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Expand chart
Icons by Gan Khoon Lay via the Noun Project; Chart: Lazaro Gamio/Axios

Venture capital is still very much a boys' club, according to a new Axios analysis.

By the numbers: Only 9.65% of decision-makers at U.S. venture capital firms are women. The breakdown was 105 female decision-makers out of an industry total of 1,088. That's up from 8.93% in a similar analysis last year, and 7% in 2017. The 2016 mark was 5.7%.

  • We defined "decision-makers" as the top level of a firm's investment management, and we excluded administrative positions like CFOs and heads of investor relations. In other words, people with checkbooks.
  • As in the past, we only included firms that had raised at least one fund of $100 million over the past 5 years (in this case, 2014–2018). That means the sample changes slightly each time. This year it included 284 firms. We also exclude corporate VC funds, since it's often unclear who makes final decisions.

Yes, progress is still very slow, even in a year that saw brand-name firms like Andreessen Horowitz, Benchmark, Redpoint Ventures and Union Square Ventures add their first-ever female general partners.

  • VC partnerships simply don't turn over too often, regardless of gender. But, that said, only 19% of the "added" decision-maker spots last year went to women.
  • Firms are clearly concerned about the optics, with more and more obfuscating job titles on their websites — including several who position junior-level women (including EAs) above the male general partners on their team pages.

The bottom line: Do better.

Go deeper: Tech's diversity crisis: 40% of VCs went to Harvard or Stanford

Go deeper

Updated 16 mins ago - Sports

Olympics dashboard

Team USA's Simone Biles watching the women's uneven bars final at the Olympic Games in Tokyo, Japan, on Sunday. Photo: Jamie Squire/Getty Images

🚨: Simone Biles will compete in her final Olympic event

🪧: Raven Saunders says U.S. athletes planned "X" protests "for weeks"

🏅Norwegian gold medalist, U.S. silver medalist smash 400m hurdles world record

🏋️‍♀️: Transgender weightlifter Laurel Hubbard: "It gets better"

🤸: U.S. gymnast Jade Carey wins Olympic gold in floor exercise final

⚽: U.S. women's soccer team falls to Canada in semifinals, ending chances at gold

🏳️‍⚧️: Axios at the Olympics: Games grapple with trans athletesTrans athletes see the Tokyo Games as a watershed moment

Go deeper: Full Axios coverage

Raven Saunders: U.S. athletes planned "X" protests "for weeks"

Team USA's Raven Saunders makes an "X'" gesture during the medal ceremony for the Women's Shot Put at the Olympic Games in Tokyo, Japan, on Sunday. Photo: Ryan Pierse/Getty Images

Raven Saunders, the American Olympian facing a possible investigation for making a protest gesture on the podium over the weekend, told the New York Times Monday that U.S. athletes had planned "for weeks" to demonstrate against oppression.

Why it matters: Protests are banned at the Tokyo Games. Saunders told the NYT a group of American Olympians had settled on the "X" symbol, which she gestured on the podium after winning silver in the shot put Sunday, to represent "unity with oppressed people."

Study: Social media giants failing to remove most antisemitic posts

Facebook CEO Mark Zuckerberg speaking virtually during a March House Energy and Commerce Subcommittees hearing on a laptop computer in Tiskilwa, Illinois. Photo: Daniel Acker/Bloomberg via Getty Images

Five social media giants failed to remove 84% of antisemitic posts in May and June — and Facebook performed the worst despite announcing new rules to tackle the problem, a new report finds.

Driving the news: The Center for Countering Digital Hatred (CCDH) notes in its study that it reported 714 posts containing "anti-Jewish hatred" to Facebook, Twitter, Instagram, Youtube and TikTok — which were collectively viewed 7.3 million times. These "clearly violated" company policies, according to the CCDH.

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