### Dan Abrams Ventures into New Media

Dan Abrams, renowned for his contributions to journalism, is **actively raising funds** for his latest venture in the media industry. This new startup aims to redefine how news is delivered and consumed in today's fast-paced digital landscape.

With a **strong background** in media and law, Abrams is well-poised to leverage his experience and insights to create a platform that resonates with a **modern audience**. The startup promises to focus on **transparency**, **accuracy**, and **engagement**, catering to the evolving needs of consumers.

### Fundraising Goals

Abrams is seeking to attract investors who share his vision for a **new type of media**. The funds raised will be crucial for developing the platform's technology and expanding its reach. Investors are encouraged to align with a project that not only aims for profitability but also seeks to make a **positive impact** in the media space.

### The Vision Ahead

As the media landscape continues to shift, Abrams’ startup could potentially play a pivotal role in shaping the future of journalism. With a commitment to **innovation** and **integrity**, this endeavor is one to watch as it unfolds in the coming months.

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Dan Abrams' Bold Move: Launching a New Media Startup and Fundraising Efforts

University endowments have long been the **bedrock** of **venture capital funding** in the United States, providing reliable and substantial capital to fuel **innovation** and **entrepreneurship**. However, a convergence of **regulatory**, **social**, and **economic pressures** is now threatening this critical relationship, with potentially far-reaching consequences for the venture capital industry as a whole.

## The Changing Landscape of Endowment Participation
Historically, university endowments have been among the most significant **limited partners (LPs)** for venture capital funds. Today, they still represent approximately **15-20%** of all venture capital dollars raised, with the lion's share coming from the **30 largest endowments**. This substantial financial commitment has helped drive **technological innovation** and **economic growth** for decades.

**Meghan Reynolds**, Head Capital Formation and Talent at **Altimeter**, notes, "For so long, university endowments have been a backbone of VC funds. There is real stress on this channel that I believe will have real impact on VC dollars raised in coming years."

## The Looming Threat of Endowment Taxation
Perhaps the most immediate concern for university endowments is the specter of significantly increased **taxation**. Current legislative proposals could dramatically **increase the endowment excise tax** from its current rate of **1%** to as high as **21%**. This represents a **fourteen-fold increase** in tax burden, a staggering prospect for institutions whose financial planning relies on long-term stability.

## The NIL Revolution in College Athletics
The introduction of **Name, Image, and Likeness (NIL)** rights for college athletes has created another unexpected pressure point for university endowments. This shift in college sports economics has significant implications for university finances, as they must maintain competitive athletic programs while fulfilling broader educational and research missions, often with fewer unrestricted donation dollars.

## Federal Funding Challenges: DOGE and DEI Impacts
Recent political tensions surrounding **Diversity, Equity, and Inclusion (DEI)** initiatives and **Department of Government Ethics (DOGE)** requirements have led to significant disruptions in federal research funding for universities, forcing endowments to divert capital to maintain essential research programs.

## Distribution Problems: Value Without Liquidity
Many university endowments have seen tremendous **paper gains** from their venture investments, but these gains often remain **illiquid** for extended periods. This lack of liquidity means that endowments face a timing mismatch: they have future value but current obligations to fund.

## The Implications for Venture Capital
The combined effect of these pressures could significantly impact venture capital fundraising in the coming years, with analysts predicting:
1. **Reduced commitment sizes**: Endowments may continue to participate in venture capital but with smaller amounts.
2. **More selective re-ups**: Endowments may become more selective about which managers they support.
3. **Higher hurdles for new relationships**: First-time fund managers may find it increasingly difficult to attract endowment dollars.
4. **Greater emphasis on liquidity terms**: Endowments may push for investment terms that provide earlier liquidity.

## Looking Ahead: An Evolving Partnership
Despite these challenges, the fundamental relationship between university endowments and venture capital remains valuable. Universities need the outsized returns that venture capital can provide, and venture firms benefit from the patient, sophisticated capital that endowments represent. Understanding these pressures and proactively addressing the needs of university endowments will be crucial for venture capital firms to maintain these important relationships.

