Facebook Vice President David Marcus is the face of the company's Libra digital currency, but the original driving force was a 26-year-old female corporate-development...Technologyread more
Amazon's new policy for account suspensions doesn't go far enough to protect sellers from potentially unfair and wrongful suspensions, merchants say.Technologyread more
There is no end in sight to the Boeing 737 Max grounding after two fatal crashes, prompting airlines to rethink their growth plans.Airlinesread more
After a year of flooding, Midwest farmers face a stifling heat wave that's spreading across the U.S.Weather & Natural Disastersread more
On Saturday, Disney's Marvel Studios announced its upcoming slate of superhero films during a panel at San Diego Comic-Con.Entertainmentread more
Moving lots of data to a public cloud over the internet can take months or years. CNBC got an inside look at how AWS transfers data to the cloud for its clients.Technologyread more
A quarter of the S&P 500 companies report earnings next week, and that could buffet the market as investors await the July Fed meeting.Market Insiderread more
Iran's Revolutionary Guard claims a British tanker it still holds, Stena Impero, failed to follow international maritime rules.World Newsread more
"It troubles me that the most important political office in the world is becoming the face of racism and exclusion," Kaeser said in a Twitter post.Politicsread more
Silver's rally could be losing its shine after the precious metal reached its year-to-date high, futures experts warn.Futures Nowread more
Some 40% of Americans would struggle to come up with even $400 to pay for an emergency expense. Just how are so many Americans so short on cash? Blame debt.Personal Financeread more
Andreessen Horowitz will soon cease to be a venture capital firm, veering away from the majority of its Sand Hill Road neighbors in Silicon Valley to instead become a registered investment advisor, or RIA.
The 10-year-old firm, founded by Marc Andreessen and Ben Horowitz, filed in March to become an RIA, as it seeks greater flexibility in its investments, particularly when it comes to cryptocurrencies, said Margit Wennmachers, an operating partner at the firm. Forbes first reported on the change.
Venture capital firms are limited in their ability to invest outside of the traditional start-up landscape, a market that's become inundated with record amounts of cash, thanks to massive funds like SoftBank's $100 billion Vision Fund. By becoming an RIA, Andreessen can put more money into areas like crypto, which often involves the purchase of tradeable coins as opposed to equity, and can more freely allow analysts in different areas to communicate with each other, rather than being walled off.
"As a firm, we have this massive ambition to be the best investor period, and want the flexibility to invest in what we think is the best investment," Wennmachers said.
Last year the firm raised its first crypto fund, with $300 million in capital committed. Wennmachers said that during the process of setting up that fund, Andreessen decided to register as an RIA. The change should become official this month, she said, after the 45-day processing period for the Securities and Exchange Commission.
As part of the shift, employees will have to go through background checks and register their investment holdings. They'll also be more restricted in what they can trade individually and how they talk about financial performance.
The firm will still be doing plenty of private company investing, and is in the process of raising a growth fund of $2 billion to $2.5 billion that's expected to close in the next few weeks, Forbes reported. Andreessen is close to seeing some of its biggest returns, with Slack, Pinterest and Airbnb all in the pipeline to go public. The firm owns a $1 billion stake in Lyft, after last week's IPO, and owns 18 percent of software company PagerDuty, which is set to debut soon.
Wennmachers said that Andreessen will continue to raise dedicated crypto funds as well as bio funds, which invest in companies focused on using biology and machine learning to develops wearables, diagnostics and therapeutics. The firm's main fund will continue to focus on consumer and enterprise technologies.
-CNBC's Ari Levy contributed to this report.