In the five years since “Hillbilly Elegy,” a lot has changed for JD Vance.
He is now running for Senate as a savior of the Rust Belt. But Insiders and experts say that reputation is unearned. 👇
businessinsider.com/jd-vance-ventu…
He is now running for Senate as a savior of the Rust Belt. But Insiders and experts say that reputation is unearned. 👇
businessinsider.com/jd-vance-ventu…
Aside from running in one of the nation’s highest profile Senate primaries, central to his story are two things he boasted about not being: a successful businessman and a nonprofit founder.
businessinsider.com/jd-vance-ventu…
businessinsider.com/jd-vance-ventu…
After moving back to Ohio in 2017, Vance founded Our Ohio Renewal, a nonprofit dedicated to fighting the opioid epidemic.
He’s also raised $93 million to launch Narya Capital, a venture-capital firm focused on startups in the Midwest.
businessinsider.com/jd-vance-ventu…
He’s also raised $93 million to launch Narya Capital, a venture-capital firm focused on startups in the Midwest.
businessinsider.com/jd-vance-ventu…
But it’s not clear what Vance has achieved through his company or charity.
Their tax filings showed that in its first year, it spent more on “management services” by its executive director than on the programs to fight opioid abuse.
businessinsider.com/jd-vance-ventu…
Their tax filings showed that in its first year, it spent more on “management services” by its executive director than on the programs to fight opioid abuse.
businessinsider.com/jd-vance-ventu…
Meanwhile, the future of Vance’s company could be threatened by his decision to run for the Senate.
Earlier this summer, only a year after launching Narya, Vance took a leave of absence from the firm to pursue his political ambitions.
businessinsider.com/jd-vance-ventu…
Earlier this summer, only a year after launching Narya, Vance took a leave of absence from the firm to pursue his political ambitions.
businessinsider.com/jd-vance-ventu…
Under the provisions of what are known as “key man clauses,” VC funds like Narya are sometimes forced to stop making investments, or even shut down, after a critical executive like Vance steps away from the firm.
businessinsider.com/jd-vance-ventu…
businessinsider.com/jd-vance-ventu…
Vance handed out millions in seed money to 9 startups in Ohio and 6 other states.
He’s yet to file his personal disclosure form with the Senate clerk’s office, so voters won’t know about any conflicts of interest he might face as an elected official.
businessinsider.com/jd-vance-ventu…
He’s yet to file his personal disclosure form with the Senate clerk’s office, so voters won’t know about any conflicts of interest he might face as an elected official.
businessinsider.com/jd-vance-ventu…
Experts on venture capital expressed concerns about Vance’s potential conflicts, given his investments in everything from agriculture to defense.
businessinsider.com/jd-vance-ventu…
businessinsider.com/jd-vance-ventu…
Our Ohio Renewal’s biggest problem wasn’t its spending; it was its lack of fundraising.
It raised so little in each of the last three years — less than $50,000 a year — that it wasn’t even required by the IRS to disclose its activities and finances.
businessinsider.com/jd-vance-ventu…
It raised so little in each of the last three years — less than $50,000 a year — that it wasn’t even required by the IRS to disclose its activities and finances.
businessinsider.com/jd-vance-ventu…
Whatever Our Ohio Renewal did to fight the opioid epidemic, it did so without joining the state’s largest anti-opioid partnership. In 2018, nearly 100 business, education, nonprofit, civic, and government organizations formed the @OhioOpioidEdu.
businessinsider.com/jd-vance-ventu…
businessinsider.com/jd-vance-ventu…
Vance’s leap into the GOP primary in Ohio has inspired a sharp turn to the far right.
In an effort to scrub his moderate past, Vance has deleted dozens of his anti-Trump tweets and racheted up his conservative rhetoric.
businessinsider.com/jd-vance-ventu…
In an effort to scrub his moderate past, Vance has deleted dozens of his anti-Trump tweets and racheted up his conservative rhetoric.
businessinsider.com/jd-vance-ventu…
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