As one veteran venture capitalist puts it: "The best funds will always find capital, but the definition of 'best' is evolving. It's about partnership and alignment with the real challenges your LPs are facing."

The coming years will undoubtedly see significant changes in how university endowments engage with venture capital, shaping the next era of **innovation financing** in the US and beyond.

The Changing Landscape of Endowment Participation Historically, university endowments have been among the most significant limited partners (LPs) for venture capital f...

How University Endowments are Shaping the Future of Venture Capital: The Challenges Ahead

### CaaStle's Financial Troubles
CaaStle, a startup founded in **2011** initially as a plus-sized clothing subscription service, has transitioned to an **inventory monetization platform** for clothing retailers. However, the company is currently grappling with significant **financial difficulties**. This troubling news was confirmed to **TechCrunch** following a report by **Axios**.

### Key Developments
In a letter from the board, it was disclosed that the company is nearly **out of funds**. CEO **Christine Hunsicker** has stepped down from both her CEO position and the board. Furthermore, law enforcement is now involved to investigate **alleged financial misconduct**.

The company has also announced that it has **furloughed all employees**. In a statement, they expressed, “The Board is deeply disappointed by the conduct that has led to this moment. Our immediate focus is on addressing the company’s challenges, supporting our employees, and preserving the value of our technology and business operations.”

### Financial Background
CaaStle has raised over **$530 million** in total funding, with its latest round bringing in **$43 million** in **2019**, according to estimates by **PitchBook**.

### Allegations Against Former CEO
The board has accused Hunsicker of misleading investors regarding the company’s **financial performance** and misrepresenting its capital and outstanding shares, including two purportedly **falsified audit opinions**. Reports indicate that just days before her resignation, Hunsicker was actively fundraising while asserting the company’s financial health.

### Broader Implications
Axios has indicated that if the board’s allegations are substantiated, it could lead to one of the largest cases of **fraud** in startup history. Comparatively, the recent case of **Charlie Javice**, founder of the student loan application startup **Frank**, who was found guilty of defrauding **JPMorgan** for **$175 million**, underscores the severity of such allegations, especially as CaaStle's investment figures are **three times larger**.

Industry experts warn that **2025** is poised to be another challenging year for failed startups, hinting at a broader trend in the startup ecosystem.

CaaStle, a startup that launched in 2011 as a plus-sized clothing subscription service and later became an inventory monetization platform for clothing

CaaStle Faces Financial Crisis: CEO Resigns Amid Allegations of Misconduct

### A Game-Changer for Tax Season

Accounting software company **Open Ledger** has launched a new product just in time for tax day: **PokéTax**. This innovative game makes tax filing enjoyable by turning it into a **Pokémon-style showdown**. Instead of filling out tedious tax forms, users battle against **Tax Trainers**—gym leaders who represent different sections of a tax form, such as income, deductions, and credits. Each trainer poses questions that help players complete their tax filings.

![PokéTax](https://techcrunch.com/wp-content/uploads/2025/04/OpenLedger-PokeTax.png)
*Image Credits: Open Ledger*

“Once you finish your PokéTax run, we guide you to the **IRS Direct File** site to officially submit,” said Open Ledger co-founder **Pryce Adade-Yebesi**. He emphasized that this is not an April Fool’s joke, stating, “This is real; it works. Tax fraud isn’t funny—and neither is the IRS.”

Adade-Yebesi and co-founder **Ashtyn Bell** launched Open Ledger earlier this year, raising **$3 million** in funding from **Kindred Ventures** and **Black Ventures**. The game, which is open-source, originated as a lighthearted concept: “Could we actually pull this off?” They clearly did.

The game features an **AI assistant** to help users organize their responses, and players can earn **badges** by discovering new deductions while battling the Tax Trainers.

![PokéTax Gameplay](https://techcrunch.com/wp-content/uploads/2025/04/22.png)
*Image Credits: Open Ledger*

Unlike other attempts to gamify tax filing, such as the **dating-style game Tax Heaven 3000**, PokéTax aims to make the process more engaging and less daunting. “Taxes are such an unloved part of being a good citizen,” Adade-Yebesi said, “but by adding fun to financial processes, we can make them more engaging and way less soul-sucking.”

