Some people get it and some people don’t. We have to show up more and put extra money into black founder deals because every step of the way, they will face bigger, tidal forces against them - lower valuations and less available money, bc they can’t count on the people who “can’t get comfortable” but can’t say why exactly.
In this moment, you can enrich yourself further by doing what you’ve always done with non-minority founders… or you can equip the generals with the munition they’ll need for a hard battle. But that is your choice.
Financial services is rigged to structurally advantage some, not because they are better. I’m not black, but I’m also not blind.
I’ve spent my life running the numbers on structural inequality, and I believe black people who say it exists, and I’ve held the hands of its many victims in moments when there’s just nothing left to say to make it better. Speaking out is not a sign of our company’s weakness, because having the numbers is an illusion - even when you have them, they aren’t enough. There’s always another excuse other than saying the quiet part out loud - it’s because you’re black.
Let me also be clear that I don’t expect to see a coming to Jesus moment on racism in this country, but operating in silence or trying to operate within this system is the wrong move. When I see something, I say something. Now is the moment when VC should step up and lean in for the community.
The arc of justice is long and I know that those that chose to be on the right side of history, will get the deal flow that’s coming, because the groundwork for generational, transformational wealth among black people is happening, with or without VCs.