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Venture capital is still a boys club

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

Over 91% of decision-makers at U.S. venture capital firms are men, according to a new Axios analysis.

The upside: The nearly 9% mark for women is an increase from 7% at this time in 2017 and from 5.7% in 2016.

The downside: It's still single-digit territory, despite a year of heavy emphasis on the venture industry's gender imbalance.

The methodology: PitchBook provided a list of all U.S.-based VC firms that had raised at least one fund of at least $100 million between 2013 and 2017. We then examined the firms' websites to determine the decision-making level of investment management, sometimes using supplemental information like SEC filings. We excluded administrative staffers (COO, CFO, IR, marketing, etc.). In short, we were looking for people who can write checks.

Specific numbers: We found 91 of 1,015 decision-makers at 232 U.S.-based VC firms were were women, compared to 72 out of 1,019 last year at 227 firms. Remember that the sample changes a bit, due to a different 5-year fundraising period.

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Why Trump added a streetfighter to his legal team

Screenshot via Fox News

A new addition to President Trump's legal team — Joe diGenova, a former U.S. attorney who is well-known in Washington and has argued for the president on Fox News — reflects three White House realities.

The state of play: (1) The White House is digging in for a fight that looks to be longer and messier than officials had expected. (2) This is another example of the president responding to televised cues. Trump has spent most of his adult life in litigation, and obsesses about legal positioning in the same way that he is consumed by his press coverage. (3) It's another pugilistic voice at the table, and suggests that this weekend's attacks on Mueller won't be the last.

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Facebook reaches a tipping point

Illustration: Rebecca Zisser/Axios 

Of all the news crises Facebook has faced during the past year, the Cambridge Analytica scandal is playing out to be the worst and most damaging.

Why it matters: It's not that the reports reveal anything particularly new about how Facebook's back end works — developers have understood the vulnerabilities of Facebook's interface for years. But stakeholders crucial to the company's success — as well as the public seem less willing to listen to its side of the story this time around.