**Taxes are due April 15.**

Accounting software company Open Ledger has launched a new product in time for tax day.  Meet PokéTax, a game that helps make tax filing quite fun.

Transforming Tax Season into a Fun Game: Discover PokéTax!

### A **Legal Showdown** in the AI Healthcare Sector

A **messy legal battle** is brewing in the market for AI that reviews health insurance claims. Palantir Technologies, valued at **$198 billion**, has filed a lawsuit against **Y Combinator-backed startup Guardian AI** and its founders—former employees of Palantir’s healthcare division. The suit alleges **brazen trade secret theft** in the U.S. District Court for the Southern District of New York.

![Palantir cofounder and CEO Alex Karp](https://specials-images.forbesimg.com/imageserve/67eb206926c51330532e012b/Palantir-cofounder-and-CEO-Alex-Karp/0x0.jpg?fit=scale)

Palantir claims that founders **Mayank Jain** and **Pranav Pillai**, who worked at the company from **2022 to 2024**, stole trade secrets to launch Guardian AI, aimed at assisting healthcare providers in fighting insurance claim denials. According to the lawsuit, Jain and Pillai sought to **commercialize Palantir’s projects for their own financial gain** while still employed.

> “Pillai and Jain took Palantir’s work and applied to a startup incubator to commercialize these projects for their own financial gain,” the suit states. 

This legal dispute is part of a larger trend as **health insurers increasingly leverage AI** to assess claims. Companies like Claimable and FightHealthInsurance.com are emerging to challenge insurance denials, highlighting the growing intersection of technology and healthcare.

### Palantir's Healthcare Division

Palantir is known for its defense work but has a significant healthcare division, which Jeremy David, Palantir’s co-head of healthcare, states accounts for about **15% of the company’s commercial business**. The division has developed AI-driven software to help healthcare providers manage insurance denials, aiming to reduce unpaid bills and administrative burdens.

The lawsuit asserts that Jain and Pillai secured **$500,000 from Y Combinator** and incorporated Guardian AI shortly after leaving Palantir. Within weeks of their resignation, they reportedly claimed to have saved clients over **$150,000** with their AI solution.

Palantir is seeking **treble damages** and attorney’s fees, alongside plans to initiate arbitration against Jain and Pillai to reclaim compensation. The company reported a **$2.9 billion revenue** in 2024, a **29% increase** from the previous year, and is expected to exceed **$3.7 billion for 2025**.

### Industry Implications

As the lawsuit unfolds, it underscores the competitive landscape in AI healthcare solutions, where companies are racing to leverage technology for better claims management amidst rising scrutiny over insurance practices. Palantir's healthcare division has seen a staggering **267% growth** from 2020 to mid-2022, indicating the potential for significant market disruption.

Neither Palantir nor its legal representatives have commented on the lawsuit as of yet.

Former Palantir employees Mayank Jain and Pranav Pillai started Guardian AI to help healthcare providers fight insurance claim denials. Now their former employer is suing them for allegedly stealing trade secrets.

Palantir Takes Legal Action Against Startup Guardian AI for Alleged Trade Secret Theft

### Bridging the Gap for Hispanic Immigrants

While pursuing their MBAs at **Harvard Business School**, Colombian immigrants **Stephanie Murra** and **Lorenza Vélez** observed a significant challenge faced by Hispanic workers: **finding jobs** in the U.S. due to language barriers. Many of these workers, primarily employed in cafeterias, struggled to secure positions because they often lacked English proficiency and were unfamiliar with the technology used in traditional job applications.

### The Birth of Ponte Labor

Recognizing the **labor shortage** in the U.S., particularly for low-skilled positions, Murra and Vélez founded **Ponte Labor** in April 2023. Their startup aims to connect **legally authorized Hispanic immigrants** with job opportunities in industries like **hospitality, construction, and retail**. They leverage **WhatsApp**, the preferred communication channel for many immigrants, to facilitate the hiring process.

