VC Fund sued for their choice of market segment. The fearless fund decided to invest in companies founded by Black women, because they think it’s good business to invest in founders who are otherwise excluded from access to risk capital.

The thing is, a right wing group is suing them saying that they can’t choose who to invest in based on race or demographics. This is BS. VC Funds make all sorts of choices about who to fund, that’s part of how the market work. A group of investors got together, got LP’s to provide backing, and decided to invest in minority women. Not only is it likely a good business, find a segment where you can have a strategic advantage, but also deal with racism and sexism by building up businesses as alternative.

https://fearlessfreedomnow.org/

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man. we’ve gotta find a way to upend the mind job of this culture war. the friends i have who are more on the right, would have no problem with this. it’s entrepreneurial in nature, and is helping people who would normally be blown out by existing corporate tech, get a food hold to build projects who will lift everyone up regardless of cultural history.

we’ve got to get out of this trap

This is one of those things, where if you’re conservative and believe in capitalism and markets, you would WANT there to be VC funds who focus on funding businesses founded by black women. It’s about building wealth and economic independence, through creating businesses.

There’s a long history of black Americas going back to the end of slavery who worked on social change by building up black owned businesses.

Some of which became very successful: https://en.wikipedia.org/wiki/Self_Made_(miniseries)

And others which were attacked and destroyed precisely because they povided economic and political independence: https://en.wikipedia.org/wiki/Tulsa_race_massacre

VC is how you build new high growth businesses. Instead of asking for VC’s to invest in companies founded by women of color, these folks made their own VC, and got LP’s to fund it. To me this shows that a lot of the anti-affirmative action work isn’t about fairness at all, but about perpetuating a system of inequality.

I hope that the fearless.fund wins this lawsuit and sees the companies they fund become profitable unicorns.

Agreed. Which makes me wonder about small groups who have a vested interest in promoting a culture war, by promoting “them” fear, in order to get people to act against their own long term interests.

More and more, I am convinced that much of the “left right” culture war is actually a targeted corporate psyop.

Social justice venture capital ngmi.

Why did you capitalize "black women"?

But the thing is, they’re not asking you or anybody else. They found LP’s and got them to give them money to setup an investment fund with a thesis. You might think it’s a bad investment philosophy, but somebody else might think it’s a bad idea to invest in bitcoin. Just like you should be able to hodl, they should be allowed to choose where to invest.

I think investing in startups that discriminate based on race is unethical and so long as there is a government I'd like to see these funds hammered.

As stupid as this is, and I agree, but I also don’t generally feel sorry for anyone playing in that absurd race baiting game. The left and the right have both made complete asses of themselves and the left has basically invited this sort of behavior in a spectacular way.

Just imagine if some right wingers decided to invest in white male ventures only, publicly? Do you really see that going any differently? Is it any more or less valid? The behavior of the left is exactly why the right has fully embraced cancel culture. They’re just trying to do the same thing the left has succeeded at in reverse. The outrage over the right bud light boycott is rather ironic in this way. This is just the right actually succeeding at what the left has literally been teaching them to do for the better part of 10 years. And even longer when it comes to suing companies over arbitrary race and sex quotas. Hence this ridiculous situation you are sharing. People have practically made careers of this. This is what happens when we use government to “fix” social issues. You get 100x the social issues.

The people who make everything about race & sex are very likely to get exactly what they want, it just won’t be in the way they expect. And when it’s purposefully amplified and aggressively shoved into politics to force it down everyone’s throats, there is exactly zero chance it will end positively

TL;DR Politics is a disease, expect symptoms.

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I don’t mean to be so poo poo about it, and I do hope they lose the lawsuit. But they are playing the game the left setup. The sensible people on the left should’ve spoken up, but they didn’t. So here we are 🤷🏻‍♂️

Makes me think of experience as director in medical school program. I was encouraged to give a female minority student a passing grade despite failing performance. Was told “we need more doctors of [insert minority] so we need to do everything we can in order for her to pass.” Seeing that process of allowing subpar performance from minorities makes me distrust the capabilities of any minority physician who graduated in the last several years and onward.

I have a close friend from back home in a major financial institution who told me they had to do essentially this same thing so they could keep from firing a black, female executive. He said she was useless and was incapable of doing or figuring out anything without explicit instructions, but they couldn’t find anyone competent who was the “correct race & gender” to replace her. So they literally invented a new position where they could place her, still list her as part of the “executive team,” but she literally did nothing.

The blind stupidity of those in politics and activism who don’t see they are putting the cart before the horse, by politically forcing the **appearance** of results instead of figuring out why public education has failed minorities and the poor & actually fixing anything, they literally make the situation SO much worse, creating racism and sexism where it didn’t even exist before.

Was told to find a ‘black minority female / non white female for a very important role. There weren’t any 🤷‍♂️… so I said no. Didn’t go down well. So I suggested employing the amazing ‘white’ guy who was really right and then train a ‘black’ female by getting her to watch and learn from him. Common sense prevailed and now she is alot closer to being ready for that responsibility.

Such a symptom of the fiat system 😂

Makes me wonder if those “in charge” are intentionally trying to cause racism/sexism. And they know exactly what they’re doing.

yeap, year after year only 2% of women are funded, and stats are lower if you are minority, colored, 3rd world etc

in my country, Affirmative Action is for the majority (opposite of norm) to compliment race based political parties. So the minorities get about 5% economic access to business loans, business grants, and even startup equity funding. There is no equal access to even higher education.

In this case, meritocracy is the only way to get any form of equal access. This is the aftermath of far rights - and it will be the same for whichever country, whatever religion. At the end of the day, whether it is affirmative action or meritocracy, the goal is to just provide equal access to everyone.

But it is easier said than done