A group of 18 senators sent the Department of Justice (DOJ) a letter raising concerns about the agency’s funding and oversight of what they called “frequently inaccurate” facial recognition software. The group highlighted that law enforcement has widely used facial recognition and other biometric technologies. However, they stated that these technologies can be unreliable and inaccurate, especially concerning race and ethnicity. The senators, led by Senate Judiciary Committee Chair Dick Durbin and Sen. Raphael Warnock, suggested that the DOJ funding for the deployment of the technology is potentially a problem. They also
Spelman College has made history on its 100th birthday as the recipient of a $100 million donation: the largest-ever single gift to a historically Black college. The college is based in Atlanta and is a historically Black liberal arts college for women. The donation came from businesswoman and philanthropist Ronda Stryker and her husband, William Johnston – the chairman of the wealth management company Greenleaf Trust. Stryker has been a Spelman College Trustee since 1997 and a member of Harvard Medical School’s board of fellows member. She is also the granddaughter
PricewaterhouseCoopers (PwC), a major player in the accounting industry, has recently revised its diversity and inclusion initiatives in response to legal and social pressures in the United States. With a workforce of 46,000 in the U.S., PwC’s adaptations signal a significant shift in corporate diversity strategies. The firm has altered its approach following a Supreme Court ruling against race-conscious university admissions, which has wider implications for employment practices. This change has led PwC to eliminate race-based criteria in its student internship program and professional accounting exam preparation scholarships. These initiatives
Last year, African startups raised $2.9 billion in deals worth $100,000 and above (excluding exits). Although this amounts to a 39% drop compared to 2022, the continent is showing signs of resilience. Shifting investor landscape In 2023, Techstars was the top investor with 56 deals, surpassing Launch Africa. Other key players included Founders Factory Africa, Ventures Platform, Norrsken, and Y Combinator. All but Norrsken did fewer deals in 2023 than in 2022. For example, YC added only 12 African startups to its 2023 cohorts, compared to 43 in 2022 and
Venture capital (VC) funding for Black entrepreneurs in the US has been decreasing since a peak following George Floyd’s murder in 2020. In 2023, Black founders in the US got only 0.48% of all venture dollars, about $661 million out of $136 billion, TechCrunch reports. This is the lowest in recent years. Peak funding in 2021 In 2020, Black founders received 0.6% of venture funding. By the first half of 2021, funding to Black entrepreneurs in the US reached nearly $1.8 billion, a fourfold increase compared to the same time
In a striking turn of events, the renowned rapper Snoop Dogg’s ad campaign for Solo Stove backfired, resulting in the exit of the company’s CEO, John Merris. The campaign, which cleverly hinted at Snoop Dogg giving up smoking, ultimately failed to boost sales as expected. The “Smokeless” Campaign In a bold marketing move, Solo Brands aired a commercial in which Snoop Dogg announced he was “giving up smoke,” leading many to believe he was quitting his well-known affinity for weed. However, the ad was a clever ruse for Solo Stove,
Young Black people are more likely to invest in stocks than their white counterparts, according to a recently published survey by Ariel Investments and Charles Schwab. The survey, conducted in 2022, found that 68% of Black respondents under 40 invested in the stock market, compared to 57% of white under 40s. More Black Americans Investing In Stock The 2022 survey compared Black and white survey respondents with an average household income of $99,000 and $106,000. The study found that overall, the stock market participation is higher among younger Black Americans,
BlackRock Inc. has agreed to purchase Global Infrastructure Partners (GIP), which Adebayo “Bayo” Ogunlesi co-founded, for around $12.5 billion. BlackRock Inc. Purchases GIP GIP is a leading global independent infrastructure fund manager. They target infrastructure businesses and assets in the energy, transportation, digital, water, and waste sectors, where they believe their expertise and relationships provide a competitive advantage. It was founded in 2006 and has grown to be one of the world’s largest infrastructure investors, managing $100 billion in assets on behalf of its global investor base. Along the almost 20-year history
The risk of maternal death from 2019 to 2021 was statistically significantly almost four times higher among Black women and women of color compared with white women. Black women are generally at a greater risk of maternal mortality compared to white women, with many reporting negative experiences before, during, and after pregnancy. We have compiled a list of Black and woman of color-owned apps or platforms that benefit these women during and after pregnancy. Villie – Kimberly Jolasun Villie is on a mission to support expecting and new moms through
Investment firm Compass Diversified has acquired a majority stake in Beatrice Dixon’s plant-derived feminine care brand, The Honey Pot Company. The Honey Pot Co. was founded in 2012, offering products across the feminine hygiene, menstrual, consumer health, and sexual wellness categories. It can be found in more than 33,000 stores across the US, including Target, Walmart, CVS, and Walgreens, with annual sales estimated to be around $120 million. The Honey Pot Co.’s distinct approach to product formulation, using plant-derived ingredients and clinically tested formulas, has fostered a loyal and diverse customer base over the years.
