Goldman Sachs, Bank of America, and JP Morgan are among the Wall Street giants that have modified their diversity, equity, and inclusion (DEI) initiatives. As DEI faces scrutiny and right-wing backlash, with accusations of reverse discrimination, companies are cautiously navigating the landscape to avoid potential legal pitfalls. Changes To DEI Programs Goldman Sachs Group Inc. has changed its “Possibilities Summit” from exclusively being for Black college students to opening the program to white students. According to Bloomberg, lawyers have also advised senior executives to remove references to race and gender
RuPaul, the iconic multifaceted celebrity, has embarked on an innovative venture with the launch of Allstora, an online book marketplace. Allstora This 100% author-owned platform empowers and showcases storytellers from underrepresented communities, including LGBTQ+ individuals, women, and people of color. Allstora, co-founded by RuPaul alongside bestselling author Eric Cervini and his partner, Adam Powell, hosts an impressive selection of over 10 million titles. Before Allstora, Cervini, and Powell were involved with ShopQueer.co, a precursor to this new initiative. As the chief creative officer, RuPaul will also spearhead RuPaul’s Book Club, focusing
Gerald Black, an acclaimed figure in the African tech ecosystem, has recently been appointed as a Partner at Black Ops and is launching a new initiative: Black Ops Catalyst. This marks a step in Black Ops’ mission to extend its influence across Africa’s tech landscape, emphasizing the importance of operators in shaping and scaling successful ventures. Meet Gerald Black With over a decade of experience as a founder and operator and a background in computer engineering, Gerald is no stranger to the tech world. His journey has seen him navigate the challenges of
Black-owned businesses can help close the racial wealth gap in the United States, a report has found. The “Gather Against the Gap” report marked a significant step towards addressing the racial wealth gap that critically impacts Black Americans. The Racial Wealth Gap The data found a $10 trillion racial wealth gap in the United States. The gap was illustrated by the median wealth of Black households at $20,000, in contrast to $180,000 for white households. This wealth disparity, coupled with an employment and income gap, significantly hinders the economic progress
The Congressional Black Caucus (CBC) is leading a significant initiative to ensure diversity, equity, and inclusion (DEI) remain central as AI technology evolves. CBC Chairman Steven Horsford, D-Nev., and Rep. Yvette Clarke, D-N.Y., announced the launch of an artificial intelligence policy series in a recent virtual press conference. The AI Policy Series The series aims to shield Black Americans from potential injustices arising from AI systems. Recognizing the influence of AI technologies, Horsford emphasized Congress’ responsibility to lead the way in understanding and shaping trends that profoundly affect their constituents’ lives and livelihoods. Clarke told reporters, “True innovation
Crowe LLP, in collaboration with Intuit Inc., has launched an innovative initiative called Crowe Beacon for minority-owned businesses. The Crowe Beacon Crowe LLP is a leading public accounting, consulting, and technology firm, and Intuit Inc. is the technology platform behind Intuit QuickBooks, TurboTax, Credit Karma, and Mailchimp. This initiative, announced in Chicago as part of Black History Month celebrations, aims to empower minority-owned small businesses by enhancing their financial maturity and capital readiness. The Crowe Beacon small business advancement initiative responds to the challenges faced by minority-owned businesses. The initative
BLKFAM, a new streaming service backed by Whoopi Goldberg and specifically designed to cater to Black families, has officially launched. Goldberg was an equity investor and creative director in BLKFAM, which aims to provide over 1,000 hours of child-friendly animation and other content. BLKFAM The unique platform is the first and only Black-owned and Black-focused family streaming service. Goldberg’s involvement is both a business venture and a personal commitment. “I’m excited to be involved with BLKFAM from the ground floor. I’m proud to be a part of something my great-grandkids
Pinterest’s use of artificial intelligence (AI)-powered inclusive filters is proving popular among its Gen Z users. Pinterest Using AI Pinterest is a digital inspiration space with nearly 500 million users that aims to enhance user satisfaction with inclusive AI. The inception of AI-powered filters in 2018 marked a significant stride for Pinterest. These filters, designed for skin tone, body type, and hair patterns, enable users to find images resonating with their personal features. According to Business of Fashion, results show that in 2023 alone, searches utilizing hair-pattern filters surged by 41%,
Joe Cecala and Dwain J. Kyles are launching The Dream Exchange, which is set to become the first Black-owned stock exchange in the United States. Dr. Martin Luther King Jr’s Influence The two, influenced by the civil rights movement and drawing inspiration from Dr. Martin Luther King Jr., aim to bridge the gap between Main Street and Wall Street, creating a more inclusive financial marketplace. “What he [Dr. King] began to understand in the later years of his life [is] that you were not going to achieve equality anywhere in
Helen Huang and Sefunmi Osinaike are redefining inclusivity in the tech industry with Co.Lab, whose hands-on mentorship-based programs are helping Black and underrepresented Canadians get a headstart in tech. Co.Lab Launched three years ago, Co.Lab has already made significant waves in the tech community, breaking barriers and fostering a sense of belonging among minorities. “Our entire motto at Co.Lab is you belong in tech,” Huang told Now Toronto. “When you’re outside the club, everything inside seems so mysterious. All you do is hyper-fixate on the things you don’t feel like you