### Innovative Hiring Platform

Ponte Labor's platform pre-vets, matches, and onboards workers more efficiently than traditional methods. Employers can hire candidates directly, saving costs and gaining access to a wider talent pool. This model not only benefits employers but also provides workers with access to job opportunities that might otherwise be out of reach. Each candidate is pre-vetted for **legal work authorization** before being presented to employers.

### Rapid Growth and Success

Since launching in November 2023, Ponte has onboarded over **60,000 candidates** and placed nearly **800 workers** in hospitality roles, achieving an annualized net revenue growth from **$70,000** to **$550,000**. The startup recently raised a **$3 million seed round**, boosting its valuation to **$15 million**.

### A Focus on Community

With over **95%** of its candidates being Hispanic immigrants, Ponte has built trust within the community by tailoring its approach to their specific needs. The founders aim to not only help these workers find jobs but also assist them in achieving their **professional goals**, including learning English to enhance their career growth.

### Looking Ahead

Ponte plans to expand beyond hospitality into other sectors such as **construction** and **elder care**. The founders envision creating tools that cater to diverse immigrant communities, ensuring that their platform remains **language-agnostic**. Their ultimate goal is to empower Hispanic immigrants in the U.S. to achieve their **professional aspirations** and break through barriers to advancement.

While working on their MBAs at Harvard Business School, Colombian immigrants Stephanie Murra and Lorenza Vélez noticed that most of the workers in the

Unlocking Opportunities: How Ponte Labor Connects Hispanic Immigrants to Jobs via WhatsApp

## From Nurse to Entrepreneur

Meet **Mike O’Dell**, a 50-year-old nurse anesthetist from Oklahoma City who has turned his **hobby of quilting** into a thriving business, **Legit Kits**, generating over **$1.4 million** in revenue last year.

### The Journey Begins
In **2018**, O’Dell started quilting by creating a Star Wars stormtrooper quilt for his sons. Using a technique called **foundation paper piecing**, he found the process surprisingly easy. This sparked an idea: to streamline the process and sell **quilting kits** featuring licensed images of nature, animals, and characters.

### The Birth of Legit Kits
By **2020**, Legit Kits was born. O’Dell's innovative business model allows beginners to create beautiful quilts with ease. Last year, his company reported sales of **over $1.25 million** through Shopify, with an additional **$150,000** from sales at Joann Fabrics and Crafts, despite the chain's bankruptcy announcement.

### Balancing Act
O’Dell manages to balance his role as **CEO and creative director** of Legit Kits while working four days a week as a nurse. He dedicates one day to his business and oversees a team of seven full-time staff and four freelance designers. His marketing efforts, including promoting on **social media** and participating in crafting groups, have even landed him a spot on **ABC’s Shark Tank**.

### The Financials
Despite impressive revenue, Legit Kits only broke even last year due to high costs, including a **$4,500 monthly rent** for a manufacturing space. O’Dell plans to pay himself **$50,000** this year, alongside his **$240,000** nursing salary. While he acknowledges the stress of juggling both roles, he finds the entrepreneurial journey rewarding.

### Beyond Profit
For O’Dell, Legit Kits is more than just a source of income; it’s a **labor of love** that provides fulfillment beyond his healthcare career. His story illustrates that it’s possible to turn a hobby into a lucrative side business, especially with the rise of online platforms like **Shopify**. His innovative approach not only preserves a traditional craft but also inspires others to explore entrepreneurship.

O’Dell’s commitment to his passion and resilience in the face of challenges make Legit Kits a noteworthy venture to follow. His journey serves as a testament to the fact that entrepreneurship involves creativity, dedication, and the pursuit of personal fulfillment, not just financial success.

Mike O’Dell is no ordinary nurse anesthetist. He’s also the innovator behind a lucrative side hustle that reeled…

How a Nurse Transformed His Quilting Passion into a $1.4 Million Business

### **Starfive Technology: A New Era in Chip Design**

Shanghai Starfive Technology is making waves in the semiconductor industry with its innovative chips based on **RISC-V**, an open-source architecture that breaks away from traditional Western designs like Intel’s x86 and Arm. This strategic move comes at a time when **China** is intensifying efforts to establish semiconductor self-sufficiency amidst escalating tensions with the **U.S.**.

