Why is the DOJ investigating Andreessen Horowitz’s board seats?
Executive Take
This puts every VC with multiple board seats across a fast-consolidating sector on notice. Investors who once treated interlocking boards as routine now face real legal exposure if portfolio companies start competing.
Executive Summary
The DOJ has spent nearly a year investigating Andreessen Horowitz over board seats held by two partners. Ben Horowitz sits on Databricks' board and Martin Casado sits on Fivetran's board, and the two companies now compete. The probe reportedly relies on a rarely used 112-year-old antitrust law barring interlocking directorates.
Why It Matters
Technology and startup leaders should watch this closely because it could force VCs to rethink how many competing boards a single partner can sit on. This directly affects governance norms across the data and AI infrastructure sector.
Bizquad Perspective
The real risk isn't Horowitz's two seats, it's that dozens of other VCs have similar setups nobody has flagged yet.