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Attendees look on at Google's I/O developer conference. Photo: Justin Sullivan/Getty Images

"Silicon Valley financiers are losing leverage to star entrepreneurs ... Founders of highflying startups are increasingly wresting control of their companies from venture-capital backers and extracting huge pay packages tied to going public," The Wall Street Journal's Rolfe Winkler and Maureen Farrell write (subscription).

Why it matters: "VCs say empowering founders — through special voting shares, governance rights and other tools — frees them to follow ambitious long-term strategies once their companies go public without having to worry that poor performance will bring pressure from activist investors."

  • The state of play: "Venture capitalists had long called the shots in startup boardrooms and continue to be the primary backers of private companies. But in recent years, they have had to compete against new classes of investors including mutual funds, sovereign-wealth funds and now Japan’s SoftBank Group Corp., which has a $92 billion fund investing in startups."
  • The data: "Last year, 67% of U.S. venture-backed tech companies that staged IPOs had supervoting shares for insiders ... The proportion of nontech U.S. venture-backed IPOs with supervoting shares stood at 10% to 15% every year ... 72% of founders of U.S. tech startups valued over $1 billion that had IPOs over the past 24 months have supervoting shares."

Go deeper

Rep. Rice demands Cuomo resign after third woman accuses him of misconduct

New York Gov. Andrew Cuomo during a February news conference in New York City. Photo: Seth Wenig/POOL/AFP via Getty Images

Rep. Kathleen Rice (D-N.Y.) on Monday evening called for New York Gov. Andrew Cuomo (D) to resign, after a third woman accused him of inappropriate behavior.

Driving the news: Anna Ruch told the New York Times Monday that Cuomo asked to kiss her at a New York City wedding reception in September 2019.

Scoop: Inside the GOP's plan to retake the House

House Minority Leader Kevin McCarthy. Photo: Elijah Nouvelage/Bloomberg via Getty Images

House Republicans will reclaim their majority in 2022 by offering candidates who are women, minorities or veterans, a memo obtained by Axios says.

Why it matters: The document, drafted by a super PAC blessed by House Minority Leader Kevin McCarthy, names top Democrats to target — Jared Golden of Maine, Matt Cartwright of Pennsylvania and Ron Kind of Wisconsin — and the type of Republican candidates to beat them.

Scoop: Trump talked out of early Ohio endorsement

Jane Timken at a 2017 Trump rally. Photo: Kyle Mazza/NurPhoto via Getty Images

Donald Trump had to be talked out of making an early endorsement in Ohio's 2022 U.S. Senate race, a sign of his eagerness to reengage politically, people familiar with the conversations tell Axios.

What we're hearing: The former president discussed endorsing former state GOP chair Jane Timken last week during a meeting at Mar-a-Lago with RNC Chairwoman Ronna McDaniel, but top advisers — including Donald Trump Jr. — urged him to wait.