Board Diversity Data; Fed Investment Ethics; The Homes of Holmes
Private venture- and private equity-backed companies have a homogeneity problem: Black directors have consistently held only 1 percent of board seats at these companies, and Latinx directors have held even less. Gabrielle Sulzberger of Two Sigma and Ursula Burns, former Xerox CEO, founded the Board Diversity Action Alliance, and they have data to prove that now is the time to make a change. CNBC’s Steve Liesman reports on Dallas Fed President Robert Kaplan’s portfolio holdings after Kaplan made multiple million-dollar-plus stock trades in 2020. Coinbase had planned to release an interest-earning product in the coming weeks, but the SEC might take legal action against it. A jury of seven men and five women has been chosen to determine the fate of Theranos founder Elizabeth Holmes. Holmes faces a dozen counts of wire fraud and conspiracy in connection with defrauding investors and patients, but she’s waiting for trial in the Silicon Valley suburbs. Plus, Apple sent out invitations to the media for its annual September event, where the company is expected to launch new iPhones. In this episode: Steve Liesman, @steveliesman Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin