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Harvard University's campus. Photo: Brooks Kraft/Corbis via Getty Images

It is no secret that venture capital is homogeneous when it comes to gender and race. But now there's new data on the industry's lack of diversity, including a previously-unstudied metric: educational background.

The big picture: It comes via Richard Kerby, one of Silicon Valley's few black VCs, who first analyzed venture's racial breakdown in 2016. Kerby also found that, among his sample of around 1,500 VCs, a whopping 40% went to either Harvard or Stanford.

By the numbers:

  • He finds that the percentage of white VCs has fallen from 74% to 70%.
  • Asian representation climbed from 23% to 26%.
  • Black representation up slightly from 2% to 3% (black females created the difference, as they were at 0% last time around).
  • Hispanics remain stuck at just 1%.
  • Women still only make up 18% of VC professionals, up from 11%.

As for why it matters, I'm going to let Kerby take it from here:

"The bar to create a more diverse industry is difficult when one looks for folks that most resemble themselves; and while talent is evenly distributed, unfortunately, opportunity is not. When you couple the lack of gender and racial diversity with the lack of educational institution diversity, you not only end up with teams that look similar, but you also end up with teams that think in a similar fashion. Not only is our industry lacking in gender and racial balance, but we also suffer from a lack of cognitive diversity. This insularity of the venture ecosystem has ripple effects throughout the tech industry.... If we want to have more successes in the venture and broader tech ecosystems, diversity in all fashions (racial, gender, cognitive) needs to be a part of what drives us forward."

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NRA files for bankruptcy, says it will reincorporate in Texas

Wayne LaPierre of the National Rifle Association (NRA) speaks during CPAC in 2016. Photo: Saul Loeb/AFP via Getty Images

The National Rifle Association said Friday it has filed for voluntary bankruptcy as part of a restructuring plan.

Driving the news: The gun rights group said it would reincorporate in Texas, calling New York, where it is currently registered, a "toxic political environment." Last year, New York Attorney General Letitia James filed a lawsuit to dissolve the NRA, alleging the group committed fraud by diverting roughly $64 million in charitable donations over three years to support reckless spending by its executives.

26 mins ago - Politics & Policy

Biden: "We will manage the hell out of" vaccine distribution

Joe Biden. Photo: Chip Somodevilla / Getty Images

President-elect Joe Biden promised to invoke the Defense Production Act to increase vaccine manufacturing, as he outlined a five-point plan to administer 100 million COVID-19 vaccinations in the first months of his presidency.

Why it matters: With the Center for Disease Control and Prevention warning of a more contagious variant of the coronavirus, Biden is trying to establish how he’ll approach the pandemic differently than President Trump.

A new Washington

Photo: Stefani Reynolds/Getty Image

D.C. Mayor Muriel Bowser said Friday that the city should expect a "new normal" for security — even after President-elect Biden's inauguration.

The state of play: Inaugurations are usually a point of celebration in D.C., but over 20,000 troops are now patrolling Washington streets in an unprecedented preparation for Biden's swearing-in on Jan. 20.