### **A Unique Approach**
Unlike many startups that rush to market, Starfive, backed by Hong Kong billionaire **Peter Lee**, is adopting a **calculated strategy**. The company began by focusing on a niche product: a RISC-V chip for **smart gas meters**. This product aligns perfectly with Lee’s other ventures, as his company, Hong Kong & China Gas, has already purchased **4 million** chips since their launch in late 2022.

### **Expanding Horizons: Data Centers**
Starfive is now turning its attention to the booming **data center** sector, with plans to mass-produce a RISC-V chip for data center management later this year. They have secured a significant partnership with **Xfusion Digital Technologies**, a spinoff of tech giant **Huawei**.

![Peter Lee](https://specials-images.forbesimg.com/imageserve/67eb89f1b60a0f0e30597dd9/Peter-Lee/1960x0.jpg?fit=scale)
*Peter Lee, co-chairman of Henderson Land and founder of Full Vision Capital, speaks at a press conference announcing Starfive's partnership with Xfusion in Hong Kong on March 22, 2024.*

### **The RISC-V Advantage**
Starfive is one of the pioneering firms in **China's RISC-V chip** landscape, competing with renowned players like **Alibaba** and **Huawei**. The open-source nature of RISC-V allows China to reduce its dependency on Western technology, especially as the U.S. tightens access to advanced chips. The Chinese government is poised to promote RISC-V chips nationwide, ensuring a robust market for Starfive’s innovations.

### **Strong Backing and Future Prospects**
Founded in **2018**, Starfive has attracted significant investments from various entities, including **Baidu** and state-backed funds. Lee's foresight in establishing a RISC-V division in China has proven prescient, as the company continues to garner investor interest amidst a growing demand for alternative chip solutions.

### **Strategic Focus on Domain-Specific Applications**
Starfive aims to avoid the pitfalls of chasing trends like AI, choosing instead to focus on **domain-specific applications**. Their smart gas meter chips serve as a prime example of addressing immediate market needs. The company has also developed a **data center management chip**, designed for remote server control, set to be sold to Xfusion starting in early 2026.

As demand for **RISC-V** technology surges, Starfive remains committed to a careful and strategic expansion, ensuring that each product is developed with precision and purpose.

Shanghai Starfive Technology’s chips are based on RISC-V, which, unlike Intel’s x86 and Arm, is an open-source design that’s not controlled by a Western company.

Dan Abrams' Bold Move: Launching a New Media Startup and Fundraising Efforts

Summary:

Dan Abrams Ventures into New Media

Fundraising Goals

The Vision Ahead

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Other Latest News

How University Endowments are Shaping the Future of Venture Capital: The Challenges Ahead

CaaStle Faces Financial Crisis: CEO Resigns Amid Allegations of Misconduct

Transforming Tax Season into a Fun Game: Discover PokéTax!

Palantir Takes Legal Action Against Startup Guardian AI for Alleged Trade Secret Theft

Unlocking Opportunities: How Ponte Labor Connects Hispanic Immigrants to Jobs via WhatsApp

How a Nurse Transformed His Quilting Passion into a $1.4 Million Business

Unveiling Starfive: The Chinese Startup Revolutionizing Chip Technology Without Western Dependency

Other Latest News

How University Endowments are Shaping the Future of Venture Capital: The Challenges Ahead

CaaStle Faces Financial Crisis: CEO Resigns Amid Allegations of Misconduct

Transforming Tax Season into a Fun Game: Discover PokéTax!

Palantir Takes Legal Action Against Startup Guardian AI for Alleged Trade Secret Theft

Unlocking Opportunities: How Ponte Labor Connects Hispanic Immigrants to Jobs via WhatsApp

How a Nurse Transformed His Quilting Passion into a $1.4 Million Business

Unveiling Starfive: The Chinese Startup Revolutionizing Chip Technology Without Western Dependency