TIME chose the 100 Most Influential People in Artificial Intelligence for the TIME100/AI, featuring several people of color. TIMES’ most knowledgeable editors and reporters spent months fielding recommendations from dozens of sources to assemble hundreds of nominations they whittled down. “We wanted to highlight the industry leaders at the forefront of the AI boom, individuals outside these companies who are grappling with profound ethical questions around the uses of AI, and the innovators around the world who are trying to use AI to address social challenges,” said executive editor Naina
Amazon Catalytic Capital, launched in 2022, has announced four new venture capital funds, bringing its total portfolio to eight. Amazon Catalytic Capital Amazon Catalytic Capital was launched as a $150 million commitment focused on investing in Black, Latine, Indigenous, women and LGBTQIA+ builders in tech. Specifically, the initiative provides capital to funds, venture studios, accelerators, or incubators that back startups led by underrepresented founders. Recipients also receive 1:1 mentorship from Amazon executives and unique business opportunities for partnerships, technical support, and scaling resources. Amazon Catalytic Capital has announced its investment
California is working on passing SB 54, the nation’s first legislation to increase diversity in venture capital. In California, venture capital investments do not reflect the state’s diversity, according to the bill. It states that companies founded or co-founded by women receive far less investment funds than companies founded by men. Additionally, companies founded or co-founded by people of color receive far fewer investment funds than companies founded or co-founded by white people. Black founders have long faced challenges securing funding for their businesses, with VC funding dropping by 36%
Black-owned ed-tech company Nomadd Group has launched Project CASPER, an accelerated program implementing Science, Technology, Engineering and Mathematics (STEM) programs in underrepresented schools and communities. Nomadd Group Nomadd is a community development and STEM-accredited EdTech company that provides programs and services to uplift disinvested communities. Founded by Kevin Horton, Nomadd’s vision is to create economic mobility for communities that lack access to information, technology and resources. It focuses on re-skilling workers, developing the workforce, and promoting entrepreneurship while reforming the education system. They aim to help implement STEM programs to
Maelstrom Fund, Jackie Robinson Foundation, and World of Money have partnered to create the Our Wallet program, providing teenagers from BIPOC backgrounds with financial literacy education. Our Wallet Our Wallet is a financial literacy program providing tools and resources for BIPOC youth and future leaders. AfroTech reported that the program was birthed from a partnership between the Maelstrom Fund, the Jackie Robinson Foundation, and World of Money. The Maelstrom Fund is an early-stage investment fund run by the family office of Black entrepreneur Arthur Hayes, the founder of the cryptocurrency
A leaked Google spreadsheet has revealed that Black employees at Google make $20,000 less on average than their white coworkers. Insider obtained an internal Google spreadsheet with over 12,000 U.S. staff reporting their annual salaries in 2022. The data covers software engineers, business analysts, salespeople, and legal counsel roles. Race disparities The data sheet found that Black staff at Google tend to make $20,000 less than their white co-workers, with $147,000 going to Black workers and $170,000 going to white workers. White staff also got $40,000 more in equity than
Copenhagen-based Unconventional Ventures has announced the second close of its €30 million fund ($32 million), dedicated to investing in diverse founding teams and founders. Unconventional Ventures According to Tech Funding News, Unconventional Ventures (UV) is the only European fund with a diversity impact at its heart. It is an impact-focused investment firm investing in early-stage startups led by underrepresented founders in Europe. Launched by Thea Messel and Nora Barvey in 2018, UV has a VC structure and invests across the Nordics in healthcare, women’s health, diversity tech, sustainable fashion, food
With the increase of Black-owned businesses, there have been concerns about Black companies being sold or taken over by white firms. From 2017 to 2020, the number of Black-owned businesses across the country increased by 13.64%, and Black-owned firms brought in an estimated $141.1 billion in gross revenue in 2020 – an 11% increase since 2017. However, according to Forbes, there has been a trend where Black-owned businesses are being sold to or acquired by white-led companies. They raised the question of whether the business acquisition is a sign of
Greenwood’s Moton Hospital, which once served victims of the 1921 Tulsa Race Massacre, is being restored as a business resource and incubator hub for Black entrepreneurs. Moton Hospital Originally known as the Maurice Willows Hospital, the Moton Hospital was erected after the devastating 1921 Tulsa Race Massacre. The Tulsa Race Massacre was a two-day-long white supremacist terrorist massacre between May 31 and June 1, when mobs of white residents attacked Black residents and destroyed homes and businesses in the Greenwood District in Tulsa, Oklahoma. The North Tulsa hospital offered critical
Diversity programs continue to come under fire as Meta Platforms Inc. and three entertainment groups face lawsuits. What has been happening? Since the U.S. Supreme Court ruled against colleges and universities considering race in their admissions process and ending Affirmative Action, there have been several lawsuits against diversity programs. Following that, conservative group American Alliance for Equal Rights, led by Edward Blum, filed lawsuits against law firms Perkins Coie and Morrison Foerster, challenging their diversity fellowships. The lawsuits alleged these fellowships unlawfully discriminated against white candidates and requested that racial
