° Why it matters: The ruling is a blow to AT&T's attempt to show that the lawsuit to block the deal is politically motivated by President Trump's antipathy for CNN, which Time Warner owns. AT&T says it wasn't asked to offload any assets as part of the deal until after Trump took office.
° What they're saying: “We respect the judge’s decision and look forward to the upcoming trial,” said Dan Petrocelli, who is leading AT&T and Time Warner's defense in the case, in a statement.
° At a hearing on Friday, a Justice Department lawyer said that AT&T's argument for the documents "didn't make sense."
° Go deeper: Our report from the courtroom on Friday, when DOJ and AT&T presented their arguments.
Fund scoop: Niv Dror, who joined AngelList through its acquisition of Product Hunt in 2016, is raising a small early-stage fund focused on consumer products, multiple sources tell Axios. Dror declined to comment.
° The fund will raise at least $1 million, though one source says it could go up to $2-3 million.
° Like Product Hunt colleague Ryan Hoover’s own VC fund, Dror’s will be managed on the back-end by AngelList.
Same old story: Yesterday, I grabbed coffee with Day One Ventures founder Masha Drokova, and heard a familiar—and still disappointing—story: While raising her fund, she was told by prospective investors that she should get a male co-founder.
° She initially considered the suggestion, she told me, before remembering it's rooted in sexism.
Softbank $$$: Softbank’s Vision Fund is in early talks to raise additional funds from Bahrain’s sovereign wealth fund, Mumtalakat, the latter’s CEO told Reuters.
° The Persian Gulf has been a major source of funds for the Vision Fund: Public Investment Fund, Saudi Arabia’s main sovereign wealth fund, and Abu Dhabi’s Mubadala, are already investors.
° And it’s not the only one visiting the region’s investors—funds focused on tokens and cryptocurrencies have also been fundraising in the area, I’m told.
Unicorn stampede: We're not even two months into 2018 and yet, seven startups have already seen their private valuations cross the $1 billion mark—earning “unicorn” status—according to Pitchbook. Last year: 53. The word “overvalued” comes to mind...
a
The BFD
HOUSE_OVERSIGHT_021098