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Wed Mar 13, 2019, 07:48 AM

College bribery parent arrested is CEO of The Rise Fund, a social impact fund co-founded with Bono

One of Silicon Valley’s most prominent private equity investors — and one of the tech sector’s leading proponents of how to invest ethically and for social impact — has been charged in an explosive college admissions scandal that was revealed Tuesday, March 12.

Prosecutors charged Bill McGlashan, a founder and managing partner at TPG Growth — which has made landmark investments in companies like Uber and Airbnb — on fraud allegations for trying to engineer the admission of his son to the University of Southern California.

What is particularly damaging for TPG is that McGlashan has positioned himself as a leading voice in Silicon Valley for social responsibility. In addition to overseeing TPG’s late-stage growth investing arm, McGlashan has partnered with other conscious leaders like Bono and Laurene Powell Jobs at The Rise Fund, a TPG investing arm that tries to make the world a better place through investments in things like dairy farms in India.

TPG said Tuesday that it had placed McGlashan on “indefinite administrative leave effective immediately” and that his roles at TPG Growth and The Rise Fund would be filled for now by Jim Coulter, TPG’s co-CEO. That’s a major shake-up at one of the most influential investing firms in Silicon Valley.

Read More:
https://www.recode.net/2019/3/12/18262003/bill-mcglashan-college-admissions-scandal-tpg-stanford-usc-yale
https://www.cnn.com/2019/03/12/business/bill-mcglashan-tpg-college-admissions-scheme/index.html

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Reply College bribery parent arrested is CEO of The Rise Fund, a social impact fund co-founded with Bono (Original post)
FM123 Wednesday OP
Sherman A1 Wednesday #1
dlk Wednesday #2
3Hotdogs Wednesday #3
Kitchari Wednesday #4

Response to FM123 (Original post)

Wed Mar 13, 2019, 07:51 AM

1. I am sure that The Rise Fund

will get along very well without him.

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Response to FM123 (Original post)

Wed Mar 13, 2019, 08:02 AM

2. This Bribery Scandal Shows How Futile it is to Expect

the elite to make more than token efforts at equality and actually leveling the playing field. This is why we need strong government and comprehensive legislation, along with vigorous enforcement. As it’s been said, the elite are fine with being asked to do more good. Just don’t ask them to do less harm. “Social responsibility” plays well in the media.

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Response to dlk (Reply #2)

Wed Mar 13, 2019, 08:06 AM

3. I'm sure Rushbo and others will 'splain for you how more legislation leads to more regulation and

more regulation would keep our country from being great, again.

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Response to FM123 (Original post)

Wed Mar 13, 2019, 10:30 AM

4. the targets of this sweep are all big Democratic donors

From the Washington Free Beacon, which is a right-biased publication, according to mediabiasfactcheck.com (thus I will not link to it, but it's the only report I could find that supported my hunch):

"Of the 50 people charged in the college scandal, the Washington Free Beacon found only one gave consistently to Republican candidates. Mossimo G. Giannulli, founder of the clothing company Mossimo, Inc., is married to actress Lori Loughlin. He and his wife gave over $500,000 to secure admission to USC for his two daughters via the crew team. Neither daughter rows. He supported Sen. Marco Rubio (R., Fla.) in 2016, and Romney and John Boehner before that. He has also donated to Democrats."

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