses under pressure to enforce hijab rules Financial Times
The face of Israel’s protests is a particle physicist New York Times
The fans who won’t leave Britney alone Vulture
PARTING WORDS
"When you look at these celebrities and people in the industry, know that it is their job.”
—Actress Keke Palmer on Hollywood's unrealistic beauty standards
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