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
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
As Coco Gauff stood up to the umpire in her recent U.S. Open match [Gauff has gone viral on social media after confronting an umpire who turned a blind eye to her 35-year-old German opponent allegedly breaking the rules], demanding fairness in the rules that seemed to be applied differently to her and her opponent, I couldn’t help but see this as a microcosm of what black women face in workplaces every single day. When someone from a marginalized community excels, we often see tears and reluctance from others, who
Walgreens Boots Alliance has announced the departure of its CEO, Rosalind Brewer. According to Bloomberg, Brewer was the sole remaining Black female CEO of an S&P 500 company; the last Black woman to lead an S&P 500 company was Ursula Burns, who left Xerox in 2016. Like many retailers, Walgreens faced challenges this year as the demand for COVID-19 testing and vaccines declined, and retail sales experienced a slowdown. Brewer’s departure is part of the company’s transition into a healthcare company instead of a drugstore. According to CNBC, shares of
Nonprofit BITE-CON Foundation and 4Geeks Academy, the national technology bootcamp, are collaborating to provide Black and brown people with training for tech jobs. BITE-CON Foundation and 4Geeks Academy The BITE-CON Foundation is committed to bridging the technological divide for Black and Brown communities. They engage and inspire through technology through their Annual Web3 Technology Conference, nationwide pop-up events, and community-based STEAM and sports activities. They aim to impact a pipeline of one million BIPOC and women technologists over the next five years through strategic partnerships, workforce development and thought leadership.
Melonie D. Parker, Google’s Chief Diversity Officer, has been appointed to Kanarys, Inc., Board of Directors. Google’s Chief Diversity Officer, Melonie D. Parker As Google’s CDO for over four years, Parker aims for innovative change and advances Google’s employee engagement strategy across Diversity, Equity and Inclusion. With years of experience in similar roles, Parker was Vice President of Human Resources and Communications for Sandia National Laboratories and became the first Blak woman to serve. She also spent eighteen years at Lockheed Martin, an American aerospace, arms, defence, information security, and
