Interesing post on their blog - they define diverse VC as " funds having a Black or Latinx Founding Partner and/or an investment focus on Black or Latinx founders. "
Where are other minority groups, native americans, veterans, disabled, lgbtq, immigrants, low income/first generations? At this rate, might as well push for more self-serving and name "diverse" as "being founded by dudes named [Self first name], [Self last name]"
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What about Asians
Less Asians than Latinos or blacks in usa.
They are more of a minority.
Think about it this way - no other diverse groups has ever discredited the black and latino experience by saying " boy you are not diverse", even if it's to rich blacks / rich latinos / latinos who look like caucasians. It's fine to say - HC as a firm wants to focus on black and latino community, as they are diverse and underserved; it's another to steal the definition and claim that others are not diverse.
This is the equivalent of man-splaining. You don't get to call other groups who are factually diverse and minortiy non-diverse just based on your own opinion; and no one else is doing it to them.
I imagine their definition is better for fundraising.
I’m anti diversity programs but I don’t think diversity for Hispanic or black people is an entirely bad idea. There’s a much stronger correlation between being black and Hispanic and being economically disadvantaged. Unlike diversity for programs for women (wealthy white women are sooooooo disadvantaged), LGBT (white/Asian gays make more than anyone else), “Native American” etc. Yeah I’m sure black founders from Harvard will get a lot of the funding but whatever
I don't think the issue is people are against diversity for black and latinos; the issue is more for a group of people to define other groups of minorities and marginalized people as "non-diverse" based on their opinions, profits, and convenience, despite data that says the contrary. People always say "asians don't count" - but why? Look at rap songs that describe and encourage listeners to rob asian families - they are still there and no repercussions. There are income data - use them, instead of correlations that put obama's kids in the same camp as inner city blacks/whites/hispanics/native americans/etc.
I know a first gen Hmong immigrant who comes from the projects in Minneapolis who was very low income and really struggled to get ahead but landed full ride to college at nontargets and come up from a super difficult background. But even though they’ve struggled as first gen immigrant minorities they’ll never get any benefit from diversity programs and in fact they’ll get punished. Kind of a stupid system
"There's a much stronger correlation between being black and Hispanic and being economically disadvantaged."
And why is that?
not going to go there but it's undeniable that there is a huge disparity in wealth and opportunities for black and Hispanic Americans... I don't think diversity programs for black and hispanic kids or black focused VC funds are a terrible idea
Curious to see what their returns are
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