Addressing Black economic inequality could unlock $1 trillion in annual economic growth in the US, according to a study by the Black Economic Alliance (BEA) Foundation. The research, titled “Architecture for Action,” highlights the potential for economic revitalization through targeted interventions aimed at closing the economic gaps faced by Black Americans. The Roots of Economic Disparity The BEA Foundation’s study arrives amid a wave of skepticism and retrenchment regarding diversity initiatives. Despite the cultural backlash, leaders like JPMorgan Chase CEO Jamie Dimon and tech investor Marcelo Claure advocate for sustained
The city of Detroit has agreed to pay $300,000 to Robert Williams, a Black man wrongly arrested for shoplifting due to flawed facial recognition technology. As part of the settlement, the city will also make changes to how police use facial recognition software when making arrests. A Case of Mistaken Identity Robert Williams’ wrongful arrest stems from a misidentification by facial recognition software. According to The Guardian, the software incorrectly matched Williams’ driver’s license photo to a suspect seen in a 2018 security video from a Shinola watch store. Despite
Workplace diversity, equity, and inclusion (DEI) initiatives faced a significant setback after the US Supreme Court’s ruling on affirmative action in college admissions in 2023. However, experts now report that employers’ interest in DEI programs is now resurging, according to Law360. The Initial Impact of the Supreme Court’s Ruling The conservative-majority Supreme Court declared race-conscious admissions policies at Harvard University and the University of North Carolina unconstitutional. Though the ruling targeted higher education, its effects quickly spread to the corporate world. Legal threats led many employers to pull back on
Meta, the parent company of Facebook and Instagram, has launched an update enabling content creators in Nigeria and Ghana to monetize their content on its platforms. This new policy, which became effective June 27, 2024, marks an important change. Previously, Facebook excluded creators with Nigerian and Ghanaian addresses from monetization unless their page was managed from an eligible country. Expansion of Monetization Opportunities This policy shift follows an announcement by Meta’s President of Global Affairs, Nick Clegg, in March 2024, confirming the rollout of monetization features in June. “Monetization won’t
TestParty, a Black-led, AI-driven software compliance company, has raised $4 million in a seed funding round led by Harlem Capital and the Urban Innovation Fund. Founded in March 2023 by Michael Bervell and Jason Tan, TestParty helps businesses automatically rewrite source code to comply with global digital accessibility regulations. Making websites more accessible Currently, nearly all popular websites fail to meet the Web Content Accessibility Guidelines (WCAG), leaving millions of people who rely on assistive devices unable to engage with the digital world. TestParty aims to bridge this gap by
Black N’ Out is a platform for Black LGBTQIA+ professionals in tech to connect, support, and uplift each other. Black people are already underrepresented in tech, making up only 8% of the workforce. For Black LGBTQ+ individuals, this exclusion is even more pronounced. However, Black N’ Out is on a mission to create a welcoming and inclusive space for Black LGBTQIA+ individuals in tech. The Story Of Black N’ Out Black N’ Out was founded in 2023 by Brandon Sidney and Ryan Wesley after the pair attended several tech conferences
In St. Louis, GreaterHealth Pharmacy & Wellness is the Black-owned pharmacy addressing the issue of pharmacy deserts, using inspiration from Walgreens and Amazon. Free Delivery and Telehealth Services Dr. Marcus Howard founded GreaterHealth Pharmacy & Wellness, which provides various services, including free delivery of medications, over-the-counter products, and fresh produce. The hybrid model mimics Amazon’s delivery efficiency and Walgreens’ pharmacy services. Additionally, the pharmacy offers telehealth services, such as medication education, health screenings, and coordination with other healthcare providers. This approach ensures that residents receive timely and convenient care from their
The Google for Startups Founders Fund is back for the fifth year and is funding 20 Black and Latine AI companies in the US. The fund first launched as part of Google’s $175 million commitment towards racial equity and to date has deployed more than $50 million dollars to more than 570 Black and Latine founders around the world. Google For Startups Founders Fund & AI As AI developments are on the rise, this year, Google has funded 20 US-based companies that are pushing the boundaries in AI. The companies
Fearless Fund’s co-founder, Ayana Parsons, has stepped down from her role as chief operating officer after five years against the venture capital firm. Parson stated that her resignation is unrelated to the ongoing lawsuit from Edward Blum’s conservative group. Fearless Fund Co-Founder Steps Down Parson, who co-founded the organization with Arian Simone and Keisha Knight Pulliam in 2019, served as the fund’s chief operating officer for nearly five years. In an official press release, Parson, who is also the co-founder of Yardstick, announced that she would be stepping down to
Every June, Pride Month celebrates LGBTQ+ communities worldwide and honors their contributions to society. It’s also a time to recognize the ongoing struggle for representation, equality, and acceptance. In the tech industry, the LGBTQ+ community is underrepresented, with only 11% identifying as LGBTQ+. A McKinsey and Co. report found that while Black people make up 12% of the US workforce, only 8% are in tech jobs, resulting in a relatively low number of Black LGBTQ+ individuals in tech. Despite these challenges, many Black LGBTQ+ people are paving the way for
